Management consulting is a high-growth career path focused on helping businesses improve their performance. Management consultants work with companies to identify and resolve problems, refine strategies, and provide support for key decisions. For most people, the journey to becoming a management consultant begins with simple questions: What does this role involve? What skills are required? And how much can a consultant earn in India?
In this blog, we will explore the role of management consultants and the necessary steps you need to take to learn how to become a management consultant and start a career in this demanding field.
Table of Contents:
What is Management Consulting?
Management consulting is a practice of helping organizations enhance their performance and achieve their objectives. Companies engage external management consulting firms to get clear insights, address complex problems, formulate new strategies, and guide them through periods of significant growth. It is a highly popular field worldwide, attracting students and professionals eager to develop advanced skills in areas such as problem-solving, leadership, and strategy development.
What Does a Management Consultant Do?
Management consultants are external, independent experts who identify challenges and design data-backed strategies, guiding organizations through significant changes. They bring fresh viewpoints and expertise that the internal team lacks.
Responsibilities of a Management Consultant
Let’s explore the key responsibilities of a management consultant:
1. Data Collection & Analysis: Collecting relevant information by connecting with employees across all levels, analyzing market trends, and reviewing financial statements.
2. Understand the Problem: Finding the main reason behind the problems, not just the symptoms, and developing ideas for possible solutions.
3. Strategy Development: Designing customized action plans for overall performance improvement, lowering expenses, entering new markets, or shifting to digital.
4. Implementing Plans: Collaborating with client teams to turn plans into action, which involves training employees, overseeing new processes, and tracking project timelines.
5. Stakeholder Management: Consultants connect with C-suite executives to communicate complex findings and recommendations clearly and manage several stakeholder expectations and any resistance to change.
A Day in the Life of a Management Consultant
A typical day for a management consultant includes a mix of quick team meetings, focused time on data analysis using Excel, creating clear narrative presentations in PowerPoint, conducting client interviews, and traveling to client sites. It is a versatile role that requires flexibility and the ability to work long hours to meet deadlines.
Master General Management and Lead with Confidence!
earn essential leadership and strategic skills to drive success and make an impact in any organization.
How to Become a Management Consultant
Pursuing a Management Consultant role can be a great career path if you enjoy solving problems, analyzing businesses, and helping companies succeed.
Step 1: Obtain a Bachelor’s Degree
Your first step is to earn a bachelor’s degree. While any major can work, degrees in fields like economics, business, finance, or management are generally preferred. They teach you the foundational knowledge and analytical skills you will need to understand how businesses operate.
Step 2: Pursue a Master’s Degree (Optional but Valuable)
You do not always need a master’s degree, but it can be helpful. Many successful consulting professionals get a Master of Business Administration (MBA) from top universities to stand out and gain higher-level job opportunities.
Step 3: Gain Relevant Work Experience & Internships
Gaining practical experience is essential. Look for internships or entry-level jobs that teach you how companies run. Roles in data analysis, project management, or corporate strategy are great starting points. Consulting firms generally want to see that you have solved real-world problems before.
Step 4: Earn Relevant Certifications
Certifications set you apart from other applicants. While there are many management consulting courses and certifications, the most respected one is the Certified Management Consultant (CMC). Other useful options include certifications in project management (PMP) or data analytics (like Power BI or Tableau).
Step 5: Network Extensively and Master the Case Interview
Networking is one of the most important aspects of this step, as it helps you meet people in the industry and get interview opportunities. Attend seminars, workshops, and job fairs to meet consultants.
The case interview is the most crucial part of the hiring process. You must solve an actual business problem during the interview. Practice this skill well to pass the interview and get the job offer.
Step 6: Apply Strategically to Consulting Firms
You need to research the different types of consulting firms before applying.
- Top firms (McKinsey, BCG, and Bain) are very selective but offer high pay.
- Big Four firms (PwC, EY, KPMG, and Deloitte) are also great options with diverse projects.
- Boutique firms typically specialize in one area, like IT or finance.
Lastly, make sure your resume is short (one page), crisp, and highlights your achievements clearly.
Skills Required to Become a Management Consultant
To be effective in management consulting, you will need a combination of technical skills and soft skills.
Technical Skills
- Business Analysis: The capability to assess financial data, market trends, and company operational activities.
- Problem-Solving: Providing functional responses to serious business issues.
- Project Management: Effectively managing time, resources, and project teams.
- Research Skills: Collecting and evaluating information to create evidence-based recommendations.
- Technical Tools: Expert with tools such as Excel, data visualization tools, and presentation tools.
Soft Skills
- Communication: Effectively articulating and translating ideas to clients and teams.
- Critical Thinking: Assessing problems from different perspectives to determine the optimal action plan.
- Adaptability: Maintaining flexibility in quickly evolving businesses.
- Teamwork: Collaborating effectively with diverse people across different departments.
- Leadership: Guiding clients and colleagues to enhance decision-making.
Management consultants depend on a core set of tools and technologies to analyze data, handle projects, and communicate effectively with clients:
1. Data Analysis & Visualization Software: Excel, Power BI, Tableau
This software helps consultants analyze numbers, financial data, and market trends. Excel handles calculations and modeling, while Power BI and Tableau are used to create visuals, charts, and dashboards that make data easy to present and understand.
