Pros and Cons of a Consulting Career
April 27, 2020 (Investorideas.com Newswire) Consulting is fast becoming a popular career choice for college graduates in many disciplines. But is it right for you?
Pro: Consulting is always in demand
Running a business is tough. Business owners may be experts in their own field, but that doesn't mean they're experts in marketing, statistics, human resources, or law as well. For those things and many others, business owners of all kinds turn to consultants.
For instance, statistical consultancy services are vital to fields as divergent as medical science to city planning. Human resource consultancy is likewise used by small businesses and global corporations alike. Regardless of the field, expertise is always in demand.
Con: Consulting is very competitive
Because consultancy is always in demand, consultant positions are hotly contested. With businesses seeking only the most knowledgeable experts, their pools of candidates can be surprisingly small.
What's more, while being an expert in a field is enough to qualify you for a consultancy career, being successful in it that career is up to you. With consultancy jobs attracting highly educated, highly motivated individuals, it's not enough to tell a company how knowledgeable you are. You have to show them how that knowledge can help them grow.
Pro: Consultants are well paid
Why is the consultancy job market so competitive? Simply put, a good consultant can make a lot of money. For example, salaries for management and IT consultants who are just starting out average about 50 to 90 thousand dollars per year.
Within five years, those same management and IT consultants can be making over 100 thousand per year. With an income so close to six figures available to job-seekers straight out of college, it's not surprising that consultancy jobs are just as in demand as consultants themselves.
Con: Consultants are under pressure
As you might expect, a high salary comes with a high degree of responsibility. Consultancy can be a stressful career path, too much for some. As a consultant, businesses owners both large and small are relying on you for good advice. Your whole job is built around getting positive, measurable results in a strictly defined period of time.
On top of that, you are often expected to be on your employer's beck and call 24 hours a day, seven days a week. Working as a consultancy means potentially sacrificing much of your leisure time for your career, at least early on.
Pro: Consulting is never boring
Just when you think you've seen and solved every problem under the sun, along comes a business owner who needs help in a way you never imagined. Along comes a whole new staff of people with their own personalities, skills, and needs. Along comes another opportunity to teach, and another opportunity to learn.
Consultants are constantly working with new companies and new co-workers on new campaigns and new answers to new problems. For those who thrive on novelty and hate being locked into familiar routines, consultancy is a dream job.
Con: Consulting can be inconsistent
One person's dream is another person's nightmare. Those who crave stability and reliability may find a consultant's rotating cast of co-workers and the perpetual need to keep up with market trends to be more exhausting than fulfilling.
Worse than that, consultancy job security is always in flux. Businesses open and close every day, so a consultant can quickly find themselves out of work without warning. Expertise is always needed, but it's not easy always finding the business that needs yours.
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