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2008 EDITION

InsIderGuIde

Industries and Careers for Engineers


WETFEET, INc.

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INDusTrIEs aND carEErs FOr ENgINEErs

2008 EditionISBN: 978-1-58207-765-9

PhOTOcOPyINg Is PrOhIbITED

Copyright 2008 WetFeet, Inc. All rights reserved. This publication is protected by the copyrightlaws of the United States of America. No copying in any form is permitted. It may not be reproduced,distributed, stored in a retrieval system, or transmitted in any form or by any means, inpart or in whole, without the express written permission of WetFeet, Inc.The publisher, author, and any other party involved in creation, production, delivery, or sale ofthis WetFeet Insider Guide make no warranty, express or implied, about the accuracy or reliabilityof the information found herein. To the degree you use this guide or other materials referencedherein, you do so at your own risk. The materials contained herein are general in nature and maynot apply to particular factual or legal circumstances. Under no circumstances shall the publisher,author, or any other party involved in creation, production or delivery of this guide be liable toyou or any other person for damages of any kind arising from access to, or use of, its content.

All illustrations by mckibillo

Industries and Careers for Engineers2008 EDITION

conte nts


chaPTEr

1 INTrODucTION

2 At a Glance

3 Overview

4 Employment Outlook

7 INDusTrIEs

8 Aerospace and Defense

11 Biotech and Pharmaceuticals

16 Computer Hardware

19 Computer Software

22 Consulting

26 Energy and Utilities

30 Investment Banking

33 Nonprofits and Government

37 Telecommunications

43 carEErs

44 Information Technology

46 Manufacturing and Production

49 Medicine and Health

52 Operations

54 Programming

57 Project Management

59 Supply Chain Management

61 Web Development

321

conte nts

1Introduction

At a Glance..............................2.Overview.................................3.Employment Outlook.................4.

2 WETFEET INSIDER GUIDE

Industries and Careers for Engineersc

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At A GlAnceEngineers enjoy abundant employment opportunities. To help you weigh the myriad options, this WetFeet Insider Guide offers a broad range of information about relevant industries and careers. The material falls into three chapters.• Chapter 1 provides an overview of engineering,

including popular specialties and the employment outlook for engineers.

• Chapter 2 profiles industries that hire engineering graduates in specialties ranging from aerospace to telecommunications. Each profile lists major industry players.

• Chapter 3 discusses major career areas for engineers, including information technology and manufacturing.

hOW WE arrIvED hErEIn this book, career has a specific definition: It refers to any functional occupation that spans unrelated industries, including biotech, consulting, and nonprofits. As our insiders will attest, engineering careers are generally consistent across industries, allowing employees to cross over from one vertical sector to another.

So as you study our examples and apply them to your job search, ask yourself: Is the kind of work I hope to find specific to a few industries, or does it apply to many different ones?

hOW TO usE ThIs bOOkTo get the most from this book, find the job seeker descriptions below that best match your feelings and follow the recommendations in that section.

Clueless?If you’re confused, don’t panic! Simply read all the profiles and identify those that best suit your interests, strengths, education, and experience. Avoid focusing

too narrowly on a single career or industry. But by the same token, don’t hesitate to whittle down your choices.

Indecision can paralyze you, so we recommend selecting two or three potential paths to keep the momentum going. But remember, nothing’s etched in stone. Feel free to change paths if the one you’re on isn’t working.

Getting ThereIf you generally know the kind of work you’re after and have the appropriate educational background and/or experience, your task is easier. You probably fit one of these two descriptions:

I have an industry in mind, but I’m not sure of what career role to pursue.

If this sounds like you, review the industry profiles matching your interests, then read the chapter on careers. As you study the material, think about which roles are consistent with your strengths, education, and experience. You may need to do additional research to learn about the positions that interest you—for example, by reading WetFeet’s real people profiles online (www.wetfeet.com).

Once you’ve identified several potential positions to target, use the relevant list of major industry players to get you thinking about the companies you want to consider.

I’m drawn to a specific career, but I’m unclear as to which industries I should target.

If this describes you, look for the appropriate career profile in Chapter 3, then read the industry profiles in Chapter 2. Target several industries.

Continue your research online. Start with Wetfeet.com’s career and industry profiles, which provide even more information about dozens of careers and industries. You’ll find the real people profiles especially illuminating. Be sure to check the additional resources at the end of each profile.

Don’t despair if your target career doesn’t appear in the careers chapter. That just means you’ll be

3WETFEET INSIDER GUIDE

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considering a smaller set of potential industries. Our industry profiles will help guide you to those sectors.

Although thorough, the profiles aren’t exhaustive. If your target career isn’t in an industry profile, judge whether it’s likely to be a prevalent role in that industry. If you’re unsure, check the careers section of the largest industry players’ websites to see whether those organizations offer positions comparable to what you’re seeking.

Good luck!

OvervIewAs the U.S. Bureau of Labor Statistics puts it, “Engineers apply the theories and principles of science and mathematics to research and develop economi-cal solutions to technical problems.” Most specialize in areas such as civil and mechanical engineering. You might think of these specialties as families, since many of them break down into subspecialties. Choosing one specialty doesn’t preclude you from working in another field; crossing over is common.

Professional societies recognize more than 25 engineering specialties. New ones continue to develop with advances in science and technology.

The following specialties should give you an idea of specific job opportunities.

aErOsPacE ENgINEErINgAerospace engineers develop components for aircraft and spacecraft, including planes, satellites, and missiles. They typically work for aircraft manufacturers, satellite communication companies, and defense contractors.

chEmIcal ENgINEErINgGenerally speaking, chemical engineers are experts in substances and how they react to one another or to various technical processes. Drawing on their deep understanding of molecular activity, chemical engineers design manufacturing processes for products such as detergents, gasoline, plastics, and synthetics.

cIvIl ENgINEErINgCivil engineers develop roads and bridges, dams and irrigation systems, water-treatment processes, erosion-control techniques, and public transportation systems. They also test the structural soundness of buildings, particularly large ones.

The term civil engineering indicates projects related to public works. The work itself may involve principles of mechanical engineering, electrical engineering, or other specialized fields. While most civil engineering jobs are with government agencies, some are with service firms that contract with governments and businesses.

cOmPuTEr harDWarE PrOcEss ENgINEErINgProcess engineers develop faster, smaller, and more powerful integrated circuits in a never-ending quest to make components that will do more in less space. Unlike a conventional circuit, whose components are designed separately, an integrated circuit is so tiny that the entire unit and its connections must be created at once. Through the use of chemicals and light-sensitive materials, multiple copies are etched onto a wafer, or silicon disk. The wafer is then sliced up, and the individual circuits are packaged before being inserted into a larger circuit, such as a computer motherboard.

ElEcTrIcal ENgINEErINgElectrical engineering is the biggest engineering field. It encompasses power systems and transmission, circuitry and communication, and subspecialties such as industrial robots, telephone switching systems, microprocessors, and digital broadcasting. Electrical engineers might design computer chips, circuit boards for audio equipment, broadcast systems for TV stations, and city utility services.

ElEcTrONIcs DEsIgN ENgINEErsElectronics design engineers create the circuits at the heart of all electronics hardware. Circuits may be traditional or integrated, analog or digital. One



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electronics design subspecialty is radio frequency (RF) engineering, which involves circuitry used for transmitting and receiving radio signals.

INDusTrIal ENgINEErINgIndustrial engineers work to improve efficiency, safety, and product quality in factories. Commonly charged with coordinating the efforts of mechanical and electrical engineers, they frequently rise to management positions, particularly in manufacturing industries.

maTErIals ENgINEErINgMaterials engineers adapt ceramics, glass, metals, polymers, and resins to various business and manufacturing needs. For instance, a materials engineer might develop a stronger metal for highway barriers, or a shatter-resistant glass for beer bottles.

mEchaNIcal ENgINEErINgMechanical engineers create and improve engines, energy systems, pipelines, robots, and other equipment. Some develop machines that make it easier to harvest crops or produce semiconductors. Others find new ways to design cars. In all instances, the idea is to boost safety and efficiency.

QualITy assuraNcE aND TEsT ENgINEErsQuality assurance engineers ensure that a company’s manufacturing facilities operate smoothly. They routinely design methods to monitor production lines, working closely with other engineers when products aren’t being manufactured to specification. QA engineers also study new products to determine acceptable specifications.

Test engineers, like QA engineers, set up equipment to check whether products are being manufactured correctly. When a product is faulty, either on the production floor or after it’s been returned by a customer, they look into the source of the problem, often uncovering fundamental flaws in production techniques. Test engineers also create prototypes

to ensure that a finished product will meet design engineers’ specifications.

sOFTWarE, WEb, aND IT ENgINEErINgSoftware engineers create programs for computer platforms such as Windows, Macintosh, and Unix. Web engineers are essentially programmers who develop applications specifically for the Web. Information technology specialists build and maintain networks, typically for companies and government agencies. IT engineers safeguard the reliability and security of both LANs (local area networks within offices) and WANs (wide area networks between remote locations).

emplOyment OutlOOk

The future looks bright for engineering grads, according to the National Association of Colleges and Employers’ 2006 Job Outlook Report. Electrical, chemical, and computer engineering made NACE’s list of the ten most marketable bachelor’s degrees, with mechanical engineering taking the top spot.

The Bureau of Labor Statistics expects engineering opportunities in general to keep pace with overall U.S. job growth through 2014. However, prospects will vary widely by specialty:

• Computer software, biomedical, and environmental engineering opportunities are projected to grow much faster than U.S. jobs overall.

• Opportunities in agricultural, chemical, civil, computer hardware, electrical, electronics, health and safety, industrial, materials, and mechanical engineering are expected to grow somewhat faster than U.S. jobs overall.


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• Opportunities in aerospace, marine, and nuclear engineering are expected to grow slower than U.S. jobs overall.

• Petroleum and geological engineering opportunities in the U.S. are expected to decline.

Even specialties with relatively low growth rates should present ample opportunities, especially as baby boomers retire. And just because demand for particular engineers is waning in the U.S. doesn’t mean it isn’t growing abroad.

2Industries

Aerospace and Defense...............8.Biotech and Pharmaceuticals...... 11.Computer Hardware................ 16.Computer Software.................. 19.Consulting.............................22.Energy and Utilities.................26.Investment Banking.................30.Nonprofits and Government......33.Telecommunications................37



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AerOspAce And defenseINDusTry OvErvIEWAerospace and defense manufacturers develop aircraft and spacecraft for the commercial sector, as well as military aircraft, spacecraft, missiles, tanks, and other products for the armed forces of the U.S. and various foreign countries.

The commercial side of the industry has been sluggish in the past decade. In the wake of 9/11, top commercial manufacturers lost billions of dollars and were forced to lay off tens of thousands as orders plummeted.

Today, nearly half the industry’s revenue comes from military orders. Lockheed Martin, for one, relies even more heavily on the Pentagon, deriving 85 percent of its revenue from U.S. defense contracts. Additionally, aerospace firms have large contracts with NASA—for example, Lockheed and Boeing have inked deals with the space agency that account for 3 to 4 percent of their annual revenue.

Aerospace projects typically involve high complexity and low output. The processes aren’t overly standardized, and creating products requires substantial engineering.

Projects for the military and NASA often involve cutting-edge technologies that are years ahead of what’s currently available to the general public. As an insider puts it, “Defense is R&D for the rest of the economy.”

TrENDsSoaring Defense SpendingU.S. defense spending has soared under the Bush administration. That might not bode well for the deficit, but it does have advantages if you’re looking for a career in aerospace and defense. The 2008 federal budget allocates more than $500 billion to the Department of Defense, plus $200 billion in supplemental spending for the military conflict in Iraq.

The commercial side of the industry is slowly

enjoying production gains as well. But nobody has the military beat when it comes to spending on new aircraft and aerospace equipment.

High-Tech DefenseFighting terrorism remains the top U.S. defense priority. This means less demand for traditional weapons like tanks and more for new systems that can help locate and eliminate terrorists before they strike.

In coming years, some of the most dramatic growth in the defense sector will come from makers of defense-related products in the IT and communications sectors. Particularly on the rise are innovations to assist soldiers on the front lines and in the field. This growing high-tech trend is giving midsize companies a larger slice of the defense-spending pie.

Competition from AbroadIn the U.S, there’s only one major aircraft manufacturer: Boeing. In 1997, the company swallowed its sole domestic rival, McDonnell Douglas.

Boeing’s only rival now is Europe’s Airbus, which has been steadily gaining market share. Over the past few years, the companies have traded places as the world’s leading aircraft manufacturer. Boeing regained the top spot in 2007 with respect to commercial aircraft orders, thanks partly to its fuel-efficient 787 Dreamliner, crafted largely from lightweight composites. Meanwhile, Airbus’s long-range, double-decker A380, which was supposed to be a blockbuster, met with lukewarm response and suffered production problems. In response, Airbus shook up its senior management. More recently, Airbus has rebounded, winning orders for its own fuel-efficient plane.

hOW IT brEaks DOWNCommercial Aircraft and General AviationThis market segment produces planes and helicopters, as well as components for both. In addition to big daddies Boeing and Airbus, players include corporate jet manufacturers such as General Dynamic’s Gulfstream unit, Canada’s Learjet maker Bombardier,


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Brazil’s Embraer, Textron’s Cessna subsidiary, and Raytheon.

Military AircraftThis segment manufactures our military’s birds of prey, including Boeing’s F-15 Eagle jet fighter, Lockheed Martin’s F-16 Fighting Falcon, and Northrop Grumman’s B-2 Spirit stealth bomber. Also included here are makers of transport planes and helicopters.

Missiles and SpaceThe big players here depend on U.S. and foreign government spending for the bulk of their revenue. Powerhouses in this segment include Raytheon, which produces the Hawk, Patriot, and Tomahawk missiles; Lockheed Martin, maker of the Trident II missile and provider of management services for NASA operations; and Boeing, the primary contractor for the NASA Space Shuttle and International Space Station programs. France’s Arianespace leads in the production of satellite-launching systems, which enjoy growing demand.

Ground DefenseThis segment comprises manufacturers of military tanks and transport vehicles. Perhaps its most important member is General Dynamics subsidiary Land Systems, maker of the M1A1/M1A2 Abrams tank—the U.S. military’s only battle tank—and other armored vehicles. Additional players include BAE Systems Land and Armaments, maker of the Bradley infantry fighting vehicle and artillery equipment; and Krauss-Maffei Wegmann, maker of the Leopard main battle tank.

Satellites, Electronics, and CommunicationsCommercial demand is sure to grow in this segment as countries become more technologically intertwined. Individuals and companies increasingly depend on satellite technologies for communications, global-positioning systems, and weather forecasts. Other technologies in this segment include avionics, or electronics used in planes and helicopters; information

systems, such as mission control in Houston and aircraft modeling at Boeing; missile-guidance systems; and infrared, radar, and sonar. Northrop Grumman, Honeywell Aerospace, and Raytheon are among the big players.

ShipbuildingThe role of this market segment is to build and maintain seagoing vessels such as aircraft carriers, destroyers, and submarines. The world’s largest naval shipbuilder is Northrop Grumman, which owns Newport News Shipbuilding, the sole maker of U.S. nuclear aircraft carriers. Not far behind is General Dynamics, which builds nuclear and ballistic-missile submarines, the Aegis guided-missile destroyer, and the LPD-17 amphibious assault ship. Other competitors include French giant Thales and London-based BAE Systems, the largest foreign player in the U.S. defense-contract game.

kEy JObsThe jobs in aerospace and defense are nearly countless, and the good news is that engineers will fill most of them. The following job titles and descriptions constitute only a general guide to industry opportunities.

Design EngineerThis position refers to those who design, develop, test, and implement everything from the smallest parts of ships or aircraft to the ships or aircraft themselves. Filling this role are aerospace engineers, who design planes, rockets, and components such as landing gear, wing flaps, doors, and engines; electrical engineers, who design electrical systems for planes, ships, and other industry products; and materials engineers, who design the materials needed to build the products. The work requires extensive computer modeling and tends to focus on small portions of a project—for example, the locking systems of a 747 plane’s emergency doors.Salary range: $48,000 to $91,000



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Avionics EngineerPeople in this role design aircraft navigation systems. Like their industry counterparts, avionics engineers do a lot of computer-aided design and start off working on small sections of entire systems. The job requires an avionics or electrical engineering degree.Salary range: $50,000 to $105,000

Controls EngineerAs aircraft become increasingly computer-controlled, this becomes an even hotter job in aerospace and defense. Controls engineering involves the design of systems that interpret pilots’ commands to the plane. Again, a lot of computer modeling is involved here. The position requires an aerospace or electrical engineering degree.Salary range: $51,000 to $97,000

Environmental EngineerThis has become a popular field in recent years as companies struggle to clean up environmental hazards and comply with ever-changing environmental regulations. Environmental engineers design everything from noise-abatement systems (like those walls around the local airport) to facilities that dispose of industrial waste. A degree in environmental engineering is required.Salary range: $59,000 to $96,000

Software EngineerPeople in this role write and test navigational software for missiles, planes, satellites, and sea vessels. To do this work, you’ll probably need a bachelor’s degree in electrical engineering or computer science.Salary range: $49,000 to $89,000

Manufacturing EngineerTypically mechanical engineers, people in this role design the tools and processes needed to manufacture aerospace products. The job calls for managerial as well as technical skills.Salary range: $51,000 to $87,000

Technical Support SpecialistThis job involves testing and follow-up maintenance of aerospace and defense products. Tech support specialists travel more than most of their industry colleagues because they must visit client sites. They usually have engineering or other technical degrees.Salary range: $43,000 to $84,000

InstructorInstructors train customers in the use of aerospace and defense products. To become one, you’ll probably need a college degree, an instructor’s certificate, and a pilot’s license or other proof of expertise concerning the product in question.Salary range: $74,000 to $91,000

JOb PrOsPEcTsThings are picking up in the aerospace and defense industry. The commercial aircraft sector is finally showing signs of growth, and military spending continues to rise. The Bureau of Labor Statistics expects aerospace jobs to grow 8 percent by 2014—not bad, but slower than average.