2. Project Management Software: Trello, Asana, Jira
Consultants often manage multiple projects at the same time. Trello, Asana, Jira, and other project management software help consultants plan work, track progress, and manage deadlines to ensure smooth teamwork and project delivery.
3. Communication & Collaboration Tools: Zoom, Microsoft Teams, Slack
One of the most significant management consulting skills is clear and timely communication. These tools enable consultants to connect with clients, update them, conduct virtual meetings, and collaborate easily across different locations and time zones.
4. Presentation Software: Microsoft PowerPoint, Google Slides
Most consulting projects usually end with a presentation. Consultants must be expert users of Microsoft PowerPoint to clearly convey their findings and recommendations to clients’ leadership teams.
5. Research Resources: Market Databases, Industry Reports, Online Surveys
Consultants require facts and proper data before giving advice. They utilize niche market databases (such as Bloomberg or Morningstar), industry reports, and online survey tools to collect information about markets, industries, and customer behavior.
Management Consultant Career Path and Levels
The career of a management consultant offers a clear growth path. Advancement is typically based on performance, proven skills, and experience. The table below shows the levels, job roles, and core responsibilities you can expect in the field.
| Career Level |
Job Roles |
Key Responsibilities |
Years of Experience |
| Entry-Level |
Junior Consultant, Business Analyst |
Collecting data, preparing reports, assisting senior consultants, and supporting research. |
0-2 years |
| Mid-Level |
Associate Consultant, Consultant |
Handling small projects, analyzing problems, working directly with clients, and presenting solutions. |
2-5 years |
| Senior-Level |
Manager, Senior Consultant |
Leading project teams, managing client relationships, creating strategies, and ensuring project delivery. |
5-8 years |
| Expert/Lead |
Principal Consultant, Engagement Manager |
Designing business strategies, guiding junior consultants, and managing multiple projects. |
8-12 years |
| Leadership |
Partner, Director, Managing Partner |
Driving business growth, managing high-level clients, setting firm strategy, and building reputation. |
12+ years |
Get 100% Hike!
Master Most in Demand Skills Now!
Management Consultant Salary in India
A management consultant’s earning potential is high, but the salary varies based on experience, company, location, and specific role. The figures below are typical ranges but do not include performance bonuses, which can add significant amounts at senior levels.
Here’s an overview of the typical salary ranges:
| Experience Level | Typical Salary Range |
| Entry-Level (2-5 years) | ₹7 – ₹39 lakhs per year |
| Mid-Level (5-10 years) | ₹9.8 – ₹49 lakhs per year |
| Senior-Level (10+ years) | ₹14.3 – ₹53 lakhs per year |
These figures are based on data from AmbitionBox, showing the compensation trends for management consultants in India.
How Intellipaat’s General Management Program Supports Consulting Careers
While a strong educational background and relevant experience are important, structured learning through a targeted program can significantly boost your career growth. The Executive Post-Graduate Certification in General Management is specifically designed to help you become a skilled management professional.
Here’s how the program prepares you for the demands of management consulting:
1. Build Strong Credentials: Earn an Executive Post-Graduate Certification from IIM Ranchi and get highly valued Executive Alumni status. This qualification strengthens your resume when applying to top-tier firms in India.
2. Master Core Consulting Skills: The curriculum covers finance, marketing, operations, organizational behavior, and strategy. These are the foundational business areas you will analyze daily as a consultant.
3. Learn from Experts: Attend live online sessions led by IIM Ranchi faculty and top industry professionals, gaining insights directly from those with real-world experience.
4. Apply Learnings to Real-World Cases: The program focuses on hands-on work through real projects and cases, aligned with the analysis you will do in case interviews and at work.
5. Network and Engage: Participate in a 3-day campus immersion program at IIM Ranchi for hands-on learning and networking opportunities to meet peers and potential mentors in the field.
Conclusion
Management consulting is an exciting career that focuses on helping companies solve complex problems and achieve significant growth. It demands a strong mix of technical skills, communication, and practical experience. The management consultant career path offers well-defined growth opportunities, moving from entry-level analyst roles to senior leadership roles. With growing demand for expert strategic insights, it remains a rewarding, challenging, and well-paid profession.
What is Management Consulting?- FAQs
Q1. Is management consulting hard to get into?
Yes, getting into management consulting is very challenging. The field is highly competitive, especially for top firms like McKinsey, BCG, and Bain, which often have acceptance rates generally between 1% and 3% of applicants. Success requires strong academic records, relevant skills, extensive networking, and intense preparation for the case interview process.
Q2. Is an MBA required to become a management consultant in India?
No, an MBA is not mandatory, but it is highly valued. Many entry-level roles, like Business Analyst or Junior Consultant, are filled by high-achieving undergraduates. An MBA from a top-tier business school like an IIM is often the most common and direct path to a post-MBA, mid-level role, such as Associate or Consultant, and offers significant career growth.
Q3. What types of specializations are available within management consulting?
Consultants can specialize in numerous areas beyond general strategy. Common specializations include operations consulting, IT and digital transformation, human resources (HR), financial consulting, and risk and compliance. Specializing allows consultants to build deep industry expertise.
Q 4. How can I become a management consultant?
You can take management consulting courses, gain work experience, and build skills in problem-solving and leadership.
Q5. Is management consulting a good career?
Yes, it is a demanding but highly rewarding career path. It offers significant learning opportunities, rapid career growth, high earning potential, and excellent exit opportunities into various industries.