According to a 2004 survey conducted by Abbot, Langer, and Associates, the median annual total cash compensation for junior consultants was $40,000; for consultants, $61,000; for senior consultants, $80,250; for principal consultants, $107,000; and for senior or executive vice presidents, $235,135.
Facts at a glance
- This industry ranks among the fastest growing through the year 2014; however, job competition should remain keen, with the most educated and experienced workers having the best job prospects.
- This industry is one of the highest paying.
- About 25 percent of all workers are self-employed.
- About 72 percent of workers have a bachelor’s or higher degree; 59 percent of all jobs are in managerial, business, financial, and professional occupations.
Summary of what this career entails
A consultant for a management, scientific or technical firm influence how businesses and organizations make decisions. The field is diverse because there are many types of organizations. If you have expertise in an area, you can get a consulting job in that area. For example, a management counseling firm would give advice on corporate operations such as marketing, finance and corporate strategy. A scientific or technical firm will give advice on the technical aspects of a company like making sure that the company is following regulations, making sure the companies are using its technology properly and helping them with science issues that may arise.
Examples and or details of work
An example of what a consultant might do is help with a company’s website. Many times the people in charge of a company do not know the basics of creating a website or getting people to find it using SEO (Search Engine Optimization) so someone with the expertise can help the business using their skills with computers. Besides websites a consultant can also convince a company to create a page on myspace.com in order to become more mainstream. Helping businesses implement technology properly is a main function of the consultant position.
Degrees that lead to this career
According to the bls.gov website there are not many schools that provide a concentration in management counseling. With that said education in many fields can be used to catapult to a career in consulting. Those fields include marketing, accounting, economics, computer and information sciences, engineering, logistics, and safety. A consultant in a scientific field usually has a master’s or doctorial degree.
Specific Career openings in this field
There are many jobs in the consulting field. Specific careers in the consulting field include top executive, marketing and sales manager, human resources, training, and labor relations specialists, management analysts, accountants, auditors, financial analysts and advisors, computer programmers, computer software engineers, computer support specialists, computer systems analysts, engineers, drafting, engineering and mapping technicians, environmental scientists and specialists, market research analysts, environmental science and protection technicians, designers, and sales representatives services (and wholesale and manufacturing),
Bureau of Labor Statistics, U.S. Department of Labor, Career Guide to Industries, 2006-07 Edition, Management, Scientific, and Technical Consulting Services, on the Internet at http://www.bls.gov/oco/cg/cgs037.htm