Introduction

When it comes to choosing a career path, there are countless options available, but consulting may just be the perfect choice for those who crave challenge, growth, and variety in their work. In this article, we will explore the top reasons why consulting can be a great career choice, from the chance to work on interesting and diverse projects to the potential for high earnings and career growth. We will also delve into the specific skills and competencies that consulting can help you develop, as well as insights and advice from industry experts and successful consultants. Whether you’re considering a career change or just starting out in your professional journey, read on to discover why consulting could be the perfect fit for you.

7 Reasons Why Consulting Can Be the Best Career Choice for You

There are many reasons why consulting can be an excellent career choice, from the variety of projects to the potential for high earnings and growth opportunities. Here are seven key reasons why consulting can be a great choice for young professionals:

1. Diverse Projects

Consulting projects can span across industries, from healthcare to finance to technology. This variety of projects means that consultants are constantly exposed to new challenges and diverse client needs, which can be an exciting and rewarding experience. Each project provides consultants with the chance to learn new skills, tackle new problems, and make a meaningful impact on clients.

For example, a consultant who works on a project with a healthcare client may have the opportunity to learn about the intricacies of the healthcare industry, such as regulatory compliance or patient care workflows. The following year, that same consultant may pivot to a finance-related project, providing them with the chance to learn about a new industry and expand their skillset.

2. Exposure to Different Industries

Consulting offers professionals the chance to work with a variety of clients across different industries, from startups to Fortune 500 companies. This exposure allows individuals to diversify their skillset and become well-versed in various industries, making them more marketable and attractive to future clients or prospective employers.

For instance, a consultant who worked with a healthcare institution may have an in-depth understanding of healthcare delivery systems and regulations, which can be invaluable when working on future projects in the same industry. However, the same consultant may be equally capable of working with a client in the financial sector due to their exposure to diverse industries. Such exposure makes a consultant a “Jack of all trades,” making them experts in various industries.

3. Constant Learning Opportunities

As a consultant, you are always learning. Each new project provides the opportunity to expand your knowledge base and develop new skills. Consulting stimulates growth while allowing you to explore a vast array of industries, an exposure you may not receive through other jobs. You may be consistently exploring your creativity, researching new investigations, and garnering experience regarding possible solutions to a task. You get the opportunity to learn from experienced colleagues and build on their knowledge as you work together to find solutions.

Furthermore, employers in consulting companies encourage their employees to continue with their education, providing training programs and certifications that support employees’ development. A consultant’s organization values continuous learning, which means employees receive ongoing development and have the opportunity to remain competitive.

4. Work-Life Balance (Compared to Other Industries)

Consultants tend to enjoy a better work-life balance than professionals in other industries. Unlike certain professions that require workers on-duty round the clock, consulting may not require more than 60-80 hours per week, depending on the project. A lot of consulting firms offer employees flex-time and remote working opportunities, giving consultants the flexibility to complete their work on their schedule.

Though there may be times when deadlines require you to work some extra hours, consultants are valued for their productivity. In consulting, work is measured by the results achieved, not by the total hours spent in the office.

5. Networking Opportunities

While working as a consultant, you will interact with different people from companies and industries every project cycle. Client engagements foster regular dialogue between you and your clients, giving you the chance to showcase your abilities and develop a relationship based on trust. Your work may yield results for your clients, creating references and an excellent reputation that increases the likelihood of repeat business.

The networking opportunities are not only client focused, but also colleagues. Most consulting companies encourage a collaborative working environment, which creates various opportunities to strengthen relationships and learn from your peers.

6. The Potential for High Earnings

Consulting is considered a potentially lucrative career choice for a reason; consultants typically earn competitive salaries and receive bonuses based on the value they bring to clients. While consulting salaries may vary depending on firm size, location, and experience level, entry-level consultants typically make between $70,000 to $120,000 annually.

Furthermore, consulting companies tend to offer various benefits, including bonuses, paid leave, and health insurance. If consultancy becomes something that you excel at, you may enjoy an upshot in salary over time. You may become more valuable to your company and clients as you gain more experience and specialize in certain areas.

7. Career Growth Opportunities

Consulting provides endless opportunities for professional growth and career advancement. Working in the industry can expose you to different industries, making you more marketable and increasing the opportunity for higher-paying roles. Due to the experience and skillsets obtained from consulting, consultants have a competitive edge when switching jobs in various sectors.

Consultants may also gain leadership and management training, which can prepare them for opportunities to run their departments, a region, or even multinational offices. Therefore, most consulting firms provide employees with a deliberate, structured career path that contains significant exposure across both similar and diverse projects and positions.

