Everything You Need to Know to Become a Consultant

A consultant is an expert in a specific field who advises organizations or individuals on a temporary basis. There are countless different types of consultants, but the most common specialties are sales, marketing, and business management.

While every organization has its own requirements for who they hire, you need certain skills and educational training if you want to become a consultant.

Degree requirements

There are no strict educational requirements for consultants. We spoke to Jon Morgan, CEO of the business consulting firm Venture Smarter, who says that a degree isn’t the most important factor determining whether or not you can become a successful consultant.

“While a degree in a relevant field can be helpful, it’s not always necessary,” he said. “What’s more important is having a deep understanding of business principles, industry trends, and best practices.”

Nevertheless, Morgan noted that many successful consultants have an MBA or equivalent experience. And if you plan to work at a consulting firm, you’ll usually need at least a bachelor’s degree.

Many major consulting firms even require a master’s degree or equivalent experience. If you’re planning to work for one of these companies, it’s a good idea to research what their education, certification, and training requirements are before you even start college.

Best degrees for consultants

There isn’t really such a thing as a consulting degree or consultant degree. With that said, there are certain majors that are common for consultants:

• Business management
• Finance
• Engineering
• Marketing
• Education
• Political science

Not every consulting job will come with stringent requirements. However, just because an employer doesn’t require a Master of Business Administration (MBA) degree, special certifications, or internships doesn’t mean they aren’t worth pursuing.

Essential consultant skills

A consultant’s job typically involves data collection and analysis, communicating with clients, and solving problems. To accomplish these duties, consultants need a combination of hard and soft skills.

Hard skills

Hard skills—the ones you use to do your job—are difficult to define for consultants because their day-to-day tasks and responsibilities greatly vary depending on the industry they work in.

For instance, a senior property tax consultant would likely need property tax experience, knowledge of valuation concepts, and advanced experience using Excel, Word, and Adobe.

A cybersecurity consultant, on the other hand, would need to understand web standards, hacking techniques, programming languages, operating systems, and more.

Soft skills

Most consultants need a similar set of soft skills—the ones that make a consultant good at what they do—regardless of specialty.

To be a good consultant, you need to have these skills:

• Client management
• Time management
• Teamwork
• Leadership
• Active listening
• Critical thinking
• Adaptability
• Problem-solving
• Verbal communication
• Written communication

Ultimately, however, it’s the complex combination of knowledge and skills that make a great consultant rather than highly specialized abilities in just one particular area. “What’s crucial is a proven ability to deliver results, communicate effectively, and demonstrate strong problem-solving skills,” Morgan stressed.

Before you begin applying to entry-level consulting jobs or launching your own business, read through current job postings. They’ll give you a good idea of what the baseline expectations are for most people looking to hire a consultant in your field.

It should be said that while no degree is required to become a consultant, it’ll be much easier to get hired if you have a bachelor’s degree to start. But if you don’t have that, you can compensate with industry experience and certifications.

Here’s the process you’ll follow either way to get started on your journey to working as a professional consultant.

1. Identify your niche

While it’s possible to define a consultant in general terms, there is no such thing as a generalist consultant. Every consultant has a niche specialty.

Here are some examples of consulting niches:

• Management consultant
• Business consultant
• AI consultant
• Medical consultant
• Construction consultant
• Engineering consultant
• Cybersecurity consultant
• E-commerce consultant
• Education consultant
• IT consultant
• Human resources consultant
• Physical therapy consultant
• Restaurant consultant
• Risk and compliance consultant
• Sales consultant
• Architecture consultant
• Social media consultant
• Sustainability consultant
• Aviation consultant
• Library consultant
• Software consultant
• Tax consultant
• Wellness consultant
• Lactation consultant
• Law school consultant

This is only a snapshot of popular consultancy fields. You can find endless specialties in incredibly niche subjects. Each of these consultants are experts in their fields. However, their job descriptions and duties may look completely different.

For example, a wellness consultant provides advice and tailored nutrition and fitness programs for individuals, whereas a risk and compliance consultant manages regulatory compliance for major corporations.

Choose a niche that aligns with your degree or training, professional experience, and interests. Then check to make sure there’s market demand for your expertise.

There’s a need for expert and unbiased advice and guidance in every industry. The trick is to find a niche that you have true expertise in. If you’re not at that level yet, the next steps will help you gain the experience and training needed to reach it.

2. Gain industry experience

Formal education isn’t the only way to learn. Real-life experience is arguably even more important than degrees or certifications if you want to start consulting and be a great consultant. “I’ve seen many successful consultants who have learned through hands-on experience and continuous learning,” Morgan said.

