Vault.com, a career website has released a list of 2014’s best strategy consulting firms. The ranking was based on a survey among consultants. Participants were asked to rank the consultancies in several areas of business focus. However, to establish fairness, they were allowed to vote for their own firm.

Here are the top 10 Best Strategy Consulting Firms in 2014:

#1: McKinsey & Company

Still claiming the first spot is McKinsey & Company. This privately owned management consulting firm has always been considered to be one of the most prestigious companies in its industry. They have a wide range of specialties – from commodities and natural resources to entertainment and technology. This reputable firm also claims to serve more than 80% of Fortune’s Most Admired Companies list, and majority of the 100 largest U.S. based companies. The firm also funds the McKinsey Global Institute, a research group dedicated to studying economic trends around the world.

#2: The Boston Consulting Group, Inc.

Climbing up a notch is the firm founded by Bruce D. Henderson in 1963 – BCG. It boasts around 5,000 consultants in 78 offices across 43 different countries. According to Forbes Magazine, this world renowned firm ranks as one of America’s Largest Private Companies.

In 1998, they established the Strategy Institute, a research organization that concentrates on the strategic challenges that affect both business and society. Among the most popular concepts developed by BCG are the experience curve, time-based competition, disease management, richness versus reach, trading up and trading down and globality.

#3: Bain & Company

Sliding down to the third spot is last year’s second pick, Bain & Company. This reputable company is known to be one of the Big 3 in consulting, along with McKinsey and BCG. And its chairman, Orit Gadiesh, has been named by Forbes magazine as one of the “The 100 Most Powerful Women in the World” four times.

The firm boasts around 5,400 consultants and claims to work with more than two-thirds of the Global 500, as well as with thousands of esteemed regional and local organizations. They currently operate in 50 offices in 32 countries. They serve a wide range of clients – from economic and industry sector, to healthcare and alternative energy. They also have an ongoing collaboration with The Bridgespan Group, the world’s leading non-profit consultancy established by Bain in 2000.

#4: Booz & Company

Still in fourth spot is the company founded by Edwin Booz in 1914. This reputable firm is one of the oldest consultancies in the world. They are known for their revolutionary ideas and credit itself with concepts such as human capital, product life cycle, supply chain management, and organizational DNA.

Since its founding, Booz has always given heavy emphasis on research. They regularly publish reports as well as a quarterly magazine to help promote their leading research.

#5: Deloitte Consulting LLP

Deloitte Consulting is divided into three service areas: Human Capital, Strategy and Operations, and Technology. They serve clients in many different industries, such as healthcare and life sciences, energy and resources, financial services consumer and industrial products, technology, and telecommunications.

The firm consistently ranks well in the great employer lists, like the Fortune’s annual 100 Best Companies to Work For, Consulting magazine’s Best Firms to Work For, as well as Bloomberg BusinessWeek’s Best Places to Launch a Career.

#6: Accenture

Accenture is primarily recognized as a technology consultant and systems integrator. This global management consulting pioneered systems integration and business integration. Today this renowned technology services and outsourcing company, has more than 266,000 professionals in more than 120 countries.

#7: EY (Ernst & Young) LLP Consulting Practice

Although Ernst & Young grabbed the seventh spot in the best strategy consulting firms, it is important to note that they have no “consulting” department. However, they do have an “advisory” unit, a term they adopted after the $11 billion sale of its original consulting unit to Capgemini.

#8: Oliver Wyman and PwC (PricewaterhouseCoopers) LLP (Consulting Practice)

Tied at number eight are Oliver Wyman and PricewaterhouseCoopers.

Oliver Wyman also offers consulting services to a wide range of industries, such as automotive, aviation, communications, media, financial services, industrial products and services, health, and retail and consumer products. They claim to serve more than 80% of the world’s largest 100 financial institutions as well as numerous Fortune 1000 companies. They are also known to produce reports on the state of various industries. Oliver Wyman also conducts annual research with the World Economic Forum and Marsh & McLennan on global risks.

On the other hand, PricewaterhouseCoopers LLP boasts 72 offices across the US. They claim to serve 81% of the companies on the Fortune 500. Their advisory services focus on management, technology and risk consulting.

#9: IBM Global Business Services

Landing at the ninth spot is IBM GBS. Their practice areas are basically divided into two: business consulting and systems integration, and application management services.

#10: L.E.K. Consulting

Grabbing the last spot on the top 10 best strategy consulting firms is L.E.K Consulting. This reputable company was founded in 1983 and offers five major competences to its clients: strategy, operations and organizational development, shareholder value management, marketing and sales consulting and mergers and acquisitions. They now operate 22 offices across continents. They also maintain a blog called the L.E.K. Advisor, written by current L.E.K. consultants, that tackles information about the company and the consulting profession.

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No matter what industry you’re in, reading is one of the best ways to stay updated, connected and educated. In management consulting, these come in the form of journals, credible online forums and books (to name a few).

With so much information circulating both online and offline, it can be very easy to get carried away with sourcing out the right books or content that you need. It is important to find a relevant and reliable source for your management consulting knowledge. An example of a dependable source is one that consultants frequently mention, reference or comment on (for online reads).

Finding great consulting sources can not only expand your views and knowledge of the industry, but also provide you topics to talk about during networking, or during an interview. Your colleagues and superiors may also find your insight useful in current events that are related to the consulting industry. We have sorted out and carefully selected the best management consulting reads that can help you prepare for your upcoming career.

Perspective on McKinsey

Over the years, McKinsey & Company has published their own set of books that they take pride in. Some of these books they provide for candidates who pass their standards during the interview process, which serves as an introduction during their employment at the top level firm.

One of these books is Perspective on McKinsey by Marvin Bower. The content of the book provides a complete overview of McKinsey, from the company’s history to how the firm is shaping large companies on a global scale. This is a great read for anyone who is serious about breaking into the management consulting industry. You will know how high to set your standards and what type of consultant it takes to perform at painstaking competitive levels. Perspective on McKinsey can be found in Amazon.

Blue Ocean Strategy

Blue Ocean Strategy is a book that was written by W. Chan Kim and Renée Mauborgne of Blue Ocean Institute. The book provides key insights on 150 business strategies over the span of 100 years across 30 popular industries. The general concept that the writers are trying to promote is that instead of going head to head with your competition, move out to open markets; or in most cases, create your own. There are a number of analytics and frameworks to take note of in the book that has helped leading companies add value to their business.

Examples are provided with each framework such as The Six Paths Framework, which is designed to minimize the risks related to expansion and planning. The opposite of the blue ocean (open, uncongested market), is the red ocean, which is a representation of all the markets that are present today. An example of a blue ocean market that is slowly turning into a red ocean market is cloud data and 3D printing. Companies that lead both industries today have provided consumers with an entirely new product that did not exist prior to their release.

The book received loads of criticism from analysts, saying that the book relies heavily on the first-mover advantage theory, disregarding other aspects such as competitive advantage, capabilities and resources. Despite the positive and negative feedback that the book received, there is no arguing that the strategies that are mentioned works, as it is backed up by research and hard data.

The information found in the book is considered to be reliable for those who need in depth information about business frameworks and successful strategies. Because of this, many consultants, especially those who specialize in strategy consulting, consider Blue Ocean Strategy as a great read and tool for creating opportunities for their future clients.

Case In Point

Case in Point, written by Marc P. Cosentino, is a book some, including The Wall Street Journal, consider as the “MBA Bible”. As you might have guessed by the title, the book is all about consulting case interviews. Case in Point serves as a complete guide for case interviews. The book also covers the Ivy Case System, which can help readers formulate answers for highly complex cases. For those who are looking for a book that can also teach application, this is a notable place to start. The book includes 40 strategy cases to work on, which also serves as examples. The strategy cases found in the book can be used for practice during consulting case interviews, as well as MBA programs.

