What McKinsey’s Silence Signals for Strategy Consulting
For years, McKinsey & Company (McKinsey) has stood out not only for its influence but for its rare willingness to publish hard numbers—headcount, revenue, and even promotion data—via its sustainability reports.
In an industry known for opacity, this offered a small but meaningful window into the firm’s internal mechanics.
But this year, that window closed.
No revenue figures. No headcount data. No promotion numbers.
Just silence.
And in a market watching closely, that silence speaks volumes.
A Shift in Tone – And Timing
The decision to withhold data doesn’t come in a vacuum.
Over the past 18 months, strategy consulting has faced a tighter operating environment:
→ Global revenue growth has slowed to single digits
→ McKinsey made layoffs for the first time in decades
→ Senior Partner promotions in DACH dropped from up to 10 per year to just one in 2024 – before recovering to seven in 2025
It’s a significant shift for the world’s most recognisable strategy brand.
Tanja Kewes of Handelsblatt posed the big question: Is McKinsey in crisis?
Not Collapse – A Controlled Reset
Our take, based on conversations across the UK and DACH, is more nuanced.
This isn’t a crisis – it’s a strategic recalibration:
→ The firm scaled aggressively post-COVID. Now, it’s streamlining.
→ Expect changes to margin expectations, staffing ratios, and partner economics.
→ Internal restructuring is happening – but quietly.
This is a leadership rethink, not a retrenchment.
Opacity Breeds Speculation
The strategy consulting market is built on trust and signal-reading.
When a firm like McKinsey stops publishing numbers, people notice.
Whether the move was designed to limit scrutiny or simply reflect shifting priorities, the result is the same: speculation.
→ Clients ask what’s happening internally.
→ Candidates wonder what it means for progression and opportunity.
→ Competitors smell opportunity – and risk.
Germany Quietly Outperforms
Interestingly, the silence hasn’t been total.
In Germany, McKinsey has had a solid 2024:
→ Seven new Senior Partners promoted – a sharp rebound.
→ Local revenue described as “surprisingly good”.
→ Partner feedback suggests strong client demand and a stabilising delivery model.
Germany remains both a growth engine and one of the fiercest talent battlegrounds in the European consulting market.
Final Takeaway
McKinsey is not in freefall.
But its silence is strategic—and intentional or not, it’s a signal.
In a sector where perception shapes reality, going quiet invites scrutiny.
When the market leader stops talking, everyone starts listening. 🦕
This post comments on: Handelsblatt ‘Is McKinsey in crisis?‘ by Tanja Kewes → 17-June 2025 🔗 Read original article
Ben Appleton is the founder of Strat-Bridge, a specialist executive search partner to the strategy consulting industry. He works with global consulting firms and senior leaders across the UK, Germany, Switzerland, and beyond — helping them build capability at the Partner and Director level.
