1. What are the key characteristics a consulting firm looks in consultants taken from B schools?
Mr. Atish) Consulting firms recruiting from B-Schools look at the following generic qualities in B-school grads (over and above their specific firm/project needs):
Educational Lineage & Track Record – This aspect needs to be top-notch against the entire gamut of grads available on a particular campus or in the open market. And in case of a campus, the leading consulting companies usually select institutions that have a strong academic orientation. So a sound track record (it needn’t be an IIT-IIM always) with a high CGPA or Grade, right from school, along with recognized academic brand names (not necessarily well marketed brands) is what makes the cut.
Blend of Academic & Co-curricular achievements – Consulting companies thrive on brilliant minds as well as those who can communicate well and effortlessly connect with clients. Thus a well rounded personality is what is more sought after. So a first ranker may not always be the best bet, but definitely those in the Top 5-10 with an exemplary achievement or knack will find favour.
Common sense driven, yet Methodical – It is imperative for a good Management consultant to be driven by common sense and yet be meticulous in thought process, and different communication modes (verbal/written outputs).
Demeanour – A pleasing and yet a business oriented demeanour fits the bill for most management consulting profiles. This is important as several future assignments would involve interactions with Top Management and discussions with multiple layers within a client organization. So a fair mix-and-match of a “communicative extrovert” and an “analytic introvert” is one whom wins the race.
2. What is a typical career path in consulting sphere starting from a fresh entrant in the industry? What are the key skills required in various roles?
Mr. Atish) Consulting companies have limited levels and can be generically put as:
Analyst level – this strata in a firm deals with understanding of business requirements, analysing solution options and presenting in a lucid and comprehensive manner. The key skill required is flair for understanding business processes and financial aspects and good presentation material preparation skills.
Consultant Level – This is the first level of taking dual ownership of delivering results on the assignments as well as managing client relationships. It requires people skills for external interactions and team skills for internal interactions.
Senior Consultant or Manager Levels – This part of the career starts knocking on the door for new business development or mining old business relationships. It necessitates relationship building skills along with client management skills.
Senior Manager, Principal Consultant Levels – This level deals with significant influence on the Profit & Loss account of the practice. Thus it necessitates sound financial knowledge. It also encompasses people management skills, as any self-respecting consulting firm gives top priority to people and their retention and well being decides the future of the firm.
Partner or VP levels – Depending upon the operational policies of the firm, the Partner or VP levels decide the direction of the firm, development of the firm, short term opportunity encashment and long term prospect development. It needs networking skills, people management prowess, financial knowledge and significant leadership skills.
3. How does Management Consulting differ from IT Consulting? Can one move from one to another easily?
Mr. Atish) Management Consulting is the super set of different forms of consulting viz. Strategy Consulting, IT Consulting, Supply Chain Consulting, ERP Consulting, HR consulting etc. Management consulting, as a term, is interchangeable used with Business Consulting.So anything which deals with better management of resources and opportunities and those which impact business growth & prospects is under the purview of Management consulting.IT consulting on the other hand necessarily focuses on IT as the platform for business gains or removal of wastages in the organisation whether in terms of money, effort etc.
It is fairly common to have specialized people in either of the two areas of Management Consulting & IT consulting. And though there is an overlap of ERP based consulting adopting the role of Management consultants, it is usually better left to work in two different spheres with harmonious collaboration.
4. Are there any myths about “Consulting Career”? (Common beliefs that may mislead someone)
Mr. Atish) The biggest myth about the Consulting Career is that it makes people “Snotty”.
Usually the top notch salaries that some Management consultants are able to take home, lends an arrogant outlook to this entire breed.
Actually Management consultants are just business minded and need to manage their time because of the nature of their work and the expectations from them. It’s like asking a person to shrink the learning of 20-25 years of work experience (in the client’s environment) into a few months of figuring out what ills are their in that system.
It is also contrary to popular belief that most of the core problem analysis & solution roadmap formulation is done by a brilliant mind alone. Actually it is ably supported by sound consulting methods, research inputs, extensive team discussions and falling back in some cases on the past work bank of the firm.
5. If I am not from a premier B-School or do not have very good past academic record, how can I prove myself good for a consulting job?
Mr. Atish) Consulting careers do get going faster with B-school education from a premier institution. But dedicated knowledge and skill development in a particular industry or related industries helps form a strong consulting career’s foundation. For example an automotive experience with detailed manufacturing or supply chain exposure; or a FMCG stint with a Channel Development exposure helps lay a good foundation to leapfrog onto a consulting job.
Several consulting assignments necessitate proven track record in a similar environment. So functional skills developed during any company stints supported with a reasonable good academic orientation and track record serves amply well for a consulting job.
6. Which are the major Consulting companies in India (with their specialization, if any)
Mr. Atish) Mckinsey & Co, The Boston Consulting Group, Accenture, Bain & Co, Deloitte, Booz & Co, Monitor Group are some of the big names in the Consulting domain.
Most of the big names specialize in Strategy formulation and direction setting domain. Monitor Group focuses in the HR consulting domain, including strategy consulting. Booz & Co specializes in government advisory functions thanks to their US Federal government experience and it is said to be gradually growing big in India too.
http://insidemba.in/2010/02/03/looking-for-a-career-in-consulting-sphere-hear-from-the-experts/
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