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MBA in management consulting salary ranges from 4.5 lakh to 1 crore+ per annum in India. I came across these mind-boggling numbers in a random conversation with a friend that led me to dig deeper into management consulting. Who is a management consultant and what is this person doing to earn crores were some of the questions that aroused my curiosity.
Management consulting is a practice done by analysing the position of an organisation, identifying problems and providing solutions to improve business operations and maximise revenue. Consulting can be done for multiple sectors in an organisation like management, finance, marketing, HR, operations, etc. Management consulting mainly focuses on providing advice and assistance to organisations to help them operate more efficiently and effectively.
People also search for: MBA Consultancy Management
Management is required almost in every sector of an organisation. So it is important for a business to hire management consultants for its multiple departments for smooth functioning of the business. Management consultants can specialise in various sectors such as:
Operations Consulting
Human Resources Consulting
Strategy Consulting
Financial Consulting
Every business faces multiple challenges like increasing profits, adapting to new technology, regulation and compliance, etc. In this situation, the role of management consultants comes into play. They use their analytical and business skills to find solutions to these problems.
In simpler terms, management consultants are people with business acumen, experience and skills that they use to find best practices to improve the performance of an organisation. Management consultants work with the senior levels of organsation like managers and leaders to identify challenges and develop solutions.
The responsibilities of a management consultant can vary depending on the specific project and the needs of the client. Given below are some of the responsibilities of a management consultant:
Problem Identification and Analysis
Data Collection and Analysis
Recommendation Development
Client Interaction
Client Education
There are some interesting facts and a few shocking secrets that I discovered recently that I would like to share here. After going through these facts I can tell that along with exceptional benefits there are major drawbacks in this industry. Let's uncover these 5 secrets that not everyone knows about together.
Insane hike percentages: In general management consulting jobs there is a hike of about 25% to 35%. As per reports, the growth of pay is between 35% to 40% consistently for a good 5 to 10 years.
Data analysis on Excel: For analysis data of big companies there is absolutely no need to know any programming language. The analysis is done by these millionaire management consultants in MS Excel only.
Primary steps followed in this job: There are only 2 steps that management consultants follow to get their job done. First is analysing data on MS Excel and second is storytelling through PPTs.
Highest-paying job: As per reports, investment baking is the highest-paying job in the corporate world and management consulting is just below or equal to it.
Disappointing results: Even after working for 18 hours everyday for 6 months, sometimes management consultants do not receive the same outcomes they expect and result in failed projects.
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The job of a management consultant is demanding and rewarding. There are benefits as well as drawbacks of this position offered in organisations. Check out the pros and cons of a management consulting job explained below.
Diverse Experience and Professional Growth: Consultants work on various dynamic projects across industries, gaining exposure to different business challenges. This helps them acquire valuable skills in problem-solving, communication and project management allowing professional growth.
Networking Opportunities: Consultants have the chance to build a vast professional network by interacting with clients, colleagues, and industry leaders. This diverse experience and network open doors for future opportunities.
High Salary: Management consultants often receive competitive salaries and benefits. Additionally, their bonuses and performance-based incentives are also very high.
Impactful Contributions: Management consulting is a professionally rewarding job. Consultants play a crucial role in helping businesses by making a huge impact by overcoming challenges and improving their performance.
Long Working Hours and Challenging Work-Life Balance: Consultants often work long hours, especially during project deadlines. The nature of consulting can lead to unpredictable working hours, making work-life balance challenging.
Frequent Travel: Consultants may need to travel extensively, spending time away from home. This can be exhausting and impact personal life.
High Pressure and Stress: The need to meet client expectations, tight deadlines, and handle complex issues can result in high levels of stress and pressure.
Becoming a management consultant requires a combination of skills, education and experience. Additionally, a management consultant must have a business-driven mindset which allows them to tackle these challenges more effectively. Follow these tips to know how to become a management consultant.
Educational background
Bachelor’s degree: It is beneficial for a person to have a bachelor’s degree in a relevant field like business, management, economics, finance, etc. Many people also have degrees in technical fields like engineering and computer science.
Advanced Degree: Nowadays, having a master's degree or an MBA in management consultancy is given more importance over a bachelor’s degree alone. As the knowledge gained through an advanced degree is more practical and industry-relevant.
Relevant Experience
Internships/Entry-Level Jobs: The business environment is dynamic and requires skills and experience to deal with organisational challenges. One must consider getting an internship or an entry-level job in consulting firms or related industries to make yourself more competitive in the job market.
Develop Key Skills
Management consultants are very skilled in their work. They are very experienced and have various skills that help them analyse problems, find solutions and convey complex ideas clearly to the clients. A management consultant must possess relevant skills like:
Analytical Skills
Communication Skills
Problem-Solving
Project Management
Also read: How to become a management consultant?
The management consultant's salary depends on various factors like company, location, educational qualifications, experience and skill set. Management consultant salary in India is always on the higher side.
The starting salary of a freshly graduated management consultant with experience of 0-1 years is around 6 LPA to 7 LPA.
Management consultants with more than 1 years of experience can earn upto 17 LPA as well.
The average salary of management consultants is 23.4 LPA.
The highest salary of management consultants with 5+ years of experience can go up to 63.3 LPA.
In some cases, management consultants who have a strong educational background and experience in this field can receive a salary package of more than 1 CPA.
The task of consulting is not at all easy. It requires accurate data analysis, comparisons and expertise from the end of a management consultant. The following factors are responsible for a higher salary package of management consultants:
Every business faces challenges so there is a high demand for management consultants in the industry which results in higher pay.
Management consultants are paid highly because of their expertise in solving complex business problems and providing transparent, cost-effective and valuable services to their clients.
They also provide actionable recommendations and strategic insights to their clients to help them gain a competitive advantage.
