Enrol Now
Business & Management

How can I get a career in the consulting industry in 2022?

Admin | July 12, 2022

The consultancy sector has experienced phenomenal growth and is continuing to grow. After graduating, a growing number of young professionals with business management or economics backgrounds opt for a consulting job. This career attracts many people because of its high demand, exposure, and attractive compensation packages. Every year, many seasoned experts decide to join the consultancy industry, either directly as a consultant or independent consultant for a company, or indirectly through one of these routes. 

Businesses hire consultants to create strategies, address operational issues, and support transformation. A consultant frequently asks for business information and interacts with top management to discuss how things are done and the company’s objectives. They could recommend improving productivity across the team members of the entire company. You can determine whether consulting is the appropriate career choice by learning more about consultant careers, salary, and employment. In the article, we’ll discuss consulting jobs, examine consultants’ tasks, and discover the skills needed to work as one.

What’s a consultant job? 

The effective reply to the question “What is a consultant job?” is as follows: Consulting jobs typically include providing professional knowledge, skills, and services to clients to solve their problems. To execute effective asset optimisation during crucial business operations, consultants contribute specialised expertise and experience. Consulting specialists frequently assess the significant issues and make solutions after spotting inconsistencies in an organisational strategy or procedure. They might also develop novel solutions to help businesses become more productive, develop new ideas, and boost sales.

What does a consultant do? 

Consultants provide thoughtful professional judgement, analyse corporate operations, and make actionable business recommendations. To improve business productivity, they also develop plans and strategies. Consultants are valuable assets to increase the business’s profitability since they offer ideas from different viewpoints. Most consultants start by working for consulting and professional service firms, and those with sufficient experience may work directly with customers as independent consultants. The obligations and responsibilities of most consultant projects are essentially the same regardless of the media or domain you select. Businesses use consultants to accomplish assignments because of their extensive knowledge and subject expertise. Consultants usually have expertise in marketing, sales, product innovation, human resources, mergers, and acquisitions, or even the introduction of IPOs (Initial Public Offerings). 

Types of consultancy jobs

The consultation industry has many distinct consultants because it is one of the most diverse markets in the professional services sector. Branch-specific associations have developed various definitions to classify the various types of consultants. Following are some of the different types of consultants:

  • Marketing Consultant
  • Financial Consultant
  • Systems Consultant
  • Management Consultant
  • Associate Consultant
  • HR Consultant
  • Technology Consultant
  • Investment Consultant
  • Sales Consultant
  • Software Consultant
  • Business Consultant
  • Security Consultant

Can a consultant earn well? 

Consultants provide their knowledge, analysis, and solutions to reduce the risk for a business. It’s a position that a corporation would value, especially if they wanted an outsider’s perspective on the direction and state of their business. Consulting roles can be financially rewarding for employees depending on the industry and the company. The average salary of a consultant in India is around INR 11,00,000 per year.

The table below shows a list of the top companies in India hiring consultants and the average pay provided by them:

Company NameAverage Annual Salary
Capgemini₹ 8.9L
Deloitte₹ 12.1L
Infosys₹ 13.4L
Ernst & Young₹ 10.7L
KPMG₹ 12.6L
HCL Technologies₹ 14.2L
TCS₹ 20.1L
Wipro₹ 11.8L
Genpact₹ 8.9L

ALSO READ: 10 best career options for you after an online MBA

Key trends in the consulting industry

Followings are some of the trends in the consulting industry:

  • Digitalization and AI to boost business performance

Consultancies are adapting to innovative technologies as they embrace AI and digital solutions to enhance their data processing and supply chain management. Massive amounts of data can be sorted by AI considerably more quickly than traditional methods, giving customers a more knowledgeable and superior service. This trend will also enable experts within the sector to have an enhanced decision-making work process.

  • Development of cloud capabilities

Cloud-based services will become more popular as remote and online jobs become more prevalent. It has increased the amount of advice service industry professionals give customers about adopting the cloud, which has caused consultancies to grow their capacity for cloud services via investments, acquisitions, and partnerships.

  • Global hiring for specialised posts

Consultancy services will become more popular as the economy keeps improving and the markets reopen. Companies are growing their global workforce in response to this demand and providing chances to experts. These crucial fields will require experts in software engineering, cloud computing, digitisation, change management, and conventional strategic consulting positions.

  • Updated retention tactics

Because of the anticipated increase in the demand for consultants, consulting firms will seek to retain top personnel by examining various retention techniques. Both companies and employees want sustained flexibility; thus, hybrid working patterns implemented during the pandemic will persist. Aside from evaluating pension and well-being benefits, consulting firms are also looking into other long-term strategies for staff retention.

Why should you seek a job in the consultancy industry? 

Let’s proceed with the query “Why consulting as a career option?” Working as a consultant can be a great career choice with many advantages. Top factors for thinking about a future in the consulting sector involve:

  • Career progression

Compared to working directly for a corporation, consulting work may offer more prospects for career progression. As an independent consultant, potential clients might judge you based on your previous work for prior clients. A track record of exceptional work may help you stand out as a candidate when competing for a position with responsibility.

