MCA Industry Report 2023

Each, year the Management Consultancies Association (MCA) collects data from its member firms on the consulting sector in the UK.

Savanta are proud to have once again supported the MCA with its yearly Industry Report to collect and analyse key member firm data to produce a comprehensive assessment of the performance of the consulting sector in the UK.

The research confirms that the UK’s consulting sector remains a preferred choice for global clients seeking expert advice, with total exported services amounting to over £5.6 billion.

Key findings from the report include:

• The consulting sector saw a significant 23% growth rate in 2022 – a further 13% increase is anticipated in 2023. This growth is driven by clients seeking the expertise of management consultants in digital technology, AI, and business transformation.
• To meet the growing client demand, firms have increased their headcount by 16%.
• The number of MCA member firms collecting diversity and inclusion data has improved.
• There have been advancements in the representation of female partners, which now stands at 28%, as well as individuals identifying as coming from a non-white background (17%).
• Over half of MCA member firms have adopted the Chartered Management Consultant Accreditation (ChMC), with 4,000+ consultants on the path to become Chartered Management Consultants, and more than 750 consultants having been awarded the accreditation.

Tamzen Isacsson, Chief Executive of the MCA, comments:

“Over the next few years, we expect our industry to experience double digit growth assisting clients with some of their greatest challenges during a period of significant global disruption.

“Part of [this] growth is because our profession is widening the services we offer to clients, increasingly in the digital space with more demands placed on us by firms from tackling cybersecurity threats to providing critical support on adopting artificial intelligence. Our responsibility on AI will be helping our clients with the appropriate use of this technology managing data confidentiality and upholding the highest ethical standards and integrity so that we can help society deploy this emerging and powerful technology.”

Savanta’s Oliver Worsfold, Director, adds:

“Yet again, it’s been a pleasure to support the MCA with this key piece of research. We are able to robustly track growth year-on-year, both in financial terms but the diversity of the sector’s workforce. In good times and bad, the sector is fundamental to both the economy and wider society, providing vital expertise and capacity to the public and private sectors.”

Despite the sector’s notable growth, as well as the strides that have been made in the representation of diverse groups, there is still work to be done from a DE&I perspective.

The MCA’s 2023 Annual Industry Report contains the most comprehensive and authoritative data and analysis on the consulting industry.

You can download a copy of the report here.