Career Plan in Marketing and Financial Consultancy

Student’s Name Professor’s Name Course Date Career Plan in Marketing and Financial Consultancy Even though the future remains unpredictable, one cannot capitalize on this unpredictability and wait for things to work out. Throughout my life, I have had an ambition of working in an environment that promotes my growth while at the same time changing the community around. I like spending time with my parents and when I get a family, I do not want to work in a field that distances me from my family. I want to stay close to my children, help them do their assignments after school, and take them to an evening walk. I know that it is difficult to find the career that fits my expectations, but I have decided to research some of my career ambitions. My first choice is to become a marketing manager controlling my firm. The second choice is to become a financial consultant. My choice of these careers is based on salaries they offer, but I am interested in evaluating them to determine whether they meet my other expectations such as work/life balance and personal growth. Career planning is an on-going practice, considering that people many people change their careers due to changes in interests and preferences. I intend to complete my studies in the next ten years and enter the job market. Once in the occupational field, I will seek employment in the career that meets my expectations and qualifications. However, I will first work as an intern in one of the companies related to marketing and financial consultancy firms. The goal of spending time in internship is to develop job-related skills as I prepare for full-time employment. According to Effron, many employees change their careers after they realize that their current job does not meet their interests. The reason I am writing this paper is to reflect on my career path, evaluate its applicability on my interests and passion, and identify the areas I need to focus on during my studies. This paper provides an insight into my career interests and compares these interests to what the two careers above. Marketing Manager Companies are facing significant competition today, creating a need for strong marketing strategies. The need for marketing managers has been increasing significantly as firms fight global competition. In this section, I evaluate this career to determine if it meets my goals and ambitions. According to Lisa, marketing managers develop strategies that enable companies to make informed decisions to remain competitive in the market. In today’s global competition, the role of marketing managers spans geographical boundaries. Since I am interesting in traveling around the world helping businesses operating at the global level, I thing that this career meets my goals. Academic requirements According to the United States Bureau of Labor Statistics, the academic requirement for joining this career is a Bachelor’s degree from business and administration, even though a master’s degree is often preferred.  For individuals wishing to work as private firms, licensure and certification from relevant authorities is requires. Other added advantages for job opportunities affiliation or membership to American Marketing association, extensive experience in sales and advertisement, product and service branding, and social brands. Some of the additional requirements that blend academic requirements include strong communication skills, negotiation skills, experience in marketing fields, exposure to social networking sites, and experience in marketing services. Strong computer and internet skills, leadership skills for recruiting and managing teams, and experience in budgeting skills offer added advantages for securing employment in multinational companies. Career outlook and projection in the next ten years Marketing managers can work in variety of companies. They can work in manufacturing industries, health institutions, and government and private corporations. Any institution or business that wants to boost its sales wil seek the services of marketing managers. According to the United States Department of Labor and Statistics, the market demand for marketing managers is expected to rise by nine percent in the next ten years. As businesses fight global competition, the demand for marketing managers is increasing. Responsibilities Marketing managers are in charge of the sales team of the firm. They perform their responsibilities by researching, forecasting the market, and developing and overseeing the company’s marketing programs. When leading the marketing team, marketing managers will oversee some of the tasks such as maintaining clients’ databases, collecting information from online marketing trends, and executing market plans for global brands. They also work with sales agents, art directors, and financial managers to oversee the growth in sales for their respective firms. Other responsibilities include creating and managing marketing surveys for new products, identifying new market sites, planning for market entry, and channeling resources towards the goals of the firm. Marketing managers also report to top managers regarding, monitoring, analyzing, and informing the firm on best channels for advertisement, researching and reporting on possible strategic partner for business in the market, and coordinating activities related to brand image. In this era of technology, marketing managers also work with their teams to develop or access tools for online marketing and collecting data from online customers with the goal of using data to make business decisions. Salary/Compensation According to BLS.gov, the basic pay for marketing managers is currently at $106, 261. This value however, varies depending on the environment of work and other allowances. Work Environment The work environment varies depending on the nature of the firm. For start-up companies, the marketing manager may find that he is always engaged in researching and developing the brand of the firm. However, in this era of internet, marketing managers are using search engine optimizations (SEOs) to channel potential buyers to websites. Social networking sites such as Facebook and Twitter have simplified the task of advertisements and promotional activities. Nevertheless, marketing managers may still find themselves engaged in online video conferences when addressing employees from multinational companies. Working hours According to BLS.gov, marketing managers work thirty-seven hours per week from 9:a.m to 6:pm. However, in multinational companies and busy organizations, sometimes the marketing manager may be required to work more hours to meet deadlines and targets. When working as an individual, the marketing manager may find schedules tight as one has to mobilize others to fulfill the marketing requirements. Job satisfaction The research survey from Lisa’s article indicate that seventy percent of marketing managers are satisfied with what they do while thirty percent voted that their work is to help other people live better lives. Application to personal interests and goals I find that I can prepare to work as a marketing manager. From the analysis of this career, I find three motivating factors that make it suitable. The first concern is on job flexibility (work/life balance). Even though I intend to be employed and work as an intern for two to three years after my studies, my primary goal is to own a marketing firm. I want to employ people in my firm and be the marketing manager. I have competent leadership skills that I have developed throughout my life. I have worked with different marketing clubs when in high school. I have practiced communication and negotiation skills that make it possible for me to fit in this field. The remaining area of concern is to focus on my studies to obtain academic competency. The second point of interest is how I have desired to work in a challenging and productive profession that creates room for personal growth. While work/life balance may be optional, I also think that working as a marketing manager will help me develop time management skills and nurture my leadership skills. The main advantage from this career is that it requires a creative leader. I have practiced working with different computer programs and software such as adobe illustrator and adobe Photoshop. I can design banners, posters, and logos for businesses. Regarding social media presence, I am active in all popular social networking such as Facebook, YouTube, WeChat, and Twitter. I have practiced creating podcasts, video Ads, and content marketing. Currently, I am working with a colleague to create a blog where we will be posting content about marketing research. Career path to marketing After analysis of this career, I find that there are two main entries that I need to focus on. Since the process of marketing starts with creating the product and delivering it to the consumer, all majors involved in this career are necessary for me to realize my dreams. The associate degree courses that I should be taking now include principles of marketing, international marketing, and salesmanship. Bachelor’s degree courses that I should be pursuing include consumer behavior, marketing research, public relations, e-marketing, advertising, business-to-business marketing, sales management, and retail management. Academic majors include marketing analysis and management, global marketing, internet marketing, international marketing, e-marketing, marketing analysis and management, and product innovation and planning. Doctoral degree courses that I will need to take include buyer behavior theory, empirical models in research, multinational marketing, empirical models in marketing and research, and conceptual model of product planning. As a leader of the marketing team, I will not rely entirely on my team to make decisions. I have to exercise my thinking and creative skills, develop leadership skills, and learn problem-solving techniques. I am also required to develop an entrepreneurial mindset. I have to learn how to take calculated risks to become an effective manager. I have competent social skills, but I will need to improve my skills to reach out to many people. Apart from creativity, I also have to volunteer for internship or join business clubs within my institution now. The primary requirement in this career is sufficient exposure before I complete the studies. Financial Consultant The evolving needs for financial marketing for companies and individuals has led to a significant increase in demand for financial consultants. Many people make earn significant amount of money but end up stressed when they realize that they are always in debts. Financial advisors readily come in as experts on managing money or offering advise on how to manage money. They are also called financial advisors or financial planners, depending on the responsibility they play in the financial market. Independent financial advisors (IFAs) work as individuals in the market and can be consulted to offer financial advice by individuals or companies. Academic re...