Consulting Q&AWhat is the retention rate in the consulting industry?
Silvia MoserSilvia Moser asked 1 year ago

1 Answers
Mattéo DaviesMattéo Davies answered 12 months ago

The consulting industry is one of the most competitive and lucrative industries in the world. The top consulting firms receive thousands of applications each year, and only a handful of candidates are ultimately offered a position. Once hired, consultants are typically expected to work long hours and travel frequently. As a result, turnover is relatively high in the industry.

According to a recent study, the average retention rate for consultants is just shy of 50%. While this may seem low, it is actually on par with other industries that experience similar levels of stress and demands.

In fact, the consulting industry has a higher retention rate than many other professional industries, including law and medicine. For those who are able to thrive in the fast-paced environment, the consulting industry can be a great career choice.