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Job outlook for principal consultants in the United States
Principal consultant job growth summary. After extensive research, interviews, and analysis, Zippia's data science team found that:
The projected principal consultant job growth rate is 11% from 2018-2028.
About 108,400 new jobs for principal consultants are projected over the next decade.
Principal consultant salaries have increased 9% for principal consultants in the last 5 years.
There are over 130,687 principal consultants currently employed in the United States.
There are 143,753 active principal consultant job openings in the US.
The average principal consultant salary is $116,478.
Are principal consultant jobs in demand?
Principal consultant job and salary trends over time
Principal consultant jobs over time
Principal consultant job growth rate over time
| Year | # of jobs | % of population |
|---|---|---|
| 2021 | 130,687 | 0.04% |
| 2020 | 106,795 | 0.03% |
| 2019 | 109,099 | 0.03% |
| 2018 | 125,110 | 0.04% |
| 2017 | 119,894 | 0.04% |
Average principal consultant salary over time
Principal consultant salary by year
| Year | Avg. salary | Hourly rate | % Change |
|---|---|---|---|
| 2026 | $116,478 | $56.00 | +4.0% |
| 2025 | $112,044 | $53.87 | +2.4% |
| 2024 | $109,419 | $52.61 | +0.7% |
| 2023 | $108,612 | $52.22 | +1.4% |
| 2022 | $107,107 | $51.49 | +1.3% |
Principal consultant jobs by state
Most common states for principal consultants
| Rank | State | Population | # of jobs | Employment/ 1000ppl |
|---|---|---|---|---|
| 1 | District of Columbia | 693,972 | 705 | 102% |
| 2 | Rhode Island | 1,059,639 | 449 | 42% |
| 3 | Vermont | 623,657 | 261 | 42% |
| 4 | Massachusetts | 6,859,819 | 2,186 | 32% |
| 5 | New Hampshire | 1,342,795 | 415 | 31% |
| 6 | Virginia | 8,470,020 | 2,335 | 28% |
| 7 | Washington | 7,405,743 | 1,822 | 25% |
| 8 | Oregon | 4,142,776 | 1,043 | 25% |
| 9 | Connecticut | 3,588,184 | 851 | 24% |
| 10 | Utah | 3,101,833 | 756 | 24% |
| 11 | South Dakota | 869,666 | 206 | 24% |
| 12 | Montana | 1,050,493 | 240 | 23% |
| 13 | Delaware | 961,939 | 219 | 23% |
| 14 | Minnesota | 5,576,606 | 1,239 | 22% |
| 15 | Wyoming | 579,315 | 125 | 22% |
| 16 | Colorado | 5,607,154 | 1,150 | 21% |
| 17 | New Mexico | 2,088,070 | 430 | 21% |
| 18 | Illinois | 12,802,023 | 2,548 | 20% |
| 19 | New Jersey | 9,005,644 | 1,796 | 20% |
| 20 | Arizona | 7,016,270 | 1,394 | 20% |
Most common cities for principal consultants
| Rank | City | # of jobs | Employment/ 1000ppl | Avg. salary |
|---|---|---|---|---|
| 1 | Annapolis | 34 | 86% | $118,629 |
| 2 | Frankfort | 24 | 86% | $101,940 |
| 3 | Juneau | 22 | 68% | $131,300 |
| 4 | Dover | 22 | 58% | $120,571 |
| 5 | Lansing | 36 | 31% | $111,393 |
| 6 | Springfield | 25 | 22% | $106,837 |
| 7 | Hartford | 24 | 19% | $118,405 |
| 8 | Topeka | 22 | 17% | $90,436 |
| 9 | Tallahassee | 26 | 14% | $104,921 |
| 10 | Little Rock | 24 | 12% | $102,429 |
| 11 | Montgomery | 24 | 12% | $115,443 |
| 12 | Baton Rouge | 24 | 11% | $114,624 |
| 13 | Des Moines | 22 | 10% | $106,171 |
| 14 | Atlanta | 41 | 9% | $104,809 |
| 15 | Boston | 44 | 7% | $114,924 |
| 16 | Urban Honolulu | 23 | 7% | $121,695 |
| 17 | Sacramento | 26 | 5% | $142,756 |
| 18 | Phoenix | 30 | 2% | $109,377 |
Principal Consultant job outlook: Expert opinions
Our panel of principal consultant experts
Davidson College
University of West Florida
Lewis-Clark State College
Temple University
Duke University
Xavier University
University of North Florida
Coastal Carolina University
Florida State University
University of Nevada, Reno
Lasell University
Bucknell University
Kansas State University
Kent State University
University of Central Missouri
Ohio Wesleyan University
Drexel University
What general advice would you give to a Principal Consultant?
