Boston Consulting Group (BCG), one of the world’s leading management consulting firms, announced today global sales of $11.7 billion for year-end 2022, with underlying revenue growth of 11% at constant exchange rates. This continues BCG’s sustained growth trajectory. Over the past decade BCG has more than tripled in revenues, mostly through organic growth. BCG’s global workforce grew to 30,000 in 2022, up from 25,000 in 2021.
“As for 2023, macroeconomic uncertainty dominates most of the conversations I’ve been having with CEOs,” said Christoph Schweizer, BCG’s CEO since October 2021. “Cost management will continue to be critical over the next few years. But so will capability building, scenario planning, scaling up digital and artificial intelligence, and addressing climate and sustainability. We are helping companies around the world to act and make decisions with imperfect information.”
2023 also marks BCG’s 60th anniversary. The firm is celebrating with staff, alumni, and clients 60 years of impact by “unlocking the potential of those who advance the world.”
At the core of BCG’s purpose is its ambition to advance societal and planetary impact with clients and partners. “So far this decade, BCG has invested over $1 billion in more than 1,500 social impact cases,” continued Schweizer. “In 2022, this included initiatives to advance education reform in India, mitigate climate risk in Nigeria, support Ukrainian refugees seeking employment, and helping to close the health care equity gap in Morocco.”
Business Updates & Highlights
Diversity, Equity, and Inclusion at the heart of BCG’s strategic agenda
o Today, 46% of BCG staff are women. BCG’s Executive Committee is comprised of 33% women and includes members from more than ten countries. Women also lead BCG in three of the world’s largest economies (North America, China, and the United Kingdom).
o 51% of BCG’s new hires in the US are from ethnic minority backgrounds, and BCG has launched ethnic diversity networks in Europe, Australia, and Africa.
o BCG’s Pride Network grew to more than 1,100 members in around 45 countries by the end of 2022.
o In 2022, BCG launched a Global AccessAbility community to serve people with lived experience of disability.
· BCG at the forefront of responsible AI with BCG X
o Late in 2022, BCG launched BCG X, a tech build and design unit that brings together nearly 3,000 technologists, scientists, programmers, engineers, and human-centered designers who build to address the world’s most important challenges and opportunities.
o BCG is at the forefront of responsible AI and was the first company in its industry to launch an AI Code of Conduct.
o Last month, BCG established a new Center for Responsible Generative AI to support BCG’s clients in realizing the potential of trusted AI.
· Climate and Sustainability remain at the core of BCG’s identity
o BCG was the exclusive consulting partner to COP 27 in November 2022. This is on top of continued support for cross-industry climate collaboration in partnership with the First Movers Coalition, Breakthrough Energy, the World Economic Forum, WBCSD, and others.
o In 2022, BCG launched new Centers for Climate & Sustainability in India, Southeast Asia, and Sydney to accelerate innovation, impact, and thought leadership across all sectors.
o In September 2022, BCG acquired Quantis, a pioneering environmental sustainability consultancy guiding many of the world’s largest organizations on their sustainability transformation.
o In December 2022, BCG was recognized for the second year on the prestigious CDP Climate A List, which acknowledges companies that are leading the way on action to cut emissions, mitigate climate risks, and advance the low-carbon economy.
“I’m really proud of the work BCG is delivering to help our clients unlock their potential while navigating through the current unprecedented scale and pace of disruption around the world,” said Schweizer.