Are you a logical thinker with good planning, execution, and problem-solving skills? Then, you can consider becoming a consultant in Australia.
Consultants possess an in-depth understanding of an organisation's particular industry or challenges. They recommend changes in the operations, workforce, or workflow to help companies streamline their processes and become more productive, efficient, and profitable.
To become a consultant, you must complete a Bachelor's degree in accounting, business, finance, business administration, commerce, or a related field. Completing a consulting internship and course improves your chances of success.
This article will help you understand the role of a consultant, earning potential, job prospects, and pathway to pursue this profession.
1. What Is A Consultant?
Consultants specialise in a specific niche and help solve specific challenges or problems of businesses so that it stays competitive and profitable.
They offer professional advice, expert analysis, views, and recommendations to businesses and individuals in their areas of expertise to prevent issues and improve performance.
Consultants may work for larger consulting firms or as self-employed independent contractors to provide services to different industries or organisations.
2. Consultant Duties And Responsibilities
Consultants may have varying duties and tasks that largely depend on who they work for. Some of them are:
Work with investors and stakeholders to identify the goals
Understand the existing systems and processes in an organisation
Review documents and plans, read reports and observe procedures
Offer knowledge, guidance, and information to the client based on their requirements
Interview the company's staff
Design project plans, schedules, key performance indicators, and objectives
Meet with clients to discuss their concerns or challenges
Analyse and diagnose problems and design appropriate and lasting solutions
Supervise the efficacy of new systems, procedures, technologies, and processes
Train the sales team of the company
Offer strategic advice to assist companies in dealing with procurements and mergers
Find and hire talent that holds expertise in a niche
Communicate with multiple stakeholders effectively.
3. Different Type Of Consultants
Consultancy is a large industry. Consultants work in different sectors based on their specialisation. Here are the everyday duties of different types of consultants:
Management Consultant Duties And Responsibilities
Gain thorough knowledge of the client's business.
Study statistical records, workflow charts, manuals, reports, and job profiles to understand the organisation better.
Interview employees to gather data and analyse it.
Use financial modelling to learn about industry trends.
Develop business proposals and present them to key executives.
Communicate with company stakeholders, especially senior executives.
Identify existing issues and potential risks and implement solutions to improve a company's productivity, image, and management.
Provide elaborate reports and statistics-based evidence to support their findings and recommendations
Ensure practical and economical implementation of the strategies.
Help organisations solve issues and effectively use resources to achieve greater efficiency.
Achieve customer satisfaction
Discuss limitations and inadequacies of the businesses with clients
Analyse existing systems and structures at all organisational levels
Review admin and clerical procedures
Consult with concerned experts when introducing new systems and technologies.
Recommends proposals to alter and redefine methods, workflows, procedures, and job functions to resolve issues in the organisation
Ensure projection completion within deadlines and the agreed budget.
Offer strategic advice to enhance the operational and financial health of the client's organisation.
Assist organisations in solving complex issues and improving overall performance.
Offer advisory services to public, private, and non-profit organisations.
Marketing Consultant Duties And Responsibilities:
Conduct in-depth market research and competitive analysis
Based on their findings, design effective marketing plans and techniques to promote the product to its target audience
Develop well-researched strategies to increase brand awareness, sales leads, business sales, and revenue generation.
Integrate marketing tactics and strategy into the existing marketing plan of the client
Sales professionals help develop the sales process of an organisation.
Find ways to enhance sales performance and train sales representatives.
Healthcare Consultant Duties And Responsibilities:
Evaluate the profits, structure, and efficiency of the organisation and suggest methods of improvement
Reduce operational costs, enhance revenue, and recommend new procedures to improve the operational efficiency of a healthcare/ medical organisation
Business Consultant Duties And Responsibilities:
Assess the current business situation
Identify areas of improvement in the operational efficiency and performance of a business
Design and develop sound business plans to improve organisational communication and work performance
Develop and update business goals regularly to enhance the likelihood of accomplishing them.
Motivate employees and morale to bring new business
Supervise the execution of client strategies
Train the employees on using specific software to improve efficiency in a company.
