Management consultancy
Consultancy is an exciting career path that spans various industries and contexts. From strategy and operations to specialised areas like technology, supply chain, finance, and HR, consultants play a crucial role in enhancing business performance.
Regardless of your degree background, management consultancy offers opportunities to identify challenges, provide expert advice, and drive growth for organisations.
What does a consultant do? Includes podcast
As a consultant, your role involves helping organisations address challenges, create value, and maximise profitability through strategic management.
You’ll enhance business processes, identify growth opportunities, and work across various specialists. Consulting offers ample networking opportunities and allows you to engage in diverse projects, such as implementing IT systems, optimising supply chains, reducing staff turnover, and shaping strategic directions.
You could be analysing statistics, conducting market research to gain a better understanding of the business or implementing new procedures.
What does the future look like for consultancy?
Who employs management consultants?
When considering potential employers, take some time to research the various types of consultancy available. While "management consultancy" is a broad term, you might find that you are more suited to a specialised area such as human resources (HR), digital technology or supply chain management.
Consultants typically work in one of the following settings:
- Large Consultancy Firms: These firms offer comprehensive, end-to-end solutions to their clients. Examples include Accenture, Oliver Wyman, AT Kearney, and McKinsey. The Big Four professional services firms (Deloitte, EY, KPMG, and PwC) also have management consulting divisions.
- Mid-Sized Boutique or Niche Firms: These firms provide specialised services and expertise, often focusing on a specific function such as finance, HR, digital technology, marketing, or sustainability. They may also concentrate on a particular industry sector or client type, such as the public sector, manufacturing, or education.
- In-House Consulting Divisions: Many large corporations have their own internal consulting teams. Notable examples include Google, IBM, and Citibank.
What roles are available within management consultancy?
For more detailed information and an overview of the roles and responsibilities, check the management consultancy profiles on the Prospects website and TARGETJobs consultancy pages.
The typical graduate entry role is an analyst or business analyst. In this position, you will work within a team on various projects to develop your professional skills.
Specialised consultancy areas include:
- Strategy Consultant: Provides strategic advice to companies on projects such as market entry, long-range planning, and rationalisation of goods and services.
- Risk Management Consultant: Provides strategies for identifying, assessing, and mitigating risks that could impact business operations.
- Economic Consultant: Uses economic analysis techniques to help businesses, regulators, and policymakers evaluate and implement strategic decisions. See our Economist career path webpage
- Financial Consultant: Offers financial advice, including the implementation of budgetary control systems, profit planning, and capital and revenue budgeting. See our Accounting and Finance career path webpage.
- Human Resource Consultant: Provides specialist HR advice on areas such as organisational restructuring talent management, and reward strategies. See our Human Resource career path webpage.
- Change Management Consultant: Specialises in helping organisations navigate and manage change, from strategic transitions to new technology implementations.
- Healthcare Consultant: Advises public and private healthcare companies, pharmaceutical organisations, government bodies, and international organisations on their business plans, strategies, and policies.
- Digital Technology Consultant: Helps organisations leverage digital technologies to improve processes, enhance customer experiences, and drive business growth. This includes advising on digital transformation, IT strategy, and the implementation of new technologies, including AI. See our Artificial Intelligence career path webpage.
- Data Analytics Consultant: Utilises data analysis techniques to help businesses make informed decisions and improve operational efficiency. See our Data Science and analysis career path webpage.
- Sustainability Consultant: Provides expert advice on how businesses can operate sustainably and reduce their environmental impact. This includes developing strategies for energy efficiency, waste reduction, sustainable sourcing, and compliance with environmental regulations.
Hear from Arts graduates working in technology-related careers
Hear from four arts graduates, two of whom are now tech consultants, on what advice they have for getting into these roles.
Speakers:
- Richard Debrah, business and economy of contemporary Chinese (with a year abroad) graduate - Consultant (technology industry specialising in digital transformation)
- Josh James, history with contemporary Chinese studies graduate - Immersive Tech Innovation Consultant at Accenture
- Lily Glasson, English graduate - Client Principal at synergy
- Babajide (Babs) Sotande, philosophy graduate - Senior Manager, Global Programmatic Innovation at Peters
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- Alumni: Email us to gain access to the webinar
What are the entry routes into management consultancy?
