Consulting jobs are known to be among the highest paid in the world. With the right strategies, you can secure a highly paid consulting job for yourself. Kristina Kang, Senior Change Management Consultant, shared with me what it's really like to work in the field. We discussed what the title of “consultant” means, the paths you can take to enter the industry, the skills you need to succeed, and what you can expect to get paid when you're just starting out.
Financial consultants address challenges related to accounting practices, risk management, taxes, and other money-related issues. The fee you may charge will depend on the number of aspects of a project that you can consult on and the value of those results to the client. A big part of the success of consulting firms is to present this knowledge in a safe and digestible way. The “Four big consulting or accounting firms” are Deloitte, Ernst and Young, KPMG and PwC.
The big gap in consultant pay is between independent consultants and analysts at large consulting firms. That's the most typical way, and it's for people who know at a young age that they want to go to consulting. Therefore, consultants not only pursue a well-defined problem-solving strategy, but they also segment the consulting industry into several specific areas. I haven't found a good barometer of how consulting as an industry is responding to this increase in new employee salaries versus rising salaries for current employees. A consultant has to use a variety of skills, such as problem solving and interpersonal communication, to work with those who need their services.
Then, as I was leaving consulting after 2 years, my managers acted surprised that I was going to look for a job just because I paid more. There are also people who will gain a lot of work experience in an industry, get an MBA, and then be recruited into a consulting firm. Some of these consultants may already work for government or small non-profit organizations to promote sustainable procedures. The typical path that people see in consulting is that you work at a large consulting firm for two years, and then you leave and do whatever else you want to do, whether it's going to work at a startup or working internally in a large organization and being on the client side. Here's a breakdown of management consultant salaries according to the top three consulting firms.
Consultants are held accountable once hired to provide their expertise, analysis and purpose solutions to minimize risk to an organization. If you're looking for a highly paid consulting job, there are certain steps you can take to increase your chances of success. First off, research the different types of consulting jobs available and decide which one best suits your skillset. You should also consider getting an MBA or other advanced degree if it will help you land a higher paying job. Additionally, networking is key when it comes to finding high paying consulting jobs; reach out to people in your field who may be able to help you find opportunities.
Finally, make sure your resume is up-to-date and tailored specifically for each job application. This will help demonstrate your qualifications and make sure your application stands out from the rest. With these tips in mind, you'll be well on your way towards securing a highly paid consulting job.