Management consulting is a demanding job, but it’s also rewarding to help businesses and teams reach their goals. Consider these pros and cons before embarking on this career path:
Pros:
- Learning opportunities. Consulting teams tackle diverse projects, from human resources and change management to IT consulting and beyond. They can collaborate with and learn from some of the best and brightest in multiple industries.
- Varied tasks and workspaces. Throughout a management consultant’s career, they’ll work with many different types of organizations — from small startups to some of the biggest multinational corporations in the world.
- Travel. Because of the nature of the position, many management consultants can work from anywhere in the world, and they often travel to meet up with business leaders. They’re constantly meeting new people in new environments.
- Prestige and opportunities. Management consultants have access to many new opportunities thanks to their diverse work experience and network of contacts. Often, major firms court management consulting alums to fill executive-level roles. These new positions are often lucrative, with many chances for advancement.
- High salary and job growth. Management consultants earn a high salary, and it’s an in-demand job. According to the Bureau of Labor Statistics, the average salary for management consultants is $93,000. The same report shows that the industry is growing by 11% between 2021 and 2031, which is much faster than average.