The book does go through revisions, and several editions have already been released. The writer’s insight on the case interview process can remove the dreadful feeling of being overwhelmed by the steps in preparation. Instead, the writer encourages consulting applicants to take on the case interview as a medium to showcase their talents and potential as a qualified candidate for the vacant position.

For those who don’t know Marc P. Cosentino, he is considered to be the top authority for case interview-related topics. He has over 24 years of experience as a coach for applicants who come from prestigious universities and MBA programs. Many high-caliber MBA consulting clubs such as Wharton, Harvard Business School, as well as top consulting firms, regularly purchase the book by bulk for their members and staff.

Case in Point is one of those books that you can’t go wrong in purchasing. If you’re interested in other books that Marc P. Cosentino wrote, you may also wish to look into the following publications: The Harvard Guide to Investment Banking, The Harvard Guide to Consulting and The Harvard Guide to Case Interviews.

The Lords of Strategy: The Secret Intellectual History of the New Corporate World

The Lords of Strategy was written by business journalist, Walter Kiechel. The book highlights the foundation and birth of corporate strategy. This information can give prospective consultants a clear view of the 1960s, where businesses started turning to key variable such as costs, competition and consumers when formulating successful strategies. Perhaps the most valuable insight that the book provides are the revealing accounts of the four individuals who are considered to be the inventors of corporate strategy; namely Bruce Henderson (founder of Boston Consulting Group), Fred Gluck (McKinsey & Company’s Managing Director), Bill Bain (founder of Bain & Company), and Michael Porter of Harvard Business School.

For applicants who keep asking “why” when it comes to formulating consulting strategies for their upcoming interview, The Lords of Strategy can provide the answers they are looking for. The book takes on a straightforward approach at how the corporate world was revolutionized into what it has become today.

Pitch Perfect: How to Say It Right the First Time, Every Time

Pitch Perfect was written by Bill McGowan, a leading advisor for tech companies such as Facebook, Dropbox and Salesforce.com. It deals with communication (both verbal and nonverbal), message delivery and overcoming pitfalls. Because consulting is such a communication driven industry, it is wise to touch up on one’s presentation, delivery and vocabulary skills. Presentations are a large part of a consultant’s career, whether it’s a presentation for an important client, or a presentation for superiors and other colleagues. This skill can set you apart from a consultant who is filled with impressive head knowledge, but lacks communication and presentation skills to back it up.

The book essentially elaborates that being the smartest person in the room can only get you so far. The author’s tips about the Principles of Persuasion are easy to pick up, practice, apply and eventually master. Pitch Perfect not only expounds on saying the right thing, but it also goes above and beyond to provide advice on the right timing as well when it comes to message delivery.

The Goal: A Process of Ongoing Improvement

The Goal has been around for almost 30 years. Business consultant, Dr. Eliyahu M. Goldratt, wrote the book and has been noted as a credible model for systems management. The book highlights the Theory of Constraints and overcoming bottleneck-related problems. Since its 4^th revision, the publication includes several business cases, which highlights strategic capacity planning and the constraints of management.

Unlike other consulting books, this book was written in a story-telling manner. The main character, Alex Rogo, is an owner of a manufacturing plant that is doomed to fail. Eventually, he meets a number of people who teaches him the fundaments of strategy, profitability and productivity. It may not sound appealing to some readers, but this book is being circulated in top level business schools.

If you are looking for a different approach to learning, besides the usual bullet point facts and studies, The Goal may be what you’re looking for. The book not only shines light on concerns related to systems management, but also solutions in addressing key factors that can help minimize the risks that today’s companies are facing on a regular basis.

To conclude, these books are not only a great read, but can also equip consulting applicants with the right skills, knowledge and wisdom in preparing for the recruitment process.

Learn More

Are you looking for a complete management consulting guide for your preparation needs? We offer a top tier management consulting job guide for applicants who are keen on addressing the key issues related to their upcoming consulting interview. The very useful guide highlights how to write an attention-grabbing cover letter and resume, as well as employment preparation exams. The essential skills you need for a successful interview are also featured in the guide. Download your copy today!

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If you are interested in consulting and are currently based in Europe, you might want to know Vault.com’s (a career website) list of the top consultancies to work for Europe for 2014. As usual, the survey only involved consultants who are currently employed at reputable companies in the industry.

The ranking was based on the combined score of a firm’s overall prestige score with other several factors such as satisfaction, firm culture, compensation, work-life balance, overall business outlook, and promotion policies.

Here’s the list of Vault’s top 10 consulting firms in Europe in 2014.

#1: McKinsey & Company Europe

McKinsey & Company remains unshakeable at no.1. This privately owned management consulting firm also grabbed the first spot for the best consultancy to work for last year, making it perhaps the most prestigious company of its kind. With regard to range of those specialties, they serve almost everything from commodities and natural resources to media and technology. The firm also claims to advise roughly 90 of the top 100 corporations worldwide.

McKinsey professionals also produce works of business scholarship. They have the McKinsey Quarterly, their official journal for tackling issues of management, strategy and finance. The world-renowned firm also operates the McKinsey Global Institute, a research group focused on critical economic trends across continents.

#2: Bain & Company Europe

Since it was founded in 1973, Bain remains to be one of the leading consulting firms all over the world. They now have 50 offices in 32 countries. The firm boasts around 5,400 consultants who help global leaders make the big decisions. This esteemed company has worked with more than two-thirds of the Global 500, as well as with hundreds of non-profits and private equity funds.

Bain was also the very first consulting firm to work with private equity firms. Moreover, they are known for doing extensive pro bono and low bono work, particularly for pressing social issues such as global development and education. They work with Endeavor Global, Teach for America, and Students for these matters.

#3: Booz & Company Europe

Moving up a notch is the company founded by Edwin Booz in 1914. This firm is considered one of the oldest consultancies in the world. The company credits itself for coming up with some revolutionary ideas such as the human capital in the 1940s, the product life cycle in the 1950s, supply chain management in the 1980s, smart customization in the 1990s and, the organizational DNA and Capabilities-Driven strategy.

The highly regarded firm also continues to give heavy importance on research. They regularly publish reports, books, quarterly magazine, and even produce podcasted online talk shows on mergers and acquisitions.

#4: Oliver Wyman Europe

Also climbing up a notch in the list of top 10 best consultancies in Europe to work for is Oliver Wyman. This management consulting business has more than 3,000 consultants in over 50 cities spread across 25 countries.

The firm claims to provide consulting services to numerous Global 1000 companies, as well as to many of the world’s largest financial institutions of Fortune 1000 companies. Oliver Wyman also provides pro-bono consulting services for some non-profit organizations.

#5: Roland Berger Strategy Consultants Europe

Falling two spots from the list is the largest consulting firm to have emerged from Europe. This global strategy consulting does the bulk of its business in Europe. They have 26 of their 51 offices worldwide in the said continent.

In Europe, they cover pretty much the most important markets. They provide service not only to the traditional large markets such as France, Germany and the UK, but to mid-sized markets such as Portugal and Turkey, and smaller markets including Baltics and Croatia. This renowned company has also been involved in many landmark projects in Eastern European countries.

#6: OC&C Strategy Consultants Europe

Retaining the sixth spot is the firm founded by Chris Outram in London in 1987. Most of its services still concentrate in Europe. However, they have been trying to build a stronger presence in the U.S. One of the steps they took to acquire greater access to the American market is merging with Boston-based Callidon Group in 2007.

