Global
The global management consulting services market—the largest in the consulting industry—is to grow from $819.79 billion in 2020 to $895.46 billion in 2021 at a compound annual growth rate (CAGR) of 9.2%, according to Businesswire. 

The need for operational restructuring due to the COVID-19 pandemic has made consulting firms tailor their services; to cater for the resulting wants of companies is expected to drive this growth. At an estimated CAGR of 8%, the global market for management consulting services will surpass $1.2 trillion in 2025.

The consulting industry reached an estimated $470 billion in global revenues, with management consulting reaching $259 billion by 2016 according to Plunkett Research Ltd. With more than 800,000 management consulting firms according to IBISWorld—the market for management consulting services will grow to $343.5 billion by 2025 based on pre-COVID-19 projections. 

Based on 2011 estimates of a leading consulting website, consultancy.org, management consulting is estimated to represent just over 50% of the total global consulting, while strategy consulting stood at an estimated 12%. Financial consulting was estimated to be roughly 24% of the global consulting industry. 

Operations management services are worth an estimated 30% of the global consulting market, making it, together with Financial Advisory, the largest segment in the industry. Over the past six years, the market has seen continued growth, with an average CAGR of 5%. Technology consulting is estimated to represent 20% of the global consulting industry and growing at 2.5% CAGR. The human resource consulting industry is an estimated 10% of the global consulting industry.

Africa
The African consulting industry is approximately 2% of the global consulting market and 0.1% of GDP in Africa, compared to 0.8% in developed countries as the global smallest market. It is fast-growing, with room for further growth and the emergence of new consulting firms that serve African companies and foreign companies with the African market insight.

African consulting industry is estimated to have risen to almost $3 billion just before the COVID-19 pandemic, up from an estimated $2.2 billion in 2016; according to Source Global Research which limits the market only to consulting firms with over 50 consultants. Consultancy.co.za estimates that the market is worth more than $20 billion—accounting for the activities of smaller firms, boutiques, and independent consultants in the consultancy space. 

The leading markets for consulting services are South Africa, Nigeria, and Morocco. While—the fastest-growing markets are northern and sub-Saharan Africa due to; government liberalisation of the economy for private sector participation in key sectors and modernisation of public service to improve service delivery and reduce corruption. 

Digital transformation of industries has also been another key driver of growth on the continent. Countries such as Angola, Mozambique, and Zambia are small markets seeing high demand.

Foreign consultants working for international consulting companies making a foray into Africa dominated the early days of the African consulting industry. And also, Africans in the diaspora returning home and the training of local talents lead to Africans taking leadership in the African offices of global consulting firms and networks. Several of them have established their local consulting practices. 

Drivers of growth of the consulting industry in Africa have been the rise of the middle class and liberalisation of the economy for private sector participation, which has seen both local and multinational companies competing for resulting opportunities. The need for several African governments to diversify from mono and commodity-dependent companies while improving the efficiency of public institutions have also led to the growth of consulting engagements in the public sector.

Ghana
There are no available statistics on the Ghananian Consulting Sector.

Kenya
The consulting sector in Kenya has sub-sectors that includes management consultancy, information technology consultancy, financial consultancy and niche firms. In terms of managing consultancy and technological advancements, the commercial banks of Kenya have seen a rise in consulting services through contracting of consulting companies. For instance, major banks such as Equity bank are offering mobile and telecommunications services with the help of Finserve Africa, on the other hand, The cooperative bank of Kenya contracted Mckinsey for strategy development.  Through processes such as this for operational efficiency, there is an increasing surge in hiring teams of management consultancy. This is also driven by policies from the Central bank of Kenya. Kenya consulting sector is sustained through strategy, organisation structure, service offering, business revenue model, service process and development, and sales. The Kenya consulting industry is envisioned as a growing sector with innovations and creativity. 

Nigeria
Nigeria leads West Africa in the growth of the consulting industry, with annual revenue surpassing $100 million in 2014. The drive to diversify the economy from oil dependence— and the demand for transparency in public institutions; have contributed to the growth of the consulting industry (in the public and private sectors).

