Being a consultant can be a great way to make a living, but it also comes with its own set of challenges. On the one hand, consultants have the flexibility to choose their own projects, schedules, and locations. On the other hand, they may face an uncertain future at the end of a project if another job is not immediately available. In addition, consultants often lack knowledge about internal procedures and may have difficulty finding work in foreign countries due to language and cultural differences.
Let's take a closer look at the pros and cons of being a consultant.
ProsOne of the biggest benefits of being an independent consultant is flexibility. Working in management consulting as an employee can be a bit chaotic at times. Employees may have to work long hours and travel quite often. However, as an independent consultant, you can choose your own schedules, projects, and location.
ConsThe main disadvantage to being a consultant is that you may face an uncertain future at the end of a project if another job is not immediately available.
Depending on the type of work you do, it can take weeks or months to find a new job. Developing a wide network of potential work contacts can help you find work quickly when a project is finished. Another disadvantage of being a consultant is that you will simply have to work long hours. A disadvantage of consulting is that consultants often lack knowledge about internal procedures. This can lead to labor disputes, since your mode of operation can affect the workflow of your regular employees.
You generally have limited control over independent contractors; they're only guided by what's spelled out in the contract. If you run a multinational company, one of the disadvantages of consulting is that hiring consultants in foreign countries can be a challenge due to language difficulties and cultural differences, requiring additional resources to ensure productive participation. Unlike regular employees, you don't have to keep consultants on the payroll once the project you hired them for has been completed.