Online Degrees - No M.B.A. Required
1 year, 5 months ago10 hot business careers without b-school
By Tamar Snyder
M.B.A. doesn't stand for "Money Boost Assured." Sure, the degree can help you land a higher-salaried job -- but it may pay to think outside of the M.B.A. box. Depending on the type of business career you're interested in, the degree may do little to help you succeed.
According to some experts, the popular business school diploma can even impede success in certain cases. Their contention: Weigh all options before plunking down close to $200,000 and committing two years of your life to pursuing an M.B.A.
M.B.A. degrees "are crutches," said Penelope Trunk, author of "Brazen Careerist: The New Rules for Success." "The more you move around outside of the Fortune 500, the less you need an M.B.A. And the more you specialize, the less you need an M.B.A.," she said, adding that an M.B.A. is most useful to a generalist.
Here's an overview of hot business careers that don't necessitate an M.B.A. in order for you to get ahead:
1. Insurance broker Not afraid of cold-calling? Then consider a career selling insurance. Insurance agents and brokers protect clients' health, property and lives by selling insurance to individuals and corporations, and helping them choose the policy best suited to them.
Agents typically represent just one insurance company, whereas independent brokers shop around, offering policies from various providers. For those with impressive interpersonal skills and a good sales ability, this can be an apt career choice.
To become an insurance agent or broker, you'll need to obtain a license in the state in which you plan on working. Most insurance agencies look for college graduates with a degree in business or economics, but some will hire the exceptional high school graduate.
Agents typically work a flexible 40-hour work week, but there are some who put in 60 hours a week or more. A large number of baby boomer-aged brokers are expected to retire during the next decade, so demand for insurance agents is sure to grow.
The median salary for insurance sales agents was $41,720 in 2004, according to the U.S. Bureau of Labor Statistics. Many agents are paid solely on a commission basis, which can increase a high-achieving agent's salary considerably.
2. Financial adviser
Do you know the ins and outs of 401(k)'s and Roth IRAs, and enjoy helping others better manage their money? Then a career as a financial adviser may be the best path for you. Financial analysts and personal finance advisers guide businesses and individuals on how to best invest their money.
Analysts determine the value of various companies to help banks, insurance companies and pension plans decide whether or not to invest in them.
Personal financial advisers, also known as financial planners, recommend investments to individuals based upon tax laws and an understanding of the client's short-term and long-term goals. They help people fund college tuition, plan for retirement and manage their estates. Four out of 10 financial advisers are self-employed, and therefore rely heavily on referrals from existing clients.
For a career in financial planning, advisers are best off working for a broker-dealer to gain experience to pass licensing exams. In most cases, certification credentials such as the certified financial analyst (CFA) and certified financial planner (CFP) are more relevant than an M.B.A.
Finding a test-prep course for CFP and CFA certification exams isn't difficult. There are both classroom-based and online options, with course length varying and cost ranging from roughly $1,000 to $4,000.
Overall employment for both financial analysts and advisers is expected to increase at faster than the average for all occupations through 2014, according to the BLS. In 2004, the median salary for financial analysts was $61,910 and $62,700 for personal financial advisers.
3. Event planner
Think life is just one big party? If you also have organizational skills and creativity as well as a sparkling personality, consider becoming a party planner.
Event planners, as they are sometimes called, are in charge of making sure that corporate events, receptions and private parties (weddings, mitzvahs) take place without a hitch.
Attention to detail is a must: Party planners are in charge of everything from choosing a venue and ordering food to proofing invitations and making travel arrangements. Event planners attend events to make sure they go smoothly, necessitating lots of evening and weekend work.
Event-planning companies give less glamorous assignments to new hires so they can learn the ins and outs of the business. In this case, according to Nicholas Aretakis, author of No More Ramen: The 20-Something's Real World Survival Guide, an M.B.A might limit a candidate.
"To be promoted, it's more important that you have the experience, rather than earning an M.B.A. in marketing," said Aretakis.
Many schools offer certificate courses in meeting and event planning, which include classes in food and beverage planning, site selection and program budgeting.
While they sometimes earn a flat fee of a few thousand dollars per event, many party planners typically begin working at an hourly rate, ranging from $20 to $40. The more complex the event (think of a post-Oscar party!), the more money a planner can command.