OC&C takes particular pride in its consumer goods expertise. They are known to provide solutions in these three sections: growth stakes, profitability issues and category management.

#7: A.T. Kearney Europe

This company with humble beginnings now has an unquestionable global reach. They now have offices in about 40 countries worldwide, having around 2,300 consultants. They claim to concentrate on what they call “CEO-agenda concerns”. These concerns include merger, growth and IT strategies, supply chain management, innovation and complexity management, as well as enterprise services transformation.

A.T. Kearney also launched its Vision 2020 to colleagues globally in June 2013. One of their visions is to be the “first choice in providing immediate impact and growing advantage for our clients, our people, and the societies in which we live”.

#8: Simon-Kucher & Partners Europe

Bouncing back to the eight spot is the firm founded by marketing expert, Professor Hermann Simon, in Germany in 1985. Its founder is known as a worldwide leader in pricing consulting. The firm claims to help its clients maximize profits by providing them with tools and recommendations for proper product pricing.

They provide services for 8 of the 10 best-selling drugs in the world, as well as for leaders in consumer products, technology and financial services. Aside from pricing, this esteemed company also assists clients with regard to marketing and sales, and in developing corporate strategies.

#9: Frontier Economics Ltd.

Frontier (Europe) was founded in 1999. They currently employ around 124 consultants across its European offices. This microeconomics consultancy provides economic advice to both public and private sectors. They cater a wide range of industries including energy, environment, financial services, healthcare, media, retailing, transport, and many more.

#10: L.E.K. Consulting Europe

The tenth spot goes to a strategy consulting firm founded in London in 1983. They currently operate in 22 offices around the world. In Europe, they claim to have specialty in a number of major industries, such as aerospace and defense, biopharma and life sciences, energy and private equity, retail and consumer products, industrial products and services, media and entertainment, and transport.

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Management consulting firms based in Europe must rely on their knowledge and experience in providing services to a wide range of business concerns in the region. Due to the recent economic developments in the past 5 years, numerous businesses in Europe are looking for strategies to sustain consistent growth.

In these situations, it is either small businesses that fail to get off the ground or large companies that are unable to meet their projections that are deeply affected by the events that have taken place in the European market. Because of this, it is becoming common for businesses to turn to top consulting firms for a change of pace.

To better cater to the needs of struggling businesses in the region, consulting companies have begun hiring experts and leaders from key industries to supplement the demand for their services.

Economic Consulting

Top consulting firms such as McKinsey & Company have seen the European economy transform into what it is today. Not all businesses are affected by the flux of the market, which means that firms must be versatile in providing solutions to an assortment problem, even in specific practices. Economic consulting in Europe deals with complex decision making while applying micro and macroeconomics.

Top 10 Firms for Economic Consulting (Europe)

1. McKinsey & Company Europe
2. NERA Economic Consulting Europe
3. The Boston Consulting Group, Inc. Europe
4. Bain & Company Europe
5. RBB Economics
6. Frontier Economics Ltd.
7. PwC (PricewaterhouseCoopers) International Ltd.
8. Oliver Wyman Europe
9. EY (Ernst & Young) Consulting Practice Europe
10. Oxera

Energy Consulting

Businesses that provide energy-related services are faced with concerns related to technology, government policies, and operations. Consulting firms who specialize in energy apply their knowledge in supply and demand, fuel sourcing, pricing and financing in order to address the problems that many companies in the field have. Furthermore, dealing with strict environmental laws and the media is part of the practice that is highly sensitive and is often a roadblock that requires new perspectives and strategies.

Top 10 Firms for Energy Consulting (Europe)

1. McKinsey & Company Europe
2. The Boston Consulting Group, Inc. Europe
3. Bain & Company Europe
4. Booz & Company Europe
5. Roland Berger Strategy Consultants Europe
6. A.T. Kearney Europe
7. NERA Economic Consulting Europe
8. PwC (PricewaterhouseCoopers) International Ltd.
9. Arthur D. Little Europe
10. Accenture Europe

Financial Consulting

Management consultants practice in providing financial advice to companies with problems in organization, private equity, merger and acquisition, performance, and growth. Due to the monetary risks involved when working with financial companies, consulting firms usually have a team of crisis management experts and advisors readily available to look over their high profile projects and clients.

Top 10 Firms for Financial Consulting (Europe)

1. McKinsey & Company Europe
2. The Boston Consulting Group, Inc. Europe
3. Oliver Wyman Europe
4. Bain & Company Europe
5. PwC (PricewaterhouseCoopers) International Ltd.
6. Deloitte (European Consulting Practice)
7. KPMG (Europe Consulting Practice)
8. EY (Ernst & Young) Consulting Practice Europe
9. Roland Berger Strategy Consultants Europe
10. Booz & Company Europe

Health Care Consulting

The health care industry has always been (and will continue to be) under scrutiny by the public and media. Consumers can easily feel changes in pharmaceutical pricing and delivery systems due to the necessity of health care products. As a result, consulting firms have been rapidly expanding their practice in this area. Medical technology is another aspect of the practice that many large businesses invest in, with hopes to lead the industry through the research and development of new products, while adhering to tight regulations set by the FDA.

Top 10 Firms for Health Care Consulting (Europe)

1. McKinsey & Company Europe
2. The Boston Consulting Group, Inc. Europe
3. Bain & Company Europe
4. IMS Consulting Group Europe
5. ZS Associates Europe
6. Roland Berger Strategy Consultants Europe
7. Booz & Company Europe
8. Deloitte (European Consulting Practice)
9. L.E.K. Consulting Europe
10. PwC (PricewaterhouseCoopers) International Ltd.

Human Resources Consulting

A productive workforce is always behind every successful business. For large companies who have offices and stores spread across the world, mismanagement of staff can lead to losses and scandals. Consulting firms who are experts in human resources deal with the application of recruitment and organizational strategies.

Top 10 Firms for Human Resources Consulting (Europe)

1. Mercer Limited Europe
2. Hay Group Europe
3. Kienbaum Consultants International GmbH
4. Towers Watson Europe
5. McKinsey & Company Europe
6. The Boston Consulting Group, Inc. Europe
7. Aon Hewitt Europe
8. Bain & Company Europe
9. Deloitte (European Consulting Practice)
10. The Hackett Group, Inc. Europe

IT Operations Consulting

In the past 20 years, information technology has progressed into a highly competitive and complex industry. In order to meet the demands of vendors and other businesses that rely on updated products, IT companies have to be as thorough as possible. IT operations is a specific consulting practice that primarily revolves around boosting company performance.

Top 10 Firms for IT Operations Consulting (Europe)

1. Accenture Europe
2. IBM Global Services Europe
3. Capgemini Europe
4. Infosys Consulting Inc. Europe
5. Deloitte (European Consulting Practice)
6. BearingPoint
7. Tata Consultancy Services Europe
8. Atos Origin Europe
9. McKinsey & Company Europe
10. KPMG (Europe Consulting Practice)

IT Strategy Consulting

Information technology faces many challenges in the European market, as most of the services and products being offered are new and territories, uncharted. Leading companies must also make the most of their products by repackaging to various vendors worldwide. IT strategy consulting works with businesses that are looking for innovative ways to implement strategies related to cloud integration, cost reduction and organization.

Top 10 Firms for IT Strategy Consulting (Europe)

1. Accenture Europe
2. IBM Global Services Europe
3. Capgemini Europe
4. McKinsey & Company Europe
5. The Boston Consulting Group, Inc. Europe
6. Infosys Consulting Inc. Europe
7. BearingPoint
8. Deloitte (European Consulting Practice)
9. Gartner, Inc. Europe
10. Atos Origin Europe

Management Consulting

Management consulting in Europe has become in demand due to the state of the general economy (though some regions still continue to prosper). Advice related to mergers and acquisitions, sustainability, risk management and cost reduction have been highly sought after by numerous companies.

