The month of March is marked as the annual observance of International Women’s Month (IWM), and women everywhere, in all walks of life and industries, are being celebrated and appreciated. One such industry is that of Management Consulting (MC), which over the last few years in both theory and practice has to some extent employed this year’s IWM theme of #EmbraceEquity.

Management Consulting dates back as far as the 19th century. However, it was during the period of the 1980s and 1990s that the industry experienced significant growth, attracting many people and organisations. Often referred to as business consulting, MC is defined as an advisory and/or implementation services to the (senior) management of organisations with the aim of improving the effectiveness of their

business strategy, organisational performance and operational processes.

Sprung out of the need to help businesses improve their performance, this 200 billion industry, generally follows the economic development which started in the 19th century, and it has been shaped by it in profound ways.

Broad shoulders, facial hair and a deep base were the norm for management consultancy figures back in the 19th century. Although still a field mostly populated by males, the management consulting industry in recent times has seen an increase in the number of females entering the field. In a MC 2023 demographic report published in the United States, it was found that 58% were men and 42% were women.

While recruitment and retention of women was a significant problem within the industry over a decade ago, today studies show that the imbalance of gender is linked to a lack of females in top positions.

However, firms such as McKinsey who was once considered an “old boys club” have realized the inequity of the consultant business industry and have separated from the notion with the evidence of its first chief technology and platform officer (CTPO) Jacky Wright. McKinsey along with our very own MSBM Consulting, have shattered the glass ceiling with their appointment of a female leader, Diane Edwards. On top of this, not only is the MSBM Consulting managed by a female but many of its counterparts are females who are on a mission to making MSBM the number one consulting firm in the region and worldwide. It’s time for management consulting firms to eliminate the archaic mindset and environment that only offer men promotions because only their leadership is deemed effective. Now is the time for women to be empowered in the organization and the playing field leveled for both male and female.

As we celebrate women in Management Consultancy, let us take a look at a few notable and top female figures within the industry.

Amanda Adler (Bain & Company)

Bain and Company is one of the world’s largest management consultancy firms that provides services to private, public and non-profit organisations around the globe. Adler who began her career in 2006 as an associate consultant within the firm, earned her position as partner 14 years later. Now serving for almost two decades at the firm, Amanda developed her expertise in a number of healthcare sectors where she excels in driving business strategy, operating model, customer experience and complexity reduction.

Teresa Espirito (Boston Consulting Group)

Teresa Espirito started at the Boston Consulting Group (BCG) in 2004 as a project leader, then was promoted to Senior Director and is currently serving as the Managing Director and Partner, Global Chief of Staff for the Group. In her capacity, Espirito guides the firm in assisting organisations to grow and drive positive societal impacts. Credited for the growth of the organisation, Teresa also works with clients on the conceptualisation and implementation of revenue growth strategies and the establishment of global sourcing units for prominent businesses in Lisbon.