Linda Vogel Ph.D.: First, graduates from a BA program with teacher licensure should teach for at least two years before considering a MA program with principal licensure. This way, they understand school processes and challenges before seeking to lead change in the education system. Also, being a master teacher in whatever subject area you teach will increase your credibility with teachers in the building you lead once you obtain your principal license. In Colorado, the administrator license is for district-level/superintendent positions, so it is best to first obtain your principal license and work as a principal for a few years before earning the administrator license. Also, the building-level leadership experience enhances one’s chances of securing a district-level position.
Katie Horowitz
Associate Professor of Gender & Sexuality StudiesDavidson College
Ethnic, Cultural Minority, Gender, And Group Studies
What general advice would you give to a Principal Consultant?
Katie Horowitz: With the rise of artificial intelligence, soft skills like interpersonal communication, conflict management, and critical thinking will become more important than ever before. These are assets that can’t be outsourced to AI, and they are fundamental to the work that Gender & Sexuality Studies majors do in college.
What Principal Consultant skills would you recommend for someone trying to advance their career?
Katie Horowitz: Some research shows that women and members of marginalized racial groups are less likely to negotiate their salaries than their white male counterparts. When you get a job offer, don’t forgo the opportunity to advocate for a higher salary.
What will help Principal Consultants increase their earning potential?
Katie Horowitz: Don’t limit yourself. I’ve seen Gender & Sexuality Studies students land jobs in business consulting, nonprofit, medicine, law, and more. The beauty of this interdisciplinary field is that it intersects with virtually every sphere of human existence. You can bring your GSS skills to bear on any line of work that interests you.
What general advice would you give to a Principal Consultant?
Dr. Neil Eldin PhD, PE: Things don’t just happen. You must develop a career plan to maximize your salary potential when starting your career. Find the right employer for yourself. For example, if you are mobile and willing to travel, target employers with international projects. After working for a few years, you can request a transfer to an overseas assignment, and this will instantaneously almost double your salary. If you are not mobile and your circumstances do not allow your travel, seek employment with major corporations and seek positions that are done at the home office (e.g., estimating, procurement, and contracting).
What general advice would you give to a Principal Consultant?
Dr. Haris Alibašić Ph.D., MPA: My general advice is that embarking on a career in business or any other field demands a blend of practical skills, adaptability, and a continuous learning mindset. Graduates should prioritize the following strategies, including but not limited to: - Building a Strong Foundation of Business Fundamentals, including core business principles, finance, marketing, operations, and strategy to facilitate adaptability to changing markets. - Cultivating a growth mindset, embracing challenges, viewing failures as learning opportunities, cultivating resilience, and a willingness to step out of one's comfort zone. - Networking and building relationships with peers, mentors, and industry professionals open doors to opportunities and provide invaluable insights and guidance. - Staying informed of industry trends as the business landscape constantly evolves, which is obvious with the recent trend of expanded use of AI and ML.
What will help Principal Consultants increase their earning potential?
Dr. Haris Alibašić Ph.D., MPA: "In the next 3-5 years, specific skills are poised to become increasingly important in business: Data Literacy, Digital Proficiency, Emotional Intelligence, Sustainability, Resilience, and Social Responsibility. However, the most necessary lasting skill that benefited my career is Effective Communication. Being able to communicate effectively is an indispensable skill."
What Principal Consultant skills would you recommend for someone trying to advance their career?
Dr. Haris Alibašić Ph.D., MPA: To maximize salary potential early in their careers, graduates should consider the following strategies: Specialize in High-Demand Areas, Never Stop Learning/Pursue Additional Education, Negotiate Offers, and Seek Mentorship and Constructive Feedback."
What will help Principal Consultants increase their earning potential?
Rolf Straubhaar: People love the meaning being a school leader brings to their lives, as on a day-to-day basis you are making a direct impact on the lives and futures of children. They dislike having to deal with unnecessary and distracting political fights that do nothing to improve the lives of children.
What skills stand out on Principal Consultant resumes?
Jenny Scott: -Relevant industry experience (for SR Business Consultant: 10 years)
-Project management
-Strategic Planning
-Team and Executive Leadership
What hard/technical skills are most important for Principal Consultants?