Top 10 Firms for Management Consulting (Europe)

1. McKinsey & Company Europe
2. The Boston Consulting Group, Inc. Europe
3. Bain & Company Europe
4. Roland Berger Strategy Consultants Europe
5. Booz & Company Europe
6. Oliver Wyman Europe
7. A.T. Kearney Europe
8. Accenture Europe
9. Deloitte (European Consulting Practice)
10. PwC (PricewaterhouseCoopers) International Ltd.

Operations Consulting

Consulting firms that specialize in operations are interested in boosting the performance of their client’s business. This can be done by implementing new strategies and ideas. This practice also deals with cost effective solutions to increase profitability. Consultants must also provide an effective plan of execution as part of their solution to raising the efficiency levels of the company.

Top 10 Firms for Operations Consulting (Europe)

1. McKinsey & Company Europe
2. Accenture Europe
3. The Boston Consulting Group, Inc. Europe
4. Bain & Company Europe
5. A.T. Kearney Europe
6. Roland Berger Strategy Consultants Europe
7. Booz & Company Europe
8. Deloitte (European Consulting Practice)
9. Porsche Consulting GmbH
10. Capgemini Europe

Retail Consulting

The retail industry is extremely competitive, as large companies struggle to keep up with new trends. Furthermore, consumer behavior has become unpredictable over the years due to online and mobile shopping. As a result, businesses seek the advice of experienced consulting firms in order to make the most out of the big changes in the industry. Retail consulting also deals with product placement, advertising, and CRO (for online strategies).

Top 10 Firms for Retail Consulting (Europe)

1. McKinsey & Company Europe
2. The Boston Consulting Group, Inc. Europe
3. Bain & Company Europe
4. OC&C Strategy Consultants Europe
5. Roland Berger Strategy Consultants Europe
6. Simon-Kucher & Partners Europe
7. Booz & Company Europe
8. Oliver Wyman Europe
9. A.T. Kearney Europe
10. Deloitte (European Consulting Practice)

Strategy Consulting

An effective strategy can set a business apart from its competitors. This form of high-level practice works with business owners and CEOs in brainstorming new plans based on analytics, trends and competition. Consultants are usually brought in to address a number of concerns such as cash flow, returns and expansion. In the European market, precise strategies are required in order for businesses to make the most out of their time and resources. Risk management advisors may also work with consultants to formulate and execute plans in a more predictable manner.

Top 10 Firms for Strategy Consulting (Europe)

1. McKinsey & Company Europe
2. The Boston Consulting Group, Inc. Europe
3. Bain & Company Europe
4. Roland Berger Strategy Consultants Europe
5. Booz & Company Europe
6. Oliver Wyman Europe
7. A.T. Kearney Europe
8. OC&C Strategy Consultants Europe
9. L.E.K. Consulting Europe
10. Arthur D. Little Europe

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Consulting is known to be a prestigious industry. However, when it comes to prestige, not all consultancies are created equal. Vault.com, a career website, has released a list of the most prestigious firms today.

They conducted a survey among consultants wherein the participants were asked to rate prestige of consulting firms on a scale of 1 to 10, with 10 being the highest score. However, to observe fairness, respondents were not permitted to rate their own firm and were only asked to rate those firms with which they are familiar with.

Based on the perceived prestige by consulting professionals, here are the latest rankings of the most prestigious firms for 2014.

#1: McKinsey & Company

Still securing the top spot is the firm founded in 1926 by a CPA and management professor, James O. McKinsey. This privately owned management consulting firm has always been considered to be the most prestigious company in the industry.

The esteemed company was founded to give local companies sound financial and accounting advice. While McKinsey doesn’t really divulge the names of its clients, they claim to advise more than 80% of Fortune’s Most Admired Companies list. They also claim to serve around 90 of the top 100 corporations globally, has served five out of the ten largest foundations in the U.S.

As for the range of expertise, the firm has a diverse list of clients – from commodities and natural resources to media and modern technology.

Aside from providing advice, McKinsey professionals also produce works of business scholarship. They regularly publish reports and studies, and even have their own business journal called McKinsey Quarterly. They even have a blog (Voices on Society), which tackles issues related to global society, featuring commentaries of world experts, and their own consultants.

#2: The Boston Consulting Group, Inc.

Remaining at second place is the firm founded in 1963 by Bruce D. Henderson. BCG now boasts around 5,000 consultants in 78 offices in 43 countries. According to Forbes magazine, this reputable firm ranks as one of America’s Largest Private Companies. They claim to serve numerous clients from the world’s 500 largest companies. Although BCG is known worldwide for helping multinational corporations, they also cater midsized businesses, nonprofit organizations and government agencies.

As expected from a renowned firm, they have a wide range of specialties. However, one of the innovations that the firm is known for is its growth-share matrix.

BCG consultants often come from the best business schools, such as Harvard, INSEAD, Kellogg, Stanford and Wharton. But they also have consultants who don’t have a business background and hold degrees ranging from economics, biochemistry, engineering, psychology, to law.

#3: Bain & Company

Still clinging at the third spot is Bain & Company. Currently they maintain 50 offices in 32 countries. This world renowned consultancy work across numerous economic and industry sectors – from media to healthcare to technology and alternative energy. While the firm keeps their client list confidential, word has leaked about some of its biggest clients, such as Dell, Ford, Charles Schwab, Starbucks, and Del Monte.

Bain also takes pride to be the first consultancy to work with private equity firms. Some of the services they provide for such firms are fund strategy, sector screening and deal generation, portfolio company performance improvement and exit planning.

#4: Booz & Company

The company founded in by Edwin Booz in 1914 grabbed the fourth spot in the most prestigious firms today. This highly regarded firm is one of the oldest consultancies in the world. Originally, it was called The Business Research Service of the lone staffer Booz.

In terms of specialties, they have a wide range of industries – including automotive, consumer, energy and utilities, financial services, health, industrials, media, oil and gas, transportation, retail, and many more.

They are also credited for some of the most revolutionary ideas in the consulting industry, like the concepts of human capital, product life cycle, supply chain management, smart customization, and organizational DNA.

#5: Deloitte Consulting LLP

Claiming the fifth spot is one of the leading tech service providers worldwide – Deloitte Consulting. Industry analysts are consistently impressed by this firm’s portfolio of client support, from advisory services to implementation to operations assistance.

The esteemed organization caters majority of the companies on the Fortune 500. They are also regularly cited in prestigious publications’ lists, such as Consulting Magazine’s Best Firms to Work For, Fortune’s annual 100 Best Companies to Work For, and Bloomberg BusinessWeek’s Best Places to Launch a Career.

#6: Booz Allen Hamilton

Jumping at the sixth spot is the Virginia-based consulting firm. Booz is known to be an indispensable advisor to the US federal government, especially in IT strategy and integration to several agencies.

In its 100 years of existence, this renowned firm has gone through some name changes such as Edwin G. Booz, Business Engineering Service; Edwin G. Booz Surveys; Edwin G. Booz and Fry Surveys; Booz, Fry, Allen & Hamilton; Booz, Allen & Hamilton; and now Booz Allen Hamilton.

#7: PwC (PricewaterhouseCoopers) LLP (Consulting Practice)

Sliding down a notch is PWC LLP. They are headquartered in New York and operate in 72 offices across the US. They also claim to serve 81% of the companies on the Fortune 500.

In terms of advisory services, this reputable organization focuses on management, technology and risk consulting. They also offer forensics services, such as anti-corruption/fraud, forensic investigations, and cyber security.

