Consulting is becoming a highly desirable career opportunity. So, what is it? Consulting is the business of giving expert advice to other professionals. Here at Vantage Point – we hire graduates and provide them with the training to become consultants, as we believe that they have the skills to offer their expert advice. Consulting is a highly sought-after career and according to the UK Consulting Industry’s 2016 Statistics Report (MCA), the UK consulting industry is worth £12bn and employs more than 80,000 consultants.
The most successful consultants are comfortable working on their own and being able to lead teams. They often exhibit confidence, in the decisions that they make and in the messages that they deliver – which their client might not want to hear. Further characteristics that clients look for in consultants is the amount of industry experience that they have. At Vantage Point we offer our consultants the opportunity to work in specific industries for up to three years. This allows our gradate consultants to build on their analytical skills and offers them networks and experiences in giving presentations. It also offers the opportunity to work on temporary projects that help to build up skills.
What skills are required from consultants?
Clients hire consultants in order to find solutions to problems and from these, come up with well-reasoned answer.
It is important that consultants have an understanding of capital markets and how the company operates. Having an awareness of competition can help demonstrate your commitment to the industry.
Communication with clients is important in clearly communicating with clients in order to understand their requirements and justify their recommendations. Being clear and concise and ensuring that you provide well-structured answers is important for clients.
Working as part of one or several teams at once can be a requirement of consulting. It means that it is important for the individual to have good problem solving and again highlights the importance of communication and commercial awareness when speaking to different groups of people.
Attention to detail:
One aspect of consulting is presentation and therefore ensuring that you have an eye for detail is a key skill to possess.
So what type of sectors can you expect to work in?
There are a number of different industry sectors where consulting is in demand, for example:
- Financial Service – particularly in banking and insurance
- Healthcare and Pharmaceuticals
- Media and telecommunications
- Natural Resources
- Public Sector
Although consulting is a useful path to go down, the work might mean that you are working outside of conventional 9 – 5 hours, working as a consultant offers you a variety of different roles and means that your profile is constantly developing and expanding.