MANAGEMENT CONSULTANTS analyze and propose ways to improve a company's structure, efficiency, and profits. They collect, review, and analyze information, and make recommendations to management. They first define the nature and extent of the problem by analyzing data, such as annual revenues, employment, or expenditures. They interview managers and employees, observe their operations, and develop solutions to the problems. They decide on a course of action, and report their findings to the client. They submit suggestions in writing or by oral presentations. They may be retained to help implement the suggestions they have made.
Salary, Size & Growth
- $83,500 average per year ($40.25 per hour)
- A large occupation (536,300 workers in 2010)
- Expected to grow rapidly (2.4% per year)
Employers prefer to hire MANAGEMENT CONSULTANTS with a master's degree in business administration or related discipline and at least 5 years of experience in the field they plan to work. Emphasis on scientific and technological applications at the undergraduate level is increasing. Those with a bachelor's degree qualify for work as research associates. Programs in business and management, accounting and marketing, economics, computer and information sciences, and engineering, provide a good background.