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Financial Jobs: A Good Career Move?

April 20, 2011 / Michelle Burton

Financial Jobs

Financial professionals are needed now more than ever before. Companies need help with trimming the fat in order to stay afloat through these tough times, they need help uncovering fraud and other illegal practices that are on the rise, and new companies need financial professionals to help put them on the right path to financial success. Companies, businesses, and even individuals use financial professionals of all kinds today. They are called upon so often that the industry is expected to grow 8-20 percent by 2018. Some of the different types of financial jobs include:

-Accountant
-Auditor
-Cash Manager
-Comptroller
-Credit Manager
-Economist
-Forensic Accountant
-Fundraiser
-Investment Banker
-Options Trader
-Risk Manager
-Stockbroker
-Treasurer
-Underwriter
-Urban Planner

According to the Bureau of Labor Statistics (bls.gov), some of the top industries for financial professionals are securities and commodity contracts intermediation and brokerage, management of companies and enterprises, insurance carriers, local government, and depository credit intermediation. Financial professionals working in these industries earn an average of $77,280-$134,940 annually and other industries are not too far behind on the pay scale.

Entry-level financial professionals start at around $50,290 per year. The mid-range salary is $90,970 per year and the highest average salary, which is usually reserved for management professionals, is around $145,600 per year. Some may make more depending on the size of the company, bonuses, and other benefits.

How to Get a Financial Job

If you’re interested in one of the many financial jobs mentioned above, you should consider earning a bachelor’s degree in finance, business administration, accounting, or economics. A bachelor’s degree is a great start, but many companies prefer a master’s degree in finance, accounting or other related field or an MBA with a focus in finance, accounting, or economics. Not only are advanced degree holder’s recruited more often than bachelor’s degree holder’s, they usually have more advancement opportunities and greater earning power.

While an advanced degree is important, experience is important as well. While in school, you should take advantage of your institutions internship program. This will help you land your first job (even if it’s entry-level), which can help prepare you for higher profile jobs with more responsibility and better pay.

Finding the Best Financial Degree Programs

College directories and college ranking websites are an invaluable tool for degree seekers. U.S. News & World Report publishes a “best of” list of colleges and Princetonreview.com publishes rankings for all colleges and degree programs. College directories such as Petersons.com offer plenty of listings and reviews as well.

If you prefer to search for a program on your own, just make sure the college (whether online or traditional) is accredited by an agency approved by the U.S. Department of Education. Some of the top accrediting agencies are:

-The Association to Advance Collegiate Schools of Business (AACSB)
-The Association of Collegiate Business Schools and Programs (ACBSP)
-The Council for Higher Education Accreditation (CHEA)
-The Distance Education and Training Council (DETC)
-Middle States Association of Colleges and Schools
-New England Association of Schools and Colleges
-North Central Association of Colleges and Schools
-Northwest Commission on Colleges and Universities
-Southern Association of Colleges and Schools
-Western Association of Schools and Colleges

To make sure the college of your choice is accredited, visit the U.S. Department of Education at Ed.gov. The site has a searchable database of accredited postsecondary institutions and programs. And yes, it’s free.

Your Career, Your Compensation

How to become a lingerie model

April 18, 2011 / Staff

With the sluggish job market, people are considering all sorts of interesting career options. Yet the idea of becoming a lingerie model has always had appeal for many women. For many, it’s a glamorous career and it can do wonders for one’s self image.

This video has some helpful advice on how to become a lingerie model. The focus is on working for lingerie retailers, like Victoria’s Secret or Frederick’s of Hollywood. Yet there are many other options for lingerie models, particularly glamour modeling. Companies like Maxim and Bullz-Eye feature beautiful models in lingerie and bikinis.

One fact that some might not understand is that you don’t need to be tall to be a lingerie model or a glamour model. Victoria’s Secret is an obvious exception, as they primarily hire fashion models for their shoots, as does Sports Illustrated. Instead, it’s more important to have an hourglass figure and an ample cup size to succeed in this area. Also, there’s very little runway work in this area – that’s for the fashion models. If you’re interested in this field, you should probably avoid tattoos as well.

