The Business Society: Business Careers for Business Majors

The Business Society: Business Careers for Business Majors


– Our first speakers
are a real treat for us as well as for you. We have not had them speak before. We have professors Carol Goldfond and Professor Brenda Warr who will be speak about health information management systems, a very hot area, given the
Affordable Healthcare Act that was passed a few years
ago, and is quite controversial; changed a lot of the ways that healthcare records are treated, and with that, I give you Carol Goldfond. (audience clapping) – She took my line. Okay. Well, welcome. I’m Professor Goldfond. I’ve been teaching health
information management courses for the business department
for a number of years and I’d like to answer
this question for you. I get this question a lot. Health information management. What is it? Okay, well, it’s all about that health record. Now, the health record
is the starting point for everything clinical and administrative that involves a patient, and diagnoses, treatments, billing, coding and also did you know
that the health record is a legal document? So, I see some of my 917 here, so you should know this. It’s a legal document. If there’s a legal case, a lawsuit, that health record can
be called into court. It can be subpoenaed, and also it’s the primary
source for any medical research. So the health record, very important. Now, if you look at this, traditionally it was the
medical record department and the files were paper-based. Now we’re kind of in the
stage where it’s hybrid. So you have some paper
and some electronic, and eventually the goal
nationally is to go to a national health information exchange, and there’s really a big push for doctors and hospitals
to go electronic. Why go electronic? Well, it’s complicated. And the national health
information exchange is the big goal, and what that means is, you will have records
if you’re in this state and you go across the country
to California, let’s say, your records could be
pulled up immediately. So, idea is that you get
better quality of care and patient safety. Now, an example of this is in Taiwan. They have state-of-the-art
technology there. So they use something called a smartcard, and the patient walks around
with something that looks like a little credit card and they can go into, really any facility to get services in all of their records are there, even if they went for a test that morning. So, our goal was to have,
someday, something that this. Now, it all started in 1999 when the Institute of
medicine did a study, they found that 44,000 to
98,000 hospitalized Americans died every year to medical
mistakes due to errors such as medication and poor data workflow, and they decided to push for electronic medical records in this country, and it all started in 1999. 10 years later, it hadn’t happened until the economic recession. And now, it’s all about that incentive. So, incentive money. Funding. The government decided to provide funding as an incentive to doctors and hospitals to implement electronic health records and they passed the American
Recovery and Reinvestment Act or ARRA of 2009. This was a stimulus package,
that gave the incentive money to doctors and hospitals for automating their health information, and it’s a very big deal when you start giving incentive money, and it affected Medicare
and Medicaid reimbursement. So let’s see if it worked. All right, here’s the first chart. Do you think it worked for hospitals? Kinda looks like it right? If you look at these years over here, it was flat over here and went up. Okay, so incentive money works. And here’s the statistics for the doctors. Oops. Same thing. Right. It started to go up, after the policy of providing
incentives took place. Okay, and now it’s all about that data. Well, what happens now,
this data has to be turned into information, usable information. So there has to be, it’s complex, it makes it very complex. There is more managing. There’s more analysis. There’s more protecting
of the data, right. Data security is a big deal right now, and this has resulted in
new and evolving careers. So, what does this all mean to you? Let’s take a look. Look at these different job
titles that are available, and some of these are relatively new. These bottom two, before
electronic health records you didn’t see these kinds of titles. But you may have an interest
in the revenue cycle, compliance, informatics,
data analysis, IT, even public health if
you wanna that route, education training, a
lot of different careers, from health information
management are available. This is a great scattergram. Take a look at this. Entry-level positions, for these titles. And you have this in the handouts. If you didn’t take them we
have some more up front. Compliance, risk management, education, communication, and so on. All these different titles. Over here I think we have
the coding and billing. So entry-level with a
certificate which we offer here, you could fall into these
two categories to get jobs. Second-level Associates degree. More opportunities. Four year degree, masters level. A lot of opportunities. You have this handout. If you’re interested in
medical coding, billing and reimbursement, you have
a lot of opportunities here as well in a lot
of different settings. And here are the places
that you could work. Obviously the clinical
facilities, hospitals, doctors office and so on. And guess what, you can even work at home if you’re going coding and billing. Research, government, law
offices, medical malpractice is a big field now, and so on. Insurance companies. But the big change has occurred
because of the software. EHR software vendors. There has been an explosion
of more EHR vendors. So if you’re interested in IT,
well this might be for you. And, look at this. Prior to the incentives
or healthcare reform there were 24 hospital EHR vendors. Now, 300, 300. For ambulatory, it used to be
250 before healthcare reform. Now we’re up to 700. All of these companies need trained staff. And there are certifications
that you can get to get you started with this. The American Health Information
Management Association with your certifications. We prepare you here for the first level, the Clinical Coding Associate, which is misleading. I tell my students all the
time, it’s not just for coding. It’s for health information management. Half the test is testing on health information management content, the other half is coding. And look at the salaries here. Pretty good right. Medical records technician starts, these are starting salaries. I just downloaded these a week ago. 43,000. Where’s the medical coder
for my coding people I see here today. 52,000, look at that. Okay. All the way to the director is 90,000. So, a lot of really
good job opportunities. Again the industry is changing. There are new types of positions evolving. Think about it. It’s a good field, growing field. And, that’s it for me. I’m gonna pass it on to
Professor Warr who is going to start with healthcare reform
