Management consulting sector top pick for graduates

16 June 2015 Consultancy.uk

Business students in the Netherlands see the management consultancy field as the best pick to start their career, a study of Bachelor and Master students finds. Management Consulting is seen as especially important to the students’ desire for entrepreneurship, a good work- life balance and to develop their leadership skills.

Every year Universum performs research into the career paths seen as favourite among university students. The global talent research company conducts the study in more than 20 countries, including among others the UK, Germany and the Netherlands. In the 2015 edition of the Dutch study, more than 12,500 master and bachelor students from more than 30 universities were surveyed.

Management Consulting
The research shows that management consulting is the favourite field in which business students would like to start their career. In total 42% of respondents indicated consulting as their favourite segment, which is a small decrease from last year (45%), but still by far the most popular field. As a comparison, the second most popular choice is the fast growing media- and advertising branch at 26% (last year at 10%), followed by the banking sector at 19% (last year 21%). Aspirations to work in the transport- and logistics (8%), retail (11%) and the public sector (11%) are considerably lower.

Top 10 favourite sectors for university students

The reasons why management consulting is so popular is generally myriad among students, even if one thing appears clear: in the eyes of up and coming business talent the discipline meets their diverse desires. The research finds that about 55% of the respondents seeks to foster their ‘entrepreneurial’ spirit and to ‘develop creative and innovative concepts’. Since 2012 (then 49%) this desire plays and increasingly important role and is by far the most frequently mentioned by business students.

Furthermore, around 49% of students seeking an industry in which they can ‘have a good work-life balance'. The consultancy field is known for its hard work, but also for the quality of its secondary employment benefits which offset the hard work and provide an opportunity for balance (for example, unpaid leave, working from home, working arrangements for mothers, etc). Finally, developing ‘leadership and the capacity to manage people’ was cited as an important career objective by graduates, something seen as important by 35% of students in 2012 and now standing at 47%. Factors that play a smaller role in business students’ career desire include ‘being impartial’ (16%), ‘a safe and stable job’ (25%) and ‘being a functional or technical expert’ (8%).

Career objectives of university students

In 2014 management consultancy was also the favourite field for Dutch university students.

Favourite employers
The study also asked respondents to nominate their favourite potential employers. EY, PwC and KPMG led the pack, but also Big Four rival Deloitte and strategy consulting firms The Boston Consulting Group, McKinsey & Company, Roland Berger, Strategy& and Bain & Company stand high on the wish list for Dutch university students.

More news on

×

Accenture's push into the creative sector is an identity crisis

18 April 2019 Consultancy.uk

In its latest push into the creative sector, Accenture Interactive acquired New York and London-based ad agency Droga5 earlier this month, adding illustrious clients such as HBO, Amazon and The New York Times to its roster of clients. With the latest in a long line of similar purchases, Accenture Interactive further demonstrated its ambition of becoming the globe’s leading trusted advisor to chief marketing officers. Yet according to Ben Langdon, Chairman of Class35, Accenture’s strategy may be heading in the wrong direction.

A press release on Accenture’s website announcing the acquisition sits next to a quote stating that “brands aren’t built through advertising” – a huge contradiction from a consultancy firm hell-bent on becoming the ‘CMO agency of choice’. It’s not alone of course. The entire consulting industry wants a piece of the creative pie right now. In addition to Accenture Interactive, recent acquisitions by PwC Digital, IBM iX, and Deloitte Digital meant that in 2017, for the first time ever, four of the world’s ten largest creative agencies were consultancies.

So just what it is that Accenture wants to achieve from this? For one thing, it’s clearly trying to be a digital transformation business. A one-stop creative shop rivalling more traditional models, it wants to lure CMOs in with the promise of lower ad spend and a “more impactful customer experience”. At the same time, though, it’s still in thrall to those same slinky, shiny branding and advertising agencies it’s attempting to disrupt. The Droga5 acquisition and that of Karmarama a few years before are both testament to this.

There’s a fundamental problem with this, though. Digital transformation businesses don’t sell to CMOs. These people have enough on their plates trying to transform their own marketing skills in order to keep up with an ever-changing market – they just don’t have the time or the energy to concern themselves with digitally transforming a whole business. If Accenture’s purpose is digital transformation, then going after creative agencies is barking up the wrong tree.Is Accenture's push into the creative sector an identity crisis?

Worlds apart

Perhaps more importantly, these two industries are worlds apart in terms of the way they think. Creative agencies are all about ideas, campaigns and consumers. Digital businesses, on the other hand, are customer-driven – they think in terms such as lifetime value, measurement, and efficiency. Customer-led thinking is an entirely different beast to consumer-led thinking.

The reality is that the arrival of digital and an all-encompassing obsession with technology, measurement and social has led to the death of agencies in a reductive, zero-sum, efficiency-focused battle with brands. Indeed, agencies have become so obsessed with the latest tech fads, they’re beginning to forget how brands work. Worse still, they’re beginning to forget how brands are built. And, by forgetting, they’re destroying their own values.

Killing creativity

All things considered, it really feels to me as though Accenture is a chip leader in a game it doesn’t understand. Expensive acquisitions like these show that they’ve got the big money, but they don’t appear to have any idea what they’re doing with it. Take talent, for example. The best talent in the creative industry right now is out in the market; it’s not tied to any one agency. Both agencies might well be at the top of their game, but why would a consulting firm waste so much money on buying them when they could hire high-quality creative talent on a contingent basis instead?

As their presence in the top 10 creative agencies shows, there is a growing trend in which Accenture, like many of the other big players, are buying up agencies as if they were nothing more than keywords. What they’re really buying, though, is a collection of credentials, clients and IP. Unfortunately, the talent that created those credentials aren’t going to stay at the business, the clients that hired the agency in the first place won’t be interested in buying what is basically just another part of Accenture, and the IP never really existed to begin with.

Droga5, for example, was one of the few agencies that did great brand work the old-fashioned way – undoubtedly something that made it attractive to Accenture in the first place. The irony, though, is that by leading it further away from the way of working that made it so special, the consulting giant will kill its creativity.

“Accenture Interactive has been dazzled by its ambitions to become the CMO agency of record…. But, in flashing its cash, it is spending millions on acquiring nothing of any value.”

If pressed, the recently acquired agency staff at Accenture will tell you just how dysfunctional the new arrangement is. They’re largely unfulfilled. Rarely do they feel their work has any sort of meaning or purpose. What’s more, the different disciplines have found little or no common ground, and find it hard to work together as a cohesive whole. It’s not surprising, then, to see talented people leaving in droves.

Beyond the window dressing 

It’s clear, then, that consulting firms and creative agencies are no easy bedfellows. But in his company’s defence, Accenture Interactive’s Senior Managing Director for North America, Glen Hartman, described its culture as being “far, far away from what a stereotypical consulting firm would look like. Our office and studios look a lot like Droga5’s.”

In demonstrating a belief that office design equates to workplace culture, this statement serves as an illustration of how confused Accenture is right now. It wants to justify its new strategy so badly, it’s started dressing like a creative agency. But if you look beyond the window dressing and see that you and your partners are speaking a different language with a different purpose, selling to different people in a different market, there’s no getting away from the fact that you’re different.

Accenture Interactive has been dazzled by its ambitions to become the CMO agency of record, and it wants to dazzle others with its new direction. But, in flashing its cash, it is spending millions on acquiring nothing of any value.

Related: Space between consulting firms and creative agencies is converging.