Consulting Industry Resource Guide

Background: Consulting firms work behind the scenes with businesses, governments and institutions to investigate
problems and implement solutions. Consulting firms are usually hired on a project basis to help clients objectively
solve specific, identified problems or research and develop strategies for improving the client company. Typically,
consultants conduct research, analyze data, prepare reports and present findings. They offer their clients
specialized knowledge, experience, special skills, creativity, as well as their time and expertise. The most common
type of consulting is general management consulting, although there are many different areas of specialization
within the field that provides opportunities for technical experts in all industry fields ranging from science to
medicine to defense to international development.

Career Pathways and Lifestyle: Companies hire consultants not only for their problem solving abilities, but also for
their objectivity. Typically Involving long hours (50-75 hour-work weeks are not uncommon) and teamwork, this
type of work has a generally fast-paced and stimulating environment. Some consulting assignments are short-
term (a few weeks) while others are long-term contracts lasting years. Travel is an important aspect of most
consultant’s professional life. As profits are typically derived from fees to clients, spending time with clients at
their place of business is an essential part of the job; with consultants spending an average of three to four days a
week at a client site.

It is possible for a consultant to build an entire career with one company. From the analyst or associate level, an
individual can work up to manager, director, managing director, vice president and to partner and/or principal.
Some consultants will focus on one industry and others will work with a wide array of clients from various sectors.
In some cases, after a few years with one consulting company, some consultants may choose to leave the firm
and work for one of their clients. In this situation, the consultant will typically assume a strategic role within the
organization.

Most entry-level positions in consulting are in large firms, and often involve very little responsibility for the first
few months of employment. New employees undergo intense training programs and long hours, and as
work quality increases, associates are given more responsibility. In some firms, an MBA is required to advance to
more senior positions, and many offer tuition reimbursement or assistance for their employees to attend business
school. Typical entry-level titles are as follows and are fairly consistent across industry specializations:
• Analysts/Research Associates: undergraduates typically fill these positions.
• Associates/Senior Associates: MA, MBA, JD, and PhD graduates typically fill these positions.
Points of Entry Into Consulting: Many of the top consulting firms offer internships (typically between the junior and
senior years for undergraduates and between the first and second years for graduate students). Many people
enter the profession through an internship that may convert to a job offer upon completion. Others enter
consulting after establishing their expertise in a chosen field and filling specific gaps for more senior consultants
based on specific consulting contracts.

Relevant Sample Areas of Specialization within Consulting:

• Business Organization and • Development Consulting • Financial Planning, Audit,
Corporate Strategy • Healthcare Risk, and Strategy
• Human Capital Planning • Operations and Logistics • IT Systems Design and
and People Strategy Integration
• Defense, Intelligence and • Energy and Science
Public Safety
What Employers Want: Consultants come from almost all academic majors and share in common several
important skills and qualifications that both large and small consulting firms find desirable including:

• Excellent Written and Oral Communication Skills • An Orientation Towards Working in Teams
• Strong Research, Statistical, and Quantitative • Ability to Analyze and Distill Lots of Information
Skills • Proven Leadership Ability
• Attention to Detail and Deadlines • Ability to Build and Maintain Relationships
• Strong Interpersonal Skills • Well-rounded Life Experience (global travel,
• A High Level of Energy and Enthusiasm cultural exposure, language training, etc.)

In addition, some positions may require more specialized knowledge including, but not limited to:

• Specific Computer and/or IT Skills • A Security Clearance (or ability to get one)
• Foreign Language Proficiency • Experience Living and Working Abroad
• Private Sector Experience • Previous Experience in Leadership Positions
• Finance and Budgeting Experience • Specific Academic or Technical Knowledge

Considering Consulting? Consulting as a career can be very rewarding and intellectually challenging. You will work
hard and continue to develop skills during your time on the job as consulting environments value continued
learning. If you’re considering consulting as a career field, consider attending events sponsored by the Consulting
Academy or conducting an informational interview with a JHU alumnus who is already working in the field. In
addition, you can learn more about the field of consulting by visiting the websites of any of the professional
associations listed below.

Leading Firms
General Consulting Industry Leaders: Leaders in Specialized Consulting:

Boston Consulting Group (BCG) The Advisory Board Company

www.bcg.com www.advisory.com

McKinsey & Company BoozAllenHamilton

www.mckinsey.com www.boozallen.com

Bain & Company Ernst & Young

www.bain.com www.ey.com

Deloitte Consulting, LLP Chemonics International

www.deloitte.com www.chemonics.com

PricewaterhouseCoopers, LLP CEB

www.pwc.com www.cebglobal.com

Professional Associations: Each industry field has at least one (but many times several) professional
associations that serve professionals (including students) in that field. Many provide research on trends,
access to job boards, and options to learn new skills through webinars, annual conferences, and industry
publications (journals, newsletters, etc.).
A Sampling of Professional Associations in the Consulting Industry:

Association of Professional Consultants Association of Management Consulting

American Association of Healthcare Consultants Firms Institute of Management Consultants
International Council of Management Consulting Association for Training and Development
Institutes (ATD)