Jenny Scott: Consulting requires knowing the job itself, so industry experience is paramount.
Both "big picture/systems" thinking, as well as the ability to identify and understand details (analytical skills), is key skill in business consulting.
Don't forget the value of written communication skills. With fewer in-person meetings, being able to professionally, succinctly, and effectively write is one of the most coveted and essential skills.
Presentation skills are still - if not more - important today. Being familiar with a variety of presentation tools and platforms can be helpful; however, finding one or a few where you can be highly proficient will help achieve both efficiencies of communications, message delivery, and desired outcome.
What skills will help Principal Consultants earn the most?
Jenny Scott: -Emotional Intelligence
-Relevant industry experience (expertise)
-Written and oral presentation communication
-Ability to relate and connect . . .the best strategy in the world will live on paper only if the leader is not able to relate to their people (all stakeholder groups) and connect. Leadership involves three key elements: People - Influence - Goals. The most effective leaders are able to ethically influence their followers for the purpose of attaining the organization's mission and goals.
What soft skills should all Principal Consultants possess?
Jenny Scott: Emotional Intelligence is #1. The saying goes, "IQ gets you hired; EQ gets you promoted." Those that have a high level of emotional intelligence are able to first manage their own emotions and then the ability to manage the emotions of those they lead/supervise. It involves a combination of the practice of the four components of Emotional Intelligence: Self-awareness, Self-Management, Social Awareness, and Relationship Management. With workplace emotions running rampant in today's world, having a leader that can help manage those effectively will create and cultivate a calming and viable work environment.
Culture "fit" is also more important than some may think. While some may meet all qualifications of the job and can effectively do the job itself, how a person "fits" with the company culture is more important. Consider the company's core values, mission, and vision and whether that aligns with your own.
Critical thinking should never be underestimated. Depending on the amount of time allowed to make a decision or think through a strategy, apply critical thinking skills to consider all options and potential consequences. Consider varying perspectives and what route and outcome will aid in attaining the organization's goals and carrying out its mission.
Listening to the needs and desires of the organization or the project. Valuing some dissension and not total conformity leads to a highly cohesive team/organization.
Rashida Ng, RA
Associate Professor of ArchitectureTemple University
Tyler School of Art + Architecture
What soft skills should all Principal Consultants possess?
Rashida Ng, RA: At its best, the practice of architecture enhances the lives of people and improves the health of communities. To that end, architects must respond to complex and often competing conditions within a single project. As such, effective listening skills, and the ability to collaborate with project teams, consultants, and community members are essential in the field.
What hard/technical skills are most important for Principal Consultants?
Rashida Ng, RA: Given the climate crisis, architects must design buildings that reduce carbon emissions during construction and post-occupancy. Technical skills, including building information modeling, environmental impact assessments, and post-occupancy evaluations, provide essential information to reduce the environmental impact of buildings. As such, demand for these skills will continue to increase in the years to come.
What skills will help Principal Consultants earn the most?
Rashida Ng, RA: Architecture needs effective leaders. The most successful architects empower those around them to perform at their best. Those who advance in the field also consistently leverage constraints into possibilities as they inspire others to pursue a shared vision of a place that does not yet exist.
Michael Munger
Director of Undergraduate Studies, Director, PPE ProgramDuke University
Department of Political Science
What skills stand out on Principal Consultant resumes?
Michael Munger: Political science is an ancient career synergy, one that explores the connections between ethical considerations and engineering policy that works. Someone who majors in Political Science is able to make arguments about the questions that have plagued philosophers for thousands of years while using the latest data techniques to scrape online sources of information on social media. So political science instructors have to combine ethics, knowledge of esoteric procedures and laws, and statistics!
What soft skills should all Principal Consultants possess?
Michael Munger: Working in groups. And that's hard to teach. The best teacher is experience. Often, students learn the most when their group fails or the other members don't pull their weight. The ability to work in unstructured environments and still achieve group success is a big part of many jobs. And Political Science teaches that.
What hard/technical skills are most important for Principal Consultants?
Michael Munger: Political Science students should take at least one Computer Science class, be able to run a spreadsheet with skill, and be able to write crisp prose that gets to the point.
What skills will help Principal Consultants earn the most?
Michael Munger: The ability to lead a group by example and to get other people to feel that they are part of something larger than themselves. At its best, Political Science is like an entire little liberal arts curriculum. It's the perfect preparation for leadership, either in government or the private sector!
