Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul class="summary-list"><li>Consulting firms have faced increased employee turnover after layoffs and delayed start dates.</li><li>The industry still sees <a target="_blank" class="" href="https://www.businessinsider.com/how-to-get-hired-top-consulting-firms-bcg-mckinsey-pwc-2024-7">high application rates</a>, but its allure has waned for some workers.</li></ul>For one young woman who joined Accenture right out of college, consulting was a crash course in the corporate world. She became a whiz with tools like Excel and <keyword id="19974445" type="General" weightage="20" keywordseo="tableau" source="keywords">Tableau</keyword> and she learned how to speak to executives. Over her four years at the firm, though,she grew tired of the rote nature of her work. Plus, she said, she was often brought in just to validate a client's own thinking. "A lot of junior consultants don't realize how many of these projects are actually already what I call 'predestined,'" the woman, who requested anonymity to avoid jeopardizing her career prospects, told Business Insider. "There's an end destination, but you kind of have to go through the motions, and that's just super demoralizing for the people on the team." For decades, business students and MBAs looked to consulting because the work was high in pay and prestige. But a tough couple of years in the business, which have included <a target="_blank" href="https://www.businessinsider.com/analyst-laid-off-deloitte-happier-work-culture-felt-toxic-2024-9">layoffs</a> and <a target="_blank" href="https://www.businessinsider.com/college-grad-start-dates-at-consulting-firms-getting-pushed-back-2023-8">delayed start dates</a> for new hires, have pushed some consultants — even some who've been at it a while — to reconsider a business once synonymous with generous expense accounts and stability. <h2>The lure of other industries</h2>The declining appeal of the consulting industry is most evident in the number of employees leaving. Almost every <a target="_blank" class="" href="https://www.businessinsider.com/salary-of-consultants-accountants-big-4-deloitte-kpmg-ey-pwc-2020-7">major consulting firm</a> has seen more workers leave than join over the last two years, said Jason Saltzman, director of growth at <a target="_blank" href="https://www.livedatatechnologies.com/">Live Data Technologies</a>, whichcollects real-time employment data. And those who have been leaving are more seasoned than those who have left in years past. The tenure of departing consultants has increased by 7% in the last 18 months compared with the average over the prior decade. One perk of consulting was that veterans could often parachute into adjacent industries or perhaps eventually land plum roles with former clients. Now, some departing workers are being lured away by the cachet of the tech industry. Five former consultants told BI that they transitioned to startups or venture capital — after years at majorconsulting firms — in hopes of finding more fulfilling work. But perhaps an even more worrisome trend for consulting companies is that <a target="_blank" class="" href="https://www.businessinsider.com/consulting-has-a-gen-z-problem-2024-8">younger consultants</a> are starting to view them as a stepping stone to something better rather than a prestigious lifetime career. "My parents are both entrepreneurs, so I have a deep respect for founders who are taking big risks to bring their ideas to life," Jyothi Vallurupalli, a former <keyword id="19979918" type="General" weightage="20" keywordseo="mckinsey" source="keywords">McKinsey</keyword> consultant who is now an investor at venture firm Lightbank, told BI. "When I was leaving consulting, I realized VC would allow me to partner with passionate founders across various industries from the early days of their journeys, and I saw it as an opportunity to contribute to building something meaningful." After leaving McKinsey in 2023, Ezra <keyword id="23378831" type="General" weightage="20" keywordseo="gershanok" source="keywords">Gershanok</keyword> founded the sublet startup <a target="_blank" class="" href="https://liveohana.ai/?gad_source=1&amp;gclid=CjwKCAjw0t63BhAUEiwA5xP54RdqcZjXkUsYf92_WSBaB-nX6HYA1EY-berHwS54PiNjeadN76JnZhoC4WIQAvD_BwE">Ohana</a>. He's since launched a four-week internship for college students interested in consulting. "When I was an interviewer at McKinsey, one of the pillars that they would hire for was entrepreneurship," Gershanok said. Now, he and his team market these internships to students as a "here's how you could check that box in the interview process." But, he said, many of the interns ultimately want to stay at Ohana or look for other startup jobs. Gorick Ng, a Harvard University career advisor and author of <a target="_blank" href="https://www.gorick.com/unspokenrules">"The Unspoken