For most companies keeping up with the global economy is like being lassoed in by the space cowboys of the 21st century. Research and Development Department can be found in almost every sector of consulting work. It is paradigm in this field to exhibit the mind set and strategies needed to compete in the technological global economy. From trends and fluctuations in the market to nano technologies, there will be a Research and Development Consultant heading the team.
Due to this trend in our economy Consumers are buying more products from the World Wide Web. In turn this has presented a need for specialized R&D consultants in the following fields: pharmaceuticals, clinical psychology, engineering, advertising, multi-media, educational institutions, political lobbyist to name a few. Thus, the quest for a well-rounded Consultant to manage the Research and Development departments is a never-ending proposition for the success of any company.
Ultimately the R&D is responsible for updating and promoting new projects while researching different aspects of development that will ultimately create more revenue. Powerful strategies are an investment for the future therefore; analytical research is an investment in the progress of this ever-changing industry. In some cases a specialized Consultant will be called in who can offer research methods based on firm grounding in qualitative and quantitative social science. Government entities, financial institutions, strategic planning, market research, or transportation policies, offer positions to well seasoned Consultants.
Often board members, upper management, as well as employees may harbor differences in opinions or strategies for a particular concept or a launch of a product. The R&D Consultant will propose a plan then submit a strategy based on their findings. If this study proves to show a loss in revenue or a possible lawsuit in it’s future the project can shut down over night. Sometimes there will be a decisive rift between the board members and their executives. However, the resources availed to this department by companies makes it possible to provide un-biased well-researched study. This could be in the form of securing an outside objective Consultant to the job site.
The R&D Consultant can ultimately write their own budget once they have proven a fiscally responsible and profitable year or quarter. Projections and precise analysis of their market can save companies millions of dollars in lost revenue. Thus bonuses are added incentives and perks in this field. The millions funneled into R&D is staggering and growing rapidly each day.
In order to become an R & D Consultant, a 4-year science or engineering degree from a well-known university is required. As competitive as the market has become an MBA would serve the applicant better. The best combination will be engineering or a science degree with a strong work history and portfolio. The salaries range and vary by qualifications educations and work history. For example a Engineering Technology R&D Technician ''B'' will start at $38,084 while a Chemistry R&D Director ''D'' will start at $100,000 a year plus bonuses. However if in a differnt region of the country like the mountain state the average Technology R&D Technician “B” will command $89,000 a year while the Chemistry R&D Director ''D'' will start at $122,000 in San Diego.