Career Opportunities In Consulting
Career opportunities in consulting: Article is written to get some clarity how consulting firms are working, to recruit the candidates. How they are working on a job profile on consulting. The Current Corporate world has plenty of goals and problems to achieve in future. Which makes it hard for them to get right candidates for them. From large companies to recently started startup companies are having the same issue. However, solutions to their problems are solved by consulting firms. These consulting firms are seriously searching for the skilled human resources. For the last four years IIT campus final placement reports shows these consulting firms having upper hand than the direct company’s recruitment. Consulting career opportunities in order to focus on this …
What is a consulting firm and what they do?
Consulting firms are providing their services and suggestions in the market segment to their respective industries / enterprise development. Consulting firms are based on data collection and analysis in the first stage evaluates the consulted firm’s performance.
In the second phase evaluates the current and future conditions. According to that, the strategies are to be followed by the company to provide a comprehensive report. In that report they will mention suggestions and hints to improve their firm or company. Recently, two types of consulting firms are particularly popular.
The strategic consulting firms are providing services to the new companies coming to the market in fields of market research, project reports, development plans, etc.
The operations consulting firms provide services such as planning and internal development to those who are already in the market to achieve growth.
Based on production and produced products they analyze the performance of the competitors. The necessary suggestions for activities will be provided.
Top Consulting firms are in IIMS:
Top consulting companies for talented young people concentrating on IIMs and other leading B-schools. People who have the appropriate skills they are getting salaries in Lakhs. The large number of students is focusing on a career in consulting. Those who got the double offer in campus recruitment they also giving first priority to career in consulting. Growth in consulting firms is much better than the other organizations. So, students are automatically effecting to a consulting career.
Highest salaries in consulting firms:
The consulting firms who are recruiting through campus placements they are also in number one position for offering the highest salaries while comparing with the other companies. Based on academic track record and skills they are offering from 15 lakhs to 25 lakhs per annum. In 2015 Boston Consulting firm offers a maximum of 1.27 crores for international packages.
Selection Process in Consulting Firms:
Consulting firms are doing differently in campus recruitments. They are showing creativity in short listing the candidates. Their recruitment will be in three or four stages.
Stage1: This stage they will verify the candidates resume briefly.
Stage2: Having written test. They will verify the analyzing skills of the candidate completely. They will give a case study and asks to show solution for that. McKinsey and Boston consulting firms conducts problem solving test base on real case studies and analysis.
Stage3: Having group discussion in this stage. Preferences will be given to those who are having explanation skills and People skills.
Stage4: Personal interview based on problem solving. And they will ask why r u willing to join in Consulting firm.
Those who are completed interview successfully within 3 or 4 hours offer letter will be mailed or confirmation message will be sent to mobile.
Consulting Career Opportunities:
Giving high priority to Internship:
While giving offer letter companies are giving priority to those who are willing to do Internship. The same has been said by campus placement cell in charge at the time of interviews in IIMS. A trainee intern will understand the performance of the company and internal operations.
Positions in consulting firms:
Positions are based on the academic qualifications. Generally three types of level will take place in consulting firms
Analyst, Junior Associate: Companies prefers fresh graduates to these positions. In terms of performing data collection, data analysis, findings and reports are functions as designed.
Consultant, Senior Consultant, Manager: In addition to experience working in executive positions for those who completed the post graduate programs for them these posts are offering. Their duty is based on the analysis reports given by lower level analyst and junior associate.
Principal / Director: Consulting companies, which are specified in top-level positions in the second layer. They will not be recruited to through campus placements. Building the client relationship directly to the people in these rankings and new clients acquisition tasks are given to them.
Leading Consulting Firms:
- Bain and Company
- PwC (Price Water Cooper)
- McKinsey & Co.
- The Boston Consulting Group
- T. Carney
- Accenture Strategy
- Strategy & Co.
- Earnest & Young
Consulting Boom in IIT’s:
Consulting firms are in first position to appoint engineering graduates. The process picked up the prestigious IIT campus recruitments under process. Final placements for those who completed the course in 2016, had taken up the evidence of the first phase of the recruitment figures. IIT Kharagpur going to double the number of students compared to last year, they were employed by the consulting firm.
IIT-Mumbai Tier -1 appointment for consulting firms is 50 percent more than last year. IIT-Delhi, Roorkee, Guwahati campuses are also increasing from 30 to 40 per cent. BCG is known as the leading consulting firm, Ernst & Young, which offers companies more than doubled last year, provided fresh engineering graduates Offers. BCG, IIT campus recruitments in the first stage the company has provided 38 offers. The company Bain & Co. is also a leading consulting firm in the past year, more than 40 per cent of engineering graduates were being recruited.
As part of the internal performance of consulting firm’s data analytics, digital transformation, cyber security, analysis of complex in technical areas engineering professionals need is increased. Consulting firms, depending on the level of annual wages up to Rs 10 lakh and Rs 30 lakh have been provided in the offers. From February to April last week the same boom will be shown by recruiting companies.
So, friends don’t neglect career in consulting. For any queries you can contact us through mail or comment box. Please share this article to your friends through Google plus, Whatsapp and Facebook.