What they do: Advise companies on how to grow the business or battle a problem. Economic upheaval is forcing many firms to rethink strategies, creating a need for advisers on everything from pricing and operations to cost-cutting and sales growth. Information technology consulting is one of the fastest-growing areas, as is helping companies explore international markets.

What's to like: Teamwork, project variety, and the satisfaction that comes from solving tough problems. "I love the challenge of a company saying, We want to grow revenues by 20%. How can we do that?' " says Sukanya Soderland, 32, of Oliver Wyman in Boston.

Michael Sherman, 37, of The Boston Consulting Group in Dallas likes that "you get training in a couple years that would take a decade in a corporate setting." Big consulting firms such as McKinsey & Co. may offer higher salaries, boutique firms tend to be more specialized.

What's not to like: Grueling travel schedules, late hours, and punishing deadlines.

Requirements: Just about anybody can claim the title (nearly a third are self-employed), but an MBA coupled with experience inside firms in your field gives you an edge. Nowadays many laid-off managers are finding that their industry knowledge and access to insiders translates well to consulting.