Coordinate with executives to ensure proper positioning and global implementation of overall business solution
Develop good relationships with vendors to support business objectives.
Offer unbiased advice to companies to enhance their business procedures and performance.
Education Consultant Duties And Responsibilities:
Work in the education industry and in a diverse range of industries to assist organisations with educational objectives
Train and advise education committee members on new technologies, student achievement, classroom policies, etc.
Accounting Consultant Duties And Responsibilities:
Supervise the existing accounting procedures of the company
Work with clients to recognise improvement areas in business processes.
Offer recommendations and advice on necessary changes.
Monitor the execution of feasible and compliant solutions.
Perform accounting work for organisations that includes periodic reporting, financial analysis, and internal controls
Apply their vast knowledge to improve processes within financial departments
Research and explore accounting processes to find and solve issues
Research the industry, profits, and competitors of the company
Develop new tasks and processes for finance departments to improve their efficiency
Create accounting reports based on their studies and present them in an understandable way to the management team and stakeholders
Technology Consultant Duties And Responsibilities:
Work for various organisations to help them build and enhance the IT structure of their clients.
Understand the objectives, technical requirements, timescales, budget, and scope of IT projects of clients
Analyse the infrastructure, security threats, and technology systems of their client's company
Examine and solve different types of IT issues to improve the overall operational efficiency and business performance
Recommend the proper ways to use IT solutions to meet their business objectives effectively.
Install and troubleshoot IT hardware and software of the clients.
Ensure the company is on the right path to accomplish its objectives
Propose any required changes to support business operations and information security of an organisation
Provide technical guidance and assistance to create and accommodate necessary changes.
Liaise with client's staff and end-users
Train new hires or junior IT consultants
Legal Consultant Duties And Responsibilities:
Provide expert legal guidance to the company, business, or individual on a contractual basis
Use their legal knowledge to assist the profitability, compliance, and risk mitigation of the company
Conduct research, draft legal contracts, review briefs, and perform negotiations on behalf of clients
Public Relations Consultant Duties And Responsibilities:
Helps manage and improve communications between the general public and the business
Write press releases on behalf of their client
Manage the contacts and media relationships of the client
Write and modify communications collateral to advertise the company of their clients
Employment Consultant's Duties and Responsibilities:
Create employment opportunities
Coordinate placements for job applicants
Network with potential employers and help them recruit individuals
Ensure all required documentation is correct and completed within a set time
Strategic Consultant Duties And Responsibilities:
These consultants assist management in creating and implementing long-term plans and strategies to accomplish varying business objectives.
4. Consultant Skills For Success
Do you want to work in top consulting firms or run your own business? Then, you must develop or refine the following consultant skills:
Strong time management and organisational skills
Interested in processes, people, resource management
Proficiency with mathematics and computers
Supervisory and management skills
Effective presentation and public speaking skills
Comprehensible written and verbal communication skills
Able to work to deadlines
Able to work well with others
Able to work independently
Critical and Analytical thinking
Expert problem solver
Attention to the tiniest detail
Great leadership skills
Able to delegate work
Good listening skills
Good verbal and written communication skills
Adaptability to the dynamic work environment
Able to build positive relationships
Discrete and Tactful
5. Qualifications To Become A Consultant In Australia
Do you want to know how to become a consultant for a company? You must fulfil the following requirements to achieve your aspirations.
Complete your senior secondary certificate of education in English and mathematics
Complete an undergraduate degree in commerce, finance, business, accounting, or business administration, with a major in entrepreneurship, human resource management, or management
Those who aspire to become management consultants should get professional certification from the Institute of Management Consultants. This is the Australian professional body that represents management consultants. It awards the Certified Management Consultant designation to competent management consultants.
6. How To Become A Management Consultant In Australia?
Step 1: Gain An Undergraduate Degree
The minimum requirement to become a consultant is to complete an accredited undergraduate program in commerce, finance, business, accounting, business administration, or a similar field. A full-time Bachelor's degree takes four years to complete.
Step 2: Undertake a Consulting Internship
Find a reputable consultancy firm that provides internship opportunities to students in the consulting field. This training can range from one to four months.
