/ BLOG

What types of consultants are in demand – 7 highest paid consultancy jobs

Feb 24, 2019 · 5 minutes to read

A consultant reading a business newspaper

If you’ve ever considered consultancy as a career, you may have wondered about the types of consultancy jobs and what the best option may be for you. Consultancy, much like entrepreneurship, requires an in-depth understanding of establishing and running a business. But depending on the type of consultancy you want to offer, you may also need to develop different sets of skills. This post focuses on the highest paid consultancy jobs and what you need to master to be chosen for them.

Best Paying Consultancy Jobs & Most In Demand With/Without an MBA

The intellectual appeal and financial rewards that the consultancy industry entails earn it a lot of attention from people of all ages. Both younglings, just out of college, and veterans who want to slow down their careers, look at consultancy as an option. But what exactly does it mean to be a consultant? And does a successful, financially rewarding career in consulting require an MBA? Well, contrary to what most people believe, you don’t need an MBA to succeed at consulting. In fact, getting an MBA doesn’t guarantee your success in the world of consulting. It’s your skills and ability to make things work that matters, along with your ability to make choices. Would you invest in online advertising or offline networking and small but essentials such as consultant liability insurance?

Difference between consultants with MBA vs. without MBA

Technically, if you are a consultant with a Bachelor’s Degree in finance, marketing or operations, and have over five years of experience providing certain services, you could get a well-placed job in any Fortune 500 company or even generate tons of business on your own. Yet, some people believe that an MBA is an absolute requisite for getting a well-paid consulting job. Here are the differences between consultants with an MBA and those without, so you can decide for yourself.

Without MBA

Without an MBA, you can still succeed at consultancy if you focus on developing your skills and creating proof in terms of what you can make happen for clients. On the negative side, an entry-level career in consultancy may not pay as much as you would earn if you completed your MBA. However, you may earn the same salary if your skills are worth it.

With MBA

According to studies, business school graduates may make 140% more at their jobs than their peers. But this isn’t necessarily the norm. You could get paid as much as an MBA graduate if you have the skill set to warrant it. But an MBA comes with certain advantages. If you’re in one niche of consulting and would want to switch to another, an MBA can help you get a fresh start without losing any momentum or your value. An MBA also comes with the added confidence, extra training, and other such advantages.

Irrespective of whether you’ve completed your MBA or not, you can increase your earning as a consultant by choosing certain niches over others in which to specialize. Here’s a list of the types of consultants that are in demand or the highest paid types of consultants.

Consulting is a challenging and lucrative industry. Whether you’ve completed your MBA or not, you might increase your earnings as a consultant by choosing certain niches over others.

Here’s a list of seven types of consultants that are in demand.

1. Strategy consultants

Taking a top-down view of a business, strategy consultants audit a company’s long-term vision and trajectory. They may analyze a business’ allocation of resources and identify new target markets, as well as business development and lead generation.

2. Financial advisory consultants

A key part of a business’ success depends on how well its finances are managed. Financial advisory consultants explore how a business can cut costs, increase cash flow, and reduce risks in a legal and ethical manner. These consultants are expected to pass the U.S. Financial Industry Regulatory Authority (FINRA) exam to work in the field.

3. Business operations consultant

By understanding client management, product delivery, raw material procurement and other such aspects of the operations chain, business operations consultants cut costs and improve productivity for businesses.

4. Investment consultants

Investment consultants provide businesses with financial advice after conducting thorough research. From identifying new potential investments to monitoring the performance of a client’s current portfolio, these consultants help manage the decisions associated with business investment.

5. Tax consultants

Tax filing can get complicated, especially for large organizations. Tax consultants provide advice to tax filers, ensuring that they’re adhering to government-mandated norms.

6. IT consultants

IT infrastructure plays an important role in the running of any business. IT consultants may install and monitor software and other information technology to help businesses run more efficiently.

7. Risk management consultants

Risk management consultants deal with market risk, operational risk, inflation risk, and other such factors that may affect the value of a business. By calculating and making suggestions to eliminate such risks, they ensure that large businesses don’t suffer the consequences of unpredictable circumstances.

