Performance Consulting with a Transformative Purpose

Ultimately, it’s what was done and why that will score points. Large organisations typically hire external management consultants to appraise the efficiency and viability of the organisation or to solve specific problems. When it comes to progressing past that starting converted hourly rate—because as an independent, you are assuming more risk and should be billed higher than an in house option—Hopkins suggests showing clients just how much value you bring to their company. Firms are paying increasing attention to work/life balance by offering family friendly benefits, for example, flexible working, part time working, working from home and enhanced maternity and paternity leave. Your resume is then produced as a synthesis of the most salient of these pieces of information. A lot of consulting firms offer an attractive signing bonus for new and high potential hires. Consulting firms invest a lot of time and resources into hiring great people. You’ll be able to hone your skill set as you gain experience. Gumshoe, the Hardboiled Detective in the Thirties 1985 by the same game designer and publisher has a similar premise. Meet Divya, a MIT Sloan School of Management and The Wharton School grad and former McKinsey and Company Associate Partner turned case interview coach. Additionally, create and implement a marketing plan that will help increase your visibility and attract new clients. It’s not https://www.bluewealthsolutions.com/ about your service. Some firms also begin with what is known as the fit interview, but most of the time this is included as the first part of a behavioural interview. Meanwhile, KPMG, the smallest of the four players in advisory and other services, grew its consulting fee income by 6% to reach revenues of $11. It should also include your marketing and financial plans.

Customer service

To do this, focus on creating a value proposition that conveys the distinct benefits and advantages new clients can expect when working with you. It can also help you determine your value proposition the value a company promises to deliver to customers should they choose to buy their product or service. Several insurance products are brought together for the common needs of sole traders and the self employed for robust protection from the liabilities associated with this independence. Learn how to survive through disruption by becoming a modern software delivery organization. Second, you can’t possibly keep pace with today’s rapidly changing technology landscape, can you. By making the time tradeoff explicit, I make it clear that it is a problem of limited time, not a problem of limited respect for the other person. Do you have to charge and report sales tax. If you don’t have the budget to hire a professional web developer when you’re starting your new business, most of the self building website platforms like Squarespace, Wix, and Webflow make it pretty simple to set up a website that looks great. Today the majority of global businesses are stalling. Read more: Deloitte Salary.

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Strategy consultants, involved in corporate planning and decision making, can earn very high salaries and are mainly employed at top consultancies such as McKinsey, BCG, and Bain. Founded in 1915 as Crowe Chizek in South Bend, Indiana, by Fred P. When the project manager returned, she gave her own figures for the same probabilities. You’ll make a short presentation and then shift to facilitating a discussion. A perfect fit for remote play. They address things like business process management, cost reduction and service delivery. In fact, research shows that consumers are 63% more likely to buy from you if you have testimonials. An old general is murdered in his home by a mysterious visitor who quickly vanishes from the scene of the crime. This is calculated by subtracting interest and tax from EBIT. If you have a running consulting business or are looking to the long term choose from the second or third columns. Some popular consulting business ideas include management consulting, marketing consulting, financial consulting, HR consulting, and IT consulting. Apart from management consultants, other common types of consultants include the following. If none of the jobs above feel like a good match, consider these. Or do we leave it blank. ∙ Base: $600,000 850,000. The game had a budget of more than $2 million. Raytheon Technologies. Kay joined McKinsey after studying for a Masters in Psychology at the University of Bath. It’s not about your product. You want to grow, but finding that Read More >>. DEI shouldn’t be just a buzzword. If you must read, do it after you’ve listened to or watched case interviews, and tried at least 10 out loud on your own with a partner. Learn more and schedule today. A technology consultant is hired to ensure a company’s software and technology aren’t hindering its productivity. A must read if you collect or share data in your consulting business. Reading and imagining are something she can do for hours. Highlight your unique skills and experiences: While your resume provides a snapshot of your professional background, a cover letter gives you the opportunity to delve deeper into your relevant consulting experiences.