4. Public relations professional
Are you what "The Tipping Point" author Malcolm Gladwell termed a "connecter" -- someone who knows everybody and for whom networking comes naturally? Then a career in public relations may be in your future.
PR professionals draft press releases, organize events and contact media to obtain coverage for the organizations and products they represent. They tend to be creative, resourceful and have superb communication skills.
Be aware: PR associates often work irregular schedules, and unpaid overtime is common. Although there is no specific educational requirement necessary to break into PR, taking on internships in the field during your undergraduate studies is often the surest way to securing a job.
The median salary for a public relations specialist was $43,830 according to the 2004 BLS, although experienced PR workers can earn upward of $81,000.
After five years of experience in this field, accreditation from the Public Relations Society of America is often recommended.
5. Advertising account executive
Obsessed with the TV show "Mad Men"? Though times have changed, advertising is still a thriving career for those with the energy, creativity and drive to put in long hours.
Advertising account executives work for ad agencies and typically hold a bachelor's degree in a related field, such as communications or marketing. They devise ad campaigns for clients -- from large corporations to start-ups and small businesses -- and help coordinate the efforts of copywriters and art and marketing departments.
Travel is part and parcel of most ad jobs, as is an expense account. The median salary for advertising account executives is $40,300, according to the BLS. Typically, ad executives handle three to four noncompeting accounts at a time.
6. Real estate agent
Though the housing bubble may have burst, the market will never go away and there are always buyers looking for new homes. Real estate brokers employ sales agents to sell or rent property. Brokers charge a fee, while sales agents earn a commission.
To become successful in real estate, a high school diploma often suffices, along with the completion of 60 to 90 hours of training to obtain a license by passing a written exam. More important than education are people skills and the ability to obtain new listings, generally through word of mouth.
Many real estate agents set their own hours, accommodating prospective buyers by conducting night and weekend tours. The BLS reports that the median annual income for real estate agents in 2004 was $35,670.
7. Web designer
This profession remains in high demand. Web designers work with companies of all sizes to design and sometimes maintain Web sites that effectively and easily enable online commerce and convey corporate missions, contact information, latest news and more.
A successful Web designer is well versed in HTML and XML and proficient using computer graphics programs such as Dreamweaver, Photoshop, Illustrator and Flash, which are often taught in 6- to 12-month certificate programs.
As the field becomes more competitive and the technology more complex, it's best to get formal Web design training and keep your knowledge up to date. Web designers must also stay current with the latest technological trends.
While freelancers can work out of a home office, Web designers must be especially attentive to deadlines and prepared to make last-minute changes. The average salary is $59,894 per year.
8. Marketing analyst
A marketing analyst is responsible for determining the potential sales that can be generated by a product or service. He or she collects and analyzes data to evaluate how the product compares with similar items manufactured by competitors.
A bachelor's degree in economics or marketing may help a job applicant get an entry-level position as a research assistant, administrative or management trainee, marketing interviewer or professional salesperson. These jobs are often the stepping stone to becoming a marketing analyst. The average salary in this field is $43,457.
9. Search engine optimization pro
Professionals in this field help increase traffic to Web sites by making adjustments that help the sites rank higher on search results. There are currently more jobs than skilled marketers available to fill them. Salary starts close to $40,000, but a proven marketer can earn in the low to mid six figures.
"When it comes to search engine optimization -- a very new field -- degrees are secondary to proven experience," said Amanda Vega, owner of Amanda Vega Consulting. Vega holds an M.B.A. from Columbia University but said education was a personal goal, and not merely a means of making more money.
"You gain advancement both in title and salary through hard work and experience." Tutor-led online courses can provide the background and skills necessary to begin a career in search engine optimization, no matter your undergrad major.
10. Sales representative
Are you persuasive? If you enjoy interacting with people and aren't easily discouraged, sales may be the career path for you. Sales representatives travel extensively, convincing retail and wholesale clients to purchase their product or service.
Entertaining prospective clients and winning new business is crucial to success. Although a bachelor's degree is preferred, most companies provide extensive training for beginning sales representatives. Including commissions, the median salary for sales reps is $58,580, according to the BLS.
"Most sales positions don't require an M.B.A., as it's more important to gain an understanding of the particular industry, technology, products and competitive landscape," said Aretakis.
