Top Paying Business School Careers: Hospitality & Travel
Pursuing an MBA concentration in hospitality and travel can lead you down an exciting career path in a popular industry. In the United States, travel and tourism accounts for roughly $1.1 trillion in annual GDP and over five million jobs.
Continue reading…MBA Jobs: Accounting Manager
If there is one thing that unites all businesses, whether they are Etsy storefronts or multinational conglomerates, it’s that everyone needs to know how much money it has coming in and where it is going. At large companies and firms, this responsibility falls onto accounting managers. If you are someone with an eye for detail who knows their way around a budget, you might be an excellent fit for this job.
What Is an Accounting Manager?
The accounting manager is, largely, the head of a company’s accounting department. With the assistance of a small staff, the accounting manager keeps track of an organization’s finances and makes sure that the organization is following all necessary financial laws.
Accounting managers prepare reports for executives, letting them know where they are in relationship to their monthly, quarterly, and annual goals. Accounting managers also help to forecast the company’s financial future.
The following represent a few key responsibilities of accounting managers:
- Conducting audits
- Planning annual budgets
- Evaluating financial data
- Defining accounting policies
- Establishing financial standards
Accounting Manager Salaries
According to Glassdoor data, the average annual pay for an accounting manager is $88,160. Accounting managers can also earn an average of $8,426 in cash compensation. Compensation can range from $2,120 to $23,206, depending on the company, background, and academic experience. This generally translates to higher salaries for MBA grads.
For instance, accounting managers at EY (Ernst & Young) will likely earn over $100,000 on average, according to PayScale data.
Where Do You Start?
Candidates for accounting manager positions must have at least a BA/BS in Accounting or Finance. Most positions require candidates to be licensed Certified Public Accountants, or CPAs. This is not an entry-level position; businesses generally expect candidates to have had some previous supervisory experience.
Given the nature of this position, ideal candidates are ethical and able to think critically. Small errors can cost either a client or a firm a considerable amount of money, so it is essential that accounting managers are thorough in their work, always ensuring that their records are accurate and complete.
In addition to the technical skills, accounting managers need to have excellent written and interpersonal skills, because they are required to manage staff, which entails interactions with a wide variety of people.
One way to gain the skills needed for this position is to get a MBA from a top-notch program. We’ve outlined three programs, which provide the skills needed to be a successful Accounting Manager that stands out from the pack.
University of Texas’s McCombs School of Business
The McCombs School of Business at the University of Texas at Austin is home to one of the country’s finest accounting programs. Students can gain considerable accounting knowledge while expanding their management abilities. They will be able to do this while living in Austin, one of the country’s most livable cities.
University of Illinois – Urbana-Champaign’s Gies College of Business
Students in the Gies College of Business at the University of Illinois can develop their financial skills in the college’s flexible MBA program. The training will prepare graduates to take on the role of accounting manager at firms of any size.
Brigham Young University’s Marriott School
Among the top business schools in the United States, the Marriott School at Brigham Young University does not get its fair share of attention, which is unfortunate as it is home to one of the country’s top accounting programs. MBA students can go on the Finance track, which will prepare them for their futures as accounting managers.
Return on Investment: Getting Your Money’s Worth in Washington DC
Earning an MBA is a big commitment in terms of both time and financial resources. Attending school in Washington, D.C. will open students up to a wealth of job and internship opportunities. However, with the cost of living and education in the financial capitals of the US rising at an alarming rate, choosing a school that will leave you with the smallest debt for the best job prospects is paramount to not being saddled with debt for the next 30 years of your life.
Though a price can’t be put on the value of the stellar education and business acumen you’re sure to get in business school, we can certainly try. Below, we’ve worked out the schools that guarantee the best return on investment in Washington DC metro.
Washington DC MBAs That Offer the Best Return on Investment
University of Maryland R.H. Smith School of Business
At the University of Maryland’s R.H. Smith School of Business, students can earn their degree just eight miles from the White House. Tuition at UMD Smith comes to about $47,004 for in-state residents per year and $56,184 for those from out-of-state. Though the business school’s MBA program may not be considered “cheap,” the average starting salary for MBA’s from the class of 2016 was $95,600—nearly double the annual tuition cost for both in and out-of-state students. This incredibly high average starting salary makes Smith well worth the price. In the past, Smith alumni have landed internships and full-time positions at companies like Amazon, Marriott, and Google. Thus far, majority of Smith MBA grads have gone on to pursue careers in marketing or consulting.