The leading consulting firms for Technology services:

The company was formed through the merger of Willis Group Holdings and Towers Watson and Co in 2016. Your job as an online marketing consultant will be to help sellers sell their products and services on the appropriate marketplaces. Make sure to check your local laws and register your company name with the authorities in your area so they know you’re ready to conduct business and pay taxes. The geographical location of the firm and cost of living in that area also impact salaries, as consultants in high cost cities typically receive higher compensation packages. The original game contains ten scenarios. You strongly diminish your chance of success without sufficient preparation. “Which factors would you consider when tackling this problem. It invests in research and development, staying at the forefront of emerging technologies. The agreement also defines the duration of the consulting arrangement and the consultant’s compensation. The difficulty in most interviews resides in telling these stories concisely while saying enough to impress and get into the details of your actions. Meet Inspector Lestrade. Specific consulting certifications can boost your profile in the consulting industry. ‌Business consulting is a rewarding career. “Not only did it take marketing experience, it also needed sales, accounting, and other skills that were outside my realm of expertise. People love talking about themselves and what they do, so use that to your advantage. We deliver everything you need to build deeper relationships with your most important audiences. Step 3: Review the theory of case interview approaches. He also knows that this system only works if they’re paying him a large fee, which leads to The Fifth Great Secret. Forming a corporation or LLC establishes your business as a separate legal entity. And I’ve talked about them through the coronavirus crisis. Consultants may charge fees on an hourly or monthly basis, or they may charge a flat fee to cover an entire project – no matter how long it takes.

Marketing Your Book: 6 Strategies You Need To Know

Showcase how you fostered teamwork and collaboration to find a mutually beneficial resolution. Most target markets don’t have a strong channel preference, however there are a few that do. And there you have it. Content marketing is often a marathon, not a sprint, so be sure to create a consistent publishing schedule. As a result, there are multiple ways to enter the profession, depending on where you are in your career path. The Big Four have all seen impressive growth rates of their consulting arms in recent years, far outpacing the growth rates of accountancy, audit and tax wings. So, the stronger your network within a given industry, the more strings you have to pull in spreading awareness, and thus the more successful you’ll be as a PR consultant. You can start with a Certified Management Consultant certification to demonstrate your experience and commitment to meeting the professional standards as a consultant. With its rich history, global reach, sustained growth, and dedication to innovation and sustainability, Boston Consulting Group remains a trusted advisor and partner to companies worldwide, helping them navigate challenges and unlock opportunities for success. Take the time to explore the industry and figure out where you want to work. Additionally, consultants skilled in cost reduction strategies may be in higher demand during periods of economic uncertainty. You can also find pain points in your market by tapping your network. For over 10 years Casey has been leading marketing strategy for 7 and 8 figure businesses in both digital and brick and mortar markets. Try to be balanced in your approach here. 3 billion people start the day by checking their email. Take it from Charlie Munger, billionaire and Warren Buffet’s right hand man. For them, it’s all about building trust and delivering on the needs of their leads. For tailored help, work with our expert team to get your resume ready for consulting applications. “As a consultant or entrepreneur, everything always feels urgent or like you’re in a rush. Huron Consulting Group is a global professional services firm headquartered in Chicago, Illinois. Games included this game’ in its top 100 games of 1986, commenting “The 10 cases supplied are detailed and atmospheric, giving you the uncanny feeling of actually living in a Holmes story. Its consulting services have common themes of connectivity and sustainability, with projects tending to be focused in the following areas: Intelligence/preparedness, water, infrastructure, renewal, discovery, and mobility. Some states require business owners to publish a notice in a local newspaper after they form or make certain changes to their business entities. Strategyand Associate/Consultant has a somewhat higher compensation package, around $94,000 153,000 annually. S digital implementation capabilities, enabling the firm to provide comprehensive solutions to clients in the evolving digital landscape. Most businesses come with some ongoing business compliance obligations. For example, if you observe that every IT consulting business in your area focuses on the same aspect of IT, you would want yours to occupy a different space in this field. We also need to make a distinction here in the different services these firms may offer. That’s exactly what you’ll learn in this book by Barbara Minto. I use it as a quick reference guide when faced with a new client problem or question.

