- Alvarez & Marsal (A&M) is a management consulting firm that's known for its restructuring work.
- A&M alongside boutique consulting firms have been in growth mode since the pandemic.
- Kelly Bridgeman, the director of talent acquisition, shared how you can catch recruiters' attention.
In the midst of an unstable financial market and a rapidly-spreading virus, boutique consultancy Alvarez & Marsal (A&M) hired 265 new employees from January to March — and recruiters are still looking to bring in more.
All of A&M's business units and consulting practice divisions are hiring right now.
Known for its corporate restructuring work, A&M is much smaller than its competitors including Booz Allen Hamilton, Mercer, and McKinsey. But the firm dominates in the bankruptcy financial services sector. It was a leading consultancy during the 2008 financial crisis, advising the Lehman Brothers during its filing for the most expensive bankruptcy in US history.
Other companies A&M has restructured include Target Canada, Warnaco Group, which is the maker of Calvin Klein Jeans and Speedo, and the Tribune Company. At one point, the consultancy was even referred to being "the hottest business on Wall Street" by Fortune Magazine.
The company's summer internship program has grown by more than 20% since 2020, and A&M increased it global headcount by 5% from January to March, a spokesperson told Insider.
Kelly Bridgeman, the 5,308-employee firm's director of talent acquisition, said recruiters are now focused on more experienced hires. A&M declined to share how many employees it plans to hire this year.
Right now, the company is hiring for mid and senior-level associates in healthcare, forensics, and restructuring divisions, who will make anywhere from $65,000 to $90,000 in base salary, Insider previously reported. Managers and directors can earn up to $140,000.
"We've been very invested in opportunistic hiring," she said. "We know that our people are our biggest asset, and we didn't want to miss a chance on hiring someone that'd be a great fit. We've absolutely been interviewing candidates, and just being forward-thinking about people that could impact us positively in the future."
Expect 4 to 6 interviews and a case exercise
The initial online application process is simple and straightforward — it should take you two minutes at most, Bridgeman said. Once you've passed the introductory phone call with a recruiter from HR, you're invited to meet your potential colleagues in a video interview.
Candidates might be asked to complete case studies depending on the position or title they applied for. These exercises are administered toward the end of the hiring process, in which candidates are given prompts and a set amount of time to complete client problems while sharing their virtual screens with interviewers, Bridgeman added.
"All of our hiring and interview processes have been turned virtual , and we're trying to replicate that in-person recruiting experience as much as possible," she said. "You should expect a series of four to six interviews in total."
Tapping into your professional network can make a huge difference
We've entered a competitive job market as unemployment and furlough rates surge. To stand out from the crowd and catch a recruiter's attention, Bridgeman said that candidates should reach out to recruiters or staffers at the firm because a more personalized approach can make a big difference.
For example, you can leverage LinkedIn, Twitter, or other social media platforms to get in touch with important figures at the consultancy. Bridgeman also recommended that college and business school students tap into their school's alumni association or career center for industry connections.
Boutique consulting firms are in growth mode
Client work in motor, manufacturing, aerospace, and travel industries, for example, are heavily impacted by the pandemic. But consulting practices within bankruptcy, turnaround, healthcare, and crisis management is especially critical right now.
Booz Allen Hamilton, a technology and government-focused firm, told Insider that it brought in 1,000 new employees over the last year, and it's hiring for 1,000 more. Turnaround and restructuring group AlixPartners also experienced an uptick in client demand and shared that they're "recruiting like crazy for all levels and disciplines."
"This is the time when our operational turnaround skills really come into play as we're working with companies way ahead of any court process to help them plan for a range of potential outcomes," said Lisa Donahue, managing director and joint global heads of turnaround and restructuring at AlixPartners.
"Regardless of your level, we value intellectual curiosity, strong work ethic, multi-tasking skills, and the ability to work effectively in a team setting."
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