The four biggest audit firms in Nigeria earned N7.53 billion as audit fees from the most capitalised firms in 2019; by auditing 25 of the largest companies on the Nigerian stock exchange. It is a 5% increase in revenue from the N7.17 billion generated from the same companies in 2018— according to Nairalytics, a research arm of Nairametrics.

South Africa
South Africa is the largest consulting market in Africa—with a management consulting segment at par with the major global business hubs. According to Source Global Research, it has an estimated size of around $1.3 billion, which limits the market only to consulting firms with over 50 consultants. Consultancy.co.za estimates that the market is worth more than $9 billion—accounting for the activities of smaller firms, boutiques, and independent consultants in the management consultancy space.

Estimates of revenues generated from business and consulting activities will grow from $16.5 billion from 2011-2016 to an estimated $20.6 billion from 2018-2023. The South African robust industrial economy—which spans financial services, retail, commodities, media and entertainment—has immensely contributed to this growth.

Most global top 50 leading financial and management consulting firms are in South Africa. They are well-represented in the rankings of the most popular employers by the South African Graduate Employers Association (SAGEA). However, the industry suffered public reputational damage from the involvement of top consulting firms in the “state capture” crisis that rocked the Jacob Zuma presidency.

South Africa dominates the African consulting industry due to its relatively larger formal sector; compared to other African countries and the growth of its companies to become multinationals with strong African and European footprint and global investments. It creates an opportunity for small and midsize consulting firms to find success in the South African market.

Several challenges in the South African market have impacted the consulting industry. Public service expenditures on consulting services decreased by 12.6% in real terms between 2013 and 2016. Nevertheless, some private actors in the country continue to hire consulting firms. An estimated 60,000 professionals work in the South African consulting industry, spanning small to medium-sized consulting firms that serve SMEs.

• Digital Transformation: in addition to systems integration, data analytics and business intelligence have become typical offerings by financial consulting firms. Some management consulting firms have also acquired data-analytic companies to boost their in-house capacity.

• Cybersecurity: another resulting trend from digital transformation is the growth in cybersecurity offerings from consulting firms. It fits into risk management which is a vital offering from several consulting firms. The services include cyberattack preparedness, auditing the IT infrastructure for cybersecurity risk. Also, business continuity and resilience in the face of a cyberattack.

• Expansion of competencies: management consulting firms are increasingly delving into services previously provided by speciality consulting firms. These include design thinking, marketing, sustainability and serving clients in social services such as education, healthcare, and philanthropy. It has led to an increase in consulting firms partnering with technology companies and others acquiring service providers.

• Change in the work environment: the consulting industry used to be a conservative and highly structured workplace due to the nature of the firms they serve. However, as consulting firms compete with startups and technology companies who usually have a more relaxed work environment, consulting firms are also adjusting to this trend. The transition to working from home resulting from the COVID-19 pandemic is further accelerating this trend. 

• Expert and Talent Networks: as an alternative to traditional consulting firms, companies on a project basis offer clients connections to professionals from their pool of workers who work to meet client needs. They gather valuable information from subject matter experts, academicians, and executives on the network.

Other trends include multi-sourcing by companies, which has led to collaborations by consulting firms, and a change in pricing and billing models to incorporate value-based outcomes for clients.

These include:

• Organisational strategy
• Corporate Governance
• Digital transformation
• People and organisational performance
• Organisational culture and change

Strategy and Management consulting firms have a crucial role in helping companies align their strategies to the sustainable development goals (SDGs). According to a 2018 KPMG report, four in ten of the world’s largest companies already reference the UN Sustainable Development Goals (SDGs) in their corporate reporting. 

Consulting firms are including SDGs in their practice areas. Some hire sustainability consultants to assist their clients with SDG reporting, while new consulting companies—focused on sustainability—are emerging. The need for corporate alignment with SDGs is driven by the growth in responsible investing—and demand for Environmental, Social and Governance (ESG) data by investors drives.  

The consulting industry can also directly contribute to:

• SDG 8: for productive employment and decent work for all through the evolution of the consulting industry into talent networks.
  
  
• SDG 16: work with the public sector in building strong institutions for efficiency and transparency that leads to peace and justice.

• Political instability and uncertainty in the regulatory environment: Political instability limits the industry growth in some African regions. It leads to uncertainty in the business and regulatory environment—and an inability to get paid.

