By 2050 the Washington, DC region is projected to gain a million new jobs, 25% of which are in the professional and business services sector. DC’s proximity to the federal government and talented workforce makes it a top choice for government contracting, policy, and social science research. DC’s management consulting industry is one of the largest in the United States. In 2022, the Washington metropolitan area had the highest employment (93,000 employees) and location quotient (3.99) for the management consulting and think tanks cluster in the U.S.[1]
“Our job is to unleash the potential of the world, and there’s no better place to do that than in Washington DC.”
– Justin Dean, Managing Director & Senior Partner, BCG
In late 2022, Boston Consulting Group (BCG) moved its regional office from Maryland to Downtown DC. BCG signed a 12-year lease for a new 98,000 SF office space in the Metropolitan Square building, to accommodate its approximately 700 employees. During the Washington DC Economic Partnership’s Annual Meeting, BCG Managing Director & Senior Partner, Justin Dean, summarized the significance of the move by stating, “Our job is to unleash the potential of the world, and there’s no better place to do that than in Washington DC.” The relocation positions BCG to leverage the city’s business networks, opportunities, and ability to attract talent.
Recent Management Consulting & Think Tank Sector Expansions
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BCG is just one of many firms that have expanded their downtown presence in the past few years. In 2021, PwC consolidated several regional offices and opened a new 1,700-employee, 182,000 SF office in Downtown DC. PWC’s expansion in DC signifies its growth in the consulting sector and its dedication to delivering enhanced value to its clients and the community. In 2021, Chemonics International, an international development consulting firm, consolidated its regional offices into a 1,200-employee, 300,000 SF office in The Yards development in the Capitol Riverfront neighborhood.
Management Consulting & Think Tanks Industry Employment
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Source: JobsEQ. Q3 2022 covered employment
The Washington, DC metropolitan area is home to a workforce highly qualified for management consulting including 25,000 graduates of management programs. Of those nearly one third are graduate level degrees. The DC area also has a highly qualified computers and information services sector with nearly 13,000 graduates.
Washington, DC Metro Area: Select Management Consulting & Think Tanks Degrees Awarded (2021)
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Source: JobsEQ (2021). CIP Codes 11, 44, 45, 52. *includes Certificate 2+ but < 4 Yr; **includes Post-Baccalaureate award category; ***includes Post-Masters award category
As a hub for innovation, collaboration, and driving national and international policy, global consulting companies continue to expand their presence in DC. Washington, DC stands as the epitome of an educated city in the U.S., with over 60% of its population holding a Bachelor’s Degree or more advanced degree.[2] The DC area subsequently boasts the highest concentration of employment within the Management Consulting & Think Tanks industry in the entire U.S. With nearly four times the national average, the city serves as a hub for professionals in these fields, fostering innovation, research, and expert guidance.
If you are interested in learning more please connect with our VP of Corporate Attraction, Audrey Polk.
[1] JobsEQ (2022 Q3)
[2] Esri forecasts for 2022
