A Management Consultant helps companies and other organizations to improve their performance. Their work may be broad, such as planning a strategy, or it may be specific, such as to devise a staff reward scheme.
Management consultancy involves a range of skills. In addition to having specialist knowledge, consultants must be able to analyze problems, propose solutions, and help clients implement them.
An effective management consultant must also be able to build relationships and get on with people. Often, they may have to work closely with clients, as part of a team. However, at all times, the consultant needs to maintain an objective, independent view.
Hierarchy of involvement
A useful way to look at how consultants relate to client organizations is to see the process as a hierarchy of involvement. This comes from an idea that Arthur N. Turner first described in a 1982 article in Harvard Business Review. He named it the “hierarchy of purposes.”
Turner’s hierarchy has eight steps. The greater the step number, the more involved the relationship between consultant and client. The eight steps are:
- Supply information in response to a specific request.
- Provide a solution to a specified problem.
- Diagnose a presenting problem: perhaps even redefine it.
- Make recommendations in line with the diagnosis.
- Assist client to implement recommended changes.
- Build commitment around implementing changes.
- Help client learn how to solve similar problems in the future.
- Improve organization’s ability to adapt to a changing world.
What do the best consultants do?
No matter how close they are to the client, the role of the management consultant is to influence and is not to control.
Although they can become deeply involved with the problem and its analysis, management consultants remain outsiders. They make it clear that the problem belongs to the client, as does responsibility for deciding solutions.
Management consultancies range in size from independent individuals to large global companies that employ thousands of consultants around the world.
Accenture is one such global company that offers management consulting among its services. Alexandra Nuth was a strategy consultant with the firm before becoming managing director of ATB Financial.
In Nuth’s view, the best consultants:
- Build trust by doing exactly what they say they will do.
- Pay attention to detail.
- Have an area in which they excel.
- Think before they act.
- Face tough problems with resourcefulness.
- Not be afraid to ask questions.
World’s largest management consulting firms
Here are the top ten management consulting firms according to revenue for the fiscal year 2021-2022.
- Deloitte Consulting – New York, USA – $50+ billion
- Accenture – Dublin, Ireland – $50+ billion
- PwC (PricewaterhouseCoopers) Advisory – London, UK – $45+ billion
- Ernst & Young (EY) Advisory – London, UK – $40+ billion
- KPMG Advisory – Amstelveen, Netherlands – $30+ billion
- McKinsey & Company – New York, USA – $10+ billion
- Boston Consulting Group (BCG) – Boston, USA – $10+ billion
- Bain & Company – Boston, USA – $4+ billion
- Booz Allen Hamilton – McLean, USA – $7+ billion
- Capgemini – Paris, France – $18+ billion
Note: These figures can fluctuate from one year to the next. It is always best to check the latest financial reports from each company.
How to become a management consultant
1. Education
A solid educational background is the first step. The majority of management consultants hold at least a bachelor’s degree, often in fields like business, economics, or engineering. Many also pursue an MBA to deepen their business knowledge and improve job prospects. Excelling in relevant coursework (such as finance and analytics) and maintaining a strong academic record helps build a solid foundation.
2. Skills Development
Consulting requires a broad skill set. Key abilities include analytical and quantitative problem-solving, communication, teamwork, and leadership. You’ll often work under tight deadlines, so being organized and calm under pressure is important. Build these skills through activities like case competitions, group projects, and public speaking.
3. Work Experience
Practical experience makes you a stronger candidate. A consulting internship is ideal since it provides firsthand exposure and can lead to a job offer. If that’s not an option, seek roles in related business fields or take leadership positions in student organizations. Demonstrating commercial awareness, teamwork, and leadership in real-world settings will help you stand out.
4. Networking
Networking is crucial for breaking into consulting. Use your school’s alumni network and LinkedIn to connect with consultants for informational interviews. Attend on-campus events—such as presentations and career fairs—where consulting firms recruit to meet recruiters and learn about firms. Join consulting clubs or professional associations to broaden your network. Relationships can lead to referrals or insider advice.
5. Recruitment
Consulting firms have a rigorous, multi-round hiring process. Start by submitting a tailored resume highlighting your academic and leadership achievements. If selected, you’ll face multiple interview rounds that include case interviews—business scenarios to analyze—and behavioral questions about your teamwork and leadership experiences. Practice cases to build confidence and prepare examples for fit questions. Be mindful of timelines—many firms have early application deadlines. Thorough preparation and timely applications maximize your chances.
6. Certifications
Certifications are not required, but they can strengthen your profile. The Certified Management Consultant (CMC) designation is a globally recognized credential for consultants. Other credentials (such as the PMP certification) can demonstrate expertise, but treat certifications as supplements—practical experience carries more weight.
7. Continuous Learning
The business landscape changes rapidly, and consultants commit to lifelong learning. Stay current on industry trends, new technologies, and management best practices. Read business news and industry reports, and consider taking online courses or attending workshops. This mindset keeps you adaptable and able to offer up-to-date insights to clients.
8. Career Progression
Consulting firms have a defined career ladder. Entry-level roles (often called Analysts or Associates) involve data analysis and research; mid-level roles like Manager lead project teams; senior roles like Partner focus on client relationships and strategy. At each step, responsibilities grow and work shifts from detailed analysis to high-level guidance.
9. Personal Development
Invest in your personal growth. Consulting is demanding, so expect long hours and high-pressure projects. It’s important to be reslient. Also, refine soft skills like communication and teamwork, as consultants work closely with colleagues and clients, making interpersonal abilities critical. Seek feedback and continuously improve. A consultant who can manage stress will thrive.
A good management consultant should have analytical thinking for complex problems, strategic vision for long-term planning, creative problem-solving skills, adaptability to new situations, excellent communication for clear ideas, and strong interpersonal skills to build client relationships.
You should also possess honesty to maintain trust, integrity to uphold ethical standards, and a strong work ethic to handle the demanding nature of consultancy work.