Career In Interim Management Consultancy

Because interim management jobs are increasingly strategic a career as an interim manager often brings with it an opportunity to be involved more often in assignments that influence the performance of a business in a fundamental manner. And this typically brings more opportunities to demonstrate an ability to deliver outstanding levels of performance than more "business as usual" "permanent" line management roles.

Executive interim management can be a rich source of variety and intensive career enhancing experiences: different industries, product/process technologies, solutions to business challenges, IT, organisational structures, and cultural styles etc.

Executive interim managers have direct control of their remuneration, a greater choice regarding the mix of part-time/full-time work, working from home and the frequency and duration of holidays.

Specialising in executive interim management also means that a really challenging career doesn't have to come at the expense of unsettling the family by relocating every three or so years.

Success in executive interim management jobs is usually reflected by high levels of utilisation.

Consistent with the higher degree of risk involved, successful executive interim management careers typically offer higher standards of living than comparable permanent roles.

Furthermore (subject to IR35 legislation), executive interim management through a limited company can reduce tax liabilities. For example: taking a lower base salary, topped up by say quarterly dividends from profits reduces otherwise expensive NI liabilities. The costs of: IT, office furniture, consumables, some utilities and vehicle running costs can also be borne by the business (saving PAYE and NI) costs. Where applicable VAT on these expenses can also be reclaimed.

Because of their objectivity, executive interim management and consultancy roles are arguably subject less to office politics than permanent line management roles.

A career in executive interim management or as an independent consultant often encourages the development of a broader network of business and social contacts.

Independent consultants and executive interim managers can spend quality time and extended holidays with their families between executive interim management jobs.

Some would argue that today there's no such thing as a "permanent line management role" and that executive interim management can improve career longevity.

Over the last few years a significant number of former "Big Four" consultants have chosen interim management careers .

What Are the Downsides of Executive Interim Management ?

Economic downturns can directly impact an executive interim manager's utilisation irrespective of how successful their executive interim management career has been to date.

Running a limited company as an executive interim manager involves a fair amount of tedious administration: invoicing, VAT returns etc.

A career in executive interim management often means working away from home for extended periods.

Things That Executive Interim Managers and Consultants Should Know

Developing a delivery-focused yet ethical reputation is vital since executive interim managers or consultants are as saleable as the success of their last assignments and the references and referrals that can be obtained from them.

Preparation for the first meeting with the client is crucial firstly to understand the client's requirements but also to present your capabilities in the best possible manner. Successful interim management jobs often owe much to the development of comprehensive terms of reference, which clearly specify important issues such as: assignment roles, responsibilities, objectives and resources.