Overview of the business sector in the UK

Find out about the target-driven world of business, consulting and management...

What areas of business can I work in?

This sector, also known as the professional services industry, is all about improving the performance of businesses.

Consultants advise organisations and help them solve problems and enhance their capabilities. Businesses need advice on a wide range of issues including:

• financial management;
• human resources (HR) management;
• information technologies;
• operational management;
• strategy and planning.

The consulting industry in the UK is worth around £8.5billion and employs more than 80,000 people.

Business managers specialise in areas such as human resources (HR) and IT, and support firms both from within the company and as external services suppliers.

There is some overlap with the accountancy, banking and finance sector. Professionals from both sectors will often work together to ensure the best outcome for the client.

For examples of job roles in this sector, see graduate jobs in business and management.

Who are the main graduate employers?

The 'big four' accountancy firms are the largest graduate business employers:

• Deloitte LLP
• Ernst & Young
• KPMG
• PwC

There are also specialised business services organisations that operate in specific sectors. For example, the Spire Consulting Group provides support to the construction industry and the British Institute of Agricultural Consultants provides business services to agricultural, rural and food production clients.

What's it like working in the sector?

Graduates entering the business, consulting and management sector can expect:

• a varied working life, dealing with more than one project at a time;
• a starting salary of between £25,000 - £30,000 for junior consultants, rising to £50,000 with a few years' experience and considerably more for senior consultants;
• working hours to be typically long and focused on getting the project complete;
• a high-pressure environment to meet tough targets.

What are the key issues in the business sector?

As a consequence of the recession, consultancy firms that have historically competed are now working together to better serve their clients.

Firms in this sector are diversifying and specialising; this is known as 'segmentation'. This will lead to more niche business services, consulting and management roles in the future, as new technologies and business issues emerge.

Many graduates will not get a consulting or management role immediately after graduation. To gain entry into this industry, you will need to build up some relevant work experience. To find a work placement or internship in the business sector, search for work experience.