According to the recently released Forbes list of the best MBA programs in the U.S., UMD Smith (46th overall) MBA grads now expect a net-gain of $45,000 five years after graduation, when taking into account the average salary increase, cost of the program, and more.
Perdue School of Business—Salisbury University
Though it is closer to Baltimore than DC, Perdue School of Business MBA students are sure to see a significant return on investment for their education. The tuition is only about about $11,760 for in-state residents and $23,850 for out-of-state applicants. Not to mention the average alumni salary is $56,500, which essentially means the average alum sees a significant return on investment in less than a year. The year-long program is delivered in a hybrid format, so students only need to meet on campus one night per week. Students looking for even greater flexibility can also choose to take 100 percent of courses online. Additionally, students who wish to move at a slower pace can take classes part time and choose their own schedules.
Howard University School of Business
The Howard University School of Business MBA program was the first DC university to earn AACSB International accreditation. Annual tuition for the full-time MBA program per year is a reported $33,996. The total for the two-year program comes to around $70,968. Considering U.S. News puts the average MBA starting salary at $91,084, the return on investment is undeniable. Howard also offers a variety of dual degree programs, including JD/MBA, MD/MBA, BSE/MBA, and more. One unique feature of Howard is its Global Trilateral MBA (GTMBA), which gives students international consulting experience in places like China and South Africa.
The Week Ahead at the 2017 NBMBAA Conference in Philadelphia
Tuesday, September 26, marked the first day of the annual National Black MBA Association (NBMBAA) annual Conference & Exposition, held at the Philadelphia Convention Center. The five-day event, stretching to Saturday, Sep. 30, brings together entrepreneurs, business leaders, students, and other seasoned professionals into an immense, collaborative atmosphere that helps introduce next-level vision to the business world.
The center-piece of the event is the two-day Career Exposition. Touted as the “largest diversity career fair in the country” by the NBMBAA, the event brings together over 300 companies, government entities, nonprofits, and more brings together on-site stations and active recruitment, helping attendees potentially earn new employment. Well-established companies like Coca-Cola and Johnson & Johnson have previously attended the Career Exposition.
An inside look last year’s NBMBAA Career Exposition.
The conference is also highlighted by several notable guest speakers, including former CNN and Today Show personality Tamron Hall, celebrated sports journalist Kevin Blackistone, political strategist Symone Sanders, popular actress Tia Dashon Mowry-Hardrict, and many more.
Beyond the Career Exposition and illuminating figures attending, the five-day event is packed with almost too many world-class events to keep track of: from the Scale-Up Pitch Challenge that features $65,000 in cash prizes, to the first ever higher education exposition, and the black tie Impact Awards Dinner, which will feature the aforementioned Tamron Hall, Girls Trip star Larenz Tate, as well as local Philly icon D.J. Jazzy Jeff.
Over the next several days, the conference will also host countless industry discussion panels, with topics like: International Business: Doing Business in Africa—Entrepreneurship Meets Social Investment; Entrepreneurship: Taking the Franchise Route; Education & Workforce Development: Coalition Building—The Power of Partnership; Marriott Ownership Session: Investment and Ownership Opportunities in the Hotel Industry; Financial Prosperity: How to Retire by 40, and much more.
For information on the event, including schedule, registration opportunities, and more, head to the official National Black MBA Association website. Official NBMBAA members will receive a discount if they wish to attend the Philadelphia event.
Sustainability Lunch and Learn: Marriott Exec Talks With Smith School MBAs
On September 29th, Robert H. Smith School of Business MBA students had a chance to meet with Denise Naguib, Marriott’s vice president of sustainability and supplier diversity, as a part of the Center for Social Value Creation’s (CSVC) Sustainability Lunch and Learn series. Naguib discussed her role in the hotel industry’s sustainability effort. Continue reading…
