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5 Trends In Consulting Recruiting To Watch In 2022

5 Trends In Consulting Recruiting To Watch In 2022

Consulting recruitment trends are ever-changing, and 2022 will be no exception. If you’re gathering information from ten-year-old YouTube videos or amateur blogs, you’re going to be surprised by the changes occurring in the consultant recruitment process. Whatever job or business you’re pursuing, pay attention to these five consulting recruitment trends to ensure your success this year!

Firms Are Hiring Outside of Typical Recruiting Hotspots

McKinsey no longer hires primarily from HBS and Wharton. And this was before 2022, when the global labor market tightened to its tightest level in decades, resulting in an unprecedented demand for management consulting services. Therefore, who are businesses recruiting this year? Candidates should anticipate an increase in proposals from the following groups:

  • Students enrolled in non-target undergraduate and MBA programs
  • Students pursuing specialty master’s degrees
  • Doctoral degrees, Juris Doctorates, and Medical Doctorates
  • Professionals with experience

That is not to argue that attending HBS will hinder your prospects. It’s only that admission to a top-tier MBA institution is not required to break into consulting. How about this as an illustration? Only 19% of McKinsey’s 2017 intake were applicants fresh out of an MBA school. Additionally, the corporation engaged experts from more than 370 colleges and institutions.

Recruitment for Consulting Positions Will Begin EARLY

Pay heed if you are a student. In a talent battle, the early bird always gets the worm. In 2022, consulting businesses will continue to accelerate recruitment timeframes, so you should begin preparing for interviews now. According to last year’s data and what we hear from sources, the following dates are expected for the 2022 consultant application deadlines:

  • February/March: Ph.D./JD/MD bridging program application deadlines
  • July: First application deadline for undergraduate juniors and seniors seeking internships and full-time positions; the first application deadline for Ph.D./JD/MD candidates seeking full-time jobs.
  • August is the first application deadline for MBAs seeking full-time positions.
  • November: The first deadline for MBAs to apply for internship positions

Diversity recruitment often occurs even earlier, so if you want to exploit a diversity route into your business of choice, make sure you engage with the affinity group that will sponsor your application early on. You can learn more about which companies provide affinity groups in our business directory.

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Prepare for Additional Interview Difficulties

As we approach the 2022 cycle, nontraditional interview approaches are becoming increasingly prevalent across the business. What you should anticipate throughout this year’s consultancy recruitment cycle is the following:

Digital evaluations

  • GMAT-style timed examinations
  • Include components of verbal thinking and quantitative problem-solving.
  • Frequently used at MBB as a pre-interview screening
  • McKinsey, BCG, Bain, Deloitte, and Capital One are among the firms that use it.

Interview with a chatbot

  • Questions with many choices
  • The interview concludes with a 1-2 minute video clip of the candidate’s last suggestion.
  • Most often seen during BCG as part of the Round 1 protocol.

Interview with a virtual case

  • A human interviewer did a virtual case interview
  • Less reliant on exhibits
  • Requires excessive communication and organization
  • The majority of Q1/Q2 2022 interviews will be conducted virtually.

Interview with a case presentation

  • You have between one and forty-eight hours to create a five-slide presentation using fifty pages of material.
  • You give a live presentation to a panel of interviewers; this is common across businesses; it is usually a part of the final round at ZS Associates.

Case interview in a group

  • 4-6 applicants organized and solved a case prompt.
  • Frequently seen in championship rounds.

We go into further depth about each of these assessment approaches in the relevant pages above.

Firms differentiate themselves by providing value above and beyond base compensation

Beyond basic pay increases, our 2022 Consulting Salary Report reveals that organizations are raising variable compensation (i.e., performance bonus ceilings, profit sharing) and providing extended perks (i.e., unlimited PTO). Numerous businesses are expanding one or both of these benefits. Please note what your target businesses are doing. It will show a fantastic deal about the culture and how each company views its market position.

2022 Will Be Yet Another Record Year for Mergers and Acquisitions

Last year was a record year for mergers and acquisitions activity in the business, and we anticipate further growth in 2022. Merger activity is organized on two basic themes:

Large corporations purchase boutique strategy companies rather than developing their strategy practices from scratch (ex: AlixPartners acquiring Galt & Co.)

Traditional strategy organizations are adding specialists in fields including sustainability, supply chain management, and cloud computing to expand their downstream business (ex: McKinsey acquiring Material Economics)

What does this signify for your recruitment efforts in the consulting industry? To begin, there are strategy positions available outside of McKinsey, Bain, and BCG! Second, there are non-strategy-focused opportunities available at reputable strategy companies that enable you to concentrate on the particular industry or function you like while still benefiting from the network and branding associated with a top company.

Conclusions on Consulting Recruiting

The management consulting sector is solid, and 2022 looks to be a year of significant hiring across organizations and levels. Despite this, there are more people seeking entry into the business than ever before, indicating that the consulting recruitment process is as competitive as it has ever been. Work with Management Consulted a skilled team to differentiate yourself from the competition via resume editing or case coaching.

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