Job descriptions and tips

Key Jobs

As each firm has its favorite buzzwords, it also has unique terminology for its rank and file. While the titles may vary from firm to firm, the roles can basically be divided up as follows: analyst (also called research associate or staff consultant at some firms), consultant (or senior consultant), manager, and partner or VP. In addition, consulting firms hire a cadre of highly capable nonprofessional staff into administrative and support positions—this is not a bad place to be if you've got skills in PowerPoint and you like to create slides.

Administrative Assistant
Most consulting firms have a fairly large pool of college-educated administrative assistants and support staff on board so that the consultants can keep focused on tasks that justify their $200-plus per hour billing rates. In addition to performing standard support functions, many have specific roles (recruiting, office administration, or website maintenance, for example). Most firms also have a group of graphic designers on staff to prepare materials for presentations. Salary range: $26,000 to $42,000 or more.

Analyst/Research Associate/Staff Consultant
This is the position at the bottom of the professional pyramid. The vast bulk of analysts are young, talented, and hungry college graduates. Many firms structure this position to last for two to three years, after which the analyst is expected to move on—perhaps to graduate school or another employer. Some firms do allow people to progress up the management ladder without leaving the firm. The work itself—as well as the hours—can be quite demanding. It often includes field research, data analysis, customer and competitor interviews, and client meetings. In IT, analysts may do heavy-duty programming. Salary range: $56,000 to $84,000, often plus a signing bonus and year-end bonus.

Associate/Consultant/Senior Consultant
This is the typical port of entry for newly minted MBAs (and increasingly for non-MBA graduate students as well). Senior consultants often perform research and analysis, formulate recommendations, and present findings to the client. Oh, and at many firms, they have to implement those great ideas, too. Although this is usually a tenure-track position, a fair number of consultants will leave the business after two or three years to pursue entrepreneurial or industry positions. Salary range: $43,000 to $93,000 or more with bonus.

Manager
After a few years, a senior consultant will move up to manager. As the title implies, this usually means leading a team of consultants and analysts toward project completion. Some firms may hire MBAs with significant work experience directly into the manager position, particularly in their IT practices. In addition to having more-rigorous responsibilities for managing the project team, the manager will typically be a primary point person for client interactions. Salary range: $89,000 to $150,000.

Partner or VP
Congratulations! You've forded the River Jordan of consulting and arrived at the Promised Land. Note that some firms further subdivide partners into junior and senior grade. And, if you aspire to it, there's always that chairman or CEO position. As a partner, one of your big responsibilities will be to sell new work. Fortunately, as with other big-ticket sales jobs, the pay can be quite rewarding. Salary range: $250,000 to several million dollars at leading firms.

Getting Hired

There are two main routes into consulting. One goes directly from campus (undergrad and MBA, primarily) into entry-level positions (analyst or consultant). The other leads from industry into midlevel positions in specific practice groups (e.g., aerospace, energy, and financial services), functions (e.g., marketing or supply chain management), or technologies. If you're set on landing a consulting job, keep these things in mind:

• Competition for consulting spots is intense—major firms review hundreds of resumes for each hire they make. To stand out from the crowd, impressive schools, impressive grades, and a demonstration of significant work or leadership experience are almost essential.
• In addition to your bulletproof resume, you'll need to show evidence of strong analytical skills—usually by acing a series of the notorious case interviews, in which recruiters ask you to analyze a hypothetical business problem—your raw intelligence, and your ability to work well with people.
• If you're applying for an IT consulting position, you may well be asked to write some code.
• In almost all cases, you will be screened for your fit with the firm. So, for the duration of your interviews at least, try very hard to scale back your most irritating habits.
• Remember, this is a very conservative industry. A pale blue resume, white loafers, and off-color comments will certainly earn you a rejection letter.