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Opportunities in a depressed economy ?

#1 Opportunities in a depressed economy ?
14/08/2001 00:00


I've been reading the previous postings on this forum and have been concerned that industry is as bad as the media's being portraying. It's harder to believe, considering how bouyant the industry was, not more than 12 months ago, when unassigned consultants sitting on the bench were an endagered species.

I left Accenture 12 months ago, for a career break, believing that the industry would be just as prosperous upon my return and that I would be able to resume my career with little problems. Now with redundancies and recruitment freezes the norm across many consultancies, this may not be such an easy proposition.

What are the odds for a consultant with over three years experience with banking clients within a number of different spheres including IT; CRM and Strats to quickly re-enter the workforce and continue a fulfilling and challenging career.

Should I apply directly to the usual suspects or can someone recommend any channels to pursue ?


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#2 Re: Opportunities in a depressed economy ?
16/08/2001 00:00


Hello H;

I am an executive search consultant and have been retained by a long term client to identify an individual that would be capable of, and excited about, a key executive leadership position in driving their future business growth. I would certainly appreciate any help you can give me. This is a role as the head of strategic marketing for a major business vertical ($200M revenues/High Tech), but it is far from your typical marketing role. This client is a pre-IPO eCommerce/Software Solutions Company that is in very strong financial standing. They are actually profitable in today’s volatile market! They have been around for several years and are operating on the "built to last" model and it is most certainly working!

This is a search for a person with deep industry domain knowledge in the high-tech (computer or peripherals) vertical. In this role you would be the driving force behind this company's penetration into this market. This is a very strategic (strategic thinking is critical) role in nature, but I am also looking for a person that will be excited about the tactical implementation of the programs and ideas that you come up with. In reality, you will a part of a new elite function that has been created to drive forward this business and the future growth of this company. You will be the expert on deciding how to penetrate your particular domain through evangelizing in the market, constant direct interface with the customer, deciding what types of products the customer needs and will be willing to pay for, working with the sales organization to determine how to prospect new customers, and developing marketing programs that will make an impact in the market. You will directly manage a small highly capable marketing/business team and then coordinate the functions of a broader set of resources within your vertical and outside centralized functions to help implement your visions for market penetration.

I am looking for a person that has a passion for building businesses, has the type of leadership characteristics that make it easy for people to want to be follow your lead, strong intellectual horse-power, to put it mildly, a true "A" player.

This is really a 20,000-foot view of what the role entails. It is truly a broad based business building role and would be great for a person that wants to get the experience needed to be in a General Manager type of role in the near future.

Again, I would appreciate any help I can get with this search. If you are not interested, please feel free to pass this along to anyone you feel may be.

Warm Regards,

Robin Walter

Founding Partner

InSpired, An Executive Search Firm


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#3 Re: Opportunities in a depressed economy ?
17/08/2001 00:00

Carmen Grima

Well, as the Recruitment Manager at Detica, a consultancvy of 260 people specialising in re-engineering the customer experience, I can tell you I have never been so busy! We are actively recruiting - you may want to look at the opportunities available on our website and see if it applies to you! Good luck!

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#4 Re: Opportunities in a depressed economy ?
17/08/2001 00:00

Nicola Mumford

Dear H,

In response to your query about returning to consulting:

I specialise in recruitment for the Management Consultancy Sector and yes it is not the best market to return to but there are opportunities out there. They are select and the entry criteria are tough but the good news is there are a lot of projects waiting to happen in the financial services sector. If you would like to discuss this further please give me a call on 020 7304 9000.

I look forward to hearing from you soon.

Kind regards

Nicola Mumford

Senior Consultant - Management Consultancy Division

Executive Connections

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#5 Re: Opportunities in a depressed economy ?
17/08/2001 00:00


Its not all bad news! Although the market has seen a dramatic slow down and a number of major global companies have taken drastic cost management actions, there is still a market for qualified, experienced consultants within the right knowledge fields. One of the areas that has not been drastically affected is the banking & finance sector due to the requirement of all online exchanges for cost effective, real time, secure transactions.

The recruitment process is tending to take slightly longer than it was last year as companies are now making much more considered decisions, with a greater choice of skilled candidates, but this is no bad thing - a return to more sensible times needed to happen.

As for the process of finding the right role, use a mix of personal networking & a recruitment consultancy to explore all avenues. If you would like to discuss this further, feel free to get in touch.



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#6 Re: Opportunities in a depressed economy ?
17/08/2001 00:00

Helen Morrish

We are a management consultancy who specialise specifically on the financial services industry. Currently looking to recruit experienced consultants, if you could send me your CV I would certainly be interested to read it with regard to opportunities here at Bluerock. Our website is if you would like to find more information about us.

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#7 Re: Opportunities in a depressed economy ?
17/08/2001 00:00


Anyone interested in creating wealth out there?

