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Consulting jobs have gone through what can be likened to a rollercoaster ride through the years.
Consulting jobs were abundant and paid off well in strategy firms. These firms were the run-to organizations for many corporations. They did consulting jobs on various corporate issues, be it financial, human resources, marketing and the like. People in consulting jobs had never been more rewarded with perks and hefty paychecks. And of course they were. These strategy firms wanted to keep the best people in their consulting jobs. For strategy firms, their advantage was the people in their consulting jobs.
So, these lucky people in consulting jobs were sent to the Ivy Leagues for further studies. They were encouraged to pursue their MBAs, with their strategic firms paying tuition. They were loyal to the firm and looked forward to being made Partner. People in consulting jobs never had it better.
Then came the late nineties, the time of the dotcom boom. With the dotcom boom, many of these people in consulting jobs left strategy firms. There was so much promise in dotcom companies that they either took consulting jobs there or put up their own dotcom. There was a certain excitement and challenge to the boom, even to people already in cushy consulting jobs. With dotcom companies, it was a new world. People in consulting jobs had the leeway to try out new business models and earning paradigms.
Take as example Brent Hoberman. Hoberman had a consulting job at Spectrum Strategy. He was already a Senior Associate. With the dotcom boom, he left his consulting job to partner with Marth Lane Fox and found Lastminute.com. Lastminute.com was a website for last minute travelers.
When the dotcoms crashed in 2000, there was also a lack in corporate consulting jobs. This lasted until 2004. This put people in consulting jobs - whether dotcoms or not - in a tight spot. There were not that much traditional consulting jobs to turn to. At the same time, either way they go, there weren't any job security either. So, a lot of these consultants turned to freelancing. This way, they got flexible work hours and the choice to focus on areas they like.
This trend seemed to continue to this day. Even when a lot of firms are rehiring, some consultants have choices to work as freelance associate and not join the formal work setting. With the growing online social and business networking, many have turned back to the internet to market their consulting services.
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