Management Consultant Job Description
Management consultants, also known as management analysts, analyze and evaluate day-to-day operations and employee duties within various businesses to find ways to improve company profitability and efficiency. Consulting firms and large corporations hire management consultants for full-time hours, but management consultants may also work for themselves as independent contractors. Management consultants work primarily in office environments, often as temporary visitors within companies who have hired their services, but may also serve as in-house consultants for large corporations. Management consultants often travel to businesses to perform their duties, and sometimes travel for extended periods of time.
Management Consultant Duties and Responsibilities
Daily job tasks performed by management consultants vary based on the size of the company they’re evaluating, the industry, and whether they work for themselves, a consulting firm, or a large corporation. However, the core duties for management consultants are universal despite these variables.
Management consultants identify existing problems within a business that may be negatively impacting profitability or harming the company’s brand image.
Analyze Business Structure
Management consultants analyze business structures to search for inefficiencies that may affect the company’s bottom line.
Evaluate Management Staff
Management consultants evaluate management staff members within a company, working closely with them to monitor their behavior and daily tasks in order to find behaviors that can be changed to increase company profitability.
Interview and Observe Employees
Management consultants interview and observe employees within a company to locate problem areas and find ways to improve staff functions.
Analyze Financial Data
Management consultants analyze company financial data to find excess spending and locate budget improvements that can increase company revenue.
Create and Give Presentations
Management consultants create and give presentations showcasing areas of improvement for business.
Management consultants organize employee and management workshops to increase staff productivity.
Meet with Clients
Management consultants meet with business owners and executives to determine their needs and find out what changes they hope to see in their business.
Management Consultant Skills and Qualifications
Management consultants analyze business operations and finances, interview employees, and evaluate staff and management functions to find ways to increase company profitability. Businesses that hire management consultants look for professionals who have all the skills needed to perform the functions of this job.
- Analytical ability – management consultants evaluate and analyze business operations, finances, and employees, which requires strong analytical skills
- Sales – because management consultants look for ways to increase company profitability, employers look for professionals with strong sales skills and a good understanding of sales for this job
- Management – management consultants analyze management structures and employees within a business, which requires strong management skills
- Communication skills – management consultants use verbal communication skills to work closely with managers and staff members within a company and tell them ways they can improve their efficiency and job skills to improve business operations
- Attention to detail – management consultants perform extensive evaluations of employee behavior, management operations, and other aspects of businesses, which requires strong attention to detail
- Mathematics – as management consultants study financial data for businesses, some math skills are essential for this job
- Problem-solving – management consultants look for problems within companies and find solutions for them, which requires excellent problem-solving skills
Management Consultant Education and Training
Most businesses require management consultants to have a bachelor’s degree in business management or a related field. Employers who hire management consultants also look for professionals with past business experience or previous successful business ownership. Due to the nature of the job management consultants perform, employers also seek professionals who have extensive management experience.
Little to no training is provided to management consultants, who already have the education and skills required to perform their normal job duties. Companies who hire management consultants to work in-house or as traveling consultants may provide a brief training or orientation period, typically no longer than two weeks. Management consultants who work as independent contractors receive no training and are expected to perform their duties upon being hired for a specific job.
Management Consultant Salary and Outlook
According to the Bureau of Labor Statistics (BLS), management analysts earned $82,450 median annual and $39.64 median hourly income in 2017. Management analysts and management consultants perform the same job duties, and the two titles are used interchangeably. There were more than 800,000 jobs for management analysts in 2016. BLS projections show that this number will increase by 14 percent through 2026, a rate that is faster than the national job growth average.
Corporations that hire management consultants for full-time hours provide benefits packages that include health insurance with dental and vision coverage. Life insurance, paid vacation days, and retirement planning options are commonly provided as well. Management consultants also receive travel reimbursement benefits from full-time employers. However, management consultants who work for themselves as independent contractors receive no benefits and must manage their own travel, vacation, and insurance needs as gig-based workers.
Use these helpful resources to learn tips and techniques management consultants need to know, find training programs, and read informative content:
Consulting Success – find training courses, listen to podcasts, and read content designed for management consultants at this professional website.
The Management Consultant: Mastering the Art of Consultancy (Financial Times Series) – learn what it takes to be successful as a management consultant with this book that serves as an in-depth guide to the career. The text includes answers to all the critical questions management consultants commonly face.
Association of Internal Management Consultants – browse certification programs, find job listings, and discover networking opportunities for management consultants at this website.
Cracked it!: How to solve big problems and sell solutions like top strategy consultants – use this book to find out how to solve even the most complicated problems that face management consultants, and discover useful strategies for avoiding common pitfalls. Professional strategy and management consultants also offer their own tips and techniques in this helpful guide.
The International Council of Management Consulting Institutes – read industry news and find upcoming events for management consultants at this website.
The Essential Management Toolbox: Tools, Models and Notes for Managers and Consultants – find out more about the tools and techniques management consultants need to know with this book that provides in-depth information about the strategies needed to be a success at this career.
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