What it all means for you

While the headlines may not be shedding much light on how the current financial crisis is affecting the consulting industry, Vault members do. Check out this current thread, which addresses current industry trends (utilization slightly down, cost-cutting up), which industry verticals might benefit from the downturn and how recruiting patterns and job offers will shift in the face of decreased competition from I-banking, private equity and other areas of the financial world. (This interview with Doug Lattner, chairman and CEO of Deloitte Consulting, hits on some of the same points but, alas, took place well before the eye of the storm touched down.)

Is this assessment still relevant after the closeouts we've witnessed over the past few weeks? What do you think the consulting industry will look like six months from now? Or in a year?

Tension also comes over the airwaves in the form of concerned messages from Vault members regarding rumored layoffs or delayed offers from various consulting firms. There's no clear answer on whether this is merely (justifiable) paranoia based on the state of the economy, or if layoffs are actually in the cards (and if so, whether this is based on voluntary attrition or cost-cutting measures.