Management Consultant Job Description: Top Duties and Qualifications

A Management Consultant, or Management Analyst, is responsible for using their business and financial expertise to help Managers or Executives maximize their business’s profitability. Their duties include reviewing financial statements and operational data, meeting with department heads or company employees to gauge their perspective of company needs and compiling reports that outline a strategy for enhancing profitability.

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Management Consultant Duties and Responsibilities

A Management Consultant already has years of experience under their belt, so the duties and responsibilities should be second-hand nature since this job is a higher-level one.

The following are typical Management Consultant duties and responsibilities:

  • Analyze financial data including expenditure reports, revenue data and employee reports.
  • Develop solutions or alternatives to the current state.
  • Recommend new methods, systems, procedures or organizational changes.
  • Make these recommendations through in-person presentations or in written format.
  • Interview company employees and observe what is going on in the business to understand what kind of changes to employees, equipment and methods are needed in the company.
  • Conduct or recommend options for employee training, as needed.
  • Gather data and organize information about the problem that has to be solved or a method that has to be improved.
  • Discuss, provide feedback and follow up with management to make sure the recommendations for changes are working.

What Does A Management Consultant Do?

Management Consultants typically work for consultant firms or as freelance professionals to help businesses identify areas for improvement, develop strategies and execute business initiatives. They work closely with company leadership to help them pay off debt, maximize revenue, enhance product quality or achieve heightened employee productivity. Their job is to maintain communication with their clients throughout the implementation process to see if their suggestions work and whether they need to apply different business strategies. They may also be responsible for helping the HR department create detailed hiring guidelines and training programs to reduce employee turnover rates.

Management Consultant Skills and Qualifications

The Management Consultant also has various skills and qualifications in order to perform this job. Qualifications have been accumulated throughout the years and skills have been perfected with experience.

The following are the major and common management consultant skills and qualifications:

  • Management Consultants should have keen time management skills in order to meet tight deadlines and complete projects on time. 
  • Management Consultants have to work with management and other employees in a business to research information particular to the business where their services are needed. They have to communicate well with others to work as a team.
  • Management Consultants should be efficient in communicating verbally and in writing. Successful management consultants also have very good listening skills to understand the root of the problem and propose a solution.
  • Management Consultants have to know how to arrive at a solution to a problem. Each situation is likely to be unique in its own way which requires complex thinking from the management consultant.
  • Management Consultants have to interpret complex information in order to propose solutions and communicate their findings to the management of the company or organization.

Management Consultant Salary Expectations

The average salary expectation for a Management Consultant is $80,934 per year.  There is also an average profit sharing of $10,750 per year.

Management Consultant Education and Training Requirements

A Management Consultant typically has a bachelor’s degree in a related field like business, economics or finance. Some employers do prefer candidates who have a master’s degree in business administration. Other common fields of study include marketing, management, psychology and computer and information science. In some locations, there are recognized certifications Management Consultants can earn through minimum education and experience requirements, client reviews, an interview and an exam.

Management Consultant Experience Requirements

Analysts usually enter into a consultant role with previous years of work experience. Consultants have to prove they have work experience in the special field the organization works in since organizations tend to hire consultants who have worked in their field. Previous work experience can vary widely but can include Accountant, Market Research Analyst or Auditor.

Job Description Samples for Similar Positions

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Frequently asked questions about Management Consultants

 

What is the difference between a Management Consultant and a Business Consultant?

Both Management Consultants and Business Consultants use their expertise to help Business Owners achieve their short and long-term goals. They usually differ in their professional experience, which affects their job environments. For example, Business Consultants and Management Consultants usually have a bachelor’s degree in business or business administration, followed by a master’s degree. However, Business Consultants usually earn a certification as a Business Coach or Business Consultant after completing a few years of work experience in business administration.

In contrast, Management Consultants need to have previous work as a consultant to obtain a Management Consultant certification. Because of these differences, Business Consultants are typically qualified to work with small businesses or start-ups to help Business Owners establish smart tactics to operate and market their business. In contrast, Management Consultants usually work with large corporations to help executive staff members identify business problems and develop improvement strategies.

 

What are the daily duties of a Management Consultant?

On a typical day, a Management Consultant arrives at their firm and checks their email or voicemail messages. They review their list of appointments and speak with the Firm Manager to discuss prospective clients and their needs. Throughout the day, Management Consultants travel to one or more of their client’s business locations to participate in meetings with company Executives and Board Members. They use downtime in their office to review company documents and write analytic reports.

 

What qualities make a good Management Consultant?

A good Management Consultant is someone who has excellent written and verbal communication. This quality allows them to write analytical reports and speak with Business Owners in a comprehensive way. They have significant knowledge in one or more industries relating to their clients’ businesses and frequently read magazines or educational journals about industry topics. Further, a good Management Consultant has the ability to make every client feel like a priority, even when they have multiple clients at one time. 

A good Management Consultant also respects their client’s concerns or differing opinions and works to find business solutions that work within the client’s needs and budget.

 

Who does a Management Consultant report to?

A Management Consultant reports to different roles depending on their place of employment. For example, freelance Management Consultants typically report directly to the Chief Executive Officer (CEO) of a company or a Business Owner to help them achieve their business goals. In contrast, Management Consultants working for consulting firms may report to the Firm Manager or Senior Management Consultant to receive client assignments. 

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