5 Do you rather work in a team or independently?

Social media CAN work exceptionally well to win new consulting business. To learn more, check out the ultimate guide for IT marketing. Marketing consultants evaluate a business’s marketing efforts and provide guidance on improving strategies to meet goals and bring in revenue. In fact, the most common feedback is “be more structured” and that starts the minute the case begins. Researching your direct competitors can help drive early business decisions by arming you with the knowledge of what seems to be working for customers, and what does not. If you choose to call your referral prospects, be sure to present yourself as an expert in your field before describing your services. E2 Consulting Engineers, Inc. During your interviews, they will give you hints about whether you are doing well or not. When I find my self thinking, “I must have this change because I can’t afford failures,” then I’m in big trouble. Here’s where you need to start. Along with your proposal, you’ll need to include a price. The consulting path offers intellectual stimulation as well as lucrative material rewards. And Facilitating Effective Change. A consulting or consultancy firm is a business of one or more experts in their field who provide guidance to other businesses for a fee. As with its competitors, Bain includes Bain case interview examples on its website. Respond to queries to get your voice featured as a thought leader in your consulting niche. In practice, this looks like the following. Putting SOPs in place ensures that you’re able to do the same thing over and over again and deliver the same results with consistency. Only logged in customers who have purchased this product may leave a review. Be clear, be convincing, and close that client. ” There is no right structure, and you should, of course, adapt your structure to be relevant to the case at hand. It maintains a consistent top 10 ranking in Vault’s “Consulting 50,” as well as various leading firm and individual recognition from Forbes, Financial Times, and Consulting Magazine. “I can do the work with the client, get the spec together, and he can find the résumés, the people, the LinkedIn profiles, which is the arduous uphill battle, and I can outsource those hours to him,” she says.

Price

You’ll then want to map out strategies for attracting new customers who experience these specific problems. Experience in the law and current legislature is a must. Image credit: IgorVetushko / Depositphotos. START YOUR WINNING IT STRATEGY WITH DATAPRISE. If you’ve made it this far into the article, you’ve mastered the art of crafting an effective business plan that’s not just a document, but a strategic roadmap addressing the real pain points of new clients. Looking for the best bang for your buck. Start by marketing these new services to your existing clients, and follow up by asking for referrals to prospective clients who might be able to use these services. Let’s put ourselves in the shoes of an interviewer. To craft an effective resume summary for a consulting role, carefully select the key points that align closest with the specific position you are applying for. As one of the top strategy consulting firms in London, Elixirr offers expert guidance for firms in a number of key areas including digital marketing, supercharged growth, regulation, emerging markets, and more. If you’re about to start a consulting business, getting organized is crucial. The information on the website is designed to provide accurate and authoritative information in regard to the subject matter covered. Like a website, content establishes you as an expert and builds relationships with people before they ever work with you. Sherlock Holmes: Consulting Detective is a game originally published by Sleuth Publications in 1981. Of course, many people find themselves with less than six months before their desired interview time.

Advertise your job posting

As an entrepreneur, your energy should be focused on running your business and less focus on administrative tasks like accounting. BCG also has been consistently featured in Consulting magazine’s “Best Firms to Work For” lists since 2001. Consulting Specialties. The collection of case studies is diverse in disciplines considered and level of difficulty, and seems to focus on interesting problems that students will find highly motivating. If not — if you’re just beginning to look into consulting as a career option, start on our Case Interview Prep page to find out what a case study is and why consulting firms use them or on Case Interview Examples to see sample case questions. Usually, this means wearing formal business dress, but this means different attires in different locations. Even when solutions seem technically straightforward, they still need to be delivered persuasively to clients. Depending on the relationship you have with the client, you might be able to ask for referrals even sooner in the relationship. This radar system enhances the aircraft’s capabilities and performance, allowing for advanced target detection and tracking. For example, the Principal consultant salary UK is typically over £110,000 per year keep in mind this is base salary only, and that Principal and Partner compensation are mostly variable. Specific services vary by consulting firm, but here are some of the most common responsibilities of a consultant. Once you have created a budget and registered your consulting business, you are ready to seek the funding you’ll need to get your business off the ground. Easy to use website, great prices and quick delivery. Pick a case practice partner from our diverse community of top candidates, then get practicing. Next, you’ll need to work out the best approach for setting up as a consulting business. It is also possible that companies will hire you on a retainer basis – meaning you will be paid in advance to deal with any issues that might arise over an agreed period of time. Your job in that part of the interview is to make sure that you understand the situation correctly by asking the right clarification questions e. Depending on the person, this could be a deterrent – or an opportunity to develop.