More efficient design and production techniques may slow that projected job growth. Nevertheless, there should be a fair number of aerospace engineering positions in coming years as aging workers retire. Another bright spot: Because of declining enrollment in undergraduate and graduate aerospace programs, there are more jobs on the market than newcomers to fill them.

aDDITIONal rEsOurcEsAerotech News and Review (www.aerotechnews.com) Aeroindustryjobs (www.aeroindustryjobs.com) Aerospace Industries Association (www.aia-aerospace.org) American Institute of Aeronautics and Astronautics (www.aiaa.org) Government Executive (www.govexec.com)


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INDusTry OvErvIEWPharmaceutical (pharma) companies produce and market drugs, from familiar over-the-counter compounds like aspirin to exotic prescriptions that inhibit, activate, or otherwise affect individual molecules in specific medical conditions. They also produce livestock feed supplements, vitamins, and a host of other products.

The pharmaceutical drug discovery and development industry has grown to become one of the world’s most profitable. During the past 30 years, the industry has blossomed, with billions of dollars

spent on research in biochemistry, molecular biology, cell biology, immunology, genetics, and information technology—and billions of dollars in profits earned by drug companies. Indeed, the pharmaceutical industry sold some $643 billion in drugs in 2006.

Biotechnology is a relatively new kid on the block. Simply put, biotechnology seeks to duplicate or change the function of a living cell so it will work in a more predictable and controllable way. The biotechnology industry uses advances in genetics research to develop products for human diseases and conditions. Several biotech companies also use genetic technology to other ends, such as the manipulation of agricultural crops.

Biotech opportunities largely mirror those in the pharmaceutical industry. The key difference is that biotech firms are much more focused on research because they’re still developing their initial products. Biotech firms tend to expand their marketing and sales forces when a product nears FDA approval. And it’s become common for small companies to seek alliances with larger firms that already have the requisite infrastructure in place for these functions.

Biotech and pharma have performed exceedingly well relative to other industries in recent years. Despite problems at some companies, the future looks bright overall. Among the most pressing industry issues are the ethical questions surrounding genomics and the pricing and patent practices of so-called big pharma, the pharmaceutical giants.

Still, demand for drugs is growing, fueled by an aging population and burgeoning international markets. Whether you work for big pharma or small biotech, you mustn’t get too attached to the status quo. These days, the business environment can change overnight. As one insider says, “Even in big pharma, if there’s a merger or spin-off, you can easily find yourself without a job.”

TrENDsBio BoomSeveral specialties in the biotech arena are receiving lots of attention, not to mention funding. Proteomics,

BIOtech And phArmA

Top Ten aerospace and Defense Players, by 2006 revenue

companyrevenue ($m)

1-yr. change (%)

Employees

boeing 61,530 12.2 154,000

EaDs (2) 52,025* 28.4 116,805

lockheed martin 39,620 6.5 140,000

Northrop grumman

30,148 –1.9 122,200

airbus (1, 2) 26,410 3.2 55,000

raytheon 20,291 –7.3 80,000

general Dynamics 24,063 13.3 81,000

baE systems (1, 2) 19,148 22.4 74,000

Nasa (3) 15,470 0.1* 18,693*

gE aircraft Engines(rolls-royce)

14,013 8.4 37,300

(1) 2005 figures(2) Foreign company; figures reflect worldwide sales and employment

(3) 2004 figures Sources: Hoover’s; WetFeet analysis



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the study of proteins, is thought by many to be the future of biotech. Companies such as Compugen, Large Scale Biology, and Takeda are leading the way in the daunting process of mapping the sequences of amino acids that encode human proteins. They hope to find links to diseases. Another innovation is the use of monoclonal antibodies (mAbs), proteins that attack foreign substances known as antigens. Genentech is a leader in this technology, with its non-Hodgkin’s lymphoma treatment Rituxan.

Another hot ticket is the area of biodefense. Many biotech companies are looking for ways to detect and stop biotech weapons such as anthrax and smallpox, as well as pandemics such as SARS. They’re working hard to develop antidotes, immunizations, and treatments.

A sector that may be reaping the most benefit from all this research is bioinformatics, which deals with the storage, sequencing, analysis, and management of scientific data. Sales in this market continue to climb, hovering at around $2 billion in 2007.

There’s no doubt about it: Engineers who enter the biotech field will be participating in some of the world’s most cutting-edge scientific research.

The Aging PopulationThe growing number of elderly has shifted the R&D focus of the pharmaceutical industry dramatically. By 2025, the over-65 demographic will swell to 690 million people. This age group, whose members consume three times as many drugs as younger populations, is creating significant demand for lower-cost prescriptions in the face of skyrocketing costs. The industry faces additional challenges from the Medicare prescription-drug benefit—Part D, rolled out in January 2006—which was designed to control costs for plan beneficiaries.

Big Pharma’s FrustrationsMore and more people are taking more and more drugs. Unhappy with prices that can run upward of $175 per month for a single prescription, many U.S. patients are turning to Canada and other countries, which sell comparable drugs for less. But such imports

are illegal in the U.S.—and, according to the Food and Drug Administration, unsafe.

The pharma companies hate this trend because their profits suffer if people can buy cheaper drugs elsewhere. To fight it, Pfizer, for one, has shut off supplies to Canadian drug retailers that continue to export prescription drugs to the U.S. Meanwhile, a number of states have gone after big pharma on behalf of their citizens.

Drug sales will grow 8 to 8.4 percent annually through 2015, according to the Centers for Medicare and Medicaid Services. A 2007 study by PricewaterhouseCoopers predicts that the global pharmaceutical market will double to $1.3 trillion by 2020. Great news for big pharma, right?

Surprisingly, these numbers won’t benefit the major players much. The reason? Patients overwhelmingly will be switching to generic drugs to save as much as 80 percent off the cost of brand-name medications. During the next five years, $100 billion worth of drug patents will expire.

Still More Ethical and Legal ConcernsThe biotech industry gets inundated with wave after wave of bad press. Environmental proponents have gathered evidence to support their claims that biotechnologically produced foods are unsafe, and their protests are growing louder.

Meanwhile, drug companies have come under fire for some of their clinical trial practices. Many drug companies test their products in poor countries, where it’s easier and cheaper to recruit trial participants. The big question critics have is, what happens when the tests are over and the products are deemed safe for mass consumption? Should drugmakers be allowed to cut off the supply? For big pharma, marketing drugs in nations where few can afford them is a money-losing proposition

hOW IT brEaks DOWNPharmaceuticalsThe U.S. is where most of big pharma’s multinational giants are headquartered, although several are based


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in France, Germany, and Switzerland. Those in the U.S. lie east of the Mississippi, with the greatest concentration in New Jersey.

Big-pharma companies come in two styles: diversified and nondiversified. Diversified companies, which include Abbott Laboratories, Johnson & Johnson, and Wyeth, maintain other health care–related businesses, such as consumer health–product divisions and medical-device companies. Nondiversified enterprises, including Eli Lilly and Merck, focus solely on the development and sale of drugs.

Since the turn of the century, some diversified companies have chosen to divest their nonpharma concerns in favor of the leaner and more profitable drug business. Bristol-Myers Squibb, for instance, sold Clairol, the leading U.S. hair-products company, to Procter & Gamble in 2001.

BiotechFor all the success of giants like Amgen and Genentech, most biotech shops are still small enough for people to know everyone else’s name. Few are generating revenue, let alone profit.

But a growing number of companies are joining the elite group of biotech businesses that have FDA-approved drugs on the market. Once a biotech company has a product coming to market, its jobs

expand from the primarily science-focused to include engineering, manufacturing, marketing, and sales.

Although significantly smaller than pharma, biotech is a vibrant industry. Roughly 200,000 employees work for some 1,500 U.S. biotech companies, more than 300 of which are publicly held. According to Ernst & Young’s 21st annual report on the biotech sector, revenue for public companies increased to more than $70 billion worldwide in 2006, up more than $7 billion from the previous year. Net income losses fell 37 percent in Europe and 44 percent in Canada. Net losses likely would have fallen in the U.S. as well had it not been for one-time transactional charges in a record year of deal making, with alliances involving U.S. biotech companies increasing to $23 billion.

Biotech companies tend to be located in geographical clusters, often near prominent research universities. The largest concentration of biotech companies is in California (mainly in and around San Diego and the San Francisco Bay Area), followed closely by Massachusetts. You’ll also find pockets in such far-flung regions as Washington, D.C.; Raleigh-Durham, North Carolina; and Boulder, Colorado. And biotech is increasingly international, with more companies opening in Europe and Asia.

kEy JObsA note about salaries: At large pharmaceutical companies, people in management positions earn significant bonuses in cash and stock options. At many biotech companies, all employees receive stock options, which can be lucrative if the business does well. These bonuses aren’t reflected in the salary ranges below.

Lab TechLab techs perform routine tasks such as cleaning and maintaining glassware, working with animal colonies, and operating lab equipment. Often, a high school diploma is all it takes to land such a position, but many people with college degrees start here as well.Salary range: $28,000 to $51,000

Culturally, biotech companies usually have growing pains as they move from R&D to com-mercialization. But they’re likely to remain much leaner and flatter than big-pharma enterprises.



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Research AssociateAssociates work at the bench, conducting experiments under the guidance of PhD scientists. If you have lab experience and like R&D, this is the job for you. A BS or MS in some form of chemistry or biology is required.Salary range: $48,000 to $81,000

Research ScientistAfter receiving a PhD and completing a postdoc, a scientist can get a job as a research scientist (sometimes, the initial title is associate scientist). The position involves designing and conducting experiments, as well as publishing results when appropriate.Salary range: $68,000 to $112,000

Chemical EngineerChemical engineers are the bridge between hard science and manufacturing. They design, operate, and oversee the production of chemical products. Experts in both chemistry and engineering, they translate processes that were developed in the lab into practical manufacturing applications. A BS in chemical engineering is usually required to enter the field. Companies place a strong emphasis on course work in computers, math, and physics.Salary range: $49,000 to $90,000

Manufacturing EngineerManufacturing engineers are responsible for developing, implementing, and maintaining methods, operation sequences, and processes in drug manufacturing. They estimate manufacturing costs, determine time standards, and recommend process requirements for new or existing product lines. In addition, they may maintain records and reporting systems to coordinate manufacturing operations. Manufacturing engineers usually hold a BS in electrical, manufacturing, or mechanical engineering.Salary range: $53,000 to $88,000

Process EngineerProcess engineers work with chemical and manufacturing engineers during the development process to make sure that a given drug can be manufactured effectively from both a technical and financial standpoint. The job involves a good deal of paperwork and administration, since process engineering requires coordination and communication. To qualify for the position, applicants usually need a BS or MS in electrical or mechanical engineering.Salary range: $55,000 to $85,000

Programmer/AnalystThis position covers many different jobs. But basically, programmers/analysts are computer people. There’s no getting around complex database work, particularly for clinical trials, which can involve thousands of patients (sometimes in several countries) with elaborate medical histories and completely different responses to each of the drugs and placebos tested. And the computational demands of post-genomic research are enormous, creating demand for job seekers who have backgrounds combining science with computers.Salary range: $47,000 to $101,000

JOb PrOsPEcTsAccording to the Bureau of Labor Statistics, employment in biotech and pharma will increase 24 percent by 2014, making it one of the fastest-growing

Biotech R&D will continue to grow as companies seek young minds who can lead the way in combating diseases through gene therapies.


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key Pharmaceutical companies

company2006 revenue ($m)

1-yr. change (%)

Employees

Johnson & Johnson (1)

53,324 5.6 122,000

Pfizer 48,371 –5.7 98,000

glaxosmithkline (2) 45,479 7.2 101,802

sanofi-aventis (2) 38,934 15.3 100,289

Novartis (2) 36,749 13.0 100,735

roche (1, 2) 34,465 27.7 74,372

astraZeneca (2) 26,475 10.6 66,000

merck 22,636 2.8 60,000

abbott laboratories

22,476 0.6 66,663

bristol-myers squibb

17,914 –6.7 43,000

(1) Highly diversified company; figures include departments that operate in other industries

(2) Foreign company; figures reflect worldwide sales and employmentSources: Hoover’s; WetFeet analysis

manufacturing sectors. As long as people keep getting sick, the industry will continue developing drugs and treatments.

In demand are people with scientific backgrounds, particularly those with the rare combination of science and computer skills required for the mushrooming field of bioinformatics. There’s also a need for those who combine scientific training with managerial ability.

Those entering this field enjoy the satisfaction of knowing they’re developing treatments that could make a radical difference in the lives of thousands, even millions, of people.

key biotech companies


1-yr. change (%)

Employees

amgen 14,268 14.8 20,100

genentech 9,284 40.0 10,533

genzyme 3,187 16.5 9,000

gilead sciences 3,026 49.2 2,515

biogen Idec 2,683 10.8 3,750

merck serono (1, 3) 2,586 5.2 4,826

applera (2) 1,949 7.0 5,090

medImmune 1,277 2.6 2,538

Invitrogen 1,264 5.4 4,835

(1) Foreign company; figures reflect worldwide sales and employment(2) 2007 figures(3) 2005 figures

Sources: Hoover’s; company annual reports; WetFeet analysis

aDDITIONal rEsOurcEsBioSpace (www.biospace.com) Biotechnology Industry Organization (www.bio.org) BioSpace (www.biospace.com) MedZilla (www.medzilla.com) Pharmaceutical Online (www.pharmaceuticalonline.com) The Pharmaceutical Research and Manufacturers of America (www.phrma.org) PharmaLive (www.medadnews.com)



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cOmputer hArdwAreINDusTry OvErvIEWComputer hardware means computers with their central processing units (CPUs), memory, and storage—in other words, the machines that run an operating system and application software—and their attached peripherals (keyboards, mice, printers, and so on). Also included in our definition are the servers, electronic security, and storage devices of corporate data centers.

Computer hardware and software are useless without each other. Working together, however, they store, modify, and exchange data in words, pictures, and numbers—everything from correspondence to news photos; drawings of jet aircraft to shipping manifests; news releases to financial reports; census statistics to stock quotes; maps to email.

The competition among computer hardware companies is particularly intense. In the traditional PC market, hardware makers face downward price pressure and narrowing profit margins. Meanwhile, the race is on to develop innovative products, such as tablet PCs and ultraminimal desktops. If a company falters, it instantly becomes a takeover target. No doubt about it: Computer hardware is a cutthroat business.

Despite its worldwide reach, the hardware industry has definite geographic concentrations. High-tech companies tend to be located near major colleges and universities; many owe their very existence to research at those learning institutions. Silicon Valley isn’t far from San Jose State, the University of California at Berkeley, and Stanford University. Route 128 is close to the educational mecca of Cambridge, Massachusetts. Research Triangle in North Carolina and the area around Austin, Texas, are two more good examples.

Most major computer hardware corporations reach across national borders. International sales normally account for a large percentage of most hardware

companies’ bottom lines, and China, India, Japan, and other Asian countries are hotbeds of hardware manufacturing and design.

TrENDsSmaller and SmallerAs advancing technology makes it cost-effective to produce more complex chips in increasingly compact sizes, computer hardware makers can bring smaller and smaller devices to market. Think flat computer display screens. Think ever-thinner, ever-lighter laptop computers. And so on.

New Gaming PlatformsGaming hardware companies are constantly looking to improve their gaming consoles. The latest consoles feature high-def graphics, speedy performance, and enhanced audio. At the time of its launch, Microsoft’s Xbox 360, which came out in late 2005, was the most advanced console on the market. However, Sony’s PlayStation 3 console, which was released in 2006, is technically more advanced—not to mention more costly. Nintendo’s Wii console, also released in 2006, is less powerful than the Sony and Microsoft console offerings. But it’s garnered its share of marketplace buzz because of its motion-sensitive controller.