Mike Halloran
Teaching Professor, Management and Entrepreneurship, Taskforce Member, Center for InnovationXavier University
Management Department
What skills stand out on Principal Consultant resumes?
Mike Halloran: -In today's economy, I think there are a number of key skills that a business management consultant should have, especially if working with a small business. Key skillsets/coursework in finance, marketing, and strategy is essential. In addition, I would recommend coursework in Innovation as today's business world continues to evolve so quickly.
-I would also suggest that experiential learning and/or internships are very important to success. Showing demonstrated experience is a great way to stand out in the job market, as well as give yourself and the employer confidence that you can apply what you have learned in school.
-I often can look at a student's LinkedIn profile and tell whether they have the skills and experience-based upon how well they market themselves, describe their experiences, and talk about career objectives
What soft skills should all Principal Consultants possess?
Mike Halloran: -Leadership
-Working well with others
-Oral and written communication
- Thinking analytically, creatively, and strategically
-Leadership
-Time management
- Motivation and drive
What hard/technical skills are most important for Principal Consultants?
Mike Halloran: Excel
-Digital communication
-Budget management
Russell Triplett Ph.D.
Interim Chair and Associate ProfessorUniversity of North Florida
Department of Economics and Geography
What skills stand out on Principal Consultant resumes?
Russell Triplett Ph.D.: We must acknowledge that the pandemic remains a fluid situation with many implications that are not yet easily observed. That said, I see three key trends that are characteristic of our most successful students. First, the shift to remote working situations challenges employers to develop new ways to build teams and foster teamwork. Graduates that are well-prepared to collaborate and contribute in non-traditional ways are in high demand. Second, the pandemic accelerated the growth in platform-based delivery and retail services, generating a need for strong skills in data and business analytics. Third, it has always been true that graduates who are versatile and can think critically about the status quo are especially valuable; the shock of the pandemic created a more fertile ground for creative problem solvers and innovators.
Sourav Batabyal Ph.D.
Assistant Professor, Finance and EconomicsCoastal Carolina University
Finance and Economics Department
What soft skills should all Principal Consultants possess?
Sourav Batabyal Ph.D.: Creative thinking, Leadership, Adaptability, Communication, Empathy, Conflict Resolution, Work Ethic.
What hard/technical skills are most important for Principal Consultants?
Sourav Batabyal Ph.D.: Computer skills: Word Processing (MS Word), Spreadsheets (MS Excel), Visual Communication (MS PowerPoint, Prezi, etc.), Database Management (MS Access, SQL, Oracle, etc.), Graphics, Social Media.
Technical skills: Statistical Software(s) (R, SAS, MATLAB, etc.), GIS software(s) (ArcGIS, Tableau, etc.), Python Programming, Artificial Intelligence, Blockchain, Cloud Computing, Coding Language(s) (HTML, C++, Javascript, etc.).
Management skills: Project Management, Business Analysis, Accounting, Economics and Finance, Management and Decision Sciences, Operations Research, Marketing and Sales, Supply Chain, Human Resources, Office Management, Planning, Logistics, Agile software, Scrum management.
Marketing skills: Affiliate Marketing, Marketing Research, and Analytics, Search Engine Optimization, Social Media Marketing.
Analytical skills: Data Science, Data Mining, Database Management, Statistics and Econometrics, Analytics and Reasoning, Research, Testing, and Diagnostics.
Writing skills: Research and Report Writing, Editing, Content Management Systems, Social media updates.
Design skills: Adobe Creative Suite (Acrobat, Photoshop, Illustrator, InDesign, etc.), User Experience (UX) Design, Digital Product Design, Video Production.
What skills will help Principal Consultants earn the most?
Sourav Batabyal Ph.D.: Discipline related expertise, Industry-specific certification, Data Science and Analytics, Artificial Intelligence, Blockchain, Cloud Computing, Project Management, Mobile Application Development, Software Programming, and Testing, Leadership and People Management, Digital (Social Media) Marketing, User Experience (UX) Design, Content Creation and Open Learning Resources.
What's a common interview question, and would you prepare to answer it?
One of the most common interview questions is "Why are you interested in this position?"
By asking this question, your employer tries to understand that you have a true connection to the company and a passion for the job you have applied for. You should start your answer by explaining why you are the best-fit candidate in terms of professional skills. Research about the organization's culture before your interview and articulate how you embrace that mission personally and add values towards that mission. Show your enthusiasm and confidence while answering the interview questions.
