MANAGEMENT CONSULTANT

management consultancy nareshmalhotra

MANAGEMENT CONSULTANT

WHAT’S IT ABOUT ?  

Management consultants help organizations improve their performance by providing amicable solutions to their existing business problems. Further, it also involves development of plans for new and existing business concerns to cater to varied purposes. Organisations hire management consultancy services to get tailor made solutions to their problems or tricky situations like mergers, acquisitions or amalgamations. Project management consultants also provide organisational of coaching skills, technology implementations or strategy development

CLOCK WORK

9 am: Setting the action plan for the day sitting with colleagues or seniors

10 am: Conduct thorough research on the industry vertical

2 pm: Study Company reports to analyse them

3 pm: Share the results with mentor to assess the plan of action

4 pm: Resume analysis, try and find solutions to company’s problem

THE PAYOFF

Initially in the field of project management one can earns much as Rs 5 to Rs 8 lakh per annum and, after a few years, take home Rs10 lakh to 15 lakh per annum. The salary increases rapidly with experience. In fact, salary or perks has no upper limit for deserving candidates who have the killer instinct to succeed and perform better than the bests. Your experience and the projects you undertake make your goodwill and help you in earning name, fame and wealth.

SKILLS

  • Mathematical and analytical skills should be of the highest standards so that you can identify company-specific problems
  • You’ll require good communication skills to clients
  • Good understanding of all aspects of business management

HOW DO I GET THERE ?

  • Generally, a candidate must be an MBA from a reputed college/university to land a consultancy job because this is a highly responsible career which can make or break a company. Sometimes, Students take Engineering at graduation level and later do the masters in Commerce (MBA). This qualification ensures that you get placed at a senior position, like an associate or a consultant. Many Students opt for Human Resource as a major in their MBA to opt HR consultancy  as a career which has gained a lot of importance lately.

INSTITUTES & URLS

  • Indian Institutes of Management (IIMs) of India
  • Faculty of Management Studies, Delhi (fms.edu)
  • Indian Institute of Foreign Trade, Delhi
  • IMI, Delhi (imi.edu)
  • Management Development Institute, Gurgaon (mdi.ac.in)

PROS AND CONS

  • Good money while working in reputed management consulting firms
  • Allows exposure to different domains of business
  • Very demanding and nerve wrecking
  • The mistakes are highly risky so you have to ensure you perform well consistently. You can’t afford to make mistakes
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