The Indian healthcare industry is becoming more competitive with every passing year with providing high-standard consulting for healthcare. Therefore, companies in the healthcare sector that strive to remain on top of the game should be able to capture every single opportunity that comes along their way.
A credible person with a creatively thinking head, curious, discerning eyes, problem-solving skills, and clear communication is the need of the hour for the Indian healthcare industry. So, the best way for a clinician to pursue consulting career is to study MBA after MBBS. Management Consulting for Healthcare main article can be found here.
Understanding the roles of a Healthcare Consultant
This demanding need opens the career door for skilled healthcare consultants. A healthcare consultant can be the greatest asset to any healthcare organization. They help recognize its potential and provide customized consulting for healthcare. They also play a major role in the decision-making processes and important aspects of a business. For instance, the workforce and revenue rest on their shoulders. The top management of a large corporation always lends their keen ears to a management consultant’s creative suggestions, guidance for growth, and organizational structure.
Job Prospects in Consulting for Healthcare
Management Consultants are top-level management advisors with salaries that touch the ceiling of the general pay scale. According to PayScale, an Indian management consultant earns an average annual salary of around ₹11 lakhs. The salary is determined by the size of the company, the type of business, and the educational qualification of the consultant. Fresh graduates are often Research Associates at the start of their careers. Also, the Consulting Big 4 companies guarantee a handsome employee package. The consulting big 4 are KMPG, Deloitte, PwC, and EY which offer many services to high-end businesses and are leading in their field.
Young medical graduates can pursue MBA after MBBS to leave a mark in management consultancy. The major attraction of the consulting arena lies in the fact that candidates without or short work experience can earn an average annual salary of about ₹6,45,800, whereas those with 1-4 years of work experience can earn about ₹8,72,300 per annum. The average annual package for mid-level Management Consultants (5-9 years of experience) is ₹13,06,000. Senior-level Management Consultants with more than 10-15 years of experience earn between ₹19.5 and ₹23 lakhs annually.
Management consulting careers do not begin from the bottom of the corporate ladder. In other words, consulting for healthcare lets you can have easy access to the top management in a short span. One of the best aspects of professional consulting for healthcare is a unique opportunity to work with international clients. Subsequently creating an avenue for personal growth with opportunities to travel around the world. Various career opportunities wait in line for those who constantly improve the quality of their work. One can also work with consulting Big 4 who are lead flag bearers in the field.
Pursuing Consulting for Healthcare in India
The low cost of living and education makes India an economically safe choice for Public Health careers. With the opportunity to learn English language, the education will be on par with other countries around the world. According to Numbeo, rents in the United States and the United Kingdom are higher than in India by 509 percent and 456 percent respectively.
A bachelor’s degree in any discipline is required for MBA admission in any part of the country. Students can pursue MBA after MBBS for this discipline. However, qualifying CAT, CMAT, XAT, NMAT, and SNAP (for Symbiosis institutes) is required for certain MBA courses in India.
Don’t let all these hurdles distract you from getting into consulting for healthcare. Taking the first step is always the hardest and proper guidance can ease your efforts. If you need professional guidance, please fill out the form below.