ADAPTED FROM CAREERS IN BUSINESS.COM Business Majors and Careers

Careers and Majors in Business What business careers are right for you? What aptitudes and skills will you need for each career? What types of positions might you expect? What’s the salary range? Business Majors and Careers  Accounting  Finance  Management  Management Information Systems (MIS)  Human Resource Management  Entrepreneurship  Marketing  Sales

Career Questions How much do you like to interact with people? Do you like to analyze situations and come up with solutions? Do you like to work with numbers? Do you consider yourself a detail person? Do you like to try new things? Do you like to look at the “big picture” rather than details? Do you like to be creative?

Skills for Accounting

Accounting Job Options Auditing – checking ledgers and financial statements Budget Analysis – developing and managing financial plan Management Accounting – work in companies and participate in decisions about capital budgeting and business lines. Tax – prepare corporate and personal income tax statements, formulate tax strategies (tax deferrals, acquisitions/mergers, etc)

Skills for Entrepreneurs

Key Skills and Traits for Entrepreneurs Get used to rejection Network for great opportunities You need to sell, sell, sell You need a strong cross- functional skill base Poor business skills account for most failures. Typical time commitment: 60 – 80 hours per week Salaries: None K-State Grads  Paul Edgerly – owns part of the Boston Celtics  Dave Drieling: Owns GTM, Quiznos, Max Fitness and other businesses

Finance Careers Commercial Banking Corporate Finance Investment Banking Real Estate Financial Planning Hedge Funds Insurance Money Management

Commercial Banking Skills and Talents

Job Options Credit Analyst – evaluate consumer and business loan applications (entry level) Loan Officer – making loans to businesses and consumers Branch manager – oversee all branch activities Trust officer – deliver trust services, financial products and advice to bank customers (generally high asset).

Skills and Talents for Corporate Finance Ability to work in teams Enjoy solving problems using intuition and analytics Comfortable with ambiguity, rapidly changing environment – tasks change day-to-day and hour-to-hour Literate with spreadsheets, presentation packages and large-scale data management tools – especially for entry level positions Communicate your ideas, build deep networks and be passionate about work Initiative – ability to work beyond that assigned Speak another language Familiar with models, techniques and tools for managing risk Good with people – able to persuade others

Job Options in Corporate Finance Treasure – oversee financial planning, raising funds, cash management, acquiring and disposing of assets. Financial Analyst – determining financing needs, analyzing capital budgeting projects, long-ranging financial planning Credit Manager – establishing policies for granting credit to customers, setting guidelines for collecting from creditors Benefits Officer – pension fund assets, 401 K programs Real Estate Officer – identifying company locations, leases and acquisition of real estate Investor Relations – disseminating information, annual reports, annual shareholder meetings Controller – oversees all financial planning and activity in the firm

Talents and Skills for MIS Technical skills with computers Understanding of business, accounting, processes and communications Certification in Microsoft, networking and security systems Ability to work with non-technical employees

Salaries for Management Information Systems TitleSalary Range Information Technology Manager $62,500 to $88, 250 Chief Security Officer$97,500 - $141,000 Chief Technology Officer$101,000 - $157,750 Vice President of Information Technology $107,500-$157,750

Skills for Human Resources

Job Options for Human Resources Recruiting and placement manager Development and training specialists Compensation specialist – job descriptions, wages, salaries, executive programs and job evaluations Benefits specialist Employee and labor relationship specialists Health, safety and security specialist

Salaries for Human Resource Specialists

Core Skills for General Management

Job Options Line Manager – ensures tasks are performed to standards, oversees day-to-day activities Middle Manager – between top management and supervisors – ensures that departments or units or working in concert toward goals set by top management Executive Manager – deal with large, conceptual area of business to chart directions and goals Hospital Administrator and Health Services Manager Hotel Manager Specialty Manager – perform technical, interpersonal and conceptual task in management – city manager, airport manager, trade show manager, restaurant, etc.

Salaries for General Management

Marketing Advertising and Public Relations Market Research Product Management Retailing

Skills and Talents for Advertising/PR

Skills and Talents for Marketing Research

Salaries for Operations Research New college graduate- $50,000 - $60,000 Purchasing $85,000 Certified purchasing managers - $95,000 Production managers - $100,000 plus performance bonuses. Operation research analysts – up to $250,000.