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Generally does well, banks need more help tightening up on the risk front in a recession so consulting services are still in demand, just a different flavor from a high-growth market

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Honestly based on my team and service line financial results I didn’t notice any reduction in demand. Whole Big4 are during huge hiring campaigns so you can draw your own conclusions.

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Thanks. I’m currently interviewing so definitely see the hiring campaigns firsthand. Wasn’t sure if I should be concerned about possible increase supply of consultants due to hiring with lowering demand for work. Glad to hear demand shouldn’t go down.

I think it depends on the nature of the recession. 2008 hit financial institutions very hard, so any consulting spend you’d see there would be more of the nondiscretionary type (risk/regulatory mandates). 2020 hit most other sectors hard while leaving the financial sector relatively unscathed, so they’ve still been throwing out consulting spend like drunken pirates.

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I was in the Army in 2008, so going off what my more experienced colleagues have said.

The type of work changes but not generally the need. Was in the financial industry during 2008 before moving to consulting and the regulators don't stop regulating - cutbacks in external and internal spend were mostly around expansion, sales and marketing.

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