Management Consultants play a vital role in helping the business grow, increase its profit, and improve the overall process. They are business consultants who advise organizations on key metrics to help the business grow in various factors, helping tackle internal issues and maximizing profits.
What are Management Consultant Courses?
According to the latest studies, the Management Constancy is one of the most popular jobs among students in India. As a Management Consultant, there are many specialization fields like Finance, Human resources, Outsourcing, etc.
- An average Management Consultant earns around INR 8,00,000 per annum. With such great pay scale and remunerations, the management consultants are witnessing rapid growth in numbers.
- Students who want to pursue a career as a management consultant can begin with pursuing a bachelor's degree in BBA (Bachelor of Business Administration) or BA Economics or B. Com in Business Administration, which generally costs around INR 50,000 to INR 2,00,000.
- To get a bachelor's degree, students have to appear for various entrance exams like DUET (Delhi University Entrance Exam), SET (Symbiosis Entrance Test), JNU EE.
- After they complete their bachelor's, some students pursue a job to gain experience whereas some students enroll themselves in master courses like MBA or MPhil.
- While some students prefer a full-time master's program, some students opt for distance education or a part-time master's program to work simultaneously completing their education. There are many universities and recognized institutes that provide management courses.
Eligibility Criteria for Management Consultant Courses
If we talk about educational qualifications, a Bachelor's degree is the minimum requirement for a consulting career. After completing the degree, the student can choose the major they want to pursue like IT, Finance, Human Resource, etc.
Certification Courses
Many certification courses help students in advancing their knowledge and standing out in their field. These certification courses provide testimony to the recruiters regarding your profile. Some of the certification courses that add great value to your resume are:
| Course Name | Average Course Fees |
|---|---|
| CIMA Certificate in Business and Accounting | INR 2,00,000 to INR 4,00,000 |
| Post Graduate Certificate Program in Business Management | INR 1,10,000 |
| Executive Certificate Program in General Management | INR 1,60,000 |
| Advanced Certificate in Managing Brands and Marketing Communication | INR 70,000 |
Diploma Courses
For the students interested in a Diploma, here is a list of Diploma courses that you can plan to pursue:
| Course Name | Average Course Fees |
|---|---|
| Post Graduate Diploma in Management | INR 3,00,000 to INR 12,00,000 |
| Post Graduate Diploma in Finance and Consulting | INR 10,000 to INR 6,00,000 |
| Postgraduate Diploma in Human Resource Management (PGDM HR) | INR 8,00,000 to INR 25,00,000 |
Undergraduate Courses
As stated earlier, for management consultancy, the minimum requirement is a bachelor's degree. It is preferable to choose a degree in a related field. Following is the list of the courses that students can follow:
| Course Name | Average Course Fees |
|---|---|
| BBA (Bachelor of Business Administration) | INR 50,000 to INR 2,00,000 |
| BBA Human Resource | INR 4,00,000 to INR 7,00,000 |
| B. Com in Business Administration | INR 10,000 to INR 50,000 |
| B.A. in Economics | INR 15,000 to INR 40,000 |
Postgraduate Courses
Pursuing a master's degree after completing a degree is one of the most popular options. To gain relevant knowledge, students pursue a master's program. Following are some popular choices among students:
| Course Name | Average Course Fees |
|---|---|
| MBA (Master of Business Administration) | INR 1,00,000 to INR 6,00,000 |
| Master of Arts in Human Resource Management | INR 10,000 to INR 90,000 |
| Master in Business Consulting | INR 10,000/- INR to 50,000/- |
Types of Management Consultant Courses
When the person wants to learn and grow, there are various options that he or she can explore. Coming to Management Consultant courses, one gets the option to choose courses that suit the time and budget. In India, the top B Schools and many renowned institutes, provide various courses that help the student learn irrespective of the course he or she chooses. As far as Management Consultant Courses are concerned, we have many distance learning courses, Full-time courses, and also some online courses.
