Are you someone who has diverse ideas about different businesses?
Are you someone who can look for opportunities for growth even in the face of adversity? Do you like to give advice and take on new challenges? Then you should consider working as a Consultant.
Many people are unsure of how to begin their consulting career but don’t worry, we’ve got your back. This article will walk you through the 5 simple steps on how to become a Business Consultant, various courses, colleges in India and abroad to study for it and the earning potential of a business consultant across the world.
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Table of Contents
Who is a Business Consultant?
A Business Consultant is a subject matter expert who provides professional advice to individuals and businesses in their field of knowledge. A business consultant helps a company grow its revenue by offering insights and assistance to its clients through suggested measures or solutions to their problems.
How to become a Business Consultant in India after 12th (4-Step Guide)
Step 1: Stream to select
After completing the 10th take up the commerce stream and Identify in what domains your interests and natural abilities lie as there are numerous specializations to choose from while becoming a Consultant.
To find your niche some of the test drive courses related to different fields are mentioned below which will help you find your interest before moving further with your career decision. To become a business consultant, look into courses like Future CEO and Clever Harvey- JuniorMBA Founder, which will give you a taste of your career options before you commit years to pursue one.
Step 2: Educational Requirement
There are various specializations as a business consultant while pursuing your career as the one you can specialize in managerial, operations, or strategy. There are different levels of educational needs concerning different specializations. The following covers the educational requirements to become a Business Consultant
1. Education after 10th to become a Business Consultant
After 10th, it would be ideal to pursue a commerce stream; we can also take finance and economics classes to get a head start on our preparations. Expand your business knowledge by reading financial magazines and newspapers.
To get a taste of becoming a Business Consultant after 10th, We can also do an internship with a small business during summer vacation.
2. Education after 12th to become a Business Consultant
To become a Business Consultant after 12th grade, you can enroll in finance, economics, business studies, or management courses to help you build a strong knowledge base for becoming a business consultant. It is also advised to begin preparing for the MBA entrance exam while completing a graduate program.
At this point, you should probably try and boost your university applications with real industry projects certified by big brands. Check out the different JuniorMBA programs with Multiply Ventures, Cult.fit, Domino’s and more.
- Graduation Courses in India
Candidates having completed 12th with a commerce background are preferred over others. The duration of these courses is 3 years.
- BA Economics
- BSc Economics
- BSc Finance
- Top 10 Colleges for Business Courses in India
|10 Top Colleges for Business Courses||Entrance Exam||Fees|
|Christ University, Bangalore||CUET||₹7,34,000|
|Shaheed Sukhdev College of Business Studies, Delhi||CUET||₹67,560|
|Amity University, Noida||CAT||₹10,50,000|
|H.R. College of Commerce & Economics||Academic Merit||₹39,000|
|St. Xavier’s College, Mumbai||St. Xavier’s BMS Entrance Exam||₹30,000|
|Loyola College, Chennai||Academic Merit||₹4,00,000|
|J.D Birla Institute||Involves selection process||₹5,00,000|
After graduating, you can specialize in certain fields like Marketing, Finance, Management, and Business to pursue related master’s degrees such as MBA, MFM etc.
- Graduation Courses Abroad
There are multiple fields like Business Administration, Finance, Accounting, Management and Entrepreneurship you can opt from when studying to become a business consultant. Colleges abroad offer 3-4 year degree courses like B.Sc in Management Studies, BBA and more. You can appear for entrance exams like SAT or ACT to improve your chances of admit in foreign universities.
The fields along with the Universities offering degrees in them are mentioned below.
- Top Colleges to Study Abroad
|Top Colleges to Study Abroad||Courses Available|
|Wharton||Business Administration, Finance, Accounting, and Entrepreneurship|
|Harvard University||Management and Entrepreneurship|
|Stanford University||Business Administration, Accounting, Finance and Management|
|King’s College||Business Administration|
|Northwestern University||Business Administration and Management|
|University of Chicago||Finance and Accounting|
|University of Texas||Accounting|
|University of Southern California||Accounting|
|University of California||Entrepreneurship|
|University of Michigan||Management|
After completing your graduation you can consider an MBA and start your prep for qualifying exams like GMAT, GRE, TOEFL and IELTS.
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Step 3: Certificate Courses for being Business Consultant
As a Business consultant, you must be extremely reliable and skilled in the subject matter you have chosen, so obtaining certification will position you as a highly qualified professional for the job. This will increase client trust and make them look forward to your advice.
- Certified Management Consultant
- Project Management Professional
- Certified Management Accountant
- Talent Optimization Consultant Certification
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Step 4: Job Preparation
In this profession, you must identify problems and recommend solutions based on your expertise. This job requires frequent travel and management skills, and while the job is highly rewarding, you may face some difficulties when starting your own consultancy firm. It is recommended that you first gain some relevant experience. Watch documentaries and read business books to better understand the changes that businesses face.
Do as many internships as you can to gain the right exposure and experience.
During your postgraduate studies, you can participate in internships and courses that will prepare you for a career as a consultant.
- Create Network to land clients
As a Business Consultant, you must demonstrate your abilities and inform people about what you have to offer right away. It would be ideal if you attend networking events, meet people, and speak with them about your offerings. This will necessitate you honing your relationship-building abilities.
A business consultant can be employed by a company or work independently as a consulting firm or organisation. It is entirely up to you whether you want to start your own business and provide on-demand consulting services. You can build your own network and offer your services as a freelancer to begin strengthening your portfolio and positioning yourself in the industry.
- Create your portfolio
Learn a Foreign Language, especially if you intend to work abroad; knowing the local language will be extremely beneficial!
By now, if you are certain about becoming a business consultant in the future, start participating in debates, take charge of event planning, and be involved in the smooth operation of the events while in school. This will help develop management skills.
Fill out your resume with all of the necessary technical knowledge.
Industry projects with big brands help. Obtaining industry-recognized certifications would also be a significant advantage when looking for work.
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6 Skills Needed to Become a Business Consultant
1. Interpersonal skills
2. Analytical skills
3. Problem-solving skills
4. Strategic Planning skills
5. Management Skills
6. Systems Thinking
Salary of a Business Consultant in India
Entry level salary of a business consultant in India is around ₹4,60,000.
Salary Abroad of a Business Consultant
|Countries||Entry Level Salary|
Top recruiters for Business Consultant in India
- Tata Consultancy Services
- L&T Infotech
Top MNCs recruiting in India and Abroad
- Mckinsey & Co
- Bain & Co
- Boston Consulting Group
- Morgan Stanley
- Goldman Sachs
It is up to you whether you want to start your own company or offer consulting services on an as-needed basis. If you want to be a lifesaver for sinking companies and help people drive smooth businesses, consider a career as a business consultant. Best wishes on your journey to becoming one.
“There is no exercise better for the heart than reaching down and lifting people up.”
FAQs related to How to become Business Consultant
What do you need to be a consultant?
A master’s degree in finance, marketing, administration, or economics is required to work as a consultant.
What exactly does a consultant do?
A Consultant is an expert in a specific subject and will advise you to the best of their ability to help you make decisions.
Do consultants make good money?
Yes, a consultant is well compensated. Although the industry you choose to advise may have different salary ranges, top professionals can earn up to 32 lakhs per year.
How do I start myself as a consultant?
Discover your passion, Choose the best college for you, Get yourself certified in the subject for which you want to be a consultant, and then hone your networking skills. Meet people and explain how you can help them with their problems.
What degree is best for consulting?
You may consider majors in Economics, Finance, Business Management, Marketing, and Law.