All business-related careers require a mix of strong networking, communication, and analytical skills, but here I will break down various careers within the rather broad field of business so you can see where your strengths match up.
Investment Banking: Are you a disciplined quantitative thinker who loves crunching numbers? Do you not mind spending lots of time invested in the job and enjoy staying in the same city, not leaving the office too often? Investment bankers are committed workers who help companies and governments obtain capital financing. They are in charge of creating financial models that depict the costs and benefits or mergers and acquisitions, as well as managing the various stages throughout a complex financial transaction. This career path’s alluring high salaries and ability to break into right after undergrad appeals to many number-oriented thinkers interested in finance.
Management Consulting: Do you enjoy traveling, writing, talking to others, problem-solving, and advising on operational and strategic issues? Management consultants operate usually on a case-to-case basis to help companies become more efficient. They must possess a good ability to work with people and be able to think critically and flexibly. Being a strong persuasive writer is a definite plus to this career path. Consultants tend to excel in a diverse range of skills unlike investment bankers, who become experts in a set of functionally specialized skills.
Marketing: Would you consider yourself a creative individual interested in the intersection of human psychology and digital art? Are you curious how our decisions can drive, persuade, and influence consumer behavior? Marketers are effective, adaptable communicators who often interpret large sets of data to make informed decisions on marketing strategies. They are very much sales-minded and focused on the end goal of increasing a client’s likelihood of purchasing a product.
Private Equity: Many investment bankers dream of eventually progressing and breaking into private equity, known as the “buy side,” where analysts are highly detail oriented, polished, and ambitious. Not to be confused with venture capital, private equity is making a large investment into developed companies during their later stages. Private equity involves less risk than venture capital and spans across all industries, from most established to most new.
Venture Capital: Like the sharks on Shark Tank, are you good at spotting fresh concepts and new trends before they take off and let’s say… “capitalizing” upon them? Do you possess a solid economics background and a desire to work in an evolving, high-growth industry like tech or healthcare? Well then, venture capital is making a small investment, usually during the initial stages of a company’s development, in return for a long-term equity (ie: part-ownership) respective to however much the startup grows. Keep in mind that not everyone can immediately fund new entrepreneurs; it takes years of breaking into the industry, perhaps through transferring from investment banking and business schools.
Entrepreneurship: Are you starstruck by the work of great entrepreneurs like Thomas Edison, Steve Jobs, Walt Disney, and Charles Schwab? Do you like to brainstorm new ideas or practice design thinking in any way? Entrepreneurs are decisive, motivated risk-takers with boundless energy and versatility. They are creative self-starters with the drive to get up early in the morning to try out a new idea. If what I’m talking about sounds like something that piques your interest, I’d recommend taking some human-centered design courses or perhaps even complete the full minor to explore further.
by Sydney Wuu (Co-Media & Branding Chair 21S & 21F)