How You Can Become an Implementation Consultant with an MBA
If you’re a natural problem solver who likes tackling large projects and managing teams, a role as an Implementation Consultant (IC), could be the perfect fit. With jobs in fields as varied as compliance, human resources, software development, healthcare and pharmaceuticals (among others) this is a top job for MBAs who want to put their management skills to work.
Companies like Oracle, Deloitte, IBM, PwC and McKinsey all frequently seek ICs to serve in various capacities, which is great news for MBAs who are just starting out or considering a career shift.
What is an Implementation Consultant?
In short, an IC is hired by an organization to ensure that a new system, tool, or process is used efficiently. According to an article describing the position on modernanalyst.com, “You [will be] chiefly responsible for understanding the client’s requirements and … addressing gaps so that the solution or product will meet your particular client’s needs.”
An IC is hired by a service provider (such as a tech company or a finance and consulting firm) to put the service into place and ensure that it runs as smoothly as possible. Often, the IC is brought in on a project by project basis so a fair amount of flexibility is required in the role. Also important are communication and “people skills,” as the IC will work with teams in various levels and divisions within a company.
A story on LinkedIn explored the role of the IC in the tech realm. The skills laid out, however, are applicable to any field that requires such a position. They are:
- Client Engagement
- Cross Domain Expertise
- Presentation and Training
- Cross Cultural Competence
The Implementation Consultant often acts as the ‘face’ of the service or product, so an understanding of a client’s needs and values is one of the most important aspects of this role.
Examples of scenarios in which a company brings in an IC are implementing new software, which requires configuring the product to the company’s needs and ensuring follow through after installation; assisting organizations with new corporate structures such as those that happen during mergers or acquisitions, and putting new policies and procedures in place after shifts in government regulations.
Implementation Consultant Salaries
Implementation Consultants can earn an average of $98,000 per year, according to Paysa data. This represents a range of about $85,000 in the 25th percentile of earning and $110,000 in the 75th percentile. The top 10 percent earn over $123,000.
Five of the highest paying companies for ICs are Leidos, BlackLine Systems Accounting Software, Salesforce, Omniture, and Kaplan K-12 Learning. The cities with the highest paid positions for the role are Los Angeles, San Francisco, Seattle, Philadelphia, and Boston.
A recent FirmsConsulting.com article says it best regarding the need for good ICs:
“No matter how good a firm is, they can never predict all the problems with implementing a strategy.”
Getting Started
Among the skills required to become an effective Implementation Consultant are project management and general management, along with analytics. While many undergraduate degrees with a business or information systems focus can get your foot in the door, an MBA may push you to the top of the list of desirable hires.
An MBA with a consulting, project management, or analytics focus is ideal for a future in Implementation Consulting. As previous articles have covered, Chicago Booth, MIT Sloan, Columbia Business School, and Northwestern Kellogg, are all considered leaders of the pack of feeder schools to top consulting firms.
Project management education can also help earn a way into the role. Penn State’s Smeal College of Business‘ program is one of the top in the field, as are those at Lehigh University College of Business and Economics, Georgetown University McDonough School of Business, and Boston University’s Questrom School of Business.
New MBA Job Openings: Strategic Consulting Positions
Newly minted MBAs can choose to take their careers in a variety of different directions after they graduate. A number of them go into the world of consulting, advising clients, and businesses on various issues. This week we will highlight a particular subset of consulting: strategic consulting.
Strategic consultants help businesses and clients prepare plans for future products, optimize their organization, and develop advertising campaigns, to name just a few tasks. If you enjoy planning, researching, and thinking three steps ahead, you should look at this week’s jobs.
The Top U.S. Entry Level Jobs and Internships of 2019
While work life balance, benefits, growth potential, and job security all factors to consider in your job search, the fact is that base compensation is more than likely the high priority. Getting an MBA is a sure way to increase earning potential, but where should you begin to look for the best internships and entry level jobs in such a vast and competitive playing field?
Glassdoor recently published its report on the highest paying internships and entry level jobs of 2019. We’ve broken down the report to help our readers discover just which of these positions and companies can offer them the best places to put their MBA talent to work.
Top 5 Entry Level Jobs for MBAs
One of the many pieces of good news from Glassdoor’s report is that as the number of tech jobs continue to increase, so does the need for business minded workers. This, along with the fact that finance and consulting positions follow right behind tech on the highest paid jobs list, should make b-school students optimistic for their prospects.
Product Manager
Product Management is a key role for any organization in the business of turning ideas into profit. According to blogger Dan Driscoll, who wrote a definitive article on the role, PMs are “closet-creative types with an ambitious acumen for business fundamentals and priorities, as well as masters of persuasion and consensus-building.”
Strong analytics skills along with a creative approach to problem solving are key for these positions. Engagement in design, development, support and marketing are all features of this role, which has a median base salary of $89,000 to start.
Major firms, such as Salesforce, are currently looking for top-tier product management candidates.
Investment Banking Analyst
Financial modeling, business valuation methods and strong presentation skills are just a few of the factors that comprise the Investment Banking Analyst role. The nuts and bolts of finance firms are the responsibility of the investment banking analyst, as they track live transactions along with M&A and private equity transactions.