• Nature of markets. Another limiting factor to the growth of the consulting industry in Africa is the nature of markets—which provides a competitive advantage to enterprises backed by governments and those with highly networked founders. It makes the product, operational, and strategy superiority less relevant. Mid to long term planning can also be challenging in markets with high government interference.

• Technological Disruption: Firms are increasingly looking at technology-enabled models for innovation such as artificial intelligence, expert/talent networks, and crowdsourcing for ideas they would have traditionally hired consultants to deliver.

• Competitive landscape: As clients have higher expectations for quality and speed of service under tighter deadlines, emphasise results over activities, new and nimble entrants with experience working with big firms offer stiff competition to traditional consulting firms.

• Data management practices: The risk of data mismanagement in the workplace has increased— so is the need for better practices in managing client data as third-party service providers with access to a lot of data.

• The volatility of reputation. Consulting is a trusted business; to clients, regulators, and the public. Damage to a firm’s reputation makes it difficult to regain the confidence of clients in its market and can negatively impact the reputation of firms in the same network in other markets.

The consulting industry has been a driver of digitisation in the industry. The industry is, however, ripe for digital disruption. Leading consulting firms are spearheading this change. However, the conservatism of the clients can limit them. 

The following are crucial areas in consulting that digitisation is expected to impact:

• Data Collection and Processing: beyond the use of surveys for understanding client needs, the adoption of digital tools in the work environment for automating business processes has also provided funnels for real-time data collection—both structured and unstructured. This data can now be processed to understand client operations and machine learning algorithms for analysing data pools for insights.
  
  
• Data Analytics and Business Intelligence: data analytics and business intelligence offer— decision-makers—real-time insight into many areas like operations, sales, and supply chain activities across activities. This information is accessible from a central dashboard. It is also beneficial for consulting firms with mid to long-term engagement with clients to access the data to provide informed recommendations.
  
  
• Robotic Process Automation: financial consulting breeds many routine tasks such as analysing invoices and payrolls, which can become monotonous, time-consuming, and prone to human error. With robotic process automation, software bots can apply artificial intelligence to perform these tasks faster, more efficiently, and less prone to error. The robotic-process automation industry is experiencing rapid growth from increasing adoption by the financial services industry.
  
  
• Digital Delivery of Advisory Services: to serve small and medium-sized businesses and social organisations, some consulting firms have developed chatbots that can interact with clients to know their needs and take inputs. An example is the TaxTim chatbot by PwC—which provides an online step-by-step process for clients to get their taxes in order, quickly and efficiently.

Management and Financial Consulting firms, which form the largest block of the industry, typically recruit undergraduates  students as interns; and graduates as Analysts or Associates depending on the organisational structure of the firm. Strategy and Management consulting firms may have preference for graduates with an MBA, studying or committed to having an MBA degree.

There are opportunities to progress to assistantship, associate, senior and full roles as Associates/Analyst, Consultant, Manager, Director, Partner to Principal Partners. A firm; is typically led by a Managing Partner who doubles as the Chief Executive Officer (CEO); a rarely used title in the Consulting industry.

Other consulting firms such as Information Technology, Human Resources and niche firms can recruit or promote Graduates into specialist positions such as system implementation consulting, compensation and benefit consulting, or environmental consulting. Openings for consulting roles are more available and regular for graduates. Support positions also exist in areas such as information technology, human resources, and marketing.  

The highest paid jobs in the consulting industry are in Strategy and Management Consulting by International consulting firms with offices across the global major business hubs. However, an MBA may be a requirement for getting into some of these firms. The highest-paid consultants are typically in Strategy, Corporate Finance Advisory, Customer and Growth, Trusts and Pensions, Operational Transaction Services, and Investment & Divestiture Advisory Services.

The consulting industry is very keen on soft skills. It is why it is discipline-agnostic—as long as candidates are well-rounded in these skills. These skills for succeeding in the industry include:

• Communication & Persuasion: consultants must communicate their position, proposals, findings, and recommendations to clients, both in writing and in-person presentations. Consulting also involves working with people from other disciplines, sometimes with a team from the client, and writing reports which have to be lucid and clear. Consultants must convince their clients with data and facts to follow a recommended course of action amidst conflicting ones.
  