Tori Bell, a digital PR consultant who runs her own consulting business, agrees that experience is more important than formal qualifications. “Being a successful consultant is more about having experience and demonstrable results than qualifications,” she told us.

Bell has worked in the digital PR space for 10 years, either as her main role or as part of her job, and has developed a broad knowledge base and experience implementing strategies that bring tangible results. “This experience gives me the expertise I need to help my clients achieve their goals,” she added.

Consultants don’t all have the same career trajectory, but most do spend a decent amount of time doing hands-on work in their field before moving to consulting. Here are some ways you can do the same.

Full-time work

Many people seek out greater opportunities at their current place of employment. In addition to acquiring the knowledge and skills you’ll need to be a consultant, it’ll also help you climb the corporate ladder in the process.

Freelancing

Your current job might be too limiting. In that case, doing freelance projects will allow you to hone your niche skills and start working as a consultant. This is a good way to gain experience, make a name for yourself, and start building your portfolio.

Consulting internships

If you’re interested in working for one of the Big Four accounting firms or a top consulting company like Bain & Company, Boston Consulting Group (BCG), or McKinsey & Company, check out their internship opportunities. This is an awesome way to get your foot in the door. These firms are always on the lookout for new interns.

DIY

Another option is to work on building your skill set by doing your own projects. For example, if you want to become a software consultant, you could watch YouTube tutorials or take online courses to help you master the required programming languages and applications and then actually start building applications on your own.

3. Get trained or certified

Even with a college degree, consulting training can be beneficial. Many employers are also looking for this training, in conjunction with a certain number of years of work experience.

There are various consultant training and certification programs out there, and some cost thousands of dollars to complete. The table below shows some popular consulting certification programs and their costs.

Consulting Certification Options

If you plan on pursuing a consulting specialty other than management consulting, you might also need training and/or certification in your area of expertise.

While you’ll find consulting courses on platforms like Coursera and Udemy, they won’t carry as much weight as a certification program from a renowned institution. But if you’re looking to fill some skills gaps, they’re a good option.

Investing in a certification is the best way to get into consulting without a degree. The only catch is that many of these certification exams require a certain number of hours of training as well as a certain number of months experience in the field.

For example, before you can take the PMP certification exam, you’ll need at least 36 months of experience leading projects and at least 35 hours of project management training. The requirements are even higher if you don’t have a bachelor’s degree.

4. Become an expert in the latest technology

We spoke to Matthias Kupperschmidt, an SEO and analytics consultant, who told us that one of the best ways to get hired as a consultant without a degree is to become a pro in technology that’s so new to the market that college graduates haven’t had the chance to study it yet.

“Newest tech that clients demand is not taught at universities or business schools until it is established,” Kupperschmidt said. Spending a couple of years learning how to use a new technology as soon as it’s been released will give you a competitive edge, and it can even make you a more attractive candidate than consultants with master’s degrees from prestigious universities.

Bell similarly emphasized the importance of understanding technology when learning to become a consultant. “It’s crucial to keep up-to-date with the latest tech and make sure your tech stack works for you. You don’t have to be a tech guru, but you’ve got to integrate and use tools that’ll help you deliver results,” she said.

5. Build your network

Relationship building is a crucial step in the process to becoming a consultant. There are a number of reasons why networking is a must.

Networks allow you to:

• Establish yourself within relevant professional communities.
• Get access to consulting and industry-specific conferences and webinars.
• Stay on top of consulting and business trends and news.
• Find other consultants or companies to partner with that have complementary skills.
• Learn about potential job opportunities or find new clients.

Even if you plan to provide consulting services virtually, it’s a good idea to do a mix of in-person and online networking. For in-person networking, start by joining your local chamber of commerce. Also search for local business or industry groups or Meetups.

Social media is going to be the most useful source for networking online. If you don’t already have a LinkedIn profile, that’s the first place to start. Then use the My Network tools to connect with former colleagues and classmates, other consultants, and so on.

You should also do a search for consulting groups. You’ll find them for all kinds of consulting specialties, such as environmental consulting, logistics consulting, strategy consulting, and more.

Another step you can take is to follow companies that you’d be interested in working for. Staying connected will allow you to learn more about the organization before applying for a job.

There are typically three ways to break into consulting. Which one is best for you depends on your professional goals and where you’re starting out in your career.

Becoming an internal consultant

If you’re already working for a company that employs consultants, then this is the best way to get your feet wet or become a consultant with no experience. You’ll already have demonstrated your value to the company as well as your expertise. It’s simply a matter of positioning yourself for consulting work when the opportunity becomes available.

