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The State of the U.S. Privacy Job Market, 2019: Part Two
Part One of The State of the U.S. Privacy Job Market, 2019 exposed the current state of the market, highlighting the expansive mid-market job growth and extensive use of contract talent resources, then drilled down into the nuances of staffing habits within U.S. corporations and major law firms. Part two of The State of the U.S. Privacy Job Market, 2019 will outline what is happening within service providers, consultancies, and vendors will touch briefly on government agencies and will predict the near-future state of the U.S. privacy job market.
What Is Happening In Vendors/Consulting Firms
The largest consulting firms in the world have been building privacy-focused consulting practices for over half a decade. These practices are often hatched from leaders in security, risk advisory, and e-discovery consulting — sometimes from outside/inside counsel — and now have dozens if not hundreds of disparately skilled privacy consultants ranking from entry level to seasoned partner. The war for privacy talent among these firms has begun and will continue in perpetuity. Consulting firms generally want to hire consultants from other consulting firms; that is traditionally first preference. There are opportunities for in-house corporate-tracked privacy professionals to transition into a major label in the global consulting firm ecosystem, but those without existing relationships and possible streams of revenue (and especially those without the desire or aptitude to eventually drive revenue) will struggle to transition at their desired compensation.
The market for privacy consulting is incredibly polarized. There are generally large consulting firms that do this work, from quasi-legal advisement to fully operationalizing and running privacy by design programs, and there are also a lot of boutiques. The large players in the space are certainly the "Big Four" but also all of their competitors such as BDO Global, FTI Consulting, Booz Allen Hamilton, Aon, Accenture, BRG, Ankura, and many more. The maturity model of each consulting firm varies drastically from brand to brand, which has created opportunities for strong players at established practices to bring their expertise and clientele to midsized logos looking to invest in talent to grow faster. This has also allowed larger companies to begin investing in less experienced talent, grooming from within, and create newer, less expensive consultants to deploy to clients who are also in a heightened state of privacy maturity and now need lower rates for maintenance/impact assessment consulting work.
The cost and utilization necessary for more maintenance-oriented privacy consulting engagements become a key consideration for consulting firms' business models moving beyond GDPR day. What may have felt like corporate panic between mid-2017 to late 2018 appears to have ushered in a corporate acknowledgment and awareness of privacy as a necessary function and brand consideration, both operationally and strategically. Some corporations hire consultants from their consulting firms, bringing the functions in house; this is an age-old practice. Others simply diminish the billable hours needed from their trusted consulting firm partners.
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