What is consulting, and how do you break in?

Consulting is a highly sought-after yet competitive career path. It requires an individual to be well-versed in problem-solving, analysis, and communication, as well as have a keen business acumen. Those who aspire to become consultants must have the drive to succeed, as well as the willingness to invest time and energy in their education and professional development. For college graduates, breaking into the consulting field can be challenging. It requires a carefully crafted strategy that involves networking, researching potential employers, and building a resume that highlights the skills and experiences that make the individual a great fit for the job. With the right approach, and the right level of commitment, college graduates can become successful consultants.

What is consulting?

Consulting is a profession that involves advising and assisting clients with their business operations. Consultants bridge the gap between business stakeholders and internal teams to help organizations solve challenges and realize value. They use a wide range of skills to analyze problems and provide solutions, such as data analytics, process improvement, strategic and business planning, organizational design, technology implementation, and change management. Consultants also assist with the implementation and operationalization of recommendations. Consulting is a flexible career path that allows individuals to find a niche that aligns with their skills, interests, and passions. And, there are many types of consulting that one can pursue, including management consulting, strategy consulting, technology consulting, and others.

Benefits of a consulting career

Career variety - Consultants are often engaged in a wide range of projects, allowing them to explore various industries and functional areas. This gives consultants the opportunity to build a wide range of skills and experience.

High earning potential - Consulting is a lucrative career, with the average annual compensation at approximately $100,000. Many of the top consulting firms are able to offer high pay to attract top talent.

Flexibility - Consulting offers a highly flexible work environment. Whether you telecommute or commute to the office, the ability to adapt your work schedule to your lifestyle is a benefit of the profession.

Networking opportunities - Networking is an essential element to getting a consulting job out of college, and will play a significant role in your career path once hired.

Challenges of breaking into the consulting field

Competition for positions is high - There are many highly qualified candidates pursuing a consulting career. This competition makes it more challenging to break into the field, particularly as a recent graduate.

Lack of clear pathway - Unlike many other career paths, there is no clear pathway to becoming a consultant. This can make it more challenging to determine the right path to entering the profession.

Lack of defined career path - Unlike many other fields, consulting does not have a clearly defined career path. This can make it challenging to map out a path to success in the profession.

Risk of being overqualified - Many firms hire college graduates who are eager to break into the field. They are often willing to take on individuals who do not have relevant experience. Unfortunately, this can lead to being overqualified for the job, which makes it more challenging to get hired for other positions in the future.

Reputation for working long hours - It is common for consultants to work long hours, which can turn off some individuals who are interested in the profession.

Networking strategies to get into consulting

Before you start applying for jobs, take the time to network and build connections that can help you land a job. Some of the best ways to do this are:

• Join your school’s student association - Many schools have student associations that connect students to professionals in the industry. Joining the student association will put you in touch with professionals who can put you in touch with hiring managers.
• Join a consulting club or networking group - If your school doesn’t have a consulting club, consider starting one. There are many online networking groups for consultants who are also college students.
• Attend industry events and conferences - Find out when the next industry event is being held in your city, and go. You never know who you might meet at these events.
• Make connections with alumni - Be sure to leverage your school’s alumni network and use it to your advantage. Alumni are a great resource for finding out about job openings at top consulting firms.

Research potential employers

Along with networking, you should also take the time to research potential employers. Find out which firms are hiring, what types of projects they are working on, and whom you should be reaching out to within the organization. This will help you tailor your resume and cover letter to the firms you are interested in working for, and increase your chances of getting an interview. Start by looking at the websites of consulting firms you are interested in working for. You can also search for job boards that list consulting jobs, such as the ones below:

• The Boston Consulting Group
• Bain & Company
• The Blackstone Group
• Deloitte
• The McKinsey & Company
• The Monitor Group
• Oliver Wyman
• Accenture
• A.T. Kearney
• Gartner
• IBM
• PwC
• General Electric
• KPMG

Preparing for the job interview

With a carefully crafted resume and networking strategy, you should be able to land an interview with some of the top consulting firms. Now it’s time to prepare for the interview. Be sure to do the following:

• Know the firm inside out - This includes both the culture and the work that the firm does. You can do this by reading case studies, company newsletters, and articles written by industry experts.
• Practice answering common interview questions - There are a number of common questions that senior-level hiring managers will ask you during the interview. Prepare by reading the common consulting interview questions.
• Beware of personality fit questions - Many firms ask candidates to complete a personality assessment test, such as the Myers-Briggs Type Indicator. These questions aren’t designed to trick you, but rather to understand your personality and how it fits within the firm.
• Brush up on your Excel skills - It is a given that you will be asked to complete some type of Excel-based exercise. Make sure you brush up on your Excel skills before the interview.

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Develop professional skills to become a successful consultant

The best way to break into consulting is to show potential employers that you are ready to make the leap from student to consultant. This can be achieved by taking on projects outside of the classroom and building a portfolio of work. This will also help you gain the skills and experience necessary to break into the industry, such as:

• Learning how to solve business problems - Take on projects that help you learn how to solve real-world business problems. This will help you identify and understand the challenges businesses face, which will be useful when you are working as a consultant.
• Understanding how businesses operate - Understanding how businesses operate will help you determine the best way to solve a problem. You can do this by reading business books, industry journals, and other materials that shed light on how industries work.
• Learning how to present your findings - Consulting often involves working with teams, and presenting your findings at the end of a project. Make sure you know how to present your findings in a clear and concise manner.

Resources and programs to help college graduates break into consulting

The HULT International Business School - This top business school offers a Consulting Pathway Program for college graduates looking to break into consulting. The program provides training and mentoring to help individuals become successful consultants.

The Duke University Center for Executive Education - Duke offers a Weekend to Consulting program that is designed to help college graduates break into consulting. The program is a weekend long, and includes an introduction to the consulting industry and its hiring process, along with mock interviews and a resume review.

The HBS Consulting Club - Students can join the HBS Consulting Club, which hosts networking events and workshops to help students prepare for a career in consulting.

Conclusion

Consulting is a highly competitive career path, but one that can be extremely rewarding for the right individual. To break into the industry, it is important to start networking with professionals in the industry as soon as possible, and also take the time to research potential employers.