what is a consultant?
After gaining years of experience from practising your career, you can become a consultant in your area of expertise. Consultants turn their knowledge into a resource, and companies are willing to pay for the advice and valuable insights.
As a consultant, you research your employers' target market and company to identify problems and opportunities for expansion. You also recommend solutions for business-related issues and help facilitate change in an organisation. Some clients hire consultants to revitalise or downsize an organisation. Sometimes, you have to reorganise a failing business or provide counsel during start-up by conducting a feasibility study and identifying opportunities.
The scope of work in consultancy requires passion and interest in the industry sector to provide the best strategies. Besides, organisations look for consultants when they need an external perspective on business issues. That means they need someone who can breathe a new life into the venture and turn the tides. A successful consultant needs more than industry-specific knowledge. You require skills in business analysis, troubleshooting and strategising.
what do consultants do?
Consultants can work for any industry as in-house consultants or consulting firms. In-house consultants provide in-depth analysis of the business since they study all aspects of business and recommend opportunities for improvement. A consulting firm often works with various companies and provides expert advice on multiple industry issues.
Would working as a consultant suit your analytical skills? Then read on to find out what competencies and qualifications you need to thrive in a consultant role.
average salary of a consultant
According to ONS, the average salary for consultants is £38,956 per year. Entry-level positions in consultancy attract a salary of £32,767 per year, while experienced consultants have a salary of £52,158 annually. Aside from the base salary, consultants enjoy various benefits, including medical insurance, pension schemes and paid vacations. Some companies motivate consultants with bonuses for successful projects.
what factors affect a consultant's salary?
Consultants' earnings depend on their area of expertise. For instance, consultants in engineering or construction are likely to earn more than health consultants. Financial sectors also pay attractive salaries to consultants. The company you work for also determines your earning potential. In-house consultants make more or less depending on the company size and financial resources.
Working for consulting firms affects your pay structure; most consultancy pay is based on the clients and your experience level. Consultants with years of experience earn more since they bring transferrable skills and influence real change in a company using tried methods. Sometimes, you have to relocate to larger cities to increase your earnings. Working in big cities boosts your salary compared to small towns.
types of consultant
The types of consultants include:
- business consultant: as a business consultant, you assist companies in solving problems by offering expert advice on ways to deal with business issues. You help companies boost performance by improving their processes, developing an HR strategy and providing operational support.
- education consultant: as an education consultant, you help academic institutions deal with various issues in early childhood, secondary and higher education. You also assist organisations with education objectives like publishers, government agencies and non-profit organisations.
- healthcare consultant: consultants in healthcare institutions aim to improve efficiencies and minimise expenses. You also recommend new procedures and ways to increase revenue and manage hospital risks.
- it consultant: as an IT consultant, you analyse computer system threats and the functionality of programmes to improve efficiency. You also recommend ways for utilising information technology to improve business performance.
- management consultant: as a management consultant, you provide advice and guidance to top-level managers in an organisation. You assist in developing strategies and business goals and help them make the right decisions.
working as a consultant
Curious to find out what a consultant does daily? Read on for insights on your career prospects and daily duties.
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consultant job description
Specific roles depend on the type of consultancy you work for, but most consultants perform the following duties:
- research: unlike other professions that conduct continuous research, consultants work from a hypothesis. You formulate a hypothesis and research to prove or disprove an argument. When looking for information, you read reports, financial statements and interview various stakeholders. The research aims to understand your client's company and the industry.
- studying the market: if you are consulting for a start-up, you conduct a feasibility study to learn the market. You need to provide critical insights into market segmentation and demographics before recommending potential niches for the start-up to explore. For large companies, your job is to identify expansion opportunities.
- grouping and analysis data: as a consultant, your findings and recommendations should be backed with relevant figures. Your research will yield data that needs consolidation and analysis before drawing appropriate conclusions. The analysis stage helps you discover the current state of the market and how your employer is doing compared to competitors. You can recommend strategies to solidify their position in the market and increase revenue from the information.
- presenting findings: as a consultant, you need to make presentations to stakeholders after research to discuss the recommendations. When your client decides on the strategies they want to apply, you create implementation steps and monitor the outcomes.
- business development: as a consultant, your job entails drumming up new businesses and finding opportunities for business expansion. You help managers create pitching materials and meet with potential clients.
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work environment
As a consultant, you work in various industries and with diverse clients. You can work in technology companies, finance, accounting and manufacturing industries. Most consultants work in office environments regardless of the industry and often assign the research duties to other employees. When you are a consultant, you often travel to meet clients or check out offsite facilities of the business. Sometimes, you have to attend conferences or travel overseas if you work for a multinational company.