  
• Analysis & Problem-Solving: consultants need to understand the true nature of a problem, break it down, come up with the right questions, and find well-reasoned answers to them. Case studies and formal examinations test the ability of candidates to demonstrate these skills when needed. Clients expect consultants to utilise their fresh perspectives and knowledge of best practices to solve their problems, unlock value, and create opportunities—be innovative. Consultants are to put into use critical thinking and creative skills in solving problems.
  
  
• Numeracy & Financial Literacy: Financial consulting, the largest graduate employer among top consulting firms, requires graduates comfortable with numbers. Their areas of practice which include tax, audit and transaction assurance, are number-heavy. An oversight or human error can be very costly— therefore, requiring high numerical skills and comprehension of financial comprehension by consultants.
  
  
• Continual Learning & Adaptation: Consultants work with clients across different industries—both in the private and public sectors. They also work with other professionals from diverse disciplines. Yet, the deadlines can be tight, and the working environment pressure-filled. As consultants move from client to client, the work culture and environment differ. Hence consultants must quickly understand the needs and business environments of each client while also being flexible. Another huge area of change is the regulatory environment.
  
  
• Professionalism & Industry Awareness: consultants have to display a high level of professionalism in their conduct. Most of the big businesses they work with have conservative work environments, and consultants must maintain a similar level of formality. Consultants have access to client information which must be kept confidential. A consultant must also have a high level of industry awareness by being up to date on key developments across the business environment. This awareness helps to provide informed opinions to clients and thought leadership in the industry.

Other industry skills expected from consultants include self-awareness & self-management, planning & organisation, and teamwork. Working with data, communication, and collaboration with digital tools are essential areas of digital proficiency expected from consultants.

The consulting industry is open to graduates from all disciplines with solid analytical and communication skills while providing opportunities to learn on the job and continual education to attain professional qualifications. However, a degree in business, finance or STEM may be an advantage. A second class upper grade for the first degree is the minimum entry requirement for most consulting firms. 

The entry requirement for the top strategy and management consulting firms in the world is higher—with some requiring applicants with MBAs from one of the top business schools. For exceptional candidates with just a first degree, some of these firms sponsor obtaining an MBA degree as a perk for successful candidates.

Though not always mandatory and differing across firms, financial, information technology, and human resource consultants may consider certifications in their field. See finance, information technology, and human resources career clusters for more information on these certifications.

Top consulting firms conduct annual graduate recruitment programmes. It may be once or multiple times a year for financial and technology consulting firms like PwC, KPMG, Deloitte, E&Y, BDO, Grant Thorton, Mazars, RSM, and Accenture. Graduate recruitment is relatively less frequent in strategy and management consulting firms that are targeted more at MBAs. It makes having an MBA an advantage for candidates targeting these consulting firms.

These recruitment processes usually involve; calls for applications from graduates with at least a second class upper degree and still under a specified age. It is recommended you follow consulting firms you are eyeing on Linkedin and Twitter for updates on openings. Most applications to top consulting firms are online with options to upload CVs, cover/motivation letters, and degree certificates. Due to the high number of applications received from eligible candidates, ensure that you fill all fields in the online application and do not assume that your CV will be checked—for answers.  

While most selection processes start with an aptitude test at designated centres or on campus, some consulting firms have introduced online personality assessments before aptitude tests. Successful candidates proceed to written tests to evaluate their communication skills. Candidates who pass these tests go through multiple rounds of the interview, case interviews in the case of strategy and management consulting firms. 

GMAT and case interview resources are recommended—for preparation. Commercial awareness, which can be helpful in interviews and at work, can also be developed by reading business publications and staying up to date with business developments. As the interview process progresses, the higher the ranking of staff conducting the interview. The final interview phase is when you meet one or more Partners of the firm. Interning at a consulting firm can help build relationships and understand the internal working environment of consulting firms.

With the fierce competition for a place in top consulting firms, you can take advantage of the lower barriers to entry of lesser-known consulting firms. You can be proactive to seek an internship and graduate position there outside a formal recruitment window. You can also reach out to your network (family, senior friends, and alumni) who have contacts in medium and large consulting firms for internship and graduate opportunities.