ConvergenceIs it a DVD player? A stereo system? A photo scrapbook? A film-editing station? A telephone? No, it’s today’s PC or laptop.

These days, personal computers are able to do more and more. This means plenty of work for computer hardware professionals, as they make products with new, more varied capabilities. On the other hand, it also means new sources of competition, such as telecom companies producing newfangled cell phones that let users watch videos and surf the Internet, and consumer electronics companies producing personal entertainment systems.


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Outsourcing In the hardware world as elsewhere in business, an increasing number of manufacturers are outsourcing work overseas. Some companies are doing only top-level design in the U.S., leaving production and more basic design tasks to cheaper labor in China, the Philippines, and other foreign countries. This means that product managers and project heads may have to travel a lot more than in previous generations; it also means that many North American jobs are being lost. Increasingly, the task of U.S. computer companies is to be expert in marketing and distribution while simply outsourcing manufacturing and portions of the design work.

ConsolidationIndustry consolidation makes sense as computers become familiar products that require fewer different design and manufacturing approaches. The idea is to let a few giant companies manufacture more units at lower cost while sharing marketing and distribution expenses across a larger organization.

LinuxThis cheap, open-source operating system software (Linux code is available for free on the Web) has moved into the mainstream. Wishing to lower costs, business users of many stripes are looking to Linux as an alternative to more expensive operating systems such as Windows and Unix. At the same time, Intel has begun to optimize its chips for Linux in addition to Windows. This means the PC and server products containing those chips—from hardware manufacturers such as Dell, Hewlett-Packard, and IBM—can handle Linux.

hOW IT brEaks DOWNFor job seekers, one way to segment the industry is by the type of computer hardware the company produces. Other differentiating factors include industry and application focus and sales-and-distribution methodology: mail order, Internet, or retail.

PCs (Desktops and Laptops)The PC market is perhaps the most visible segment of the high-tech hardware market, with computers becoming ubiquitous at work, home, labs, and school. Many of the desktop and portable computers made by the established players—such as Apple, Dell, and Hewlett-Packard—are powerful enough to replace high-end specialized workstations and may be used for 3D rendering, molecular modeling, computer-aided design (CAD), and video editing. Portable computers represent a growing share of the PC market.

Peripherals A peripheral is usually understood to mean an external product added to a computer, such as a new mouse, speaker set, or flash drive (think manufacturers like Kensington, KeyTronic, and Logitech). The term extends to monitors, scanners, and printers. However, a peripheral can also be something added into a computer, such as a higher-performing video or sound card.

Servers There are many types of servers—those boxes that, among other things, hold the Internet together. In addition to Web servers, which relay all the HTML and image files that end up on your screen, there are LAN and WAN servers, file servers, mail servers, database servers, and more. Whenever two computers (termed clients in this context) connect over a network, a server is involved.

kEy JObsJunior EngineerThose in this entry-level role are the foot soldiers of engineering. As a junior engineer, you’re not so much coming up with ideas as implementing solutions developed by your superiors. Still, the job is an important first rung to a more specialized, higher-paying engineering position. Duties may include software programming, which involves writing the code built into the hardware system.Salary range: $40,000 to $55,000



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EngineerThe middle ground between junior engineer and system architect, this position encompasses 95 percent of the engineering workforce.Salary range: $55,000 to $85,000

Systems EngineerThis position typically is filled by an engineer who combines technical expertise with strong people skills. A systems engineer, who must know the technology inside out, assists the sales staff in managing the relationship with the potential buyer. An SE may be paired with an individual salesperson or with an entire sales team.Salary range: $75,000 to $105,000

Technical Support SpecialistThe technical support staff fields the never-ending barrage of questions from businesses or consumers who recently purchased a product. With computer companies trying to use top-flight customer service to separate themselves from the pack, tech support positions are becoming increasingly important. Although a technical background helps in this role, it’s not a prerequisite. Patience and the ability to soothe the confused and frustrated matter far more.Salary range: $30,000 to $85,000

Technical WriterA technical writer is responsible for translating technical concepts into readable prose for user manuals and other types of documentation. Technical writers need the ability to explain a complicated subject in clear, concise language that all readers will understand. This is a good choice for you if you’re a stickler for details who possesses excellent organizational skills.Salary range: $35,000 to $85,000

JOb PrOsPEcTsAlthough this isn’t the most robust economic sector at the moment, it still presents a fair number of opportunities for engineers, especially those with technical expertise and a computer science or computer engineering degree.

The Bureau of Labor Statistics projects that the U.S. job creation in this sector will lag behind overall job growth through 2014. You can thank the increasing automation of manufacturing processes, as well as the migration of production jobs overseas. Still, this is a large industry, and there will always be business and tech jobs available for people at the top of their game.

aDDITIONal rEsOurcEsAssociation for Computing Machinery (www.acm.org) Computer & Communications Industry Association (www.ccianet.org) Information Technology Association of America (www.itaa.org) Virtual Institute of Information (www.vii.org)

key computer hardware manufacturers


1-yr. change (%)

Employees

hewlett-Packard (1) 91,658 5.7 156,000

Ibm (1) 91,424 0.3 355,766

hitachi (1, 2, 3) 87,107 8.3 306,876

sony (1, 2, 3) 70,513 11.0 158,500 (4)

Dell 55,908 13.6 66,100

Toshiba (1, 3) 53,945 –0.6 172,000

Fujitsu (1, 3) 40,746 –8.0 158,491

NEc (4) 39,266 –5.1 154,786

canon (1, 3) 34,917 9.4 118,499

cisco systems 28,484 14.9 49,926

(1) Highly diversified company; figures include departments that operate in other industries

(2) 2007 fiscal year(3) Foreign company; figures reflect worldwide sales and employment

(4) 2005 figuresSources: Hoover’s; WetFeet analysis


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cOmputer sOftwAreINDusTry OvErvIEWAlthough only a few decades old, the computer software industry has a storied past. We’ve all heard the tales of iconoclastic young entrepreneurs who started companies in their garages and went on to become some of world’s richest and most powerful businesspeople. Indeed, the names of Bill Gates and Steve Jobs are better known in many circles than those of the latest pop music stars.

Today, programming’s adventurous and maverick past is still alive. Throughout Silicon Valley, as well as in other tech hotspots like Boston and Austin, visionary software developers are trying to create the next killer app.

Computer software products accomplish discrete tasks and are sold as complete packages. Categories include operating systems such as Windows and Linux, applications like word processors and Web browsers, and utilities such as antivirus programs and pop-up blockers.

Most software purchases are made by businesses seeking better tools to run operations, keep records, and monitor cash flow. It’s not always the quality of the code that determines the most successful software, but how well that software meets a business need. Probably the quickest way to talk yourself out of a job in this segment is to make the technology seem more important than the end user.

TrENDsMultiplying PlatformsEach year brings new devices that need software to tell them how to operate. Such products include global positioning systems, cell phones, personal digital assistants, and so-called smart household appliances. Wireless networking technologies add to the demand. The result? Plenty of work for good software developers.

Shipping Jobs Overseas Dampening the job outlook is the trend among software developers to outsource work to cheaper labor overseas. For instance, India has a large population of educated, tech-savvy folks willing to work for a fraction of what passes for an acceptable salary in the U.S. Other outsourcing hotspots exist in Russia and the Asia-Pacific region. In general, most exported tech jobs have been at the lower levels; however, there’s a trend toward sending more skilled tech jobs overseas. Still, at least for the time being, if you’re good at what you do, the explosion in software development should create plenty of job opportunities for you in the U.S.

Software as ServiceTraditionally, software has been sold in a box or downloaded for installation on a particular computer. Today, software is increasingly sold as a service: The software is hosted on the vendor’s server and provided to users who access it over the Internet for a periodic subscription fee. Software companies of all kinds, even those that make word processing and spreadsheet programs, are experimenting with this model. One of its advantages is that improvements can be made to existing software programs on an ongoing basis; if there’s a bug, the vendor can fix it immediately instead of making users wait for the next official product upgrade.

Open Source Linux system software is finally making a splash in the business world. It’s the centerpiece of the open-source movement, which champions free software for all and encourages developer contributions. An increasing number of companies, including Credit Suisse and Merrill Lynch, are adopting Linux to avoid the cost of software licenses and upgrades. What’s more, many organizations and even countries feel that Linux adoption is a way to curb Microsoft’s monopolistic power. Computer makers such as Dell and Hewlett-Packard have responded by shipping PCs and servers loaded with Linux. And big business-software providers such as BEA Systems, SAP, and Veritas have made products that run on Linux.



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GamingAmericans now spend more money on video games than movie theater tickets. Business is booming for video game giant Electronic Arts, which cracked the $3 billion revenue threshold in 2005. Lots of other players in this space are making a pretty penny as well. Meanwhile, sales of professional animation software, which can cost thousands of dollars, continue to climb. And burgeoning demand for gaming software on cell phones and other non-computer platforms has given a further boost to this sector. Creative types who want to apply their talents to making games can find plenty of opportunities with companies that design entertainment software.

hOW IT brEaks DOWNThe computer software market is most commonly segmented according to the type of work a product does. Several of the major market segments are listed below, along with the names of a few companies that are active in each.

System SoftwareAlthough Microsoft Windows is by far the dominant example in this category, it’s not the only one. Apple’s Mac OS X is still alive and well, while Linux is gaining a reputation as a reliable alternative in business settings. Red Hat has actually made a business out of packaging and providing support for a version of Linux, which itself is available free on the Internet.

ProductivityProductivity software includes word processing, spreadsheets, presentations, database management, graphic design, and other applications that help people do their jobs. Key players are Adobe (Photoshop, Illustrator, InDesign), Microsoft (Word, PowerPoint, Excel), and Autodesk (CAD applications).

EnterpriseThis term denotes the large, expensive software packages sold by the likes of IBM, Oracle, and SAP to keep corporate users’ global operations humming. It

also refers to niche software packages sold by smaller, specialized players.

EducationEducational software includes products that can help your kids read, teach you a foreign language, and stimulate logical thinking. This category also offers children’s educational games, the as-yet slow-to-catch-on electronic book industry, teaching resources, and music instruction. Disney, Microsoft, and Scholastic are among the key players.

GamingA highly competitive and extremely broad market segment, this includes role-playing games, driving and flight simulation, sports, strategy games such as chess, and children’s games. Several key players are Activision, Electronic Arts, Take-Two, and THQ.

Many small, thriving studios use the bigger players for distribution and marketing. Moreover, big-name individual designers work for game companies on a project basis.

kEy JObs Software EngineerSoftware engineers are programmers who write the code that makes the software products run. Tasks include implementing and debugging the software. Senior software engineers do some of these same things but also make higher-level design decisions. To obtain a position, applicants typically need a computer science degree or equivalent programming experience.Salary range: $45,000 to $105,000

Product SpecialistAs a product specialist, you master a specific area within the software development process and attend to relevant projects. For instance, you might take on the area of customer service and help develop customer service procedures for titles published by your company. This is a common starting point for recent college grads who want to break into the software world.Salary range: $40,000 to $75,000


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User Interface (or Experience) Designer/Content EngineerThis role has several titles and in the past was often shared by the project manager, senior programmers, and others on the development team. But now there’s often one person in charge of the user experience and logic flow—how all the text, graphics, sound, and other information fit together.

Like a magazine with a very good art director, well-designed content feels natural and inviting. Software companies are increasingly willing to spend time and money finding just the right writer/artist/interface expert with significant technical experience for this slot.Salary range: $50,000 to $95,000

Technical Support SpecialistTech support people staff the phones and answer questions from consumers who recently purchased the product. If you don’t have a tech background, this is a great way to break into the industry, and recent college grads from various backgrounds (and with excellent people skills) can do well in this area.Salary range: $30,000 to $85,000

Technical WriterIf you have a strong writing background and an aptitude for technology, this could be the job for you. Computer science majors with a flair for writing might also take a look at this position. Technical writers produce materials that support the software products, such as product documentation and marketing white papers.Salary range: $35,000 to $85,000

Software Architect or DesignerThis senior-level position requires someone with a comprehensive grasp of software design and an understanding of industry trends. Software architects make key decisions about how to put products together; they also oversee a vast array of titles and a large staff.Salary range: $90,000 to $125,000

JOb PrOsPEcTsNow that software development can be outsourced to many politically stable, English-proficient countries with advanced communications infrastructures, the expanded supply of technically skilled (and low-cost) workers has blunted demand. Still, don’t underestimate the power of the local: It’s hard to collaborate efficiently with workers many thousands of miles away. Many software projects will stay in this country, especially those with tight deadlines, rapidly changing requirements, and applications specific to U.S. regulations and culture. Take heart from the Bureau of Labor Statistics, which predicts that occupations in the computer software industry will be some of the fastest-growing through 2014.

Much of the activity in computer software is happening in Silicon Valley, but you might want to check out opportunities in other high-tech regions, including Atlanta, Austin, Boca Raton, Boston, Dallas, Denver, Minneapolis, New York, and the Research Triangle area of North Carolina.

Of course, it takes more than technical talent to build a successful software business. Sales, marketing, and customer service provide many jobs for those who prefer thinking and talking about software to actually creating it. On the technical side, high-level software architecture skills are likely to become more valuable as the nuts and bolts of software projects are outsourced overseas.

aDDITIONal rEsOurcEsThe Software & Information Industry Association (www.softwarecenter.cmu.edu) National Association of Software & Service Companies (www.nasscom.in)



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cOnsultInGSo you’re about to graduate, and you think you want to be a management consultant. Or, more likely, you think you’ll spend a few years as a consultant and then move on to other things. You’re not alone. Consulting firms are traditionally among the largest employers of candidates from top undergraduate and graduate engineering programs. Competition for jobs is stiff every year.

More than half the people in top universities flirt with the idea of becoming a management consultant. It’s a high-paying, high-profile field that offers students the opportunity to assume a lot of responsibility right out of school.

In essence, consultants are hired advisers to companies. They tackle a wide variety of business problems and provide solutions for their clients. Depending on the size and strategy of the client, these problems can be as straightforward as researching a new market, or as complex as rethinking the client’s organization. No matter what the engagement, management consultants wield a great deal of power. They can advise a client to acquire a related company worth hundreds of millions of dollars, or to reduce the size of its workforce by thousands of employees.

One word of clarification: Consulting is a big, one-size-fits-all term that includes virtually any form of advice-giving. This industry profile focuses primarily on management consulting. Often called strategy consulting, this industry segment includes firms that specialize in providing advice about strategic and core operational issues. Although some of the world’s highest-profile firms populate this segment, they’re not the only ones doing consulting.

TrENDsIT Is ItBy far the fastest-growing industry sector is information technology consulting. This broad segment covers e-commerce, telecommunications, intranet and Internet strategies, hardware and software systems design and implementation, and website design and operation. Companies of all sizes and industries are looking to IT consultants for help in choosing, acquiring, implementing, and maintaining a vast array of new technologies.

Spending on IT consulting is rising in a big way as companies look to technology to cut costs and drive growth. According to Plunkett Research, IT and systems consulting revenue accounts for 60 to 70 percent of the consulting market. Companies are also seeking better ways to manage vast amounts of customer and business data, not to mention strategies to keep that information safe and secure.

Public Sector DollarsAfter 9/11, a number of firms, including Accenture,

key computer software companies


1-yr. change (%)

Employees

microsoft (1) 44,282 11.3 71,000

Ibm software 18,204 8.2 N/A

Oracle (2) 17,996 25.1 56,133

saP (3) 12,408 23.1 39,355

automatic Data Processing

8,882 4.5 46,000

symantec (2) 5,199 25.5 17,100

sega sammy holdings (3)

4,705 –1.9 6,416

Fiserv 4,544 11.9 23,000

sungard Data systems

4,323 8.0 16,600

ca (2) 3,943 3.9 14,500

1) Highly diversified company; figures include departments that operate in other industries

(2) 2007 figures(3) Foreign company; figures reflect worldwide sales and employment

Sources: Hoover’s; WetFeet analysis


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American Management Systems, BearingPoint, EDS, IBM Global Services, and Perot Systems rushed to offer homeland security consulting. Government entities at the local, state, and federal levels are shelling out big bucks for IT, security, and HR consulting services. In 2005, Booz Allen Hamilton ranked ninth among Washington Technology’s “Top 100 Federal Contractors,” earning more than $1.7 billion in federal contracts.

The Challenge to OutsourcingOf the trends affecting the consulting business, the shift toward outsourcing is perhaps the most significant. Outsourcing noncore operations lets companies of all sizes focus on their business. This trend represents the biggest growth opportunity for business-services firms. Already a $300 billion market by Gartner’s estimates, outsourcing is expected to pick up even more momentum in the next few years.

While outsourcing has been one of the greatest revenue builders for many IT firms like Accenture, a number of India-based firms, such as Infosys and Tata Consultancy Services, are now major players. They can charge $30 an hour versus the $150 that Accenture or IBM Global Services would bill.