Rules</a>," told BI that he's seen an uptick in the number of students who intern with consulting firms but choose not to return for a full-time role. He said some students would spend the bulk of their undergraduate years angling to land an internship at a big firm — preparing for interviews, attending information sessions, doing coffee chats, and networking with alums — only to learn once they got the internship that the work wasn't for them. Ng said many students soon realize that the thrill of landing a prestigious job often fades. What matters more is whether the work is appealing. "Is this a day-to-day that I would find fulfilling, and is this something that I can really see myself doing long term?'" Ng said. <h2>A rough time for consulting firms</h2>Even consultants who have been at it for a while are leaving the industry. <keyword id="23378830" type="General" weightage="20" keywordseo="matt-sternberg" source="keywords">Matt Sternberg</keyword> is the COO of Accelerant, a startup that connects insurance underwriting firms to financial institutions. Before joining the company in 2023, <keyword id="23378829" type="General" weightage="20" keywordseo="sternberg" source="keywords">Sternberg</keyword> spent a decade at Boston Consulting Group, a top-tier firm in the industry. He left the firm as a managing director and partner. Sternberg told BI that he's heard from former colleagues — including people who've been a partner longer than he had — who are inquiring about life beyond consulting. That's different from when he left in 2022, when there was a pandemic-fueled boom for consulting work. Now, people are "looking externally" more than they were in previous years, he said. Sternbergsaid that he felt his former industry was cutting staff too deeply in 2023, during what was a "really challenging year" for the business. "I worry they have started to erode their culture," he said, adding that some firms also pulled back on benefits. A recent post on Reddit from someone who wrote that they work for a Big Four consulting firm in London said one reason people might be tempted to give up on the industry is that remote work can make it harder to <a target="_blank" href="https://www.reddit.com/r/consulting/comments/1es6396/why_are_so_many_young_people_leaving_the/">connect with colleagues</a> — the main thing that made the job bearable, the poster said. "Constantly tapping away from in front of my screen on my kitchen table in a shared flat is more depressing than 1,000 cringe pizza parties," the person wrote. A cutback in perks like flights to client offices and expensed dinners also makes the work less attractive. <h2>Consulting is not the launching pad it used to be</h2>Consulting hasn't lost its allure for everyone, of course. That's clear from the number of applications the big firms receive. A McKinsey spokesperson told BI in July that the firm plans to <a target="_blank" href="https://www.businessinsider.com/how-to-get-hired-top-consulting-firms-bcg-mckinsey-pwc-2024-7">hire fewer than 1%</a> of those who apply. The company gets about 1 million résumés each year. Ernst &amp; Young received over 4 million applications in the past year and hired about 140,000 people, Irmgard Naudin ten Cate, EY's global talent attraction and acquisition leader, told BI in July. Yet even as many people try to add a big-name firm to their résumé, some outside the industryare these days less interested in attracting erstwhile consultants. Atli <keyword id="23378828" type="General" weightage="100" keywordseo="thorkelsson" source="keywords">Thorkelsson</keyword>, who helps startups recruit at the venture capital firm Redpoint Ventures, told BI that founders often looked to people with a consulting background for generalist roles, such as a chief of staff or someone who could be a sounding board for a startup CEO who might have agood idea but not a lot of business experience. But lately, Thorkelsson said, he's seeing "less excitement" from founders about workers who have consulting on their résumé than there had been around 2017 to 2018. Even as the industry's pull fades, giving up a lucrative job that can be tough to land isn't necessarily easy. "When I was transitioning out of consulting, consulting was actually still all the rage. It's like high prestige, high pay," the former Accenture consultant said. "That part was scary, to be honest." Do you have something to share about what you're seeing in consulting? Business Insider would like to hear from you. Email our consulting team from a nonwork device at <a target="_blank" href="mailto:deliverable@businessinsider.com">deliverable@businessinsider.com</a> with your story, or ask for one of our reporter's Signal numbers. Correction: September 20, 2024 — An earlier version of this story misstated the name of the company where Matt Sternberg is COO. It is Accelerant, not Accelant.

