How Much Does A Consultant Make? (With Duties and Skills)
By Indeed Editorial Team
Published 12 April 2022
The Indeed Editorial Team comprises a diverse and talented team of writers, researchers and subject matter experts equipped with Indeed's data and insights to deliver useful tips to help guide your career journey.
If you have an interest in making critical business decisions and helping organisations grow with their decision, a career as a consultant can be a rewarding career. Consultants use their knowledge when they advise businesses to achieve their organisational goals, improve business performance, maximise profits and create value for the organisation. Finding answers to questions such as “How much does a consultant make?” can help you decide if it is the right career choice.
In this article, we discuss what a consultant does, explore how to increase your earning potential, understand the steps required to become a consultant and learn about the skills required for the job role.
How Much Does A Consultant Make?
If you want to know “How much does a consultant make?” the national average salary of a consultant is ₹42,270 per month. Their salary can differ based on many factors, such as experience, education, skills and location. Some cities pay a higher salary than others. For instance, the average salary of a consultant in Chennai is ₹58,072 per month, whereas the average salary in Delhi is ₹38,672 per month. The salary of a consultant depends upon their area of specialisation.
For instance, the average salary of a recruitment consultant is ₹18,890 per month, average salary of a data consultant is ₹11,50,025 per year and the average salary of a management consultant is ₹2,68,890 per year.
How Can Consultants Increase Their Salaries?
When working as a consultant, you can increase your earning potential by following these steps:
1. Relocate to higher-paying cities or states
A consultant's salary can significantly increase depending on the cities in which you work. This is because the standard of living in some cities is higher than in others. For instance, the national average salary of a consultant in Bengaluru is ₹52,569 per month and the national average salary in Pune is ₹43,373 per month. So, when working in a lower-paying state, you can consider moving to a higher paying state or city. You can factor in the living expenses to ensure that you make an informed decision.
2. Change your workplace
Every industry pays a different salary depending on their job requirement and size. So, if you want to earn a higher salary, consider changing your workplace or industry for a better-paying job. A consultant works in educational institutions, telecommunications, public sector, manufacturing and healthcare.
3. Gain more experience
Most companies prefer consultants with some relevant work experience. Having work experience in different organisations can find solutions to various business issues. Through an internship, gaining experience can help you increase your salary potential. Also, focus on getting hired as a junior consultant to increase your earning potential.
4. Request a raise in pay
If you are against changing your workplace, you can request a raise from your employer. The salary hike you get depends on your work performance, attitude towards work and loyalty towards the organisation. When asking for a raise, you only require negotiation skills to help you navigate a better salary without reducing your professional reputation. You require performance reviews during the negotiation stage to get a desirable raise.
5. Complete certifications
Completing certifications in consultancy can help you gain the skills required to develop solutions to improve an organisation's operations. Certifications provide proof of your capabilities and skill set. When you complete a professional certification, you come across as a professional and responsible employee. With relevant certifications, you can attract higher pay.
6. Start a consultant firm
After gaining relevant experience in the consultancy field, you can start your consultant firm. You can search for companies and organisations that want to enhance their business operations and streamline workflows. You can develop action plans and create strategies to solve a specific business problem when you own a consulting firm. If clients like your work, they are likely to recommend your services to others, resulting in more earnings.
7. Supplement your income with side jobs
As an experienced consultant, you may use your skills to work as an independent contractor along with your full-time job. You can offer to speak at guest's forums and events on various consultancy skills or teach students who plan to become a consultant. Offering online coaching at a reasonable rate can help you earn higher.
What Does A Consultant Do?
A consultant is a professional who helps a business solve its problems. They are responsible for gathering insights and data, running analyses, making presentations and pitching solutions to clients. Apart from helping a business solve problems, these professionals perform the following duties:
Oversee projects to address needs and issues
Conduct research on the organisations and their customers
Analyse data to identify problem areas
Formulate plans to overcome recommendations and objections
Use interviews, surveys to collect the data
Recommend product positioning approaches for new product offerings
Prepare marketing and advertising materials
Participate in staff meetings dedicated to advertising and marketing
Prepare business proposals and presentations
Prepare business proposals
Conduct business analyses
Help the organisation solve issues that adversely affect its profitability
How To Become A Consultant
Use the following steps to become a consultant:
1. Complete a degree
The first step towards becoming a consultant is getting a relevant degree. While there is no specific degree, enrolling in a course relevant to the consulting you want can help you fulfil your career. For instance, you can pursue a project management, business administration or commerce degree to get started. A professional undergraduate course helps you gain the basic skills required to become a consultant.
2. Sharpen your skills
When planning to become a consultant, it is essential to improve various skills such as communication skills, flexibility, commercial awareness, teamwork, integrity, interpersonal, leadership and management skills. To improve your skill set, focus on working as an intern in any consultancy firm. With experience, you can enhance your skills and know what a career in consulting entails.
3. Pursue your master's degree
Though most entry-level and mid-level positions do not require a master's degree, having one allows you to apply for various senior management positions. Usually, candidates pursue a master's degree to enhance their skills and find a better-paying job in the consulting field. Pursuing a Master of Business Administration (MBA) or consultancy can help you apply for senior consultant roles.
4. Gain relevant experience
After gaining relevant experience, it is easy to apply for consultancy positions. To get a desirable job, research and prepare for interview questions commonly asked in a consultancy interview. For getting hired for a relevant job, create a curriculum vitae (CV) or resume that allows potential employers to shortlist you for an interview round. In your CV, list specific skills related to the job description. By gaining relevant experience, you have a higher chance of increasing your earning and accelerating your career growth.
5. Ensure continued learning
To ensure you remain up-to-date with your career, it is essential to focus on continued learning. Staying relevant to consulting trends and knowing how other consultants work can ensure a rewarding career. Attending seminars, webinars and presentations increases your networking and development opportunities.
Skills Of A Consultant
A consultant requires soft skills to excel in their career and fulfil their job duties. Some skills of a consultant are:
Critical thinking skills
Critical thinking is a consultant's ability to process information and make educated decisions on a topic. They use critical thinking skills to think about a concept, problem or an unconventional situation. Understanding and solving business challenges can help you find solutions to these problems. Apart from using their skills, these professionals encourage brainstorming that generates ideas from many individuals.
As a consultant, your job is to solve business problems. Listening and understanding the business problem is desirable for this role. Employers prefer candidates with excellent problem-solving skills because such candidates can handle problems without committing additional mistakes. One client may ask a consultant to develop an employee onboarding programme from scratch, whereas others may hire a consultant to prevent a potential problem from becoming big.
Interacting and collaborating with other professionals can help achieve workplace deliverables. Often, employers hire candidates who can work collaboratively in a team. Working in a team makes a consultant ready to take up leadership opportunities. Also, when working in a team, you can brainstorm ideas and solutions which you may have never thought of.
Employers prefer consultants who can make intelligent decisions for building a successful career. Though most businesses can decide independently, they rely on a consultant's skills to make business decisions. Employers prefer candidates who can make excellent decisions that guarantee effective results. Making tough decisions while providing reasons for reaching a decision is desirable for the job role.
Salary figures reflect data listed on Indeed Salaries at time of writing. Salaries may vary depending on the hiring organisation and a candidate's experience, academic background and location.
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