About Technology Consulting Field:
Technology consulting industry has been expanding very fast in last few years. Though economic slowdown affects this industry during 2000-2001, it started to show some signs of improvement again in 2004. An affirmative economic condition pushed various firms to invest in IT developments in order to increase profits and expand their business.
In 2006-07, tech consulting companies were to be more successful as most clients were having big budget for IT. Also some regulatory reforms like Basel II came up with big prospects in the field of banking as well as financial services sectors. It provided good opportunities in technology consulting careers.
Most of the consulting firms were going steadily in terms of their works; however, in 2007, subprime mortgage crisis affected the industry one more time which put it in insecure position. Because of slow rate of economic growth and worries about the break down, companies have become more conscious about their expenditures and they are saving their money by stopping some nonessentials functions like upgradation of data systems.
Analysts predict that there is minor decline in the demand for services in IT in year 2007-08. However, situation is encouraging in the long term. With globalization, rising deregulation in the industry along with increasing post-merger integration market worldwide are providing boost for the technology consulting professionals. It is expected that technology consulting industry will grew at 5.2 percent by 2010.
Technology consulting projects related to business operations like infrastructure or regulatory needs will be remained in high demand. Along with this, security consulting, web services, and custom application development are going to be the key areas in the technology consulting field.
Technology consulting companies has been becoming more and more innovative in terms of their recruiting procedures. In recent times, various recruiting companies come up with a concept of virtual recruiting. In this, they conduct information sessions and interviews online. PA Consulting Group has implemented this method recruiting successfully in 2007 and there are going to use it on large extent in the future. Many technology consulting firms are going to use this method of recruiting as it gives access to numerous candidates and also it is comparatively cheap method of hiring new employees around the world.
Though todays market is job seekers market, technology consulting firms are very selective about picking the candidates with desired skills set. In IT consulting firms, most employers are seeking the candidates having experience in the field of database management, web development, applications engineering and wireless networking. Such firms are also taking into account aspirants knowledge about the business as business consulting and IT services are merging into one field. Candidates having good IT skills along with knowledge of business concepts are preferred by the consulting firms.
Please refer following articles regarding Technology Consulting Career: