Entry-Level Consultants Face Decade-Long Career Shift as Firms Cut Ranks, Embrace AI and Demand Expertise

The consulting industry is undergoing a significant transformation that could reshape career paths for entry-level professionals, according to industry analysts. Once seen as a clear, linear progression from junior analyst to partner, the traditional consultant’s career ladder now faces a long-term decline in both entry-level and senior roles, driven by cost-cutting, AI adoption, and shifting client demands. Job postings in the consulting sector have fallen sharply since peaking in 2022. Revelio Labs reports that in 2024, there were about 3.4 million job postings—down 26% from the previous year. Entry-level consultant positions dropped by 54% year-over-year in June, while senior-level (manager-level) roles declined by 22%. While the downturn is most visible in strategy consulting—the segment most associated with firms like McKinsey, Bain, and Boston Consulting Group (BCG)—the broader industry is also feeling the effects. These firms overhired during the 2021–2022 boom, and now face pressure to normalize headcount. BCG added just 1,000 employees in 2024, a fraction of the 5,000 it hired in 2022. Bain reported a global loss of around 1,000 employees between 2022 and 2024. McKinsey’s workforce is estimated to have shrunk by 11% since 2022, though it hasn’t released official figures. Despite some firms signaling a return to hiring—McKinsey pointed to plans to expand entry-level recruitment, and Bain increased its North American summer MBA program by 20%—analysts remain skeptical. Namaan Mian of Management Consulted believes these announcements are partly strategic, meant to maintain brand appeal to top talent. “You still want to be seen as aspirational,” he said. “If you admit hiring will slow, top candidates may look elsewhere.” The long-term outlook is cautious. IBISWorld projects management consulting hiring growth will slow to just 1.4% by the end of the decade—the slowest pace since at least 2012. Mian expects a decade-long adjustment period, with a gradual reduction in headcount across many practice areas. The shift reflects deeper changes in the industry. Demand for broad strategy advice has waned as many companies have already undergone major restructuring. Firms are now prioritizing specialized expertise—particularly in tech, data, and digital transformation—over generalist hires. As a result, entry-level teams are becoming more selective, with fewer junior analysts and more experienced hires. Artificial intelligence is accelerating this trend. Revelio found that 45% of consulting tasks could be automated. Mian says this puts junior roles—especially those involving data analysis, report writing, and basic modeling—at high risk. “AI can do a lot of what entry-level consultants do,” he said. “That could significantly reduce the need for large analyst cohorts.” Performance standards are also rising. Fewer partners are being promoted. McKinsey reportedly added only about 200 new partners in 2024—half the number from 2021. Deloitte UK promoted 60 partners this year, a 25% drop from the prior year. Firms are also redefining what they value in talent. Bain’s Ron Kermisch emphasized the need for emotional intelligence and “technical curiosity”—the ability to naturally integrate AI into problem-solving. “We want people who instinctively ask, ‘How can I use AI here?’” he said. The result is a narrower path to partnership. Mian notes that it’s now harder than ever to reach the top. “The promise of becoming a partner after 12 years of hard work—getting the keys to the country club—no longer holds,” said Tom Rodenhauser of Kennedy Intelligence. “The old model is gone.” The industry is evolving into a flatter structure, with a stronger middle layer and fewer roles at both ends. For young professionals, the dream of climbing the corporate ladder may be more distant than ever.