MBA

How to Start a Career In Business

Posted on March 24, 2017 by General Business 0

The world of business is one of the latest ‘trendy’ career choices and there are millions of young people each year who sit and plot a career path in business. It is understandable to see why, business has changed radically over the last 30 years and the industry is no longer occupied by bearded old men in large overcoats. These days there are businesses being headed up by young, hungry and ambitious men and women who are constantly seeking to change the shape of business.

There are many things that you need to do in order to forge out a successful career in business and here is how you should get started.

Entrepreneur

With the likes of Mark Zuckerberg and Evan Spiegel making multi-million dollar fortunes from the tech industry, entrepreneurship is something that many youngsters want a slice of. There were more businesses registered last year than any other year on record and this year looks set to be the same as thousands of men and women across the World look to turn their bright idea into a money spinner. If you want to forge a career in business and you think that you have a great idea to do so then don’t hold back. Many of the World’s most successful entrepreneurs started early and took their idea to the top, and you can too. The best advice would be to talk your idea and run with it as far as you can.

Education

Studying for an MBA is the best way to forge out a successful career in business and if you do well then you could follow in the footsteps of someone like Mark Stiffler who completed his MBA in Philadelphia and is now the CEO of his very own management consultant company. An MBA will give you the best tools possible and prepare you thoroughly for the world of business and if you study hard at school then you could get accepted for an MBA at one of the top universities in the country. A qualification from one of the Ivy League universities will give you a fantastic foundation to launch a great career in business.

Extra Curricular

Even if you plan to go down the education route, you need to be fully dedicated to all things business and be doing things away from the classroom to better understand the industry and gain as much experience as you can to take with you into your career. You could volunteer in a local business, take on an internship or start your own small business in order to further your business knowledge. It would also be a good idea if you keep up with what is happening in the business world, the ammunition and information which you can get from reading daily business news is highly valuable and an help you a great deal in the future.

You must be persistent if you want a career in the world of business, it is tough world and you will need to be thick skinned and ready to fight tooth and nail for success.

The Benefits of Earning a Finance Degree

Posted on February 21, 2017 by General Business 0

If you are considering which degree to choose from, one that you may want to consider is the finance degree. If you are inspired by people like Robert Stefanowski, and aim to achieve similar heights, it really is the only degree option out there. Let’s take a look at the particular benefits of completing a finance degree.

  1. You Will Know How to Handle Money

Budgeting is something most of us are not particularly good at. While you are likely to complete a finance degree for the career opportunities, the fact that it will enable you to truly master your personal finances is certainly a benefit. This is particularly true when you consider that most finance degree graduates take on high paying positions, where it is all too easy to overspend! People with a finance degree know how to build and create wealth, which is a great benefit to yourself. It also helps that you will know how to make the tax system work to your benefit.

  1. You Will Earn a Lot of Money

According to the U.S. Bureau of Labor Statistics, financial managers earn an average annual salary of $117,990 per year, which is some serious money. The top 10% of earners received $187,200 per year. If you specialize in certain business needs, and if you obtain an MBA or similar graduate degree, you are likely to find yourself in that top 10%.

  1. You Have Lots of Careers Open to You

Often, a degree prepares you for a very specific job. If you complete a psychology degree, for instance, you are likely to get to work as a psychologist for a health care department. But with a finance degree, you can work anywhere. You can choose between for profit, not for profit, and governmental organizations, and in any type of industry that interests you as well. It will never be difficult for you to find a job once you have a finance degree, because financial skills and knowledge are needed across the board.

  1. You Can Expect Lots of Promotions

While you are likely to start with an entry level position when you complete your degree, you will grow very rapidly, particularly if you keep your skills and knowledge up to date. Before you know it, you will be heading a department, moving on to senior manager, and perhaps even CFO. Some even go on to become CEOs, if that is something that interests you.

