To reiterate, management consulting work often requires long trips, a lot of time with clients, and even a lot of additional time to process and analyze the work, even when you're not with the clients. It is this level of tenacity, ambition and commitment to excellence that major firms not only actively hire for, but also require in their work as consultants. The work of a consultant is often a challenge. You'll end up working on some of the most difficult business problems that top executives face.
Clients of major consulting firms pay a large sum to have consultants work for them, so naturally they expect highly engaged personalities. Above all, there aren't many positions in major consulting firms. The reason for this is simple. In a single consulting project, the “hard yards” that analysts don't take so much time.
If you compare it to a law firm or an investment bank, its basic cases or M&A projects require an enormous amount of work hours. And that's just to carry out their most basic work. Literally, they need to hire so many graduates to do proofreading in a law firm and calculating numbers in a bank. Consulting ranked sixth in our recent ranking of the most stressful jobs in financial services, right in the middle of the group.
However, almost every role considered to be the most stressful had an income-generating component. Risk management was the only outlier. Adding business development responsibilities dramatically increases the maximum compensation limit, but it can also increase a person's blood pressure, especially when it comes to a new position. I don't build them myself, but rather manage the project and work with the different internal partners and customers.
Strategy consultants advise management teams on high-level decisions, such as prioritizing entry into new markets, developing pricing strategies, mergers and acquisitions, how much to invest in research and development, how much to invest in research and development, how to structure the organization and how to deal with competitive threats. This rarely happens in management consulting, where the results of the solutions that were implemented or suggested only become clear long after the company moves in. And so, in the month before, anyone who wants to apply for promotion talks to their manager and presents a case. I achieved this thanks to the great support of my manager, my peer coach and my human resources business partner.
These are also large consulting firms that focus more on management consulting, specifically strategy consulting, while the “big four” are accounting firms that also offer consulting. A management consultant, or technology consultant, is a person or company that helps a company with the different problems it may have. Another difference is that many of the master's programs in management that I was watching are shorter. As for the promotion aspect, for me, I would say that I intended to communicate with my manager and my human resources business partner.
Kristina Kang, senior change management consultant, told me what it's really like to work in the field. Consulting is a highly sought after professional option and involves one of the most difficult hiring processes in the business world. We spoke with several current and former management consultants to discuss some of the unspoken pros and cons of the job that outsiders may not be aware of. It's quite common for people promoted to a project manager position to move to the level of vice president in a large company (p.