As such, while consulting, finance, and tech remain the most popular job destinations among b-school students, there is a clear and growing demand for the consumer goods industry. With a diverse range of roles, competitive salaries, and well-defined career progression, it's easy to see why.
So, what exactly is consumer goods? What roles are available, and which companies hire b-school grads?
Here's a breakdown of what a career in consumer goods looks like.
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FMCG vs CPG: What do they mean?
The consumer goods industry can be separated into two main domains: Consumer packaged goods (CPG) and fast-moving consumer goods (FMCG).
CPG is a broader category of products that consumers frequently purchase. It encompasses a wide range of items, from luxury goods to mass-market products such as food, beverages, personal care items, and household cleaning products.
On the other hand, FMCG is a subdivision of CPG that focuses on fast-moving items—think of it as the fast fashion of consumer goods. FMCG typically covers products that are low-cost, have shorter lifespans, and experience high turnover rates due to high demand. Some of the biggest brands around the world fall into this category, such as Coca-Cola, Nestlé, and L'Oréal.
FMCG vs CPG: Job characteristics
CPG tends to focus on longer-term, strategic goals with a slightly slower pace of work, as you may be working with higher-end products that take longer to develop.
FMCG, on the other hand, is likely to be fast-paced and driven by high-volume sales. The work is more reactive, often centered on keeping up with trends and market needs.
How does b-school prepare you for a career in consumer goods?
Attending business school prepares individuals for a career in either CPG or FMCG by equipping them with essential skills needed in the industry, including decision-making, marketing, and brand management.
Most b-school curricula also provide students with knowledge in supply chain and operations management, another key element of the consumer goods sector.
Furthermore, many business schools are integrating sustainability into their teachings, which is perfect for grads looking to enter consumer goods, as sustainability is becoming increasingly important in the industry, with consumers demanding more eco-friendly products.
How can b-school students land a job in consumer goods?
There are a plethora of strategies b-school students can utilize to acquire the necessary skills for a future career in consumer goods. For starters, students interested in the industry should select specialized modules focused on consumer goods. This will help them get a head start and gain the essential knowledge needed.
Another powerful tool is networking. B-school students looking to embark on a career in consumer goods should network—both digitally and in person—with influential figures and companies in the industry. This can generate valuable opportunities post-graduation.
In addition, students should seek relevant internships during their b-school journey. Immersing themselves in the industry allows them to build valuable connections and gain hands-on experience they can add to their resume.
Three key roles for business school grads
For b-school grads looking to embark on a career in consumer products, there are plenty of high-impact, rewarding roles, especially in management.
With employment in management occupations projected to grow faster than the average for all occupations in the United States from 2023 to 2033, according to the US Bureau of Labor Statistics (BLS), now is the perfect time to explore these management career pathways in consumer goods.
Here’s an overview of three key roles to help b-school students unlock their potential career in consumer goods.
1. Product manager
A product manager oversees the entire lifecycle of a product, from conception to launch. They work closely with other teams to ensure the product meets consumer needs and is ultimately a success.
Becoming a product manager after an MBA can be a rewarding career path, allowing you to apply the knowledge gained in strategy, finance, marketing, and management. With an average annual salary of over $125,000, a role as a product manager offers high salaries and, as such, provides a great return on investment for your MBA.
2. Brand manager
Working as a brand manager is ideal for MBA grads who are both creative and strategic. Brand managers are responsible for developing and executing marketing strategies to build and maintain a brand’s image, identity, and position in the market.
Given the high demand for MBA graduates in brand management roles due to their highly transferable skill set, some business schools offer specialized MBA programs in brand management. For example, the Nelson Business School’s MBA in Brand Management program covers key areas such as brand strategy, market research, consumer behaviour, digital marketing, advertising, and brand equity management.
3. Supply chain manager
A supply chain manager plays a critical role, ensuring the efficient flow of products from production to consumers. This may involve negotiating a contract, demand forecasting, stock control, and stakeholder management.
At an FMCG company, supply chain managers will focus on speed, efficiency, and high-volume turnover. In contrast, a CPG supply chain manager will likely deal with more complex logistics and longer product life cycles; As such, it is key that b-school grads consider what they would prefer.
Four top companies hiring business school grads
There are plenty of consumer goods companies, including many that we know and love, eagerly awaiting b-school grads to join their teams.
Here's a brief insight into some notable companies every ambitious b-school student should look out for.
1. Coca-Cola
The FMCG company known for its famous syrup concentrate drink, Coca-Cola, has been operating as a franchised distribution system in the U.S. since 1889. With its long legacy, Coca-Cola offers plenty of roles suitable for MBA grads, including positions in product management, brand management, supply chain management, marketing and finance.
2. Unilever
One of the world’s largest consumer goods companies, Unilever manufactures a wide range of products, from food and beauty to home care items. For b-school grads looking to join the company, Unilever's Future Leaders Program is a great starting point, offering applicants the opportunity to learn about the company’s 400 diverse brands, business operations, and sustainability initiatives across three years.
3. L'Oreal
The French multinational cosmetics company, recognized for its diverse portfolio of beauty brands, regularly offers summer internships for MBAs, allowing students to gain the experience often needed to enter the industry.
4. Nestlé
Nestlé, the food and drink processing conglomerate, offers a variety of roles particularly suited for MBA holders, including positions in sales management, product management, category management, financial analysis, and more. With its commitment to sustainability measures such as climate action, deforestation-free primary supply chains, water stewardship, and waste reduction, a role at Nestlé is ideal for eco-minded business school students.