Succeeding as a freelance consultant requires having a network of industry players, confidence, and understanding of the business world—from substantial work experience. Resources such as books and publications on succeeding as a consultant covering topics, such as preparing proposals and presentations, pricing, and managing client relationships, can help start your consulting practice. Thought leadership through blog posts, editorial contributions to industry publications and speaking engagements at industry events also provide visibility to prospective clients for consulting services.

Consulting is one of the best industries to start a career as a graduate. It provides opportunities for self-development— working with the best minds across disciplines and industries; and mobility across sectors and geographies for experience and exposure. Though it is known for its long hours, entry salaries in reputable consulting farms are higher than the average graduate salary in most countries. Strategy and management consulting firms are consistently on the list of highest payers.

Consultants typically move from client to client, providing opportunities to apply their analytical and cross-functional skills providing solutions to clients from different industries. These moves result in sumptuous lunches, business-class flights, and stay in classy hotels that many envy consultants working with top firms. Pension schemes, health insurance, and leave—are also provided.

However, the availability of these perks and benefits is not always the case for consultants working with smaller firms that serve SMEs. Nevertheless—a consulting career, irrespective of the company size—keeps consultants on their toes. They need to continually learn to stay relevant and provide numerous opportunities to build professional capacity. It also provides a good foundation for transitioning to a middle or C-level executive position in other industries. And also working as an entrepreneur leveraging the skills and network built.

In addition, the top global strategy and management consulting firms operate a human resource management model similar to the Cravath system. The system focuses on hiring the best talents—that are either promoted or counselled out—if they do not meet performance targets. The environment is very competitive and demands being able to work under pressure.

Global Bodies
Chartered Institute of Management Consultants, The Institute of Consulting (IC), Association of Image Consultants International (AICI), Project Management Institute (PMI), Institute Of Management Consultants Nigeria (IMCN), Institute of Financial Consultants®

Ghana
Ghana Association Of Certified Consultants, Institute of Certified Business Analysts & Consultants (ICBAC), Certified Institute of Administrators & Management Consultants, Ghana Association of Certified Consultants, Ghana Association of Restructuring and Insolvency Advisors (GARIA),

Ghana
Ghana Association of Certified Consultants and Fraud Examiners, Ghana Consulting Engineers Association, Ghana Association of Restructuring and Insolvency Advisors

Kenya
Management Consulting Association of Kenya, Association of Consulting Engineers of Kenya

Nigeria
Institute Of Management Consultants Nigeria, Nigerian Institute of Management

South Africa
Institute of Management Consultants & Master Coaches of South Africa, South African Institute of Management, and Institute of Business Advisors Southern Africa (IBASA).

Global

• Najwa El Iraki 
• Julien Tyack
• Nomfanelo Magwentshu
• Meryem Lakhssassi

Ghana
Martin Kwame Awagah

Kenya 
Jeotich Seii, Peter Muthoka, Nancy Muhoya, Bob Jones, Joseph Githaiga

Nigeria
Acha Leke, Taiwo Oyedele, Foluso Phillips 

South Africa
Acha Leke, Donna Gray, Shirley Machaba, Ruwayda Redfearn.

International and National Agencies
The consulting industry in most countries does not have state agencies that oversee, regulate or support firms. However, many of them work with agencies in sectors where their operations are active and are subject to regulation. Financial consulting firms providing audit and tax services to financial institutions have to follow the regulatory framework established by the apex (or central) bank in the markets they operate. This is applicable to many other highly regulated industries.

Ghana
Registrar General Department of Ghana

Kenya
Ministry of Transport, Infrastructure, Housing, Urban Development and Public Works

Nigeria

South Africa
Regulated by government organisations in their industries of operation.

The consulting industry consists of global firms which have international offices across the global major business cities. Prominent among these are management consulting firms. The top global financial consulting companies— such as the Big 4 to Big 16 include an international network of independently operating firm partnerships that share the same brands and adhere to shared values. However, local partners in these countries manage country operations. 

Only a handful of consulting firms with mid to large size operations command a bulk of revenue in the industry from servicing large enterprises and public institutions. Numerous local consulting firms operate as sole proprietorships or two to three-people partnerships that serve small to medium-sized businesses.

