The Careers Market

There is both good and bad news for those graduates seeking to enter consulting at the moment. The market has grown incredibly over the last fifteen years. Consultants with only a few years’ experience can still expect salaries in the region of £50,000 per annum. The industry constantly complains about the lack of skilled and experienced hires and the ‘war for talent’ with the banks means competition for skills is high.

However, as you will see from the presentation below, the 2008-2011 recession hit clients hard who, in turn, cut back on consultancy spend. This meant stagnant recruitment in 2009 with only a slight improvement in 2010. Salaries, too, have remained stagnant in recent years as profit margins have been squeezed by pressure on fee rates. Labour turnover remains high in the industry (often around 15%) as few people can stick the long hours, intense work and constant travel. Utilisation, the % of a consultant’s time that is billed, has risen from around 70% to up to 90% in some companies, meaning life is hard for those that are sticking the career out.

These points are explained in more detail here…..