To counter their overseas rivals, some consulting firms are throwing in hardware and other consulting services to sweeten their bids. Still, it often isn’t enough: Indian firms have advantages in both cost and quality.

Expect North American firms to keep acquiring Indian firms. That’s what IBM did in 2004 with

Daksh eServices, one of the world’s largest call-center operations.

Competition from Computer CompaniesComputer hardware and software firms continue to elbow their way into consulting through business process outsourcing. That’s when service firms take over management of noncore business functions, such as purchasing and accounts payable. Web applications have made it increasingly easy to outsource this work and to manage it remotely. This trend began with IBM Global Services, which now earns more than half its $91 billion in annual revenue from consulting services. Dell, Hewlett-Packard, Oracle, and SAP are a few of the hardware and software firms following Big Blue’s lead by beefing up their consulting services.

hOW IT brEaks DOWNThese days, it seems like just about everybody and her brother is a consultant. “Hold on,” you say. “How can Aunt Suzie be doing the same thing as those blue suits at the posh New York offices?” All of them may really be consultants, but you can bet they’re not all doing the same thing. Just as there are many different sorts of doctors, there are consultants with all manner of expertise and specialty.

To help you get a better handle on the options, we’ve categorized consulting firms by segment. But be aware that firms in one group compete directly with players in other segments.

Industry EliteThis group has a few top strategy firms and a host of smaller challengers. Its members primarily provide strategic or operational advice to top executives in Fortune 500 companies. For this, they charge the highest fees and enjoy the most prestige. They also have the fattest attitudes, work the most intense hours, and take home the most pay. Representative firms include A.T. Kearney, Bain & Company, Booz Allen Hamilton, The Boston Consulting Group, Deloitte, and McKinsey & Company.

Companies will increasingly turn to consulting firms to manage their outsourcing efforts.



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Boutique Strategy FirmsSome firms specialize along industry or functional lines. Although often smaller than their elite counterparts, they’re highly regarded for their operations and strategy work. Representative firms include Cornerstone Research (litigation support), Gartner (high-tech research), and PRTM (high-tech operations).

Technology and Systems Consulting FirmsFirms here typically take on large projects to design, implement, and manage their clients’ information and computer systems. Technology consulting often occurs in the bowels of the client organization. In general, this kind of consulting job requires large teams of people who actually do the computer work. As a result, there are usually more opportunities for people from undergraduate or technical backgrounds than for those with MBAs. On the downside, the work is less prestigious than what you’ll find at strategy consulting firms. Members of this group include Accenture, BearingPoint, Capgemini, Computer Sciences Corporation, EDS, HP Technology Solutions Group, IBM Global Services, Novell, Oracle, SAP, and Synopsys.

Human Resources ConsultingThis can include designing an employee evaluation and compensation system, conducting organizational effectiveness training, and helping an organization through a merger or other significant change event. HR consultants often work as long and travel as much as their counterparts in general management consulting. Representative firms include Accenture (Change Management Group), Buck Consultants, Hay Group, Hewitt Associates, Mercer Human Resource Consulting, Towers Perrin, and Watson Wyatt.

kEy JObsRoles basically boil down to analyst (research associate or staff consultant at some firms), consultant (or senior consultant), manager, and partner or VP. While MBAs typically dominate, consulting firms are increasingly

hiring people with technical and engineering expertise as projects grow more complex.

A note about salaries: In the consulting world, signing and year-end bonuses are common and often large. These figures vary widely and aren’t reflected in the salary ranges listed below.

Analyst/Research Associate/ Staff ConsultantThis is the position at the bottom of the professional pyramid, held mostly by young, talented, and hungry college graduates. Many firms structure this position to last two to three years, after which the analyst is expected to move on—perhaps to graduate school or another employer. However, others let employees progress up the management ladder without ever leaving.

The workload can be demanding. It often includes field research, data analysis, customer and competitor interviews, and client meetings. In IT, analysts may do heavy-duty programming.Salary range: $50,000 to $75,000

Associate/Consultant/Senior ConsultantThe typical port of entry for newly minted MBAs, this position is increasingly opening up to non-MBA graduate students as well. Senior consultants often perform research and analysis, formulate recommendations, and present findings to the client. At many firms, they have to implement those great ideas, too.

Although this is usually a tenure-track role, a fair number of consultants will leave the business after two or three years to pursue entrepreneurial or industry positions.Salary range: $70,000 to $130,000

ManagerAfter a few years, a senior consultant will move up to manager. As the title implies, this usually means leading a team of consultants and analysts toward project completion. Some firms may hire MBAs with significant work experience directly into the manager


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position, particularly in their IT practices. In addition to overseeing the project team, the manager will typically be the point person for client interactions.Salary range: $70,000 to $150,000

Partner or VPCongratulations! You’ve forded the River Jordan of consulting and arrived at the Promised Land. Note that some firms further subdivide partners into junior and senior grade. And if you aspire to it, there’s always that chairman or CEO position.

As a partner, one of your big responsibilities will be to sell new work. Fortunately, as with other big-ticket sales jobs, the pay can be rewarding.Salary range: $250,000 to several million dollars at leading firms

JOb PrOsPEcTsWhen the economy hit a wall in 2000, the consulting industry crashed hard, too. But fear not: Lately, the sector has enjoyed steady, solid growth. According to Consultants News, revenue at the largest firms grew more than 15 percent from 2002 to 2005, the biggest three-year jump since the ’80s. Several firms are privately held and don’t release their sales figures annually, but a number of firms continued their strong growth in 2006.

The Bureau of Labor Statistics projects that the industry will grow 60 percent by 2014. In fact, consulting is the fifth fastest-growing industry. Demand will be highest for technical and global expertise. In years to come, knowledge of the complexities of business processes will be particularly attractive to hiring managers.

What does this mean for job seekers? The industry growth rate will certainly mean more jobs, but competition will remain stiff. Consulting is one of the sexiest industries for recent grads, who are drawn by the prestige and high salaries. However, you may have an edge: The training and course work typical for engineers is invaluable in honing the analytical and problem-solving skills needed to succeed in the consulting game. As technology continues to drive growth in this industry,

those with cutting-edge skills will be in demand.

aDDITIONal rEsOurcEsAssociation of Management Consulting Firms (www.amcf.org) Consulting Central (www.consultingcentral.com) Consulting Magazine (www.consultingmag.com) Consulting Times (www.consulting-times.com) The Duke MBA Consulting Club (www.fuquaconsulting.com) Institute of Management Consultants USA (www.imcusa.org) Kennedy Information (www.kennedyinfo.com) The McKinsey Quarterly (www.mckinseyquarterly.com)

Top Ten North american consulting Players, by 2006 consulting revenue

Firm2006 revenue ($m)

1-yr. change (%)

Employees

Ibm global services (1)

47,357 2.5 50,000

Electronic Data systems

21,268 7.6 131,000

accenture 18,228 6.6 140,000

computer sciences (2)

14,857 1.6 79,000

capgemini 10,159 23.3 67,889

Deloitte consulting (1)

7,814 N/A 33,000

mercer 4,225 11.0 15,000

mckinsey & co. (1) 3,800 20.6 12,900

bearingPoint 3,444 1.6 17,400 (1)

booz allen hamilton (1)

3,000 11.1 17,000

(1) 2005 figure(s)(2) 2007 figure(s)

Sources: Consultants News, August 2006; Hoover’s; individual firm websites; WetFeet analysis



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enerGy And utIlItIesINDusTry OvErvIEWThe energy and utilities industry faces a dilemma: How does it meet rising demand without depleting the reserves on which its business relies?

Complicating matters is the fear of global warming. While the U.S. under the Bush administration calls for increasing the supply of oil and other fuels, the rest of the industrialized world aims to limit greenhouse gas emissions under the terms of the Kyoto Protocol.

Energy and utilities companies will have to innovate and take risks over the long haul—whether that means finding new oil reserves, running giant wind farms, producing cheaper solar cells, developing next-generation nuclear facilities, or focusing on alternative energy sources for transport. But whatever these players do, they won’t be leaving the scene anytime soon. Indeed, several of the top producers generate revenue in the hundreds of billions of dollars annually.

TrENDsConsolidationTo enhance economies of scale and increase energy reserves, the big have gotten bigger. First, British Petroleum merged with Amoco in 1998 to form BP. The following year, Exxon acquired Mobil to form Exxon Mobil, and France’s Total acquired Belgium’s PetroFina to create Total Fina. BP bought Atlantic Richfield in 2000, and Chevron gobbled Texaco in 2001. In 2002, Conoco and Phillips Petroleum merged to form ConocoPhillips. Then Shell and Royal Dutch Petroleum merged in 2004 to form Royal Dutch Shell. In 2005, Chevron acquired Unocal. The point: If you go to work in the oil sector, don’t expect to serve the same corporate master your entire professional life.

BiodieselBiodiesel, a fuel derived from vegetable oil, gets a lot of press. President Bush referred to it in his 2006 State of the Union address as a particularly promising energy option. Meanwhile, country musician Willie Nelson has started a company to make and sell it, hoping the public will catch on to the idea. But critics argue that the cost of producing enough biodiesel to support a mass market would be prohibitive.

Terrorism and Political UnrestMideast turmoil—whether it be the war in Iraq, terrorist bombings in Lebanon and Saudi Arabia, or violence between Israel and the Palestinians—threatens to destabilize the oil market. Volatile prices make it harder for energy and utility companies to predict revenue and create long-term business plans.

Hurricane KatrinaHuman conflict isn’t the only unsettling variable. In 2005, Hurricane Katrina reminded the world that natural disasters can also wreak havoc on the energy market. Katrina took oil refineries offline for months, causing prices to skyrocket.

Turning Disaster into Profit Despite the uncertainty, oil companies reported record profits in 2005 and 2006, thanks to higher fuel prices. That’s good news for shareholders, not consumers.

Even nuclear power is getting another shake as environmentalists weigh the risk of radioactivity against the certainty of increased greenhouse gas emissions.


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Alternative EnergyThe quest is on for renewable energy. In the case of biodiesel, solar energy, and wind power, tax breaks and other government subsidies play an important role in making these still-expensive alternatives competitive. A number of states have adopted standards that require utilities to buy a set portion of their electricity from renewable sources.

Playing PoliticsThe oil companies don’t retain armies of lawyers and lobbyists—or make huge political contributions—for nothing. Because there are strong ecological arguments against oil extraction in places like Alaska, they must depend on their legal and political clout to protect their financial interests. A good example of politics at work can be seen in Florida, where the federal government agreed to purchase their rights to oil fields off the Gulf Coast to prevent drilling there.

New Demand from AsiaAt 5.5 million barrels a day, China is already the world’s second-largest consumer of oil. An International Energy Agency report predicts that by 2030, China will import as much oil as the U.S.

hOW IT brEaks DOWNAmerica’s energy companies are clustered in the

oil-patch region of Louisiana and east Texas, although many have major offices in Los Angeles and other coastal cities. The big oil companies are global; Exxon Mobil alone has a presence in more than 100 countries. By contrast, utilities are generally more local in nature, usually doing business in a single city or region—although with deregulation, this is beginning to change. The vast industry can be broken down as follows.

Integrated Oil and Natural Gas We have John D. Rockefeller and his Standard Oil Company to thank for the vertical integration of the world’s largest oil and energy companies. His empire has long since been dispersed, but its legacy remains in

the form of giants such as Chevron, ConocoPhillips, and Exxon Mobil, which are involved in every phase of petroleum production and sales. Big oil is a major force in the world’s economy, not to mention politics. However, it’s susceptible to global surpluses and plummeting oil prices when members of OPEC—the Organization of the Petroleum Exporting Countries, the world’s leading oil cartel—can’t agree to restrain production.

Production and consumption of natural gas have grown far more rapidly in recent years, partly because of gas’s environmental advantage over oil. Also, natural gas is relatively less expensive as an electricity-generating fuel—an advantage that’s been magnified by the competitive nature of the electricity industry since deregulation.

Equipment and ServicesSchlumberger, Halliburton, and others provide the equipment and services for the oil, coal, and gas companies to extract those products. This once-booming sector took a hard hit in the late ’90s because of overproduction. While the largest companies will survive, boutique concerns such as Dawson Geophysical, a technology expert, are more vulnerable.

CoalMainly used to generate electricity, coal faces increasing demand from developing countries such as China and India. True, the 1990 Clean Air Act calls for cuts in high-sulfur coal production, and there are growing worries about global warming. Nevertheless,

While big oil is increasingly involved in the natural gas business, there are still specialists such as Questar.



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coal production and consumption should remain robust for some time to come.

UtilitiesMore than 3,000 utilities in the U.S. deliver electric power to homes and businesses. Major players include Southern Company, the nation’s largest investor-owned utility, as well as regional giants such as Consolidated Edison in New York and Pacific Gas and Electric in California. The balance of the industry comprises federal agencies such as the Tennessee Valley Authority; local, publicly owned utilities, which are usually run by municipal or state agencies; and rural, nonprofit electric cooperatives, which serve small communities.

NonutilitiesAlthough they’re in the business of electric power generation and distribution, nonutilities serve large individual clients—mostly utilities that need extra electricity, as opposed to cities or regions. While they account for only 10 percent of power generation, nonutilities such as Duke Energy represent the industry’s fastest-growing sector. In the wake of deregulation, smaller-scale generators are freer to sell energy to big distributors, and small, efficient producers can be profitable.

kEy JObsElectrical Engineer or Gas EngineerThese are the people who design or maintain power plants or natural gas delivery systems, or ensure the smooth operation of the complex grid that connects power plants and individual homes and businesses. A BS in electrical or gas engineering is generally required.

New grads can expect to begin by performing technical support and analysis. More experienced engineers can move on to project planning and management, where duties range from cost analysis to the evaluation of new products and technologies.Salary range: $45,000 to $110,000

Mechanical Engineer/Civil Engineer/ArchitectThese engineers design and oversee industry construction projects—offshore oil rigs, dams, and coal mines built by energy and utilities companies. A BS in engineering or architecture is a minimum requirement. Recent grads handle the nitty-gritty of design and structural analysis. Experienced people move on to project planning and management, where duties include planning of future projects, management, and cost analysis once work is underway.Salary range: $45,000 to $100,000

Computer Systems or Telecommunications SpecialistJobs include technical support and troubleshooting of existing systems, as well as the planning, purchase, and implementation of new systems. The most sought-after positions require at least a BS in computer science or a related field. Strong communications skills and project-management experience are big pluses.Salary range: $35,000 to $120,000

Petroleum Engineer or GeologistThese are the people responsible for the discovery and development of new oil deposits. Geologists, geophysicists, and geology engineers form the team that figures out where and how deep to drill. Petroleum engineers handle the drilling itself, plus the production, processing, and transport of the extracted crude. Minimum requirements include a BS in petroleum engineering or a geology-related field.Salary range: $60,000 to $110,000

Chemical EngineerChemical engineers turn raw materials like crude oil into products such as gasoline. Recent grads with a BS in chemical engineering provide support for day-to-day operations. As you gain experience, you can expect to participate in project management and the planning and development of future projects.Salary range: $45,000 to $105,000


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Project ManagerFor candidates who combine technical training with excellent business and communication skills, project management is the way to go. Stress levels are high, but so are the pay and sense of accomplishment. These jobs require at least a BS in engineering, as well as an MBA or an excellent industry track record.Salary range: $70,000 to $150,000 or more

LobbyistThe utilities industry is still in limbo, half regulated and half deregulated. That means lobbying and public relations are key to determining the future of the industry. Candidates with JDs are particularly attractive for these positions, although excellent communication and people skills may be enough to land you a job.Salary range: $72,000 to $150,000 or more

Trade RepresentativeTraditionally, people in these positions sold oil futures. But with electricity becoming as much a commodity as petroleum, utilities now offer similar jobs. Candidates should have degrees in engineering or business and marketing, plus proven negotiation or communication skills. Those with both technology and MBA degrees do particularly well.Salary range: $50,000 to $150,000

JOb PrOsPEcTsThe Bureau of Labor Statistics expects utilities jobs to grow slowly in coming years. Even worse, the number of jobs in the oil and gas sector is projected to shrink through 2014, at least in the U.S.

There are several reasons for this. First, mergers and acquisitions in both sectors have triggered more than a few layoffs. Second, technological advances boost productivity with fewer workers. Finally, most petroleum sources in the U.S. are already tapped out.

Not all is bleak, however. Employment opportunities are expected to skyrocket in the water-supply and sanitary-services area of the utilities sector,

while the job outlook for petroleum engineers and geoscientists looks good for those willing to work abroad.

In the energy sector, job seekers face a particularly unstable market as prices (and profits) fluctuate drastically. But don’t throw away your geology or petroleum engineering degree yet—recruiters at big oil companies are anxious to hire qualified candidates. Entry-level jobs for engineers will be the most plentiful. Firms recruit new engineers primarily from the undergraduate level, and they typically favor internal candidates who started as engineers to fill higher-level positions. The fact that many longtime industry pros are entering their retirement years will increase demand for new workers.

