EMERGING TRENDS IN THE CONSULTING INDUSTRY
Naturally, the ‘Top Consulting Firms of 2026’ doesn’t necessarily reflect the 30,000-foot view of the industry as a whole. Looking at the data points across the firms ranked, Mian came across two epiphanies about the industry.
“One key surprise was how clearly specialization and sector strength emerged as differentiators,” Mian tells P&Q. “Firms with distinct sector focus (e.g., pricing strategy, economic consulting, life sciences) often gained traction relative to broad generalists in certain areas. A second interesting outcome was the visibility of internal corporate strategy functions (e.g., large tech strategy groups), which reflects a shift in where high-impact strategic work is happening. These shifts aren’t dramatic “upsets,” but they signal evolving competitive dynamics.”
These aren’t the only shifts that Mian is witnessing. Among emerging industry trends, he is seeing an increasing blend of strategy and execution. “Firms that can bridge high-level strategic insight with operational and technology execution are gaining market share. This affects work patterns and team composition, with more cross-functional demand and data/technology literacy required.”
What’s more, Mian adds, engagements increasingly involves greater regulatory and sector complexity. “Healthcare, financial services, energy transition, and public sector modernization continue to generate durable advisory demand. These areas create sustained, sometimes recession-resilient work, but also require deeper stakeholder management and specialized expertise.”
ADVICE TO ASPIRING CONSULTANTS
For many MBAs, the MBB firms are the ultimate destination. Drawing on 15 years in the consulting industry, Mian would offer two pieces of advice to students hoping to beat odds and earn a spot at McKinsey, Bain, or BCG. First, he says, candidates need to clarify their ‘why’ and understand their prospective employer’s model.
“Recruiters want to see not just analytical strength, but a clear understanding of the firm’s identity and how you fit that model,” he tells P&Q.
In addition, Mian urges MBAs to hone their abilities in both problem structuring and communication.
“Strong candidates combine structured reasoning with crisp, client-ready synthesis and interpersonal fluency,” he adds.
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