The demand for consultants across all areas is booming. Not surprisingly, many graduates are attracted to the high salaries and challenging, project-based work involved in most consultancy jobs.

We tend to think of consultancy as something of a modern-day role, but people have been consulting specialists and discussing their problems with them before making a decision for centuries. Doctors and lawyers of old were consultants, long before the word became fashionable.

More recently, accountants, actuaries and engineers have joined this group, selling their expertise and knowledge to others, and their numbers have been swollen by the HR, technical, economic and IT professionals who now offer their services in the same way.

What consultants do

Building on their experience and knowledge, consultants are able to assess situations and absorb complex information rapidly, while demonstrating sound judgement. This ensures that the customer trusts them and has confidence in their advice – crucial in a relationship where large sums of money are often invested in the skills of the consultant. After all, the bottom line is that all businesses want value for money.

Consultancies tend to be based in major cities. Niche (or ’boutique’) firms are more widely scattered, but are concentrated in the southeast of England. Remember, however, that consultants often work at their clients’ premises.

The growth in consultancy

But why this growth? The Gershon Review is one driver. This government-led crackdown identified £21bn of potential public sector efficiency savings. These would be partly achieved by reducing internal staffing levels, making the public sector more reliant on consultants in all areas.

Enormous public-sector projects, like the NHS IT upgrade, forecast to cost more than £12.4bn, and the £2.3bn MoD Defence Information Infrastructure project, are boosting the demand for consultants.

Becoming a consultant

For some areas, such as scientific consultancy, entry is unlikely straight after graduation. Most move into such a role after passing any relevant professional exams and gaining relevant experience. However for some areas, such as management consultancy, prestigious and sought-after jobs are on offer.

Due to the competitive nature of the consultancy industry, academic achievement is important and transferable skills are essential. Those most valued by graduate recruiters include the ability to plan strategically, to see the bigger picture and inspire confidence in others. In addition, problem-solving and interpersonal skills are required – particularly the ability to build relationships with clients.

Absolute discretion is a must. An individual consultant or a firm may be dealing with a number of different companies or individuals at any one time, and they must do this without divulging any sensitive information.

Expertise is required in both private and public sectors, and consultants are increasingly in demand. For example, a Computer Week report showed the demand for IT consultants had driven up salaries by 17%, and management consultancies were crying out for business professionals.

Applying to consultancies

There are many big names within consultancy, but it’s worth making some applications to smaller companies too, where you will have a variety of experiences and, possibly, early responsibility.

Whoever you apply to, do your research so you can demonstrate to employers that you understand what the work involves. There’s stiff competition for work-experience placements, but they are essential if you want a career in management consultancy.