and give you some idea of what we have here in Queensborough. (students clapping) – Hello everybody. My name is Professor Warr. BU-917, Health Information Management, see a few of my students here. We’re gonna be talking
about healthcare reform and also some of the programs that we have at Queensborough. So did you know that 70% of
deaths in the United States are caused by chronic diseases
which could be avoidable? So, chronic diseases are
controlled but not cured. So, we have diabetes,
obesity, heart disease which is the leading cause
of death and also cancer. So in 2010 we had the healthcare reform. Some of the goals, we have
four of them listed here. Improve quality of care
and patient safety. Reduce overall healthcare costs. Increase access to the uninsured. Encourage insurance competition in an open, regulated marketplace. The new focus, the emphasis
is on wellness and prevention, in addition to necessary medical care to keep people healthy. So, prevention screenings
we have are breast cancer, blood pressure and diabetes. That’s some of the preventative measures. Thanks to the Affordable Care Act, the number of insured will
jump from 30 to 34 million, which is good for people looking for jobs. For young adults ages 19 to 25, because of the Affordable Care Act, you’re allowed to stay on
your parents’ insurance until your 26th birthday,
which means that’s why we have more people that are insured. We also have mental health treatment, has increased also because young adults staying on their parents’ insurance plans. So ages 19 to 25 are the
ones that have the highest mental health or treatment
that they’re getting. So the three most popular
mental health diseases for adults, depression, substance
abuse and schizophrenia. Healthcare field. Healthcare costs accounts
for approximately 3 trillion in spending in the United States, and the costs are rising
faster than inflation. The healthcare field is the
fasting growing industry in the United States
and we have a shortage of trained professionals anticipated in every healthcare career. So again, that’s good for everybody who’s interested in healthcare. So the courses that we
have a Queensborough, we have the Healthcare
Administration Certificate. We also have the Medical Office Assistant which is an A.A.S degree. In the works that we’re planning on, is an associates degree in
health information management, with tracks in health
information technology and medical coding and billing. Then we also have an associates
degree in public health and that’s an ongoing program
that we’re working on. So current options that we
have with QCC right now, if you enrolled in the A.A.S Degree in Office Administration and Technology, you can apply your 16 elective credits to also earn a certificate in Office Administration at the same time, and that’s listed in this brochure. So either you have in your packet or we have some in the front
that you could take a look at. So with the certificate, you
have an option in healthcare. Okay. Courses that you needed to take the AHIMA Clinical Coding
Associate certification exam, BU-903, which is Medical
Office Procedures, BU-917, Health Information Management, 916, Medical Coding I and 918 Medical Coding and Billing II. So for 903 these are some of the topics that are discussed in the class, some medical research, transcription, appointment scheduling,
medical office management. 917, some of the topics
we discussed there, medical ethics, meaningful use incentives, the HIPAA privacy rule, security
rule, internet security, very interesting course. Nobody ever says this course is boring. 916 and 918, we discussed
Medicaid, Medicare, coding, billing, reimbursement,
prospective payment systems, also for the CCA exam. So related four-year programs at CUNY, we have Health Information Management at the school of professional studies and it’s an online course. There’s also Health
Service Administration, which is at New York City
Tech and also Medgar Evers. Health education is that
Baruch at City College, Lehman, Hunter and
College of Staten Island and we have Public Health,
which is an upcoming new program which will be at York College. So thank you for listening and I’m gonna turn the floor
over to Professor Meltzer. (students clapping) – Some of you are in my
classes and you hear some more stories about being
an analyst on Wall Street and so I just wanna give
a few minutes on that, and we’ll talk about what an analyst does. First an analyst is working within a bank or investment bank in a
equity research department and they work with the
sales-people, the traders as well as investment banks, and they do fundamental research, which I’ll talk about in the minute. We do or we did, or they do, marketing and communicating with all sorts of clients,
usually institutional clients, those portfolio managers
I referred to in class. You analyze and you forecast
financial statements and you write a lot of reports that support your recommendation. If you have a buy recommendation, it’s something that you’ll want to do is support your recommendation, and of course you have to comply with rules and regulations. Now my industry was the telecom industry, which was not considered
a very exciting industry and it may not be exciting today. But when I covered it, my coverage spanned from when it was a plain
old telephone system to a much more exciting
area of broadband networks that was suddenly being
open to competition and the competition came
from cable companies, so it required me to
understand cable companies, the wireless companies
and even how the internet world was opening up. And as part of this, my
fundamental research, I would, many students have often asked, is it really about number-crunching, or is it just about writing reports, is about meeting with the company. It’s really all of that. You make channel checks, trend analysis. You go to tradeshows. You meet with the companies
and you visit with very senior management, and you analyze all the SEC filings. Many of you will hear from
financial, the accounting folks and they’ll tell you that
you really have to not only know the numbers, but
look behind the numbers and ultimately, you have to
be creative and resourceful and curious about getting
value-added information that your competition doesn’t understand. So you look beyond the numbers, much more than a superficial view. So those of you who are
taking accounting and finance really get behind numbers. And then ultimately you’re
responsible for evaluation of the securities you cover. I covered AT&T and Verizon
and some of the cellular companies and some of
the internet companies they all had different evaluations. But in terms of analyzing,
analysts do what investors do. They look for undervalued stocks that they want to put in their portfolio. And I said that, most of my
investors that I talked to, the clients themselves were
institutional investors and then we merge with another company we also talked to resale investors, which are people just like you and I. And we would look at evaluation across many different spectrums. Those of you for taking
the, or take finance, you’ll be looking at a
lot of these evaluations that’s part of the course
and if you’re lucky enough your professor like