What skills stand out on Principal Consultant resumes?
Sourav Batabyal Ph.D.: Problem-solving, Creative thinking, Data Analytics, Competitive Strategies, Communication, Leadership and Team Building, Decision making.
C. Darren Brooks Ph.D.
Assistant Department Chair and Executive Director, Center for Human Resource ManagementFlorida State University
Department of Management and the Center for Human Resource Management
What soft skills should all Principal Consultants possess?
C. Darren Brooks Ph.D.: While advancements in technology, artificial intelligence (AI), and data analytics occupy center stage in many areas of management practice, soft skills continue to be seen as equally or even more important skills for success in the field of management. Soft skills are typically described as personal attributes, qualities, and characteristics that enable us to interact more effectively with others. In most fields of management, our ability to communicate, work with, and interact with other people constitutes a significant portion of the work we do. Consequently, employers are focused on identifying candidates who possess strong skills are areas of communication (verbal, written, and non-verbal), leadership and followership, collaboration, an ability to work in teams, intellectual curiosity, adaptability, conflict management, problem-solving, creativity.
What hard/technical skills are most important for Principal Consultants?
C. Darren Brooks Ph.D.: As stated earlier, the field of management is broad and encompasses all industries and sectors. Consequently, the technical skills necessary to succeed will vary according to the specific knowledge and experiences required to understand the nuances of an organization. Accordingly, graduates who have business acumen and technical competency in a particular discipline or industry would be better positioned for employment opportunities. As a result, I always place emphasis on gaining internships and work experience concurrently with academic study. These experiences will provide a real-world understanding of the type of skills necessary to succeed in organizations as well as offer industry-specific knowledge. However, for many graduates, their practical skills are limited. In this case, it is important to ensure you have more generalizable skills that are applicable across industries, such as building digital fluency, analytical fluency, writing skills, and strong Excel skills. When speaking with consulting firms and industry employers, they repeatedly reference the need for graduates to demonstrate more advanced Excel skills.
What skills will help Principal Consultants earn the most?
C. Darren Brooks Ph.D.: According to the Bureau of Labor Statistics, employment in management occupations will grow over the next decade by 9%. Due to the broad array of management opportunities, variations in skills necessary for success are likely to exist based on the type of management work being performed and the industry or sector. However, there are general management skills or competencies necessary for success, including management consulting, that employers continually seek from graduates. The ten most sought-after skills include the following: critical thinking, intellectual curiosity, innovation/creativity, problem-solving, analytical fluency, digital fluency, adaptability, resilience, aptitude for collaboration and teamwork, and human capital management.
What skills stand out on Principal Consultant resumes?
C. Darren Brooks Ph.D.: Requisite skills relevant for management consulting roles that should be visible to employers can be grouped into the following three broad categories : (1) functional expertise and/or specialization of knowledge in particular areas or disciplines, (2) strong business analytics skills, and (3) the ability to lead projects or teams. Considering the broad nature of management, and particularly management consulting, skills should reflect the specific needs of the organization or industry of practice. For example, individuals working in executive compensation would require a different set of demonstrated skills on their resume than someone engaging in performance systems analysis to support process re-engineering within a manufacturing setting. Additionally, since management professionals work in and/or lead teams, being personable, engaging, proactive, demonstrated leadership, and an ability to handle difficult situations are all skills and competencies highly sought after. In sum, regardless of the industry or sector, most employers look for skills displayed both on a resume and then demonstrated during the selection process that shows the applicant possesses the capability to work within a team, has sound analytical skills, the ability to communicate complex information, resolve conflict and solve problems.
Jim McClenahan
Director of Career and Corporate OutreachUniversity of Nevada, Reno
College of Business
What skills stand out on Principal Consultant resumes?
Jim McClenahan: Most importantly, skills that are customized for the job you are applying. Someone could work in a restaurant and have great customer management skills that would work well in a bank. The key is identifying "transferrable skills"-how what you did is relevant for the job you are applying. The applicant has to articulate that-don't expect the committee, screener, or HR Recruiter to make the connections. For business majors, the skills that differentiate applicants are technical skills when they are relevant to the job. Data analysis, coding, SQL are often looked for by employers that have a tech focus as preferred skills.
Are there any particularly good places in the United States for Principal Consultants to find work opportunities?