The deregulation of the utilities industry also means new opportunities. Many utilities, suddenly free to diversify their business interests, have entered the telecommunications industry, with Southern Company and American Electric Power leading the way. Such seismic shifts are sure to create prospects for young, ambitious employees, as formerly stuffy, hierarchical organizations have to entertain new ideas.

aDDITIONal rEsOurcEsCenter for Energy and Economic Development (www.ceednet.org) Edison Electric Institute (www.eei.org) Energy Crossroads (http://eetd.lbl.gov/EnergyCrossroads) Energy Information Administration (www.eia.doe.gov) Energy Science and Technology Virtual Library (www.osti.gov/EnergyFiles) Gas Technology Institute (www.gastechnology.org) Oil & Gas Journal (www.ogj.com) OPEC (www.opec.org) U.S. Department of Energy (www.doe.gov)



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Investment BAnkInGINDusTry OvErvIEWInvestment banks (I-banks for short) are experts at calculating what a business is worth, usually for one of two purposes: to price a securities offering, or to set the value of a merger or acquisition. Securities include stocks and bonds, and a stock offering may be an initial public offering (IPO) or any subsequent (or secondary) offering. In both cases, I-banks charge hefty fees for this valuation service, along with other kinds of financial and business advice.

When banks underwrite stock or bond issues, they ensure that institutional investors such as mutual and pension funds commit to purchasing those issues before they actually hit the market. In this sense,

I-banks serve as intermediaries between the issuers of securities and the investing public. In addition, many I-banks offer retail brokerage and asset-management services.

TrENDsThe Tech RevolutionTechnology is having an enormous impact on investment banking. The biggest industry change was the 2005 merger of the New York Stock Exchange with Archipelago, an electronic trading platform. While an electronic stock exchange is more efficient than the traditional system, it’s hard to believe that the bustling swarm of traders on the NYSE floor is rapidly becoming a thing of the past.

Computers are also revolutionizing the way equity trades are performed. A significant chunk of equity trades are transacted using computerized algorithmic trading systems, which let traders move large blocks of shares without overly affecting the price at which they’re able to buy or sell those shares. Under the old system, if you were to suddenly announce your intent to sell hundreds of thousands of shares, the price buyers would offer you would probably drop just as

Top Ten Energy & utilities Players, by 2006 revenue


1-yr. change (%)

Employees

Exxon mobil 377,635 1.9 82,100

royal Dutch shell (1)

312,323 1.8 108,000

bP (1) 265,764 7.9 97,100

chevron 210,118 6.0 62,500

conocoPhillips 188,523 2.8 38,400

valero Energy 91,833 11.8 21,836

koch Industries 90,000 12.5 80,000

marathon Oil 65,499 2.8 28,195

sunoco 38,715 14.6 14,000

citgo (2) 32,028 27.0 4,000

(1) Foreign company; figures reflect worldwide sales and employment.(2) 2005 figures

Source: Hoover’s; WetFeet analysis

Not surprisingly, the center of this industry rests in the lofty aeries above Wall Street and Midtown in New York. Other hotspots include London, San Francisco, and Silicon Valley. Firms also compete in Frankfurt, Hong Kong, Tokyo, and other foreign markets 24 hours a day.


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suddenly. The beauty of algorithmic trading is that it slices up blocks of stock to avoid letting the market know just how much of it you’re trying to move. Expect this trend to intensify.

Jittery MarketsInvestment banks posted enormous profits in 2005 and 2006 and seemed headed for a strong 2007. But the collapsing subprime mortgage market threw a midsummer haymaker at the economy and took the luster off hedge funds. Investor jitters threw stocks into a tailspin, forcing the Fed to lower one of its key interest rates.

How all of this will affect investment banking remains to be seen. But the short-term future seems less certain.

Universal BanksInvestment activity across U.S. borders is rising with giant purchases of foreign equities and M&A activity by multinational companies. Meanwhile, foreign firms such as Deutsche Bank and UBS have moved aggressively into U.S. markets. The result: Firms in the U.S. and abroad are looking for partners or acquisitions to beef up their global presence. “Almost everything we do now has some cross-border component,” says one insider.

Scandals on the StreetOver the years, Wall Street firms have come under fire for allegedly overvaluing stocks, charging excessive commissions, and playing fast and loose with accounting rules.

Nearly all the major investment banks have paid fines totaling in the billions of dollars to settle allegations against them, and the scrutiny of regulators remains sharp. Firms now shell out millions to purchase independent research for their customers.

hOW IT brEaks DOWNThe Bulge BracketAlthough variously defined, this group basically includes the largest of the full-service investment

banks. Associating with any one of its members is prestigious—whether you’re a startup with an IPO to sell, a Fortune 500 company planning an acquisition, or a job seeker sending out resumes. Citigroup Global Markets, Credit Suisse, Goldman Sachs, Lehman Brothers, Merrill Lynch, and Morgan Stanley hold top spots in this bracket, at least for the moment. Other major players include Bear Stearns, Deutsche Bank, JPMorgan Chase, and UBS.

Boutiques and Regional FirmsBoutiques are niche firms that focus on a specific industry like technology, or on a financing vehicle such as municipal bonds. Regionals provide financing and investment services in particular geographical areas.

As mergers and acquisitions alter the landscape, these traditional categories are becoming less meaningful. Big commercial banks that have acquired investment banks are bringing large amounts of capital to the playing field, along with a mix of financial services more varied than ever.

kEy JObsInvestment banking jobs fall into four areas: corporate finance, sales, trading, and research. Shifting from one to another isn’t unheard of, but since doing your time and moving up the ranks in one area is the quickest way to make lots of money, most people stay put.

Corporate Finance AnalystThink of corporate finance as financial consulting to businesses. Activities range from underwriting the sale of equity or debt for a corporate client to providing advice on mergers and acquisitions, foreign exchange, economic and market trends, and specific financial strategies. When most people refer to investment banking, this is the sort of work they mean.

CorpFin analysts, as they’re known internally, spend 80 hours a week proofreading and photocopying pitch books, running financial models, and preparing due-diligence studies on target companies. After two or three years, they’re off to business school.

MBAs are brought in at the associate level, where



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they help underwrite equity (stocks) and fixed-income (bond) offerings, write sections of pitch books, sit in on client meetings, and participate in forging financial strategies. They also supervise teams of analysts. After three or four years, the next step is VP; after another three to five years, the goal is managing director.Salary range: $95,000 to $200,000

Financial EngineerA growing number of engineers are employed in the CorpFin area, practicing financial engineering or computational finance. Financial engineers use various mathematical, statistical, and computational techniques to solve practical problems. An engineering degree is usually required, as is intimate knowledge of programming languages such as C/C++ and Java.Salary range: $90,000 to $300,000

SalesSome firms hire only MBAs for sales jobs, whereas others don’t even ask about your education. In any case, the bottom line is how well you can sell the new debt and equity issues CorpFin unloads on your desk—and how quickly you can translate news events or a market shift into transactions for your clients.These jobs are usually much less hierarchical than positions on the banking side. Your sales volume and asset growth are what really matter.Salary range: $65,000 to $100,000

TradingWhen Hollywood directors want to portray the rough, unruly underside of Wall Street, they wheel the cameras onto a trading floor. This is as close to the money as you can get. Trading commands respect because it’s tougher, riskier, and more intense than any other job in finance. But it isn’t for the genteel or the faint of heart.

As a trader, you manage the firm’s risk and set prices, based on supply and demand, for the securities CorpFin has underwritten. Although you’re tied to the premises while the markets are open, you get to leave after the closing bell.

Beginners fetch takeout food and run other thankless errands. More seasoned traders scream and yell when their markets heat up and do the crossword puzzle the rest of the time. A few even grow up to be CEOs—and why not? They know more about the markets and money than anyone else in banking.Salary range: $65,000 to $100,000

Research Analyst/Quantitative AnalystPeople in this role engage in quantitative research (corporate financing strategies, product development, and pricing models), economic research (forecasts for U.S. and international markets, interest rates, and currencies), and individual-company coverage. Some focus on an industry sector—health care, oil and gas, or software, for example.

You move up in this profession by consistently predicting the movement of specific stocks. The best analysts are ranked annually by Institutional Investor magazine. Their buy, sell and hold recommendations wield enormous clout, and competition among firms for the top analysts can be intense.

The job typically requires an advanced degree in computer science or engineering.Salary range: $90,000 to $300,000

JOb PrOsPEcTsThe hiring market in 2006 and through the beginning of 2007 has been strong. The economy has added jobs. The stock market has been up. Businesses have increased their spending. More companies are going public and spending money to acquire other businesses. Emerging markets such as China promise vast new banking opportunities. Industry leader Goldman Sachs’s revenue and profits reached record highs in 2006.

All those banks that laid off employees when the markets tumbled have been hiring. And because it’s cheaper to employ a recent grad than someone with more experience, prospects look especially bright for people fresh out of the best business schools. However, those who do I-banking internships will have the best shot at full-time openings.


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aDDITIONal rEsOurcEsInvestorLinks.com (www.investorlinks.com) The Motley Fool (www.fool.com) The Wall Street Journal (http://online.wsj.com) SNL Financial (www.snl.com)

nOnprOfIts And GOvernmentINDusTry OvErvIEWNonprofitsNonprofit organizations are businesses designed to make change, but not in the monetary sense. Granted 501(c)(3), or tax-exempt, status by the government, these entities focus on causes ranging from breast-cancer awareness to human rights. Many nonprofit interest groups maintain offices near the Capitol or state legislatures, where they lobby for favorable legislation.

Such organizations derive their operating revenue from foundations, government grants, membership dues, and fees for services they provide. They typically attract people who are passionate about solving social problems. The big upside of working in this sector is that you can make a positive impact on behalf of your organization’s cause. The downside is that most jobs in the nonprofit sector don’t pay well.

Nonprofits and charitable organizations are becoming more entrepreneurial, learning lessons from the private sector about how to operate more efficiently and do more with less. They’ve adopted marketing techniques to enhance their fundraising efforts, and even started their own small businesses to generate income for social programs.

GovernmentSome 20 million Americans hold government jobs. Workers at federal, state, and local agencies handle issues as diverse as highway construction, wilderness protection, public health, farm subsidies, and fireworks displays on the Fourth of July.

Federal and state legislators make laws, and city and county supervisors pass ordinances. Executive agencies from the White House to city hall issue regulations.

Governments employ armies of civil servants.

Top Investment banking Firms, by 2006 revenue


1-yr. change (%)

Employees

citigroup corporate & Investment bank (1)

146,558 21.8 337,000

bank of america (global capital markets and Investment banking) (1)

117,017 39.3 203,425

ubs (1) 105,753 38.6 78,986

Deutsche bank (1) 101,183 39.3 68,849

JP morgan chase (1)

99,845 25.0 174,360

morgan stanley (1) 76,551 47.0 55,310

merrill lynch (1) 70,591 47.7 56,200

goldman sachs 69,353 59.8 26,467

credit suisse group

67,532 –1.3 44,871

lehman brothers

46,709 44.0 25,900

Nomura holdings

17,601 15.3 14,688

(1) Figures include all divisions of multifaceted companySources: Company websites; SEC filings; Hoover’s; WetFeet analysis



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Among these foot soldiers are the people who analyze policy, draft legislation, and issue building permits.

Nearly 2 million civilians worked for the federal government in 2006. That same year, a whopping 15.9 million public employees served at the state and local levels—including firefighters, hospital workers, police officers, and teachers.

While most public employees enjoy excellent benefits, government work has its downside. For one thing, the pay is often lower than in the private sector. And in many government positions, jobs are politicized: Your priorities (and the culture of your workplace) can change with the election cycle, and the program you’re working on or the representative who hired you may not even be around next year.

TrENDsGoing High-TechTechnology is changing the face of the nonprofit sector. More people are making charitable contributions via the Internet. In 2004, the American Red Cross received 22 percent of its tsunami disaster-relief donations online. The following year, a staggering 45 percent of its Hurricane Katrina donor funds came from the Web.

More nonprofits are using email and the Internet for their fundraising and marketing, creating demand for new technology. Some nonprofits are encouraging donors to establish monthly online gifts as opposed to one-time contributions. This increases donor renewal rates. Companies such as Convio, Blackbaud, and Kintera offer software tools that let nonprofits submit

grant reports and process credit-card transactions more easily.

In addition, nonprofits are turning to Web service formats such as XML and RSS to integrate their online presence with back-office applications, including member and donation databases. Software maker MicroEdge is one vendor that’s furthering this effort.

Homeland SecuritySince 9/11, government funding for security has attained record levels. Job opportunities abound for those interested in working under the Department of Homeland Security umbrella.

Meanwhile, in the nonprofit arena, many complain that homeland security is eroding civil rights. They argue that the government has stifled nonprofits that oppose its policies. They point to IRS audits and attempts to limit or eliminate federal funds for certain nonprofits.

Government OutsourcingTraditional government functions such as garbage removal are increasingly being outsourced to the private sector. Theoretically, the profit motive encourages efficiency and drives down costs.

The reality isn’t so clear-cut. The cost of services can go up even when private enterprises are more efficient, since companies must charge more to make a profit.

hOW IT brEaks DOWNNonprofitsMore than 25 kinds of nonprofit organizations are recognized by the IRS, from the sacred (religious groups) to the obscure (trusts for miners suffering from black lung disease). They fall into two broad categories: lobbying groups, such as Greenpeace and the National Rifle Association; and service organizations, such as museums and homes for pregnant teens.

Alongside the large national and international nonprofits are smaller, local entities. Like their cousins, they include everything from community theater troupes to women’s shelters and convalescent homes.

The nonprofit arena also includes philanthropic

State and local governments collectively employ eight times as many people as the federal government.


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funds and foundations, which come in several varieties. Community foundations raise funds from community and regional donors. Corporate foundations are established by companies to make charitable grants. Independent foundations usually consist of an endowment made by a single individual or family. Operating foundations focus on funding their own nonprofit programs.

GovernmentExecutive agencies, including the Bureau of Engraving and Printing, the Environmental Protection Agency, the FBI, and the Social Security Administration, account for the largest group of federal jobs. Positions are also available in agencies under the aegis of the judicial and legislative branches, such as the Congressional Budget Office and the Library of Congress.

There are two basic types of federal agency positions: civil service; and political, or Schedule C, appointments.

Not all people with federal agency jobs are based in Washington, D.C. Consider the postal employee braving snow, rain, heat, and gloom of night; the diplomat at the U.S. embassy in Cairo; or the ranger in Yellowstone National Park. Think of the bureaucrats in federal office buildings in every major U.S. city; the Bureau of Indian Affairs agent on an isolated reservation in New Mexico, the civilian technician

maintaining communications gear in the tropical heat of Guam; or the medical researcher culturing bacteria at the Centers for Disease Control in Atlanta.

Congressional jobs, on the other hand, are more concentrated geographically. Most of them, though not all, are located in the nation’s capital.

Nongovernment Political JobsThere are plenty of political opportunities that technically lie outside government. Many work at lobbying firms such as Akin Gump Strauss Hauer & Feld and Patton Boggs; nonprofit interest groups like the American Medical Association and the Teamsters Union; and think tanks that include the Brookings Institute, the Cato Institute, and the Heritage Foundation. Most organizations of this nature are located in Washington, D.C., and in state capitals.

In addition, both the Democratic and Republican parties have national committees, as well as state and local offices, where job seekers interested in partisan politics may find opportunities.

kEy JObsProgram AnalystPeople in this role work at government agencies, where they analyze proposed or existing programs for presentation to the legislature. The job requires knowledge of the budgetary process and a financial background.Salary range: $40,000 to $78,000

Civil EngineerThis is a broad job category that involves the planning, construction, and maintenance of public works, including roads, bridges, and sewerage systems. A BS in civil engineering is required.Salary range: $51,000 to $85,000

Environmental EngineerEnvironmental engineers focus on public health issues such as pollution control, recycling, and waste management. At the government level, they’re currently studying acid rain, auto emissions,

Members of Congress maintain staffs in their home districts or states. You can often find opportunities here, especially if you have a solid education and good political connections.



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global warming, and ozone depletion. A degree in environmental engineering is usually a minimum requirement.Salary range: $59,000 to $96,000

Nuclear EngineerNuclear engineers design, develop, analyze, test, operate, and maintain nuclear fission systems and their components. They also might deal with nuclear safety, nuclear fuels technology, and the effects of radioactivity. In addition to a degree in nuclear engineering, the job requires a solid background in math, thermodynamics, and other areas of physics and chemistry.Salary range: $57,000 to $115,000

Electrical EngineerElectrical engineers design, develop, test, and supervise the deployment of electrical systems for telecommunication systems, electric power stations, or industrial machinery. These engineers are also responsible for a fair amount of “soft” skills, such as developing and presenting proposals, preparing budgets, and managing project schedules and teams. The job requires a BS in electrical engineering.Salary range: $49,000 to $90,000

JOb PrOsPEcTsIt can be tough to land a job in nonprofits or government. Persistence pays off, though. If you’re committed to a particular issue, don’t hide it. Volunteering and interning are two good ways to start at a nonprofit. However, if you want a government internship, you’ll most likely have to be a student.