myself and Steve Hammel, we actually play the stock market game. So you get a million dollars. Actually I think Steve, Professor
Hammel only gives 100,000 so you might wanna come to our class. We give more money. You have to give it back at the end, so don’t spend it all at once. But we make comparisons to recommendations and see which are the undervalued stock, which are the ones that are cheaper than where the market is, and we put more money into those stocks and with any luck, we
have a positive portfolio. We do right reports. Analysts write reports. They become experts in their field. Company management call analysts. The institutional investors call analysts. They write in-depth reports. They write very short pieces. So writing skills are very
important along with being able to communicate to the clients
in many different ways. Just a word on compliance. Can’t talk enough about compliance, but there are a lot more
regulations on Wall Street now and more to come. So as an analyst you need
to be objective, independent an unbiased and certainly ethical. So, in terms of the career
itself, there are multiple ways to get into this career. You can start as a junior or maybe as a full-time
analyst, right away. Many of my peers had
worked in the industry, worked in retail stores,
worked their way up management, worked for the CFO and
some of these companies and actually became industry
analysts in that area. They were apparel analysts
who knew all about clothing. You can guess that I was
telecom not clothing. That was supposed to be funny. (students laughing) And then ultimately, they
get jobs as senior analysts. One of the things I wanted
to talk quickly about, there’s lots of positives. It’s a dynamic type of job
and it’s very high paid. These numbers are probably old and it’s a little bit more than that. But the salary is 75,000. But most of your compensation is bonus. That’s the good news. The bad news is, very stressful
environment, long hours, requires a lot of dedication
and always being challenged. If that’s something that you’d like, that’s a good area for you. Higher job risk. People do get let go, more
often than other companies and you also have a narrow focus. We get very deep, but only in telecom or any industry you are. But you know everything
about that industry. Yes you could eventually
go to high level job four Verizon or one of the other companies and then of course compliance
and legal constraints. So where to get a job? Basically if you worked for
a broker, a brokerage house, a bank, investment bank, a pension fund, insurance companies, you can usually make the transition there. You can also work for some of the financial advisory companies, could even be a broker yourself and do a lot of this analysis. You can work independently. A lot of people I’ve noticed have been going on the website Seeking Alpha. A lot of my peers are now doing it. You actually can do that
independently and make some money and get a reputation. A good one, I mean. But the most important is
continue to build at your schools. Many of you were going to
apply to four year schools and Baruch and the Queens College, have very good programs,
internship programs. And I think advice to
students, work hard in school. You’re gonna hear a lot more
about this from other people, so take the required
courses and be very engaged with not only the
course, but your faculty. They want you to be
engaged with them as well. Network with them and ask more questions then you might do during Q&A. Now I’d like to turn
it over to Ed Volchok, our professor who is
marketing and statistics and had a very distinguished career in advertising and marketing. (students clapping) – Thank you, thank you, thank you. I’m sitting here and I’m
realizing that I started in advertising April 1979, 36 years ago. How did this happen and how
did I get into advertising, which is part of marketing? And I should talk to you about marketing. Marketing is, simply stated,
solving customer’s problems. See, very simple. You gotta know who your customers are. You gotta know what their problems are. You gotta know who is trying to solve your customer’s problems or your potential customer’s problems. How much will have to charge them? I do I get my solution to them, and how do I communicate with them? I could go on for two hours about all the different
job areas in marketing. I started out in advertising
for a variety of reasons, personal reasons, and I’ll tell you those. I didn’t want to leave New York City. My background was unusual. I have a PhD in political science, and if I wanted to get a job as an assistant product manager
at Bristol-Myers Squibb at that time a New York company, it wasn’t affiliated with Squibb then, I would need an MBA. But Foote, Cone & Belding advertising, they were hiring a lot of MBA’s, but oh my gosh PhD from
nice place, come on in. And by the way, we have people
here who have high-level well paid positions who don’t even have a high school diploma. You will need a high school diploma. You will need a community college degree. You will need a four year
degree and you will need an MBA, eventually, to get started. You need to do research in two areas. You need to know who you are. You need to reflect on
what it is you like to do, where you’ve had successes, and you have to write a
good resume that highlights the skills, the value that
you will bring to an employer. I don’t wanna step on any toes. But I see students give me resumes, and it starts out, objective, I want a job that’s gonna allow me to flourish and get lots of money. That’s not a marketing approach. The starting of your resume should be, this is what I offer you, my customer. Marketing is customer focused. I was thinking about
one of the best places, places I worked. In the 80s I spent most of my time at Ogilvy & Mather advertising,
Founded by David Ogilvy. Mr. Ogilvy was purely a genius, although he said he was
a jerk and an idiot. He started out in a restaurant in Paris, Essentially, you know like,
managing a restaurant. Low level stuff, sometimes
working in the kitchen. French chefs are tyrants. You gotta get used to dealing
with difficult people. Sorry, but that’s true. He then went back to his home in Scotland and sold AGA stoves, door-to-door. Selling is an important
thing for marketers. You have to know what motivates people. You have to know what
sells and doesn’t sell. So if you can get a job
working in Best Buy, that is wonderful training, and I know you guys can do that now. You need to put together an understanding of what marketers want. There are a vast array
of positions, right now. Right now meaning the last 15 years, not only skills with Microsoft itself, but skills with databases
is incredibly important. Look at what they’re
doing in the CIS section. There are so many ways this connects into what marketers need to do. With technology, marketers
are trying to track what individual customers are doing. And meeting, providing them individualist, individualized solutions
to their problems. So computer skills are really important. You need to have fire in your belly. Really, fire in your belly. You gotta want this job, whatever it is. Because it’s not gonna be easy to get. It’s gonna be harder to keep. You’re gonna be dealing