Global Employers
McKinsey, PwC, KPMG, Deloitte, Ernst and Young, Mazars, BDO, Grant Thornton, Nexia, RSM, Baker Tilly, Kearney, Bain & Co., BCG, Dalberg, Emerton, Marsh & McLennan, Oliver Wyman, L.E.K. Consulting, Booz Allen, Accenture, Capgemini, Cognizant, Infosys, Tata Consulting Service, DXC, HP Enterprise, SAP Consulting, and IBM Global Services, Roland Berger, Mercer, PKF international Alexander Forbes, Kearney, Deloitte, Emerton, Africon GmBH, Gardiner & Theobald, Hitachi Consulting, IDEO, JMAN Consulting, LeighFisher, Tata Consulting Services, Wipro, Fujitsu Business Consulting Services, NCC Group, BMC Consulting Services, Altran Consulting, Alchemmy, Actica, Africon

Ghana
Affiliated Computer Services (ACS), Aon Consulting, Avasant, Computer Sciences Corporation (CSC), Deloitte Consulting, Ernst & Young, Grant Thornton, KPMG Consulting, Manpower, PriceWaterhouseCoopers (PwC), and Kanta. Local firms include Nexia Debrah & Co, Sarsson Consulting, Morrison & Associates, Edel Technology Consulting, Africa Foresight Group, Nimba Research, ABP Consult, SRC Consulting, DU&T Consulting, Salcon Consult, JMK Consulting, Plan Consult, Michael Stevens, Sigma Strat, RDK Consulting, Shawbell Consulting, FAS Consult Ghana, eSolutions Consulting, Firmus Advisory, Multi Agency Financial Consult.

Ghana
The Law Office of Clinton Consultancy, RDK Consulting Services, Isef Business Consult, The Construction Bank, Cease Consults, Ghana HR Solutions, WestLion Limited, Account Trust Ghana, Litex Business Solutions, Golden Allied Solutions, Awesome Consulting Group Limited, SamBridge and Company Limited, IPay Solutions, Routeget Technologies, R&P Consult, GIC Limited, Sarsson Business Consultant, 1st Financial, IBK Consult, K.E Consult and Accountancy Ltd, Koforidua Tourism Ghana, AgriConnect, Prime Technology Solutions Ghana, Halloworld, Tim Technology Services Ltd, Golden Vision Consults, Jobberman Ghana, Liranz Consulting

Kenya
Startup Development House, Jacca Consulting Group, Parlmont Entreprises, 2Max Group Limited, Verus Consulting, BizSolutions 360 inc., NIT Studio Nairobi, Global Leadership Institute, ADPRO-Consult Group, Sunesis Consulting, Hasoft Kenya, Peak Options, Datum Intel, Acorns Investments, Dira HR Solutions, Gracious Roses Public Relations, Litchman Consultants, Mauve Group, Moontek, Resolute Software, KPMG, McKinsey Company, Ipsos, Accenture, Appen, SGS, Boston consulting group, Dalberg, Palladium, TransPerfect, Grant Thornton International, Turner and Townsend, GEP, Open Capital Advisors, DAI, ICF, Atkins, AAR, Marcus Evans, Enterprise Business Solutions.

Nigeria
PwC Nigeria, KPMG Nigeria, Deloitte Nigeria, Ernst and Young Nigeria, Mazars, BDO, PKF International, McKinsey and BCG. Indigenous firms include Andersen Tax Nigeria, SIAO Partners, Phillips Consulting, H.Pierson, Ciuci Consulting, Workforce Group, Resource Intermediaries Ltd, Ashford & McGuire, Human Capital Partners, Veraki Business Solutions, Meritex Consulting, McTimothy Associates, Novatia Consulting, Matog Consulting, Mac-Tay, Qeeva Advisory, BAO Tax Consultants, BusinessOnStop, Fosad Consulting, PG Consulting Ltd, Sigma Consulting Group, Romis Consulting, Platinum Stream Consulting