According to the Bureau of Labor Statistics, employment will rise more slowly in government than in any other sector. It projects 11 percent growth at the state and local levels through 2014, and a less than 3 percent increase at the federal level. While there should be job growth in the Homeland Security office, there will be declines in other areas of the federal government because of budget cuts, outsourcing, and devolution—the practice of relinquishing federal

programs and initiatives to state and local jurisdiction. The few federal hires made in coming years will most likely fall into the categories of emergency preparedness, border and transportation security, public health, and information analysis. Projected job growth in state and local government is linked to the devolution of federal responsibilities and rising demand for social services.

If you’d like to get into the nonprofit world, the Bureau of Labor Statistics has better news for you: These job opportunities should grow by 15 percent through 2014. That’s largely because of high job turnover and the looming retirement of many baby boomers, along with the growing demand for more social services.

As demographics change, so do social-service needs. For example, high rates of divorce and out-of-wedlock births nationwide heighten the demand for family counseling and child care. The swelling elderly and immigrant populations also require additional services.

aDDITIONal rEsOurcEsThe Chronicle of Philanthropy (www.philanthropy.com) Foundation Center (www.foundationcenter.org) Governing magazine (www.governing.com) Government Executive magazine (www.govexec.com) Govtjobs.com (www.govtjobs.com)Idealist (www.idealist.org) OpportunityKnocks (www.opportunityknocks.org) USAJobs (www.usajobs.opm.gov)


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INDusTry OvErvIEWTelecommunications may have traditionally referred to telephone service, but it now encompasses any communication over a distance, be it via telephone, television, radio, wireless network, computer network, telemetry, or other means. Indeed, the line separating telecommunications from other industries is getting blurrier all the time as technologies converge. If you want to work in an industry that requires you to learn fast and adapt quickly, this one is it.

Telecommunications is a mammoth sector, comprising companies that provide hardware, software, and services. Hardware includes products that enable communication globally, from video

broadcasting satellites to telephone handsets to fiber-optic transmission cables. Services include running the switches that control the phone system, providing Internet access, and configuring private networks by which international corporations conduct business. Software makes it all work, enabling email transmission, relaying satellite data, controlling telephone switching equipment, reducing cell phone background noise, and more.

The breakup of AT&T in 1984 created the modern telecommunications industry, subjecting telephone companies to free-market forces for the first time. While the long-distance market became competitive almost immediately, the so-called Baby

Top Ten Nonprofit Players, by 2005 revenue

Organization headquarters2005 revenue ($m)

ymca of the usa Chicago 5,131

The salvation army Alexandria, Va. 4,559

american red cross Washington D.C. 3,888

catholic charities usa Alexandria, Va. 3,286

goodwill Industries International

Bethesda, Md. 3,023

united Jewish communities

New York 2,149

memorial sloan-kettering cancer center

New York 1,790

boys & girls club of america

Atlanta 1,329

americares Foundation New Canaan, Conn. 1,316

habitat for humanity International

Americus, Ga. 1022

Sources: The NonProfit Times; WetFeet analysis

Top Ten u.s. government agencies, by 2008 Federal budget Outlays

Department2008 Federal budget Outlays ($m)

2007 civilian Employees

health and human services

699,240 64,038

Defense 583,283 669,240

Treasury 524,990 106,842

agriculture 89,026 98,297

veterans affairs 83,288 242,234

Transportation 67,032 53,849

Education 58,603 4,355

homeland security 43,200 169,749

Justice 24,045 106,384

Interior 10,528 68,446

Source: Budget of the U.S. Government

telecOmmunIcAtIOns



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Bells fought to keep companies such as AT&T (since acquired by SBC) and MCI (recently acquired by Verizon) out of the local phone market. But the Telecommunications Act of 1996 deregulated local phone markets. Proponents say deregulation makes telecommunications services more competitive, benefiting consumers. Critics say it gives a few giant companies unchecked sway over our ability to communicate with one another. Regardless, deregulation appears here to stay, with the industry swept up in waves of consolidation that are likely to continue.

TrENDsConvergence ConfusionWith each passing year and each new generation of products, it’s getting harder to pigeonhole companies and their offerings into traditional categories like telecommunications, computer hardware, and consumer electronics. Consider cell phones: These days, cell phones can take digital photos, send and receive email, access the Internet, download and play music and videos, and transmit their geographic location via GPS technology. You tell us: Should cell phones that do all that be called consumer electronics products? Telecom products? Computer hardware products?

One result of convergence is that players in the consumer electronics, computer hardware, and telecom sectors are increasingly finding themselves competing head-to-head to determine who will lead in new product categories. Turmoil in the form of M&A and fluctuations in profitability is likely to result.

The Growth of WirelessThe wireless sector is growing like gangbusters, with wireless connections rapidly multiplying. The launch of dozens of 3G networks is enabling faster speeds, quicker downloads, and improved service. At the same time, wireless carriers have been consolidating: Think Cingular and AT&T, Sprint and Nextel, and Alltel and Western Wireless.

VoIPVoice over Internet Protocol (VoIP) makes it possible to send phone calls as data packets across the Internet and other IP networks (such as private LANs). That means phone calls no longer have to travel through local phone company lines. The quality, consistency, and reliability of VoIP don’t equal those of traditional phone networks. But they’re getting there. And the price sure is right: Like email, VoIP-to-VoIP phone calls are free. The only cost is for your broadband Internet connection. That’s typically a small, fixed, up-front fee.

Today’s VoIP offerings do have disadvantages While corded phones usually continue to work during power outages, VoIP calls themselves require power. Also, most VoIP offerings don’t support encryption, so the security of VoIP phone calls is questionable. Still, use of VoIP is growing all the time.

hOW IT brEaks DOWNBefore 1996, a variety of regulations divided telecommunications artificially: Cable TV companies were prohibited from offering local telephone service, video programming over phone lines was banned, and local and long-distance service providers were forbidden from competing in each other’s markets. The Telecommunications Act that year lifted those restrictions.

One remaining regulatory barrier prohibits service providers from manufacturing telecommunications equipment. The cleanest way to break this industry down, then, is between those who make the software and hardware and those who provide various services.

If you want to work in an industry that requires you to learn fast and adapt quickly, telecom is it.


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Service Providers These companies provide local and long-distance wireline (nonwireless) telephone service. Industry insiders call this POTS, for plain old telephone service. Wireline providers include the large long-distance companies, such as Verizon and Sprint, and the RBOCs (regional Bell operating companies—the baby Bells), including AT&T and BellSouth. A new generation of companies, including Qwest, Level 3, and Verizon, is laying fiber-optic wire networks to handle the rapidly increasing amount of data traffic.

Wireless Service ProvidersMarked by carrier consolidation and partnering to augment geographical reach and gain economies of scale, wireless communication services have shaken up the telecom industry. They’ve also brought telecommunications to the far corners of the world, including parts of Africa and South America that lack wireline infrastructures, and made local markets far more competitive in the U.S.

Satellite Telecommunication ServicesSatellite telecom services break down into fixed satellite services such as Intelsat; low earth orbit (LEO) satellite companies such as Globalstar and Iridium; direct broadcast satellite (DBS) companies like DirecTV; and the global positioning system. Satellite services include such technologies as navigation systems (like

those in the dash of some new vehicle models), video broadcasting, and data transmission.

Internet Service ProvidersISPs are the companies that let you go online, including AOL, EarthLink, MSN, cable companies, and the RBOCs. With the convergence of voice and data networks, the Internet has also been adding huge amounts of talent.

Customer Premise Equipment (CPE) ManufacturersTelecommunication service providers are the biggest customers of telecommunications equipment makers. To sell their services, these providers must purchase switches, some of which can serve tens of thousands of users, as well as other CPE—telephones, voicemail systems, private branch exchanges (PBXs), and more. LANs require their own routers, switches, and hubs. The big players here include Alcatel, Fujitsu, Lucent, Nortel, and Siemens.

Networking Equipment and Fiber Optics Manufacturers Networking equipment, including routers, hubs, switches, and servers, makes a LAN operative. Fiber optics consists of the optical fiber and fiber-optic cable, transmitters, receivers. and connectors that carry data and voice messages. The biggest switch makers are Lucent and Nortel. Cisco and 3Com are among the biggest makers of networking equipment.

Wireless and Satellite Communication Equipment ManufacturersThese are various categories that we’ve grouped together. The radio-based communication systems, switches, transmission devices, and subscriber equipment for this sector differ from what the wireline service providers use. Large players in wireless equipment include Motorola, NEC, Qualcomm, and Sony. Satellite communication equipment makers include Comcast and Intelsat, as well as cable providers and DBS companies.

The hiring outlook is good in high-speed data services, voice communication over the Internet, wireless networking, and other telecom sectors that are bringing exciting new technologies to market.



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kEy JObsTelecommunications EngineerTelecom engineers are experts in the transmission of information via cables—or through thin air. They work with the transmitters and receivers necessary to power our cell phones and wireless Internet service. A degree in electrical or telecommunications engineering is a must, and knowledge of programming languages is also usually required.Salary range: $45,000 to $90,000

Network EngineerThe network engineer designs, implements, monitors, and maintains telecom networks and network systems. This position demands a fair amount of creativity and problem-solving ability, as you work on meeting client or market requirements. Network engineers usually have a degree in computer science or an engineering field and excellent IT skills and/or experience.Salary range: $43,000 to $80,000

Electrical Engineer/Electronics EngineerElectrical engineers are in great demand in this industry. They work on the design, manufacturing, implementation, and maintenance of large-scale electrical systems. Sometimes a distinction is made between an electrical and an electronics engineer. The difference is that an electronics engineer works on smaller-scale electronic systems and devices, circuits, and control systems across the industry. Both roles require a BS in electrical engineering.Salary range: $49,000 to $120,000

Test EngineerThe test engineer makes sure the product works—especially its switches, which are critical. The test cycle is often as long as the development cycle.Salary range: $45,000 to $100,000

Software or Applications EngineerPeople in this role concentrate on writing code. Most telecom companies require code to be written on Unix-based machines.Salary range: $45,000 to $100,500

JOb PrOsPEcTsThe Bureau of Labor Statistics expects telecom employment to drop 7 percent from its 2004 level by 2014, compared with 14 percent growth for all industries combined.

The outlook is good in telecom sectors that are bringing exciting new technologies to market. High-speed data services, voice communication over the Internet, and wireless networking are some of the sectors that will be hiring, and small companies are good places to find jobs. Electrical and electronics engineers, computer software engineers, systems analysts, and customer-service professionals will find opportunities growing faster than for the overall industry as networks expand, providers invest in R&D, and computer technology becomes more sophisticated. Line installers and repairers should also find work as residential users add broadband service and businesses seek to increase connections to suppliers and customers.

Technology largely dictates hiring needs. For example, voice-recognition technology means fewer directory-assistance operators but more engineers.


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aDDITIONal rEsOurcEsInternational Telecommunication Union (www.itu.int) TelecomCareers.Net (www.telecomcareers.net) Telecommunications Industry Association (www.tiaonline.org) Telecommunications magazine (www.telecoms-mag.com) Wireless Telecommunications Bureau (http://wireless.fcc.gov)

Top Ten Telecom Players, by 2006 revenue


1-yr. change (%)

Employees

verizon 88,144 17.4 242,000

aT&T 63,055 43.8 302,000

Nokia (1) 54,292 34.1 68,483

motorola 42,879 16.4 66,000

sprint Nextel 41,028 18.3 103,483

Telefonaktiebolaget lm Ericsson

25,974 36.1 56,055

comcast 24,966 12.2 90,000

cisco systems (2) 24,484 14.9 49,926

alcatel (1) 16,209 4.2 79,000

DirecTv group 14,756 12.1 11,200

(1) Foreign company; figures reflect worldwide sales and employment(2) Highly diversified company; figures include departments

that operate in other industriesSources: Fortune.com; Hoovers.com; WetFeet analysis

3Careers

Information Technology...........44

Manufacturing and Production.............................46

Medicine and Health................49

Operations.............................52

Programming.........................54

Project Management................57

Supply Chain Management.......59

Web Development................... 61



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InfOrmAtIOn technOlOGycarEEr OvErvIEWEmail, PCs, and the Internet: These products of the information age have become common currency among working professionals. They make life simpler by providing speedy communication, efficient work tools, and access to vast information. But they also introduce a risk factor: If your computer fails or the network connection goes down, you lose time and possibly money.

That’s where information technology specialists come in. IT brings you the information and applications—such as word processing, spreadsheet, and presentation software—that office workers everywhere rely on for their jobs. IT specialists create, set up, and maintain employees’ vital programs and systems.

Their work varies widely. They upgrade your software, get your network or computer running after it crashes, set up and maintain the servers on which your company’s internal applications run, create and customize software products, and build and maintain the databases you need to serve customers.

IT professionals wear many hats and go by different names, depending on their expertise—engineer, programmer, website producer, and network administrator, to name a few. The range of IT jobs is vast. For example, the skills needed to set up an office network—that is, to install the cables, configure the computers, and keep the PCs running—differ from those required to establish and customize an automated-payroll software system. A database specialist needs still other skills to administer ever-changing information generated by enterprise applications and the company website, including files on visitors who have signed on as members or made purchases.

But no matter what job they do, all IT professionals focus on improving the usability and efficiency of technological systems and processes. Their goal is a

smoothly functioning computer network that provides an effective flow of information so the company can improve its work processes, customer retention and acquisition, and other aspects of its business.

rEQuIrEmENTsThere’s a broad range of jobs in IT, and not all positions require technical skills. “Our best tech-support people had humanities backgrounds,” one insider says. Communication and business skills are important qualifications. Four-year college-degree programs—not necessarily in computer science—also serve job candidates well.

Employers look for relevant skills and experience. A degree in computer science tends to be most important for database developers and software engineers. Certificate programs are more common for support and system administration specialists (see the “Certification” section that follows for more information). On-the-job experience can substitute for either academic credential, although a degree offers a tremendous advantage to people just entering the job market.

Nontechnical credentials matter, too, especially if you’re doing IT work for a non-IT organization. For example, a biology minor will come in handy if you’re a software developer working with an insect database at a university research center.

Because IT is part of so many industries, a secondary field can be anything that interests you—film, chemistry, history. No matter what it is, it’s likely to complement an industry searching for IT workers.


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CertificationA certificate is almost always a prerequisite for a job in information security. A number of common acronyms appear beside the names of successful security professionals—for example, CCSE (Check Point Certified Security Expert), CCSA (Check Point Certified Security Administrator), and SCSE (Symantec Certified Security Engineer).

Network and system administrators are also increasingly turning to certification programs like those offered by Microsoft and Red Hat. However, formal training is less important for system administrators than for other kinds of IT professionals.

Education doesn’t end when you land a job. Part of working in IT is learning new technologies. Since the field is constantly evolving, today’s hot tech skills—C++, Java, Linux, .NET, and Oracle—are just that. Next year, the list will change. Every job comes with its own list of requirements, and however careful you are at selecting your skills, you’ll need to update them and pick up new ones.

carEEr TracksIT jobs fall into two general categories: back-end and front-end work. Back-end involves supporting networks and databases. Front-end concentrates on improving the user-interface realm, such as the design and navigation of a website. Some of the more common IT jobs are described below.

Software EngineeringSoftware engineers are programmers who write the code that makes software products run. In a traditional sense, they design, develop, and debug application software—the programs you use for word processing, managing your finances, or learning foreign languages. However, they’re now devoting more attention to Web enablement. For instance, a team of engineers might design a bank’s online checking system or develop the multiplayer Internet version of a PC game.

Network EngineeringNetwork engineers build and maintain a company’s back-end technology. Duties include implementing a LAN for intra-office communication and a WAN to support an Internet connection. In addition, network engineers must ensure that all workstations, hubs, servers, routers, and switches operate properly.

Network Administration and Systems SupportNetwork administrators and systems support staff boost efficiency and output by building and upgrading employees’ computers, downloading software, backing up information, and setting up email accounts. Net admins also respond to emergencies such as hacker attacks and virus threats, troubleshoot new applications, and field a never-ending barrage of user questions.

Database AdministrationDatabase administrators develop, implement, update, test, and repair server databases. Since these repositories typically store information on thousands, if not millions, of existing and potential customers, maintenance is a formidable task that often requires a project team. Other DBA duties include monitoring performance, archiving and backing up information, and keeping confidential data secure.

Web Production and DevelopmentWeb producers collaborate with corporate management to create a website that communicates the company’s message and promotes its products or services. Working with graphic designers and a team of Web developers who code the content, they establish objectives and devise plans for the site’s future. In addition, they post, update, and quality-check online content.