with daily pressures and incredibly long hours. Incredibly long hours. 60 hours a week. You wanna get a job at Google,
and Google talk about how wonderful they are and how
they provide you with all sorts of food and basketball
courts, and you know all sorts of recreation and you can bring
your dog to work with you. Well the reason why
you can bring your dog, is you’re never gonna see your bed again. (students laughing) You’re never gonna see your home. You’re never gonna see your spouse. The last job I had with
a direct response agency, it’s a type of advertising, I used to get in at 7
o’clock in the morning and I used to leave at 7
o’clock at night and one of the partners used to tell me, you know for many years I would sleep an hour or two in my office,
go home, take a shower, change my clothes and come back, and I was working 20 hours a day, and she was crazy enough to do it. You have to decide, again going
back to what you wanna do, how much you’re willing to sacrifice. You can make an obscene
amount of money in marketing. Not as much in finance (speaking faintly). You can make a lot of money. But there is a sacrifice to that. If you decide you want a lower level job, you can be successful, but
the returns are gonna be less. When I started in advertising, I was an assistant account
executive at a major agency. And I’ll tell you what they paid me. They paid me $22,000 a year. Some of the agencies which
were better, Grey advertising, which was better shop in
New York, paid $18,000. By the way, $4000 back then
was big, big difference. 15 years ago I am, looking for a job perhaps. I wasn’t sure. I was a member of a senior
marketing networking group and anyone in the group would
tell you that the average marketing job for a senior
person lasts 23 months. So I’m looking, I get a call
from an advertising agency, which is the last place I wanted to go, and I started talking to
the head of human resources saying, you know I don’t
think I really wanna be here but let’s talk. And I said, do you hire
assistant accounting executives? By the way, assistant account executives when I was starting, had
MBAs from elite institutions. No, we hire account coordinators. What do you pay them? $22,000 a year to start. What kind of education do they have? Well they have bachelor’s degrees, but not from elite institutions. I know, that when I was at Ogilvy & Mather we had an account coordinator. One of our accounts who was a secretary with a two-year degree, who got promoted and we didn’t think that
she was going to become an assistant accountant
executive, account supervisor and all the way up to
group management supervisor and then run her own office somewhere. But we knew that she was
gonna get a decent wage and she would be responsible
work, and that was great. And you could probably find
jobs like that, fairly soon. But you have to decide,
you have to explore, you have to talk to people
who have these jobs, which you have to network. By the way, if you are shy, get over it. I did. I am a shy as anyone in this room. And you gotta get over it,
’cause you gotta talk to people. If you wanna be in marketing,
you have to write well. You have to think on your feet
and you have to be willing to work harder than the next person, and the next person is not
cool, work 20 hours a day. I got a few minutes left, right? – [Woman] Yeah. You have two minutes – Two minutes. Question quick. – [Woman] No no, we’re gonna do Q&A. – At the end? Okay. Think of questions. Think of, where am I gonna
get this information? You gotta start reading. Brandweek, New York Times,
Wall Street Journal. You gotta go down in Manhattan
to 34th and Madison Avenue, there is a New York public
library called SIBL, science, business and industry. Go down there, make friends
with the reference librarian. Tell her that you’re interested
in a job in marketing. Be specific. Industry, size of the company
and location of the company. She and the research librarians
are typically female, will take you and she will
find you so much information and that’s a good place to start. But then you gotta go find, how do I actually talk to
people who have these jobs? And you wanna talk to people
who have the job that you want and then you want to talk to people who can actually hire you. So a long process, and I don’t have time to tell you how to do that yet. – Hi. My name is Professor Katz, and I’m here to talk to you a little bit about the Computer
Information Systems major within the business department and as Professor Volchok said before, that the marketing people
tell the businesses, sort of focus them on
what it is that they want, the information systems professionals, then implement whatever
it is that that business has decided, that they want to do. So what puts us in a unique position, is that every business wants you, because we are in a
sense the backbone of how every business functions in today’s world. Every business has
technology in some form. Now people often ask me,
what’s the difference between computer science and
computer information systems? Both fields require a person
who likes to solve puzzles. Who likes technology. Computer science is more mathematical, scientific, theoretical. Computer information
systems, which is also, technological, is more focused on the needs of the business and how to solve and implement
those business problems. So ultimately when you talk about what kind of degree do I need? Eventually, probably an MBA is the likely way to go as well. But to start out, we’re
here at Queensborough. In our computer information systems area, we teach programming. We teach, we a variety
of programming languages. We will be teaching,
actually we’re in the process and almost there of implementing
a brand-new curriculum where we’re gonna be teaching
Python, Visual Basic, C++, HTML, JavaScript. We teach all of the Microsoft
Office products which companies expect you to know. This is not optional
anymore, aside from learning Microsoft Word, people now,
we as a department talk to companies all the time,
because we wanna know what they want from our students. And almost unanimously, they
say, we want our new employees to be able to manage a
spreadsheet, to know Excel. These are skills that
are expected of anybody in business in any area. Now some of the up-and-coming careers in computer technology
and information systems, mobile application developers, we all use our smart phones, our tablets. Somebody needs to write
the code to make them work. That’s us. Developing websites, and
not just sort of the point and click that you can kind of get online and make something basic yourself. Something where a business
can sell their products from. E-commerce. We’re the ones that implement that. A database administrator. Huge amounts of data are being handled every day in business. A database administrator
is involved with storing, organizing, analyzing
and securing the data that businesses need to manage. Network administrator. How much do we do online? Everything. So now, every company has to have a staff of people who can manage their