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Make sure you are qualified to provide the service you offer, otherwise you may not be able to maintain a long term business. They aim at testing the SPECIFIC skills you need to be a good management consultant. Their expertise is usually in areas like software development, data analytics, cybersecurity and cloud computing. Not only will we search for any potential name conflicts, we can also ensure that your intended name adheres to any business name rules your state may have. We’ll even dive into legal aspects and relationship building strategies for long term success. For example, break down complex mathematical problems into several small operations. This is an essential step in the beginning as you will likely need to build up your client base. These strategic hubs enable the firm to serve clients worldwide, solidifying its position as a leading management consulting firm at the forefront of innovation. Training Industry has identified five phases of performance consulting, which create a continuous cycle of activity: contracting, analysis, recommendations and agreements, implementation, and assessing results. According to developer David Marsh, the Kickstarter money was never needed to fund the games, and Zojoi was just using the Kickstarter to raise awareness about them. Knowing shortcuts for a variety of calculations can simplify mathematical problems. An attorney and accountant can help you identify what you’ll need to do. For over 30 years Alan Weiss has consulted, coached, and advised everyone from Fortune 500 executives, state governors, non profit directors, and entrepreneurs to athletes, entertainers, and beauty pageant contestants. Management consultants often earn competitive salaries due to their broad expertise in various industries. Your client, a manufacturer, is facing a decline in profits. Ex: the BCG management consultant salary for someone in Atlanta will be the same as the salary for a BCG consultant in New York. EY’s extensive global network and multidisciplinary expertise position it as a key player in the professional services industry, providing comprehensive solutions and driving business success for clients worldwide. Judging from present rates of expansion, by the end of 2017, the global consulting industry is forecast to top a worth of $155 billion, with the industry having booked consistent 5% growth for the previous two years. That said, you need to make sure your pricing is competitive and you’re not charging too much. Up until this point, the process could almost be applied to any job. EY Manager Salary Manager Level. Unlock Seamless IT Excellence: Harness Our Decade Long Expertise. You can also create profiles on social media platforms LinkedIn, Facebook, Twitter, and Instagram. Simply offering consulting services is no longer the case for advising agencies. Both are incredibly powerful when it comes to marketing your services.

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There is a “threshold” point, at which one’s beliefs and values are overridden by immense peer pressure. Just like resumes, cover letters for consulting jobs are beasts all of their own and need to be tackled very differently to the ones you might be used to from other industries. While most historical consulting salary increases are in the 2 4% growth range, the last three years have brought us increases of 10% YoY, signaling the effects of a tightening labor market and increased demand. More than just a management company,. Some of these firms provide insights into what they are likely looking for in a fit interview. If you have deep knowledge of something and want to help others succeed, starting a consulting business could be perfect for you. World class coaching tailored to senior leaders and high performing teams. 28 emails packed with tips. You could also start offering risk management services that include a thorough review of clients’ portfolios. GBS is broken down into the two primary practice areas: business consulting and systems integration and application management services. Is missing when they pay the most post MBA. If you’re the go to person on a certain topic, you may be considering turning that expertise into a consulting business. He summarises these thoughts in 10 working propositions. Each case is unique, and you should therefore create a custom framework for every case you do. I know it’s a somewhat aggrandizing name. During case interviews, you’ll typically be asked a few behavioural questions in addition to the case related questions we covered above.

Welcome to EY com

And since they want that issue done fast, they don’t have time to listen to you mumble about random things. Tools to enable optimal remote work can help minimize or prevent disruption in your operations. In other words, consulting firms are often larger than consulting companies. You should try to look your interviewer in the eye and speak as confidently as possible. You may unsubscribe from these communications at any time. Business cards are easy to carry everywhere you go, you never know when a marketing opportunity may arise. Significant variability. Then do the actual calculations. Being a successful IT consultant requires you to have a lot of technical knowledge and be able to explain complex concepts in a way that people without a technical background can understand. The game uses live actors and sets as the player controls Sherlock Holmes and his longtime partner Dr. LegalZoom provides access to independent attorneys and self service tools. It can also be smart to consider public liability insurance. Proactive client communication. If your business grows significantly and you start to hire employees, having standard operating procedures in place will help to onboard them and ensure they complete work to the same standard as you do. Another aspect of case leadership is gathering facts effectively. Learn new skills and explore what it’s like to work as a consultant at top companies with Forage’s free consulting job simulations. “My hourly rate as a consultant is orders of magnitude higher than what I could earn, for example, as a senior accountant or IT professional,” du Toit says. This can lead to career progression and increased earning potential in the field. Mail and package handling. A copy and paste job will be obvious, and it will make the recipient feel as though you don’t really care. In general, the question types of the consulting firms can be easily divided into different categories. The cost of living in America is higher as well, as Americans find themselves paying for things many Brits don’t dream of paying, as the UK has more of a societal safety net compared to the U. Then, connect your unique skills and interests with client needs.