Full time Courses
The full-time courses are amongst the most preferred courses by the students. Irrespective of the degree level, the students prefer to gain knowledge through full-time courses, taking classes on the institute's campus. The main advantage of the full-time courses is that students get the option to avail the campus placements held by the institutes. Some popular full-time management consultant courses are:
| Course Name | Institute Name | Average Course Fees |
|---|---|---|
| BBA | Narsee Monjee Mumbai Shaheed Sukhdev Singh College of Business Studies Chandigarh University Jamia Millia Islamia |
INR 1,00,000 to INR 4,00,000 |
| BMS (Bachelor of Management Studies) | St. Xavier’s College Narsee Monjee College of Commerce & Economics Shaheed Sukhdev College of Business Studies KJ Somaiya College of Arts & Commerce HR College of Commerce & Economics |
INR 1,00,000 to INR 3,00,000 |
| MBA | IIMs Amity University Doon Business School GIBS Business School LPU Jalandhar FMS Delhi |
INR 1,00,000 to INR 6,00,000 |
| MSc in Management | IIT Madras Sahyadri College of Engineering & Management GD Goenka World Institute |
INR 25,000 to INR 8,00,000 |
Distance Courses
Even if the passion to study is strong, sometimes the situation isn't favorable. Therefore, for the students, who want to study but cannot pursue full-time courses, distance education courses might be the best option to look for. These courses are favorable for anyone who struggles with financial issues or cannot relocate to a new place. Some of the best courses for distance learning are as follow:
| Course Name | Institute Name | Course Fees |
|---|---|---|
| BBA | Chandigarh University- Institute of Distance and Online Learning | INR 51,300 |
| MBA | INR 55,300 | |
| BBA | SRM Institute of Science and Technology | INR 18,000 |
| MBA | INR 60,000 | |
| Diploma in Management | University of Petroleum and Energy, Dehradun | INR 1,45,000 |
| Diploma in Management | Narsee Monjee Institute of Management Studies | INR 47,000 |
| PGDBM | INR 86,000 | |
| BBA | INR 1,31,000 | |
| PGDM | All India Management Association (AIMA), Delhi | INR 1,26,000 |
| Post Graduate Certificate in Management | INR 25,500 | |
| PGDMIT | INR 1,02,000 |
Online Courses
Some of the most popular online courses that add value to your profile are as follows:
| Course Name | Provider | Average Fees |
|---|---|---|
| Business Analysis Fundamentals for Management Consultants | Udemy | INR 3,520 |
| Google Project Management: Professional Certificate | Coursera | INR 1,201 per month |
| Management Consulting | Harvard University | INR 2,25,000 |
| Management Consultant 101 | Universal Classes | INR 5,625 |
| Business Management | MICA | INR 1,20,000 |
Management Consultant Courses: Top Colleges
When it comes to choosing the right college for your course, a student has the option to choose among various Top B-Schools and institutes in India. Though the college may vary from course to course, here is list of Top colleges that offer an excellent course related to management consultant,
| Institute Name | Average Fees |
|---|---|
| Narsee Monjee Mumbai | INR 5,00,000 |
| Chandigarh University, Chandigarh | INR 2,00,000 |
| Lovely Professional University (LPU), Jalandhar | INR 3,20,000 |
| Xavier University, Bhubaneswar | INR 1,52,000 |
| IIM Ahmedabad | INR 23,00,000 |
| IIM Lucknow | INR 11,00,000 |
| IIM Bangalore | INR 18,00,000 |
| IIM Calcutta | INR 20,00,000 |
| DMS IIT Delhi | INR 8,00,000 |
Salary after completing Management Consultant Courses
As per the latest study, the average salary of a management consultant is around INR 11,28,850. The entry-level consultants earn around INR 6,45,000 per annum and a person with experience of around 1-4 years, earns around INR 8,73,000 per annum.
