Professional Services history continued... The 1980s and 1990s brought change to the industry with the introduction of information technology (IT) consulting and corporate strategy. By 2001 the industry stagnated before swiftly recovering in late 2003, with a focus towards a clearer segmentation of management consulting firms.

In recent years, these firms began actively recruiting graduates from Ivy League universities, Rhodes Scholars, and students from top MBA programs. Currently, traditional management consulting firms have had to face increasing challenges from disruptive online marketplaces that are aiming to cater to the increasing number of freelance management consulting professionals.

More tomorrow…