Business, Management & Consultancy
"Science graduates, especially with postgraduate qualifications, gain the fundamental skills required to succeed in the consulting industry." NEVILLE BAGOT, MANAGING DIRECTOR OF THIRD HORIZON CONSULTING PARTNERS
For new graduates entering today’s work force, management is one the largest, most varied, and most interesting areas of work available. Reduced to its essence, management is the process of managing people and resources in businesses. In practice, business careers in management are immensely varied, and can range from working one-on-one with individuals (e.g. as a human resources manager) to emphasising risk-taking and creative decision-making (e.g. starting and owning a business).
With a detailed understanding how specific management roles differ, you can pick the management job that best suits your skills and personality. Do you love risk? Then entrepreneurship is the job for you. Are you a visionary who wants to be a boss today and the boss’s boss tomorrow? Being a general manager may fit your personality. Are you driven by ideas and a strong desire to have a positive impact on clients? You might be perfect for management consultancy.
In fact, the popular field of management consultancy is a rewarding career destination for science graduates. Management consultancies, according to the Managing Director of Third Horizon Consulting Partners, Neville Bagot, "provide expert resources to organisations to deal with specific problems that they either don’t have the skills to deal with themselves, or simply don’t have enough hands for."
Since consulting is a growing field with an even brighter future predicted - this year 35,000 consultants will sell $8 billion of advice in Australia alone, a jump of 5 per cent in revenue - job prospects for graduates are even better.
Mr Bagot says that anybody who enjoys being challenged, is resourceful and has a passion for problem solving will find management consultancy a rewarding career. Science graduates, he says, are definitely part of that pool and are an important component of the workforce at Third Horizon, named in the 2010 BRW Fast 100 List with offices opening in London and Hong Kong.
"Science graduates, especially with postgraduate qualifications, gain the fundamental skills required to succeed in the consulting industry, including analytical and logical reasoning, and complex data analysis," he says.
"We’ve currently got a consultant with a PhD in mathematical biology helping create the new Transport for NSW department, and another consultant who went from studying the genetics and behaviour of honey bees to recently helping a large consumer goods company prepare to purchase another company."
Working in consultancy can even be your launch pad into an entirely new industry. Mr Bagot says consulting allows individuals to work on problems across many industries, building up a really strong skills base and networks. “With this strong grounding, people in management consulting can go on to choose what industry is best for their future growth and personal interests,” he says.
- The Australian management consultancy industry:
Employs 35,000 people
Revenue: $8 billion per year
- The worldwide consulting services industry generates about $300 billion in revenue annually
- Starting Management Consultant salary: $125,000
- Institute of Management Consultants
- International Council of Management Consulting Institutes
- Australian Institute of Management
- Australian Institute of Company Directors
Resources for starting and growing your business: www.business.gov.au
Consider enrolling in one of the following courses and majors to prepare yourself for a career in Business, Management & Consulting
Also see the Faculty of Arts and Social Sciences and the University of Sydney Business School.