Strategy consultants are an extra pair of eyes that look at a business and make suggestions based on its challenges and goals. They help with everything from increasing sales to cutting costs and beating competitors. Strategy consultants can work for consulting firms or as independent contractors. They may also work with businesses in any industry.
A day in the life of a strategy consultant involves analyzing a business' goals and practices, studying market trends, and evaluating the competition. A strategy consultant may also identify potential opportunities by collating and analyzing data.
Strategy consultants that work with consultancies may also prepare reports for upper management and brief them on progress. They require skills like financial analysis, proficiency with office suite programs, and an understanding of management frameworks.
Strategy consultants often start out by working in a particular industry, for example, consulting for insurance firms after a career in insurance. Alternatively, you can obtain a bachelor's degree in business management or related fields. Acquiring an advanced degree like an MBA is an advantage.
There is more than meets the eye when it comes to being a strategy consultant. For example, did you know that they make an average of $49.6 an hour? That's $103,164 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 strategy 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 problem-solving skills, time-management skills and analytical skills.
When it comes to the most important skills required to be a strategy consultant, we found that a lot of resumes listed 10.1% of strategy consultants included business strategy, while 8.4% of resumes included market research, and 8.0% of resumes included healthcare. Hard skills like these are helpful to have when it comes to performing essential job responsibilities.
When it comes to searching for a job, many search for a key term or phrase. Instead, it might be more helpful to search by industry, as you might be missing jobs that you never thought about in industries that you didn't even think offered positions related to the strategy consultant job title. But what industry to start with? Most strategy consultants actually find jobs in the technology and finance industries.
If you're interested in becoming a strategy consultant, one of the first things to consider is how much education you need. We've determined that 63.8% of strategy consultants have a bachelor's degree. In terms of higher education levels, we found that 27.3% of strategy consultants have master's degrees. Even though most strategy 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 strategy consultant. When we researched the most common majors for a strategy consultant, we found that they most commonly earn bachelor's degree degrees or master's degree degrees. Other degrees that we often see on strategy consultant resumes include doctoral degree degrees or associate degree degrees.
You may find that experience in other jobs will help you become a strategy consultant. In fact, many strategy consultant jobs require experience in a role such as consultant. Meanwhile, many strategy consultants also have previous career experience in roles such as internship or project manager.