How to Break Into Finance as a Consultant

The position of management analyst is the synonymous with management consultant consistent with the BLS (Bureau of Labor Statistics). Consultants suggest ways in which a company can improve its efficiency, revenues, cost controls, and productivity. Consultants usually have the task of analyzing, modeling and identifying areas where development is required. The consultant can improve a strategy and help the business implement the essential steps to enhance revenues, expense controls or operational efficiency. Consultants may require training employees to implement as well and work with a new procedure.

A consultant can be autonomous, so they are hired by the contractor for a certain project. The project may have an exacting specialization, like inventory controls or the elimination of duplication through the reorganization of the structure of a company. Several consultants work for large consulting companies in which their function is to help the company’s clients to make the essential improvements.

1. Requirements and Training Required

You need an advanced degree such as an MBA, in addition to several years of related experience to be considered for a management consultant position. Those interested in developing their credentials can choose the certification of the Institute of Management Consultants of the United State that offers a Certified Management Consultant designation. As well as the education requirements, the consultants should also have several years of experience to get the certification.

2. Payment Options

As of 2017, the average salary of management analysts was $ 85,000, and 90% earned between $ 55,000 and $ 140,000. In general, consultants can obtain very attractive payment packages that far exceed the BLS averages. For instance, according to the payscale.com job website, management consultants with McKinsey & Co. earn an average of $ 100,000 yearly, within a range of $ 70,000 to $ 172,000.

The same management consultants at Deloitte earn an average of $ 90,000 within the range of $ 80,000 to $ 120,000 per year. Managers and consulting partners get even more pay. However, there are warnings.

3. Billing Practices

Consulting companies and individual consultants usually bill by the hour. This practice has many disadvantages, both for independent consultants and for clients who consult equally and has been attacked in some sectors.

4. Job Prospects

The BLS had more than 800,000 management consultants in 2016, and the number is anticipated to exceed 900,000 by the year 2025.

5. Work Environment

The BLS notes that frequent trips are a classic part of the job. See our discussion on health and business travel. On the other hand, the BLS also states that only about 25% work more than 40 hours weekly. The figure is probably underestimated, as a minimum for the most prestigious consulting firms. Weeks of work of at least 60 hours are sometimes normal, and 70-80 hours are not unusual at all. Click here.

As well as reading the articles mentioned above about billable hours and usage rates. All these matters are important for the prospective consultant. In brief, those who are successful in this field live to work and also thrive under pressure.

The benefits of becoming a reservoir engineer

There’s many benefits in becoming a reservoir engineer or a petroleum engineer. So many people are looking for engineering careers, but they are not sure about what type of engineer to become. There’s many different opportunities in the engineering field, and if you don’t know much about all the different types of engineering careers, you can’t make a great choice. Here are some of the benefits of becoming a petroleum engineer, also known as a reservoir engineer.

High salaries

The biggest advantage about having a career as a reservoir engineer, is the high salary that you’re going to get. Normally, all types of engineering careers pays really well, but because a petroleum engineer works with oil and gas, and because this is an expensive field to work in, an engineer working with oil and gas, is getting paid more than some of the other types of engineers. Read more at http://www.bls.gov/ooh/architecture-and-engineering/petroleum-engineers.htm
The benefits of becoming a reservoir engineerThe benefits of becoming a reservoir engineer
Most of the time, people are looking at the total salary that they can get, when they decide on a career. And, choosing this type of career will pay higher salaries than some of the careers that’s available. We don’t want to choose a career where the pay isn’t as great, but we are working long hours on end. Working as this type of engineer, you will most definitely get paid for the work you’re doing.

Lots of work opportunities

Another important advantage if you’re considering becoming a reservoir or petroleum engineer, is there’s lots of great job opportunities available for a qualified engineer.

You will not struggle to find a job that will suit you best. And, you will not look far and hard to get a job in this industry. There’s different reasons why a petroleum engineer has more job opportunities than other careers. One of these reasons is because not many engineers are thinking of becoming a petroleum or reservoir engineer.Click here to read more info about petroleum engineer.

It doesn’t even matters in what country you’re planning to work in. All the countries do need to have a petroleum engineer, and in most cases there will be an opening for you, in one of the companies in any country.

Great hours

We all are looking for careers where we have great hours that aren’t too long. Especially, when we are thinking about starting a family. The great thing about becoming a reservoir engineer or a petroleum engineer, is the fact that you will have great hours.

There’s not many chances in this career for working night shifts or working after hours. Except if you have a deadline, that’s coming closer. But, normally working as this type of engineer, gives you regular and normal office hours. But, you’re actually not sitting in a boring office the whole day.

It’s important for you to know all the different benefits of becoming an engineer, before you choose your actual career. There’s many different types of engineers, and a reservoir or a petroleum engineer is just one choice. With these most important benefits, you will know if becoming a reservoir engineer is really for you.