The Role to Apply

Choosing a Career Path

Choosing a career path is one of the tasks that most students consider challenging. As the cost of living keeps skyrocketing, people are concerned about being in a position to support themselves in the “real world;” therefore, jobs may be selected based on a paycheck. On the other hand, others may take a career path on something they are passionate about and enjoy doing. The contemporary society attaches success to those holding well-paying jobs and looks down upon people who chose their careers based on passion rather than money. However, whichever the objective, a career should fulfill a purpose and offer rewards. There is an array of endless career paths ranging from Business, Technology, Engineering, Medicine, Arts, Music, Fashion, and Finance, which students can choose and in this context, the analysis will focus on Business Management.

The Industry Section

Business Management is the governance of all administrative, technical, and human processes involved in wealth creation (Campbell, Case & Fotsch 119). Since it entails proper, effective and efficient management of resources, professionals can work in any managerial position whether in a for-profit, government or non-profit entity. Nevertheless, the course is designed to equip students with the skills to work in the commerce industry. The sector focuses on trading items of economic value such as goods, services, information and ideas for money between two or more entities (Groysberg et al., 154). Thus, students learn various technical and managerial capabilities to aid them in achieving organizational objectives.

Reasons for Entering the Industry

Businesses touch every aspect human life. They are designed to solve a need by providing a product or a service. I am entering the industry because I am an entrepreneur and want to start businesses. However, for a starter to thrive, it needs adequate intrapreneural skills and knowledge, which can be obtained by studying a business course (Daks 18). Further, it has always been my purpose, dream and vision to become a business executive and grow my company to be among the Fortune 500 list of companies. In addition, I can also get a well-paying job in a profitable organization.

Positive and Negative Trends that can affect the Industry in 1-10 years

One of the positive trends is the technology environment, which continues to be more sophisticated. New and more effective technological developments will enhance the efficiency and effectiveness of business operations, improve quality of services, and lower the cost of doing business hence profitability (Susca 56).

Conversely, one of the negative trends is the geo-political environment. Bad governance, political uprisings, and wars will negatively affect business expansion in the next 10 years (Baporikar, 112). An example is the Arab Spring, Middle East Wars, and Russia interfering with neighbors.

The Career Path Section

Expected Career Path

A Degree in Business Management (BBM) has several specialties including marketing, accounting, human resources, finance, purchasing and supplies, business information systems, risk and insurance, and economics (Top Universities). I plan to specialize in finance, which is a broad sector that caters for a variety of skills and offers an array of opportunities. Precisely, I desire to be an investment analyst tasked with analyzing business performance and investing in potential sectors that create value for the shareholders (Sisca, 56). The knowledge earned will be assistive in setting up and running my business.

Additional Skills, Credentials or Training

I will need professional certifications to enhance my ability to provide solid financial analysis. There are several but the primary ones include, the “Chartered Financial Analyst (CFA) and the CISI Certificate in Corporate Finance.” The CFA has three levels that can take approximately 4 years to complete. It is one of the most sought after certification that equips financial professionals with portfolio management and investment analysis skills and knowledge. On the other hand, the CISI Certification imparts professionals with the legislative, regulatory, and technical knowledge of the corporate finance environment (Largest Indianapolis-Area Financial Planning Firms 18).

Useful Advice

My father’s friend Randle is a CFO in a leading company in my State. He worked in the financial sector for 20, resigned and established a consultancy firm. After seven years “being his own boss”, he has amassed considerable wealth and enjoys what he does. Randle told me that, though I might have the qualifications, scaling to greater heights requires passion and ambition. Employment provides the platform for personal growth but actual success comes with having your own investment.

The Specific Role Section

Role to Apply

Once I graduate, I would prefer applying for the role of an investment analyst since it is compatible with my skills and interests. As a BBM (Finance Major), I can begin my career in the banking sector, audit firms, other financial entities, and institutions, as a banker, an investment analyst, and a strategic management position. Working in an institution, I will be in a position to scale to the position of a chief finance officer tasked with forecasting organizational profitability, developing strategies for the firm, preparing financial statements, and analyzing and advising the firm on potential investments opportunities (Baporika 23).

Salary Range for an Investment Analyst

According to Salary.com January 2018 updates, an Investment Analyst earns an average of $80,740 per year. The salary ranges from $68,000 to $97,000. On the other hand, as per Glassdoor 2018 analysis, the average is $81,519/year, the lowest being $54,000 and the highest being $128,000. Payscale.com provides a mean salary of $62,000 annually, the lower side being $45,000 and the highest being $92,000. Indeed.com provides a median of $76,000. However, according to the Bureau of Labor Statistics estimate of 2016, the median pay was $81,760 per year (n.p).

Things to Like Most and to Like Least

What I will like most about this position is the opportunities for growth. As indicated above, the sector is highly diverse so a competent investment analysis can work in different positions in an organization. Additionally, job opportunities are expected to rise by 11% until 2026 (Bureau of Labor Statistics n.p). Besides having the ability to work in many industries, the job has a high median salary. Further, since investment analysts reveal tangible insights about company performance, they can be tools for real change in the firm.

The thing I will like the least are the long working and travel hours that can be stressful sometimes. The sector is also highly competitive since companies constantly seek highly qualified individuals to fill positions and some may emphasize on hiring individuals with a master’s degree.

Conclusion

The Business sector is highly lucrative and Business Management executives are needed in every aspect of the economy. The course equips learners with skills and capabilities required to manage resources for organizational benefit. A specialty in finance opens up countless opportunities for professional growth and development.

Works Cited

Baporikar, Neeta, ed. Global Practices in Knowledge Management for Societal and Organizational Development. IGI Global, 2017.

Bureau of Labor Statistics. Occupational Outlook Handbook: Financial Analyst. 2018 Retrieved from https://www.bls.gov/ooh/business-and-financial/financial-analysts.htm

Campbell, Dennis, et al.”More Than a Paycheck.” Harvard Business Review, vol. 96, no. 1, Jan/Feb2018, pp. 118-124. EBSCOhost, search.ebscohost.com/login.aspx?direct=true&db=buh&AN=126920007&site=ehost-live. Cruz, K. (2018). Charting Your Career Course. Financial Planning, 48(1), 15-16.

Daks, Martin. “Getting a career boost from Executive Education.” Njbiz, vol. 31, no. 2, 08 Jan. 2018, p. 18. EBSCOhost, search.ebscohost.com/login.aspx?direct=true&db=bwh&AN=127295007&site=ehost-live.

Groysberg, Boris, et al. ”Executive Summaries.” Harvard Business Review, vol. 96, no. 1, Jan/Feb2018, pp. 154-157. EBSCOhost, search.ebscohost.com/login.aspx?direct=true&db=buh&AN=126920545&site=ehost-live.

Largest Indianapolis-Area Financial Planning Firms. Indianapolis Business Journal, 12 Jan. 2018, p. 18. EBSCOhost, search.ebscohost.com/login.aspx?direct=true&db=bwh&AN=127321044&site=ehost-live.

Susca, Peter T. Increasing Your Organizational Value. Professional Safety, vol. 63, no. 2, Feb. 2018, pp. 56-58. EBSCOhost, search.ebscohost.com/login.aspx?direct=true&db=buh&AN=127648303&site=ehost-live.

Top Universities. Top Universities Course Guides: Business & Management Degree. 2018 Retrieved from https://www.topuniversities.com/courses/business-management/guide