network, who can manage the communication and
the transmission of data from one place to another. Systems analysis. People who perhaps are not
as interested in writing the details of the
cold, but are interested in breaking down the,
each facet of the business so that ultimately it can be translated into a computer application. Security. Security specialists are on the rise, with more and more
information that is passed along the internet, stored in the cloud. The data has to be secure. So we have to be able to
learn how to protect the data that gets transmitted all over the place. And a few of the
professors were discussing health information systems. Very big, big new field. Again, you need a developer to
write those systems as well. So, as an area, computer information systems really is needed by every business. So, if you like to solve
puzzles, analyze puzzles that’s a real, it’s a great opportunity. The money is, the money is pretty nice, and you also have to
work hard and that too. You get calls in the middle of the night. When I was a programmer years ago, I used to have to actually
go in to my office in Manhattan, to fix
something that went wrong because we used to run systems when the stock market closed. I worked for an insurance
company and we can only evaluate our pension funds after the close of the stock market. So then, at 3 o’clock in the morning ’cause it took hours, and hours, and hours to run these jobs, I would get a call if it was my turn to be on
call, and I’d have to go out to Manhattan and figure
out what went wrong. Nowadays at least, you can just get online and figure out the problem,
even though it’s still 3 o’clock in the morning. (group laughs) In any case, just to wrap up, right now we are teaching
courses in Access to manage databases. We’re teaching intro and
advanced courses in Excel. We teach networking. We teach webpage design,
advanced operating systems, so that you have a foundation of why all the stuff actually works. And as well, a variety
of programming courses, systems analysis and design. And all of our students are also required to take A Foundation and
Introduction to Business, accounting, statistics, et cetera, because we still have to
know the basics of business in order to be able to implement
any business technology. So, there you have it. Come join us I hope, and, (students clapping) I’d like to introduce Professor Bannon. – Hey, I am Professor Shele Bannon and, and I teach accounting and
I love accounting, okay. So this is like an exciting
thing for me to tell you about. It’s something I love doing. I am a CPA. I worked in accounting, and I’ll go through kind
of what my background was. But accounting gives you
360 degrees of possibility. In other words there are
so many opportunities in accounting, that if
you major in accounting you have a wide choice of
jobs, of what you want to do. Okay. What are accountants today? They’re financial experts. So they have to know some finance. They’re system professionals. So they have to work with CIS. They’re management consultants. They’re budget analysts. Those of you in my BU-111 class right now are starting to realize that. The demand for accounting is growing. That’s the good news. And the demand is outstripping the supply. So you’ll have a really good chance of getting a job in this area. The Bureau of Labored
Statistics projects that between now and 2022 we’re gonna have a growth of 13.1%. That’s an additional
166,700 accounting jobs that need to get filled. Right now, in best business
jobs, we’re rated number three. Okay. What are the salaries? These are the averages of
the salary you can get, fairly early on. Okay. Most of them in the 75th percentile, are making around $85,000. I know there are some
partners in accounting firms making in the $400,000. The potential in the upswing is huge and you start in at a pretty good rate. You can go into industry, and now I’ve worked both. I worked in public accounting
and I’ve worked in industry. I love industry. I liked it because there’s
such a variety of things to do. But if you have a particular interest, let’s say you like gaming. Well maybe you want to become
the chief financial officer for a gaming company. Okay. Maybe you like Entertainment, and you wanna go into that kind of field. Sports, technology, criminal justice, any area you’re interested in, you can go into that company. The company will need an accountant. Okay. Management accounting. This is what I love. This is working in a company, and I started off as a controller, and work my way up to a
chief financial officer. You develop communication skills, ’cause you’re working with
the whole rest of management. You’re developing business
strategies, business savvy. They talked about you
reading the newspapers, know what’s going on in
the business world today. Do that, okay. And you gain it, when you’re
in management accounting. Technology. Every single job I had in
industry, I work hand-in-hand with the CIS department. I was explaining to them
what kind of reports we need and they were being able to
actually get them accomplished. Management salaries. Now this is where your salary
can really go up for sure. You can start off as a
corporate controller, somewhere around 100,000 today, if it’s a small to medium company. Larger companies, of
course you’re gonna get, little higher salaries,
’cause you have more to do. But by becoming a chief financial officer, your salary can go up to $400,000 a year. Now believe me you’re
gonna work hard for it. Okay. But it is fun. It is challenging. It is interesting. What skills do you need to develop now in all your courses? Teamwork, one of the
main things you need to. Leadership roles. Take on a leadership role. Become the leader of the business society like we have here. Take on extracurricular activities. Do the mock trial. Do the accounting case competition. Technology skills. Crucial in accounting. Right? It goes hand-in-hand, and
those of you in BU-111, we’re doing QuickBooks. You gotta know the technology. Analytic skills, business analytic skills. You not only are gonna
calculate the numbers. What do they mean? What are they telling you? You develop in accounting,
and the accounting courses you take, you’re gonna be developing, I call it, a little toolbox. And it’s probably a pretty big toolbox by the time you graduate. But that’s what you’re going to use in order to analyze a company, in order to tell the company, how can you make more money? How can you reduce expenses? Do we have too much debt? Do we have too many assets? Add value. Every company I worked in, I was part of the management team. I would give them my input
based on all my numbers, based on all my analysis. I was definitely deciding
and helping decide in which direction the company would go. How did I start off? I started off as a bookkeeper. Okay? I was a secretary, then I
took on some bookkeeping. I kinda liked it. I loved being able to balance everything. If anybody here is from
