Management Consultancy

12/11/2014 Career

Proper management of an organisation leads to overall organizational as
well as individual efficiency which in turn reduces the overhead costs
and increases profitability of that organisation. Thus, management
consultancy is growing as a lucrative and promising career option these
days in almost all sectors of the economy. A management consultant works
beyond their routine work and is primarily concerned with the strategy,
structure, management and operations of an organisation providing
objective advice, expertise and specialist skills with the aim of
creating value, maximizing growth or improving the business performance
of their clients.

Course Details
Management consultants
provide a wide variety of services to their clients related to the
areas of finance, sales and marketing, personnel management, IT
management, operation and supply chain management. There is not a single
course to deal with such a wide spectrum of responsibility. Therefore
to be a management consultant first step is to obtain a MBA degree from
any institute in India. For further career growth one can opt for any
specialization in the field of management. Only a degree may not do the
magic. Along with this he/she must have 5-7 years of experience in his
specialized management field.

Career Prospects
To take
care of the fierce global competition, each and every organisation
requires some kind of management consultancy, be it in public or private
sector. Banks, financial institutions, insurance and investment
companies, export-import houses etc all employ management consultants to
solve various problems related to finance, marketing, sales and human
resources. Manufacturing industries, IT and telecom companies, shipping,
logistics and transport companies are also need the expertise services
of management consultants. Publishing, media and entertainment
industries are also a good option available to management consultants.



MNCs, supply chains, corporate houses and even developmental agencies
and NGOs also offer suitable opportunities to these professionals.
Moreover management consultants also can work with consultancy firms
dealing specialized problems like industrial management, advertising and
PR, sales and marketing, product development and promotion, purchasing
and retails etc. Other than working with organizations, management
consultants can work as an independent consultant dealing with various
aspects of the organisation.

Top Colleges Offering UG/PG/Other Courses
There
is no course as per say in management consultancy. This career option
totally depends upon the quality of experience of the concerned person
along with his ability to solve complex problem with minimum hassles.
However a MBA professional is highly preferable to make a career in
management consultancy. Therefore all institutes offering MBA programmes
in India make a foundation for a career in management consultancy.

Remuneration
Management
Consultancy is such a career option, where remunerations are highly
variable which totally depend upon individual skill, problem solving
ability, customer satisfaction along with qualification, nature and
location of the job. However, generally Management consultants having
1-4 years of experience can earn up to Rs 5 lakhs per annum. More than 5
years of experience may fetch him Rs 8-10 lakhs per annum. Besides they
also get performance based bonuses in addition to the overall pay
package.

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