Watch out for the large number of companies recruiting during the Milkround and in the Lent/Hilary term, especially those running graduate traineeships in management of some sort. Increasingly, many companies will allow and even encourage you to take some time out between graduation and starting a traineeship: anything between 6 weeks and a year is feasible, and is a definite opportunity for those afraid of the real world to take a bit of time to prepare! Self-employers should register their company with Companies House, and will probably require extensive consultation with their bank, before starting out. Take advantage of any advice offered - experience is invaluable!

Rather obviously, organisation and people management will be paramount for any manager. Self-employers, however, will need a more complete grasp of business, including budgeting and PR skills. A sound grasp of how to run efficient business is a particular advantage, and will be most useful in either side of the sector. Companies running management traineeships will be looking for the same skills as those that a self-employer should demonstrate, but will not expect the skills to be as developed.

As the occupiers of the top rung of the responsibility ladder, managers are generally very well paid, and work relatively sociable hours. With the pay comes responsibility, however, and you will be expected to do whatever is required to run your firm well.

In self-employment managers can earn anything (observing entrepreneurs such as Richard Branson, it quickly becomes apparent that the sky's the limit), but can also lose heavily.