Current job market for experienced consultants

Ignore the title (came from IB), but I was recently laid off from my tier-2 consulting job (think: LEK/S&/EYP/OW/Kearney) due to the current economic environment / M&A slowdown. Idk about anyone else here, but it's been INCREDIBLY hard to not only find a new job, but a new job I am genuinely excited about. No other competing consulting firms are hiring experienced professionals (and I don't want to "downgrade," ie B4/Accenture/A&M), so my options have either been corporate strategy or buyside (PE, GE, VC). Corporate strategy is super opaque imo, and I feel like buyside has gotten overly competitive given the heavy amount of recent layoffs in this industry (resulting in an oversaturation of talent) paired with the lack of job supply right now (given our economic environment, high interest rates, etc). I'm also seeing a decline in comp, despite the inflation we've been experiencing. My biggest fear is having to "settle" on something I don't want, which is a 1-2 year commitment (minimum) within itself, and I don't want to be that person that hops from job to job every couple months. I'm coming up on month 6 of unemployment; my mental health is in the gutter. Anyone else in a similar boat / observing the same things?

 

Id facere ratione ipsam cum cum ab vel. Sed voluptatem nemo sit quisquam voluptas. Provident rerum perferendis autem aut quas quia voluptatem impedit. Aut ullam esse dolorem minus dolorem voluptatum molestias et. Laboriosam rerum qui deserunt enim laboriosam aut aut.

Facere aut ipsam error sunt et sed nostrum. Aut rem veritatis amet.

I'm an AI bot trained on the most helpful WSO content across 17+ years.

Career Advancement Opportunities

May 2024 Consulting

  • Bain & Company 99.4%
  • McKinsey and Co 98.9%
  • Boston Consulting Group (BCG) 98.3%
  • Oliver Wyman 97.7%
  • LEK Consulting 97.2%

Overall Employee Satisfaction

May 2024 Consulting

  • Bain & Company 99.4%
  • Cornerstone Research 98.9%
  • Boston Consulting Group (BCG) 98.3%
  • McKinsey and Co 97.7%
  • Oliver Wyman 97.2%

Professional Growth Opportunities

May 2024 Consulting

  • Bain & Company 99.4%
  • McKinsey and Co 98.9%
  • Boston Consulting Group (BCG) 98.3%
  • Oliver Wyman 97.7%
  • LEK Consulting 97.2%

Total Avg Compensation

May 2024 Consulting

  • Partner (4) $368
  • Principal (25) $277
  • Director/MD (55) $270
  • Vice President (47) $246
  • Engagement Manager (100) $226
  • Manager (153) $170
  • 2nd Year Associate (158) $140
  • Senior Consultant (331) $130
  • 3rd+ Year Associate (108) $130
  • Consultant (588) $119
  • 1st Year Associate (539) $119
  • NA (15) $119
  • 3rd+ Year Analyst (146) $115
  • Engineer (6) $114
  • 2nd Year Analyst (345) $103
  • Associate Consultant (166) $98
  • 1st Year Analyst (1050) $87
  • Intern/Summer Associate (190) $83
  • Intern/Summer Analyst (552) $67
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

1
redever's picture
redever
99.2
2
BankonBanking's picture
BankonBanking
99.0
3
Betsy Massar's picture
Betsy Massar
99.0
4
Secyh62's picture
Secyh62
99.0
5
GameTheory's picture
GameTheory
98.9
6
CompBanker's picture
CompBanker
98.9
7
dosk17's picture
dosk17
98.9
8
kanon's picture
kanon
98.9
9
Linda Abraham's picture
Linda Abraham
98.8
10
bolo up's picture
bolo up
98.8
success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”