Continued Growth for Retained Executive Search Industry in 2011, According to AESC.
Annual State of the Executive Search Industry report shows 9% uptick over 2010.
2011 data just released by the Association of Executive Search Consultants (AESC) shows that the retained executive search industry experienced continued momentum during 2011 with a 9% yearly increase bringing total industry revenues to an estimated $10.41 billion. 2011 saw the third highest revenues on record for the industry, not far off from all time industry high of $11 billion reached in 2008.
The global average number of new executive searches started in 2011 rose 5.4% over 2010 figures with North America and Europe contributing the most growth, up 9.7% and 4.7% respectively. Asia Pacific remained flat with only 0.2% growth and Central/South America saw a slight decline of 1%. Industry market share remained relatively flat across the board with the biggest growth seen in the Industrial (1.5%) and Consumer Products (1%) sectors. The financial sector decreased its share of the market by 2.3% and technology decreased by 1.2%.