At a starting median base salary of $85,000, this job is a great foundation on which to build a career.
Implementation Consultant
Implementation, according to coaching and recruiting site Firm Consulting, is one of the three main branches of consulting as a whole. Implementation teams take recommendations from Strategy and Operations consulting teams and turn them into realities. For instance, a company may be deciding to create a new division. Strategy and Operations consultants determine how best to profit from this, and implementation consultants make it happen.
ICs brand, execute and set up the division in this scenario, including relocation if necessary, along with on-boarding procedures. The starting base pay for ICs is $72,000.
Actuarial Analyst
Actuarial Analysts, who make a starting median salary of $66,250, are the workhorses of the insurance industry. Using statistical models, they analyze the probability and cost of various events (injury, accidents, and product failure, for example), and use this data to determine insurance policy pricing. Certification by either the Society of Actuaries (SOA) or the Casualty Actuarial Society (CAS) is required for these positions.
Actuaries must pass seven exams for the CAS and five in the SOA. This generally happens within a four-to-six year period, but students can begin the test while still enrolled in school. After passing the first and second exams, a student can start their first job. The ‘fellowship’ level of certification takes place over an additional two-to-four years.
According to the U.S. Bureau of Labor Statistics, the role of Actuarial Analyst has a 22 percent growth rate projected up to the year 2026.
Business Analyst
Business Analysts are key team players who make certain that companies’ current systems are as efficient as possible, and who develop strategic plans for growth. As agents of change, Business Analysts identify growth opportunities and reduce costs during these changes. Business Analysts work closely with IT departments to ensure that the best technologies are in place, and they also serve as a link between different departments of a company to ensure consistency.
Therefore, communication, diplomacy and a strong understanding of each business function are vital to success in this role. The four major components of development, modeling, process design (workflow creation), and systems analysis are the basic elements of the Business Analyst role.
To start, Business Analysts make a median salary of $63,000.
Top 5 Highest Paying Internships
Facebook leads the pack in paying its interns $8,000 per month, followed by: Amazon at $7,725; Salesforce at $7,667; Google, which pays $7,500, and Microsoft, offering interns $7,250 monthly.
Facebook tops Glassdoor’s 2019 ranking of the top-paying U.S. internships, with interns pulling in an estimated $8,000 per month
Each of these companies have highly competitive university recruitment programs. For details, see Facebook Careers, Student Programs at Amazon, Salesforce University Recruiting, Google Student Internships and Microsoft University Internships.
Those graduating now or in the near future from MBA programs have a solid advantage in today’s market; job growth is high in the U.S. and unemployment is low. While these high paying jobs and internships are clearly appealing for a reason, keep in mind that more intangible factors like company culture and proven trust in management are the things that will sustain you regardless of salary.
Company Battle: Accenture vs AT Kearney
Consulting positions are among the most coveted roles for MBA graduates—and international management consulting firms Accenture and A.T. Kearney are teeming with opportunities for MBAs.
Dublin, Ireland-based Accenture is a Fortune Global 500 company that offers professional services in addition to management consulting. In addition to the many awards Accenture has received in recognition of its global leadership in finance, it has also been ranked for 15 consecutive years on Forbes’ Global 2000 list.
A.T. Kearney, headquartered in Chicago, offers consulting to over 75 percent of the Fortune Global 500, spanning a diverse array of industries like aerospace and defense, transportation, healthcare, and oil and gas.
Accenture vs AT Kearney: Salaries
Managemant Consulted compares the base salaries made by MBA graduates at both companies in 2019, finding that the compensation was pretty comparable—A.T. Kearney offers $158,000 per year and Accenture offers $150,000 per year.
However, each company has a unique approach to bonuses. A.T. Kearney offers up to $44,100 while Accenture offers $30,000 to all employees in their first year after receiving their MBA. Top performers are rewarded with an additional $15,000. Accenture offers a very valuable $80,000 tuition reimbursement to select MBA grads.
Accenture vs AT Kearney: Company Culture
When it comes to culture, A.T. Kearney emphasizes collaboration over analysis, striving for creative strategies to keep up with an ever-changing marketplace.
A.T. Kearney has been recognized many times for their progressive initiative with regard to workplace equality. TransparentCareer ranks the company in the top 30 for satisfaction among MBA graduates. However, it is important to note that the same blog also reports that up to 80 percent of an MBA graduate’s time working at A.T. Kearney may be spent in transit.
A.T. Kearney has long recognized the importance of workplace diversity and it enforces a strict no-harassment policy. It has created networks for women, POC, and LGBT to reinforce a sense of community and belonging in the workplace. It has also been recognized for its progressive policies, having scored a perfect 100 for seven years straight in the Corporate Equality Index and received an award in 2017 for Best in Class for Diversity Leadership in Diversity MBA Magazine.
From 2015-18, it was also ranked as one of the “Best Places to Work” by the Human Rights Campaign and from 2013-17 as one of the “Top 100 Firms for Working Families and Women” by Working Mother.
Working Mother has lauded A.T. Kearney for years as one of the best career landing spots for working mothers in the U.S.
