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The German consulting industry achieved a record year in 2024: for the first time, the combined revenues of management, IT, and HR consulting firms surpassed the €50 billion mark. With a 5.9 percent increase compared to the previous year, the market reached a volume of €50.1 billion—a strong signal for the industry. However, the question remains whether this momentum can be sustained in the coming years. Growth has noticeably slowed: in 2022, revenue rose by 16.0 percent, followed by 7.3 percent in 2023. In her article for manager magazin, Eva Buchhorn explores this issue. Economic uncertainties and high cost pressures in core industries could further dampen the demand for consulting services. At the same time, disruptive technologies such as generative AI are poised to fundamentally transform the way consulting firms work and operate their business models. This leaves the industry with one key challenge: maintaining the flexibility to adapt to new demands.

In a small, exclusive circle, we met in Berlin with the founders and partners of the group of companies that bear our Hidden Champions seal. The discussion focused on how the seal holders – collectively and individually – can better position themselves against global competitors such as McKinsey, Bain and BCG. We were delighted to welcome two prominent guests to this event: Pierre Deraëd, former Vice President at Bain & Company, who for more than a decade was responsible for Bain’s brand strategy in German-speaking countries and ultimately in EMEA, and Steffen Klusmann, who as Editor-in-Chief of SPIEGEL, manager magazin, Capital and Financial Times Deutschland over the past two decades has shaped business reporting like no other. As well as giving exclusive insights into their work, they also shared practical tips and tricks on how they believe hidden champions can position themselves more strategically.

At the 9th German SME Summit in the Weimar Congress Hall, we celebrated the best consultants for small and medium-sized enterprises together with former German President Christian Wulff and over 1,000 guests. As a special highlight, the companies EY-Parthenon, b-k-p Consulting and MSP Management Support Partners were named Consultants of the Year. The evening was hosted by TV presenter Linda Zervakis in her tried and tested charming manner.

McKinsey, BCG and Bain – or would you prefer a hidden champion? In the German-speaking world, there are a number of boutique consultancies that offer an attractive alternative to the industry’s big players – not only for their clients, but also for young professionals. For the latter, however, the industry is anything but transparent. To shed some light on the market, the WGMB has been hosting the Hidden Champions Award for over 20 years – the oldest and probably most prestigious award for consultants in Germany, Austria and Switzerland. Until now, the award has mainly helped consulting clients to select the best experts for their challenges. As of this week, young professionals can visit the Hidden Champions career portal to get a detailed first-hand insight into the special features of the corporate culture, the various entry options from student to experienced hire, the specialisation of the award winners and many other aspects around the topics of application and career.

Invited by manager magazin and WGMB, the most important players in the industry met in Berlin’s Spreespeicher. In presentations, discussions and personal exchanges, more than 100 guests discussed what is driving the industry. In his keynote speech, Professor Norbert Winkeljohann, former Head of Germany and Europe at PwC and now member of the Supervisory Board of Bayer AG and Deutsche Bank, provided fascinating insights into the interaction between supervisory boards and auditors in times of increased regulation and activist shareholders. On the podium, he discussed with Andrea Bruckner (CEO of BDO) and Volker Krug (Head of Deloitte Germany) how the use of artificial intelligence will change auditing. The discussion was chaired by Dietmar Palan from manager magazin, and the evening was hosted by mm’s deputy editor-in-chief Michael Freitag.

On January 11, it was that time again: at the traditional Champions Dinner, the founders and managing directors of the consulting companies that have been awarded the Hidden Champions Prize celebrated their success at the China Club Berlin. In a relaxed atmosphere, the 90 invited guests once again had the opportunity to exchange ideas in a protected space – the “living room of the consulting industry” -, to hold confidential discussions and develop good ideas into even better ones – together. To mark the 20th anniversary of Germany’s longest-standing consultancy award, two former recipients, Veit Schwinkendorf from Oliver Wyman and Andreas Rüter from AlixPartners, also attended the event. Together with Darya van de Sandt-Nassehi from TMG Consultants and Christian Horn from Horn & Company, they took an exciting look back, into the present and into the future of the consulting industry on the podium, eloquently moderated by Capital editor-in-chief Timo Pache. To round off the evening, all guests were able to take a virtual trip back to Berlin in the 1920s and walk along the Linden boulevard – just as it used to be.

For the fourteenth time, we awarded the best consultants for small and medium-sized enterprises on the occasion of the 8th German SME Summit in the Congress Hall in Augsburg together with former German President Christian Wulff and more than 1,200 guests. As a special highlight, the companies etveture, division one and Conor Troy Consulting were named consultants of the year. The evening was hosted by Tagesschau anchor Julia-Niharika Sen.

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McKinsey seems to be slipping from one scandal to the next – at least that’s the impression given by investigative journalists Walt Bogdanich and Michael Forsythe in a new book. The consultants are said to have undermined public health programs, placed themselves in the service of the Saudi state, and made dubious consulting assignments in South Africa under the former Zuma government – an involvement that turned the state system into a self-service store for corrupt businessmen. And yet, McKinsey’s popularity among political and business leaders continues unabated. Why is that? The Neue Zürcher Zeitung addresses this question in a current feature based on a study by WGMB.

In times of what AlixPartners’ Andreas Rüter calls the “total crisis”, restructuring distressed companies is becoming a hot topic for McKinsey and its peers. The consultants are stepping up their efforts to reduce costs, optimize cash flows and cut staff. Roland Berger could be the biggest winner, according to a new study by WGMB presented by Handelsblatt in a feature story.

For the thirteenth time, we awarded the best consultants for small and medium-sized enterprises on the occasion of the 7th German SME Summit in the Jahrhunderthalle in Frankfurt together with former Federal President Christian Wulff and more than 1,000 guests. As a special highlight, Arthur D. Little, M&L and derks brand management consultants were named Consultants of the Year. The evening was once again hosted by TV presenter Linda Zervakis in her tried and tested charming manner.

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