2024-25 Independent Consulting & Advisory in Review Report
We are excited to present the 2024-2025 edition of The Barton Partnership’s Independent Consulting & Advisory in Review Report. This marks the 10th year of our report, and the findings tell a compelling story about the evolving landscape of independent consulting.
Independent Consultants (ICs) continued to be engaged across a broad range of industries with over 680 projects reported, highlighting the essential role ICs play in supporting transformation and providing strategic guidance tailored to industry-specific needs.
Some key narratives:
1. Independent Consulting as a long-term career path
The report highlights the growing recognition of independent consulting as a stable and long-term career choice. With 54% of respondents having worked in this field for five years or more and 53% intending to continue for six years or more, it underscores the enduring appeal of this career path. This longevity is driven by the flexibility and autonomy that independent consulting offers.
2. Motivations and Preferences
Flexibility and autonomy are the primary motivators for professionals becoming independent consultants. The report shows an increase in the percentage of respondents valuing autonomy (60% up 2%) and flexibility (58%, up 4%) compared to the previous year. Interestingly, financial benefits are not the top motivator, with only 41% citing it as their primary reason for becoming an independent consultant. This indicates a shift towards prioritising work-life balance and personal control over financial gains.
3. Stability in Working Practices and Day Rates
Despite broader economic fluctuations, the independent consulting market appears stable. A significant 58% of respondents reported no change in the number of business days worked, and 60% reported no change in their rates. Additionally, 31% of participants have seen an increase in their day rates year-over-year, suggesting that while the market is stable, there are opportunities for growth.
4. Project Sourcing and Business Development
The report highlights the importance of headhunters and recruiters in the independent consulting market. A substantial 69% of independent consultants engaged a headhunter or recruiter to supplement their business development efforts. Additionally, 67% use headhunters to increase their volume of work, indicating that networking and professional connections are crucial for securing projects.
5. Future Demand Drivers
Economic uncertainty, market conditions, increased mergers and acquisitions activity, and the integration of technology and AI are key drivers for future project demand. These factors suggest that independent consultants will continue to play a vital role in helping businesses navigate complex and evolving challenges.
Overall, the report paints a picture of a resilient and dynamic independent consulting market, where professionals are motivated by autonomy and flexibility, and where stability and growth coexist.
If you would like to discuss the findings in more detail, get in touch with our Team.
