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.
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