Does management consulting require finance?

Management consulting is a career quite different from finance. You are not required to have any specialized training or degree for being into Management Consulting. A bachelor’s degree would suffice.

Is consulting corporate finance?

While financial analysts focus on evaluating external companies, financial consultants provide internally-focused financial advice to corporations. Many consultants work within the corporate finance division of a business. Others may work independently or within third-party consulting firms.

Can I go from finance to consulting?

Certainly one could move from finance to consulting. As with any business discipline, there’d be opportunities to leverage the particular skills and knowledge gained in the field in consulting. (Recognize, though, that the same is true of Law, Engineering, etc- this isn’t a particular advantage of Finance).

What does McKinsey consult on?

McKinsey, that advises on strategic management to corporations, governments, and other organizations. McKinsey is the oldest and largest of the “Big Three” management consultancies (MBB), the world’s three largest strategy consulting firms by revenue.

Should you specialize in finance or management consulting?

If the answer is yes, pick that specialization and you would be happier. While finance careers are mainly built on the foundation of certification, management consulting needs a different route. Here’s what you should do to thrive in management consulting.

What certifications do you need to work in corporate finance?

Certifications like the CFA and CMA (Certified Management Accountant) can also help with corporate finance roles at many large companies. You can advance without a financial certification, but past a certain point, they’ll start asking about it because of corporate governance standards.

Is corporate finance as prestigious as investment banking?

No, corporate finance is NOT as “prestigious” as investment banking, and it doesn’t give you as many exit opportunities. It’s a different world altogether. But it’s also a world where you can still make hundreds of thousands of dollars, and even into the millions if you’re at the right company in the right role.

What does it take to be a successful finance leader?

Achieving superior business results requires a world-class finance function and an approach to financial management that is aligned with strategy, digital, and adept at creating and sustaining a performance culture.