Management Consulting: The Industry at a Glance

What is consulting?

The purpose of a consultant is to help provide recommendations for organizations to improve their performance. Consulting services can range from providing organizational change management assistance to the development of coaching skills, process analysis, technology implementation, strategy development, and operational improvement services. There are two distinct types of consultants: industry consultants and career consultants. Industry consultants typically possess over ten years of experience in a particular field, while career consultants spend their career developing the types of skills that consultants use, such as research, presentation, and analytical skills.

 

What does an entry-level consulting position look like?

Recent graduates of undergraduate programs often choose to pursue an entry-level consulting position. Entry-level consultants are not considered experts, and therefore fall into the career consultant category. Regardless of the consulting firm or industry, entry level roles are often responsible for creating PowerPoint slide decks to present to clients, conducting interviews, doing primary and secondary research, and otherwise assisting the engagement team. Entry level consultants may also have the opportunities to analyze relevant data or other information in an effort to better understand a client’s current state and provide recommendations for the future. While some of these functions may not be as glamorous as others, all are essential to a successfully operating team of consultants.

 

What are the different types of consulting?

The most common type of consulting is management consulting, and it can be split into several different branches, as depicted in the graphic below:

 

 

Do you want to be a consultant?

Individuals who thrive as consultants are usually driven and analytical. Consultants typically do well in high pressure environments, and are passionate about testing ideas and serving clients. Consultants often have strong people skills and are able to be flexible in continuously changing circumstances. No two days are the same—consultants are always learning and are constantly challenged by their work. While the consulting industry is not always easy to enter, it can offer extremely rewarding careers that allow individuals to learn a great deal in a short period of time. If these concepts sound exciting, consulting may be a potential career option for you!