What makes MBA and Research a match made in heaven?
For consulting is a hot industry again.
With the world changing because of constantly transforming policies and regulations, it has become difficult for the companies to keep up. Because of the changing reforms in almost every part of the world, what the global corporate sector is missing is a roadmap and planning backed by researched data. These sudden but growing changes have found an increase in demand for the well-versed expert consultants.
This need to survive amidst changes has created a rise in the recruitment activity for consultants; and the one factor that is common in all the recruiters is that they ask for an MBA degree.
Considering the high pay and flexibility in the consultancy sector, also the graduates from the top MBA colleges see this as an excellent opportunity.
If you see yourself as a future consultant who wishes to make it big in this field, it is very important that you start right from college.
It is very important to have all the necessary skills that are by default expected to be present in an expert consultant. There are some common key competencies demanded by the companies like McKinsey and Bain, Et Al, etc. from the MBA graduates. They are:
It is expected from the consultants that they are able to break down complex problems and discover innovative, well-reasoned, and sensible answers. Practicing case studies and undergoing formal exams will help hone this skill in the students.
Having an in depth understanding of the market a company functions in, along with the awareness of competition will help in demonstrating your soundness of the industry. It is very important for you to be aware of how the ongoing current affairs might influence the corporate environment. So, follow the current news and its back-story along with the trade press religiously.
It is crucial for a consultant to communicate properly with the clients to analyze their needs and validate their recommendations. Be extremely concise, clear in the assessment, and give fluent and well-structured answers in class. It will help in the communication department largely.
Being a consultant you are supposed to work as a part of multiple teams at once. Because of an open work environment you will be supposed to work as a team with people from across the world. Start with working in teams in college so that you get comfortable with the pros and cons of working with people of diverse backgrounds beforehand.
An MBA course will come in handy here. It will give you many opportunities to be part of a team.
In the myriad of projects and assessments, demonstrate your team working skills by taking into consideration other’s views while contributing your own.
Attention to detail
The correct presentation of information to various clients is one of the most vital stages in the commissioning process. The reports or assignments that you do in MBA will prepare you for this.
Also while drafting the CV and cover letter, make sure they are free of errors in terms of grammar and spelling, as it can have a bad effect on the application. Being able to show your skills will by default bring you closer to your dream consultancy job.
Management consultancy recruiters expect the candidate to have a large range of skills, which are relevant to one particular field. So, make sure you have a detailed idea of what is happening in various fields of that particular industry/sector; e.g. If you are interested in Automobiles, have idea of how HR, Marketing, Finance, Operations, and other fields function. Being able to display the knowledge and back those up with practical examples will only improve the chances of your selection in your dream consultancy job.
Author writes on the behalf of shiksha.com, she advises students on right career.
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- What makes MBA and Research a match made in heaven? - April 2, 2015