| Topic Name: |
The Death of Strategy Consulting |
| Message Name: |
You are true but... |
| Date Posted: |
02/26/2002 |
| In Reply To: |
The rumors of Strategy Consulting's death have not been exaggerated. All of the so-called infallible top-tier firms that have taken turns claiming that they are doing better than the industry as a whole and that their stellar brands would help them ride out the economic downturn (unlike their unfortunate competitors) have been hush-hushing their own low utilization rates, accelerated up-or-out policies, deferred or reneging on offers to top candidates, and generally taking away the best aspects of the career path (expense accounts, plenty of interesting, high-level work). Consider the true stories from the so-called "best of the best":
McKinsey: Lays of their entire 2nd year Analyst class in San Francisco and Los Angeles. Euphemistically call it "ending their analyst program early." Nonsense -- layoffs are layoffs.
BCG: Finally caves in a proceeds to lay off between 20-50% of their workforce firm-wide, with Asia hit hardest but North America not spared. Entire classes of Associates at risk, including top performers.
Monitor: "Unprecedented conditions" results in firm-wide layoffs last summer and many new offeree deferrals.
Arthur D Litte: The founder of the strategy industry is on the verge of bankruptcy and cannot find an angel after many months of defaulting on loans.
Booz-Allen Hamilton: Lays off people at all levels of the firm, from partner on down, and rescinds offers.
Other, lesser firms, have been predictably hit as hard or worse.
So a word to the wise: Consulting is dead. Clients have finally realized what everyone in the industry knew the first time they made a Powerpoint, that the work they were doing had no tangible usefulness.
As attractive as the industry is for high-flying undergrads and MBAs, it was always better for the consultants than for their clients, a business model doomed for failure once the fad wore out.
Seek alternative employment. |
| Message: |
I have heard of all the things you have said and many specialist interpret all those signals the wya you do.
But somehow i think your message is full of bitterness aginst the industry.
Are you a former consultant or business analyst? or worse have you been refused?
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