How consulting lost its cool

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">A. Messerschmidt/Getty Images</div></div></div>The Chicago Cubs are back in the World Series for the first time since 1945, and a lot of credit is being given to Joe Maddon for both his ability to manage a game and his even better ability to manage the culture of a team.But while it is hard to imagine the Cubs without Maddon now, it might have never have happened if the Tampa Bay Rays didn't concede to a "ballsy" demand by Maddon when he interviewed for their managerial vacancy in 2005.In November, 2005, the then-Devil Rays had just finished their eighth straight season of at least 90 losses, had parted ways with manager Lou Piniella, and Stuart Sternberg had just taken over as the principal owner. One of the finalists for the vacany managerial position was Los Angeles Angels bench coach Joe Maddon.Maddon had lost out on the Boston Red Sox managerial opening after the 2002 season, a job that was coincidentally given to now-Cleveland Indians manager Terry Francona. So you'd forgive Maddon if he would be hesitant to make any bold demands of the Devil Rays. But that is not Maddon's style.You see, Maddon already had an important appointment during the 2006 season - his girlfriend's law school graduation - and Maddon was not going to miss it.Here is how Maddon described the demand a few years later for "ESPN the Magazine":"One of my favorite Rays memories is my first one. When Matt Silverman and Andrew Friedman interviewed me in 2005, I made a special request. 'If I get the job, can I have two days off next May to attend my girlfriend's law school graduation?' Jaye and I weren't married yet.I know, it was pretty ballsy of me. But they smiled and assured me it would not be a problem. So when I did get the job, I knew I was going to the right place."Curiously, the Devil Rays won both of those games as bench coach Bill Evers filled in against the then-Florida Marlins.But it is amazing how history can turn on simple things. Many teams would not have agreed to the demand. If Maddon had not been hired by the Devil Rays, maybe he gets another job elsewhere, or maybe not. But more importantly, even if he were managing another team, maybe he would not have had a weird opt-out in his contract that let him leave the Rays for the Cubs in November, 2015. And if that doesn't happen, maybe the Cubs aren't in the 2016 World Series. <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/extra-shoelace-hole-sneakers-running-lace-heel-lock-2016-10">We finally learned the purpose of that extra shoelace hole on your sneakers</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="8wZG90NjE64jsqifkoGHALquDqs-rkJh" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

Joe Maddon got his first job as a manager despite making a 'ballsy' demand during the interview