The finance degree is not the only degree that allows you to earn a lot of money. In fact, if you opt for law or medicine, you will earn a whole lot more. However, the finance degree is the one that allows you to accumulate wealth, work for whoever you want, wherever you want, and truly grow in your position. If you are looking to complete a degree that benefits you personally and professionally for the rest of your life, it should be clear that this is the one.

4 Ways an MBA Will Jumpstart Your Consulting Career

Posted on January 28, 2015 by General Business 0

The Bureau of Labor Statistics reports that career opportunities in consulting are expected to grow at a higher-than-average rate between 2010 and 2020. Not only are consulting careers increasingly available, they are also one of the most coveted jobs in the business world, as they provide financial security and a sense of professional achievement. Having a degree is essential to landing one of these competitive careers, and MBA graduates are aggressively pursuing consulting jobs now more than ever. Aspiring consultants may want to earn a master’s degree in business administration which will provide the following four benefits that allow for promising and competitive careers.

jump starts

Qualifies You for High-Paying Jobs

MBA graduates are in high demand by some of the country’s top consulting firms. Even in the midst of a tough economy, starting salaries for MBA graduates continue to grow. Those who have earned an undergraduate degree typically have starting salaries ranging from $60,000 to $70,000, while MBA graduates can expect to earn as much as $135,000 in their first year. MBA graduates are also offered generous signing bonuses at top consulting firms such as Deloitte and Accenture. These companies offer bonuses as high as $35,000 to MBA earners fresh out of college. With MBA graduates in such high demand, it is no surprise that the financial investment of earning an MBA, including all tuition costs, is typically earned back in fewer than four years. The Washington Post reports that the those earning executive MBAs can expect an even quicker return, as the payback period has recently decreased to a meager 17 months.

Gives You an Advantage for Moving up the Ladder

When it comes to consulting, many companies require an advanced degree such as an MBA before they will consider an employee for a promotion or advancement. Even if you are otherwise qualified, senior level managers in charge of approving promotions may not know you on a personal or professional level. In these situations, your resume must speak for itself, and having an MBA is often imperative for proving that you are worthy of moving up the ladder. While an MBA may not guarantee a promotion, it significantly increases the chances of landing high-level positions. Beyond simply writing “MBA” on your resume, a master’s degree in business will give you actual experience that is transferable to the workplace. Through earning an MBA, you will gain specific casework knowledge, become technologically savvy and learn the interpersonal skills that are essential to a career in consulting. All of these qualities will greatly improve your chances of standing out as an employee worthy of earning a promotion.

Helps You Establish Credibility in the Workplace

According to Forbes, establishing your own personal credibility is one of the greatest advantages of investing in an MBA. Having an MBA gives standing to employees in the consulting industry, and those who have pursued this difficult degree have already established a level of integrity and perseverance, as well as a strong work ethic.  Through the process of earning your advanced degree, you will have the opportunity to make connections in the consulting world that will give you an advantage while trying to establish yourself as a credible and competent consultant in the real world.

Provides Opportunities for Hands-On Experience

While working toward your MBA, you will have countless opportunities for hands-on experience with real-world consulting. To get the most out of your advanced degree, take every opportunity to join consulting clubs, attend forums and network with the most reputable firms in the business. MBA programs frequently connect students with alumni who are now working as consultants. Throughout your MBA career, you will have the opportunity to intern for and learn from these consulting companies, giving you a chance to delve into real-world cases. Additionally, MBA programs offer assistance in landing consulting jobs through intensive mock interviews and resume-writing courses. The application and interview process for landing a job in the consulting world is rigorous, and receiving this kind of assistance from knowledgeable professors and businesspeople is invaluable.

To land a job in the highly competitive field of consulting, standing out from the crowd is essential. Consulting firms are recognizing the value of hiring MBA graduates because of their work ethic, knowledge and hands-on experience. Consider pursuing an MBA to give you the additional tools and competitive edge you need to score one of these coveted positions.

Image by Millenia47 from Flickr Creative Commons 

 

About the Author: Tara Jones is a contributing writer. She has worked in the business world for 20 years as a consultant, senior manager and professor.

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