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6.3 DEMAND FOR MBAs BY SECTOR

6.3.1 Consulting

Top 10 Consulting recruiters of MBAs in 2007

Accenture, AT Kearney, Bain & Co, BCG, Booz Allen Hamilton, Ernst & Young Business Consultancy, IBM Consulting, McKinsey & Co, Deloitte Consulting, Oliver Wyman / Mercer Management Consulting (Roland Berger & Partners replaced from 2006).

The consulting industry had been growing at phenomenal rates for the last 20 years, becoming a $ 100 billion industry. After a temporary slowdown at the start of the new millennium, the sector is hitting new highs in 2007; the consulting market is in the middle of a boom phase.

Responses to the Topmba.com International Recruiter Survey suggest that larger strategy consulting recruiters are actively seeking many new people in 2007. In addition, the professional services, technology and outsourcing firms are re-staffing their strategy departments - many of which were decimated in the downturn. Last year, Ernst & Young re-launched its business advisory / business consultancy division with targets to grow revenues to $ 2 billion by 2009.

Overcapacity in 2001 saw an MBA hiring cut back. A 22% (38%) increase in demand for MBAs in 2007 places demand ahead of 2001 levels and, based on current forecasts, demand will continue to grow.

Global-Workplace (www.global-workplace.com), the career platform for global professionals, including the community for 50 top business schools around the world, has seen the number of jobs listed on its site grow throughout the past three years. Mike Holmes from Global Workplace says, "In 2006, over 4,600 consulting jobs were listed on the site, an increase of over 20% in two years. Consulting job listings feature all the major consulting firms as well as many smaller firms."

All the leading firms have returned to aggressive MBA hiring. In particular, the big strategy players like McKinsey, BCG, Accenture, Bain, Booz Allen, and Roland Berger are recruiting heavily. Accenture historically hires between 10,000 and 17,000 people, globally, each year. Outsourcing remains the fastest growing segment of consulting services, accounting for 65% of Accenture's new business. IBM Consulting is also a large player in outsourcing consulting projects and is benefiting from this trend. For this type of consulting, Sej Butler of IBM UK looks for "specific pre-MBA skills - either deep industry and process knowledge or knowledge of solution areas".

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Source: -
QS World MBA Tour - QS TopMBA.com International Recruiter Survey 2007
© QS Quacquarelli Symonds Ltd. 2007
Website: www.topmba.com