<div class="KonaFilter image-container display-table float_right"><div><div class="image on-image">AP Photo/Mark J. TerrillDonald Trump.</div></div></div>Tech leaders are taking a stand against Donald Trump.In <a href="https://medium.com/@KatieS/an-open-letter-from-technology-sector-leaders-on-donald-trumps-candidacy-for-president-5bf734c159e4#.hunna75a7" target="_blank">a scathing open letter</a> posted by former Twitter vice president Katie Stanton, leaders from some of Silicon Valley's biggest tech companies, venture-capital firms, and startups voiced their concerns about a Trump presidency - specifically, that Trump "stands against the open exchange of ideas, free movement of people, and productive engagement with the outside world that is critical to our economy."The letter is signed by more than 140 tech leaders, including:<ul><li>CEOs of relatively young tech companies and startups such as Box, Twilio, Slack, TaskRabbit, and Tumblr.</li><li>Well-known VCs and investors like Vinod Khosla, Pierre Omidyar, Shervin Pishevar, and Chris Sacca.</li><li>Tech industry veterans like former Cisco CTO Padmasree Warrior, Apple cofounder Steve Wozniak, and Interactive Corp. CEO Barry Diller.</li></ul>Tech leaders who openly support Trump are rare, with the <a href="http://www.businessinsider.com/peter-thiel-speaking-at-republican-national-convention-2016-7">exception of Peter Thiel</a>, who is a delegate for Trump and will speak at the Republican National Convention next week.<a href="https://medium.com/@KatieS/an-open-letter-from-technology-sector-leaders-on-donald-trumps-candidacy-for-president-5bf734c159e4#.jcv3hsuw9">Read the whole thing here&gt;&gt;</a>Here's the full list of signatories:Marvin Ammori, General Counsel, Hyperloop One Adrian Aoun, Founder/CEO, Forward Greg Badros, Founder, Prepared Mind Innovations; Former Engineering VP, Facebook Clayton Banks, Co-Founder, Silicon Harlem Phin Barnes, Partner, First Round Capital Niti Bashambu, Chief Analytics Officer, IAC Applications John Battelle, Founder/CEO, NewCo, Inc. Ayah Bdeir, Founder/CEO, Little Bits Piraye Beim, Founder/CEO, Celmatix Marc Bodnick, Co-Founder, Elevation Partners John Borthwick, Founder/CEO, Betaworks Matt Brezina, Co-Founder, Sincerely and Xobni Stacy Brown-Philpot, CEO, TaskRabbit Brad Burnham, Managing Partner, Union Square Ventures Stewart Butterfield, Co-Founder/CEO, Slack Troy Carter, Founder/CEO, Atom Factory Sukhinder Singh Cassidy, Founder/CEO, Joyus Vint Cerf, Internet Pioneer Amy Chang, Founder/CEO, Accompany Aneesh Chopra, President, NavHealth; Former US CTO Patrick Chung, General Partner, Xfund Tod Cohen, General Counsel, StubHub Stephen DeBerry, Founder/Managing Partner, Bronze Investments Peter Diamandis, Entrepreneur; Author, Abundance and BOLD Barry Diller, Chairman, Expedia and IAC Esther Dyson, Executive Founder, Way to Wellville; Investor Amy Errett, Founder/CEO, Madison Reed Caterina Fake, Founder/CEO, Findery; Co-Founder, Flickr Christopher Farmer, Founder/CEO, SignalFire Brad Feld, Managing Director, Foundry Group; Co-Founder, Techstars Josh Felser, Co-Founder, Freestyle Capital &amp; ClimateX Hajj Flemings, Founder/CEO, Brand Camp University Natalie Foster, Co-Founder, Peers David Grain, Founder/Managing Partner, Grain Management, LLC Brad Hargreaves, Founder/CEO, Common Donna Harris, Co-Founder/Co-CEO, 1776 Scott Heiferman, Co-Founder/CEO, Meetup David Hornik, General Partner, August Capital Terry Howerton, CEO, TechNexus Reed Hundt, Former Chair, FCC Minnie Ingersoll, COO, Shift Technologies Sami Inkinen, Founder/CEO, Virta Health; Co-Founder, Trulia Craig Isakow, Head of Revenue, Shift Technologies Rev. Jesse L. Jackson Sr., President and Founder, Rainbow PUSH Coalition Irwin Jacobs, Founding Chairman/CEO Emeritus, Qualcomm Inc Paul Jacobs, Executive Chairman, Qualcomm Inc Leila Janah, Founder/CEO, Sama &amp; Laxmi Sujay Jaswa, Former CFO, Dropbox; Founder, Witt Capital Partners Mark Josephson, CEO, Bitly Sep Kamvar, Professor, MIT David Karp, Founder/CEO, Tumblr Jed Katz, Managing Director, Javelin Venture Partners Kim Keenan, President/CEO, Multicultural Media, Telecom &amp; Internet Council Ben Keighran, Entrepreneur; Former Design Lead, Apple William Kennard, Former Chair, FCC Vinod Khosla, Founder, Khosla Ventures; Co-Founder, SUN Microsystems Ron Klain, Executive Vice President, Revolution LLC Walter Kortschak, Former Managing Partner and Senior Advisor, Summit Partners Jared Kopf, Founder AdRoll, HomeRun, Worldly Joseph Kopser, Co-Founder, Ridescout Karen Kornbluh, Former US Ambassador, OECD Othman Laraki, Co-Founder/President, Color Genomics Miles Lasater, Serial Entrepreneur Jeff Lawson, CEO, Twilio Aileen Lee, Founder/Managing Partner, Cowboy Ventures Bobby Lent, Managing Partner, Hillsven Capital Aaron Levie, Co-Founder/CEO, Box John Lilly, Partner, Greylock Partners Bruce Lincoln, Co-Founder, Silicon Harlem Ruth Livier, President, Livier Productions, Inc. Mark Lloyd, Professor of Communication, University of Southern California?