A management consultant, also sometimes called a management analyst, helps a company or government entity layout and execute projects with the coveted outcome of becoming more productive or competitive. To achieve this goal, they may recommend various strategies to modify the organization's structure or operation methods in ways that result in increased profits, better practices, and improved efficiency.
Management consultants may specialize in a particular industry, such as healthcare, manufacturing, or education. Alternatively, their focus may be on a function, such as human resources, information technology, financial restructuring, or inventory control.
The reported annual salary for a management consultant in the U.S is approximately $83,610, or $40.2 per hour. However, this figure can vary significantly depending upon academic qualification, having previous experience, and possession of the aforementioned skills.
There is more than meets the eye when it comes to being a management consultant. For example, did you know that they make an average of $45.73 an hour? That's $95,108 a year!
Between 2018 and 2028, the career is expected to grow 14% and produce 118,300 job opportunities across the U.S.
There are certain skills that many management consultants have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed analytical skills, communication skills and interpersonal skills.
If you're interested in becoming a management consultant, one of the first things to consider is how much education you need. We've determined that 67.3% of management consultants have a bachelor's degree. In terms of higher education levels, we found that 21.7% of management consultants have master's degrees. Even though most management consultants have a college degree, it's impossible to become one with only a high school degree or GED.
Choosing the right major is always an important step when researching how to become a management consultant. When we researched the most common majors for a management consultant, we found that they most commonly earn bachelor's degree degrees or master's degree degrees. Other degrees that we often see on management consultant resumes include associate degree degrees or doctoral degree degrees.
You may find that experience in other jobs will help you become a management consultant. In fact, many management consultant jobs require experience in a role such as project manager. Meanwhile, many management consultants also have previous career experience in roles such as consultant or senior project manager.