Career Exploration, Salary Information - Essay Example

Career Exploration Project Introduction Management consultancy is one of the most intrinsic occupations in the job market. A management consultant is an individual, who provides professional services concerning administrative issues, personnel change and other areas relating to growth and development of the organization. A management consultant has no boundaries when it comes to any business institution, public sector and workers organization. Essentially, a management consultant has jurisdiction over small, medium and high-level institutions (Sadler 64). The professional domain of a management consultant covers a wide range. It is prudent to specialize to enhance the ability to chart a path unrivaled by other factors. Accounting, recruitment and training of workers, work consultancy and insurance are some of the areas of specialization that a management consultant can seek to offer professional guidance. The area of specialization in the context of management consultancy is accountancy. The management consultancy job can be done from any setting, though it is prudent that the location is at the place where the organization seeking to hire a professional is situated. One of the most intrinsic things to note is that the office occupied by the management consultant should be well-equipped with no limitations of facilities. In order to become a management consultant, one must have successfully gone through an undergraduate program at the university and attained certain requirements for practice. Knowledge and skills are critical components required for success to be realized in the field. Management consultancy also requires general knowledge on various such laws, employment related issues, accountancy and administrative issues. Typical career path In order to be a management consultant, a university degree is relevant with a bias in business courses. Some of the areas of study include Business administration and logistics management. An individual can only achieve a certain level of success if at the undergraduate stage the person gets the highest mark of skills and knowledge has been realized. Institutions of learning provide a basis over which skills and knowledge are acquired for successful application in the job market. It is also important to note that specializing in the area is critical and of the essence. For instance, to offer management consultancy in accounting issues, there has to be a bias in the study of financial management at the undergraduate level. The path does not end at undergraduate level; postgraduate level also offers a basis for improving the competence level of an individual. Trends The dynamics in management consultancy in the modern dispensation cannot be over emphasized. Critical changes continue to emerge, making the occupation unpredictable and inherently challenging. One of the areas to focus is the technological use in management consultancy. In the modern edge, there exist sophisticated technological tools that are used to manage the affairs of organizations. Technological models have been devised to solve management problems to the extent that the professionals have been left at the periphery. On the other hand, professionals are compelled by circumstances to use technology in their consultancy issues (Sadler 112). The use of technology in management consultancy is to enhance efficiency and effectiveness. Essentially, technology is a critical tool that has emerged and all in the management consultancy realm have to embrace. It, therefore, means that individuals, who have chosen management consultancy, as their career should consider taking some information technology classes to enhance competitiveness in the job market. Another trend that has emerged relates to the organizational structure of various institutions. With constant dynamism being experienced in the management and structure of institutions, management consultancy career remains a challenge. New models of organizational structure have emerged to the extent that institutions are transforming their settings to relate to changes introduced. The traditional management structures are facing out, thus, complicating the work of management consultants. Management consultants have to adjust to new realities forcing some to go back to school to learn new models of organizational structure for appropriate application of skills and knowledge. Training provides a different kind of challenge in terms of personnel orientation. Trainings are varied and diverse and what is taught or learned at various levels is inherently different. Critical adjustments are needed for training individuals based on current trends to this end. Competitive and competent individuals are the person sought by organizations, and anything short of that does not warrant consideration. Management styles have changed both in theory and practice. New models of management have emerged, and fresh methods of learning have been diversified. Individuals in the career face a number of challenges due to various management changes. The challenges faced in this context are unique to the career field, though necessary adjustments in terms of knowledge and skills are necessary to cope with dynamics in the market. Salary information Salaries of management consultants are varied depending on the place of assignment. Salaries are offered to management based on the level of competence, experience, strategy development, and consultant management. Development and business strategies are some of the areas where management consultants draw huge salaries. Experience is a major determinant or the baseline over which salary is drawn. It is important to note that averagely a management consultant earns about $86, 648 annually. A management consultant with a bias in accounts draws a salary of about $100, 000 annually (Kubr 685). There are inherent geographic determinants that dictate the salary one can draw. Individuals, who are relatively new in the market and have an experience that is five years and below draw a salary of about 40-80 thousand dollars annually (Kubr 685). Management consultants in their mid-career draw a salary of slightly above $ 80, dollars to almost a hundred. Those who are experienced and have been in their career for between 30 to 20 years draw a competitive salary, and the range is more than $ 120 thousand dollars. The last categories are those who are almost heading out of their careers. Such individuals draw the biggest salary of up to $200, and they are the best paid in the consultant management industry. Experience plays a critical role in determining the amount of salary one can draw. Management consultancy stands as one of the best-paid jobs. Skills used A management consultant requires a number of skills to demonstrate an aspect of professionalism and competence. Analytical skills are one of the relevant skills that a manager needs to possess. In order to solve customer’s problems with relative precision, it is necessary to look at the details presented and analyze according to the professional understanding. Based on the understanding, it is important for the management consultant to provide a creative solution relevant to the problem presented. Flexibility and communication is a critical skill that is required by management consultants. The consultant needs to be flexible and in the sense that should adapt to the system and the setting of work with relative case. Consequently, the individual must communicate with utmost eloquence and confidence. One of the underlying areas of competence is the fact that a management consultant should communicate the problems and emerging issues to the