Where do you go with a business or commerce degree? The most likely answer is directly into employment. The Higher Education Authority figures for 1996 business and commerce graduates (degree level) show that the bulk, 63 per cent, were in full-time jobs by April 1997. Almost 30 per cent went on to further study, training or research.
Only 2.6 per cent were actively seeking work. Of those who got jobs in Ireland, 31.5 per cent entered the insurance, financial, business and commercial computer services sector while 30.1 per cent entered this sector overseas.
At certificate level, the pattern is somewhat different, with two thirds of 1996 graduates engaged in further studies. However, 29 per cent entered the labour market directly while 1.9 per cent were seeking employment at the date of the survey.
Slightly more than half of those graduating with a business studies diploma in 1996 were continuing their studies, presumably to degree level, while 38 per cent had entered full-time employment. Almost 5 per cent were looking for work.
The dilemma facing most students interested in the business area is which course they should choose. Should they specialise in marketing, accountancy, finance, actuarial studies or opt for a more general business studies or commerce programme? They could also combine their business studies with computing or law or a language - and a number of college offer international and European business programmes.
Taking The Broad Road
If you are unsure which option is for you, a programme which offers a broad approach will al low you time to make up your mind. For instance, the University of Limerick has a four-year business studies degree which exposes students to a variety of business subjects and some humanities subjects in the first two years. The objective is to give a general business background, Ms Mary Sweeney, careers officer with UL says. Students specialise in third and fourth year and do a work placement.
UL's business studies with a language (French/German/Spanish/Japanese) takes the same general approach. Ms Sweeney says opportunities for business graduates have never been better. One factor is the boom in the computer industry which has repercussions right across the board, she explains.
UCC offers a commerce degree which is also very broad. Mr Seamus McEvoy, careers officer with UCC, says it gives people lots of options and a little more exposure to IT than they may get through an arts degree. Traditionally graduates go into areas such as accountancy, and IT consultancy, where firms are looking for someone who understands IT and business, he says.
Prof Seamus Collins, dean of UG's commerce faculty, says that the first two years of the college's commerce degree are broad-based. "In the final year, we ask people to select one major area or two minor areas from areas such as accounting, marketing, information systems, human resource management, logistics management, economics, business law (minor option only)."
Careers vary with about one-fifth of students going on to do post-graduate work of an academic nature or a specialised practical course such as information systems, marketing practice, accountancy.
UG's careers officer, Mr Peter Keane, is concerned at the imbalance in the jobs market with most financial and language companies locating in Dublin. "It hasn't quite transferred to the provinces in anything like the numbers we would like," he adds.
UCC also offers commerce with languages, which follows the same structure as the commerce degree. In the final year, students specialise in the language plus one other area. Language studies are practical and related to the business environment rather than literature based as in an arts programme, stresses Prof Collins.
The booming job prospects for commerce graduates are borne out by figures for UCD's commerce and BBLS graduates which show sharply rising levels of employment over the past five years. The proportion of 1996 graduates in employment was 53 per cent, compared to 49.6 per cent of 1995 graduates. Compare this with 43.2 per cent of 1994 graduates, 38.8 per cent of 1993 graduates and 24.2 per cent of 1992 graduates in employment.
TCD's Business, Economics and Social Studies degree has a common first year which includes economics, management, political science, sociology, statistics, computing and maths or law. This provides a broadly based education and includes an option to study French or German. TCD also offers direct-entry business programmes with French, German and Russian.
Direct Entry
There is a vast array of direct entry business programmes which allow students to specialise immediately in areas such as accounting, marketing, finance or actuarial studies. The following is a sample of what is on offer.
The main thing is to check the subjects offered as direct-entry programmes can be very confining if you make a mistake. On the other hand, if you know exactly what you want, these programmes offer you the chance to begin specialising from year one.
Finance At NUI Maynooth
NUI Maynooth's careers officer, Ms Loretta Jennings, says the college's finance degree is popular and successful. People go into areas such as insurance and stockbroking. It is not intended as a preparatory course for accountancy - it only gives minor exemptions.
Accounting
There is a strong demand for professional accountants, according to the professional accountancy bodies. Increasingly, the trend is for students to do a third-level qualification, then to study for the accountancy exams. There are exemptions available from some of the accountancy exams for most business studies/commerce qualifications. For instance, DIT's degree in business studies offers good exemptions from the accountancy exams.
Athlone RTC is the only college in the Republic which offers full-time accountancy studies up to and including the final examinations of the major professional accountancy bodies, according to Mr John Cusack, head of the school of business, management and general studies.
The college's three-year national diploma in professional accounting allows substantial subject exemptions from the professional accountancy bodies. Holders of the national diploma may progress to a one-year degree which prepares them for the final accountancy exams.
Actuarial Studies
UCD's actuarial studies topped the points table last year with 595* points (* random selection applied). Six hundred is the maximum possible points attainable for six subjects in the Leaving Cert. However the 595* included UCD's bonus for higher-level maths so it may be slightly inflated for the purposes of comparison. In any case, you needed to be close to genius level to secure a place. The points required for DCU's financial and actuarial maths programme were a more attainable 520.
Marketing
A huge number of marketing programmes is available. DCU offers four international marketing with languages programmes and DIT offers degrees in marketing and administration with marketing.
Cert/Diplomas
All regional technical college and institutes of technology offer business programmes, ranging from the very specialised, such as DIT's retail marketing or meat management programmes, to the general. Certs and diplomas are complete in themselves; however most colleges offer add-on diplomas and degrees for those who wish to continue their studies.
Add-On Degrees
The following is a list of add-on degrees available in the business area. Each year, the list grows so by the time students entering college in 1998 come to the end of their courses, there may be even more add-on options available:
Athlone RTC: Bachelor of Business Studies (BBS); BA in ac counting and finance; Carlow RTC: BBS in services marketing; Dundalk RTC: BBS; Galway RTC: BBS; Letterkenny RTC: BBS; Sligo RTC: BBS in finance, marketing and management; Tallaght RTC: BBS with marketing and languages with options in French, Spanish and German and two other business degrees with options in accounting and management; Tralee RTC: BBS with options in marketing and accountancy; WIT: BA in business and financial studies and a BA in legal and business studies; BA in financial services.
Some New Offerings
The CAO sent out a list of new courses last week. These were not listed in the CAO handbook but applications must be made through the CAO.
Bachelor of Business Studies with German in WIT: WIT already offers a BBS with French. The four-year BBS, course code WD080, with German is similar, with students taking their language studies through the four years. The college's BBS degree with a language was designed to give students a broad range of business skills. In third and fourth year, students can specialise in accounting, marketing, human resource management or economics and finance.
National cert in business studies, and national cert in office information systems Carlow RTC has received approval from the Department of Education to offer these courses at its Wexford and Kilkenny campuses. The college reports good opportunities for graduates with a business studies certificate - surveys show that almost all of those entering the workforce find employment within six months of graduation. Students who opt for office information systems will do a work placement in year two. The course also includes continental languages.
Post-Graduate Option
Ms Mary Sweeney, UL careers officer, says students interested in business but who do not get the points for a degree can do an other degree and a one-year postgraduate qualification. "Some times students think all is lost if they don't get their first choice. It may take a little time but they usually get into the area they want."
Dental Affairs
Courses in dentistry are offered in UCC and TCD as stated in yesterday's column. Apologies for the accompanying Take Note panel which incorrectly stated that both UCC and UCD offer dentistry.
Additional reporting by Catherine Foley
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