When joining a consulting firm after graduating, you might wonder what opportunities lie ahead in the future. We take a look at how you could progress your career in the consulting sector.
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Step 1: Analyst
Joining a consulting firm as an analyst is the typical entry point following graduation from university. As an analyst you'll spend the majority of time on the client site, having responsibility for part of the problem-solving process. You'll support a team of consultants in research, data collection and analysis, as well as taking part in training and development programmes.
Read: Why a graduate career in consulting is for you.
Step 2: Associate/Consultant
After two to five years as an analyst, candidates who prove themselves may secure promotion to associate, or consultant analyst. In this role, you'll be responsible for identifying issues, forming hypotheses and helping with the implementation of change. Associates will manage larger aspects of the problem solving process and be responsible for presenting findings and formulating recommendations.
In terms of managerial experience, you'll help to structure the work and manage analysts who are working on the project. During your time in this role, you will gain sector-specific knowledge and develop core consultancy skills training.
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Step 3: Senior Associate/Senior Consultant
Senior associates (job titles will vary from company to company) are often promoted having shown promise as an associate. Senior associates will oversee an aspect of a large project and be appointed as project manager on smaller projects. It's the senior associate who is in charge of assigning work to the team, and leading and managing members in that team. You may be required to work independently on individual project tasks which are client-facing, as well as having input to sales, marketing and leadership strategy within the firm.
Learn the 11 key skills consulting firms look for.
Step 4: Principal/Senior Manager
As principal consultant or senior manager you will project manage all phases of the project and be accountable for the timely delivery of the project. Principal consultants will nurture and manage the talent within their team, as well as having to tackle some of the tougher business problems. You will participate in service proposition, business development work and thought leadership.
Step 5: Director
This will probably be a fair few years down the line from where you are now, but it’s worth aiming high. As director, you will be a senior expert and strategic adviser to senior clients within the firm. You'll be responsible for generating new business and developing client relationships.
Directors oversee the growth and direction of the firm, and are accountable for defining innovative strategies and achieving results. Promotion to this level is a formal acknowledgement of personal merit and accomplishment.
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FAQs
After several years of working as Consultant, most professionals progress to the role of Senior Consultant (or Senior Advisor, Senior Associate). In this function, many responsibilities lie within project management of relatively small scale projects or managing a specific area for a larger project.
What is the path to becoming a consultant? ›
Consultants usually hold degrees in business administration, finance or economics. However, degrees in psychology, marketing and computer science are common as well among business consultants. To work in a particular industry, consider a minor in that field in addition to a business degree.
What is the McKinsey consulting pathway? ›
The generalist consulting career path has three key 'phases': consultant roles, project management roles and Partner roles. Of the worlds' top-3 consulting firms, McKinsey offers consultants the quickest route to the Partner phase of the consulting career path.
What is the consulting ladder? ›
At management consulting firms, the career ladder usually has 4 to 5 levels. Level 0: Intern – Most consulting interns support other consultants by collecting data or running analyses. Not every consulting firm offers internships. Level 1: Junior Consultant / Analyst – Undergrads enter the firm at this level.
Do consultants get paid a lot? ›
The most recent data for 2024 shows that consultants make an average of $8,618 a month. That equates to $103,416 a year (pre-tax).
What is the Big 4 consulting ladder? ›
The Big 4 firms have a well-defined and structured career progression path that typically consists of four levels – Associate/Staff, Senior Associate, Manager, and Partner. Each level is associated with a set of responsibilities, expectations, and corresponding salary ranges.
How hard is it to get into McKinsey? ›
Depending on your academic background and set of experiences, passing the resume and cover letter screen may be the hardest round for you. McKinsey is extremely selective during this phase due to the large number of applicants (over 200,000 each year). Read on for the steps to take in order to get past Round 1.
What is McKinsey entry level? ›
The McKinsey hierarchy structure progresses through a range of roles, starting with Business Analyst (post-undergrad) and Associate (experienced hires or post-MBA), then Engagement Manager (experienced hires with 10+ years of experience) and finally Partner (including Associate Partner, Partner, and Senior Partner).
What is the 3 C's of consulting? ›
I still haven't found a magic formula but I have, nevertheless, noticed three interdependent variables with significant bearing: confidence, credibility and competence. I will describe each of these variables and their key characteristics below.
What is the Big 4 in consulting? ›
The Big 4 firms in management consulting are Deloitte Touche Tohmatsu (Deloitte), KPMG International (KPMG), PricewaterhouseCoopers (PwC), and Ernst & Young (EY). The term “Big 4”, however, comes from the accounting industry where these four firms dominate the market.
The three consulting firms widely regarded as constituting the Big Three or MBB are McKinsey & Company, Boston Consulting Group, and Bain & Company.
Is consultant a good career? ›
Consulting is a challenging and rewarding career path that can offer professionals the opportunity to work with a variety of clients, solve complex problems, and develop a broad set of skills.
What job level is a consultant? ›
As a Ph. D. candidate, MBA student, or an experienced professional with a few years of experience, you'll likely fit into the consultant or associate-level role. Junior consultants are also promoted to these roles (either directly or after they return to school for an advanced degree).
What do career consultants do? ›
Career consultants help people achieve their career goals. Simply put, it's a career helping other people with their careers. That can mean assisting people as they plot out their career trajectory, navigate applying to new jobs, work on getting promoted, and much more.
What exactly do consultants do? ›
A consultant is a person who's an expert in a particular field who gives professional advice to individuals and businesses in their area of expertise, usually on a temporary or contract basis until a particular need has been met. Companies hire consultants to: Get an objective, outsider opinion on processes or systems.