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who are your colleagues?
Depending on your employer, your colleagues might include analysts and junior analysts. Both gather and interpret data in order to create and analyse industry-relevant models. As a consultant, your skills are more broad-based, but analysts' findings will often inform your recommendations. Depending on the field, you might also be working in close proximity to accountants, healthcare professionals or teachers, as well as other specialists that could include, but not be limited to, engineers, fulfilment managers, professional advisors and business development professionals.
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work schedule
Consultancy is a flexible career that provides full-time and part-time opportunities or short-term contracts. Consultants often work long hours or over 40 hours a week on a full-time basis. While you will work the standard office hours, sometimes you have to work evenings and weekends when attending important events. Freelancing opportunities are also available in various fields. Most consulting firms hire short-term contracts or part-time consultants, depending on the client's needs.
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job outlook
career as a consultant provides various opportunities for building your career and joining a managerial position. Most consultants begin as analysts or junior consultants. After a few years of experience and tangible accomplishments, you become a senior consultant. You can increase your qualifications and expertise to become a director or chief executive officer. Consultancy also provides self-employment opportunities, but you should start by working in a company to develop a track record and improve your skills.
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advantages of finding a consultant job through randstad
Finding your consultant job through Randstad provides important advantages such as:
- a wide variety of training and development opportunities
- an experienced contact person to provide help if needed
- a range of opportunities in your area
- get paid weekly or monthly, depending on the job
- temporary and permanent contracts
Want a permanent contract? A temporary job as a consultant is often a stepping stone to an attractive permanent job. Every year, thousands of people earn a permanent contract with great employers thanks to a temporary job found through Randstad. What's more, many companies recruit their permanent employees through Randstad too!
education and skills
Successful consultants have impressive academic qualifications. Some of the education requirements include:
- degree: you can start your career as a consultant with an undergraduate programme in any field, including business, finance, science, IT or engineering. If you plan to be a consultant in healthcare, you need a degree in science or a related field. Without knowledge of the industry you work for, it is challenging to get a job.
- postgraduate studies: while a master's or doctoral degree isn't compulsory, it improves your job prospects. Some companies prefer consultants with MBA or doctoral degrees.
- work experience: consultancy is a competitive career, and commercial experience gives you an advantage. You can do internships or join graduate training programmes to improve your skills. You also need to register for membership with the Institute of Consulting (CMI).
skills and competencies
Apart from academic qualifications, you need the following skills and competencies:
- creative thinking: solving business problems requires someone who thinks outside the box and comes up with unique solutions. As a consultant, creative thinking helps you brainstorm ideas and solve various issues in a company.
- problem-solving skills: sometimes consultants are responsible for resolving conflict among the management and employees or saving a company on the brink of bankruptcy. Problem-solving skills help you identify ways to resolve disputes and find resolutions to revive a company.
- communication and listening skills: as a consultant, you need to listen to employees and stakeholders to understand their concerns. When assessing the impact of a problem, you should listen empathetically instead of focusing on the numbers and bottom line. Once you have strategies for resolving an issue, communication skills help you communicate concisely.
- time management: meetings and consultations are inevitable, but you will only make it to a few meetings without time management skills. As a consultant, organisational skills and managing time helps you achieve your goals and follow your schedule. Preparing for the day's activities is useful in optimising time and completing the items in your to-do list.
FAQs
FAQs about working as a consultant
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what does a consultant do?
A consultant provides advice on the best procedures to improve performance and increase income. You help businesses optimise their processes.
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what does consultant mean?
A consultant is a professional in a specific field who provides analysis and recommendations to companies or individuals. They are objective trouble-shooters and fixers who offer expert opinions and strategies for handling various issues.
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what qualifications do you need to be a consultant?
To become a consultant, you need a degree in business management or other relevant courses. Industry-specific knowledge in the company you intend to work for is essential.
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what is a consultant salary?
A consultant earns an average salary of £38,956 per year, but the pay bracket fluctuates depending on the area of expertise. You also enjoy numerous benefits and bonuses.
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what are the skills of a consultant?
As a consultant, you need analytical skills to evaluate your research findings and problem-solving skills to develop strategies.
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how do I apply for a consultant vacancy?
Applying for a consultant job is easy: create a Randstad profile and search our job offers for vacancies in your area. Then simply send us your CV and cover letter. Need help with your application? Check out all our job search tips here!
