The Economy is Changing Hourly 0
According to ‘The Telegraph’- Article by Jeremy Warner (DEC 2011)
ProGrad is trying to put out the warning for all graduates that there may be some tough economic times ahead. (http://www.telegraph.co.uk/news)
Now is the time to brace yourself and get clued up about the types of industries and roles available. Our recommendation is to research the industries which will come out on top during the uncertain times ahead. Try looking at publications such BRW (Business Review Weekly), The Australian, SMH, Marketing Mag, CRN, ARN, Adnews and B&T to name a few.
To give you a helping hand, ProGrad have done some of the work for you. We have researched the top performing Industries that will help you make an educated decision on the best suited career path after University.
| Information Technology | The technology space has always been one of the most robust industries available. Almost all organisations rely on the technology space to keep their businesses in operation. There is always a huge demand therefore within the technology arena.
Apple Mac announced their most successful year for growth in 2010 stating: “We are blown away to report over $20 billion in revenue and over $4 billion in after-tax earnings’ – Steve Jobs 2010.
The 2011 Financial Report is set to beat this revenue figure. Recent statistics released by Seek.com stated that over 22% of the highest earning positions across Australia were within the technology space. The only other industry to come close to this statistic was the mining area. It is highly lucrative, and offers a highly progressive career opportunity for a graduate. |
| Advertising/ Arts/ Media | Unfortunately this industry is suffering. According to the Channel V 2010 Financial Report, they have laid off 30% of their staff in the past 12 months. This figure is forecasted to increase in the future. If this is the starting path you want to take, we would recommend re-considering for the time being and get in a more stable position. |
| FMCG- Fast Moving Consumer Goods | The Fast Moving Consumer Goods Industry has always been steady in nature according to a Bloomberg Report (2011). The world’s largest food manufacture reported some of their highest earnings through the 2008 GFC and that trend is set to continue. |
| Banking and Financial Services | The Financial Services Industry is the fourth largest sector in Australia’s economy, generating 8.1 percent or $81 billion of real gross value added to the economy (IBSA 2011 Report). This is a great industry to be involved with, however there are warning signs: Changing Government regulations and risky investment deals have made new employees susceptible to loss of jobs and redundancy to accommodate for the loss in the overseas markets. The: Australian.com.au, warns that uncertain economic times have made the major 4 banks of Australia go into a cost-cutting mode and have laid off approximately 10% of staff across the board. |
| Insurance and Superannuation | There is always a high demand for these roles. However choosing the right company can be the tricky part in finding your dream job within this industry. According to Industry Super Network, Avoid under-performing Super Funds, such as banks and some smaller organisations. However most of these Industries need a strong focus on Government regulations and law enforcements. |
| Human Resource Management | The first thing to know about this Industry is the difference between HR and recruitment. Human Resources (HR) is the function within a company that deals with personnel issues (yahoo.com.au2011). A role as a “Recruitment Consultant” requires natural sales flair to be successful. This is a thriving area to be in as it covers a broader area. |
| Healthcare + Medical | There are a lot of different elements to this industry. The two main sectors are: Scientific Drug Development and then the Commercial Sales aspect. When dealing with the commercial business side, there is a lot of money to be made selling medicines where the commercial trading of medicines make up 60% of the entire Industry (PWC 2011). There will always be a high demand for this industry; however the most assessable avenue to take is the Corporate Sales sector. |
| Marketing Communications | Due to high costs of running a marketing campaign, many companies are cutting down on the operation costs of the department (staff numbers included). Many entry level marketing roles include data entry and administrational duties. On top of this, many Physical marketing avenues (such as promotions) have nearly almost gone online; MarketingMag Australia states: ‘The inevitable has occurred – internet use has eclipsed TV use in Australia. 93% of Australians access the internet at least weekly, compared to 90% who watch TV.’ (MarketingMag.com 2011)Due to this, Many marketing roles require someone who has a keen flair and knowledge of technology and Internet services. |
| Construction | This industry has actually slowed according to a ACIF Industry Report for 2011 for Residential and Non Residential buildings. However in Government and Mining sectors it has increased significantly to keep up with high demand of infrastructure and resources for the Australian and Overseas Markets. Engineering Construction is forecast to peak at close to $120 billion in 2013/14, reflecting the expected commencement of a number of large resource sector projects (ACIF.com 2011). |