Jim McClenahan: The trend of great opportunities consolidating in major metropolitan areas seems to be reversing. With working remotely appearing to be a permanent feature/benefit, find a place to live that offers a lower cost and great quality of life for you and your family! Build a variety of skills and achievements in different areas and find the right culture that matches your skills.
What are the biggest trends we'll see in the Principal Consultant job market given the pandemic?
Jim McClenahan: Rethinking work locations. Companies may recruit in areas that have lots of talent, cheaper cost of living and better quality of life. As an example, Incline Village is a small community on Lake Tahoe about 40 minutes from our campus. Every store is packed and the traffic is worse than any holiday weekend. Silicon Valley companies (about 4 hours away) have seen lots of people "temporarily relocate" to Lake Tahoe from the Bay Area. Now that some companies have permanently moved to at least a portion of their workforce as "work anywhere," communities like Reno, Boise, Missoula-ones with lower cost of living and better quality of life compared to the Bay Area may experience a mini-boom. It's already happening more in Reno.
The best candidates will be "swiss army knives." They have lots of different skillsets and with the flexibility everyone has demonstrated during the pandemic knowing how to do a lot of different things allows organizations to run a little leaner. Someone told me I was the ultimate "utility infielder" last week which I took as a high compliment! I think mastering lots of different skills is a key to employability for the candidate and success for the organization.
Finally, I expect small business hiring to be a mixed bag. Some are doing very well and expanding. Many others are struggling to survive and waiting to see how quickly lockdowns end and business returns before they start hiring.
Dr. Brian Wardyga
Professor of Communication; General Manager, 109.2FM WLAS & LCTVLasell University
School of Communication and The Arts
What soft skills should all Principal Consultants possess?
Dr. Brian Wardyga: Most important soft skills include organization and time management, thinking conceptually and practically, being concise and to the point, and exhibiting common courtesy and professionalism. Flexibility, curiosity, and the desire to work as a team are also important--strong communication skills.
What skills will help Principal Consultants earn the most?
Dr. Brian Wardyga: That answer is dependent on the specific market, really. Any combination of the above and the more of those skills, the better chance at negotiating higher earnings.
What skills stand out on Principal Consultant resumes?
Dr. Brian Wardyga: Today's business consultant should be able to showcase skills in project management, business strategy & outlook, and supply chain management & optimization. Evidence of collaboration & teamwork is also a big plus.
Within these constructs, one should identify key technical skills, evidence of decision making & critical thinking, verbal and written communication skills, and creative thinking or problem-solving examples. Lastly, evidence of working in focus groups and leading workshops or presentations are also standouts.
What hard/technical skills are most important for Principal Consultants?
Dr. Brian Wardyga: Technical skills such as accounting and project management and other computer skills demanded by the particular market. Beyond typical Microsoft Office skills would be Analytical software and marketing and presentation skills/tools.
Neil Boyd Ph.D.
David J. & Deborah West Professor of Management; Chair, Management and Organizations DepartmentBucknell University
Management and Organizations Department
What skills stand out on Principal Consultant resumes?
Neil Boyd Ph.D.: Previous consulting experience, whether it is early exposure during management consulting courses and experiential learning in college or via professional project exposure, is very helpful for understanding the obvious and nuanced issues in consulting. I've found that technical skills like project management, statistical analysis, and others are important, but most important are the so-called "soft skills" and the ability to connect with humans in a way that they know you are there to help. When talking to early-career consultants, I'm most impressed when they discuss the psychological considerations of running an opening meeting with a client or how they handled a murky situation through conversation instead of functional answers about survey design or billable hours.
What hard/technical skills are most important for Principal Consultants?
Neil Boyd Ph.D.: Project management, understanding and using concepts, models, and theory from management science, analytics, excel/SPSS/R, Powerpoint/Google Slides.
What skills will help Principal Consultants earn the most?
Neil Boyd Ph.D.: A combination of hard and soft skills, but at the end of the day, soft skills are critical to truly helping clients. And, for sure, they can be learned. This is a challenge for management education, but places like the Freeman College of Management at Bucknell work hard to develop soft skills in students primarily through coaching, experiential and community-based pedagogies, and professional development programming.
What soft skills should all Principal Consultants possess?
Neil Boyd Ph.D.: Humility, empathy, integrity, emotional intelligence, a concern for others, a desire to create community at work, a concern for social and environmental justice.
Will there be an enduring impact of the coronavirus pandemic on Principal Consultants?
