Recently, a number of readers have been asking about opportunities at boutique consulting firms. This is actually a great time to seek out opportunities at more specialized firms; since the dot-com boom, clients have become focused on getting more bang for their buck when it comes to consulting services. They're looking for consultants with specialized expertise who will be able to address their specific concerns and raise their bottom line.
Niche firms are able to compete with larger, general consultancies by running leaner, offering a more specialized focus and offering more affordable prices. For some basic information on boutique consulting firms, check out this bit from the .
With the increased demand for specialized skills, recruiters are now targeting candidates with prior specialty consulting or industry experience-not only those graduating from top MBA programs. In addition, generalist consulting firms are having a hard time retaining specialized talent, as those individuals are being lured away by boutique firms and industry jobs with promises of higher compensation. According to Top-Consultant.com's 2007 Retention Report, the attrition rate at most consulting firms in North America was 15 to 20 percent in 2006.
The Vault Guide to the Top 50 Management & Strategy Consulting Firms features a number of boutique firms; for example, if you're interested in health care consulting, be sure to check out Abt Associates, IMS Health, Easton Associates or Trinity Partners. An article on the health care consulting sector in the latest issue of Consulting magazine cites Kennedy Information Group, detailing that demand for consulting to the health care industry grew by more than 8 percent in 2006, with consulting revenue surpassing $20 billion. Demand is expected to grow 9.6 percent through 2010.
If your interests lie in the energy sector, you may want to look at Analysis Group, Strategic Decisions Group, Dean & Company or Archstone Consulting. And for those of you who may be thinking of changing over from the legal world, you may want to look into boutique firms like CRA International, Bates White or Cornerstone Research.
The Vault web site covers many other boutique firms in a range of different industries. You can also check out Consulting magazine's annual Seven Small Jewels ranking for other boutique gems.
Best of luck in finding your niche!
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