It is about how we turn the natural world into artefacts by our hard work. Help me by arranging the financial resources so that I can orchestrate benefits for our fellow man. he ideas inception and delivery of projects is my expertise.



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#8 Re: Opportunities in a depressed economy ?
17/08/2001 00:00

Martijn Sjoorda

Well, seriously...

The odds are what you make them yourself.

If you look at your background, it spells "credentials".

Accenture isn't the last consulting firm in the world, the banking vertical is solid (and sought after industry experience) and IT/business alignment cum CRM is a growth area.

Just get out there and test the water... I get the impression this has more to do with your image of yourself?

Recessions are funny things. The more you/we talk about them, the more likely they are to happen.

If you focus on who you really are and what you really want to do, I contend that you can always get a job if you are above a certain level of basic education and experience, come recession or boom. And you are... Good luck.

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#9 Re: Opportunities in a depressed economy ?
17/08/2001 00:00

Bob Anthony is a channel designed to connect individual interim managers with potential assignments, quickly and at minimal cost. The interim movement is making inexorable and accelerating progress because it makes sense. This tool can imporove the process immeasurably, for interims, agents and clients. Regards - Bob Anthony (I declare an interest as a director of, but assure that these remarks are objective.)

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#10 Re: Opportunities in a depressed economy ?
17/08/2001 00:00

Louise Billett

In response to your plea - I may not have the perfect solution currently, but thought that you may like to hear my view on the current market situation.

I am a managing consultant for a firm of Head Hunters within the telecommunications industry. My niche is telco focused consultancies. Each day I am in talks with recruiters, consultants, MD's & CEO's, in disscussion regarding the current and future recruitment issues. The level of consultants currently looking for work is not as terrible as you may think. Consultants are leaving firms and not being replaced. Insiders seem positive that we will be coming out of this slow patch towards the end of September. Companies who are going to come out of this grey patch will be looking towards improving internal operations and calling upon the services of the consultancies in the very near future. We have come this far - Here's to the future

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#11 Re: Opportunities in a depressed economy ?
17/08/2001 00:00


You need to get you CV/credentials posted on every possible online job recruitment consultancy. I spent 3mths at the beginning of the year studying new internet/web technologies, and when I too am returning to the market and also finding it increasingly difficult to work as an independent consultant and even more difficult to find a permanent position that will enable me the work opportunities in the internet marketplace. Media probably failed to release that some recruiters are publishing positions that do not exist and one's where one is interviewed and then told its gone on hold. Expect to take a drop in salary and be prepared to be extremely flexible as a large percentage of jobs that were in London our now outside. Positive thing the slow-down will get better and things will pick-up

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#12 Re: Opportunities in a depressed economy ?
17/08/2001 00:00


Please do not hesitate to contact me should you wish to discuss career management. I work for Penna Consulting (Human Capital Management) in the Executive Search arm and I have a few ideas you may find beneficial.

Regards, William

0207 647 2853

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#13 Re: Opportunities in a depressed economy ?
17/08/2001 00:00


That's a very good question. I'm a consultant with 20 years business experience and I have owned and managed consulting companies for the last 7 years with up to 35 personnel in Australia. My partner and I relocated to the UK because the Australian market is not in good shape and have been pursuing the market since Feb 2001. We have taken two approaches concurrently; 1. through the contracting agencies and 2. direct to the client as our company. Both have had a level of success but our observations so far are:

- the agencies seem to get a lot of 'tyre kicking' from the client base

- most companies have a preferred supplier base for agency relationships

- most companies have a deep loathing and fury at the large consulting houses (pay too much to do too little) and some have actively banned consultants from the usual sources

- companies still respect what a 'consultant' can/should do but are being quite specific as to the meaning of consultant (ie independant; fairly priced, experienced etc.)

- there is a general confusion as to how to handle internet, globalisation, knowledge management, efficiency management etc. and a lot of companies are slowing or holding up initiatives pending some clarity or general economic conclusions - so there's is plenty of consulting work to be done in the future.

My partner and I have a competition running between us to see if he can create 'contract' opportunities (ie via agencies)faster than I can create 'consulting'opportunities (ie via direct marketing). (But I also believe there is a hybrid to be born that is like a 'managed contractor' (ie they have methodology and training guidance but are charged only slightly above the contractor style rates).)

In answer to your question - I think you have to decide if you want to be a contractor or consultant - if you want to be a consultant then I think we are all going to find that the old consulting model is being reinvented and the future of consulting will be redefined from the large houses to specialist and elite forces that cannot charge outrageous rates and must be delivery focussed. Future consultants will be highly experienced, fast, relationship based, able to self sell, able to problem define and solution design and be charged at sensible rates.