my Accounting I class, you know that once you get it right, you just get really excited. I decided to go back to school. I had two children. I went back to school, got my degree. I went back to community college, then I went on to a state college, got my bachelors in accounting, went to work for a big accounting firm. Back then it was big eight. Today I think there’s
only four of them left. I worked in audit. I worked in tax. I passed the CPA exam. Not an easy task but
definitely worthwhile. It’s a credential no
one can take from you. Then went to work as a controller in the real estate development company. From there I went to
work and became the CFO of a securities exchange commission bank. Okay. That was thrilling. That was exciting. I had a lot of reporting I had to do. I had a lot of things going on. But it was a small to medium company. So what did I get involved in? I was involved in IT,
accounting naturally. All the regulatory reporting. We would sell batches
of loans to Wall Street. I was there negotiating those deals, budgets, cash flows, operations, attended every board meeting and prepared all the reports for those board meetings. Okay. It was exciting. It was challenging. It was exciting. From there I went to work
in a manufacturing company. It was a dress, women’s fashion. They did garments. I was the VP of finance. That was tough. Okay. Talk about trying to analyze cash flow. That was a really tough one
because you have to put your money out so far in
advance to buy the material and trying get the goods
going before you ever get the cash in from the
sales of those items. So cash flow was huge. I worked with an actual factor. We sold our accounts receivables. I was part of human
resources, customer relations. Right. I tell my class, the squeaky
wheel always gets oiled. If you have customers not paying
you, call them, call them. Okay. That was part of what I had to do. And then I took a little time off, but in between I then went
to work at a nonprofit. Now that was rewarding. That was totally rewarding. I became the director of finance. Attended all of the board meetings. I again it wasn’t so large,
that I was responsible for a lot different things, so. It was fun. I had so many different things going on, and I was learning so
much as I went along, and in the nonprofit organization
I found that the people you work with, are really nice. Okay. They’re all there were sort of a cause. You know? And then I became a professor. Okay. I went back to school, got my MBA. Went to Pace University to get it. Received some honors. Taught at a community college. I taught at Marymount Manhattan. I taught at St. John’s University. I taught at Fordham University, and now I recently got tenure here at Queensborough community college and I just love it. (students clapping) Okay I, I love my career in accounting. I hope any of you who
do go into accounting or are interested in it,
come talk to me about it. I think it’s an excellent career path. It can take you in, the
company directions I went in. Okay. I am now able to understand. I can read financial statements and understand the nuts
and bolts of any company. Okay. It’s creative. I have the problems all which I like, and I developed a lot
of contacts, you know, that I hope that you will too. Okay. Thank you so much. (students clapping) – Hello, my name is Kelly Ford and I also teach accounting
here at Queensborough. I’m happy to be up to speak
about careers in accounting and I just want to stress what
Professor Bannon just said, that there are many, many career paths, many opportunities in accounting. Again people think of accountants
just sitting at a desk with an adding machine, right. It’s so much more than that. Another misnomer, that it’s all math. Right. The actual math in accounting
is basic adding, subtracting, multiplying and dividing. It’s understanding what
the numbers mean, right. And with all of those,
there’s private accounting where you work one company,
the controller for Macy’s all the opportunities Professor
Bannon just went through in public accounting where you
provide accounting services for the public, for many
different companies. Tax returns for all different individuals. Accounting services for
all different industries, construction companies,
landscaping, restaurants all different companies in the area, and also in public accounting. Now many firms have, they
specialize in forensic accounting. Has anyone heard of forensic accounting? Very good. So forensic accounting,
where you’re identifying financial fraud,
investigating financial fraud, and preventing financial fraud, and the FBI has recently opened up many positions in this area. It’s a hot area in accounting, and we now have a dual joint degree with John Jay College,
which means upon graduation you would automatically transfer
to John Jay as a junior. When you finish at John
Jay, you would be prepared for the Certified Fraud Examiner exam, which gives you a certificate, alright. The certificate says that you have extensive knowledge in that area. The salaries are tremendous, great, as we’ve mentioned in
all areas of accounting an forensic accounting as well. What’s great is if you want to go on, become a CPA, you can do that as well, but the certified fraud examiner gets you in the door with great job opportunities. The CPA license, that’s a license. So, that says you can
do something that others can’t do without that license. Again the certificate says you have extensive knowledge in that area. The license says you can
do things others can’t without that license. Do you have to be a CPA
to be an accountant? Absolutely not. Do you have to be a
certified fraud examiner? Absolutely not. But if you do that says
something about you. You then can demand more money. You have more job opportunities. So the sky is really the limit, and there’s all different areas, right. Again if you like audit work, you’ll be out of the office traveling. You could be visiting clients out-of-state for weeks at a time, so. And some people love the tax laws, and there you could specialize in that area preparing returns. But it’s all, depends
where you wanna take it, and the sky’s the limit. So, thank you for your time. – Good afternoon. My name is Ted Rosen, and
I’m here to speak to you as number eight out of eight. That’s always a challenge. But I’m here to talk to you about law, the profession of law and the
occupation of being a lawyer. Let me start off by saying and reiterating some of the things that
my colleagues have said about their professions. Lawyers do many different things, and the stereotypes
that you probably have, of lawyers going to court
and arguing in court is true but it’s probably, you know it’s, I’m sure it’s not a majority of lawyers. Lawyers are engaged in many, many different types of activities. Most people become lawyers by graduating from a four-year college
and going to law school and I can tell you three things about people that go to law school. Some of them are very
committed to becoming lawyers. The really wanna become lawyers. Some of them are not sure that
they want to become lawyers, and yes, there are people
that go to law school that are positive that they
never want to become a lawyer. Now that sounds a bit strange. But why? Well the fact is that going