If this is your chosen route, you should still pursue external training and certifications and put effort into building your network. While getting an internal consulting job could be a great way to get into consulting, it might not be where you want to ultimately land, so it’s good to be prepared. Plus, all this work will help you become a better consultant.

Getting a job at a consulting firm

Breaking into the top management consulting firms like McKinsey & Company, Boston Consulting Group, Bain & Co, and so on can be incredibly difficult. Many of these organizations recruit new hires from top universities or choose candidates who have completed unpaid internships with them. What’s more, the turnover rate at these companies is incredibly high.

So if you’re looking to become an external consultant, expand your search beyond just the big-name consulting companies. There are many organizations out there that need experts to advise them.

This option will require a bit more work than becoming a consultant at a company you already work for. Your online portfolio, testimonials, and resume need to be in tip-top shape. You’ll also need to prepare for the interview and testing process, which can be rigorous and take weeks to complete.

What’s nice about external consulting is you’ll be able to find opportunities for full-time and part-time work as well as permanent and temporary jobs. So if you require more flexibility or you want to grow into your consulting career over time, this is a good way to do it.

Starting a consulting business

You can technically start a consulting business with no experience consulting. You also don’t need a fancy degree. But you will still need to understand the basics of consulting and possess all the right skills and industry knowledge to be a good consultant and give value to your clients.

But don’t be fooled. Starting your own consultancy requires a ton of work and a huge investment of time.

Here’s a glimpse into what you’ll need to do:

• Define your specialty
• Structure your services
• Set your prices
• Register your business
• Secure any required business licenses
• Get liability insurance
• Build your website
• Create social media profiles
• Set up your office
• Purchase business software
• Get testimonials and referrals
• Apply to jobs
• Provide client consultations
• Draw up proposals and contracts
• Write thought leadership content and share to social media regularly
• Network

A major benefit to starting your own consultancy is that you’ll have complete freedom in terms of where you work, which clients you take on, how much you charge, and so on. As an independent or freelance consultant, you can even work from home by offering remote or virtual consulting services.

If you are an established expert in a particular area, then consulting is an excellent career path to consider. Our recent survey of US side hustlers found that it’s the most lucrative form of independent work. What’s more, it’s an incredibly versatile field with a huge range of job options for professionals in virtually any industry.

Morgan sees consulting as a good job that he’d definitely recommend to others. “It’s a dynamic and rewarding field that offers the opportunity to work with a variety of businesses and industries. You get to solve complex problems, drive change, and see the direct impact of your work,” he said.

However, Morgan also warned that it’s not for everyone. “It requires a high level of commitment, adaptability, and excellent interpersonal skills. But for those who enjoy these challenges, consulting can be a fulfilling career choice,” he added.

Something to keep in mind is that working as a consultant comes with lots of stressors:

• Large workloads
• High expectations
• Client and team management
• Long hours
• Inconsistent and unpredictable schedule
• Extensive travel (sometimes)
• Unpredictable salary

For this reason, there’s a high risk of burnout. There’s also a lot you have to do to maintain your good standing as a consultant, including networking, recertification, and ongoing training.

It can also take years to acquire the education, training, and experience you need to get a consulting job. Alternatively, you could start your own consulting business, but that comes with its own set of challenges as well as high costs.

How much do consultants earn?

Consultancy is the most lucrative side hustle out there. The very best consultants charge thousands of dollars per hour, and it’s not uncommon for mid-level consultants to charge upwards of $300 per hour.

Nevertheless, Indeed reports that the average salary for a consultant is around $90,000 a year, with most earning in the range of $25–$80 per hour. 1 You’ll find some disparity in the salaries consultants earn across different specialties.

Average Annual Consultant Salary by Specialty

In addition to specialty, there are other factors that can affect your earnings as a consultant:

• Years of experience
• College degrees
• Training and certifications
• Industry demand
• Self-employed vs. employed
• Part time vs. full time
• Commission rate

Consultant job outlook

According to the US Bureau of Labor Statistics, the job outlook for management analysts (consultants) from 2022 to 2032 is 10%. 2 This growth rate is much faster than the average across all jobs.

However, management consultants are just one type of consultant. You’ll have to look at your specific industry and the growth or decline within it to determine your own job outlook.

Management Consulting Job Outlook by Industry

Source: Vault.

Predictions for consulting show that certain industries will boom while others will bust in the coming years. So aligning yourself with a rising industry will be critical to your success.