#8: EY (Ernst & Young) LLP Consulting Practice

Grabbing the eight spot is the U.S. member firm of Ernst & Young Global – Ernst & Young LLP. They boast over 40,000 professionals working with clients in diverse industries, including automotive, banking and capital markets, biotechnology, consumer products, media and entertainment, oil and gas, pharmaceutical, power and utilities, retail and wholesale, and technology and telecommunications.

EY also claim that they don’t “consult”, rather “advises” their client. In fact, there is no such thing as a “consulting” wing at their company. This move to adopt “advisory” instead of “consulting” happened after the sale of its original consulting unit to Capgemini.

#9: IBM Global Business Services

From being twelfth last year, IBM GBS bounces to the ninth spot this year. This huge organization employs more than 100,000 professionals across continents, and is divided into IBM’s consulting, systems integration and applications businesses.

They also maintain the IBM Institute for Business Value, a foundation dedicated to providing strategic insights to help clients realize on new profitable opportunities. Their consultants around the world help in conducting research and analysis across numerous functional disciplines, such as corporate strategy, customer relationship management, financial management, human capital management, and supply chain management.

#10: Accenture

Employing more than 266,000 professionals across 120 countries, Accenture is one of the most prestigious consultancies in the world today. This global management consulting, technology services and outsourcing company, delivers its services in several industry-focused operating groups, including media and technology, financial services, products, health and public service.

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This is a guest post from Timeo-Performance, a Management & HR Consulting firm and a Headhunting / Recruitment specialist which services companies operating in Asia. It was founded five years ago in Singapore by two experienced Management consultants from France. Timeo-Performance is well recognized for its expertise and its high quality of service and delivery. Please visit their website for further details.

This question always comes up while looking for a job. The main point to keep in mind is that an interview has to be prepared and that there are some important steps to follow during and after the meeting.

According to Rob Yeung, British psychologist, business speaker & management author, candidates have to follow the 3 Ps’ rule to be successful in a job interview; “you need to Prepare, you need to Practice and then, on the day, you need to Perform.”

This philosophy is also shared by Laurie Bongert, Recruitment Manager at Timeo-Performance, she shared with us how her most successful candidates consistently nail their job interviews.

#1: Preparation

• Be well prepared: Re-read your CV and know yourself such as your strengths and weaknesses and greatest accomplishments. Don’t hesitate to give some facts or figures to illustrate what you talk about.

• Do your research: Read job description and materials again with strict attention to be aware of all the specific requirements. Learn about the company you are applying for and learn key business information (turnover, number of employees, locations, regional scope), and what is being said and written about the company in the news and media. What is their competitive advantage and how strong is the competition? It can also be useful to find out who your interviewer is by using online business and social networks to learn things like their job title, background and career history which you can use later.

#2: Practice

• Train yourself on your presentation: Who are you and how can you give the best and clearest image of yourself.

• Practice thoroughly and anticipate: Train and rehearse your responses to the typical questions asked during interviews like the ones in the box.

• Anticipate possible areas of concern be ready to confidently and coherently answer the concerns of your interviewer.

#3: Perform

During the interview:

• Do not forget that first impressions count so be on time, come with a professional look, have a firm handshake.

• During the discussion, be yourself and relax, try to remain positive whatever the situation is, smile and maintain eye contact.

• Prove what you say using examples and give as much detail as you can.

• In case you face ‘killer questions’ give the feeling to remain in control, if necessary ask the interviewer to repeat her/his question but do not try to evade it.

• Bring a copy of your CV / resume to give to your interviewer.

• Take notes!

• Ask relevant questions to demonstrate your interest and the reflection you had on the job and the company. It can be about the overall strategy of the company or some clarifications about the role and its specifics. Two to four questions should be enough at this stage of the interview.

Finally, within 24 hours after your interview make sure you send a personal ‘thank you’ to your interviewer for meeting with you and for their time, this will be your last opportunity to show your motivation for joining the company. You can consider it a final sales pitch to underline very briefly why you want the job, how your experience and qualifications will meet the company’s expectations and to emphasize the value you will be adding for the company or the interviewer personally.

Now it’s over to you to follow the advice of the recruiting experts and enhance your performance to nail your next interview!

Find more tips here:

• Job Interview Advice in the Real World Part 1
• Job Interview Advice in the Real World Part 2

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There are many consultancies around the world. However, like any other things, not all of them are created equal. Some are particularly more prestigious and more internationally renowned.

Vault.com, the career website, has put together a list. They released a ranking of the best management consulting firms based on a survey to consultants worldwide. Participants were asked to vote for up to three firms in several areas of business focus. But to establish fairness, they could not vote for their own firm.

The practice areas involved defense, economic, energy, financial, health care, IT operations, IT strategy, human resources, management, operations, public sector, retail, and strategy consulting.

Most of the consulting firms in the current list have been included in the previous year’s list, though their rankings have slightly changed. The best management consulting firms of 2013 are:

#1: McKinsey & Company

The American global management consulting firm stays on top as they got 72.73% of the votes. McKinsey & Company, which established in 1926, operates 104 offices in 60 different countries. McKinsey is considered one of the “Big Three” in management consulting services to the Fortune 500 set. The other two are Bain & Company and The Boston Consulting Group.

They are known for their investment on knowledge management system to support their field consultants. McKinsey Knowledge Centre (McKC) provides access to specialized expertise and business information. McKinsey specializes in business information, recruitment, and problem solving for senior management issues.

As of September 2013, this organization receives 225,000 job applications annually. And only about one percent of these are successful. McKinsey is voted No. 1 consulting firm in the world. And for a reason, they probably set the toughest selection criteria. They are known to consistently recruit from elite colleges, professional schools, and graduate schools.

#2: The Boston Consulting Group, Inc.

From being third last year, The Boston Consulting Group (BCG), climb a notch on the list. The global management consulting firm, which was founded in 1963, scored 59.96% in the survey.

BCG operates 78 offices in 43 different countries. They advise clients in the private, public, and non-profit sectors across the globe. Fortune Magazine ranked them second as well in its 2011 and 2012 lists of the “top 100 best companies to work for”. However, the 2013 rankings by Fortune put them at the fourth spot.

BCG has also been consistently listed in Consulting Magazine’s “Best Firms to Work For” list since 2001.
Like any top-tier firms, BCG’s recruiting process is known to be notoriously demanding. In fact, career review site Glassdoor ranked them as the 3rd most difficult company to have an interview with.

#3: Bain & Company

Moving down by a notch is Bain & Company. The global management firm headquartered in Boston, received 58.40% total score. Since it was founded in 1973, Bain remains to be one of the world’s leading consulting firms. They now have 50 offices in 32 different countries.

The firm is known to provide consulting services to many of the world’s biggest businesses and nonprofit organizations.

In a Financial Times interview, Bain partner Bill Neuenfeldt, disclosed the qualities they are looking for in potential hires, which are “intelligence, integrity, passion and the ambition to make a difference.”

#4: Deloitte Consulting LLP

Also climbing up a notch this year is Deloitte Consulting LLP. Deloitte Consulting, which accumulated 19.20% in the survey, is a globally recognized, professional services organization. It was incorporated in 1996 and operates as a subsidiary of Deloitte Touche Tohmatsu.

Deloitte consulting specializes in human resources, information technology services, outsourcing, health policy and regulatory reform, and strategy and operations.

They serve clients across different industries such as aviation, consumer products and services, energy, financial services, health care, technology, and even government agencies.

