More and more companies today are not just looking for college graduates anymore. They are looking for MBA graduates. While undergraduate programs tend to teach the basics that are necessary for business, MBA programs teach the application of what you learned in business school during undergraduate study. MBA programs also help students learn how to apply their experience and knowledge to real-world working situations.
While undergraduate classes focus on individual successes and failures, MBA programs tend to work more on a group dynamic. While undergraduate programs gravitate toward individuals taking tests, individual quizzes and individual projects, MBA programs require more hands-on group projects and papers. The reality is that in a real-life business environment most work is done in a team or group environment. MBA programs give students and professionals the skill set that they will need to work with a team of fellow employees and/or how to manage a group of employees.
Earnings Potential According to a 2006 survey conducted by the Bureau of Labor Statistics, median annual earnings for advertising managers was approximately $70,000, approximately $90,000 for marketing managers, and $90,000 for advertising sales managers.
Advertising Facts at a Glance Advertising agencies are responsible for taking their clients' products and determining what way would be best to influence consumers into buying that product. In order to meet clients' requests, copywriters, designers, account managers, market researchers, and marketing strategies must collaborate and work in sync. Advertising careers present a higher stress level environment because it is highly competitive.
Examples/Details of Work The advertising field includes advertising and promotional staffers, marketing managers, public relations managers, advertising copywriters, and graphic designers.
"I have been insane on the subject of moneymaking all my life." -Cornelius Venderbilt
Business Facts at a glance:
More high paying entry-level jobs are becoming available to college graduates with business degrees.
Schools are offering more diverse business degrees that apply to a wide range of careers.
Statistics indicate that business related jobs are among the highest average paying jobs in the United States. Job growth in the business sector is also projected to be high over the next 8 years.
A History of Entrepreneurship in the United States
Cornelius Vanderbilt started out as a farm boy on the north shore of Staten Island, and became the owner of an empire of steamships and the illustrious New York Central railroad. He was also one of the first men to realistically envision the creation of the Panama Canal. "The Commodore" is famous for saying things like; "I have been insane on the subject of moneymaking all my life." And, "If I had learned education I would not have had time to learn anything else." And lastly, the infamous: "You have undertaken to cheat me. I won't sue you, for the law is too slow. I will ruin you."
Earnings Potential Accountants and tax auditors, according to a 2007 survey conducted by Robert Half International, had an annual salary of $36,000-$60,000 with 1 to 3 years of experience. Senior auditors earned between $43,250 and $79,250; managers between $51,250 and $101,500.
Taxation Facts at a Glance Taxation majors study the specific area of accounting having to do with tax laws. Taxation is an ever-changing environment; laws are constantly being changed that affect how accountants do their jobs. The taxation major helps students prepare for this by giving them a foundation with which to begin their careers and continue their learning and certification in their field.
Examples/Details of Work Those who study taxation typically enter the field as accountants and can focus on certain fields of tax accounting. Such work includes preparing tax forms and ensuring that such forms adhere to government legislation. Another opportunity in the tax accounting field is to work for branches of state and local governments and collect taxes, reviewing tax returns, and completing audits and allocating incoming tax dollars.
Obtainable Degrees Bachelor's and Master's Degrees in taxation and accounting are available.
Forensic Accounting Facts at a Glance Forensic accounting refers to a specialty in accounting that conducts investigations of financial misconduct. Another name for this field is investigative accounting. Because forensic accounting requires gathering of evidence and interviewing suspects, it is expected that someone who chooses this as their major would have a natural curiosity and aptitude for math, accounting and an overall understanding of the legal process.
Examples/Details of Work Forensic accountants, with their intuitive curiosity, background in business, law, or general accounting and strong ethics principles can be employed in just about any environment. Forensic accounting can be done in a freelance environment where one works for themselves and gets individual projects or one can be employed by a firm. Some examples of the areas that rely on forensic accounting are in the government, hospitality, real estate, travel, healthcare financial and education. Gaining experience in forensic accounting and completing an advanced degree, such as a master's can also bring about great success as a freelance accountant, or partnerships within a firm.
Degree Information Forensic accounting does not require a specific bachelor's degree in the field. Bachelor's degrees held in business or general accounting can still explore careers in the field. A master's degree in forensic accounting will help career progression by building on the undergraduate degree that is held. In order to be successful at gaining employment in this profession, it is critical that accountants hold a certificate. This requirement is referred to as being a CPA, or Certified Public Accountant.