-?Annenberg School Luther Lowe, VP of Public Policy, Yelp Nancy Lublin, Founder/CEO, Crisis Text Line Kanyi Maqubela, Partner, Collaborative Fund Jonathan Matus, Founder/CEO, Zendrive Josh McFarland, Vice President of Product, Twitter Andrew McLaughlin, Head of New Business, Medium; Venture Partner, betaworks Shishir Mehrotra, Entrepreneur &amp; former VP of Product &amp; Engineering, YouTube Apoorva Mehta, Founder/CEO, Instacart Doug Merritt, CEO, Splunk Dinesh Moorjani, Founder/CEO, Hatch Labs; Co-Founder, Tinder Brit Morin, Founder/CEO, Brit + Co Dave Morin, Entrepreneur; Partner, Slow Ventures Dustin Moskovitz, Co-Founder, Asana; Co-Founder, Facebook Amanda Moskowitz, Founder/CEO, Stacklist Alex Nogales, President/CEO, National Hispanic Media Coalition Alexis Ohanian, Co-Founder, Reddit Mike Olson, Founder/Chairman/CSO, Cloudera Pierre Omidyar, Founder, eBay Felix W. Ortiz III, Founder/Chairman/CEO, Viridis; Board Member of The NYC Technology Development Corporation Jen Pahlka, Founder/Executive Director, Code for America Barney Pell, Founder Powerset, MoonExpress, Locomobi; Founding Trustee, Singularity University Mark Pincus, Executive Chairman and Founder, Zynga Shervin Pishevar, Co-Founder/Managing Director, Sherpa Capital and Co-Founder/Executive Chairman of Hyperloop One Brandon Pollack, Director of Global Affairs, 1776 Amy Rao, Founder/CEO, Integrated Archive Systems, Inc. Eric Ries, Entrepreneur &amp; Author, The Lean Startup Justin Rosenstein, Co-Founder, Asana Alec Ross, Author, The Industries of the Future Javier Saade, Venture Capitalist; Former Associate Administrator, SBA Chris Sacca, Founder/Chairman, Lowercase Capital Dave Samuel, Co-Founder, Freestyle Capital Julie Samuels, Executive Director, Tech:NYC Reshma Saujani, Founder, Girls Who Code Chris Schroeder, Venture Investor; Author, Startup Rising Jake Schwartz, Co-Founder/CEO, General Assembly Robert Scoble, Entrepreneur in Residence and Futurist, Upload VR Kim Malone Scott, CEO, Candor, Inc; Former Director, Google Tina Sharkey, Partner, Sherpa Foundry &amp; Sherpa Capital Clara Shih, Co-Founder/CEO, Hearsay Social Shivani Siroya, Founder/CEO, InVenture Steve Smith, Executive Director, Public Policy Institute, Government Relations &amp; Telecommunications Project, Rainbow PUSH Coalition Jonathan Spalter, Chair, Mobile Future DeShuna Spencer, CEO, kweliTV Katie Stanton, CMO, Color Genomics; Former VP of Global Media, Twitter Jenny Stefanotti, Co-Founder, OneProject; Board of Directors, Ushahidi Debby Sterling, Founder/CEO, Goldiblox Seth Sternberg, Co-Founder/CEO, Honor Margaret Stewart, Vice President of Product Design, Facebook Jeremy Stoppelman, CEO, Yelp Michael Stoppelman, SVP, Engineering, Yelp Baratunde Thurston, Former supervising producer, The Daily Show with Trevor Noah; Co-Founder, Cultivated Wit Stephanie Tilenius, Founder/CEO, Vida Health; Board of Directors, Seagate Technology Richard D. Titus, Entrepreneur; SVP, Samsung Anne Toth, VP of Policy &amp; Compliance, Slack Bill Trenchard, Partner, First Round Capital April Underwood, VP of Product, Slack Max Ventilla, Founder/CEO, AltSchool Tabreez Verjee, Co-Founder/Partner Uprising; Board Director Kiva.org Jimmy Wales, Founder of Wikipedia Hunter Walk, Partner, Homebrew VC; Former Director of Product Management, Google Tristan Walker, Founder/CEO, Walker &amp; Company Brands, Inc.; Founder/Chairman, Code 2040 Ari Wallach, CEO, Synthesis Corp. Padmasree Warrior, CEO, NextEV USA; Former CTSO, Cisco Laura Weidman Powers, Co-Founder/CEO, Code2040 Kevin Weil, Head of Product, Instagram Phil Weiser, Hatfield Professor of Law, University of Colorado and Executive Director of the Silicon Flatirons Center Daniel J. Weitzner, Principal Research Scientist, Computer Science and Artificial Intelligence Lab, Massachusetts Institute of Technology Emily White, Entrepreneur; Former COO, Snapchat Ev Williams, Founder/CEO, Medium; Co-Founder Twitter, Blogger Monique Woodward, Venture Partner, 500 Startups Steve Wozniak, Co-Founder, Apple Tim Wu, Professor of Law, Columbia University Andrew Yang, Founder/CEO, Venture for America Arielle Zuckerberg, Partner, Kleiner Perkins Caufield &amp; Byers <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/apple-iphone-ios-android-annoying-problem-2016-6">The most annoying thing about the iPhone isn't changing any time soon</a></h3> <div> <div> <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="VibW5jNDE69GzqusUkQ8TPgI7rpDSkvZ" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div> </div> </div> </div>

You Searched For "matt sternberg" and got 3 results

How consulting lost its cool

Lakshmi Varanasi,Tim Paradis,…

Joe Maddon got his first job as a manager despite making a 'ballsy' demand during the interview

Cork Gaines

More than 140 tech leaders agree: 'Trump would be a disaster for innovation'

Avery Hartmans

Popular Keywords

Buying Guides