Qualifications
Consultancy roles are open to graduates from any degree background, although having a degree in a numerical or analytical field can be advantageous. Typically, a minimum of a 2:1 degree grade is required for entry into a graduate scheme. You don't need a postgraduate degree for a career in consultancy, however it can be useful to the work. There are a range of Masters courses relevant to management consultancy, the most known is the MBA. CMI and MCA offer training and qualifications also.
Entry routes and recruitment process
For larger consultancies, professional services firms, and corporate employers, entry is usually through a structured graduate training scheme. Application deadlines can be as early as October or November for opportunities starting the following summer or autumn. Some employers open applications as early as July or August, with deadlines in December. Applications are often accepted on a rolling basis, meaning vacancies may be filled before the deadline, so it’s best to apply as early as possible.
Smaller employers, such as boutique consultancies, may recruit as needed. Networking can be particularly valuable in these cases. Working for a smaller consultancy can offer faster responsibility and a variety of interesting projects.
We organise a Management, Consulting, and Finance Careers Fair each autumn term. This is a great opportunity to speak to employers face-to-face from your first year onwards.
Many employers in this field welcome applicants with degrees in business studies, finance, maths, and science, but they are also open to other degree disciplines.
Find out about our recruitment fairs including the employers attending
Getting experience
Entry into management consultancy is highly competitive, so relevant work experience is beneficial. You can apply for Insight or Spring weeks during your first year and summer internships between your penultimate and final years.
Business experience helps demonstrate your industry knowledge, commercial awareness, and understanding of organisational structures. Consultancy firms value experience that involves teamwork, client-facing roles, commercial awareness, and organisational skills.
Online internships
Forage is an online platform offering free access to virtual experience programs with world-leading companies. These programs allow you to sample ‘life-like’ tasks, giving you a better understanding of what it’s like to be a junior employee at that company. They take five or six hours to complete and are self-paced.
Forage
Please be aware that study abroad, compulsory year abroad, optional placements/internships and integrated year in industry opportunities may change at any time for a number of reasons, including curriculum developments, changes to arrangements with partner universities or placement/industry hosts, travel restrictions or other circumstances outside of the university's control. Every effort will be made to update this information as quickly as possible should a change occur.
Get involved at Nottingham
As well as internships you can gain relevant experience through part-time work, volunteering, clubs and society participation and extracurricular activities such as:
Student-led organisation and Students' Union societies
Where do I look for vacancies?
What specific recruitment advice is relevant to this area of work?
When applying for roles in management consultancy, it’s essential to tailor your approach to meet the specific demands of this competitive field. Here are key pieces of recruitment advice to consider:
- Research thoroughly: Understand the different types of consultancy firms — large, boutique, and in-house — and their unique recruitment processes. Familiarise yourself with the firm's values, culture, and recent projects.
- Highlight analytical skills: Management consultancy requires strong analytical and problem-solving abilities. Emphasise these skills in your application, providing concrete examples of how you’ve applied them in academic or professional settings.
- Prepare for case interviews: Many consultancy firms use case studies to assess candidates. Practice solving case studies under time constraints, focusing on your logical reasoning, quantitative skills, and ability to think on your feet. We subscribe to eCareersGrad for the module ‘Master the Commercial and Consulting Case’
- Networking is key: Attend industry fairs, such as the Management, Consulting, and Finance Fair, and connect with current consultants and recruiters. Building a network can provide insights and potentially lead to referrals.
- Gain relevant experience: Internships, part-time roles, or involvement in clubs and societies can provide practical experience and demonstrate your commitment to the field. Highlight experiences that showcase your teamwork, client interaction, and project management skills.
- Be mindful of application deadlines: Applications for graduate schemes can open as early as July and close by December, with some firms operating on a rolling basis. Apply early to maximize your chances.
By following these strategies, you can enhance your profile and improve your chances of securing a role in management consultancy.