law school is a background for many, many different things. There are many people that
graduate from law school that going to non-law activities,
meaning they work other than as a lawyer; business, government. Going to law school is a
background; is a preparation for many different types of activities. Now if you are thinking
of going to law school, what’s the best way to prepare? Students frequently ask me, what is the best undergraduate major? First of all, you need a four
year degree, for law school. The best undergraduate major is basically, it’s gonna sound strange, anything. Anything. Most people go to law school
with majors such as business, accounting, political
science, history, English. But I have heard at least
one law school dean say, that what law schools are looking for, for students who take
challenging courses, hard courses and do well in those courses. And I know law school
graduates and lawyers who have majored in the sciences, in engineering and math, and music and it sounds almost,
you know, anti-intuitive, but the fact is, these
are not easy disciplines and if you take on the discipline, you take on an undergraduate
major that’s not easy and you do well, that’s a good way of trying to get into a law school. Now, law school is four
years during the day, three years at night. I believe it’s still
possible in New York State, to become a lawyer without
actually going to law school. I don’t know of anyone
who’s done it in many years. It’s really long. It takes about seven or eight
years as an apprenticeship. I wouldn’t recommend that you pursue that. You need the four year degree, and you need to go on to a law school. Four years during the
day, three years at night. Some people in law
school wanna be lawyers, know for sure what they want
to do, after they graduate. But the fact of the matter is, most students to graduate
law school are not sure and in many, many cases
what they wind-up doing is based upon the opportunities that come to them after they graduate. Now generally speaking,
you can become a lawyer. You can work in the criminal area. I’m sure everybody here is
familiar with criminal law, criminal shows on TV. As a criminal lawyer, you
either work for the prosecution, state prosecution district attorney or the United States attorney’s office, if it’s in federal court, or as a defense lawyer, you
work for Legal Aid Society or some such group that provides defense for people that cannot afford lawyers on their own, private lawyers, or you work in a private law firm. Now if you’re not working
in the criminal area and you graduate, where do you go? Well, you basically can
work for a private law firm. You can work for government. You can work for corporations. You can work for not-for-profits. If you work in a government agency, just about every government
agency that you can name, at the federal, state and local level, have a legal department, have lawyers working for them. And they advised the
people in those agencies as to what they can do,
what they cannot do. Interpret the laws,
statutes, and regulations. Corporations. Most, all large corporations,
many midsize corporations, some small corporations,
have legal departments. The head of the legal department
is the general counsel, and as you would expect,
lawyers working for corporations are the lawyers for that corporation and they advise the
offices, the executives on what they’re allowed to do, what they may be thinking of doing, whether it’s permissible, things to avoid, and the range of business
today is so widespread dealing with so many issues, lawyers deal with all of these issues. Lawyers work for not-for-profits. Some not-for-profit
organizations are large enough to afford their own lawyers
and house, and some do not. They have outside lawyers. And of course many, many lawyers
work in private law firms, and that’s what I do. I practiced law before I
started teaching full time. I practiced law for just about 35 years. I started off in a large law firm. When I was there, the law
firm had over 125 lawyers. Today, probably has close
to a thousand lawyers. And then went to, and that was too big. I really wasn’t all that happy there, ’cause it was a little bit too big for me. But I went to a then,
small firm after working after working in a large
firm for several years and I went to a small firm with 10 lawyers and that’s when I really learned how to do what I had done mostly as a
lawyer, and that’s litigation. Most of my work as a lawyer has been in the field of litigation. And those of you who have
been in my business law class understand what that is. Those of you who do not, is
the process of going to court, resolving disputes in court. And I worked in the field of commercial, civil commercial matters. Lawsuits representing people suing and representing people who are sued. A lot of going to court, trials. But most lawyers,
especially on the civil side don’t spend all their time in court. Most cases as you may know,
wind-up getting settled. But there are cases that go to trial, and I have done trial work and all sorts of other things in court. Motion practice, arguing motions, appeals and all the pre-trial matters that go into preparing cases for trial. Now in terms of the
substantive areas, you know, lawyers work in many, many
different diverse fields. Obviously, we mention criminal law. But on the civil side,
there is corporate law, securities law, general
commercial law, real estate. Very important today, the
field of intellectual property, trademarks, patents, copyrights. All of the technology
that you’ve heard about, that generates a great
deal of work in the field of intellectual property for lawyers, in terms of getting the
necessary protections for the people they
create those technologies. Real estate I mentioned, state
work, environmental work. Health field is a very big area today, with all of the new laws, the
Affordable Healthcare Act, all the regulations that
are constantly being issued in the field of health care, it is a tremendous emerging
field, continuing to be an emerging field for lawyers. So the bottom line is,
environmental I may have mentioned, lawyers work in many, many diverse fields. Now the Bureau of Labor Statistics, Professor Bannon quoted
the figure for accounting, I think it was like 13% projected growth between 2012 and 2022. Similar, a little bit
lower lawyers according to the Bureau of Labor Statistics. The projected growth in
the legal field is 10%, a little bit less. The median wages paid to lawyers back in 2012 was 113,000. There are, that’s the
median, that’s the middle. So there are wide ranges. Top earning lawyers make a lot of money and lawyers at the other
end, don’t make so much. Being the lawyer practicing
law, especially in the private practice of law is not easy. It is a demanding occupation, and it is demanding and
especially in the field that I was in, in terms of time. I don’t know lawyers that
actively practice litigation that do not spend a lot of time. But again, the practice
of law is very varied and the most important thing
I would leave you with is, if you have an interest in
pursuing law as a career or even as a further step
