With disruptive technology rapidly changing the mould of many traditional businesses model, consulting companies with experts in the respective fields continue to see demand for their services grow. To stay competitive, McKinsey & Company UK recently announced it is looking to acquire MBAs with tech experience to join the firm as associates in its London office.
McKinsey & Company is one of the most prestigious consulting firms of the globe. The world, however, is changing rapidly with disruptive technologies creating unexpected competition and rapidly changing the rules of the game in industries so far affected – for instance consider the effect of Uber on the taxi industry or the impact of sharing economy concepts as Airbnb for a plethora of industries.
As part of wider research into the consulting industry, Source Information Services found that the UK consulting industry as a whole grew 6.6% to £6 billion last year, with in particular the technology sector seeing strong growth of 7.7% last year. The trend is reinforced by recent research from the Management Consultancies Association, revealing that digital and technology services now account for a quarter of consulting firms’ income – with many looking to develop specialist teams through acquiring start-ups or through forming internal teams.
In line with its ambition to grow its market position in the UK – one of McKinsey’s key global hubs – the strategy consultancy has drafted an ambitious recruitment target to attract MBA graduates to its London office to take on the role of technology associate within its so-called Business Technology Office (BTO). The practice was founded in 1997, and has since in the light of the growing role of IT grown strongly, to the current ~800 consultants in 50 offices in more than 25 countries. The advisory is particularly interested in those with five or more years’ experience in a technology company, and analytical and quantitative problem-solving skills. The aim of the hires will be bolster its offerings in the realm of disruptive technologies, big data, social media and cloud computing which in recent years have been opening up new service lines, and jobs.
Carmen Gonzalez, associate director of ESADE Career Services, one of the academic institutions which serves a hunting ground for McKinsey, says: “Consulting firms are also looking for candidates who are able to think outside the box and make creative assumptions, rather than simply following standardised frameworks.”