Listen to the video and learn more about becoming a model.

Your Career

Leadership Development Degree Careers

April 18, 2011 / Michelle Burton

Leadership Development Career

A leadership development degree (MBA) can prepare you for a variety of management careers. The curriculum for this degree is designed to help you develop decision-making skills conflict and management skills, and of course, leadership skills. Common career paths include:

Project Management
Human Resources Management
Financial Management
Non-Profit Management
Management Consulting

Project managers are responsible for assembling and managing teams assigned to a specific project. They also plan and organize projects.

Human resource managers manage employee pay and benefits, development and training, hiring, and employee relations.

Financial managers handle accounting, financial analysis, investment portfolios, and financial reports. They are also responsible for financial legislation and regulation, and cash management of companies.

Non-profit managers manage the operations and development of non-profit organizations. They might work for an environmental agency, human rights organizations, health care facilities, and many others.

Management consultants help companies by providing advice and expertise aimed at improving business performance, maximizing growth, and creating value. They work for human resource departments, information technology firms, marketing firms, supply-chain firms, and many others.

In addition to a variety of job options, leadership development graduates can look forward to job growth and stability. Depending on the position, job growth is expected to average from 8-20 percent between now and 2018. Entry-level leadership development professionals earn around $50,000-$60,000 per year. MBA holders with experience can expect to earn from $92,390-$128,330+ per year.

An MBA with a focus in leadership development is the way to go if you want to work at a top firm. Although it is not required for entry into the field, many employers prefer an MBA. Nearly 30 percent of all professionals in this field hold an MBA, while nearly 40 percent hold a bachelor’s degree. Bachelor’s degree holders usually start out it entry-level or assistant positions.

Earning Your Leadership Development Degree

To earn an MBA with a focus in leadership development, you will have to enroll in a program at an accredited college or university. The following accrediting agencies are recognized by the U.S. Department of Education:

The Association to Advance Collegiate Schools of Business (AACSB)
The Association of Collegiate Business Schools and Programs (ACBSP)
The Council for Higher Education Accreditation (CHEA)
The Distance Education and Training Council (DETC)

The following recognized agencies offer regional accreditation:

Middle States Association of Colleges and Schools
New England Association of Schools and Colleges
North Central Association of Colleges and Schools
Northwest Commission on Colleges and Universities
Southern Association of Colleges and Schools
Western Association of Schools and Colleges

To find the best programs, try searching though college directories such as Petersons.com, Princetonreview.com or U.S. News & World Report’s Best Colleges.

Your Career, Your Compensation, Your Education

When Should You Hire a Tax Accountant?

April 14, 2011 / Michelle Burton

Mistake on Taxes

If you’re single with a regular job and you have few to no assets, using a tax software program like TurboTax or H&R Block At Home is probably the best way to prepare taxes. You can even prepare them yourself without the help of a tax software program if you have the time. On the other hand, if you have a business (small or large), assets such as real estate, dependents, investments, loans, and you make donations often, then you should consider hirin a tax accountant.

Tax accountants provide services to corporations and individuals. They complete complex tax returns, offer tax advice, and assess tax liability. A tax accountant can also help businesses figure out the best regions to set up shop in order to minimize tax liabilities, and they can even help choose certain products that can help businesses or individuals save money on taxes. Most tax accountants are certified public accountants (CPAs), so they are well versed in all state and federal tax laws.

When hiring a tax accountant, it is important to know the difference between a tax preparer and tax accountant. A tax preparer, such as an employee at an H&R Block, has taken income tax preparation courses and completed training through H&R Block. They are not licensed accountants and they don’t need a degree in accounting to work at H&R Block. Tax accountants, specifically CPAs, must satisfy a number of state requirements to sit for the CPA licensing exam. One major requirement is a degree in accounting from an accredited college or university.

Each state’s requirements vary slightly but in general, most state boards require no less than 150 semester credits with a specified number of accounting courses and business courses. To give you an idea of the level of difficulty of accredited accounting programs, less than half of the students accepted into a bachelor’s degree program in accounting will graduate.