The Benefits of Consulting: How It Can Foster Personal and Professional Growth

Consulting is an excellent career path choice if you’re interested in personal and professional growth. Here’s how:

Developing Valuable Skills and Competencies

Consulting exposes you to various industries, which is an opportunity to learn skills that cannot be learnt elsewhere. Skills like strategic thinking, communication, teamwork, and leadership is honed in consulting. Exposure to different industries will demand more of you, which is a valuable opportunity to develop and demonstrate competencies that future employers will find appealing. For instance, if you worked on a project where you had to develop a market entry strategy for a healthcare client, this would involve researching and analyzing data and communication with different stakeholders, developing skills that will be valuable in future work engagements.

Opportunities for Future Career Advancement

As mentioned earlier, consulting experience will sky-rocket the chance for future career advancement. As consultants move around different projects, they have the ability to specialize in a specific industry or area of consulting, giving them an edge in differentiation and making them stand out in the market.

Also, it ‘builds’ you as a professional who is consistently engaged in self-development. Consulting experience develops skills such as problem-solving, critical thinking, and strategic planning that are vital in emerging industries, building a path to bright employment prospects.

Why Consulting is a Lucrative Option for Young Professionals

Consulting can be an extremely lucrative career path for young professionals. Here’s why:

Higher Salaries Than Other Professions Post Graduation

Compared to other positions requiring similar years of experience, consulting salaries are on the higher side. According to Glassdoor, the average base pay for entry-level consulting jobs is $77,368, which is significantly higher than other positions with similar levels of experience. Furthermore, consulting firms offer various perks such as bonuses, profit sharing and stock options, increasing total earnings.

Consulting companies also offer structured career advancement plans that are linked with pay hikes; meaning as you gain more experience and achieve specific milestones, your pay will go up.

Chance to ‘build skills early’ in One’s Career

Consulting is considered a great starting point for young professionals with limited experience. The exposure to various industries and challenges allows you to build your problem-solving and critical thinking skills early in your career. It is an opportunity to gain exposure to different areas of the business, preparing individuals for future career prospects.

Consultants also benefit from networking opportunities: connecting with clients from different industries, building a clientele from scratch, collaborative working, and exposure to various sectors and operations.

Consulting: The Ultimate Challenge for Problem-Solvers and Critical Thinkers

As a consultant, you’re faced with high-stress situations, which tests one’s critical thinking capabilities. Here’s what that looks like:

Problem-Solving & Critical Thinking

Consultants are employed to solve complex problems. You are presented with new challenges and opportunities that you have no idea how to tackle but must find solutions. They are expected to be a problem solver, researching, and analyzing data and developing recommendations for their clients based on the findings. This experience builds and sharpens critical thinking skills, making it easier to approach other complex issues they may face in their careers.

Project & Time Management

Consulting is often all about managing different projects to meet the specified deadlines. Consultants must organize and manage their work schedules, ensuring that the work is completed on time and to the highest quality possible. Time management is crucial as consultants must balance demands from various stakeholders and clients while ensuring the delivery of excellent work in a timely manner.

5 Amazing Success Stories of Consultants That Will Inspire You to Pursue This Career

Here are profiles of some successful consultants and their unique career journeys that may inspire you to consider consulting as a viable career option:

1. Booz Allen Hamilton – Angie

Angie started at Booz Allen as an Associate straight from college. During her stint at the organization, she distinguished herself from her peers by being involved in multiple projects across different industries. Her competencies and expertise in technology made her valuable to the company and clients. She put in committed efforts in her work which resulted in being a Principal and being responsible for leading technology projects at Fortune 500 companies.

2. Deloitte – Michael

Michael began his consulting career as an associate with Deloitte. Like Angie, he excelled in his work, gaining attention and accolades early in his career. He specialized in Change Management and drove several projects with Fortune 500 customers in New York. His excellent performance culminated in him being recognized as an IT Director at a large healthcare institution.

3. McKinsey & Company – June

June joined McKinsey & Co. a year out of college. She displayed high competency levels with her strategic thinking and analytical abilities. Throughout her career, she was involved with multiple high-level projects in Africa, Europe, and America. June’s specialty in African healthcare launched her into the nonprofit sector, where she currently chairs a leading health organization.

4. Bain & Company – Andrew

Before landing at Bain, Andrew was a talented architect and an award-winning basketball player. He joined Bain and eventually became an expert in the healthcare space, working with international hospitals. His skills and specialized knowledge enabled him to become the VP of Healthcare strategy in one of the largest hospital chains in the United States.

5. Oliver Wyman – Sophia

Sophia joined Oliver Wyman straight after her MBA program. She worked hard to prove that she was worthy of a leadership position while advancing. She was selected to lead critical projects in Asia, which saw her deliver exceptional value to her clients. Her management of these projects put her in good stead, which eventually led to her becoming one of the first Asian partners at Oliver Wyman.