During the internship, you will work with experienced consultants and learn to use productivity tools, solve issues, and effectively communicate within the business.
Step 3: Get Certified
Certification is not mandatory but can improve your standing with potential employers. Aspiring consultants should consider getting a Certified Management Consultant from the Institute of Management Consultants.
It shows that you have the necessary expertise to work in consulting.
Step 4: Expand Your Professional Network
Keep your resume up to date and track job openings regularly. Social media groups, community forums, workshops, seminars, etc., are other ways to expand your professional network and find relevant job openings.
Step 5: Apply For Consultancy Jobs
Update your resume by mentioning your job-specific skills, qualification, and internships. Start applying for consultancy job vacancies in your field.
As you are in the initial stage, you should look for an associate-level role in a consultancy firm. Some companies do not hire directly by advertising openings via job ads. In that case, you can actively approach them and submit your resume.
7. How To Become A Business Consultant In Australia?
Do you want to start your consulting firm but need help figuring out how to begin? Here are the steps and practical strategies to help you learn how to become a consultant without experience.
Step 1: Choose Your Niche And Specialise In It
Consultancy is a broad field. You need to identify a specific area that interests you. Once you know the area, you must focus on gaining the knowledge and skills required to work in that niche.
Step 2: Develop A Business Plan
To run a consulting business, you need more than just education. You also require a clear business plan to turn your skillsets and expertise into profit.
A business plan includes your consulting business's mission, vision, and values statement. Moreover, it also consists of a marketing plan that lists your services, prospective clients, marketing budget, and marketing methods.
You also need to perform financial projections to ensure efficient setup, execution, and maintenance of your consulting business.
Step 3: Build Your Business Brand
A clear brand identity is required to convey your business message to the target audience. Brand building is essential to make people aware of your business and the services it has to offer.
Step 4: Create A Solid Digital Presence
With people becoming increasingly tech-savvy, building an online presence to attract potential buyers of your business is essential.
A website and social media profiles, especially a Facebook Business Page, can help you build trust and get more clients. Regularly post on these platforms to educate, inspire, engage, and entertain the audience.
Step 5: Promote Your Business
Promoting your business services is essential to get paid traffic and more clients for your business.
Facebook ads, email newsletters, referrals, and advertising in publications are a few time-tested marketing strategies that you must try.
8. How To Become A Consultant In Education?
Step 1: Get Qualified
Complete an undergraduate bachelor's degree in education or a related field. It will help you create a curriculum creation and develop educational leadership.
Step 2: Gain Classroom Experience
Education consultants should have some teaching experience before they can become a consultant.
Step 3: Advance Your Educational Consultant Career
Those interested in advancing in their career should consider completing a postgraduate qualification. It will teach you how to design an engaging syllabus using research, student assessment, and curriculum design skills.
Step 4: Understand Educational Regulations And Policies
Whether working with individual students or schools, you must understand government laws and policies concerning education, educational institutions, and students.
9. How To Become A Consultant In Healthcare?
Step 1: Complete A Bachelor's Degree In Healthcare Practice Management.
It helps students widen their knowledge about the internal operations of the healthcare industry. The course also develops the necessary healthcare, technology, and business skills to work as a consultant in the healthcare sector.
Step 2: Earn A Master's Degree
Gaining an advanced healthcare education like a 2 to 3-year Master's in health administration is beneficial to gain a deeper understanding of the business aspect of healthcare.
The program enables students to focus on healthcare administration which can, in turn, lead them to become specialised consultants. The program may include up to one year of supervised admin experience in a hospital or other healthcare consulting environments.
Step 3: Develop On-the-Job Experience
Many employers look for employees with related work experience in a clinical or administrative capacity. Those who undertake a master's program get a hands-on learning experience in a healthcare setting as a part of the program. Others can look for internship opportunities in a healthcare consulting firm.
10. Working Conditions For Consultants In Australia
Management consultancy involves a highly competitive work environment, overseas travel, and long working hours. To meet deadlines, consultants may require to work overtime, including working on weekends and late evenings.