In today's unpredictable economy financial planning is a must. Financial planning is comprehensive, to say the least. The most common components of financial planning are retirement savings, elderly care savings, college savings, life insurance and debt management. The best way to ensure that you and your family are protected is to plan for the future and take steps to educate yourself on financial planning. Typically, when someone thinks about financial planning, the first form that comes to mind is retirement. Full-time employers often offer retirement accounts as part of their benefits package. Employers who offer them may or may not offer to match some or all of the contributions you make into the account. An example of this would be a 401K account. Additional retirement accounts come in the form of 403B or Individual Retirement Accounts (IRA). Elderly care is a necessary part of financial planning. This is largely because of healthcare costs and long-term care issues. When going through the financial planning process elderly care planning can make a big difference in the available choices you will have at the time. College savings accounts are themselves a form of financial planning. Saving for a child's future helps relieve a burden from parents of having to make caring for an adult child part of their financial planning perspective. What can be seen as the most crucial of financial planning is life insurance. Life insurance provides for your family in case something should happen to render you incapable of working, or in the event of your death. This protection eases the burden on your family by paying off your mortgage, other debt and providing money to sustain your family in your absence. The financial planning industry exists to provide answers for you to be able to take care of your family. There are many, many options available depending on what your overall goal is. Talk to a financial advisor about completing a financial planning profile for you. Check with your financial institution, as many of them offer financial planning assistance at discounted rates or completely free. In today's academic landscape, flexibility is key. The hectic lifestyle of the modern student requires highly personalized options and choices. Luckily, you now have a myriad of options available – you can seek a degree completely online, take classes at your local campus, or develop a combination of both online and offline study. The pursuit of higher education has never been easier, and the vast majority of schools offering online degree programs also offer a complementary Campus Program, or a hybrid program designed to perfectly match your needs. Whatever your course of study, we can help you find the most ustomized solution to fit your busy schedule. Find the program that best suits your individual tastes, and be on your way to a degree sooner rather than later.
Earnings Potential Finance degrees open doors for many high-paying jobs. The median annual earnings for financial analysts was $66,580 in May of 2006, according to the U.S. Bureau of Labor Statistics; the average annual salary for persons employed in securities and commodities was $102,000.
Finance Facts at a Glance A degree in finance readies students who are strong in managing money and the interests of their employers. A finance degree will be a more focused degree than accounting and awards many job opportunities that might suit you. Careers in finance require the study of not only financial matters but also perspective on how to use strong mathematical skills and couple that with business sense to help employers meet goals set for the success of the business.
Earnings Potential According to the Bureau of Labor Statistics, the median annual earnings of wage and salary accountants and auditors were approximately $55,000 in 2006, the top ten percent earning more than $90,000.
Accounting Degree at a Glance Accountants and auditors assist large businesses, individuals and non-profit organizations with money management, including various expenses and taxes owed. Being an accountant requires a strong aptitude for math, however the advances made in the computer and software industries have lessened the need for tedious mathematical tasks to be executed by accountants. Those in the accounting field can rely on computers and software, but still must analyze computer results and ensure their accuracy.
Examples/Details of Work Recipients of accounting degrees can become certified public accountants, external auditors, management accountants, government accountants, or internal auditors. Accountants and auditors work for public firms, non-profit organizations, government agencies, and/or individual private clients.
Earnings Potential For individuals who received bachelor's degrees in construction management, the median annual salary offer was approximately $47,000 according to a July 2007 survey conducted by the National Association of Colleges and Employers.
Construction Management Facts at a Glance Construction management is the profession that oversees a project of construction or renovation on structures. The fast-paced environment of construction management requires that an individual oversee the entire project to ensure safety of workers and the surrounding buildings and people. Construction requires planning, execution, budgeting and time management. These skills, along with flexibility and the ability to negotiate and be a critical thinker and quick problem solver, are all requirements to be successful in the industry of construction management.
Examples/Details of Work Individuals with construction management degrees can move on to become building equipment contractors, electrical contractors, and building construction managers, among other professions.
Earnings Potential The marketing and sales industries hold a great deal of earnings potential. Marketing managers make a median annual salary of approximately $104,000, according to a 2007 survey conducted by the U.S. Bureau of Labor Statistics. The salary provides a base, but a majority of the income is generated in marketing and sales from commissions. Commissions are generated from a percentage of the sales amounts. Marketing and sales industry workers can depend only on a portion of their salaries if they cannot produce positive sales numbers.
Marketing and Sales Facts at a Glance Marketing and sales then come together to identify how to promote and sell the item to get the maximum amount of profits. Marketing and sales require common sense, but usually also an educational degree at a bachelor's level. Marketing requires a great deal of research in order to develop and produce a product. Sales people then target the intended audience and use their interpersonal skills to demonstrate the product to consumers. The sales portion requires persuasive speaking abilities. Marketing and sales work hand in hand to make the distribution of a new product possible. It may not always be a new product, but possibly a new market. Again, this requires research and pinpointing of how the product will benefit the new market of consumers.