Web developers engineer Internet-specific software to post and update information on the company website. Using markup languages such as HTML and JavaScript, they create pages of text, images, and hyperlinks.



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Quality AssuranceThe quality assurance team is the last line of defense against mistakes before a product or website is made available to the public. At computer hardware companies, for example, QA engineers oversee the production process, ensuring that the plant assembles a flawless machine. At companies with an online presence, QA verify that the website’s features, interface, and navigation are bug-free and fully functional before content is posted. In both cases, a QA technician pinpoints problems so developers can remedy them before distribution.

JOb OuTlOOkDespite sluggish performance in the past few years, the Bureau of Labor Statistics expects jobs in this industry to grow faster than the national average through 2014. It projects that one out of four new jobs in the next decade will be IT-related, with software engineering, computer science, and database administration ranking among the fastest-growing occupations.

One reason for the strong growth is that businesses have been relatively stable. Companies have been moving forward with expensive IT ventures, including upgrading systems and developing new products.

However, the news isn’t all good. Programming and operations work will see a sharp decline over the next few years. Overseas outsourcing is a major factor here, as is rapidly advancing technology. These days, either new software or someone abroad can perform many of these duties more cost-effectively.

Employment prospects are best for recent grads with up-to-the-minute tech skills and work experience. Perhaps the career track in highest demand will be computer security, as protecting networks, infrastructures, and data is a top priority for most companies. Other hot areas of IT are e-commerce and mobile technology.

If you really want to stay ahead of the curve, you’ve got to develop those nontechnical business skills. Computerworld magazine predicts that by 2010, companies generally will be seeking versatile IT specialists for information and systems integration,

project management, systems analysis, and even business architecture.

aDDITIONal rEsOurcEsAssociation for Computing Machinery (www.acm.org) Computer & Communications Industry Association (www.ccianet.org) Information Technology Association of America (www.itaa.org) Software & Information Industry Association (www.siia.net) Web Developer’s Virtual Library (http://wdvl.internet.com)

carEEr OvErvIEWWithout manufacturing and production, there’d be no products to market or sell. Accountants would have nothing to account for. Programmers would lack computers to do their jobs. In short, there’d by very little need for any other career.

Manufacturing and production are more or less interchangeable terms for making a product, including the processes involved along the way. Our clothes, books, and computers were all manufactured. So were the textiles for the clothes, the paper for the books, and the components for the computers.

People who work in manufacturing and production don’t just create products; they create them as quickly and inexpensively as possible, and in the necessary quantities. In this industry, time is money: The faster a company’s machines and processes work, the better the company will perform. It doesn’t matter whether you’re producing silicon chips or Pokémon toys. The manufacturing challenge is to develop better production processes, secure the right material and component supplies at the lowest cost, reduce production time, eliminate waste, and ensure product quality.

mAnufActurInG And prOductIOn


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While the introduction of industrial automation technology has reduced the number of blue-collar and semiskilled positions in manufacturing, the evolution of the manufacturing process itself has opened many opportunities for technicians, engineers, industrial designers, and managers. As production lines become less labor-intensive, they depend more on computers, sensors, and robotics. Programmable logic controllers (PLCs) handle what human hands used to do, and step-by-step production control is left to sequencing equipment.

But PLCs are just the beginning: Sophisticated robots and intelligent computer-software programs can now run entire factories, requiring skilled programmers and software engineers to develop human-machine interfaces (HMIs) that let these high-tech creations communicate with their human masters. This may sound like science fiction, but some of the most advanced technology helps produce vast quantities of consumer goods and industrial products.

When companies move their production centers worldwide, they need experienced production professionals to direct overseas plant construction and equipment installation, as well as to train local technicians and engineers. Production managers, process engineers, and others involved in manufacturing travel extensively to qualify foreign suppliers or introduce systems and techniques to their international subsidiaries.

Manufacturing and production work calls for technical skills, attention to detail, and the creativity to improve processes. You’ll also need to endure stress, as the quest for faster and cheaper production methods never ends.

Although many companies hire all majors, some are definitely engineering-driven, with marketing and other functions taking their cues from engineers.

rEQuIrEmENTsMost manufacturing and production positions require a BS in a relevant engineering field. That could mean chemical, electrical, manufacturing, or mechanical, depending on the product.

A two-year degree may suffice for lower-level positions, although most of these require training in specific types of PLC and/or computer platforms, such as the Allen-Bradley, Mitsubishi, and Toshiba systems. Certificate courses in PLC systems are available at most community colleges, and the PLC manufacturers themselves offer courses through their dealers and distributors.

carEEr TracksMany enter the manufacturing and production arena with an engineering degree, usually electrical or mechanical. However, numerous universities offer specialized degree programs in manufacturing engineering, process engineering, and robotics.

As with many technology areas, job titles in manufacturing vary among companies. Roles can become highly technical and specialized. The following descriptions refer to typical positions with common types of responsibilities.

Industrial DesignerIndustrial designers are the engineers who dream up next year’s Porsches, Mack trucks, and technical machinery. They interact regularly with other departments, so communication skills are important. Technical savvy is also vital.

Industrial EngineerIndustrial engineers hold the manufacturing process together. Responsibilities may include managing productivity and inventory, controlling quality, and designing the layout of the factory floor. Industrial engineers need a thorough knowledge of product design, assembly methods, and QA standards.

Mechanical EngineerMechanical engineers develop machinery to make operations more efficient. They conduct experiments, evaluate findings, and present new concepts, products, equipment, and processes.



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Software EngineerPeople in this role design the software that helps companies sharpen their competitive edge in the global marketplace. In addition to a bachelor’s degree or higher, the position usually requires knowledge of computer languages like C++, Java, and VB.NET, as well as expertise in client/server software architecture design and implementation.

Test EngineerA test engineer is the stickler of the manufacturing group. Here your job is to create and run simulations to find problems in a manufacturing process. Senior positions offer opportunities to explore new ways of doing things—for example, rerouting conveyor belts, or switching or resequencing various production steps to enhance the process. A BS or MS in chemical, electrical, or mechanical engineering is usually required.

Robotics EngineerRobotics engineers are the eggheads of the production process. Robotics is a highly technical field, and robot-enabled production lines are extremely capital-intensive. New technology is always emerging to make the most of that investment. Robotics engineers need to understand the entire robotic process, from software design to mechanical operation. Such jobs generally require an MS or a PhD in a technical, scientific, or engineering field.

Systems and Controls EngineersSystems and controls engineers design and maintain human-machine interfaces. The job requires a BS in engineering, as well as excellent computer and software-programming skills. Experience is a must: You need to know how manufacturing engineers think and how the machines work so you can devise a way for the two to interact.

Design EngineerPeople in this position design, develop, modify, and enhance existing products and processes, usually in the

interest of developing a new product. They ensure that processes and design implementations are consistent with good scientific and manufacturing practices. In addition, they may manage vendor relationships and administer contracts to accomplish goals. The job requires a BS in a science or engineering field.

Process EngineerThe process engineer is the link between product design and production. Process engineers work with manufacturing and design engineers during product development to ensure that a product can be manufactured effectively from both a technical and a financial standpoint.

The job involves substantial coordination and communication, as well as a good deal of paperwork and administration. It usually requires a BS or MS in electrical or mechanical engineering.

Materials EngineerMaterials engineers study the properties of matter. They extract, process, and test materials to discover new applications, often in the chemical and biotech manufacturing industries. The job requires at least a BS in chemical engineering or material science, with extensive knowledge of chemistry and physics.

Manufacturing EngineerManufacturing engineers are responsible for maintaining a specific part of the manufacturing process. They review product and process designs for manufacturing feasibility, as well as recommend product and process improvements. People in this role usually have a BS in electrical, manufacturing, or mechanical engineering.

Senior Manufacturing EngineerCompanies hire senior manufacturing engineers to develop cost-effective manufacturing processes. The position is extremely high-profile. Experience counts more than education, but an MS in a relevant engineering field is usually desired.


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Director of ManufacturingIn a large organization, the director of manufacturing may oversee several production facilities and command a large staff. In other cases, the director of manufacturing may be responsible for managing contract manufacturers, selecting the best production facilities and communicating with the contractors to make sure they meet production rates, quotas, and cost targets. Most positions require an MS in an appropriate engineering field, as well as five or more years of relevant experience as a manufacturing engineer or systems/controls engineer.

JOb OuTlOOkIt’s no secret that U.S. manufacturing isn’t faring well. The Bureau of Labor Statistics projects employment in the industry to drop 6 percent by 2014. Many manufacturing sectors, including textiles and electronics, are losing jobs to overseas outsourcing. Others, such as autos and aerospace and defense, are consolidating. The only bright spot seems to be pharmaceutical manufacturing, where the bureau expects jobs to grow 26 percent by 2014.

But manufacturers will always need engineers to improve productivity. One of the most sought-after specialties is mechanical engineering, particularly in the aerospace and machinery manufacturing sectors.

For recent college graduates, the outlook in manufacturing appears fair: Companies still appear to be hiring, albeit at a tempered pace. Current engineering skills and knowledge of hot technologies will get you far in your job search.

aDDITIONal rEsOurcEsAssociation for Manufacturing Excellence (www.ame.org) The Association for Manufacturing Technology (www.amtonline.org) Manufacturing.net (www.manufacturing.net) National Association of Manufacturers (www.nam.org) Society of Manufacturing Engineers (www.sme.org)

medIcIne And heAlthcarEEr OvErvIEWYou’ll find an enormous range of career opportunities in medicine and health care. If you’re interested in healing people and helping them stay well, there’s almost certainly a job for you. Health care practitioners include everyone from doctors, emergency medical technicians, and physical therapists to physician assistants, radiology technologists, respiratory therapists, nurses, home health aides, and speech pathologists.

The field employs a host of other workers as well. Among them are IT professionals; business, sales, marketing, and administrative people; public policy experts; medical writers, editors, and transcribers; and lab technicians.

rEQuIrEmENTsIn every state, doctors must be licensed. Licenses are granted to graduates of accredited medical schools who have passed a licensing exam (the USMLE, or United States Medical Licensing Examination) and completed one to seven years of graduate medical school (residency) in an accredited program. Most specialists

Medicine and health care offers a dizzying array of career opportunities, especially when you broaden your scope to include pharmaceutical manufacturers and biotech companies.



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also become board-certified in their specialty in order to gain an edge in a competitive job market, although board certification isn’t a state requirement.

Accredited medical schools are those that have been approved by the Liaison Committee on Medical Education. A list of accredited medical programs is available on the LCME website (www.lcme.org). Accredited residency programs have been approved by the Accreditation Council for Graduate Medical Education; for a list, visit the ACGME site (www.acgme.org).

After completing their residency, doctors commonly find employment with a medical group or hospital. With more experience, they can expect salary increases and may even earn shares in the practice.

While some doctors pursue management positions, most continue to practice medicine. As a doctor’s career advances, he or she will typically develop a base of regular patients and accept fewer new ones. The heavy workloads and long hours generally diminish as retirement approaches.

Other health care professionals, including RNs and nurse practitioners, also require licenses to work.

carEEr TracksWhen most people think about health care, they think of doctors—and sure enough, in the descriptions that follow, you’ll find details about some of the options open to those considering careers as physicians. But the medical and health care field isn’t just for doctors. We’ve included other important health care professions, including registered nursing, the largest single health care profession, to give you an idea of the breadth of the different careers.

Physicians: MDs and DOsFor all the complexity of their profession, doctors have a simple goal: to treat and heal people who suffer injury or illness. As part of their practice, doctors examine patients, evaluate medical histories, perform and interpret medical tests, make medical diagnoses, and prescribe and administer treatments that may include surgery, drugs, or physical therapies.

Many of these activities are done in conjunction with other professionals, such as nurses and clinical laboratory technologists. But ultimately, the doctor is responsible for diagnosing the patient and deciding on treatment.

Doctors are also involved in keeping patients healthy through preventive care, which includes counseling patients about diet, exercise, and stress reduction. Preventive medicine has become more popular in recent years, as managed care emphasizes cost controls and the prevention of illnesses that may be expensive to treat.

There are two types of physicians: MDs, also known as allopathic physicians; and DOs, or doctors of osteopathic medicine. Both can perform a full range of medical services for patients, including surgery and drug therapy. The main difference is that DOs focus more on preventive medicine and the proper functioning of the body’s musculoskeletal system. Both MDs and DOs work in general medical practices or various specializations.

General PractitionersGeneral or family practitioners have always been common in the medical field, but they’re now more prevalent than ever. That’s largely because of managed-care systems, which emphasize the role of the primary-care physician: the patient’s regular doctor, who often must authorize referrals to specialists or nonemergency admissions to the hospital.

Primary-care physicians generally specialize in internal medicine, family medicine, pediatrics, or geriatrics. Because general practitioners have become increasingly responsible for their patients, they must be able to recognize a wider range of conditions. That enables them to recommend appropriate treatments and to refer patients to specialists.

SpecialistsMedical specialists focus on a specific area of the body, a particular type of illness or condition, or a certain procedure. Body-related specialties include cardiopulmonary medicine (heart and lungs),


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gynecology (female reproductive system), dermatology (skin), immunology (immune system), endocrinology (endocrine glands), gastroenterology (digestive system), hematology (blood, spleen, and lymph nodes), hepatology (liver and biliary tract), neurology (brain, spinal cord, and nervous system), ophthalmology (eyes), otolaryngology (ears, respiratory, and upper alimentary systems), rheumatology (diseases of the joints, muscles, bones, and tendons) and urology (adrenal gland and genitourinary system).

Condition-related specialists focus on allergy (reactions to irritating agents), oncology (cancer and tumors), toxicology (poisons and their effects), and obstetrics (pregnancy, labor, and delivery).

Procedure-related specialties include anesthesiology (managing patients’ pain and consciousness during and after operations and other procedures), radiology (using radiation to diagnose and treat patients), and surgery (using invasive operative techniques to diagnose and treat patients). Many specialties have subspecialties. For instance, a doctor might specialize in head and neck surgery, radiation oncology (use of radiation to treat cancer), or pediatric cardiovascular surgery.

Managed-care plans are still evolving, and these models are sometimes combined into hybrids and other configurations. But it’s clear that traditional fee-for-service plans and solo careers in private practice are mostly a thing of the past.

Other Health ProfessionsRegistered nurses make up the largest health care profession: There are approximately two million working RNs. They play an important role in helping patients and perform a wide range of duties in clinical settings. While RNs often work with physicians, they may also work alone on certain aspects of patient care.

State laws regulate the scope of RNs’ work, so their job descriptions will vary by state. Typically, RNs perform or assist with activities such as examining patients, taking medical histories, devising treatment plans, administering medication and other treatments, observing and evaluating patients’ symptoms and

responses to treatment, and performing follow-up evaluations and care.

Physician assistants offer health care services under the supervision of physicians. Depending on state regulations, PAs may examine patients, order tests and X–rays, make diagnoses, treat injuries, and prescribe medications.

Medical assistants perform a combination of administrative and simple clinical tasks. Their duties may include answering phones, managing medical records, drawing blood, and educating patients about how to take medications.

Clinical laboratory technologists perform tests on bodily fluids, tissues, and cells, as well as evaluate the results of such tests.

Cardiovascular technologists administer tests to diagnose heart disease and related conditions. Procedures include electrocardiograph (EKG) tests and stress testing.

Physical therapists work to improve function and mobility and to relieve pain in patients suffering from disease or injury. PTs often prescribe exercise regimens, although they may use other techniques such as electrical stimulation and massage.

JOb OuTlOOkHealth care is the largest U.S. industry, accounting for roughly 15 percent of the country’s gross national product. It should grow even larger as the baby boomer population ages. The Bureau of Labor Statistics projects that by 2014, the number of jobs in the sector—currently 13.5 million—will have jumped 27 percent since 2004.

Managed care has affected the career opportunities of doctors and other health professionals in significant ways, both positive and negative. As part of their cost-cutting initiatives, HMOs and other managed care plans steer patients toward primary care physicians rather than more expensive specialists—and toward even less pricey nurse practitioners where possible. Consequently, the job outlook is good for general and family practitioners, general internists, pediatricians, and nurse practitioners. Nurses in particular enjoy a buyer’s market when it comes to jobs.



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Geriatric specialists will likely be in high demand as the U.S. population ages and advances in medical technology make it possible to live longer. The market for many specialists has waned since the advent of managed care. Still, demand for certain specialties, such as cardiology, will remain strong as heart disease, hypertension, strokes, and other conditions associated with older adults become more common.

aDDITIONal rEsOurcEsAmerican Association of Colleges of Podiatric Medicine (www.aacpm.org) American Medical Student Association (www.amsa.org) American Physical Therapy Association (www.apta.org) HealthWeb (www.healthweb.org) The New England Journal of Medicine (www.nejm.org) United States Medical Licensing Examination (www.usmle.org)

OperAtIOnscarEEr OvErvIEWThe operations field comprises the activities that contribute directly to a company’s main lines of business.