| Course Name | Average Salary |
|---|---|
| BBA | INR 4,50,000 to 7,00,000 |
| BMS (Bachelor of Management Studies) | INR 2,00,000 to 5,00,000 |
| MBA | INR 3,00,000 to INR 9,00,000 |
| MSc in Management | INR 2,00,000 to 10,00,000 |
| BBA Human Resource | INR 3,00,000 to INR 5,00,000 |
| B. Com in Business Administration | NR 3,50,000 to INR 6,00,000 |
| Post Graduate Diploma in Management | INR 3,00,000 to INR 15,00,000 |
| Post Graduate Diploma in Finance and Consulting | INR 2,00,000 to INR 15,00,000 |
Top Recruiters for Management Consultant Courses
Management consultant jobs are relevant to every industry be it I.T. Industry, Finance Companies or HR recruitment agencies. Based on the roles and responsibilities, many companies provide job opportunities to the students who have pursued their education in management consultancy.
The following are the top recruiters,
| McKinsey and Company | Boston Consulting Group |
| Deloitte | Accenture |
| Bain Consulting India Private Limited | AT Kearney |
| EY | HCL Technologies |
| PwC | Wipro |
| Infosys | Capgemini |
| KPMG | - |
Scope of Management Consultant Courses
The main task of a management consultant is to help the organization work on its weakness, improve its strategies and maximize profit. The career in this field is growing exponentially in India as well as globally also. Many top management consultant companies are hiring deserving candidates for various positions in this field only.
The employee number is expected to increase by 24% by the end of this decade and is among the fastest-growing job. The average salary for a management consultant is around INR 22,00,000 per annum and the highest salary rises to as high as INR 32,95,864 per annum.
Management Consultant Courses: FAQs
Ques. What does it take to be a management consultant?
Ans. To be a management consultant, you need to have at least a bachelor's degree in the relevant stream. Apart from educational qualifications, you should possess excellent communication and logical reasoning skills.
Ques. What is the future of management consulting?
Ans. Every industry is now trying to flourish, keeping this thing in mind, the need for a management consultant will increase irrespective of the industry. By the end of the decade, the demand for a management consultant will increase exponentially.
Ques. What is the best way to get a job in management consulting?
Ans. You can start your career in management consulting immediately after completing your bachelor's degree. Also, you can pursue your master's full time or through distance education. Initially, you need to work at an entry-level job like Business Analyst. With passing time, you will be promoted to associate level and then to a senior management position.
Ques. What are my career prospects as a Management Consultant?
Ans. As a management consultant, you can work as a Taxation Consultant, Business Analyst, IT consultant, etc. You can choose to work in an IT company like Wipro, Accenture, or consulting firms like McKinsey, BCG, etc.
Ques. I am pursuing PGDM to become a management consultant. What other career options do I have?
Ans. You can choose to become an HR Manager, Operation Manager, or Sales Manager after doing PGDM.
Ques. What degrees are best for management consulting?
Ans. It is advisable to choose your field of interest for majors first before selecting the degree. Based on your field of interest, choose the course
Ques. Is it compulsory to pursue MBA to become a management consultant?
Ans. No, it is completely up to the person. No company has the policy to choose only MBA students. If you want to study further in your field of interest, you can opt for an MBA and then continue your work career.
Ques. Do management consultants have a job scope abroad?
Ans. A lot of countries like Singapore, Australia, Africa require a large number of management consultants for their growing industries. Some companies based in India, do have international clients and if you are capable enough, you will get a chance to showcase your skills in front of international customers.
Ques. What is the minimum package of a management consultant in India?
Ans. The minimum package of a management consultant is INR 6,17,702 per annum.
Ques. What immediate goals should a first-year management consultant strive for once in a firm?
Ans. You need to be consistent in your tasks and should be punctual and sincere in tasks assigned to you. Be in touch with your seniors and HR and keep updated with the latest trends.
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