Benefits of becoming a consultant
Consultancy is an important and effective way for the University to deliver impact by making available an individual’s research expertise to external organisations. Consultancy can deliver powerful benefits to not only the individual researcher but to the University as a whole.
Benefits for you
Undertaking consultancy and service work can bring benefits to you in both a personal and professional capacity by:
- Raising your profile
- Developing opportunities for engagement
- Generating income for you or your School
Undertaking consultancy and service work for public and commercial organisations raises your profile and engaging with a business can often open up other opportunities and may lead to future research, studentships and Knowledge Transfer Partnerships (KTPs). Companies often look to universities to undertake small pieces of consultancy and service work with a view to developing this into a larger project at a later date, for example, industrial research, collaboration and studentships.
With Head of School approval full-time members of staff may undertake up to 60 days worth of consultancy in any academic year and the income generated can either be paid to you through the University payroll system (with the appropriate deductions made for Income Tax and National Insurance), or can be transferred into an account within the School. Alternatively, you can elect to forego this in favour of your full share of your consultancy fee also being transferred into your School. If funds are transferred into the School, they cannot be added into existing research grants but can be used to assist you with travel costs to conferences, reading materials, upgrading and maintaining lab equipment or to bridge funding for existing staff members.
Benefits for your School
Your School benefits in many ways from every piece of consultancy or service work you undertake. It can help to:
Generate income for your School
Contributes to knowledge transfer metrics
Raise your School’s profile both with industry and with other universities
Encourages cross-disciplinary dialogue and makes other Schools aware of the expertise and facilities that are available within your School
Your School will be entitled to receive up to 15% of every consultancy fee charged. If you choose to forego your entitlement to your share of the income from your consultancy work, up to 85% can be transferred into the School. The School may retain up to 15% of this amount towards operational costs. The balance can be allocated to a nominated account within your research centre. All figures generated from consultancy and service work are counted towards the University's submission to the Scottish Funding Council’s Knowledge Transfer Grant.
Benefits for the University
Consultancy raises the University's profile and attracts companies to engage and make use of its academic expertise. By doing so it:
Generates income for the University
Enhances the University’s reputation
15% of the income generated through consultancy and service work goes back to the Central University and is used to cover the overhead costs of the staff working within the Commercial Division.