📊 April Update: Headcount Trends in Global Strategy Consulting Firms

Part 3 of Our Quarterly Management Consulting Headcount Analysis At A-GAME | Executive Search, we’ve been closely tracking the global headcount trends of 60 leading management consulting firms since January 2023—a pivotal moment when some firms began adjusting their workforce after years of rapid expansion.

Daniel Cremer

4/8/20252 min read

Our latest data reveals key insights into the evolving landscape of consulting talent:

Key Takeaways

✅ Combined headcount across these firms is at an all-time high—a testament to the resilience and adaptability of the industry.

✅ 45 out of 60 firms (75%) have grown their headcount since January 2023.

✅ Only 5 firms saw reductions exceeding 10%, while 43 firms continued expanding even in 2025, signaling sustained demand for consulting expertise.

Top Performers: Who’s Growing the Fastest?

Several firms have demonstrated exceptional growth in employee numbers:

  • Efficio leads the pack with a 54% increase in headcount.

  • Alvarez & Marsal (+50%) and d-fine (+46%) follow closely, showcasing strong hiring momentum.

  • Arthur D. Little (+33%) and implement Consulting Group (+29%) round out the top five.

These firms highlight the ongoing demand for specialized consulting services, particularly in operations, restructuring, and digital transformation.

Strugglers: Firms Facing Headcount Declines

While most firms expanded, a few experienced notable reductions:

  • McKinsey & Company (-14%) and Integration Consulting (-14%) saw significant cuts.

  • West Monroe Partners (-15%) and Fortiane Partners (-16%) faced the steepest declines.

  • Monitor Deloitte (-7%) and Alira Health (-8%) also saw contractions, reflecting shifting client priorities.

These declines may stem from post-pandemic recalibration, automation, or strategic realignment—factors reshaping consulting business models.

The Bigger Picture: What’s Driving These Trends?

  • Continued Demand for Niche Expertise – Firms like Efficio and Alvarez & Marsal thrive by focusing on high-growth areas like cost optimization and turnaround consulting.

  • Digital & AI Transformation – Tech-focused consultancies remain resilient as businesses invest in AI, cloud, and cybersecurity.

  • Market Consolidation & Efficiency – Some legacy firms are streamlining operations, leading to selective hiring or reductions.

Your Thoughts?

  • What’s your take on the current consulting market?

  • Are there firms we missed that should be on this list?

  • Do you see these trends continuing in 2025 and beyond?

Let us know—we’d love to hear your perspective!

Methodology Note:

All data is sourced from LinkedIn Premium Insights, tracking global employee counts under the assumption that consulting professionals maintain active LinkedIn profiles. Firms included have 200+ employees.

Stay tuned for our next quarterly update as we continue monitoring the evolving consulting talent landscape!

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