Business Careers
This will explore the many types of jobs in the world of business.
By Kevin Parente
Accounting
Accounting is the study of how businesses track their income and assets over a period of time. Accountants have many activities including financial statements, recording business transactions, computing costs, quality management, tax strategy, etc. Most jobs in accounting require at least a bachelor’s degree in accounting or a related field. People who have acquired this degree usually get an average annual salary of $34,500. People who have achieved a master’s degree in this field get an annual average salary of $36,800. In 1998 accountants held over 1,080,000 jobs and most were worked through private companies. On the other hand, there are still a large number of licensed Certified Public Accountants. This is still a growing business.
Real Estate
Real Estate is the purchasing or sale of a home or investment property. It is one of the most important business for this financial event in peoples’ lives. Real Estate has many fields including, title insurance, construction, mortgage banking, property management, brokerage and leasing etc. Each real estate agent must be licensed. They have to pass through high school and then pass a written test. Licenses must be renewed annually. Some states require a bachelor’s degree in order to receive licenses. Real Estate agents earn an annual salary of around $45,640. The middle 50% earn between $28,680 and $80,070 annually. Real Estate agents and brokers make up about 347,000 jobs. Most were self employed and usually in large urban areas or largely growing communities.
Market Research
Market Researchers are applied consumer behavioralists, combining quantitative data with their understanding of how markets work to better promote a product. They work to see what best sells a product which brings in money for that company. Many positions are targeted for MBA graduates although prior training skills may help undergraduate’s chances. Some qualities that these researchers use are strong analytical, methodological, and communications skills.
Commercial Banking
Commercial Banks are in the business of providing banking services to individuals, small businesses and large organizations. Commercial bankers usually have people, sales, communication, computer and analytical skills. Some key jobs in commercial banking are credit analysts, loan officers, branch managers, trust officers, and mortgage bankers. Most of the commercial bankers work 40-60 hours per week and earn different wages with benefits,
Trainee/credit analyst: $24,000 Bachelor's degree Junior loan officer: $34,000 Bachelor's + 3 years Portfolio lender: $45,000 5-7 years Senior corporate loan officer: $50,000 10 years Loan department manager: $80,000 10 years or more
Most if not all banking is now done on computers.
Insurance
Insurance is a trillion dollar business that employs more than 2.5 million people in the U.S. alone. Insurance involves helping people and business manage risk to protect themselves from large losses and accidents. Jobs of insurance include underwriters, sales representatives, asset managers and customers service representatives. Salaries come in different ranges for each type of job,
Actuary: $28,300-65,500
Agent/Broker: $14,900-58,700 Claims Adjuster: $24,500-42,000 Underwriters: $25,000-61,000
Advertising & Public Relations
In the field of Advertising you will take products and create promotional campaigns that get people excited about that product. In public relations you will help manage the perception of the products. These public relation firms help companies manage speeches and the looks on their major brochures. People who wish to go into the field of advertising usually need a bachelors’ degree in advertising or journalism. A course of study should include marketing, consumer behavior, market research, sales or communication methods. A person who wants to pursue a job in public relations usually needs a bachelors’ or masters’ degree in public relations in journalism. This person should include classes in advertising, business administration, public affairs, and political science. These workers usually earn a annual salary or $31,900. These salaries vary depending upon the level of managerial responsibility, education, length of service, location, and size of the firm.
Retailing
Retailing is one of the fastest growing economies in the world. Most careers in retailing are people oriented, fast paced, and exciting. Some options for retailing are store management, buying, merchandising, and central management. Here is a chart of the of the earning history of a retail worker:
Business Summary
In the field of business around the world, there are many career choices you can make. Business is a great career for people who like people and have an interest in money jobs. A vast majority of Businesses become big because everyone needs them. Many of these choices have average income. Almost all of these careers require at least a Bachelor Degree in some sort of business course. Most businesses also require computer work because most of the files of people saved in the job are now done on computers for better organization and neatness. When entering a job in business you should prepare for work on a computer as well as with other co-workers, cooperation is a main aspect in the world of business. If you choose to enter a job in business make sure to have some experience in computer processing. Business is a big job world and it is growing at a very fast pace, people who choose a job in this career should be very pleased in the future with their income and job.