Trends in Consulting
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Posted by  in Career Opportunities

More and more highly-experienced professionals are turning to consulting as a viable career option in the senior finance, accounting + project management space.  Harvard Business Review profiled this career trend in May 2012 in an article entitled “Rise of the Supertemp“.

So how big is the consulting industry?

According to Plunkett Research, a leading provider of industry sector analysis and research, global consulting industry revenues will rise to $391 billion in 2012 from $366 billion last year.

What factors are driving positive growth in the consulting industry over the mid-term?

Plunkett Research had identified 7 growth drivers for the consulting industry:

  1. Continued growth in health care expenditures and significant changes in health care coverage are creating demand for consulting projects.  This includes a focus on digital health records and a dramatic need for greater efficiency and cost control.
  2. Consultancies that focus on projects that clearly reduce business costs and enhance operating ratios in a reasonably short period of time will find a ripe corporate market (such as consultants who focus on cash flow enhancement, supply chain efficiency and manufacturing efficiency).
  3. Consultancies that have deep experience in debt restructuring and financial workouts will remain in high demand, particularly in the fields of commercial real estate and debt-financed acquisitions.
  4. Vast new labyrinths of government regulation will create numerous opportunities for consultants who can show companies how to navigate rapidly changing relationships between government and certain industries, or deal with government oversight, particularly in financial services and health care.
  5. Consultants who assist firms in lowering employee benefits costs are in high demand.
  6. Consultants in environmental specialties, such as carbon emissions and energy efficiency, will be in high demand.
  7. Consultants and advisors in the fields of corporate expansion into emerging markets, information technology, mergers and acquisitions will be in high demand.

Learn more here.

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