Hunt Scanlon Media has released its annual rankings of the leading executive search firms, revealing strong growth in the high-end recruitment sector despite economic challenges in 2024. The industry saw billions of dollars in investment, with firms focusing on private equity, technology, healthcare, and financial services reporting the biggest gains.
Industry Highlights
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U.S. Executive Search Market Growth
- The Top 50 U.S. search firms generated $6.041 billion in fee revenue, a 6% increase.
- 59% of firms reported positive growth, with 20 firms achieving double-digit gains.
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Global Expansion & Record-Breaking Revenue
- The Big 5 global recruiting firms produced $6.863 billion in professional fees, setting a new industry record.
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Acquisition & Consolidation Trends
- 58% of search firm founders expressed interest in potential acquisitions or sales.
- Private equity firms and strategic investors continue to fuel M&A activity in the sector.
Market Outlook for 2025
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Executive Search Firms Poised for Double-Digit Growth
- Demand for top-tier leadership talent is tightening, driving higher competition among recruiters.
- The second half of 2025 is expected to see a surge in talent acquisition activity.
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Shift Towards Innovative Human Capital Solutions
- Increased focus on AI-enabled leadership assessments and executive coaching.
- Growth in interim leadership solutions and fractional talent requisitions.
- Expanding demand for culture consulting services.
Industry Expert Insights
Evan Berta, Chief Market Analyst at Hunt Scanlon, noted:
“The recruiting sector found stability and recovery in 2024. Growth rates topped out at six percent, and the stage has been set for a strong run ahead.”
Scott A. Scanlon, Co-Founder of Hunt Scanlon, emphasized the upcoming surge in M&A activity:
“The supply of top-drawer leaders is tightening. That will translate into a big year ahead for recruiters. With an improving environment, search firm founders and their management teams will lean more heavily on strategic growth partners to fund and scale their operations.”
The executive search industry is poised for a strong 2025, driven by talent shortages, increasing M&A activity, and the rise of AI-driven recruitment solutions. With continued investment from private equity firms and strategic acquirers, the industry is set for long-term expansion and innovation.
