October 3, 2024

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Forbes Best Management Consulting Firms In The World 2024 List

Forbes Best Management Consulting Firms In The World 2024 List

For businesses around the world, “2024 has been marked by some unpredictability, a lot of opportunity, and a lot of challenges,” says Tamzen Isacsson, CEO of the Management Consultancies Association, a trade organization in the UK. “And that’s probably a natural reflection of the times that we live in.” The litany of economic disruptions, according to Isacsson, includes the climate-change crisis, economies still recovering from the pandemic, global conflicts, cyber security threats, increased supply chain demands, and a new wave of AI innovation. And because many companies don’t always employ specialists on staff with the precise expertise needed to address each challenge, “the consulting industry has stepped up to support and provide those services.” The metrics bear this out. Businesses have been turning to management consultants for help increasingly over the last several years, with the global consulting industry’s market size—valued at $343.47 billion in 2022—expected to grow at a 7.56% compounded annual rate to reach $494.57 billion by 2027, according to research platform GlobalData Intelligence Center.

Still, finding the ideal consultant or team to manage a specific need is not an easy task. To aid in that effort, Forbes has ranked the World’s Best Management Consulting Firms 2024. Created in partnership with market research firm Statista, the list is based on three national surveys of consultants (partners and managers at consulting firms) and clients (executives) in the United States, the United Kingdom, and Germany; as well as a global survey of 8,500 consultants and clients in 29 countries across all continents. Survey respondents were asked which consulting firms they would recommend; firms were eligible if they had active offices in at least three of the following regions: Africa, Asia, Australia and Oceania, Europe, the Middle East, North America and South America.

The firms were recommended within 13 industries (such as technology, financial services and healthcare) and 14 functional areas (such as M&A, marketing and sustainability); those with the most recommendations were included in our list and awarded a star rating. Firms in the top 10% (very frequently recommended) received 5 stars, firms between the top 10% and 40% (frequently recommended) received 4 stars, and all others with a sufficient number of recommendations received 3 stars.

In addition to the consulting firms, survey respondents were also able to recommend consulting networks, which aggregate large numbers of independent consultants and facilitate their connection with potential clients. The networks enable consultants to match with projects that suit their skills and interests, while affording clients the ability to match with consultants offering the specific expertise needed. For this list, the method used to rate consulting firms was also used to rate consulting networks.

Ultimately, a total of 223 management consulting firms and nine consulting networks made the list, which is presented below.

As with all Forbes lists, companies pay no fee to participate or be selected. For questions about this list, please email listdesk [at] forbes.com.

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