Updated: Mar 12, 2021
The latest figures show that UK businesses spent £10bn on consultants in
2020. Management Consultancies Association (MCA) members, which include major firms such as PwC and KPMG, generated £5.46 billion that year.
What is Consulting?
Consulting consist of professionals that provide expert advice in areas such as:
business, finance, investing, law, real estate, social media and education. These
experts spend years in their respective fields. This enables the consultant to give
their customers an incite they the client could not achieve on their own. There
are an estimated 60,000 consulting firms worldwide.
In this “age of information” consulting has become more accessible to everyone,
so naturally the demand has grown over the past ten year. With the internet
creating new industries every year. Consulting is becoming more and more
The UK consulting industry
The UK consulting is one of the fastest growing industries in the world. According
to www.consultancy.en which has ranked the top 20 consulting firms in the UK.
KPMG tops the list closely followed by Deloitte then Accenture. There are also
new independent firms starting in the UK every year. The average salary of a
consultant in the UK is 90,000. Which is very lucrative professional that does not
seem to be slowly down any time soon.
Top 3 UK Consulting firms in 2020
KPMG focuses on business management consulting with a focus on audit advisory and tax service. They have increased by 5 billion USD in revenue since 2010
Deloitte focuses on tax audit and risk management. The currently provide consulting services to 90% of the fortune 500 companies
Accenture focuses on a wide range of industries, from banking to aerospace, from engineering to construction. They are well diverged in the consulting industry
How to become a consultant in a top UK firm
Competition is fierce in the job market to land a position at a top consulting firm in
UK. It comes down to education, interpersonal skills and desire. Most firms require
a bachelor’s degree in Business Management, Marketing or Accounting. For management positions a MBA (Masters in Business Administration) would be needed.
If you wanted to start your own firm, you would not need a
degree, but you would need a high level of expertise in your industry of chose and
and develop a good track record of success to attract new customers. Beside a
degree, you will need to have the ability to research industries and stay up on the
trends. That way you can give the most accurate information to your clients. This
is common and every person at a consulting firm should be able to do this. What
will set you apart are your interpersonal skill.
In today’s business world how, you relate to people makes all the difference.
Emotion Intelligence is the fastest growing trends in the business world. The
Ability to relate to your clients and coworkers on a more of a personal level. You
are not just selling the service, you are selling yourself. This way you can create a trust
between you and the client. Show that you care about their success and you are
not looking to just “get paid”. You can do this by researching the company your
are interviewing for and ask in depth question and their philosophy, vision and
mission. Doing things like this will show the firm you are interviewing for your
dedication, and research ability. Finally, you need desire. You might not get hired
at the first firm you are interviewing for, like: KPMG.
You are going must have to do things people are not willing to do.