Hi,
It highly depends on your location, company preferences, position. I can explain it in the following way:
Firms:
- MBB: less affected, interviews are still conducted, offers are issued for Q3 and Q4 2020 and Q1 2021; companies still have business and enough liquidity to survive; some offices expect to grow in terms of revenue for 2020
- Tier 2: highly affected, the general trend is that interviews are postponed, the majority of firms do not issue offers, some firms experience liquidity gaps and cut FTE or ask employees to take an unpaid leave
- BIG 4: less affected, advisory business experiences problems, but recurring revenue from Tax and Audit allows to manage through temporary uncertainty
Geographic coverage:
- USA: the strongest market for consulting, interviews are conducted, offers are issued, consulting revenues might even grow
- Europe: consulting is affected, but is expected to recover in Q3 and Q4
- CIS: consulting is affected, MBB and BIG 4 will survive, as well as Accenture, but boutiques have liquidity problems
- Asia: consulting revenues begin to recover, but Hong Kong political crisis still creates uncertainty around Financial sector and transportation (that affects consulting revenues from these industries)
- Middle East: MBB firms still conduct interviews, consulting business starts to recover slowly, low oil prices still slow down the economy
- Latin America: no info
- Australia: no info
Positions:
- Interns: affected, interns is a long term game for consulting firms (as well as a way to handle “monkey” tasks) and consulting firms at the moment are not super focuses on long term investments
- Junior and middle management: less affected, hiring is in progress across MBB and Big 4
- Principals & partners: less affected, consulting firms still look for experienced leaders
Programs:
- Summer programs: the majority of programs are cancelled, bad news
- Full time: highly depends on other factors
Career tracks:
- Generalists: generally affected as consulting firms currently have more demand towards digital and data driven projects
- Industry focused experts: depends on the industry, but oil and gas industry is affected
- Digital experts: almost not affected, high demand for digital projects and the supply of experts is weak
- Data scientists: not affected at all, consulting firms are heavily hiring data scientists
Hope this helps!
Anton