High-paying IT consulting jobs require that you are skilled in technical fields. You will need to have a working knowledge of different technologies and tools in order to succeed in this career. A successful candidate will have a solid understanding of both hardware as well as software. A certification shows that an individual is well-versed in a certain specialty. These certifications can be Microsoft Office User Specialist or Apple Certified Support Professional. This certification will be a proof of your expertise to your employer.
Average base salary
As IT consultants, your average base salary will be around 94,200 USD per year. While it can be difficult to find a salary range for the same occupation, it is assumed that you will earn more if your experience is extensive. The median represents average compensation. Half of workers earn less than this amount and half earn more. The figures shown here are not necessarily representative of all workers and may vary by company and office.
The average it consultant salary may be slightly higher than the national median. However, regionally the pay at the major four consulting firms is somewhat different. Similar to Tier 2 firms, mid-sized management consultants earn five times more than their counterparts in the same industry. But, entry-level it consultants in Big 4 firms are paid significantly more than their counterparts in smaller firms. PwC Atlanta associates would make about $51,000 less than their counterparts in New York.
Variation of base salary depending on company size
The correlation between company size and employee pay is strong, but how does the company size affect the employee's paycheck? One study revealed that the median pay for companies with less revenue than $300 million was $100,000. This was higher than $70,000 for larger companies. Researchers believe that this discrepancy could be due to part-time and large-overseas workers. But, this correlation does NOT imply a causal connection.
Performance bonuses
Different levels of consulting performance bonuses can have a direct effect on your career and salary. Bonuses at both Tier 2 and Big 4 firms are highly variable, depending on the firm and the specific circumstances. Some firms offer generous bonuses, while others don't. A number of factors influence the amount of a bonus, including the overall compensation model of the firm, its first-year learning curve and bonuses offered by subsidiaries and affiliated companies.
Consultant compensation packages can vary widely. The most common is a signing bonus equal to ten percent to twenty percent of the base salary. For reaching a particular client-sales objective, many firms offer bonuses that are higher than the base salary. These bonuses are common at high-ranking consulting firms that offer competitive salaries. Consultants also benefit from these bonuses, which are usually a percentage off their salary and do not normally include overtime.
Benefits of being certified IT consultant
You can increase your IT consultant's salary by getting certified. You can show that you have extensive knowledge and training in a particular area by getting certified. You can also gain contacts by interning at an IT company. Certification also shows your expertise in real-world situations. Microsoft Office User Specialist and Apple Certified Support Professional are just two examples of certifications. Certifications are not compulsory, but will increase your chances to be hired by companies.
An IT consultant with cybersecurity certification will be able to help you secure the information of your clients and ensure their safety. Cyberattacks are becoming a major concern for governments and businesses. Therefore, cybersecurity consultants help to protect clients' digital assets. Consultants are responsible for installing virus protection, securing networks, and developing a response plan in case of data breaches. Being certified as an IT Consultant has several other benefits.
FAQ
How long does it take for a consultant to be established?
Depending on your industry and background, the time required will vary. Most people start out with a few months before they find work.
However, some consultants spend several years honing their skills before finding work.
How does consulting differ from freelancing?
Freelancers work as independent contractors and offer their services without the assistance of an agency or company. They charge hourly rates depending on the amount of time spent on a client's projects. Consultants usually work for agencies or companies that employ them. Consultants are typically paid either monthly or annually.
Consultants often have more flexibility, while freelancers can choose to work when they want and set their own rates. Consultants have better benefits, like health insurance, vacation time, sick leave, retirement plans and etc.
What is the difference of a consultant versus an advisor?
An advisor gives information on a topic. Consultants offer solutions to problems.
To help clients achieve their goals, a consultant works directly with them. Advisors advise clients indirectly via books, magazines, lectures and seminars, etc.
How much should you charge to be a consultant?
It depends on what service you provide. If you're providing services for free, there is no reason to charge anything. But if your services or products are for sale, you will need to establish prices that reflect their value.
You don't have any products to sell if you provide low-quality services. You are not worth anything, so why should anyone pay you anything.
If you provide high-quality service, you may ask for higher prices because people appreciate the value you offer. Also, clients who purchase multiple packages from your company may get discounts.
What qualifications do you need to be a consultant?
Not only is it important to have an MBA but you should also have business consulting experience. Two years experience should be gained in consulting or training for a major corporation.
You should have had experience working with senior management to create strategy. This means you'd have to be comfortable presenting ideas to clients and getting buy-in.
A professional qualification exam, such as the Certified Management Consultant (CMC), of the Chartered Management Institute (CMI), is also required.
Do I require legal advice?
Yes! Yes. Consultants can often create contracts with clients, without seeking legal advice. However, this can lead to problems down the road. For example, what happens to the contract if the client terminates it before the consultant has completed? What happens if the contract stipulates that the consultant must meet certain deadlines?
To avoid any potential problems, it is best to consult a lawyer.
What are the benefits to being a consultant?
Consultants have the ability to choose when and on what they work.
This means that you are able to work from wherever you're at any time.
You can also easily change your mind, without worrying about losing any money.
Finally, your income can be controlled and you can set your own hours.
Statistics
- 67% of consultants start their consulting businesses after quitting their jobs, while 33% start while they're still at their jobs. (consultingsuccess.com)
- "From there, I told them my rates were going up 25%, this is the new hourly rate, and every single one of them said 'done, fine.' (nerdwallet.com)
- So, if you help your clients increase their sales by 33%, then use a word like “revolution” instead of “increase.” (consultingsuccess.com)
- My 10 years of experience and 6-step program have helped over 20 clients boost their sales by an average of 33% in 6 months. (consultingsuccess.com)
- According to statistics from the ONS, the UK has around 300,000 consultants, of which around 63,000 professionals work as management consultants. (consultancy.uk)
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How To
What's a typical day like for a Consultant?
Your work type will determine the length of your day. But generally speaking, you will spend time researching and planning new ideas, meeting clients, and preparing reports.
You'll often have meetings with clients where you can discuss issues and solve problems. These meetings can be conducted over the phone, by email, face-to-face, or online.
You may also be asked to prepare proposals, which are documents outlining your ideas and plans for clients. You will need to discuss these proposals with a mentor or colleague before you present them to clients.
After all the preparation and planning, it's time to actually create some content. For example, you could be writing articles, designing websites, creating videos, editing photos, or conducting interviews.
Depending on the scope of the project, you may need to do some research in order to gather relevant statistics or figures. You might need to determine how many customers you have, and whether they buy more than one product.
Once you have all the information needed, it is time for clients to see your findings. You can present your findings verbally or in writing.
You must also follow up with clients following the initial consultation. You could phone them occasionally to check on things or send an email asking them to confirm that you have received their proposal.
This process takes time, but it's important to ensure that you stay focused and maintain good relationships with clients.