Accenture regularly ranks highly on lists that highlight forerunners in workplace culture. It were ranked second overall for eight consecutive years in Business Today/PeopleStrong’s “Best Companies to Work For” and 16th for four consecutive years in the Sunday Times “Best 25 Big Companies to Work For.”
Accenture is also committed to workplace equality, aiming for a gender balanced workforce by 2025. It is committed to creating Culture of Equality, citing the imperative of workplace diversity for a thriving business.
It has been recognized for the efforts by being included two consecutive years on the Bloomberg Gender-Equality Index and 16 consecutive years on Working Mothers’ 100 Best Companies and the list of Best Companies for Multicultural Women.
Accenture vs AT Kearney: Versatility
As noted above, MBA graduates employed at A.T. Kearney can expect to travel frequently as part of their work. They have over 3,600 employees in offices in more than 40 countries across the Americas, Europe, Middle East, Africa, and Asia Pacific.
Accenture, a much larger company, has more than 435,000 employees serving clients in over 120 countries, as well as offices in 52 countries.
Penn State Smeal Director of Admissions Answers 5 Burning MBA Questions
In our latest installment of the MetroMBA “5 Questions” series, we speak with Michael Waldhier, the Director of Admissions at Penn State University’s Smeal College of Business. Waldhier talks about the close-knit, collaborative community at Smeal, his alumni experience, and the many activities, clubs, and opportunities available for students. He also shares about the 150-year-old Penn State Berkey Creamery—excuse us while we go grab some ice cream!
Michael Waldhier, Director of Admissions at Penn State’s Smeal College of Business
1. What is the Smeal College of Business’ greatest asset and what do you wish MBA students knew more about?
“Rather than discussing our #1 ranking in supply chain management or the fact that Penn State has the largest active alumni network in the country, I honestly think our greatest asset is our class—specifically the individual, tightly-knit, collaborative atmosphere that exists in our MBA program. We only accept 60 students per year in the resident MBA program, which allows for an unparalleled amount of interaction within the cohort, and ensures that faculty and staff build strong, personal relationships with everyone in the class.”
2. What makes the Smeal College of Business a special place for you?
“In addition to being Director of Admissions, I am also an alum of the Smeal MBA program, and remain extremely close to most of my classmates and many of the professors who still teach in the program today. After graduation, I was fortunate to land a principal role in strategy consulting and had the wonderful opportunity to travel extensively over the course of my career. When it was time to transition to something new, returning to Penn State, to ‘Happy Valley,’ and to Smeal was an easy decision for my family to make. This program had an enormous positive impact on my life and set me on the path to success, and I can’t think of any better way to pay it forward to future generations of Smeal MBAs than to be where I am today.”
3. How would you describe the culture of the Smeal College of Business? Is it more collaborative or competitive?
“As mentioned, given the small size of our MBA community and the amount of teamwork that is required throughout the experience, our program is extremely collaborative, so much so that students often help each other to broaden networks, land internships and jobs, and even study for exams. We put a lot of emphasis upon collaboration and teamwork, and students will recognize each other for positive contributions to the program that are aligned with the Penn State Values of integrity, responsibility, excellence, respect, discovery, and, of course, community.”
4. How does Smeal help MBA students pursue their special interests?
“While the MBA program itself may be very small in size, Penn State University is one of the largest in the nation, and there are activities and special interest clubs and groups for virtually everyone. Within the MBA program, we have numerous clubs and associations for students to join such as the MBA Association, Consulting Club, Net Impact, Finance Association, Military and Veterans MBA Association, and more. In addition, students have access to courses across the university if they want to explore a topic outside of the core Finance, Marketing, Supply Chain, and Consulting concentrations. To that end, we have packaged optional programs of study in nearly 20 topic areas, with more being added each year. This allows students the flexibility to customize their MBA experience and pursue just the right mix of coursework to satisfy any career or personal interest.”
5. What is your favorite part of the Penn State campus?
“There are a plethora of wonderful hiking and biking trails in the mountains surrounding Penn State, but the Arboretum is a special place where one can walk through gardens inspired by cultures across the world and study or relax amidst fountains and koi ponds,” Waldhier says.
A lot of people will talk about the Penn State Berkey Creamery, which has been making ice cream for over 150 years, or Beaver Stadium, one of the largest college football stadiums in the United States, but one of my favorite places on campus is the Penn State Arboretum. There are a plethora of wonderful hiking and biking trails in the mountains surrounding Penn State, but the Arboretum is a special place where one can walk through gardens inspired by cultures across the world and study or relax amidst fountains and koi ponds. It also helps that it is right next door to the Smeal College of Business, so students frequently go there after class for team meetings or to relax and unwind after a stressful day.”
New MBA Accounting Jobs at AT Kearney, Accenture, and More
Not every MBA will will land a job at one of the “Big Four” accounting firms of KPMG, Ernst & Young, Deloitte, and PricewaterCoopers. Thankfully, there are plenty of other new MBA jobs available at other reputable consulting firms across the country. Here’s a look at some of the best new MBA jobs open at companies like Accenture, LEK Consulting, BCG, and AT Kearney. Continue reading…
