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Reflecting on Finance & Consultancy Careers for Researchers

Isobel EPowell30 October 2019

Finance and Consultancy Month… let’s reflect:

As Finance and Consultancy month comes to a close, we are reflecting on what has been an insightful and engaging collection of events. Whilst taking the leap out of academia can seem like a daunting and unfamiliar prospect our alumni and professionals have given us plenty of reassuring and motivational messages throughout the month. The first key area of reflection for this month is therefore on transitioning.

Transitioning out of academia and into a corporate role…How do you deal with any attached stigma?

  1. It’s your career path! Everyone takes a different route to find their thing – don’t be afraid to acknowledge that academia may not be for you. Check out our previous blog post on this
  2. There is a world of research beyond academia. So many roles within finance and consultancy are research-focused – Check out our post by economist Keith Lai for ideas
  3. Your interests can be applied across the sector. Branching out and exploring other options can broaden your horizons, make you more employable and expand the practical reach of your research expertise. Consultancy is a great way to do this, offering your expertise to support businesses to grow.

Moving between academic and non-academic arenas, is it possible?

  1. Yes! Many people still contribute to academic papers alongside their roles, if publishing is your passion there are always ways to continue…
  2. Some organisations hire for roles with this in mind, creating and publishing research can be part of your job! Check out a previous blog on this
  3. Balancing the two may not be your thing. Many finance or consulting roles require strong research, writing and publishing skills – just utilised in a more corporate setting

The best and worst parts of a non-academic career, is it really for me?

  1. Stability, consistency and great benefits. The biggest response to this from both our finance and consultancy panels was the increased stability, lack of stress around funding, working more collaborative and less sporadic work schedules.
  2. It all depends on what you want… teamwork, deadlines, short projects and managing client needs are central to careers in finance and consultancy, so, if this isn’t for you, it may not be the right career path. Don’t Panic! There are plenty of industries where other skills are more suited. Key an eye on our blog for more case studies.
  3. Longer more intense working hours and less autonomy. Despite this, many of our contributors mentioned the increased satisfaction from shorter lead times and a better work-life balance.

So, what does this all mean fo you?

After hearing from professionals working across roles as consultants, economists, data scientists and traders the biggest piece of advice about their industry is to decide if it really is for you. Map out your skills, your interests, what drives you, how you like to work and see if that aligns with a career in the Finance or Consultancy worlds.

For example, in consultancy the key skills required are:
Teamwork, problem-solving, creativity, confidence under pressure and adaptability

Often consultants are working towards:
Fast-paced project delivery
managing a diverse portfolio of clients
and engaging a variety of industries

Roles are more structured and strong commitment is needed:
Core working hours mean more stability but overtime is frequently required to deliver projects
Consultants may work client-side within a given week, so travel is important
Managing projects within cross-organisational teams mean flexibility is key

These are the key aspects to explore before diving into applications. Is this for me? and what kind of working lifestyle do I want? 

Finding an industry where your skills as research are valued and utilised may seem tricky but you can find roles across all sectors and industry. This is where our themed months come in to play, if you’ve decided finance or consultancy organisations are not for you, join us on another themed month and hear more about careers in UK & Global Health, Data Science & Data Analytics, Communications and Research, Government, Policy and Higher Education…. the list continues! Our speakers have come from backgrounds in physics, biology, maths, humanities and more ending up in completely different industry utilising those same core skills they learnt in research.

Come along to our events and find out how your skills are so transferable across the sectors and explore how you could branch out to support an organisation to develop!

Check out our full programme of researcher events on our website today!

 

The Boston Consulting Group (BCG): PhD Medics & Post Doc Careers Event

Vivienne CWatson12 May 2015

The Boston Consulting Group (BCG): PhD, Medics & Post Doc. Careers Event on Thursday 14 May

Thinking about what to do next? Looking for a new opportunity that will challenge and develop you?

If you’re thinking about the options available to you for the next stage of your career, come to our PhD, Medics and Post Doc careers event to find out what management consulting could offer. Our team at The Boston Consulting Group (BCG) includes many who have made the transition from academia to consulting, with backgrounds as diverse as medicine, tendon engineering, game theory, 18th Century literature and the history of art.

Sign up to our Connection Event designed especially for PhDs, medics and post-docs where you will be able to find out about BCG, our global opportunities and the application process. Also meet our very own PhDs and medics over drinks/nibbles.

– Date: Thursday 14 May 2015

– Location: Holborn Bars, 138-142 Holborn, London, EC1N 2NQ

– Time: 7.00pm-9.00pm

To attend the Careers Event, please register via the following link – https://talent.bcg.com/Events?folderId=10003800

To find out more about BCG careers for those with advanced degrees, please visit http://adc.bcg.com/. Applications for full-time positions will open in September 2015.

PhD Life Science Careers – Why my time at UCL drew me to IMS Consulting Group

ManpreetDhesi1 February 2012

In the lead up to UCL’s Careers in Clinical Research, Biotechnology and Pharmaceuticals Forum which will be held on 28th February 2012, here is the first in a series of guest blogs by PhD holders who work at IMS Consulting Group.

I spent just under five fun, happy and, I’d like to think, productive years at UCL working towards my PhD in Neuroscience.  The first of year my PhD was actually a rotation year where I undertook three 3-month projects in labs at UCL, Kings and Imperial, following which I was able to choose where I wanted to spend the next 3-4 years for my main PhD project.  My choice was UCL, for a number of reasons:

Firstly, the campus has a great location in the heart of the city and most importantly it accommodates the majority of UCL’s degree courses on one large and single site. This gives UCL that rare feeling of a real campus university within London and creates a sense of community that is perhaps more associated with universities outside of the capital. Another attraction of UCL is its diversity, both culturally and academically. One day you might find yourself sitting in the Print Room Café alongside a Pharmacology lecturer from St Albans and the next day you’ll be sharing a table with a Law PhD from Greece. During my time at UCL, which was spent mostly in various laboratories and science buildings around the campus, I connected with a number of intellectually curious and academically brilliant people from all over the world with the same ambition to strive for excellence and challenge themselves; this is what makes UCL one of the world’s leading universities, particularly in life sciences.

The things I appreciated the most about UCL are things that equally drew me to IMS Consulting Group: people are proud to work at IMSCG and there is a strong emphasis on teamwork and community. IMSCG has a non-hierarchical structure which means that everyone’s opinion counts. Furthermore, people of all nationalities join the firm from both science and non-science backgrounds but one thing that is certain is that, like at UCL, all are welcome and all are appreciated. This opportunity to network with and work alongside so many great thinkers is something I had wanted to maintain upon leaving academia and thankfully this has been the case at IMSCG.  Our people continually challenge each other to better ourselves, though never to a level that creates competitiveness amongst peers. Because of our intellectual approach to project work, IMSCG continues to be at the forefront of the healthcare industry and is able to make a real impact on issues that our clients face and that will shape the industry for years to come.

Richard D’Mello, IMS Consulting Group

Find out more about life science careers for PhDs and IMS Consulting Group at the Careers in Clinical Research, Biotechnology and Pharmaceuticals Forum.
To register for this event see the  PhD Employer Forum – Careers in Clinical Research, Biotechnology and Pharmaceuticals page on the Graduate School website.