The Changing Balance of People and Technology

Abstract

Some food for thought:

• A survey in the Financial Times in January 1998 showed that consultancies are the largest single recruiters of MBA students. But, within three years of being recruited, almost a third of these people had moved on.

• One estimate suggests that a total of 250000 new recruits will be required by the industry by 2000.¹

• Assuming an average salary of $80 000, recruitment agency fee of 25 per cent of salary, and $10000 for induction, the recruitment bill for a big consultancy is something in the region of $50m per annum. And this probably just covers attrition: firms that plan to expand will be spending far more.

• In 1998 Fortune reported that first-tier Consulting firms were, in fact, offering $92000 to new graduates.