Management Consulting – One of the most rewarding career option
After experiencing the second wave of Covid-19, it has been proven that problem-solvers and consultants are more required than qualified and certified professionals.
As India is already a developing country, management consultants will be in demand for businesses like IT, finance, and marketing. Consulting is one of the lucrative career options where you gain experience by working in different sectors across the globe.
What best one gets after becoming a management consultant in India? Personal development is the biggest advantage of choosing management consulting as a career option because one gets to work with numerous multinational organisations.
Which Are The Best UG Courses For Pursuing Management Consulting?
Management consulting is open for students of all streams like Commerce, Science, and Arts. As you’re interested in pursuing management consulting, you have the freedom of selecting undergraduate courses suitable for management courses like Bachelor of Business Administration (BBA), Integrated MBA, and Bachelor of Management Studies (BMS) or any other stream.
International UG courses like Bachelor of Business Management either single or double specialisation, for example with Economics, Finance, Business Studies or similar are best options to be considered.
One can opt for one of these courses to become eligible for the PG qualifications like MBA and PGDM. By completing the undergraduate courses, you can hold numerous managerial jobs offered to junior-level management professionals.
While applying for UG courses, it is better to choose the specialisation depending on future management goals. For instance : if management consulting is future ambition then selecting Organisational Management, International Business, and Human Resource is wiser.As all these UG courses and their last year specialisations provide short-term management-oriented courses that saves time and money in pursuing a Post Graduate course. The advantage is one may like to save an extra year by taking admission in one year PG diploma courses, and one is all set for pursuing management consulting.
Eligibility Criteria Of The UG Courses
Admission for both UG and PG qualifications is made on either purely on merit basis or an entrance examination subjected to minimum eligibility criteria. Colleges declare the merit cutoff score; hence,one needs to crack the cutoff percentage. To get placed in IIM, the cutoff score is highly competitive, and the seats are limited.
For UG courses, 10+2 scores are considered where the minimum score requirement is 50%. After being selected on the merit list, aspiring student needs to sit for the management entrance exam, General Discussion (GD), and Personal Interview (PI).
PG Qualifications Required For Becoming Management Consultant
After completing undergraduate course (UG), that is bachelor’s, which is mandatory in the management consulting sector, it is preferred to consider the best-rated sub-specialisations like human resource, finance, marketing, etc., for succeeding in the management consulting sector.
As the student aims to become a management consultant, he/she needs to pick the sector of his/her choice. For example – Sales & Marketing , HR, etc. There are some short management crash courses available in the online mode for acquiring more skills and knowledge.
Nevertheless, there is no hard and fast rule of acquiring multiple courses to become a management consultant in India. If you meet the basic academic requirements, you can still open the gates of the consulting sector.
However, some companies have a basic set of requirements like a master’s level degree from a first-rate management institute to hire the candidates. If you want to get placed in your dream company, you need to acquire degrees, knowledge, and expertise.
What Is The Salary Of Management Consultants At Entry Level?
Management consulting is one of the highest-paid career options in India and other countries. Every company has a group of management consultants that are considered expert-level advisors. However, the salary at the entry-level of new management consultants depends on the skill set, experience, qualification, company size, and location.
Entry-level management consultants have nill to one year of work experience where the minimum salary would be above 6 00,000 INR pa. The location plays a very important factor in determining the salary scale of the management consultants. If you’re placed in the major metropolitan cities, you’re getting instant salary hikes and better salary packages.
On the contrary, having a unique set of skills working in different domains like Finance and Healthcare will undoubtedly land you up at your dream company with a highly rewarding salary package and other perks.
In simpler words, pursuing management consulting makes you the problem-solver of any company where you’re focusing on data analysis, data collection, and research. As a result, you’re working with highly experienced working professionals for developing solutions and completing projects.
So if you feel this post was helpful for your management career, share your appreciation in the comment section!