A students or grad’s ultimate guide to psychometric tests

If you’re looking for more information or guidance on starting a business, we have a range of free resources available to help, including. Let’s dive into the best consulting books. This company is a typical example of a technically upgraded online consulting marketplace. Some decide that they would prefer to use the problem solving skills they’ve developed in consulting to work in private equity or other industries. However, a drawback of the depths of these relationships is that decisions and initiatives often have to be vetted by multiple Partners, who are all protective of their practice areas and the relationships they have with each client. While technically, there may be no difference in functionality. Utilization rate = 79%. Here are the resources we recommend to learn the most robust, effective case interview strategies in the least time consuming way. 173 Avenida Santo Toribio. Update Your Math Skills. PwC junior consultants have a maximum annual salary of $108,000, with $90,000 as base. For more information, please see our Cookie Notice and our Privacy Policy. There are several general informants also portrayed by actors who can be visited in multiple cases across the Consulting Detective games, including characters from Arthur Conan Doyle’s Sherlock Holmes stories, namely Inspector Lestrade of Scotland Yard, former criminal Shinwell Johnson, and gossip columnist Langdale Pike. You just need to stop chasing “shiny objects” like funnels, chat bots, etc. If you’re in your degree program and want to get into consulting, then you should definitely sign up for PrepLounge, the world’s largest case interview community. “Would you mind telling me what skills are important for this job. In addition, once a candidate is hired, they could be placed on a team with any of the consultants they’ve met with or any other consultant at the firm. This is how you make a good first impression and keep the conversation going a consultant is expected to perfect everything from the start to the end. With a dedicated and talented team as well as a customized approach to problem solving, FTI Consulting scores a 5 star rating. Perth, Western Australia 6000, AU. HR consulting typically involves a different set of skills focused on areas such as talent management, organizational development, and employee relations. Practice out loud to build your confidence and identify weak spots that otherwise won’t surface until it’s too late. In line with its growth strategy, Infosys Consulting recently announced the acquisition of Oddity, a renowned digital experience and marketing agency.

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Read our comparison guide here. In practice, it means that you should take some time to organise your thoughts before speaking and that you should avoid jumping to conclusions. Please note that in most cases, consultants have to work for the firm for a specific amount of time after completing their studies – or pay back the cost of the degree. Deloitte Consultant Salary MBA/Experienced Level. You’re in action and you’re tapping your network, which is always the best way to start. Successful consulting businesses begin with an individual or team of experts passionate about helping others. Find 6 classic cases, reworked specifically for the new Sherlock Holmes Consulting Detective range. Our people are challenging, experienced and diverse. But to provide small solutions to some problems. It was also positioned as a Leader in the Gartner Magic Quadrant for Outsourced Digital Workplace Services, showcasing its ability to deliver comprehensive digital workplace solutions. The company has a strong presence in the United States, with additional offices located in Atlanta, GA, and Boston, MA. Over the years the firm has been criticized for its role in many controversies, including the 2008 financial crisis and the opioid epidemic in the United States, and for its work for authoritarian governments. How you envision your business structure to be in the future may impact what type of business you create today. I would highly recommend them. When you skip the step of business formation, you inadvertently open your personal property as collateral to pay your business’s debts. Be sure to consult with your financial advisor for expert advice.

