Consultant 2.0

Management Consulting has been around for a long time, and as industries go, it's one of the most resistant to change. The 'up or out' formula has brought them results and big money since Arthur D. Little opened its doors in 1886.

But as Fortune Magazine reported in 1998, a lot has changed in the now 121 years since then, and the best and the brightest don't necessarily choose Mckinsey, Bain, and BCG as the missing stop on their resumes anymore.

To combat this, firms have changed their recruiting policies. No longer a haven for MBAs, today's top consulting firms employ doctors, lawyers, and engineers with experience and post-graduate degrees deemed equivalent to the requisite MBA. The other alternatives- dilute the talent pool with less elite students, or lose business due to lack of manpower- were not acceptable, so the change management experts stepped in to transform themselves.

The result has been a positive one for the big shops, returning profits to a positive growth curve, and solving the people problem for now.

But there is another wrinkle. Today's consultant- let's call him Consultant 2.0- isn't just looking for 3 years of consulting as a gateway to a line role in industry.

One ex-consultant who's been in industry for 25 years recently told me that in his experience, "Those consultants worth their salt get snapped up by their clients, and if they don't, there's a reason."

Consultant 2.0, working 80 hours per week at 80% travel, doesn't have time for a second full time job looking for their next career move. And his next move is likely to be less-traditional. He may sacrifice cash for equity. Having been a generalist for most of his consulting career, Consultant 2.0 isn't going to the first client who makes him an offer. He is choosing an industry and a role, and developing deep relationships with his own firms alumni network, and the recruiters who can get him in the door.

As both ex-consultant candidates, and the hiring managers who love them (often ex-consultants themselves) begin to recognize this trend, both sides are meeting through recruiters who are able to shorten the search cycle, and increase the effectiveness of the placement.