Financial risk management consultants belong to the Finance & Risks family of consultants, which represents almost 20% of the management consulting industry. Given the overlap of activities with law firms, auditors and boutiques in M&A, determining their size is often a challenge. And now, there is a relatively new and rapidly developing area of economic consulting, and those consultants are known as 26% economic strategy consultants. They are practically a subcategory and are part of the strategic consulting family.
Nowadays, there are at least 20 types of consulting jobs that are in the highest demand. Some of these positions require specific work experience, while others require specific skills to succeed. Next, we look at each of them so that you can choose the most cost-effective type for your consulting business. If you have a college degree, specialized in finance, marketing, or operations, and have five years of experience providing specific services, you're likely to land an impressive job at a Fortune 500 company.
You could also work successfully on your own. On the other hand, some people believe that only MBA holders can get a well-paid consulting job. MBA holders arrive at their first job with additional training and, generally, with confidence in themselves. MBA holders who gain experience in one consulting area can more easily switch to another area later on without losing ground financially than non-MBA holders.
While some studies indicate that MBA holders can earn up to 140% more than those who don't have an MBA, those who don't have an MBA with the right skills could get quite good financial results. Robert Half Management Resources surveyed more than 900 chief financial officers to determine where they were most likely to assign financial consultants and interim managers next year. Of the total, 57 percent said they would turn to the types of consultants who can optimize their finance and accounting projects. Taxes are the enemy of many overworked financial managers.
It's no surprise that 42 percent of the chief financial officers surveyed by Robert Half Management Resources gladly trust the types of consultants who deal with this area. Your consulting services can range from extinguishing (or preventing) seasonal fires to reviewing a company's entire fiscal approach. The only sure thing about regulations is that they are constantly evolving, as financial executives know all too well. Four out of 10 participants in the Robert Half Management Resources survey said they would likely hire interim managers in the next 12 months to offer them essential advice on how to integrate or update their GRC programs.
In addition, sales and marketing consultants can work for a marketing organization or start their own company. For more information on the different degrees of specialization and types of consultants in the consulting industry, as well as other dimensions, see this comprehensive guide. You might be wondering what types of consultants are in demand so that you can find a well-paying consulting job. In addition, the consulting industry offers independent consultants greater flexibility and the opportunity to choose their own professional careers.
It is useful when a financial consultant has experience in financial planning or specializes in corporate finance management, education costs, retirement planning, investments, or some other area that the client may need their consultant to become familiar with. As part of the broader marketing category, social media consultants are a relatively new area of consulting. However, to get the most value from their consulting expenses, companies must strive to measure the performance of their consulting project and evaluate the return on investment. A new type of consulting that falls within the field of marketing is the growth marketing consultant.
In addition, business process management consultants are a subcategory and belong to the operations consulting family...