Business Management and Consultancy
Are you an enthusiastic troubleshooter who enjoys offering advice and solving problems? Do you pride yourself on your research and analysis skills? If so, then a career in business management and consultancy could be the ideal career choice for you.
The sector provides expert advice to businesses looking to improve efficiency, performance and profits. Consultants are often based on the client?s site and are tasked with analysing the business strategy and structure, looking at how the organisation operates and how it is managed. After detailed observation and analysis that can involve detailed data collection, interviewing employees and reviewing records and reports, management consultants will normally offer recommendations for improving the business and solutions to any problems the business is experiencing.
Business consultants often focus on a particular area of the business such as strategy, marketing, finance or human resources depending on their expertise, but some larger consultancies may take a more holistic approach, analysing each section of the business and suggesting company-wide solutions.
Organisations will sometimes call in business consultants to provide resources and manage and advise on projects such as company restructuring. It?s a varied job that requires confidence and tenacity and can also be very rewarding both professionally and financially.
Large companies recruiting graduates in the sector include
BDO, PricewaterhouseCoopers, Deloitte and Accenture.
Management consultants spend most of their time working in client's office during normal office hours, but it is not uncommon for consultants to work long hours. Depending on the client or the size of the project, consultants may work alone or in a large team and could be based on multiple sites. A career in this sector can be very rewarding but it involves a high level of responsibility and can be stressful.
Graduates can expect a starting salary of between £25,000 and £35,000 rising to more than £50,000 with experience. Senior or managing consultants can earn up to £100,000 while directors or partners can earn more than £125,000. Some consultancies offer performance-related bonuses.
You will need a good degree in any discipline for a career in management consultancy, though subjects related to business and numeracy, such as economics and finance, may be preferred. Though a postgraduate degree is not necessary, a Masters in business administration (MBA) will give you an advantage.
As well as a strong understanding of business and commercial awareness, graduates entering the business management and consultancy sector need to have excellent analysis and problem-solving skills and a flexible and innovative approach as they will be working with a variety of different clients. Good interpersonal and communication skills are important, and the ability to be decisive and work well under pressure are also key attributes.
