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M Squared Annual Consultant Survey 2014
1
INTRODUCTION
A topic that always dominates the headlines is the jobs market. The
International Monetary Fund forecasts 2014 U.S. GDP growth at a modest
2.6%, and while the December 2013 and January 2014 jobs report from the
Bureau of Labor Statistics put unemployment at 6.7% and 6.6% respectively,
analysts say that is largely a factor of the lowest labor participation rate in
35 years. According to a recent CNNMoney article, as of January, only 63%
of Americans over the age of 16 participated in the labor market – meaning
they either had a job or looked for one. Many of these statistics discount
the impact of the contingent workforce and the significant growth that has
taken place in this sector. Definitions aside, the Bay Area market trends do
not reflect national unemployment issues. Instead we see that there are
plenty of job opportunities coupled with a notable shortage of qualified
talent.
To capture these trends and worker experiences, M Squared conducts an
annual 30-question survey of the 2000+ consultants active with us during the year. Our goal is to understand
what motivates the independent workforce in their pursuit of an autonomous career, and how they fit into
the overall U.S. job economy. We use this information to test and challenge the way in which we engage
consultants and clients alike in order to create the best possible outcome for the client, the consultant and
for M Squared. Outlined in the following pages are some of the consultants’ perspectives on looking back at
2013 and forward in 2014. A key takeaway from this year’s survey: more than 85% of our consultants are very
satisfied with their career choice and would prefer to remain working as independent consultants. Also, more
than 50% are optimistic about the economy in 2014 and embrace technology in the workplace as a mixed
blessing for work/life balance.
As larger organizations begin to tap into this extensive network of consultants, the quality of work and
expedition of projects will hopefully force a macro discussion about work and the new workforce landscape.
Chris Marshall
Partner
4. 2
SECTION I: CONSULTANT EXPERIENCE
What do you enjoy most about working as a consultant?
If given a choice, would you prefer to:
Remain as an
independent
consultant
Return to full-
time, in-office
work
Clients treat you
with respect
28%
Flexible schedule
45%
11%
Working with
new people/
clients
5%
Income
potential
12%
0
10
20
30
40
50
60
70
80
0
10
20
30
40
50
60
70
80
60%
17%
23%
Interesting/challenging
projects
Become an FTE
of a consulting
firm
5. © 2014 M Squared Consulting. All rights reserved.
M Squared Annual Consultant Survey 2014
3
Regarding your work, what is most important to you?
This list below represents the order of importance of the following characteristics presented
from most important (1) to the least (9).
1. Working on projects where my skills or expertise are valued and fully utilized
2. Challenging assignments
3. Income growth potential
4. Variety of work
5. Job security
6. Effective on-boarding to new client work environments
7. Working with well-known clients
8. Networking with other consultants
9. Being involved in the sales cycle
What are the top reasons you choose to work with companies like
M Squared Consulting?
Matching skills to
appropriate projects
Steady stream of projects
Administrative support
Community with other
consultants
Other
Strong reputation
Mentoring & guidance
0 10 20 30 40 50 60 700 10 20 30 40 50 60 70
4%
21%
6%
12%
30%
31%
47%
46%
Access to engagements
with top-notch clients
64%
I don’t have to do business
development
6. 4
SECTION II: CONSULTANT ECONOMY
Consultant Revenue Expectations:
Increase by more than 10%
Increase by less than 10%
Stay the same
Decrease by less than 10%
Decrease by more than 10%
Not applicable
0.000000
8.333333
16.666667
25.000000
33.333333
41.666667
50.000000
0
10
20
30
40
50
0.000000
8.333333
16.666667
25.000000
33.333333
41.666667
50.000000
0
10
20
30
40
50
Consultant’s 2013 revenue versus 2012 revenue
Consultant’s 2014 revenue expectations
29%
10%
29%
7%
19%
5%
49%
16%
29%
2% 4%
7. © 2014 M Squared Consulting. All rights reserved.
M Squared Annual Consultant Survey 2014
5
As an independent consultant, is your income higher or lower versus being a
full-time employee?
APPENDIX: SURVEY DETAILS
The nationwide online poll of over 2,000 active M Squared consultants took place
between December 9 and 24, 2013 with a total response of 331 consultants. Nearly
half (48 percent) of our respondents have more than 10 years’ experience, with
only 8 percent listing experience less than 1 year. The three top industries our
consultants participate in are: technology, financial services and healthcare. Not
all survey questions and responses were provided in this top-line survey recap.
Higher
40%
About the same
31%
Lower
29%
