UNIV 101 – PART2
DEVELOPMENT PLAN
INDUSTRY OUTLOOK
My desired career goal is secure a position in business marketing analysis and development. Therefore, I provided research on the general outlook for marketing analyst. According to the Bureau of Labor Statistics, since most industries use market research, marketing analysts are employed throughout the economy. Finance, insurance, management, scientific, and technical consulting services employ “10 percent of marketing analysts”. The employment outlook will rise at 32 percent from 2012-2022, which is much faster than average. Most market research analysts need at least bachelor’s degree. Top research positions often require a master’s degree. Also, strong math and analytical skills and essential for this position. I haven’t decide if I need a graduate degree or PHD degree for this job, and I will make a decision depends on the performance I have on the job.
The BLS stated that the salary ranges for marketing research analysts varied. The median annual wage for market research analysts was $60,300 in May 2012. The median wage is the wage at which half the workers in an occupation earned more than that amount and half earned less. The lowest 10 percent earned less than $33,280, and the top 10 percent earned more than $113,500. Since I didn’t have any official Co-op experience, I would expect my salary range from $30,000 to $38,000.
UNIV B101-Part 2
Development Plan Instructions
The Development Plan is comprised of an industry outlook and SMART goals. The purpose of this assignment is to enable you to research your target industry, better understand the requirements and expectations of the field, and to develop strategies for achieving your professional goals.
I. Industry Outlook
You will write a two paragraph overview of your target position and industry. This information will include employment outlooks and projections, required education and licensure, and average salary ranges for entry level professionals. It is necessary to use external sources (see below) and cite this information. There should be two other resources used besides the BLS website.
· Occupational Outlook Handbook (Dept of Labor) http://www.bls.gov/OCO/
· Occupational Information Network/O*Net http://online.onetcenter.org/
· Vault Career Insider [e-resource via Hagerty Library]
II. SMART Goals
You will use the SMART goal format to address four categories (three required categories and one additional category) from the list below.
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Required Categories: · Networking · Industry/Technical Skills · Cross Cultural Awareness
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Additional Categories: · Identifying a Mentor · Personal Growth · Social Integration within Company · Financial Planning · Community Integration · Leadership Skills · Advanced Education/Professional Licensure · Other (you can create a category more relevant to your career goals)
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Specific-The goal should define specific results and provide concrete details
Measurable-When writing the goal, define how you can measure success
Attainable-Goals should be challenging but realistic
Relevant-State the results to be achieved
Time-Bound-Establish a time limit
Example of a SMART goal statement (please note the level of detail written):
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Category |
SMART Goal Statement |
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Networking |
Complete three informational interviews, during the fall of 2013, with mid to high level professionals working in economic development, public policy, or international economics working for the federal government or applicable agency within the Washington D.C. area to identify: · Viable career paths and entry level positions · Differentiators amongst programs (MS, MPA, MPP, MAIEF or PhD) · Application process · Creation of candidate profiles and interest statements · Recommended universities and colleges · Insight into the federal government’s job search process: · Navigating USAJOBS · Creation of federal resume · Overview of salary schedule (GS grades) |
UNIV 101-PART 2
DEVELOPMENT PLAN SAMPLE
INDUSTRY OUTLOOK
My desired career path is to secure a position in economic development or international economic
policy; therefore, I provided research on the general outlook for economists. The Bureau of Labor
Statistics documented that “53 percent of economists” are employed by the United States federal
government, state government, or an affiliated agency; and the employment outlook will rise at 6%
from 2008 through 2018. “Candidates who hold master’s or Ph.D. degree in economics will have
the best employment prospects and advancement opportunities” where as applicants holding a
bachelor’s degree will have limited access to entry level positions. As the field of economics
requires advanced education, I have conducted extensive research on applicable graduate and PhD
programs. The degrees I am considering include a Master of Public Administration (MPA), Master
in Public Policy (MPP), Master of Arts in International Economics and Finance (MAIEF), or PhD.
Program in Economics. My target schools are the University of Pennsylvania’s Fels Institute of
Government, Bandeis University’s Lemberg Program, Duke University, and American University’s
School of Public Affairs.
The BLS referenced that salary ranges for economists varied greatly; the highest 10 percent of
professionals earned more than $149,110 and the lowest 10 percent earn less than $44,050. I also
reviewed the GS salary grades for the federal government. Based on my co-op experience and
bachelor degree, I would expect to fall between a GS-5-7, starting at $26,264 to a maximum of $42,
290. However, after completing a graduate program I may be eligible for up to a GS-11 which
would be up to $62,593 annually.
SMART GOALS
Category SMART Goal Statement Networking Complete three informational interviews, during the fall of 2012, with
mid to high level professionals working in economic development,
public policy, or international economics working for the federal
government or applicable agency within the Washington D.C. area to
identify:
- Viable career paths and entry level positions - Recommendations for advanced degrees and development of
admission strategies, highlighting topics including:
o Differentiators amongst programs (MS, MPA, MPP, MAIEF or PhD)
o Application process o Creation of candidate profiles and interest statements o Recommended universities and colleges
- Insight into the federal government’s job search process: o Navigating USAJOBS o Creation of federal resume
- Overview of salary schedule (GS grades) Industry /
Technical Skills
Gain expertise in SAS and SPSS through participating in on-campus
training sessions facilitated by Drexel’s IRT, during the fall 2012 term.
Further expand on data analysis software skills by participating in a
research project with the Drexel Economics Department faculty during
the winter 2013 term.
Cross-Cultural
Awareness
Expand on international experiences and improve Greek speaking skills
through participating in Drexel’s Hellenic Society. Attend at least two
events during the fall and winter 2012 terms.
Advanced
Education /
Professional
Licensure
Identify ten graduate programs that are in alignment with future career
goals by August 2012, documenting the following information for
comparison purposes:
- School ranking - GRE/GMAT requirements - Full-time vs. part-time program options - Tuition and costs - Graduate assistantships, research opportunities - Application process, deadlines, and acceptance rates - Internship opportunities - Placement statistics and average salaries of graduates
Invest in GRE prep materials, expand vocabulary and complete practice
tests, sit for test in October 2012. Select top five programs, create
statement of interest, request recommendation letters from applicable
faculty members and submit completed applications by November 2012.
Identifying a
Mentor
Identify a mentor with at least ten years of work experience in public
policy, a graduate degree or PhD, international experience, and interest
in sharing advice and suggestion with an undergraduate senior. Utilize
my professional and faculty network to identify individuals and
complete informational interviews to assess the best mentor. Establish
this relationship by February 2012.
References:
Bureau of Labor Statistics, U.S. Department of Labor. “Economists.” 2010-11 Occupational
Outlook Handbook. Web. 15 Mar. 2012 < http://www.bls.gov/oco/ocos055.htm/>.
U.S. Office of Personnel Management. Salaries & Wages. Salary Table 2012-GS. Web. 15 Mar.
2012<http://www.opm.gov/oca/12tables/indexGS.asp>
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