Core Points - The U.S. Treasury Department has canceled all contracts with Booz Allen Hamilton due to failures in protecting sensitive taxpayer data and a past breach that exposed confidential tax information [1][2][3] Group 1: Contract Cancellation - The Treasury Department canceled 31 contracts with Booz Allen, amounting to $4.8 million in annual spending and $21 million in total obligations [2] - This decision is part of a broader initiative by the Trump administration to enhance oversight of government contractors and restore public confidence in federal institutions [2][3] Group 2: Data Breach Incident - The cancellation is linked to a significant IRS data breach involving a former Booz Allen employee, Charles Littlejohn, who leaked confidential tax returns of approximately 406,000 taxpayers [4] - Littlejohn pleaded guilty to felony charges for unauthorized disclosure of confidential tax information and received a five-year prison sentence [4] Group 3: Impact on Booz Allen Hamilton - Booz Allen's Treasury contracts represent a small portion of its projected fiscal year 2025 revenue of $12 billion, with total order backlogs at $38 billion [5] - Following the announcement, Booz Allen's stock dropped by 8.12%, closing at $93.93, despite having a favorable price trend in the short and medium terms [5]

Core Insights - The era of automatic salary increases in consulting is over, with firms maintaining compensation levels due to increased efficiency and strategic talent investment rather than a decline in demand for consulting services [1][2][29] - Starting salaries for MBAs remain at $192,000, with performance bonuses and signing bonuses unchanged from the previous year, while undergraduate hires earn significantly less [1][8] - The report highlights a trend of stagnant pay across the consulting industry, with firms focusing on productivity gains and efficiency rather than increasing entry-level salaries [2][30] Salary Trends - For MBAs, total compensation at top firms like Bain, BCG, and McKinsey remains flat, with Bain leading at $285,000, followed by BCG at $270,000 and McKinsey at $267,000 [8][11] - Undergraduate hires at Bain earn a total compensation of $140,000, which is $3,000 higher than both BCG and McKinsey, with performance bonuses also reflecting similar trends [10][13] - The Big 4 firms show similar patterns, with PwC Strategy& offering the highest total compensation at $280,000 for MBAs, while undergraduate compensation remains steady across the board [11][13] Benefits and Incentives - The Consulting Salaries Report provides detailed insights into various benefits beyond base pay, including performance incentives, signing bonuses, and additional perks like PTO and tuition reimbursement [4][5] - Bain offers the highest performance bonuses among MBB firms, while McKinsey provides significant tuition reimbursement and housing allowances, indicating varied appeal in compensation packages [9][10] - Smaller boutique firms are noted for offering innovative benefits to attract talent, including unlimited PTO and performance bonuses that can significantly enhance total compensation [14][15][16] Market Dynamics - The consulting industry is experiencing a shift towards structural efficiency, with firms leveraging AI and automation to maintain productivity without increasing headcount [28][29] - Despite a healthy demand for consulting services, firms are cautious about increasing entry-level pay, focusing instead on preserving margins and flexibility [30][31] - U.S. consulting compensation continues to outpace global peers, with international markets experiencing stagnation in salary growth [31] Career Earnings Potential - MBAs can expect to earn significantly more than undergraduates, with potential first-year earnings for MBAs reaching up to $295,000 at OC&C Strategy Consultants, compared to $168,000 for undergraduates at Alvarez & Marsal [22][23] - The report outlines a clear trajectory for career earnings, indicating that MBAs can expect substantial increases in base pay and bonuses as they progress in their careers [24][25] - Factors such as promotion velocity, skill development, and long-term exit opportunities are emphasized as critical for career growth in consulting [32][33]

Core Insights - The report from Oliver Wyman Forum highlights that geoeconomic and technological disruptions are reshaping consumer and workplace sentiment, leading to increased emotional strain and changing behaviors in investment, shopping, work, technology use, and healthcare engagement [1] Financial Independence - Financial independence has become a significant goal and source of anxiety, with the percentage of respondents identifying it as an unmet need rising to 41% from 32% in 2022, and the pressure to earn money for success nearly doubling (+80%) in the same period [2] - Interest in the FIRE (Financial Independence, Retire Early) movement has increased from 24% to 37%, and financial literacy is now the top skill individuals wish they had learned earlier [2] Wellness Trends - The proportion of individuals practicing at least four wellness activities has increased from 22% to 30% since 2021, while the inactive lifestyle group has decreased from 15% to 4%, despite a 7-point drop in self-reported mental health sentiment [3] AI in Healthcare - Over half of respondents (55%) are now comfortable using AI for everyday health inquiries, with 47% using it for specific conditions and 37% for urgent health needs [4] Workplace Expectations - Fulfillment has emerged as a key workplace expectation, ranking as the second most important job quality, while dissatisfaction with leadership has risen, with 51% of respondents viewing current leadership models as outdated and complaints about leadership increasing nearly 60% since 2023 [5] AI Integration in Work - Two-thirds of employees (67%) now interact with AI in conversational ways, and 28% would prefer an AI manager over a human one, although this integration raises concerns about role clarity and performance standards [6] Consumer Behavior - Consumer expectations are rising, leading to fragile brand loyalty; 64% of consumers would abandon a brand after a single poor experience, increasing to 69% among high-income shoppers [7] Research Overview - The report analyzes five-year changes in attitudes, values, and trust among consumers and professionals globally, focusing on how economic uncertainty, leadership behavior, mental wellness, and AI are reshaping decision-making [8]

