Too many junior people promoted quickly because they know someone or are close to a partner
Lack of knowledge on proper consulting work or what proper consultancy is all about
Too much PMO related work
Some long-term assignments feel like resource augmentation as oppose to consultancy or advisory
Lack of big client list
The picture sold is seldom what it actually is after you join
Good projects managed by people who have no clue about managing resources and projects within a consulting aspect which in turn they become crappy projects