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About Management Consulting

Who We Are

A Consultant to Management is a professional who, for a fee, provides independent and objective advice to management of client organizations to define and achieve their goals through improved utilization of resources.

He or she may do this by diagnosing problems and/or opportunities, recommending solutions, and helping implement improvement.

The US government identifies management consultants as "management analysts" and tracks their total number and employment status. As of May 2017, nearly 659,000 management analysts work in the US, including those employed internally to private and public sector organizations and independent consultants. Because of the survey techniques in use and the large number of independent management consultants working as sole practitioners, this figure is likely to have been significantly underestimated.

The US Department of Labor Bureau of Labor Statistics (BLS) provides a description of management analysts. Highlights of this description are:

  • Employment of management analysts is projected to grow 14 percent from 2016 to 2026, faster than the average for all occupations. Demand for the services of these workers should grow as organizations continue to seek ways to improve efficiency and control costs.
  • Despite much faster than average employment growth, opportunities should be best for those with a graduate degree, specialized expertise, and a talent for salesmanship and public relations.
  • About 17 percent of management analysts are self-employed.
  • A bachelor's degree is sufficient for many entry-level government jobs. Many positions in private industry require a master's degree, specialized expertise, or both.
  • Keen competition is expected for jobs as management analysts because of the independent and challenging nature of the work and the high earnings potential that make this occupation attractive to many.

 

The U. S. Bureau of Labor Statistics summary includes:

  • Nature of the Work
  • Training, Other Qualifications, and Advancement
  • Employment
  • Job Outlook
  • Projections Data
  • Earnings
  • Occupational Employment Statistics (and a really detailed wage data document)
  • Related Occupations

 

Sources of Additional Information

IMC USA tracks this important information on behalf of its members and uses the data to identify future trends.

Next: How to Hire a Management Consultant