So, it will depend on what you want to be (consultant or contractor). If consulting, then you will have to assess if you can fulfil the incoming consultant model that the market is now demanding. Smaller consulting houses have the best chances of adapting to client demands. But if contracting will do then the contract model is alive and well (compared to Australia it's bouyant - these things are all relative to the last remembered position) albeit with a lot of time wasting tyre kicking.

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#14 Re: Opportunities in a depressed economy ?
17/08/2001 00:00

W. Lam

The market is depressed and everyone is taking a wait and see attitute which makes it harder to inject new cash into the system. My experience the last month has been frustrating.

Who did you work for at Accenture? I was seeking contacts there and having a difficult time with that. My current focus is here in Chicago.


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#15 How to make a career move from Pharmaceutical industry to consultancy?
17/08/2001 00:00


Hi, I have over 7 years experience within the pharmaceutical industry working in the R&D and Business Development sections.

As my next career move, I would like to work for a consultancy.

I noticed that most consultancy job ads are aimed at new graduates. It seems very difficult to enter consultancy for people like me with previous work experience but not worked in consultancies before.

Can someone recommend any channels to pursue?

Thank you & kind regards,


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#16 Re: Opportunities in a depressed economy ?
17/08/2001 00:00

Dale Latchford

I am currently working in the headhunting business which has been specialing in recruitment for consultancies for over 20 years. From recent experiences I would suggest that sponsorship is the key to securing a role in the current climate. Applying directly means running into HR, they have a tendancy to put you on HOLD until the magic month, either September or now more commonly January.

If you are looking to get into a consultancy in this climate, go for an organisation that has a history of 'retained' business at senior levels who can out your details in front of the right partner/industry lead.

Regards, Dale


Dale Latchford

BarryLatchford Associates

DD/Telephone: +44 (0)20 7842 0852

SW/Telephone: +44 (0)20 7583 3923

Mobile Phone: +44 (0)7905 081 550

Fax: +44 (0)20 7842 0851


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#17 Re: Opportunities in a depressed economy ?
17/08/2001 00:00

Lou Pahountis

Send me your resume'. We are a high-growth consulting firm of around 200 people (primarily ex-AC / Accenture) and have a very compelling and unique business approach. I'd be interested in seeing your functional, industry and technology experiences, along with personal track record, to determine if there is a fit.

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#18 Re: Opportunities in a depressed economy ?
18/08/2001 00:00



Many thanks for responding to my posting and also to the many others who took the time out to respond and provide some avenues for me to explore. I am certainly interseted in your proposal, and would be happy to send you my resume.

Please provide me with a contact email or number. Alternatively you can contact me on the following email:


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#19 Re: Opportunities in a depressed economy ?
19/08/2001 00:00

leslie lawrence

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#20 Re: Opportunities in a depressed economy ?
20/08/2001 00:00

Jonathan Weir

Hi H

As a recruiter in the space, I can perhaps give you a little insight as to your query concerning the current economy and the potential you have to get back into your field.

On the negative side you are absolutely correct in your assessment that things have slowed down considerably within the consulting industry, the first two quarters of this year were dire from a recruitment point of view - instability reigned and with this, recruitment and expansion generally froze.

Add to this the redundancies and you have a market that is essentially flooded with candidates which has again completely turned the industry full circle inasmuch as there seems to be more candidates than vacancies, when this was not the case a year ago. As to your own situation H, the cons are that you have been out of the game for a while and possible employers may query whether or not you can add value immediately or will you have to shake of a few cobwebs in the short term ? Obviously this sort of issue crops up farther on down the line, the priority is getting to the application stage and this is the advice I can offer. The usual suspects are the obvious route, but as you know they have suffered also. I would suggest a couple of other avenues. The first one is an in-house role with a bank or the like. I don't know if you are retail or wholesale focussed but a position with an end user so to speak might be viable. The other is with the smaller independent consultancies - 30+ strong but still exposed to large clients and projects - they are out there. To remain upbeat,I can tell you that there are a lot of positives to your situation and they are as follows-

1- You have worked with Accenture, the name will go far.

2- You have worked in a good vertical market, banks will always have more money and projects.

3- You were not made redundant, although it doesn't carry the same stigma, there is still a stigma.

4- I get the impression you are quite young, this will benefit you.

In short, I think you stand a very good chance - but be open minded about what is on offer. I happen to be working with some independent consultancies that might be interested in you, if you would like a discussion feel free to get in touch and we can have a chat about what you want to achieve.


Jonathan Weir

07740 769 030

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#21 Re: Opportunities in a depressed economy ?
22/08/2001 00:00


Drop me a line

We are currently looking for consultants with IT experience


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#22 Re: Opportunities in a depressed economy ?
08/02/2002 00:00


What would you recommend for a 40 year old factory worker who quits his $6 per hour job and graduates with honors with a business degree. How would one start out in this type of business? Would one need to leave the small town his family moved to 200 years ago and move to a large city? Are there opportunities through the internet?

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