client as appropriate. Interpersonal skills are critical to the job of a management consultant. Working with various groups of people within a given setup is inevitable. It is important for consultants to develop a working relationship that ensures results are achieved to this extent, and relevant information retrieved. Influence is a significant skill that a management consultant requires. Case in point is that a management consultant should be able to impact positively on the people around. When asked questions or in the event that an explanation is needed, the consultant should provide a convincing answer to the client for the positive review. Employing organizations Management consultants find employment in most of the organizations. In the public sector, management consultants are employed to shape the administrative agenda of the institutions. On the other hand, management consultants are employed by the public sector to aid in streamlining the recruitment and training of new personnel joining the organization. Consequently, management consultants verify and audit the accounts of public offices as requested by respective authorities. Non-profit organizations employ the consultants to help in structuring the institutions in terms of leadership structure. Moreover, management consultants aid non-profit organizations with accounting procedures necessary for stopping financial embezzlement. Information technology firms employ management consultants to help them in transforming the organizations through technological means. Financial institutions such as the banks, microfinance institutions and credit organizations also help management consultants. It is important to note that financial management covers a broad area to the extent that almost each organization would seek to employ their expertise. It is also important to note that management consultants have specializations and where they work is determined by the need of a given organization. From the private to the public sector, management gets employment due to their vast knowledge of financial, administrative and recruitment issues. Becoming employed Becoming employed as a management consultant is one of the most challenging. Management consultancy jobs can be gotten through job fairs. Referrals by the faculty are a rare occurrence. It requires experience and other critical components to enhance competitiveness in the job market. One has to go through some internship to familiarize with the issues in management consultancy to become employed. The idea is to get the necessary experience that can aid an individual gain the necessary employment. Becoming employed follows a process and procedures that are critical and challenging. Organizations recruit through competitive processes. Case in point is that the job specification becomes the first point of reference in getting the job. Recruitment and hiring are critical areas of employment for an individual who desires to be a management consultant. Referrals depend on getting the job depends on the institution one attends. Typical job postings One of the postings viewed recently was on a local public relations firm. The recruitment details included postgraduate degree, ten years experience, must have worked for an organization in a senior capacity and should be under thirty years. One of the issues that are of personal interest has to do with the experience needed by the recruiting firm. Experience can only be acquired through practice. Essentially the firm does not consider the young undergraduates who seek to further their course through active management in the job market. It, therefore, means that the posting is biased to the extent that it only requires experienced individuals effectively locking the young people out. It is proper that organizations provide equal employment opportunities to individuals. Most of the firms never consider the young people management positions. However, the firms may be right because management consultancy requires immense experience, knowledge and skills to manage. Work conditions The working environment for management consultancy should be located in a place where there are limited commotions. The office of the management consultant is situated at the same organization for which services are offered. All the necessary tools are materials are availed because the job requires critical analysis, a certain amount of calculations and creative solutions. The stress level for a management consultant is relatively low since the individual performs based on the issues presented and not through allocation of duties. Consequently, supervisions are not necessary, and client–customer contact is significant because consultations are to be frequently done. Travelling is not necessary unless necessitated by other external factors. Education/Training A management consultant must go through university training, and the minimum should be undergraduate level. Though it is important to point out that postgraduate level of education is essential and provides greater merit for any management consultancy job. Training is, therefore, through university training. Consequently, there are other advanced certificate courses that are necessary because they raise an individual’s level of merit and competence. Affiliations A management consultant can work in any organization depending on the problem presented. Case in point is that the consultants can work in the public sector, the corporate world and financial institutions such as banks. Accounting, finance, human resources, public sector and the administrative areas are some of the areas where a management consultant can offer expertise and work with relative ease. Outlook As many organizations continue to set branches and change their systems, more openings are likely in the coming few years. The openings are not just locally but internationally. The potential for the local market to open is quite high, and it is projected that currently and in the future more management consultants will be hired (Occupational Outlook Handbook 79). Lifestyle Management consultancy can negatively impact the relationship that an individual has with the family. Case in point is that the consultancy job requires time and dedication to the extent that the other members of the family, such as a wife and children may end up not getting the attention as appropriate. It can also bring disagreements between spouses because a party may feel neglected because of the job. Conclusion The personal values I possess are quite relevant for the job that is posted. However, there are certain limitations that are not a challenge because they can be improved on as may be relevant. Consequently, my current skills do not meet the requirements needed for the job. The limitations are critical and diverse and require serious adjustments. As I advance with my education, in my learning skills and knowledge will be changed and transformed extensively. My personality fits the requirements in the sense that I have the confidence and intellect to come up with creative solutions capable of bringing about results. A comparative analysis of the jobs compiled does not indicate any form of potential fit if anything they are professionally diverse in nature. What I wish to do next is to improve on by skills and knowledge through university training and other forms of certifications. Works Cited Occupational Outlook Handbook. Baton Rouge, LA: Claitors Pub. Division, 2012. Print. Kubr, Milan. Management Consulting: A Guide to the Profession. Geneva: International Labour Office, 2007. Print. Sadler, Philip. Management Consultancy: A Handbook for Best Practice. London: Kogan Page, 2001. Print. Read More