The three leading strategy consultancies, McKinsey, BCG and Boston continue to generate big revenues despite the bad global economy. Many companies would hire consultants, as they need to get someone clever to solve their problems. Consultants cannot just do a slideshow and get paid a huge amount of money; they are nowadays made to find practical solutions to improve the company. The business is all about repeat customers, as they need to earn the trust by showing good results before getting companies to come back for more.
Personally, my father is a management consultant and I have come to have a fair understanding of the business through discussions with my dad and general observations. A consultant is just like a doctor, except it’s for companies with internal problems. Consultants nowadays need to have wider range of expertise and therefore McKinsey and BCG are hiring experienced scientists and doctors. To be a successful consultant, you need to have exceptional problem solving and communication skills, and also a good understanding of organizational behaviour and human resources. It is a highly rewarding occupation not just because of the pay, but because customers highly value what consultants recommend which is both exciting and empowering for consultants.
Bibliography:
“To the Brainy, the Spoils.” The Economist. N.p., 11 May 2013. Web. 17 Nov. 2013. <http://www.economist.com/news/business/21577376-world-grows-more-confusing-demand-clever-consultants-booming-brainy>.
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