A high percentage of employed consultants, i.e., 79%, work full-time compared to the industry's average of 66%. Full-time workers work for standard 44 hours per week.
The average age of employed professionals is 42 years. Female workers occupy a 39% share of the total working consultant population.
11. Where Do Consultants Work In Australia?
Employment opportunities for a consultant are dependent on the following factors:
Level of business activity
Management consultants primarily work in the following settings:
Accounting and financial institutions
Human resources and employee training agencies
Commercial or industrial organisations
When working within the company, they may take on the following consulting job positions such as:
Resource Planning Manager
Practice Management Consultant
Staff Utilisation Consultant
Management consultants may also work as independent consultants (freelance) or be self-employed by running their consultancy business.
12. Job Prospects For Consultants In Australia
Management consulting is viewed as a large, attractive, varied, financially and emotionally rewarding industry. Overseas travel, high earning potential, high degree of variety, robust demand, and influential role are a few reasons that attract youths to pursue a career in this area.
According to the National Job Outlook website, the number of Management Consultants has grown quickly from 40,900 in 2011 to 55,500 in 2016. The government projects solid future growth in the coming five years.
The top industries to recruit consultants will be Public Administration, Safety, Financial and Insurance Services, and Professional, Scientific and Technical Services.
Though Management Consultants are employed all over Australia, Victoria and New South Wales are the two cities that have a larger share of workers.
13. How Much Does A Consultant Earn In Australia?
The salary of a consultant depends on the following:
Location, as consultants working in bigger cities earn more than those working in smaller towns throughout the country.
The company for whom they work
The type of work, i.e., Specialist consultants earn more than those employed in general consulting work.
Bonuses, i.e., some consultants also earn signing and performance bonuses in addition to the annual salary.
The average Consultant salary in Australia is $79,513 per year or an equivalent of $45.63 per hour in Australia.
Average Salary Based on Experience:
An entry-level Consultant (below 1-year experience) earns AU$59,154
An early career Consultant (between 1 to 4 years of experience) makes AU$75,936
A mid-career Consultant (between 5 to 9 years of experience) makes AU$99,880
An experienced Consultant (between 10 to 19 years of experience) makes AU$120,016
Average Salary Based on Location:
Canberra ACT: $92,474 per year
Adelaide SA: $86,300 per year
Sydney NSW: $85,219 per year
Melbourne VIC: $82,862 per year
Perth WA: $82,563 per year
Brisbane QLD: $78,200 per year
Hobart TAS: $76,999 per year
Newcastle NSW: $76,356 per year
14. How Much Does A Management Consultant Earn In Australia?
The average Management Consulting salary in Australia is AU$90,624.
Average Salary Based on Experience:
An entry-level Management Consultant earns AU$63,671
An early career Management Consultant makes AU$79,298
A mid-career Management Consultant makes AU$109,084
An experienced Management Consultant makes AU$145,878
Average Salary Based on Location:
Alice Springs NT: $138,506 per year
Perth Airport WA: $136,400 per year
Darwin NT: $130,710 per year
Sydney NSW: $110,122 per year
Adelaide SA: $106,620 per year
Canberra ACT: $97,796 per year
Nedlands WA: $97,749 per year
Melbourne VIC: $94,856 per year
15. How Much Does A Business Consultant Earn In Australia?
The average Business Consultant salary in Australia is AU$76,058.
Average Salary Based on Experience:
An entry-level Management Consultant earns AU$60,432
An early career Management Consultant makes AU$67,439
A mid-career Management Consultant makes AU$92,877
An experienced Management Consultant makes AU$100,671
Average Salary Based on Location:
Brisbane QLD: $104,284 per year
Sydney NSW: $100,718 per year
Parramatta NSW: $99,886 per year
Perth WA: $80,523 per year
Melbourne VIC: $78,469 per year
New Castle NSW: $72,915 per year
Canberra ACT: $68,910 per year
Haymarket NSW: $68,773 per year
Consulting is a rewarding and exciting profession with various entry pathways.
When fulfilling the necessary education and training requirements, you can give yourself the best opportunity to create flexible and profitable businesses based on your expertise.
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