#5: Accenture

Initially called Andersen Consulting, Accenture plc also moves up a notch this year as it scored 14.09%. This multinational management consulting, technology services and outsourcing company, is the world’s largest consulting firm as measured by revenues. They have offices and operations in more than 200 cities in 56 different countries.
When their consultants are not working with companies to improve their performance, they can write reports to be published by the Accenture Institute for High Performance. Many of their published papers appear in international newspapers, like the Financial Times, Harvard Business Review and The New York Times.

#6: Booz & Company

Plunging from fourth to sixth is Booz & Company. The global management consulting firm, which was founded in 1914, is one of the oldest consultancies in the world. By the end of the 1950s, the firm was dubbed as “the world’s largest, most prestigious management consulting firm” by the Time Magazine.

Booz & Company has had notable engagements throughout its years, such as the contract system for Hollywood movies, concepts of supply chain management, product life cycle, and the Organizational DNA concept. The National and American football leagues merger, HP-Compaq merger, as well as the redemption of the Chrysler Corporation from bankruptcy, all involved Booz & Company.

#7: PwC (PricewaterhouseCoopers) LLP (Consulting Practice)

PricewaterhouseCoopers LLP operates 72 offices across the United States. The company serves 81% of the companies on the Fortune 500. They provide auditing services as well consulting. For the second year in a row, they were recognized by the Association of Management Consulting Firms for “value and excellence in consulting.”

#8: EY (Ernst & Young) LLP Consulting Practice

Ernst & Young LLP is the U.S. member firm of Ernst & Young Global. EY doesn’t really have a “consulting” department. However, they have an “advisory” unit. EY used this term following the $11 billion sale of its original consulting unit to Capgemini in 2000.

#9: KPMG LLP (Consulting Practice)

KPMG LLP advisory services are divided into three distinct groups: management consulting, transactions and restructuring, and risk and compliance. In terms of their management consulting services, they currently have 14 service lines for clients. And some of the recently added ones reflect the changing business priorities in today’s digital age.

#10: IBM Global Business Services

Also included in the top 10 list of 2013’s best management consulting firms is IBM Global Business Services (GBS). The organization has consulting, systems integration and applications businesses groups. They employ more than 100,000 professionals across the Americas, Europe, Middle East, Africa and Asia Pacific.

Reference

• Best Management Consulting Firms
• McKinsey About Us
• McKinsey on Wikipedia
• Deloitte on Hoovers

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In order to effectively meet the demands of rapidly growing businesses, management consulting firms have begun to specialize their services.

Consulting practices are becoming more varied due to demand in specialization. These practices are composed of knowledge in staple industries such as health care and finance, as well as major departments found within a company including human resources and operations.

The Asia-Pacific region has played a key role in the global market. Large companies in this area have been supporting leading businesses in the fields of manufacturing, outsourcing and technology (just to name a few).

Economic Consulting

Economic consulting uses advanced data in the various fields of economics (applied, mathematical and analytical) to determine solutions for company performance. Advice rendered from top consulting firms can be applied in a number of sectors and business-related concerns.

Top 10 Firms for Economic Consulting (Asia-Pacific)

1. McKinsey & Company Asia
2. The Boston Consulting Group, Inc. Asia
3. Bain & Company Asia, NERA Economic Consulting Asia
4. KPMG (Asia Consulting Practice)
5. EY (Ernst & Young) Consulting Practice Asia, PwC (PricewaterhouseCoopers) Asia (Consulting)
6. Booz & Company Asia
7. Deloitte (Asia Consulting Practice)
8. Nomura Research Institute Ltd. Asia
9. Mercer Limited Asia
10. A.T. Kearney Asia-Pacific, Oliver Wyman Asia

Energy Consulting

Competitive firms that specialize in energy consulting deal with information related to electrical and natural power. Such firms provide guidance in making energy more affordable, efficient and sustainable. This may also be related to technological and environmental advancements.

Top 10 Firms for Energy Consulting (Asia-Pacific)

1. McKinsey & Company Asia
2. The Boston Consulting Group, Inc. Asia
3. Bain & Company Asia
4. Accenture Asia
5. Roland Berger Strategy Consultants Asia
6. Deloitte (Asia Consulting Practice)
7. Booz & Company Asia
8. A.T. Kearney Asia-Pacific
9. KPMG (Asia Consulting Practice)
10. Arthur D. Little Asia, EY (Ernst & Young) Consulting Practice Asia

Financial Consulting

One of the most sought after services of today’s leading firms is in the financial field. This practice is very broad, which ranges from cost reduction to risk assessment. It is common for financial-related advice to go hand in hand with the other branches of consulting practices. Insurance and banking sectors are areas where majority of a consulting firm’s clients come from (financial consulting).

Top 10 Firms for Financial Consulting (Asia-Pacific)

1. McKinsey & Company Asia
2. The Boston Consulting Group, Inc. Asia
3. Bain & Company Asia
4. Oliver Wyman Asia
5. KPMG (Asia Consulting Practice)
6. Deloitte (Asia Consulting Practice)
7. PwC (PricewaterhouseCoopers) Asia (Consulting)
8. EY (Ernst & Young) Consulting Practice Asia
9. Booz & Company Asia, Nomura Research Institute Ltd. Asia
10. Accenture Asia, Mercer Limited Asia

Health Care Consulting

The unpredictable market that healthcare companies face requires the services of high-level consulting firms in order to stay sustainable in the industry. Unlike financial consulting, healthcare practice primarily revolves around medical technology, pharmaceuticals and health services. A complex and somewhat controversial aspect of healthcare consulting deals with changing government policies and consumer demand.

Top 10 Firms for Health Care Consulting (Asia-Pacific)

1. McKinsey & Company Asia
2. The Boston Consulting Group, Inc. Asia
3. Bain & Company Asia
4. IMS Consulting Group Asia
5. Booz & Company Asia
6. Accenture Asia
7. L.E.K. Consulting Asia
8. Deloitte (Asia Consulting Practice)
9. Oliver Wyman Asia
10. PwC (PricewaterhouseCoopers) Asia (Consulting)

Human Resources Consulting

Firms who are leading the $18.4 billion human resources consulting industry provide services in the scope of human resources strategies, operations, implementation of processes and client relations. The fields usually associated with human resources consulting are communication, recruitment process outsourcing, and human capital.

Top 10 Firms for Human Resources Consulting (Asia-Pacific)

1. Mercer Limited Asia
2. Hay Group Asia
3. Aon Hewitt Asia
4. Towers Watson Asia
5. McKinsey & Company Asia
6. The Boston Consulting Group, Inc. Asia
7. Deloitte (Asia Consulting Practice)
8. Bain & Company Asia
9. Accenture Asia
10. EY (Ernst & Young) Consulting Practice Asia

IT Operations Consulting

IT operations consulting deals with providing strategies for IT companies who are looking for innovative ways to project their services to their clients. An essential aspect, which major consulting firms that devote their practice in this field, is the repackaging of each process as it is distributed to various vendors. As a result, IT operations consultants take important factors into consideration such as planning, verification, design and policies during such projects.

Top 10 Firms for IT Operations Consulting (Asia-Pacific)

1. Accenture Asia
2. IBM Global Services Asia
3. Infosys Consulting Inc. Asia
4. Deloitte (Asia Consulting Practice)
5. Tata Consultancy Services Asia
6. Capgemini Asia
7. HP Services Asia
8. Oracle Consulting Asia, Wipro Consulting Services Asia
9. McKinsey & Company Asia
10. A.T. Kearney Asia-Pacific, KPMG (Asia Consulting Practice)

IT Strategy Consulting

The IT industry has been experiencing exponential growth in the past decade due to recent advancements in cloud storage and affordable consumer products. Consulting firms that provide advice related to IT strategy addresses the key concerns in the IT sector, including cost reduction, cloud integration, IT assessment, pricing models and portfolio management. The main objective of consultants who practice in this field is for companies to standout in the highly competitive and crowded market.