Core Insights - McKinsey has significantly increased its AI agents from 3,000 to approximately 20,000 in 18 months, reflecting a growth of over 500% [1] - The company is integrating AI into its hiring process, requiring candidates to demonstrate proficiency with its internal AI tool, Lilli, during interviews [2][3] - McKinsey is shifting its focus to candidates with liberal arts backgrounds, seeking creativity and problem-solving skills that complement AI capabilities [4] Hiring Process Changes - Candidates are now expected to use the AI tool Lilli in a test as part of the final interview round, indicating a shift towards evaluating AI readiness [2][6] - The company encourages the use of AI in the application process for refining résumés and practicing interview questions, while cautioning against misuse [5] - The AI interview is an additional step in the application process, alongside traditional case and personal experience interviews [6] Industry Trends - The move towards AI integration in hiring reflects a broader trend among consulting firms to seek candidates who are AI-ready from day one [3] - Other industry leaders, such as the CEO of Cognizant Technology Solutions, are also prioritizing liberal arts graduates for their creative potential in conjunction with AI [4]

Core Insights - McKinsey & Company is integrating AI into its interview process for junior candidates, indicating a significant shift in consulting workflows due to AI adoption [1][2] - The pilot program involves candidates using McKinsey's AI tool, Lilli, during case interviews, which reflects the evolving role of AI in supporting junior consultants' tasks [3] Group 1: AI Integration in Consulting - The pilot program requires graduate candidates to utilize an AI assistant during interviews, showcasing the deepening role of AI in consulting [1][2] - Interviewers assess candidates on their ability to interact with the AI tool, evaluate its outputs, and apply findings to client scenarios, mirroring the actual work of junior consultants [3] Group 2: Impact on Career Progression - Consulting firms operate under an "up-or-out" model, where employees must advance within a specific timeframe or leave, which is now influenced by AI capabilities [4][5] - As AI takes over more analytical tasks traditionally performed by junior consultants, performance expectations may shift, potentially compressing promotion timelines and increasing pressure on early-career consultants [6] Group 3: Future of Consulting Workforce - Consultants who cannot adapt to AI-assisted workflows may exit the firm earlier than in the past, leading to a narrower base of the consulting pyramid as firms adjust hiring and evaluation standards [7]

Core Viewpoint - Franklin Covey Co. will hold a conference call to discuss its first quarter 2026 financial results on January 7, 2026, at 5:00 p.m. ET [1] Financial Results Announcement - The financial results are expected to be released after the market closes on January 7, 2026 [1] - Interested parties can access a live webcast of the conference call [1]

Core Insights - The consulting industry is facing significant challenges, with major firms experiencing profit stagnation and job cuts due to a slowdown in the global economy and a retreat from ESG initiatives [2][3][6] Group 1: Industry Performance - Accenture's share price has dropped over 22% since the beginning of the year, while the "Big Four" consultancies have reported stagnant profits for the first time since before the COVID-19 pandemic [2] - McKinsey is also experiencing a profit slowdown, marking a significant change after years of growth [2] Group 2: Demand and Economic Factors - A global economic slowdown and a decline in demand for cloud computing services, which previously fueled growth, are contributing to the industry's struggles [3][4] Group 3: Job Cuts and Restructuring - In response to these challenges, consulting firms are implementing job cuts, with McKinsey planning to reduce its workforce from 45,000 to 40,000 and cut an additional 4,000 jobs over the next two years [6] - The Big Four have similarly reduced their graduate schemes and laid off thousands of employees [6] Group 4: AI Transformation - Firms are attempting to reframe job losses as part of a transformation into leaner businesses that leverage AI technologies for greater efficiency [7][8] - Proponents of this strategy believe that AI will enhance client relationships and enable firms to undertake more strategic work [8] Group 5: Concerns About AI Implementation - There are concerns that the push for AI could lead to a "doom loop," where clients may be reluctant to pay for services delivered by AI, potentially exacerbating the current sales slump [9] - Experts warn that firms might cut staff before successfully implementing AI technologies, leading to operational challenges [10]

Group 1 - Booz Allen's CFO, Matt Calderone, announced his resignation effective February 1 for another opportunity outside the industry [3] - Kristine Martin Anderson will serve as interim CFO until a permanent replacement is appointed [3] - Calderone has had a long career at Booz Allen, spanning over two decades, with a brief period at Boston Consulting Group from 2007 to 2010 [4] Group 2 - Calderone played a significant role in Booz Allen's financial and strategic transformation, including the development of the "VoLT" growth strategy [6] - He led the corporate development team, overseeing over $1.5 billion in mergers and acquisitions, equity investments, divestitures, and joint ventures [7] - Calderone previously designed and executed Booz Allen's Vision 2020 growth strategy and led a restructuring in 2013 [7] Group 3 - S&P Global appointed Calderone as CFO of its soon-to-be-separated mobility business, effective March 1 [8] - He will report to Bill Eager, president of S&P Global Mobility, as the company prepares for a pivotal transition [8]

But around 2021, McKinsey had revenue at the $15 billion mark. Here we are in 20 2425. By the time this year ends, we're going to be 16 billion, just a little bit lower.So they've operated in this narrow band of $15 billion to $16 billion in annual revenue, which is great. Any other management consulting firm would absolutely love to post numbers like that. For McKinsey, it is a sense that their revenue has flatlined a little bit.And you did mention there 100 year celebrations, right. Which 2026. That is wh ...

FY'26 Q2 Earnings Call Presentation DECEMBER 9, 2025 | © 2025 Korn Ferry Safe Harbor Statement FORWARD-LOOKING STATEMENTS Statements in this presentation that relate to goals, strategies, future plans and expectations are based on Korn Ferry's current expectations. You are cautioned not to place undue reliance on such statements. Actual results in future periods may differ materially from those currently expected because of a number of risks and uncertainties. For a detailed description of many of those ris ...