For a business to grow, knowing how to maximize its growth and improve business performance is important; for that, it needs a Consulting Manager or Management Consultant. From Mordor Intelligence research findings, the Management Consulting market is expected to grow at a Compound Annual Growth Rate (CAGR) of 5.5% during 2023-2028. This Career Guide covers all the required skills, certifications, qualifications, etc., and discusses how to become a Consultant in detail.
Features
Table of Contents
2. What is a Consulting Manager?
3. What does a Consultant do?
4. Prerequisites to Become a Business Consultant
5. What are the Essential Skills for Consulting Managers
6. Soft Skills to Become a Consultant
14. Summary
17. Technical Skills to Become a Consultant
18. Path to Become a Consultant
21. Explore Business Management Subcategory
For a business to grow, knowing how to maximize its growth and improve business performance is important; for that, it needs a Consulting Manager or Management Consultant. From Mordor Intelligence research findings, the Management Consulting market is expected to grow at a Compound Annual Growth Rate (CAGR) of 5.5% during 2023-2028. This Career Guide covers all the required skills, certifications, qualifications, etc., and discusses how to become a Consultant in detail.
What is a Consulting Manager?
Consulting Managers use their business skills to provide expertise and advice to a business or organization and develop the skills they might need to improve. They lead a team of Consultants and other staff managers to supervise the support and services provided to clients. Their tasks include establishing protocols and strategies, developing strategic plans, etc.
They must analyze organizational operations and develop strategies to meet high-priority objectives like increasing revenue and improving efficiency. They are also responsible for recruiting and training staff members.
Apart from having knowledge of generic Management essentials, Consulting Managers must have various skills depending on the department, industry, and field they work in. The common skills essential for most Consulting Managers include financial accounting, project management, communication skills, leadership quality, adaptability, etc.
Once you have worked as a Consulting Manager for 3 or more years, you can get promoted to the Project Leader/Senior Consultant and Engagement Manager position. Professionals work in this position for up to 10 years; after that, they get promoted to the highest position, i.e., Partner or Principal.
What does a Consultant do?
A Consulting Manager has various crucial responsibilities, as mentioned below:
- Managing direct reports and project teams and mentoring the junior members of the team
- Effectively managing the claim expenses and loss of costs on major claims
- Assisting clients in transforming and optimizing their sales, services, CRM, marketing, and analytical strategies
- Analyzing company or organization’s data for identifying trends and patterns, issues, and opportunities for improvement
- Creating actionable plans for protecting the business and scheduling periodic security audits
- Working with other teams, like Operations, IT, etc., to drive successful daily operations and solutions deployment
Advising senior members or leadership and the board of directors on cybersecurity risk and advocating for managing or reducing risk factors of projects.
Prerequisites to Become a Business Consultant
To become a Business Consulting Manager, you must fulfill the following prerequisites:
1
Educational Qualifications
- A bachelor’s degree in business, computer science, cybersecurity, or a related field.
- A master’s degree in business, management, finance, or a related field.
2
Certifications
- Talent Optimization Consultant Certification
- Certified Management Consultant
- Certified Risk Manager
- Certified Information Systems Security Professional <...
3
Work Experience
- 0-5 years of experience in the Management Consulting sector
What are the Essential Skills for Consulting Managers
- Strategy Consulting
Every business wants to grow and needs a good strategy for its growth. Problems might come for a business, but with the excellent strategy consulting skills of a consulting manager, the business can rise above those problems and find suitable solutions.
- Financial Accounting
Consulting Managers advise on budgets and accounts for businesses; they must have excellent Financial Accounting skills. It helps them create budgets, analyze product performance, understand public perception, etc. A course on Accounting fundamentals will help you build Financial Accounting skills.
- Financial Statements
Planning is an important part of a Consulting Manager’s work. They must track budgets, performances, and other important metrics to form decisions, motivate teams, and maintain a big-picture mindset. This is possible if the Consulting Managers understand financial statements well.
- Project Management
Consulting Managers work with and handle a team of other Consultants. It is important to ensure that the teams work efficiently and meet deadlines. With project management, managers can divide a project into assigned tasks, milestones, and deadlines.