South Africa
Digiterra Group, Accenture, Added Value, Alexander Proudfoot, Aon Consulting, ARES Corporation, A.T. Kearney, Bain & Company ,BMC Software Consulting, BTS Buck Consultants, Computer Associates, Computer Sciences Corporation (CSC), Dalberg, Deloitte Consulting, Ernst & Young, Gartner, Global Intelligence Alliance, Grant Thornton, Hatch Associates, Hay Group, IMS Health, The IQ Business Group, Jefferson Wells International, Juran Institute, KPMG Consulting, Manpower, McKinsey & Company, Kantar, Monitor Group, PriceWaterhouseCoopers (PwC), SAP Consulting, Tata Consultancy Services, Genesis Analytics, Fever Tree Consulting, Rooster Marketing Consulting & Production, Madlalate Management & Development Consulting, BCG, Trillian Management Consulting, Letsema Consulting, Bayajula, Sionic, North Island, Nextcontinent, Analysys Mason, Impact Strategy Consulting, Mercer, Strategy&, Alvarez & Marsal, Unisys Consulting, Cordence Worldwide, Umlaut, Learning Strategies, Prana, Global Business Advisory, IQ Business, Stone Consulting, Orenda, PDG, MAC Consulting, Africa International Advisors, Niyitiso, Latsema, Advistrat.

Though consulting firms are beginning to open their doors to new hires after the lockdown, employment is to grow slower than before the COVID-19 pandemic. The current demand for jobs will be from top consulting firms that advise organisations on improving efficiency and control costs. 

Globally, the highest number of job openings will likely be from consulting firms focused on healthcare, bankruptcy, and turnaround consulting. Companies that serve commodity-driven industries such as Oil & Gas have been hit hardest and will slow down their hiring processes. Unfortunately, most African countries have fewer of these niche consulting firms (with expected growth). More of the consulting firms are badly affected due to their dependence on commodities.

Economies are rebounding; so will the consulting industry. It has usually grown faster than the general economy— sometimes even proving to be recession-proof. In the near time, hiring in the consulting industry is expected to rebound, with some consulting firms widening their recruitment pools to cover lost ground.

The impact of the COVID-19 pandemic on the consulting industry reduced revenue by an estimated 19% — from 2019 to 2020. Source Global Research projected negative growth for the second and third quarters of 2020. Africa’s consulting industry projects a drop by as much as 14% to reach a value of $2.5 billion. 

Consulting firms that offer advisory services to African economies dependent on commodity export, travel, and tourism have seen a fall in demand for services. In response to this, some financial consulting firms have embarked on cost-cutting measures by downsizing and asking staff to take pay cuts.

The pandemic has also resulted in clients working remotely and from home to serve clients—while many independent consulting practices with short-term engagements have been badly affected due to clients hesitating to bring on new projects and delays to those previously planned. It has put many indirect jobs provided by the industry— at risk.

Organisations are strategising and re-strategising to thrive in a post-COVID world, providing management and strategy consulting opportunities. However, the speed of recovery may vary across regions. The massive cash bail-outs—by Governments—in developed countries; and the quick re-opening of economies in most developing countries has accelerated the industry’s resurgence. Human resource consulting has been the most badly affected as companies freeze hiring and many low skilled workers living on unemployment benefits are hesitating to return to work.

Books

• The McKinsey Way by Ethan Rastel
• Case Interview Secrets by Victor Chen
• The Lords of Strategy by Walter Kiechel
• Competitive Strategy by Michael E. Porter
• Business Consulting by Fiona Czerniaeska & Gilbert Toppin
• How To Get Into The Top Consulting Firms by Tim Darling
• The Consulting Bible by Alan Weiss

Publications

• Publications of Consulting Firms: McKinsey Quarterly, BCG Perspectives, Strategy+, THINK: ACT, and Oliver Wyman Insights.
• Harvard Business Review
• Consultancy.org
• The Economist
• Bloomberg
• strategy+business

Podcasts

• Economist; The Intelligence
• Everything Business Consulting
• The Art of Consulting
• Case Interview Preparation & Management Consulting
• Podcasts of Consulting Firms; Deloitte, PwC, McKinsey

Movies and TV Series

• Up in the Air (movie)
• Margin Call (movie)
• Mad Men (series)
• Suits (series)
• House of Lies (series)

Events

You can look out for summits, forums, and conferences organised by consulting firms such as Deloitte, PwC, KPMG, and Ernst & Young.