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Management consultant overview, eligibility, salary...

Management consultant overview, eligibility, salary and more

A Management consultant is the one who provide his services to improve the performance of an organisation. These professionals identify the gaps in overall managerial decisions and make the essential solution to improve the performance of the client company.

This article include details about management consultant course eligibility criteria skill set top recruiters routine and more.

Let's check it out



Management consultant overview

What it's about??

A management consultant is a kind of management professional who has to improve the performance of an organization and is hired to primerly identify and solve the existing business problems and develop a plan to solve that problem, thus improve the performance of the organization.

These are one of the most needed professionals today. There are many companies who hire these professionals through management consultancy firms to improve the performance of the company. 

These professionals understand the working of the company, identify the problems of the management or problems in the development of the products and help the client company to improve the performance.

Management consultant scope, salary
Management consultant scope, salary


Management consultant eligibility

How do one could get there?

One need to have a management degree from recognise institution to beg a consulting job. You can take up engineering and join as an analyst. Well, after an MBA generally one get placed at a senior position like an associate or a consultant

Skills set needed

What talent needed?

✓ You need to have an analytical mind as you have to study and analyze the industry trends and identify company specific problems.

✓ You need to have excellent communication skills as you need to be clear and conveying your ideas on thoughts to clients, provide guidance and listen to them.

✓ Excellent learning skills needed as you have to update yourself with the knowledge on a regular basis.

✓ You need to have interest in various fields  you will be made to work on different projects like one project could test your knowledge in marketing while other might test your skills in operations.

Management consultant salary

Payout for management consultant

When initially one can earn as much as Rs. 5 lakh to Rs. 8 lakh per annum and after some experience Rs. 10 to 15 lakh per annum it can be.

Well salary increases rapidly with experience if you are a high performer in this business and have a zeal to succeed, the sky is the limit said experts.

Routine of a management consultant

Management consultant working

Timings
Working
09:00 a.m.
Meeting with the team to decide plan for the day week project.
10:00 a.m.
Conduct thorough research on the industry vertical.
11:30 p.m. 
Lunch time
02:00 p.m.
Study company reports and analyse them
03:00 p.m. 
Share the results with the management to work on the plan of action.
04:00 p.m.
Resume study analysis try and figure out solution to solve clients company problem.
06:00 p.m.
Leave for home
07:30 p.m. 
Read books and journals to know more about changes in the industry vertical


Pros and cons


Just like everything there are some positives as well as negatives are always there. This field has some of good things and some bad they are given below :

✓  Very demanding and highly result oriented and you need to perform well consistently you can't afford to make mistakes.

✓  It allow exposure to different domain of businesses which makes consulting and enriching job

✓  Good money makes it one of the most attractive career options for MBA's.

Top recruiters


There are many Indian and multinational companies who are  recruiting management consultant. Every sector company e needs a management consultant to run the management of the company smoothly.
These consultants help the companies to find out problems with the management processes in a particular company and help them to improve.

That is the need of every company today. There are many management consultancy firms who are also looking for master degree holder in management consultancy.

So, we can say that the job prospects in this field is immense. Some of the global recruiters are given below :

Eli Global LLC
AdroitPro Advisory Ventures
Mckinsy & Company
Boston Consulting Group
Bain and Company
AT Kearney
Accenture
Deloitte and Company
Strategy & Co.( booz & co.)
KPMG
PWC
Arthur D. Little 
and the list go on...

Management consultant duties

• Understand the client company's business challenges and their business needs. Talk to the company professional personnels.

• Review companies data such as financial statements, existing technology usage and payroll statements.

• Check out scope of the project of the client company and identify the required resources to meet the project objectives.

• Has communication to the company's stakeholders companies employees  and project teams.

• Conduct training classes for employees if required.

• Give feedback to the companies management.

• Have a talk with client to ensure the given solution is working.

Top colleges management consultant

Indian Institute of Management, Ahmedabad

Indian Institute of Management,
Bangalore

Indian Institute of Management,
Calcutta

Indian Institute of Management,
Lucknow

Indian Institute of Management,
Indore

Faculty of Management studies, 
Delhi 

Management development Institute, Gurgaon, Haryana

IMI Indian management institute,
Delhi

XLRI ,
jamshedpur, Jharkhand

IMT (Institute of Management and Technology)
Ghaziabad, Uttar Pradesh


Conclusion

You can say management consultancy has a height of prestige globally. These professional are the need for every sector. Most of the company hire management consultancy firm for management related consultancy. 

There is a good demand for these professionals. These professionals are introduced to the different industries to make a sophisticated solution to the problems they are facing.

One can consider it as a career option as it gives you opportunity to explore different sector working and help them to improve their performance.

I hope the above information will be useful to you thank you so much for reading. If you like the information don't forget to share it and subscribe.

Thank you and good luck for the future.







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