Top 10 Firms for IT Strategy Consulting (Asia-Pacific)

1. Accenture Asia
2. IBM Global Services Asia
3. Deloitte (Asia Consulting Practice)
4. Capgemini Asia
5. Infosys Consulting Inc. Asia
6. McKinsey & Company Asia
7. Oracle Consulting Asia
8. Tata Consultancy Services Asia, The Boston Consulting Group, Inc. Asia
9. A.T. Kearney Asia-Pacific
10. PwC (PricewaterhouseCoopers) Asia (Consulting)

Management Consulting

For top level firms, management consulting is composed of the practice of rendering advice for companies along the lines of organization, improvement and development. This involves the analysis of compiled data in order to arrive at a low-risk solution for managerial concerns. From this field, it is common for the advice rendered to be applicable to other consulting practices.

Top 10 Firms for Management Consulting (Asia-Pacific)

1. McKinsey & Company Asia
2. The Boston Consulting Group, Inc. Asia
3. Bain & Company Asia
4. Booz & Company Asia
5. A.T. Kearney Asia-Pacific
6. Accenture Asia
7. Deloitte (Asia Consulting Practice)
8. Oliver Wyman Asia
9. KPMG (Asia Consulting Practice)
10. EY (Ernst & Young) Consulting Practice Asia

Operations Consulting

Firms that equip companies with advice on best practices related to operations acknowledge its links to the overall functionality of the business. Because of this, operation consulting practices deal with the design of new processes, supply chains and service, as well as product development. Consultants, who provide new flows or processes, more often than not also oversee the implementation for sustainability purposes.

Top 10 Firms for Operations Consulting (Asia-Pacific)

1. McKinsey & Company Asia
2. Accenture Asia
3. A.T. Kearney Asia-Pacific
4. The Boston Consulting Group, Inc. Asia
5. Deloitte (Asia Consulting Practice)
6. Bain & Company Asia
7. Booz & Company Asia
8. IBM Global Services Asia
9. PwC (PricewaterhouseCoopers) Asia (Consulting)
10. KPMG (Asia Consulting Practice)

Retail Consulting

The retail industry is an unpredictable market with high risks due to shifting overnight trends and platforms. Consulting experts who monitor this field analyze consumer behavior, product repackaging and marketing. Over the years, online strategies have been a major concern of today’s leading retailers. As a result, consulting firms extend their knowledge in the growing online market as a potential hub for sales for competitive companies.

Top 10 Firms for Retail Consulting (Asia-Pacific)

1. McKinsey & Company Asia
2. The Boston Consulting Group, Inc. Asia
3. Bain & Company Asia
4. A.T. Kearney Asia-Pacific
5. OC&C Strategy Consultants Asia
6. Booz & Company Asia
7. Accenture Asia
8. Deloitte (Asia Consulting Practice)
9. Roland Berger Strategy Consultants Asia
10. PwC (PricewaterhouseCoopers) Asia (Consulting)

Strategy Consulting

Behind every successful business is an effective strategy. In today’s market, firms have their hands full when it comes to strategy consulting. This consulting specialization provides businesses with risk assessments, in depth data analysis presentations, cost reduction advice and assistance in making key choices. Similar to operations consulting, this type of practice also comes with the implementing the chosen strategy for positive results.

Top 10 Firms for Strategy Consulting (Asia-Pacific)

1. McKinsey & Company Asia
2. The Boston Consulting Group, Inc. Asia
3. Bain & Company Asia
4. Booz & Company Asia
5. A.T. Kearney Asia-Pacific
6. Oliver Wyman Asia, Roland Berger Strategy Consultants Asia
7. Deloitte (Asia Consulting Practice)
8. Accenture Asia
9. KPMG (Asia Consulting Practice), L.E.K. Consulting Asia
10. EY (Ernst & Young) Consulting Practice Asia

Consulting Firms in the Asia-Pacific Region

The emerging Asia-Pacific economy has brought more and more consulting firms into the region, as leading businesses actively expand their services. Companies who rely on the expertise of consultants can benefit from competitive strategies and consistent growth. Because of this, we may continue to see the relationship between both parties (Asia-Pacific companies and consulting firms) flourish in the years to come.

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Soft skills are very important when evaluating likability or fit for a certain job. Unlike hard skills, which are about relevant skill set or particular abilities to carry out certain type of tasks, soft skills relate to one’s ability to interact effectively with people.

In consulting, it is extremely important to develop the following soft skills:

Charismatic and Sociable

Consultants need to interact with different types of people on a regular basis. That’s why being charming and likable will definitely do wonders for your career as a consultant. How people perceive you will have a direct effect on your consulting career. Apparently, if your clients perceive you as personable it will be easier for them to trust you. Also, if your team members find you approachable, it will be much easier to collaborate and achieve your goals. However, being highly sociable must not be confused with cockiness.

Strong Work Ethic

This skill is a major requirement perhaps for any kind of job. In consulting, it is imperative that you display this characteristic every single time. As you will be working with big, reputable companies as well as influential and intelligent people, it is only fit that you show professionalism. Also, strong work ethic means being willing to go the extra mile to help a client achieve its goals. Good consultants are ready to go beyond the call of duty just to get the job done.

Positive Attitude

Having a positive attitude towards work, and perhaps towards everything, would be beneficial to your career as a consultant. Go-getters are very much attractive to top firms. As a consultant you should be able to help improve employee morale or motivate team members. And you can only achieve this if you display a positive attitude. Even if you are not naturally bubbly and tend to be more low-key, there are many ways to exhibit positive energy, like always smiling or perhaps simply saying a few encouraging lines or giving compliments.

Oral and Written Communication Skills

The ability to communicate your ideas clearly is perhaps one of the most important skills you need as a consultant. You see, the main product that you are selling is your ideas or insights. And in order for your client to buy this idea from you, you need to let them know exactly what it is. You need to be able to express your thoughts in the simplest and clearest manner. Most tension and stressed are due to inability to communicate clearly. So it is extremely helpful if you have a way with words. That’s why excellent communicators generally do well in consulting.

Ability to Listen

Good consultants are good listeners. Why? Because listening takes more than hearing what the other person is saying, it requires understanding. You won’t be able to help any organization deal with their problem if you don’t fully understand what their needs and goals are. Many people tend to listen passively. If you want to succeed in consulting, effectively listening skill is a must have. This means being able to know what and when to ask questions and when to be quiet and simply listen to every word. Good communication is not just about expressing yourself, it is also about engaging and understanding the other party.

Leadership

Consultants are expected to have strong leadership skills. They are generally achievers and socially involved. While many say that some are born leaders, this skill can be developed. As a consultant you will manage different types of people so you need to possess the ability to lead and manage effectively. Remember, the mark of a true leader is not about the position held, it’s about taking responsibility and influencing your team towards achieving a common goal. Lead by example – motivate and show initiative.

Teamwork / Team Building

Consulting is not a job for someone who doesn’t want to collaborate with people on a daily basis. Yes, you need to have strong leadership skills to be a good consultant, but you also need to have a teamwork mindset. It’s not just about you making the big decisions. You must learn to acknowledge other people’s expertise and make time to help those people who are working with you on your project.

Conflict Resolution

As client and team interaction would be an integral part of your life as a consultant, it is important that you know how to resolve conflicts within the team and even more prevent them from happening. In fact, it is a vital trait for any leadership role. This skill is key to the longevity of any relationship. Conflicts generally arise from differing needs, ideas, values or opinions. When handled in a respectful manner, conflict may provide an opportunity to strengthen the bond between parties. Be patient and recognize the ways to come to a compromise.

