The Management industry is a great profession for individuals good at building strong connections. This industry provides you with the opportunity to implement the goals of a business and help build other individuals strengths and talents.
What Qualifications are needed for the Management industry?
CMI- Chartered Management Institute
CMI qualifications provide a progressive framework that enables you to develop and broaden your management skills.
CMI offers qualifications from Level 2, ideal for aspiring managers, to Level 8, suited to C-level senior managers.
Levels 2-3: Designed for aspiring, supervisory or first line managers, Levels 2 and 3 offer a broad range of knowledge ranging from team leading to project and resource management.
Levels 4-5: For mid managers, Levels 4 and 5 are more appropriate as they focus on developing core management skills such as managing resources, recruitment and information management.
Levels 6-7: Levels 6 and 7 are developed for Directors and Senior Managers who have the responsibility to translate organisational strategy into effective performance.
Level 8: CMI is the only organisation that offers Level 8 which is suited to C-level senior managers.
More than 80% of managers say that a CMI Qualification is a key part of becoming a professional manager, and that transferring their new skills also improves the performance of the team.
Level 2: GCSE (5 C-A*)
Level 3-4: A-Level, BTEC, Diploma
Level 5-6: High Level Apprenticeship, University Degree, HND
Level 7: Masters Degree- MBA, MBL, MSc, MA.
Management consultants help organisations to solve issues, create value, maximise growth and improve business performance. They use their business skills to provide objective advice and expertise and help an organisation to develop any specialist skills that it may be lacking. The role of a Management Consultant is to identify options for the organisation and suggest recommendations for change, as well as advising on additional resources to implement solutions.
A day in the life of Management Consultant
Management consultants help businesses grow and improve their performance. Consultancy firms offer services across all areas of business – from HR and marketing, to IT and finance. The broad span of consulting work makes it an attractive career, offering a variety of projects, challenges and opportunities for personal development. The day-to-day responsibilities of a Management Consultant are the following:
- Carrying out research and data collection to understand the organisation
- Conduct analysis
- Interview the client’s employees, management team and other stakeholders.
- Run focus groups and facilitate workshops
- Prepare business proposals and presentations
- Identify issues and form hypotheses and solutions
- Present findings and recommendations to clients
- Implement recommendations or solutions and ensure the client receives the necessary assistance to carry it out
- Manage projects and programmes
- Lead and manage a team
- Liaise with clients to keep them informed of progress and to make relevant decisions.
Starting salaries for junior consultants can be in the region of £25,000 to £30,000 with large firms. However, smaller consultancies may offer lower levels of pay and salaries do vary depending on the location, type and size of consultancy. With around three to five years’ experience, it’s possible for management consultants to earn up to £50,000. At senior level, with significant experience, it’s possible to above £80,000.
As a new graduate you’ll usually begin your management consultancy career in an analyst role, mainly carrying out research, data collection and analysis. Once you’ve gained some experience, you’ll move on to the full consultancy role.
From here you’ll typically progress to senior consultant or manager level, and this is usually achieved within about three years. At this level you will lead teams and design and develop solutions and projects.
It’s also possible to take on project management roles, perhaps specialising in a certain industry to become an expert in that area.
Once you reach senior consultant or manager level, you can go on to become a partner or director of a firm where you’ll have responsibility for generating new business, developing client relationships and overseeing the strategic growth of the firm.