Strategy consulting is an attractive career choice for many, and it's easy to see why. It allows organizations to have an outside perspective on their weaknesses, providing them with a starting point for improvement and a roadmap for the future. In some cases, the salaries of strategic consulting firms can be up to two times higher than those of their management consulting counterparts. This article will serve as a guide to what strategic consulting is, what a day is like for strategy consultants, and tips on how to become a strategy consultant.
If you're not pursuing an MBA master's degree, you may need to go beyond your chosen field of study to develop the business sense needed in consulting and demonstrate that you have strong analytical skills. The best way to do this is by doing internships in a consulting firm or in a high-demand industry during your time at school. This will give you the experience you need to get a strategic consulting job in the future. Finding someone who is successful in strategic consulting and asking them to help guide you on your journey is also beneficial. If you're looking for jobs that you can pursue after college, business school, or an advanced degree, you may have heard that management consulting is a highly sought after career.
Strategic consulting is the process of researching a problem and developing a strategy to solve it, and then advising clients on how to solve it or implement that strategy. Strategy consultants typically have a set number of days that they're willing to dedicate to a relationship with a client, and clients often have their own deadlines. Strategy consultants are valuable to companies that need help developing strategies or finding solutions to complex problems. While strategic consulting is especially beneficial for companies, technology can pose a threat to the industry, especially as AI improves at collecting and analyzing data. If you want to become a strategy consultant, it's less important to show them that you've done consulting before (most applicants have little or no consulting experience) and more important it's showing them that you have the skills needed to do the job. The best internships you can get if you're trying to become a management consultant are summer internships at consulting firms. Candidates who want to become strategy consultants should make sure they go beyond their chosen field of study to develop the business sense needed in consulting and demonstrate that they have strong analytical skills.
With hard work and dedication, they can become experts in strategic consulting and help companies develop and implement business strategies.