Time Management

Many people tend to struggle in terms of managing their time, tasks and responsibilities effectively. As a consultant, you may need to juggle around multiple clients at certain times. With that, it is really important that you have efficient time management skill. Learn how to set priorities and stick to your schedule.

Self-confidence

As a consultant, you would be making big decisions and you should not be afraid to make them. You must then have confidence in your knowledge and skills. If you don’t seem look pretty confident, you won’t earn the trust of your clients, colleagues and team members. Speak, dress and act with confidence.

Work under Pressure

Every work has a deadline to meet. And you need to be pretty good at working under pressure in order to hit challenging deadlines in consulting. You must learn the art of achieving maximum results in a short amount of time. In order to do this you need to stay focused.

Persuading, Influencing and Negotiating Skills

Consultants also need to master the art of persuasion. It will be part of your daily consulting life to influence and negotiate with other people, particularly with your clients and team members. This is actually a primary skill for anyone in the business field. Influencing people in a positive way will greatly help an organization achieve its goals. However, this must not involve coercion in any form. Rather, it’s about acknowledging other opinions but being able to change their minds.

Adaptability

To succeed in the consulting world, you need to have a passion for constant learning. You should also have the ability to stretch your skills in order to adapt to the ever changing needs of your clients.

References

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There are many ways to boost an individual’s consulting career. Whether you’re new to the industry or looking for opportunities, a consulting network can easily point you in the right direction.

Many individuals have a misconception about how to build and sustain a solid network within the consulting industry. It doesn’t have to be difficult. Nowadays, there are several tried and tested techniques that can be applied to seamlessly fit professional relationships into a busy schedule.

Maximizing Your Resources

Starting a network from scratch is a daunting task if you don’t know where to begin. The truth is, you don’t have to look very far to get started. Before we get into effective consulting networking tactics, make sure you have your cover letter and resume ready. Depending on the type of event or gathering, it is best to have a hard and digital copy available to avoid idle gaps in conversations.

Don’t forget to make sure your business card is updated with the right contact information. Because you will be speaking to numerous individuals at an event or gathering, have a basic conversation structure handy. Though you may not always need to follow it, this can eliminate stray topics, which can lessen your professional impact.

Students

For students, great places to make the right connections that may be useful in the consulting industry are organizations and clubs. Most people who join business or social clubs are also out to meet people and build their network. This means that everyone starts off with a clean slate. Making an impression is relatively simple, as the members are open to new comers such as yourself.

Not just any organization will do. It is recommended to check the background of your target firm and make a list of student clubs that many of the consultants in the company were a part of. From there, make it clear that your chosen career path is management consulting to the members of the organization. This will help individuals associate your name with your goals and path.

Joining the right groups can increase the likelihood of meeting alumni who moved on to become management consultants. Speaking to such individuals in the setting of an organization gives students an upper hand, as most alumni are willing to help out individuals who come from the same university.

Professionals

Professionals may not have access to student clubs and groups. In this case, one should first look into his or her circle of friends. Are any of them consultants? Or are they friends with or work with clients in the consulting sector? Once you’ve explained to your friend that you are keen on extending your consulting network for a future career change, chances are he or she will bring you along to social gatherings, meet ups, or casual drinks.

Compared to student organizations and clubs, meeting individuals in this manner is more difficult, as they are not as open to simply talking about the latest news in the consulting industry to a stranger. If you’re meeting a group of consultants who are having drinks after a long grind at the office, the last thing they may want to talk about is work. The best thing to do in this situation is be patient and go with the flow. Have striking conversations, and be sincere about building relationships. In situations like these, you will only be talking about consulting 5-10% of the time.

The key is to make it clear that you are interested in the consulting industry and you have skills that can be useful to top level firms. If the person you are speaking to is interested, they will probe further. If not immediately, in the future when the need arises.

If you are not directly or closely connected to a friend who is a management consultant, the next best places to consider are consulting seminars and expos. Look for listings where the guest speaker is a senior consultant. Most people who are in attendance during these events are related to the consulting sector. This could be consulting clients, or other perspective consultants and professionals. Approaching people in this setting is straightforward, as most events allot time for individuals to go around and meet people.

Sustaining Professional Relationships

Meeting the right people is only a small part of the networking equation. One must also nurture the new connection before being able to openly talk about insider tips and possible consulting job openings.

With a long term perspective, the essential part of the networking process is building trust. This can be done by first being reliable. Setup a casual lunch and show up on time. Don’t send a delayed or late reply to an email or SMS. You don’t have to necessarily do huge favors or tasks for people to increase trust.  Send invites out to your newly acquired network on a consistent basis.

Another aspect of sustaining business relationships is increasing your personal value. Individuals also want to feel that you are a great addition to their consulting network. Therefore, it is also equally important to introduce your network to other professionals who you are close to.

Online Resources

Using online resources to establish a consulting network should not be overlooked. Reaching out to people who you were once in contact with doesn’t have to be an inconvenience. More importantly, making new connections in the consulting industry can be done anytime, in just a few clicks.

When it comes to social media, LinkedIn is one of the best platforms for professional networking. There is no need to beat around the bush, as people and companies who use LinkedIn are there for career or business-related reasons.

Online groups are one of the best ways to get plugged into the consulting industry. Similar to students who are looking for the right organizations to join, it is recommended to first look into which online groups the employees of your target firm are parts of. After joining the relevant groups, it is essential to participate and become active as a rightful member.

This can be done by asking questions, adding insightful comments, and posting engaging content. In the online world, this is an effective way to build trust. Online groups are also a great place to get invites to consulting events, where you can extend your network offline.

This same technique can be applied across other social media platforms such as Facebook and LinkedIn. However, one should not only be limited to these platforms. Online forums are also very effective in adding new individuals to your consulting network.

Engaging hash tag conversations in Twitter also applies the same concept in building a consulting network online. An indirect way of using Twitter while networking is by using the updates from your target firm’s tweets as conversation starters.

Making Your Consulting Network Work for You

Once you have gathered momentum, things should start falling into place. A few months before consulting recruitment season, begin to inquire about possible job openings from individuals in your network. Ideally, you should aim for setting up meetings with partners, or seniors to better present yourself as a possible candidate for the vacant position.

Unfortunately, this does not happen all the time due to time constraints, especially for consultants who have their hands full with ongoing projects. If you are unable to secure a direct meeting with consultants who are in a position to consider you for an upcoming job post, don’t worry. You can also ask your connection for a personal email address to send your cover letter and resume. This is a very effective way to make sure your credentials don’t get lost in the inbox of a recruiter.

Lastly, you should also mention who referred you for the consulting position in the introductory email. A direct recommendation is very powerful in bypassing the usual shortlisting process. Even if you have to go through the consulting interview, having a personal recommendation from a relevant member of the firm can ease the stress and tension often associated with recruitment. Don’t forget to send out “thank you” emails or messages to the individual in your consulting network gave you the tip or “put in a good word” for you.

Be Persistent

The key to effectively building a consulting network is by being persistent in the expansion process. Networking isn’t limited to the time you allot for it. For example, if you’re having a work-related meeting with new clients, see to it that you collect their contact information, even if they don’t sign on with the company. Don’t be scared to seize the opportunity to promote yourself in unlikely situations.

To conclude, boosting one’s consulting network is not a one-time ordeal. It is a continuous, ongoing and repetitive process. Because of the useful tools available to today’s professionals, there is no excuse in having a poorly managed network. Staying updated in the latest “go-to” places and online groups for individuals in the consulting industry is an effective way to ensure that you’re adding quality individuals who can enhance your consulting connections.

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