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About

A management consultant is a professional who provides expert advice and guidance to organisations in various industries to help improve their performance as well as efficiency. Their primary responsibility is to analyse a company's current business practices and provide recommendations on how to optimise processes, reduce costs, increase revenue as well as improve overall performance.

Typically, a management consultant works with senior executives and management teams to identify areas of improvement as well as implement strategies to address those issues. Furthermore, they also conduct research, analyse data, develop financial models and create presentations to communicate their findings along with recommendations to stakeholders.

Eligibility

For Bachelor’s

<ul>
	<li style="list-style-type:disc">The scholars are required to clear their 10+2 board examinations with a minimum of  60% grade from an authorised education board.</li>
	<li style="list-style-type:disc">The aspirants can apply for a Bachelor’s degree in the field of engineering, computer science, accounting, finance, economics, law and so forth. </li>
</ul>

For Masters

<ul>
	<li style="list-style-type:disc">The successful graduates must pursue a Master's degree in MBA to become a management consultant. </li>
	<li style="list-style-type:disc">By pursuing MBA, the seekers will attain skills and all the required knowledge to crack the interview in the top MNC’s.</li>
</ul>

Top Colleges/Universities

There are various institutions that are highly regarded for their academic rigour as well as reputation for producing top-quality management consultants. Additionally, many of these institutions have strong industry partnerships and offer ample opportunities for students to gain real-world consulting experience through internships and projects.

<ul>
	<li style="list-style-type:disc">Indian Institute of Management Ahmedabad (IIM-A)</li>
	<li style="list-style-type:disc">Indian Institute of Management Bangalore (IIM-B)</li>
	<li style="list-style-type:disc">Indian Institute of Management Calcutta (IIM-C)</li>
	<li style="list-style-type:disc">Indian School of Business (ISB), Hyderabad</li>
	<li style="list-style-type:disc">Faculty of Management Studies (FMS), University of Delhi</li>
	<li style="list-style-type:disc">Jamnalal Bajaj Institute of Management Studies (JBIMS), Mumbai</li>
	<li style="list-style-type:disc">SP Jain Institute of Management and Research (SPJIMR), Mumbai</li>
	<li style="list-style-type:disc">Xavier School of Management (XLRI), Jamshedpur</li>
	<li style="list-style-type:disc">Management Development Institute (MDI), Gurgaon</li>
	<li style="list-style-type:disc">National Institute of Industrial Engineering (NITIE), Mumbai</li>
</ul>

There are many top colleges and universities abroad that offer management consulting programs. Here are some of the top institutions:

<ul>
	<li style="list-style-type:disc">Harvard Business School, USA</li>
	<li style="list-style-type:disc">Stanford Graduate School of Business, USA</li>
	<li style="list-style-type:disc">INSEAD Business School, France/Singapore</li>
	<li style="list-style-type:disc">London Business School, UK</li>
	<li style="list-style-type:disc">Wharton School at the University of Pennsylvania, USA</li>
	<li style="list-style-type:disc">Kellogg School of Management at Northwestern University, USA</li>
	<li style="list-style-type:disc">Columbia Business School, USA</li>
	<li style="list-style-type:disc">MIT Sloan School of Management, USA</li>
	<li style="list-style-type:disc">Said Business School at the University of Oxford, UK</li>
	<li style="list-style-type:disc">Judge Business School at the University of Cambridge, UK</li>
</ul>

Job Roles

Top Recruiters

Management Consultants are employed by a wide range of organisations including both small as well as large corporations. Top recruiters of management consultant are listed as given below:

Employment Sector

Salary

The pay for a consultant management can vary according to a variety of factors including the size of the company, the location, the industry and the number of years of experience.

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			Level of Salary
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			Salary Package per Year
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			Starting Salary
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			<td style="border-bottom:1px solid #000000; border-left:1px solid #000000; border-right:1px solid #000000; border-top:1px solid #000000; vertical-align:top; width:216px">
			Approx Rs 4,00,000
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			Mid Level Salary
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			Approx Rs 12,00,000 
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			Senior Level Salary
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			Approx Rs 20, 00,000 
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Skills

<ul>
	<li style="list-style-type:disc">Analytical thinking</li>
	<li style="list-style-type:disc">Communication</li>
	<li style="list-style-type:disc">Project management</li>
	<li style="list-style-type:disc">Strategic thinking</li>
	<li style="list-style-type:disc">Data analysis</li>
	<li style="list-style-type:disc">Interpersonal skills</li>
	<li style="list-style-type:disc">Creativity</li>
	<li style="list-style-type:disc">Leadership</li>
	<li style="list-style-type:disc">Industry knowledge</li>
</ul>

Scope

The career scope of a management consultant is quite broad and can lead to various opportunities. These consultants can work in large consulting firms such as McKinsey & Company, Boston Consulting Group and Bain & Company.  Large corporations often have internal consulting teams that work on projects across the company. Management consultants can join these teams and work on projects that focus on improving business processes, increasing efficiency and driving growth. The management consultants can work with startups to help them develop their business strategy, scale their operations and navigate challenges that arise during the growth phase.

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