On an average, a management consultant in India can earn up to 23.4 LPA.
The highest salary of a consultant in India having a strong educational background, experience and expertise in this field goes beyond 1 CPA.
The highest salary of a consultant after 5 years of experience can go up to 63.3 LPA depending on the company, knowledge and skills.
To become a management consultant in India, one must have a bachelor's degree from a recognised university preferably in business, economics, finance, or engineering field. There are no specific requirements to become a consultant but students having an MBA degree could get a competitive advantage and get placed in top companies.
Yes, a management consulting job is one of the highest-paying jobs in India.
Hello
A free MBA can be done online, but with some warning or notice.
Smartly's Quantic School of Business and Technology provides a free MBA for some selected candidates, and it has a selective admission process.
MIT openCourseWare - Sloan School of Management it provides free access to MBA Course materials, but does not provide any degree or certificate.
Free = No degree (unless from Quantic or University of the People)
Employers may not treat these as equivalent to a full MBA
Dear Sonam,
after BAF degree your career option include:-
1. Accountant
2. Tax consultant
3. Auditor
4. Banking and Insurance jobs
more....
Now you become eligible for government jobs also you are align with your stream saying now you can do MBAs if you want to boosts career growth and say remain working in big corporates.
BEST OF LUCK
Thanks
Hello Aspirant,
Yes, you can pursue either an MBA or an MCA after graduation in science.
After completing B Pharmacy students usually choose between M Pharmacy and MBA in Pharmaceutical Management or Healthcare Management Both options are good but your decision should depend on your interest and career goal If you want to work in research quality control drug development or academics then M Pharmacy is the better choice It helps you specialize in subjects like pharmacology pharmaceutics or pharmaceutical analysis and gives you better opportunities in technical and researchbased fields On the other hand if you are interested in business management sales marketing hospital administration or pharmaceutical industry management then MBA in Pharmacy is better This course opens opportunities in pharmaceutical companies healthcare consultancies and management roles Both fields have scope and good salary prospects but your personal interest in technical or managerial roles should guide your decision
Alright, here’s the real talk about MBA colleges if you scored less than 90 in TG ICET 2025.
First off, if your marks are under 90, your rank’s probably somewhere north of 25,000. That’s just ballpark, since it shifts every year depending on how the crowd performs and how tough the paper was. With this score, yeah, the OG biggies like Osmania, Kakatiya, JNTU-H, Aurora’s main campus, and ICFAI are basically out of reach, unless you’ve got a magic wand or some secret backdoor (which, let’s be honest, you don’t).
But hey, don’t freak out. Telangana is packed with a bunch of other MBA colleges that are still pretty solid. Here’s a handful you might wanna check out:
- Vishwa Vishwani Institute of Systems and Management, Hyderabad
- St. Ann’s College for Women, Hyderabad
- Siva Sivani Institute of Management
- CMR College of Engineering & Technology
- Malla Reddy Institute of Management
- Holy Mary Business School
- Lords Institute of Engineering and Technology
- Aurora PG College(the other branches, not the main one)
- Deccan School of Management
A career as Marketing Director is also known as a marketing expert who is responsible for the overall marketing aspect of the company. He or she oversees plans and develops the company's budget. The marketing Director collaborates with the business team to plan and develop the marketing and branding strategies for the company's products or services.
A Business Development Executive identifies and pursues new business opportunities to drive company growth. They generate leads, build client relationships, develop sales strategies, and analyse market trends. Collaborating with internal teams, they aim to meet sales targets. With experience, they can advance to managerial roles, playing a key role in expanding the company’s market presence and revenue.
Content Marketing Specialists are also known as Content Specialists. They are responsible for crafting content, editing and developing it to meet the requirements of digital marketing campaigns. To ensure that the material created is consistent with the overall aims of a digital marketing campaign, content marketing specialists work closely with SEO and digital marketing professionals.
A Sales Manager leads a sales team to meet targets, formulates strategies, analyses performance, and monitors market trends. They typically hold a degree in management or related fields, with an MBA offering added value. The role often demands over 40 hours a week. Strong leadership, planning, and analytical skills are essential for success in this career.
A marketing manager is a person who oversees a company or product marketing. He or she can be in charge of multiple programmes or goods or can be in charge of one product. He or she is enthusiastic, organised, and very diligent in meeting financial constraints. He or she works with other team members to produce advertising campaigns and decides if a new product or service is marketable.
A Marketing manager plans and executes marketing initiatives to create demand for goods and services and increase consumer awareness of them. A marketing manager prevents unauthorised statements and informs the public that the business is doing everything to investigate and fix the line of products. Students can pursue an MBA in Marketing Management courses to become marketing managers.
An SEO Analyst is a web professional who is proficient in the implementation of SEO strategies to target more keywords to improve the reach of the content on search engines. He or she provides support to acquire the goals and success of the client’s campaigns.
Digital marketing is growing, diverse, and is covering a wide variety of career paths. Each job function aids in the development of effective digital marketing strategies and techniques. The aims and objectives of the individuals who opt for a career as a digital marketing executive are similar to those of a marketing professional: to build brand awareness, promote company services or products, and increase conversions. Individuals who opt for a career as Digital Marketing Executives, unlike traditional marketing companies, communicate effectively through suitable technology platforms.
Individuals who opt for a career as a business analyst look at how a company operates. He or she conducts research and analyses data to improve his or her knowledge about the company. This is required so that an individual can suggest the company strategies for improving their operations and processes.
In a business analyst job role a lot of analysis is done, things are learned from past mistakes and the successful strategies are enhanced further. A business analyst goes through real-world data in order to provide the most feasible solutions to an organisation. Students can pursue Business Analytics to become Business Analysts.
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