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Job Survey: Principal Consultant

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Location: Washington, DC
Experience: Executive
Highest Level of Education: MA - Academic Program



Job Responsibilities
Managed / Led teams or individually delivered high-level strategic / planning / design, as well as operations-level implementation of small and large-scale programs in Compensation, Classification, Reward Systems and Human Resource Management to multiple clients (up to 33,000 employees) in Financial Services, Mining, Education, and Government. Led implementation of large- scale annual salary planning, performance management / merit increase budgeting, long-term compensation/classification reforms, etc. Managed a team of 8 compensation analysts in large- scale implementation of market-referenced job pricing processes (??market pricing??) using Mercer Prism methodology. Trained managers / staff assigned to international operations. Time spent each day/week on a specific responsibility varies by project load.
Job Requirements
Bachelor's degree (specialty open). Master's degree in Human Resource Management or related area. Career Path - Specialist / Analyst / Consultant - Senior Specialist / Analyst / Consultant - Manager - Senior Manager - Director / Principal
Uppers
- Great pay when the going is good. - Making an impact. - Being highly respected by clients. - Varied projects and locations. - Challenge - the juice - of new projects and environments. - Satisfeid clients.
Downers
- Zero Pay when the going is bad (in small shops or one person consultancies). - Spending 80% of time in Marketing (sucking up to clients and prospects) versus Delivering solutions. - Crazy hours (twice or three times what most people work). - Travel. - Cost of starting on your own (small / one person consultancy). - Loneliness when on your own (small / one person consultancy). - Being the outsider most of the time.
Lifestyle
To Succeed you need to in established firms you need: - Personal charisma (looks, youth, grace, diplomacy and high suckup quotient). - Billable hours (work like crazy). - Flexibility to travel at the drop of a hat. - Mix well at company social events. - Dress well. - Diversity so long as clients accept it (sadly some clients still express their preferences for "Mainstream" consultants meaning that minorities can have a tough time the higher they go, unless they compensate very strongly with other highly desirable attributes). - Team work. Lifestyle can be tough on insecure relationships.
Compensation
As an independent it can be rough. As little as zero pay in a bad year. As much as six figures in a good year.
Advice to Jobseekers
Ask recruiters for a chance to Talk with beginners, mid-level folks and higher level folks. Your best lessons about what it takes may be from people who left the company or business.

This Principal Consultant career survey is just one of 1000s of exclusive career surveys available on Vault. Find out what it's actually like on the job with Vault's job surveys.

Read all Vault Career Surveys for the inside scoop on specific jobs
Read Vault Employee Surveys for the inside scoop on specific employers
Read Vault Student/Alumni Surveys for the inside scoop on colleges and grad schools