The job of a consultant is often a challenge, and it's no surprise that consulting ranked sixth in our recent ranking of the most stressful jobs in financial services. Clients of top consulting firms pay a large sum to have consultants work for them, so they expect highly engaged personalities. However, almost all of the positions that were considered most stressful had an income-generating component. Risk management was the only outlier. In management consulting, you will end up working on several tasks, which will often be of a very different nature.
Firms like McKinsey, Boston Consulting Group, Bain, and Deloitte Consulting are some of the most sought-after in the world for good reason. These companies are renowned for their rigorous selection process and high standards. Additionally, many of the master's degree programs in management that I was studying are shorter than other graduate programs. Management consulting, along with financial services, are among the best options for most MBAs, other graduates, and even experienced professionals. As a consultant, you can schedule your vacation so that it takes place between commitments and you can completely disconnect from your work for 2 to 4 weeks.
One of the most common consulting projects involves reducing costs when a company has grown too fast and is not operating at maximum efficiency. Management consulting firms offer a unique opportunity to learn from a wide range of people, problems, and industries. The extent of this depends on factors such as the management consulting firm you join, your efforts to establish contacts within the company (so that you know when opportunities arise to work in interesting places and people know that you are available and that you have the necessary skills to be chosen for those opportunities), and on your luck. Kristina Kang, a senior change management consultant, told me what it's really like to work in the field. The consultants told us that many of their former colleagues started working for former clients, if not directly, after one or two years, depending on their lack of competence. You may be considering entering management consulting but you may not be sure if you understand why dedicating yourself to this field is different from strategy consulting which is just one type of consulting within the larger framework of management consulting.
This is the most common way to enter this profession and it is for people who know from an early age that they want to dedicate themselves to consulting. So is being a management consultant hard? It can be challenging at times but it also offers unique opportunities to learn from different people and industries. It's important to understand what you're getting into before making the leap into management consulting. With the right preparation and dedication, it can be an incredibly rewarding career.