Can I become a management consultant 1

Management consultant - important details about studies, training, salary and application

Are your talents in communication skills and persuasiveness? Do you have a degree in law, psychology or as an engineer? Then management consulting could be an exciting job for you.

The job as a management consultant is booming. In the last 15 years alone, there has been more than a doubling of employment relationships in this occupational group, with the exception of self-employed management consultants. But where does the job actually come from and what makes it so special?

As a rule, it is mainly large and medium-sized companies that afford management consultancy. Even the federal and state governments as well as the municipalities fall back on the hoped-for know-how of the management consultants.

They are almost always external service providers who are freelance or employed in a management consultancy. The customer purchases advice and solutions to a specific problem from management consultancy.

He hopes that the management consultant will solve the problem with his expertise and an unbiased view. As a rule, management consultants have no authority here, but only the function of advising the client.

The advice can be given on all areas and problems, mostly management consultancies have specialized in certain subject areas, which is why there are different consultations for different areas. This often involves personnel advice, business advice or legal advice, linked to the evaluation and the solution concept. But also with the support or implementation of the project until the problem is solved.

Salary as a management consultant

No concrete statement can be made about the earnings within management consulting, after all, most management consultants are self-employed or freelance, which is why there are no official figures on this.

However, it can be assumed that, depending on the customer and the scope of advice, specific fees between EUR 40,000 and EUR 100,000 gross per year are possible. For beginners, the salary should start much lower, but those who already have experience in management consulting will be well paid.

Above all, technical knowledge and the ability to convince are decisive here. If you sell well, you get the consulting assignment, whereby cold calling is just as crucial here as retaining a customer for follow-up orders.

Studies, training and further education to become a management consultant

Management consultancy is not a classic apprenticeship or degree that one could complete. Almost all business consultants, however, have a degree, mostly in the fields of economics, psychology, law or engineering.

Anyone who can demonstrate such a degree usually knows how to convince and knows tactics for finding solutions. Because customers have a problem and want a solution for it. In the case of public institutions, this is often the desire to save or reduce costs. However, it can also be the case that staff should not be cut, but trained, for example through management seminars.

The management consultancy industry has been booming for years. Companies and institutions are getting more and more often external help with different problems, which is well paid.

As a rule, management consultants do not work alone, but in a team, either supported by assistants or together with colleagues. Here, concrete solutions are sought and discussed, usually on the basis of concrete data or empirical values.

Requirements and skills in management consulting

Business consultants must first and foremost be able to convince. This requires good communication skills and persuasiveness. You sell solutions and have to convey the necessary skills.

Technical knowledge is the basic characteristic on which the entire consulting foundation rests. Those who do not have outstanding technical knowledge will find it difficult to give competent advice.

In this context, good analytical thinking is necessary so that specific problems can be identified in the detailed analysis in order to then derive the necessary solutions.

Application as a management consultant

Management consultants have to sell themselves well when applying, the self-portrayal as a convincing personality, the qualification and the specialist knowledge have the greatest importance in the application.

The applicant should be particularly convincing with the application letter and be able to precisely explain the motivation and qualifications for the job offer. The curriculum vitae in tabular form only plays a second role and serves to round off the applicant's profile.

Personal contact between the applicant and the employer can be a significant advantage. Anyone who makes contact by phone before applying or hands over the application in person can score points.

It is not uncommon for management consultancies to recruit their employees from an internship.

More tips on how to apply!

Trends and developments for management consulting

As already mentioned, business with consultants is booming, many companies and authorities no longer rely on in-house expertise, but prefer external service providers. But often the know-how is not even available in the company, which is why the choice does not even arise.

Management consultancy is not always viewed positively, accusations such as wasting money or “We said that right away” are occurring more and more often. Business consulting is usually the easier way for companies, but it is very expensive.

The peak among management consultants does not seem to have been reached despite, but perhaps also because of, the economic crisis since 2008, which is illustrated by the current employment figures for employed consultants. Self-employed or freelancers are not included in the following statistics.

Source: Employment and unemployment statistics from the Federal Employment Agency (IAB Research Group on Vocational Labor Markets).