Brett Horton Ph.D.: - The enduring impact is the opportunity to experience first hand coming out of a major hospitality economic downturn. Many hotels and hospitality operations are rebounding from near or complete closure. Such an amazing time to get in on the fast track to the top of an organization. There will be numerous opportunities that did not exist in March of 2020.
- Graduates are positioned to thrive more than the graduates in 2020 in that the number of open positions is huge. They have the opportunity to start with a career with great companies and great leaders and grow as fast as they so desire.
- The only downside may be moving up too fast and now being completely grounded in the basics due to being hired and put in positions of authority before they may be fully prepared.
What certifications/licenses/courses can have the biggest impact for Principal Consultants?
Brett Horton Ph.D.: The successful leaders are those who:
- Have a degree in hospitality management and understand what just occurred.
-There are few certifications necessary for work in the hospitality. Food safety is required for some positions, but this has likely been obtained while in school. Additional certifications may be obtained in the first 5 years of employment.
What will help Principal Consultants increase their earning potential?
Brett Horton Ph.D.: - Willingness to take on increased responsibility
- Willingness to move locations
- Willingness to work in different departments to learn and grow with the organization
Will there be an enduring impact of the coronavirus pandemic on Principal Consultants?
Michael Ellis Ph.D.: Most economics undergraduates obtain jobs as analysts, especially in the financial and non-financial business industries, because of their skills in analyzing data. The pre-coronavirus pandemic trend of increasing job opportunities for those who can analyze data will not be reversed by the pandemic and in fact may increase the growth of such job opportunities.
What certifications/licenses/courses can have the biggest impact for Principal Consultants?
Michael Ellis Ph.D.: Data analytics courses develop highly desired skills in the job market and would have the biggest positive impact on economics majors job prospects. A data analytics minor or certification combined with an economics major would be an excellent combination. If a data analytics minor or certificate is not available, students could take courses in econometrics, computer programing, coding and, in order to interpret data, economic theory.
What are the biggest trends we'll see in the Principal Consultant job market given the pandemic?
Dr. Dan Jensen: There will be a combination of opportunities and losses across the next 3-5 years because of the COVID-19 pandemic. Many industries will find it difficult to recover such as hospitality (hotels, restaurants, etc.), entertainment (movie theatres, night clubs, casinos, etc.), manufacturing, and educational services. But many industries and career pathways are opening up because of the use of online technologies. Positions that include remote work that leverage technology will remain and probably increase across time. Supply chain, project management, eCommerce, computer science, data science ("big data"), digital content, and artificial intelligence specialists will continue to increasingly be in demand. The healthcare industry has been in flux because of increasing costs but will emerge on the other side of the pandemic with opportunities for nurses, healthcare support staff, and related technologies (e.g., the "electronic healthcare record"). Irrespective of the pandemic, careers in sales or customer relationship management (CRM) will continue to be a popular launching point for recent college graduates.
The recruitment/hiring process is likely to become much longer than in the past and will rely on virtual interviews instead of face-to-face. With a high unemployment rate, it will be more difficult for younger, less experienced candidates to get hired. This is not great news for recent college graduates, but all is not lost.
Networking has always been the number one way that people find work opportunities. The skill is more important than ever. My recommended approach is to: identify a list of companies where you would like to work; research job postings within the company (and apply!) while simultaneously identifying contacts at the company (LinkedIn is a great tool to do this); then reaching out to contacts by using your existing network for an introduction (identify someone you know is already connected to the person you want to meet and ask them to forward a letter of introduction on your behalf). This leads to an "informational interview" (not a job interview); a chance to speak with someone about the company and its culture.
What certifications/licenses/courses can have the biggest impact for Principal Consultants?
Dr. Dan Jensen: Credentials viewed favorably vary from industry to industry and job to job. If you are focused on the positive trends (question 1 above), there are specialized certifications for nearly every role. Some certifications require that you have professional experience in the industry, but others can be earned prior to having relevant work experience.
Supply Chain (e.g., Certified Supply Chain Manager, CSCP)
Human Resources (e.g., Professional in Human Resources, PHR)
Project Management (e.g., Project Management Professional, PMP)
Sales (e.g., SPIN Selling)
Networking (e.g., Certified Cisco Network Associate, CCNA)
Customer Relationship Management (e.g., Salesforce certification)
Google Certifications (e.g., AdWords certification)
How have salaries changed over time for Principal Consultants?
