"A key pipeline for funneling talent into white-collar work has sprung a big leak that won't be easy to fix. Consultants are no strangers to volatility. In fact, a big part of their business is advising clients on the best ways to navigate change. BI's Polly Thompson, our resident consulting expert, has extensively reported on these trends. PwC, for example, plans to cut college graduate hiring over the next three years, with AI cited as a primary reason."
"That's also trickling upward as senior employees head for the exits, with several unhappy about dwindling pay and a shrinking window to reach the profession's pinnacle: partner. The rest of the business world will likely feel the effects of an upheaval within consulting. Love them or hate them, consultants are undeniably a part of the fabric of corporate America. One direct impact is the work they do with clients across the globe. Got a big business decision to make? Chances are you're going to bring in a consultant for some advice."
Consulting pipelines that historically funnel young professionals into white-collar roles are weakening, creating a significant workforce leak. Firms face volatility as client advising work adapts and firms reshape hiring. PwC plans to reduce college graduate hiring over three years, citing AI as a primary cause. Senior consultants are leaving amid stagnant pay and diminished prospects for partnership. Changes in consulting structures could alter how companies procure and pay for advisory services. A decline in junior consultants risks disrupting how corporations recruit and develop talent, potentially reducing the pool of professionals who transition in-house.
Read at Business Insider
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