Reduce your risk with consultants insurance

As a consultant providing advice to organizations, you too could be at risk. Protect your finances and reputation with consultants insurance from BizInsure. Consultant insurance protects you against mistakes, claims of negligence, client injury, and more.

 

As with any insurance, coverage will be subject to the terms, conditions and exclusions contained in the policy wording. The information contained on this guide is general only and should not be relied upon as advice. The number of quotes provided varies between products, occupations and other underwriting factors determined by the insurers.

Let's find

The coverage you need for your business

Professional Liability Insurance

Professional Liability Insurance

Get a quote

General Liability Insurance

General Liability Insurance

Get a quote

Business Owner’s Policy (BOP)

Business Owner’s Policy (BOP)

Get a quote

Workers Compensation Insurance

Workers Compensation Insurance

Get a quote

Let's find

The coverage you need for your business

Professional Liability Insurance

Professional Liability Insurance

Get a quote

General Liability Insurance

General Liability Insurance

Get a quote

Business Owner’s Policy (BOP)

Business Owner’s Policy (BOP)

Get a quote

Workers Compensation Insurance

Workers Compensation Insurance

Get a quote

The agent was very knowledgeable and was very quick in handling my request.
Good customer service
Fast friendly professional service
Jennifer was fabulous. Quick & easy quote for GL/PL coverage and saved me money over previous policy. My wife referred me - she's always right!!
Representative was very kind, helpful, and educated me well. I especially appreciate their professionalism and patience.
Been with this company for about 4 years. They have provided me with excellent coverage, user-friendly technology and very low rate. As an accountant, they are my first choice for my small business clients.
Absolutely the easiest, absolutely the fastest, the best I can tell the lowest cost. For many businesses, Insurance is a dirty word, because it's complicated and we're actually so busy minding our business that when complicated insurance issues get in the way, it slows us down. But not with these guys. Biz Insure LLC has figured it out and thank goodness they have...
Thanks, you for your service
I want to say thank you for all the hard work the agent put in with me. She was glad to hear from me. Very pleasant to deal with and solved my needs
Thank you for your professionalism and patience and helpfulness with my insurance needs for my new business. Thank you, Amy Raley as well for all of your help - you are sincerely appreciated and you are an asset to BizInsure LLC!
I have been using Bizinsure for several years and find the ease of renewing as well as generating additional insured certificates to be easy and useful, especially as a sole prop. thank you
Agent was precise and clear with explanation. Getting a quote was fast and easy. Thank you
Easy to renew Policy
BizInsures insurance is easy and affordable. Employees are well courteous and professional.
The renewal process is fast and efficient.
Easy to get Quote and start insurance with the recommended Insurance company. Not sure yet on services there after.
Yes, super easy!
I worked with Rachel to whom is professionally pleasant! She made it quick easy and communicating effectively while starting my business policy. I had to follow up for a COI addition and it was revised within minutes after me sending the email request.
Very Happy with the process and coverage.
very easy and efficient process. we are very happy.
Pleasant, efficient and reasonable/
I had an exceptional experience with Andrea Magee at BizInsurance. From day one, her professionalism, caring attitude, and thoughtfulness made a significant impact. She truly understands the needs of her clients and offers outstanding support. Her approach was not only thorough but also deeply supportive of our business. I highly recommend Andrea for anyone looking for top-notch insurance service!
Every year, BizInsure is my go to for general and professional liability insurance! The rates are unbeatable.
I renewed my policies , including a few updates, through the on-line portal. It was quick, easy and completed in a few moments. I will not have to revisit thias until 12 months from now. I printed out my documents and have no questions pertaining to my renewal. It was seamless. Thank you Biz Insure
Very nice and easy to use !!
I've been with Bizinsure LLC for 12 years. This is the easiest way to take care of my insurance needs. The best pricing too!!!
I have been a bizinsure client for a decade, and I couldn't be happier with the ease and customer service they offer. Highly recommended!
Why send emails and ask the company rep to call Bizinsure to renew, when you call and you get directed back to the website?I did want to speak to a person, but was unable to do so.
Easy to navigate what you need. Always notify ahead of renewal!
js_loader
Google Rating
4.7
Based on 338 reviews
×
js_loader





    This will close in 0 seconds