- Communication Skills
A Consulting Manager must convey their ideas with ease and efficiency. You must pitch your ideas to the company in an impactful manner, and for that, you must have excellent communication skills. This skill will help you convey ideas to your teammates, increasing your efficiency.
- Time Management
Completing all tasks within a given deadline is a top priority for any business. Consulting Managers must know how to manage their time and use it effectively to complete their tasks quickly. There can be multiple tasks to handle, and with proper time management, it is possible.
Path to Become a Consultant
To become a Consulting Manager, you must require skills and educational qualifications. Certification courses can be helpful when you need to learn or polish the necessary skills. Careervira offers top courses curated by their best providers to help you become a Consulting Manager. Here is the top course by Simpliv that will aid you in this process:
- 4 Hours Live Virtual Training on Quickbooks Desktop Beginner by Simpliv: This course by Simpliv teaches you how to use QuickBooks Desktop. It runs through all the settings, centers, lists, forms, and reports so you can set up your file to run smoothly for your business. This is a 4-hour course with 5-minute breaks between each hour and is suitable for a beginner to an intermediate. This course teaches basic business concepts like Sales, Paying bills, Sales Tax, Inventory, etc.
Industry Outlook
There has been a boom in the Management sector, which is growing quickly. There is also an increase in demand for Consulting Managers, which indicates more job opportunities.
Per LinkedIn, the current worth of the Management Consultancy market is $250 billion, and the business is still growing, with the USA and the UK serving as major hubs. More than 70,000 companies are operating globally and offer various services in general and specialized fields, like Information Technology (IT), Human Resources (HR), operations, etc.
The UK has the fastest growth, with an economy 4 times larger than that in 2015. It increased by 8.2% in 2016; the same growth pattern is expected in 2023. The US Management Consultancy sector has grown 7.7% over the same period. The Management Consultancy market is expanding globally at a growth rate of 4.1% over the previous year. Quoting IBISWorld report, Management Consulting has grown 1.1% per year on average in the last 5 years, and this year the industry is expected to grow by 0.1% in the USA.
Top Indian Companies
Some of the top Indian companies hiring Consulting Managers are:
- Accenture
- Deloitte
- KPMG
- IBM
- Cognizant Technology Solutions
Top Foreign Companies
Some of the top Foreign companies hiring Consulting Managers are:
- Wipro
- Tata Consultancy Services
- Tech Mahindra
- Tata Motors
- Maruti Suzuki
Soft Skills to Become a Consultant
The soft skills required for becoming a Consulting Manager are mentioned below:
- Communication Skills
- Leadership Skills
- Adaptability
- Problem-Solving Skills
- Time Management
- Interpersonal Skills
Your Step-by-Step Guide on How to Become a Consultant Soft Skills
How to Acquire Intermediate Level Your Step-by-Step Guide on How to Become a Consultant Skills
The technical skills required for becoming a Consulting Manager are mentioned below:
- Strategy Consulting
- Financial Accounting
- Project Management
- Financial Statements
- Tax Calculation
Summary
The Consulting Manager Career Guide is the ideal solution for everyone interested in a career in this sector and is apt for entry-level and mid-level professionals. This Guide covered the top Indian and Global companies where you can work as a Consulting Manager. This step-by-step guide will help you achieve your career goals with less hassle and more precision. The relevant skills, roles, and responsibilities you will encounter as a Consulting Manager are mentioned here. This will help you better understand this role, and you can adjust your skills accordingly.
To become a Consulting Manager, you can also pursue certifications like Talent Optimization Consultant Certification, Certified Management Consultant, Certified Risk Manager, and Certified Information Systems Security Professional and boost your chances of getting hired. You can use this Business Manager Career Guide to prepare yourself for the challenges you will encounter after entering this field.
To know more on how to learn the skill required to be a Business Management expert
Features
Table of Contents
2. What is a Consulting Manager?
3. What does a Consultant do?
4. Prerequisites to Become a Business Consultant
5. What are the Essential Skills for Consulting Managers
6. Soft Skills to Become a Consultant
14. Summary
17. Technical Skills to Become a Consultant
18. Path to Become a Consultant
21. Explore Business Management Subcategory