Tax Accountant

So, the first thing to look for when hiring a tax accountant is a CPA license. It is illegal for anyone to use the CPA designation without a valid license. This means, if a tax accountant says he’s a CPA, he’s probably telling the truth. You can also verify whether a license is valid or not by doing a license lookup through your state board of accountancy website. You can locate your state board of accountancy by visiting the New York State Society of CPAs (NYSSCPA). Just scroll through the directory find your state.

The next thing to consider is how long a tax accountant has been in business. Someone who has been preparing tax returns for several years is your best bet. The next thing to consider is whether the tax accountant will represent you before the IRS. A worthy tax accountant will defend your return if you are audited. A tax accountant that answers “no” is probably not the best choice.

To locate a tax accountant, try finding one through a referral first. There’s nothing better than a friend or family member that has firsthand experience with a potential tax accountant. If you can’t find a referral, try your local telephone directory. Call up to five accountants and interview each one. Most professional CPAs will set up a free consultation without hesitation. If they don’t, then it’s probably safe to cross them off your list.

Your Business

What are the Best Careers in Biology?

April 12, 2011 / Michelle Burton

Biologist

A degree in biology or biological sciences can lead to a career in the health care industry, allied health, the environmental industry, animal care & research, plant biology, education, government, mathematics, engineering, the legal field, and the art industry. Some of the best positions in each industry include:

·Health Care: Physician, Podiatrist, Dentist, Optometrist, Podiatrist

·Allied Health: Registered Nurse, Pharmacist, Occupational Therapist, Physical Therapist, Speech Therapist

·Environmental: Agricultural Scientist, Conservation Biologist, Environmental Scientist, Forest Ranger

·Animal Care & Research: Gamekeeper, Marine Biologist, Marine Mammal Trainer, Zookeeper

·Plant Biology: Botanist, Ethnobotanist, Horticulturalist, Landscaper

·Education: Professor, Biology Teacher

·Government: City or Community Health Official, Bioterrorism Expert, National Health Professional (FDA, CDC)

·Math/Engineering: Bioinformatics, Biomechanical Engineer, Epidemiologist, Biometrician/Statistician, Nanotechnologist, Medical Physics

·Legal: Forensics & Criminal Investigator, Biotechnology Patent Lawyer

·Art: Medical Illustration, Bio-Animation and Films, Molecular Visualization

These are not the only career fields for biology degree holders. With a bachelor’s degree in biology or biological sciences, you can also become a bioethicist, clinical lab scientist, dietician, drug testing/quality control expert, food safety expert, genetic counseling, pharmaceutical researcher, pharmacist’s assistant or zymurgist (beer/winemaker).

Most biology degree careers pay extremely well. In fact, many of them pay well over the national average. The average American earns $46,326 per year and dual earner households average $67,348. Biomechanical engineer, for example, earn $74,920-$114,740 per year and botanists average $72,792 per year.

If you’re interested in a career in biology, you should enroll in a biology degree program at an accredited university. The accrediting agency must be recognized by the Department of Education, so visit U.S. Department of Education Database of Accredited Postsecondary Institutions and Programs for listings.

According to the Bureau of Labor Statistics:

A Ph.D. is usually necessary for independent research, particularly in academia, as well as for advancement to administrative positions. A bachelor’s or master’s degree is sufficient for some jobs in applied research, product development, management, or inspection; it also may be sufficient to work as a research technician or a teacher. Many with a bachelor’s degree in biology enter medical, dental, veterinary, or other health profession schools, or find jobs as high school science teachers.

If you’re considering an Ph.D., your program will consist of classroom and fieldwork, laboratory research, and a thesis or dissertation. This requires 5-6 years of full-time study. For master’s degrees, two years of intense study is required. Undergraduate biology degree programs require courses in chemistry and biology, mathematics, physics, engineering, and computer science.

For more information about biology degree careers, visit the Bureau of Labor Statistics at www.bls.gov.

Your Career, Your Education