Dr. Dan Jensen: According to the Society for Human Resources, salary projections for 2021 are being reconsidered by many employers and plans for salary increases or bonuses may not be as large as projected. Salary expectations will vary with industry, role, and level of experience. 35-40% of US businesses have frozen salaries at 2020 levels. According to the Bureau of Labor Statistics, a modest 3.0-3.5% increase is expected overall. Technology-driven roles are seeing among the largest increases in starting salaries as the battle to acquire talent continues to be highly competitive. Customer-focused roles with a technological focus (e.g., Customer Experience, CX) positions are also increasing compared to the past. Roles in accounting, finance, and general administration will see minimal change from the past year and vary based on industry rather than on the specific job title.
What are the biggest trends we'll see in the Principal Consultant job market given the pandemic?
Dr. Robert Gitter: 2021 is going to be a tough year for new college graduates to enter the job market. They currently face a much higher unemployment rate-almost four percent-than they did before the pandemic began. The good news, though, is that the rate is still less than half that experienced by those with only a high school diploma. The job market will improve as the pandemic (hopefully) is brought under control but it might be a few years until we see employment and earnings for college graduates recover to pre-pandemic levels.
What general advice would you give to a Principal Consultant?
Dr. Robert Gitter: I would advise students to think about where they would like to be in five years and what will help get them there. In the immediate term I would say do what you need to get by and pay off student loans but also be aware of what will help you in the long run. It would be a good idea to network as much as you can. What organizations do people belong to in the field you aspire to join? Make use of the network of alumni from your university. Students probably have a number of contacts from college; teachers, teammates, friends, colleagues from organizations they belonged to. Ask them for advice as well as family members and friends.
What Principal Consultant skills would you recommend for someone trying to advance their career?
Dr. Robert Gitter: Too many students believe there is a direct relationship between one's major and the occupation they wind up in. The relationship is a lot less direct than they believe. If a student were to take a gap year, I would recommend getting an internship or volunteer in a field they might want to enter or perhaps additional coursework in an area of interest. Frankly, in 2019 I might have recommended traveling to new places during a gap year but would not make the same recommendation today.
Will there be an enduring impact of the coronavirus pandemic on Principal Consultants?
Lauren D’Innocenzo Ph.D.: The coronavirus pandemic has certainly tightened the job market, with fewer available jobs in many sectors such as the service industry, but at the same time, has created many other opportunities for graduates in fields such as healthcare and supply chain. For new graduates, strategically considering opportunities may help to overcome some of the challenges presented in the current economy.
For example, if you are looking to gain experience in service, applying to service-oriented positions in IT or healthcare may offer more opportunities and give you more breadth of experience. I believe the potential for an enduring impact exists in a graduate's ability to adapt to changing demands and willingness to cast a wider net for available positions. Graduates who are myopically focused and unwilling to test their knowledge in different areas may not see the same opportunities, and over time, the lack of opportunities can add up. Now is a great time to work on your resilience and flexibility.
What type of skills will young Principal Consultants need?
Lauren D’Innocenzo Ph.D.: We are seeing more and more the need for core skills (formerly known as soft skills). These skills include being able to work in a team, leadership, critical problem-solving, and negotiations, to name a few. Many employers see these skills as transferable across contexts and increase the likelihood that the individual will be able to work with others and think outside of the box in collaborative, knowledge-intensive environments. We know that much of the learning for jobs occurs on the job and having these core skills can really help you to stand out as a team-oriented individual, who is willing to think beyond their own needs, and can learn organizational-specific skills needed to succeed in the employer's company.
What experience really stands out on Principal Consultant resumes?
Lauren D’Innocenzo Ph.D.: Similar to above, having experience around these core skills can really help anyone, including new graduates, stand out from the crowd. This experience can come from taking courses designed to build these skills or engaging in positions or internships that provide opportunities to grow these skills. For example, at Drexel University, we offer a program (Organizational Management) designed specifically to grow these skills through experiential learning that any student can take, regardless of undergraduate major. Outside of the classroom, being a peer leader, working as a camp counselor, or taking on an internship working in a team can be very helpful in building these skills. The key is to highlight these opportunities and skills in your resume. Don't just talk about the tasks you did, but describe the core skills needed for the position and built as a result of the position.
Additionally, remote and virtual work is not going away anytime soon. In fact, many organizations have offloaded brick and mortar locations and have strategically decided to rely more on remote business. Now more than ever, demonstrating your ability to successfully work in a remote environment will be extremely favorable for many employers.