Business

Where you will go a as a business professional depends largely on the specialty you choose and over time, how you expand your skillset, via experience, further learning or extra qualifications.

Most business graduates start with routine work and gain more responsibility as they gain experience. Careers can advance within the different departments of a business, company or corporation. Or you may have a great idea for a product or service and decide to start your own business.


More about business professionals. What do they do?

Right now, business professionals work in these areas and roles:
Hint: For an alphabetical listing of all business roles go to glossary-business.

Accounting

Accountanting professionals are extremely important in an organisation's business decision making process. They may also operate in an international environment, dealing with complex global markets and reporting requirements.

Accountanting professionals may work within a business or large organisation, or for themselves, offering professional services to individuals and small businesses in relation to their business, budgeting or personal accounting requirements. There are many roles an accounting professional may perform, often with two or more combined in their job depending on the size of their employer organisation.

Roles in this area of Business include:
(for more detail, follow the links to their glossary entry)

Go to Building skills for tips and hints about building the skills you need in this area of Business.

Economics

Economics is the study of how people choose to use the resources available in an economy. Resources include land, buildings as well as the time and talent that people have available. There are many tasks an economics professional performs, whether they work in the government, education, research or financial services sector. These include: research; data and statistics analysis; data interpretation and technical report writing,  often with two or more combined in their  role depending on the size of their employer organisation.

Roles in this area of Business include:
(for more detail, follow the links to their glossary entry)

Go to Building skills for tips and hints about building the skills you need in this area of Business.

Finance

Finance focuses on decision-making processes for individuals and managers under conditions of risk and uncertainty. It addresses investment, financing and payout decisions of a firm, the effects of interest rates and risk on the pricing of assets and liabilities, as well as the structure and the operations of financial markets and institutions.

Roles in this area of Business include:
(for more detail, follow the links to their glossary entry)

Go to Building skills for tips and hints about building the skills you need in this area of Business.

International Business

International business uses the skills you have learnt through a commerce or business degree in the international arena. This includes commercial transactions that may take place between two or more regions, countries or nations beyond their political boundaries.

Jobs in International Business can be found in private firms, government (either for profit or political purposes) and the not for profit sector, and involve cross-border transactions involving goods, service or people.

For a country like Australia where international trade is so important, knowledge of how business is carried out internationally – and how to navigate the pitfalls – is essential.

Roles in this area of Business include:
(for more detail, follow the links to their glossary entry)

Go to Building skills for tips and hints about building the skills you need in this area of Business.

Management

Management is not simply about bossing people around. It is actually the coordination of the efforts of people to accomplish the organisation's goals and objectives. This is done by the efficient allocation of available resources. Their activities may involve planning, organising and recruiting, decision making and reporting to the business owner, Boards of Directors or regulatory authorities. Managers lead and control the human, financial, technological and natural resources that are available to the organisation.

Roles in this area of Business include:
(for more detail, follow the links to their glossary entry)

Go to Building skills for tips and hints about building the skills you need in this area of Business.

Marketing

Marketing consists of creating, delivering and communicating an organisation’s ideas to customers or clients. These ideas could be about products or services that offer value to the organisation. During the marketing process the design, distribution, promotion and pricing of products is taken into account based on the needs of customers (target market).

Roles in this area of Business include:
(for more detail, follow the links to their glossary entry)

Go to Building skills for tips and hints about building the skills you need in this area of Business.

Business professionals and students tell their own stories

View videos and read first-hand accounts from university business graduates about their experiences in their chosen field at Professional profiles...

View videos and read profiles of students telling their own stories about overcoming barriers to study at uni. Hear what motivated them to choose their area of study and what they are experiencing at uni at Student stories...

How much can I earn?

The lifetime earnings/ wage gap, between people who graduate from university and those who don't, is significant. Different research measures estimate the higher lifetime earnings by graduates at anywhere from 30% to 75% greater than school leavers1.

Average weekly earnings before tax (2015 data) for business professions range from $1,346 (Human Resources Professional) to $2,082 (Economist)2. Check out the Business profession snapshot infographic below, for earnings data in other areas of Business.  

In 2015, the median starting salary for university business graduates (Bachelor, newly qualified, under 25) was $50k (Accounting); $50k (Business); and $50k (Economics)3.

Between 2011 and 2014, the median salary for all graduates in the broad field of management and commerce rose from $50k to $70k4.

Footnotes:
1. ABC News Fact Check - see http://www.abc.net.au/news/2014-05-29/pyne- graduate-earnings-and-unemployment-claim-overblown/5446462
2. ABS Characteristics of Employment Survey.
3. Graduate careers Australia - www.graduatecareers.com.au - Graduate Salaries Report 2015.
4. (source: Graduate Careers Australia. www.graduatecareers.com.au - Beyond Graduation Survey, 2014 - Table 11; latest available data).


Useful links

LEAP Partner Universities -  from here, you can follow links to our partner universities' LEAP landing pages, for direct access to info about each university, their courses, scholarships, student support services, pathways options and other useful information.

Chartered Accountants Australia and New Zealand has a section for High School students, with a range of info about the profession, events, scholarships, cadetships, study tips, competitions and the opportunity to join as a student affiliate, which gives you "access to high profile events with Australia's top employers, practical career advice and information on upcoming job opportunities" and more...

Students - Beyond School has lots relevant information about the world of work, work experience, career planning, pathways and development, and occupations for secondary school students. (Victorian Government site)

Study Assist helps school students and their families understand what support they are eligible for if pursuing higher education, based on a range of study options available to them. (Australian Government site)

My Future has a guide to career development, to education beyond Year 12, videos by professionals and interactive career quizzes. My Future also has a new myfuture forum, a tool allowing you to talk to people working in a range of industries. (Australian Government site)

Bullseye posters - School subjects you like and jobs they can lead to. (Australian Government site)

Job Outlook is a careers and labour market research information site to help individuals decide on their future career. (Australian Government site)

My Skills - Online information about vocational education and training options. (Australian Government site)

Good Universities Guide - Online careers guide.

Start building your skills now

If you think a career in business is for you, why not start planning how to get there? Go to Building skills to see what you can do right now to get going. Then remember to review your Career Action Plan with your teacher or careers teacher.

Get in touch

To enquire about LEAP activities for your school
please contact one of LEAP's participating Universities

Contact