Happy Monday Morning,
According to the Kennedy Information and Industry Intelligence Company, the consulting industry has grown at a 20% rate since the 1980s. The sector is a $118-billion industry. It is six times larger than 10 years ago, employing between 350,000 and 400,000 workers. The top 25 global firms make up 60 percent of the industry.
The consulting industry is broken up into four key areas:
- 50% IT Consulting
- 21% Operations Consulting
- 18% Strategy Consulting
- 11% Human Resources Consulting
The good news is that the “Wisdom Industry” is growing at a fast clip. Some sectors, such as the technology consulting area that we are looking at, have grown at a slower rate these past years, and instead, you are seeing more consulting work occurring offshore.
Many professionals join a consulting firm and spend their whole careers there because they enjoy the variety. The complexity and financial rewards are tremendous, especially if their goal is to become a partner. It exposes you to a number of different situations. The profile of a consultant is one who enjoys a wide range of problem-solving and thrives independently.
There are a few challenges with this role; firstly, you tend to follow the problems that are the hottest, and the ones that clients are willing to pay for, which may or may not fit your key skills. Secondly, there tends to be the expectation of longer hours and more travel.
If you have a profile that fits, you will thrive; otherwise, it may be a short term engagement that opens the door to a new employer. Are you up for the challenge?
Along the road with you,
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