Niche firms are sometimes arrange by consultants leaving the bigger corporations to arrange their own consultancies in a selected sector or specialist service. Financial consultants supply specialist advice including the installation of budgetary management techniques, profit planning and capital and revenue budgeting. Generalists are the bigger corporations, corresponding to Deloitte, EY, KPMG, PwC and Accenture. They offer a range of providers from strategy consulting and human resources, to IT and outsourcing on a global foundation. Competition is extremely intense with excessive entry standards and requirements.
Your function is to establish choices for the organisation and recommend suggestions for change, in addition to advising on additional assets to implement options. What extra worth does your work add that other consultancies do not?
You do not need a postgraduate degree for a profession in consultancy, nonetheless it may be helpful to the work. In particular, the Masters in Business Administration is valued by some employers but it is certainly not essential. Having a Masters or PhD might let you enter the profession at the next stage. Work can be carried out on an international degree, with many client organisations having places of work abroad.
From here you’ll sometimes progress to senior consultant or manager level, and this is normally achieved inside about three years. At this degree you will lead teams and design and develop options and tasks. Professional qualifications may be carried out whereas working and related awards are supplied by the CMI. This contains the Level 7 qualification in Professional Consulting, which is available at three ranges – award, certificate and diploma. It’s aimed at those that want to develop strategic abilities inside consulting.
Firms are paying rising attention to work/life stability by offering household-friendly advantages, for instance, versatile working, part-time working, working from home and enhanced maternity and paternity leave. Some encourage career breaks or secondments in different roles or outside the company. Other advantages could embrace automotive allowances, personal medical insurance, pension schemes, life insurance coverage, on-website gyms, childcare vouchers and interest-free season ticket loans.
Starting salaries for junior consultants may be in the area of £25,000 to £30,000 with large corporations. However, smaller consultancies could offer lower levels of pay and salaries do range greatly depending on the location, kind and dimension of consultancy. You’ll be involved primarily with the strategy, structure, management and operations of an organization.
Some consultancy companies have several rounds of interviews and assessment centres that candidates must undergo. If you want to get into consultancy work instantly after college you must start making use of for positions at the beginning of your final yr and try to set up some related experience.