in your educational journey, don’t not do it because you
think of yourself as quiet, Professor Bannon I believe mentioned shy or Professor Volchok, mentioned being shy. Well, I guess lawyers eventually, if they were shy they
probably overcome it, because they’d get used
to speaking in public. But I do know many lawyers that are quiet. I do know many lawyers that
really never went to court and if they had to go to court tomorrow, they’d be very nervous about it. So, contrary to the perception, that the lawyer is always the one, or the future law
student is always the one that speaking a lot in class, and lawyers always the
one that’s getting up and talking a lot. Yes that’s true for a number of lawyers but it’s not true for many lawyers. Lawyers do many, many different things. And if you’re a quiet person,
and you don’t necessarily like to talk, that
doesn’t mean that there’s not a future in law for you. So, disabuse yourself of
the common perceptions and misperceptions. And basically just remember that, I guess, the beauty of law is that,
law deals with all things that people are involved with, and people are involved in everything, and the law cannot take the position, but we don’t have to deal with that, you know, we’ll get to that. Law has to deal with everything,
’cause wherever people are involved there’s going to be issues, there’s going to be conflicts,
there’s going to be disputes and lawyers have to deal with it. So it gives you an opportunity to deal on a wide range of issues. So, those of you that are interested, I say, pursue it. Good luck. (students clapping) – One of the things I wanna raise, and actually we talked a
lot about skill building for career building
and maybe I missed this but Professor Rosen heads
the mock trial association and you talked about
shyness and I remember being in law school and
invited to be mock trial and I know you’re gonna laugh,
but I actually was too shy to go to the mock trial
room, and it was a mistake, because you learned to think on your feet and you learn to do a
lot of problem solving. What would you, Professor Rosen, say to some of the students
who aren’t sure they’re interested in law, but may be
interested in the mock trial, association, a mock trial group? – Thank you, Ms. Meltzer. That’s actually, also a misconception. People think, students here think, well
a mock trial is not for me, because I’m quiet, I’m shy. And I know that we have several
former mock trial members, current and former mock
trial members in the audience and they have heard this before. Most of the students who have
participated in my trials over the eight years that we have done it are not interested, never were interested in becoming lawyers, and
the biggest single reason students have joined mock trials and continue to join mock trials, and they say to this to me privately, they don’t say it publicly,
is because they are shy. That there are very
intimidated by getting up before a group and speaking,
like we’re speaking to you, like I’m speaking to you
right now, without any notes and memorize them, maybe they
should have, but they didn’t, extemporaneously and students are nervous, when it comes to that
and it’s understandable, that you’re nervous. It’s not easy. And the only way you get over that, is not just to think about it and put it off to some day. You can go out and do it. Put yourself in situations where you stand up and you speak, to a group, extemporaneously. An mock trial is an
excellent way to do that. It’s not the only way. There are many other activities
that we have on campus that give you the same opportunity. But I have had students,
as I said, who are very shy and after their one or
two years on mock trial, they’re almost like a different person. And I’ve have students who
have trouble with language, some of whom are foreign
language students, some of whom are English
language students. That’s with wanting to speak. They have trouble speaking. Mock trial helps them because
it gives them the experience of getting up and speaking. I will call upon mock trial
members in the audience to verify what I’m saying, but I’m sure they will agree with me. I encourage you to do that. – Also if you have an
interest in accounting, or in just business and accounting, you can join the accounting
case competition. We have some prior member here, I was say just not with the plural, ’cause I don’t see anybody else, but I think they got a lot out of it. I think you look at it
in a whole different way. So, that happens once a year. So the next, Spring, this spring. Next fall, you’ll get a notice. – [Woman] My question is, I have seen here that the current options At QCC for health, Health Professional Administration, is Healthcare Administration certificate and medical office assistant and there is another two
degrees here, but it’s in, in the works like, associates degree in health information management an associates degree in
public health science. So my question is, these are not at QCC. I mean, associate programs. – We’re working on the programs right now. So, right now we don’t have them. – [Woman] Right now they don’t have them. – Right. – [Woman] And also, I mean
is there any dual program with better degree with
any other colleges for the, I mean, any of those health
information related courses? – Did you ask for dual? What did you ask for?
– Right. – For transferring. – [Woman] For transfer program, I’m sorry. – The only one that really has, that maybe would accept
our courses from here, one of them for sure 917, which
I know you’re in my class. We have articulation with the School of Professional
Studies, which is the first one on that list for health
information management. – [Woman] Okay. – I am not sure which of our other courses they would accept. Probably a number of them. So that would be your first step. – [Woman] Okay. – I will look into that one. – [Woman] Okay, thank you – Health information management’s
a relatively new field as far as offering four year degrees. Several of the private colleges
have them, but in CUNY, School of Professional
Studies is the only one, right now that has it. I think Costra has one
and Delphi may have. There are a couple of
other four-year schools, but it’s coming up. It’s gonna be happening
in other colleges as well. – [Woman] Nothing in
CUNY, like York College or Queens College? – School of Professional
Studies is the only one that has specifically has
health information management. York is in the process of
building that public health and I believe that
they’re gonna have a track in health information technology. But again, that’s in development. So I don’t, you know, if
it’s a year or two years I don’t know how long it’ll be. – Okay, thank you professor.
– Okay, alright. – Any other questions? Thank you for all, for coming. Please feel free to
contact us individually, with any of your questions,
and please look out for the next business society meeting. Probably the fall, is probably
one of our most exciting yet and hand in your extra
credit for those points. Look forward to seeing you on Friday.

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