  • Choice of profession

Due to the contractual nature of most consulting jobs, full-time consultants have a great deal of control over the projects they accept. You can choose which ventures you want to work for by adjusting the businesses for which you customise your bids or services. It can enable you to pursue your desired professional path.

  • Remuneration

Business consultancy is a profitable career path for those who are excellent at their jobs. For instance, hiring a consultant to assist a vast corporate business can bring enormous earnings to that business. Thus the ideal consultant might be offered substantial remuneration.

  • Exit strategies

There may come a point when a professional leaves the industry and goes for full-time employment with a single business. Individuals may also have recourse to additional network links after working as consultants. When looking for a new job, they can also provide prospective employers with a track record of successful past performance. 

  • Networking

A consultant meets more individuals and develops more enduring personal and professional relationships with them than an employee who stays with one employer for the duration of their employment. You can benefit from an extensive network whether in a consulting role, looking for work, or starting your own business.

How to become a consultant? 

Becoming a consultant takes formal education, training, and practical company experience. The answer to the question “How to become a consultant?” is listed below to help you in your quest to become one.

  • Earn a bachelor’s degree

Earn a bachelor’s degree first to gain a basic understanding of various corporate agendas and pinpoint your preferences. You can take a master’s degree after deciding on your preferred consulting area.

  • Select a domain

Typically, consultants provide their services and subject-specific knowledge to specialised fields. Your region of specialisation can be chosen based on your skills and inclinations. After this, you might also consider enrolling in short-term courses to improve your expertise.

  • Select a consulting mode

You could provide consulting services either as a full-time employee of the company or as a freelance consultant. Your career objectives, desired level of professional independence, and financial flexibility status will influence your decision.

  • Self-marketing

Self-marketing aids in establishing your credibility in the business sector. Proper representation of your brand functions as a potential lead can increase your clientele. Choose the organisations and initiatives you want to collaborate with, produce observable and quantifiable results, and spread the word about them within your network to build your image and brand.

  • Acquire practical experience

Start gaining relevant experience to highlight your consulting abilities. Working on projects in your area of expertise is essential whether you are an independent consultant or employed by a company. Work on projects to portray your knowledge and skills.

Key skills for a consultant 

Most consulting positions call for you to gather and analyse business measurements, alter corporate plans, and implement processes to assist businesses in achieving their objectives. The following are the critical skills required for consulting:

  • Managing time

Using time effectively is crucial, especially when there is a deadline approaching. Independent consultants managing multiple clients at once must be precise about their time management.

  • Problem-Solving

Since consultants are engaged in solving complex issues, the most crucial quality is the intrinsic capacity to analyse the challenges and produce workable answers that address the customer’s needs.

  • Analytical thinking 

Developing management strategies requires a lot of different parts, and consultants need to think analytically to put them all together and assess them all independently and collaboratively to make everything work.

  • Outstanding communication

One of the essential skills for a consultant is the capability for both group and one-on-one communication. Consultants must communicate their recommendations to clients in writing and spoken form so that everyone, irrespective of background, can understand them. 

Can I become a consultant with an online degree? 

Yes, definitely. In a competitive industry, consultants need a bachelor’s degree at the very least. A business degree can be the best option for people who are unsure of which academic path they should take because it is a broad field that covers a variety of subjects. The bachelor’s degree can be in any specialisation as long as it is business, psychology, accounting, or a related field. These are the subjects that will be helpful to aspiring consultants.

Whether you decide to study a BBA or a BCA, choosing a career path might help you determine what is best for your future and will make you successful in the consulting field. Online Master’s degree in these disciplines, i.e., online MBA or MCA, can lead you a step ahead on your desired career path. Since online programmes in India are on par with those offered by other colleges and are recognised worldwide, you can apply for online courses at a reputable institution.

Be prepared for a consultant job with a degree from Online Manipal 

One of the wisest moves you can make is to enrol in an online degree programme at Manipal University Jaipur. Get a certification that will aid you in achieving your job objectives by excelling in your preferred field, thus leading to a promising career in the consulting field. These courses are offered through academic experts that help students gain and improve skill sets they can use in various career profiles. Enrolling in an online programme at MUJ will be well worth your money because they have UGC approval, AICTE certification, and a NAAC A+ score.

The faculty of MUJ is skilled at delivering complete assistance to learners with technologically supported resources and procedures. Also, there is a substantial alumni association of students with an online degree from MUJ. They assist students seeking advice and aid in their careers by offering assistance and networking possibilities.

 Conclusion

India’s consulting industry is expanding quickly and reaching new heights globally. A strategy must be developed to take advantage of the enormous potential for the consulting market expansion that exists. Management consulting jobs can be a fantastic career choice if you’re keen to work for large organisations, MNCs, or straight with the C-suite or top executives. This vocation has a good pay scale and constantly presents new challenges. Consider a career in management consulting if you like to work in a team, solve problems, and rise in your profession. 

A certification or degree earned online from an institute like Manipal University Jaipur is equivalent to a degree from any other Indian university. A degree from this university will serve you well if you want to work in the corporate sector. So, hurry and enrol in an online degree course to pursue a career in the consulting field.

Enrol with us

Interested to join our courses?
Share your details and we'll get back to you.



    Send OTP


    OTP verified
    Invalid OTP