consulting business

How to Get Into Consulting Jobs

By Gloria Taylor 3 June, 2023 2 mins read

A great communicator with a strong work ethic, you might be a good fit to consult jobs. You should expect to be able to take on high-level responsibility if you're a potential consultant. Consultancies are always looking for talented, bright candidates to fill this demanding role. You can read on to learn about what you can expect in a consulting job. Here are some tips that can help you get in the door.

Working as a consultant involves high levels of responsibility

Consultants are responsible for solving client problems. You will also be responsible for making sure your team is available to take over if you are not there. This can be done by consulting, but it can be expensive. It is important to set expectations early. It is possible for consultants to have different priorities than your team. This makes it important to be aware of the scope of your projects.

Communication skills are essential

Communication is a key skill in a job interview. Communication is often considered to be the foundation for a successful job interview. Good communication is important for firms because it allows them to influence their colleagues, build relationships and get the buy in they need to succeed with their projects. These tips will help you communicate more effectively during interviews. Recognize your weaknesses in communication and work to improve them.

Working experience is crucial

Whether you're applying for a summer internship or a permanent position, consulting firms want to see relevant work experience from recent graduates. The same applies to work experience in investment banking and industry. Internships are a great way to see what you'll be doing, and it can help you decide whether consulting suits you. You can also highlight the achievements, challenges, and solutions that contributed to your past success.

Consultancy firms are seeking smart candidates

Bain and McKinsey look for candidates who have strong work ethics and an academic background. These companies are looking for people with smarts and the ability to work with others. They are also looking for candidates who can inspire others and are curious.

MBA is not necessary

An MBA may not be necessary if you're considering a career consulting. A MBA is useful for many reasons. You can network with others who share your interests. You can also save tons of money by skipping the expense and time required to get an MBA. Final note: If you do choose to pursue an MBA, it is possible to go back and finish your degree.

Interning at a consulting firm is a good way to find out if being a consultant is a good fit

Consulting firms tend to hire highly-qualified individuals who are known for their connections. Many have large alumni networks which they use for recruiting new talent. Consulting firms want to know if you are able to work in a team and build connections during interviews. Consulting firms will not only be looking for academic records but also other skills such as collaboration and creative problem solving.

FAQ

Are consulting incomes subject to tax?

Yes. You will have to pay taxes on your consulting profits. This amount will depend on how much you earn each year.

If you're self employed, you can deduct expenses beyond your salary.

But, interest payments on loans, vehicle and equipment depreciation will not be allowed to be deducted.

If your annual income is less than PS10,000, you can only claim 25% back.

However, even if your earnings exceed this threshold you may still be subject to tax depending on whether or not you are a contractor or an employee.

Employees are generally taxed through PAYE (pay as you earn) and contractors through VAT.

What are the benefits of consulting?

Consultants can often choose the hours and topics they work on.

This allows you the freedom to work wherever you like, whenever you want.

You also have the freedom to change your mind at any time without fearing losing your money.

Finally, you can control your income and set your own schedule.

Can you run a business consulting from your home?

Absolutely! Many consultants do this already.

Freelancers often work remotely through tools like Skype and Trello, Basecamp, Basecamp, Dropbox, and Slack. They often create their own office space so they don't miss out on company perks.

Some freelancers prefer to work at libraries and cafes instead of traditional offices.

And others choose to work from home because they enjoy being surrounded by their children.

Although working from home is a great option, there are some downsides. It is worth it if you love your work.

Statistics

So, if you help your clients increase their sales by 33%, then use a word like “revolution” instead of “increase.” (consultingsuccess.com)
"From there, I told them my rates were going up 25%, this is the new hourly rate, and every single one of them said 'done, fine.' (nerdwallet.com)
Over 62% of consultants were dissatisfied with their former jobs before starting their consulting business. (consultingsuccess.com)
According to statistics from the ONS, the UK has around 300,000 consultants, of which around 63,000 professionals work as management consultants. (consultancy.uk)
WHY choose me: Why your ideal client should choose you (ex: 10 years of experience and 6-week program has helped over 20 clients boost their sales by an average of 33% in 6 months). (consultingsuccess.com)