tech
We are witnessing the slow death of the prestige career
White-collar work is at risk across the board, including at elite consulting firms that used to be a pathway to the 1%
TL;DR
- Consulting firms marketed themselves as producers of excellence and future leaders, attracting top graduates with the promise of valuable skill development.
- The advent of AI has drastically altered the consulting landscape, with analysts using AI for efficiency or being instructed to do so.
- Entry-level roles in consulting are becoming fact-checking positions, as AI can now handle tasks like financial modeling and deck polishing.
- The traditional apprenticeship model is threatened, as the core skills learned through ownership and deep dives are being replaced by AI capabilities.
- Firms are reframing AI integration as accelerating junior colleagues, but this is seen as spin for workforce trimming and salary freezes.
- Clients' demand for AI infusion is driving a service-as-software model, leading to compressed delivery times and fixed fees that offer little room for junior staff learning.
- The recruitment focus is shifting towards 'churners' who can efficiently use AI agents, rather than deep thinkers.
- The exit options from consulting, a key part of its appeal, are diminishing as competition for fewer jobs increases.
- The value of spending years in consulting to gain exit opportunities is reduced, as AI erodes the competencies these exits relied on.
- The future pathway for developing leaders is uncertain, as the system that produced capable generalists is being dismantled by AI.