1 Drills

As we mentioned above, consultants get paid for their advice. Weinberg gives many ideas on how to perform this role. Market sizing, market entry, profitability, growth. You should always begin this part of the interview by summarising the situation back to your interviewers to ensure you’ve properly understood the most important details. This was a great result for our client, as they were well prepared to talk about it. With the toolkit you’ve assembled, the path to success is clear, and the summit is within reach. Smith, and later merged with General Dynamics Corporation in 1985, becoming General Dynamics Information Systems GDIS. Like starting a blog, publishing thought leadership content can help you establish your authority. Legal Nurse Consulting, Principles and Practices is one of the primary reference books on my bookshelf and was used extensively when preparing my lectures for the 60th Annual Postgraduate Anesthesia Symposium at the University of Kansas.

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Most strategy consultants hold advanced degrees and possess specialized knowledge, which contributes to their higher pay. Even if that’s a far off goal, it’s wise to have your business plan prepared now, and ready to go when you need it. In the second round, the material requires deeper analysis and applicants work with more senior interviewers. Here are 2024 internship salaries. Your email address will not be published. Some general consultants help clients with a wide range of knowledge, and there are experts in specific areas like accounting, marketing, or human resources consulting. This helps them save money or take their time hiring to find a qualified candidate. The tennis ball is of the normal size. This arises from the fact that all of these careers are heavily focused upon finance and predictive analytics. Bain and Company is a global management consulting firm with headquarters in Boston, Massachusetts. We’ll start with a brief questionnaire to better understand the unique needs of your business. Before you decide that consulting is for you, you could do some work on determining your strengths and weaknesses. ” – most likely the interviewer will give you the green light, but if you’re lucky he/she may even suggest a better approach. Interviewers ask for your experience in a situation you have encountered to assess the qualities, motivations, and personality traits to see whether the candidate can fit in with the firm. Are you specialized in a certain field or niche industry and believe you could offer quality advice to others. The acquiring company is motivated by either short term or long term considerations – a financial buyer buys to increase short term value and sell, while a strategic buyer acquires to hold the target for the long term. We’ll go into the 8 parts of a case interview in just a bit, but here is a kickstart. The most basic way to make money online is pretty apparent. Conducted data analysis and created financial models to support client recommendations and decision making. The process is simple and only takes only a few minutes to complete. We’ll help you understand your business and customer insights while developing a compelling vision, strategy and overall blueprint for driving competitive advantage. However, it’s worth noting that Glassdoor is known to be a platform where users can anonymously share their salary and compensation information. Taking wild guesses is a death sentence for your case interview. However, the data doesn’t support this. Accenture offers senior consultants $108,000 in average base salary in the US. But they are more of a long term play. Frost and Sullivan is a renowned global growth consulting firm that specializes in delivering market research and analysis, strategic consulting, and corporate training services to various industries. This could mean that 20% of your clients represent 80% of your income, for instance.

$12K

Working with a partner can introduce you to a broader client base, which can lead to more contracts in the future and a larger referral network. When you start a consulting business, nothing is more important than creating a solid business plan from the outset. Explain your value and ask for business AND referrals. Looking at salaries from top management consulting firms gives us an idea about the scope of what’s on offer at various financial centres around the world. The firm also took the lead in releasing the Global Cooperation Barometer 2024, made in collaboration with the WEF. Depending on what firm you’re interviewing for, the interviewer may control the case interview by asking you a list of questions, or you may be expected to take the initiative in the discussion. Want a detailed, step by step process to help you start consulting in 90 days. Your most powerful method of helping other people is to help yourself. An expert network is a type of consulting business that connects the client with experts, specialists, and consultants. ” This means you can tell clients you have a repeatable process that you have executed many times in the past and gives them confidence that you will be able to solve whatever problem they have. Subscribe to our newsletter to receive emails about important announcements, product updates, and guides relevant to your industry. Staff, offices, and equipment and are typically better equipped to handle large projects. He may find that employees are aware of the importance of cybersecurity, but they simply need a reminder of what steps to take to protect their data. They only care about the “big picture” – “Why is the problem happening. Form strategic partnerships with other consultants or professionals whose services complement yours. Dragon gave the TurboGrafx CD version of Sherlock Holmes 5 out of 5 stars. Let’s assume you were trying to assess the cost of cybersecurity and disaster recovery and no one on your team had done that before. Leslie Finlay has been helping businesses express their brand voice through content since 2012. We’re your partners in shaping a future ready IT roadmap. Base: $82,000 160 ,000. Top firms typically make offers to only about 1% of the people who apply. As a management consultant, you’ll need to.