Consider a company like Gap, which manufactures clothing and sells the merchandise in its own stores. Operations for Gap would include product manufacturing, shipments to the company’s retail stores, systems for tracking sales and returned items, Website orders, and customer service.

People in operations ensure that their employers’ businesses run smoothly, effectively, and professionally. They include assembly line workers, mailroom employees, and the folks who load and unload the trucks. Also in this category are office, purchasing, and supply chain managers; manufacturing-process consultants; and brokerage firm back-office employees, who see that securities transactions are completed in a

timely and accurate manner.Some industries are more operations-intensive

than others. You’ll find the most opportunities in sectors like banking, financial services, health care, manufacturing, retail, telecommunications, and transportation.

rEQuIrEmENTsWhile you can get a customer-service job with little experience, most operations positions require a four-year degree and industry background. Most universities offer degrees in operations management. But a degree in business can be just as good, depending on whether you want a more or less technical career in operations.

If you want to climb the corporate ladder, consider earning an advanced degree. Most VPs and COOs have an MBA, and many have a PhD. Without such degrees, promotions will take longer. It may also be more difficult to land a job at another organization.

To win a promotion, you must prove you can get the job done right the first time and manage all aspects of a project within budget. Attention to detail, strong analytical skills, and the ability to thrive in a team environment are essential.

If you know how to get things done and don’t mind working outside the spotlight, operations may be just the place for you. Operations professionals understand that the little pieces create the big corporate picture.


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carEEr TracksExactly which functions an operations department controls depends on the company’s size and structure. The following is a list of the most common operations jobs.

Facilities CoordinatorFacilities coordinators are responsible for an organization’s physical environment and how a building’s design, layout, furniture, and other equipment affect the efficiency and profitability of the business. They buy office furniture and supplies, determine when more space is needed, select appropriate vendors, and manage the facilities budget. A business management background and keen understanding of how working environments affect employee productivity are prerequisites.

Procurement Analyst/Purchasing ManagerIn large organizations, purchasing is a strategic endeavor that involves negotiating and managing contracts with suppliers. Purchasing managers work with materials managers and manufacturing departments to identify the organization’s material needs. They also develop metrics on which to base management of procurement costs, delivery times, service levels, and quality.

Procurement analysts are junior people who typically target a single aspect of purchasing. They might analyze historical purchasing costs, make cost projections, or find prospective vendors.

Logistics Analyst/ManagerAnalysts and managers in this field work on a wide range of logistics functions, including warehouse and distribution operations, forecasting, planning, logistics information systems, customer service, and purchasing. Analyst roles might address an area within the logistics function, while senior roles, such as manager or director, involve overseeing a team of analysts.

Managers negotiate contracts with suppliers and carriers, develop supply chain metrics and strategy, and

oversee day-to-day management of logistics functions. Analysts devote much of their time to problem solving, forecasting, and ensuring that operations are running within determined metrics.

Process EngineerProcess engineers develop processes that use energy, labor, and materials more safely and efficiently. They also develop metrics to manage those processes.

A process engineer in a distribution center might come up with a better way to deal with invoices and the flow of products. In a manufacturing environment, a person in this role might devise a better method for handling raw materials.

Transportation ManagerTransportation managers work under logistics managers to oversee the traffic of finished products to and from distribution centers. Duties may include managing outside carriers, monitoring costs using specific metrics, negotiating contracts, and ensuring that freight moves smoothly across international borders.

Warehouse Operations ManagerPeople in this role generally work in the retail, distribution, and transportation industries. Responsibilities include monitoring and optimizing warehouse inventories, hiring and supervising warehouse personnel, and ensuring that the warehouse meets safety regulations.

Customer-Service ManagerIndividuals in this position set service levels and ensure that customer-service reps meet those standards. They also work with other departments to keep customers satisfied while controlling service costs.

Product-Development ManagerProduct-development managers set detailed scientific and technical goals based on top management’s broad outlines. Those goals may include improvements in manufacturing processes, a product redesign, or the



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development of a brand-new product. Working with their staffs, the managers brainstorm concepts and identify technical problems to be resolved.

Manufacturing EngineerManufacturing engineers take a product design and determine how the product will be assembled. They define, design, and improve the necessary machinery and processes.

Regarded as the plant’s technical experts, these engineers are well-versed in process technologies, automation equipment, operations methodologies, and statistical controls. They work with small manufacturing teams.

Logistics EngineerLogistics engineers plan the distribution of work orders, mapping out the process from beginning to end. People in this role must constantly be on the lookout for improvements. The position requires attention to detail, strong problem-solving skills, and an ability to analyze business processes in depth.

Operations AnalystOperations analysts study the operations infrastructure, seeking areas where the system breaks down and finding ways to resolve those problems. Strategies may include using different vendors or transforming work processes. The job requires much in the way of administrative responsibilities. People in this role report to the operations manager.

Operations Manager/DirectorOperations managers or directors determine how the processes in their departments should be implemented and what duties must be performed. Duties include hiring and managing low-level staff, selecting vendors, completing departmental financial analyses, and setting a budget. People in this role report to the VP of operations or chief operations officer.

Chief Operations OfficerThe chief operations officer is responsible for ensuring

that the entire back end of the organization operates efficiently. The COO is the person to whom senior operations managers report.

JOb OuTlOOkThe Bureau of Labor Statistics expects job opportunities in operations to grow at about the same rate as the average for all occupations in coming years. Expanding industries such as high tech may offer more opportunities than relatively mature industries like manufacturing. Moreover, technology advances will lessen the demand for operations professionals in some career areas.

aDDITIONal rEsOurcEsAcademy of Management Online (www.aomonline.org) Institute for Operations Research and the Management Sciences (www.informs.org) The McKinsey Quarterly: Operations (www.mckinseyquarterly.com/category_editor.aspx?L2=1) Operations Management Center (www.mhhe.com/omc)

prOGrAmmInGcarEEr OvErvIEWProgramming—writing instructions to be carried out by a computer or other programmable device using a given programming language—combines elements of math, science, and engineering.

Computer programmers are at the center of information technology, or IT. Without their input, your PC, for example, would be nothing more than a dumb box. It couldn’t even solve a simple math problem without a series of programming commands.

Programming languages aren’t languages in the tradi-tional sense. Rather, they’re systems of code that instruct computers how to operate. Most programmers know several languages and must constantly learn new ones.


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rEQuIrEmENTsMost computer programmers have a four-year degree in computer science. However, a degree from a related technical field, such as math or engineering, is acceptable. Around 20 percent have an advanced degree in computer science or engineering. A limited number of programmers are self-taught. Certification programs, available through technical schools or community colleges, offer another route to employment.

While degrees are important, employers usually place more emphasis on actual work experience. Many recent college graduates with sparkling report cards can’t find work because they lack portfolios. A programmer who has a limited formal education but a strong knowledge of several programming languages has a better chance of landing a job. Take advantage of all available work opportunities and internships. The more experience you can show, the better your chances of finding a position after graduation.

It’s important that computer professionals continue to update their skills. Software development tools and technologies evolve. Programmers must seek trade shows, seminars, periodicals, and professional-education classes to stay abreast of changes in their industry.

carEEr TracksYou can find computer programmers in virtually all industries. While the working environment may vary, the goal of all programming is to make computers operate effectively. Usually, programmers work within a company’s IT department. Organizations sometimes bring in skilled contractors to work on specific projects. Smaller businesses may outsource part or all of their programming. Following is a list of the most common programming job titles.

Application ProgrammerApplication programmers develop the software we know best. Examples include word processing, video games, and accounting packages. Programs may be written to reach a wide audience, as in the case of off-

the-shelf software, or for a specific function within an organization.

Most application programmers work with a product from its inception through final testing. At the start of a project, they meet with designers and management to understand the nature of the program to be developed. Several strategies are designed, outlining the best ways to proceed. Any potential flaws or design complications will be noted for future reference. The options are then presented to the project manager, who selects the best one. At this point, programmers can begin writing code. After the program is completed, the applications team works with the systems programmers and quality assurance personnel to remove any bugs.

Application programmers must have strong communication skills and technical expertise. Most have experience working with multiple computer languages. Specialization in an industry, such as finance or health care, is common. Most companies require a four-year degree, but having recent experience in the industry and knowledge of a programming language can open doors.

Systems ProgrammerSystems programmers develop programs that control computer hardware and how it will interact with peripherals such as terminals, disk drives, and printers. At a fundamental level, systems programmers design and construct operating systems, which communicate directly with the computer hardware.

Also in this group are programmers who develop software that controls computer networks and lays out the paths along which data is routed. At a telephone company, for example, the systems programmer writes programs that direct millions of phone conversations across a network of wires and fiber-optic cables.

Systems programmers may work on a number of projects simultaneously. They’re frequently brought in at the end of the development cycle to find hardware glitches that prevent a program from operating properly. Their input is an important part of the troubleshooting process.



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All systems programmers have substantial technical backgrounds. They must have an intimate knowledge of the entire computer system. Almost all systems programmers have four-year degrees, and a significant number have advanced degrees in computer science.

Database AdministratorDatabase administrators, or database engineers, create software that controls and maintains massive databases. Large corporations, including online retailers and financial firms, typically use such programs. The computer systems are usually large and can encompass a vast network.

Web ProgrammerWriting pages in HTML is a relatively simple process. Until recently, self-taught HTML coders could use this to their advantage. The bar of entry into Web development was easily crossed. But there’s an increasing demand for websites that interact with users. Developers of these sites must have extensive knowledge of Perl and other object-oriented languages, such as Java. These languages create Web pages that not only interact with users, but also tap into information in large company databases connected to the website.

Project ManagerThe project manager oversees the work of the programming team, ensuring that the programmers finish their assignments on time and within the specified budget. Since the team reports directly to the PM, it’s up to that individual to see that all its members are cooperating with one another.

The project management role is part technical consultant, part manager. PMs must understand all the technical components in the development process. They work with upper management to make the final decision on how a project advances. Accordingly, they must be expert negotiators, excellent communicators and time managers, and experienced financial forecasters.

Companies say this is the hardest programming

position to fill. In fact, many hires don’t last through their first PM assignment. However, individuals who can successfully work under these conditions are always in demand.

A demonstrated ability to get the job done right may be more important than educational background. That said, many PMs have bachelor’s degrees in computer science, and some also hold MBAs. Moreover, numerous employers favor PM certification and require it for advancement.

Software EngineerSoftware engineers are concerned with the overall structure of a project. They apply general engineering practices, such as quality assurance and failure analysis, to the process of software production. Working directly with the QA team, they develop quantitative tests to identify programming shortfalls.

Usually, a software engineer has several years of experience as a general programmer or traditional engineer. A few lucky ones have been hired directly from undergraduate programs. Many have advanced engineering degrees.

Quality AssuranceThe quality assurance team has the final look at a program before it’s released to users. Its members work with the software engineers and programmers to find bugs that could halt a computer system. As part of that process, QA staffers develop testing procedures that simulate the many ways in which a program could be used.

Most technical organizations have QA teams that search through previously written code to find and fix errors. Smaller companies or non-IT businesses may outsource this function.

JOb OuTlOOkThe picture for programmers has changed drastically in recent years. Firms are consolidating their computer systems and often outsourcing programming overseas, where salaries are much lower. Off-the-shelf software is becoming more sophisticated and reducing corporate reliance on IT.


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As a result, many programmers’ wages have declined. Raises have been the exception.

While these factors have put pressure on jobs, the information age has created an ongoing need for skilled programmers. People who thoroughly know the latest programming languages, understand how business needs determine programming priorities, and work well in teams should find opportunities.

In general, the Bureau of Labor Statistics foresees programmer opportunities rising no faster than the average rate for all occupations through 2014. However, the future looks brighter for computer software engineers who count programming among their responsibilities but are often more involved in software design.

aDDITIONal rEsOurcEsComputerworld: Careers (www.computerworld.com/careertopics/careers) Dice (www.dice.com) Institute of Electrical and Electronics Engineers Computer Society (www.computer.org) Pencom Systems (www.pencom.com)

prOject mAnAGementcarEEr OvErvIEWProject management is all about setting and achieving reasonable and attainable goals. It’s the process of planning, organizing, and overseeing how and when these goals are met.

Unlike business managers who oversee a specific functional business area, PMs orchestrate all aspects of time-limited, discrete projects. For instance, a project manager who’s overseeing the development of a new product or service may manage folks from departments as disparate as marketing, IT, and HR.

Everyone practices project management to some degree. Farmers plan what, when, and how to plant;

how to take care of the crops as they grow; and how and when to harvest. Parents plan what dinners to prepare for their children. (If they have strong project management skills, they’ll delegate chores like setting and clearing the table.)

In business, project management is an art, a skill, and a demanding full-time job. PMs are key employees in the architecture, construction, engineering, manufacturing, and real estate development industries. But many opportunities for PMs exist outside these areas. For example, in high tech, biotech, and pharmaceuticals, PMs are responsible for launching products, developing new technologies, and managing alliance programs with strategic partners.

Large corporations such as insurance companies and banks may also hire PMs to manage the implementation of new standards or practices in their many branch offices. Internet companies often look for project managers to oversee site launches or the development of new applications.

Whether a project involves releasing a product, building a new office site, or launching a rocket, PMs make sure everything comes together in a timely, cost-effective manner—and take the heat if it doesn’t. Their high-profile, high-risk work demands multitasking ability, analytical thinking, and excellent communication skills.

rEQuIrEmENTsEducational requirements for project managers vary greatly according to the type of projects they manage. For construction projects, a civil engineering degree is usually necessary. High-tech PMs may need a degree in electrical engineering or computer science. In most cases, the most successful project managers have some type of formal business training, including an MBA. Project management has a direct effect on a company’s bottom line, so a PM must be able to evaluate a project’s financial repercussions from a corporate viewpoint.

Project managers also need strong leadership skills, the ability to set and stick to a schedule, multitasking



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capability, analytical thinking, strong communication skills, and an orientation toward getting things done.

cErTIFIcaTIONProfessional certification in project management is available through the Project Management Institute, which bestows the profession’s most globally recognized and respected credential: certification as a Project Management Professional (PMP). To obtain this, applicants must satisfy requirements involving education and experience, agree to a code of ethics, and pass the PMP certification examination. Many companies require the PMP credential for employment or advancement.

carEEr TracksFew people start in the field as full-fledged project managers. Most are offered an assistant position on a project management team and are assigned responsibility for one aspect of the work. As you gain experience, you may be assigned more tasks until you’re ready to lead others in completing an entire project.

Project CoordinatorA project coordinator is an entry-level position that offers exposure to the work of project managers. It’s usually an administrative position involving paperwork. You generate and distribute the reports that keep the project management team, company staff, and others informed of the project’s progress. You also schedule meetings and assist the management team.

Project SchedulerFor larger projects, a project scheduler runs the software, inputting the information supplied by the management team and updating files as needed. This is a technical position that involves a great deal of computer work and little actual management.

Assistant Project ManagerAssistant PMs don’t necessarily assist the project

manager directly. Rather, they’re usually assigned specific tasks to manage. They meet regularly with the PM to report progress and problems.

Project ManagerIn this position, you may run a project yourself or lead a management team, delegating task management to assistants. PMs report to the owner of the project, whether that’s a real estate developer, a government agency, or your company’s senior management. You oversee the budget and schedule, as well as take responsibility for the project’s completion.

Senior Project ManagerMany large organizations that tackle multiple projects simultaneously—especially construction and engineering companies—employ a senior project manager. This individual supervises a company’s project managers, coordinating the allocation of company resources, approving costs, and deciding which projects should take priority.

JOb OuTlOOkWhile project management in general is going strong, job prospects are especially promising for PMs in the biotech and high-tech arenas. Project management opportunities depend on the number of projects taking place at any given time. When the economy is booming, demand for PMs is usually widespread. When the economy is less robust, look for opportunities in hot industry sectors.

A wide range of industries use project managers to handle everything from product launches to restructuring efforts.


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aDDITIONal rEsOurcEsPMForum (www.pmforum.org) Projectmanagement.com (www.projectmanagement.com) Project Management Institute (www.pmi.org)

supply chAIn mAnAGementcarEEr OvErvIEWBehold leaf-cutter ants! The leaf-cutters themselves cut leaves from rain forest trees into manageable pieces. The forager ants carry the pieces—each hauling up to 30 times its own body weight—in a perfectly ordered line back to the gardener ants, who continue the work of the colony.

As a species, humans have no such innate sense of how to move products from their source to end users. Supply chain managers create processes for businesses to do what ants do naturally: They attempt to combine and optimize the steps required to produce the right amount of the right product and deliver it to the end user at the right time.

INSIDER SCOOP“Supply chain management involves everything that happens to a product from cradle to grave.”

The focus of this profile is on those industries for which supply chain management is essential to remain competitive: manufacturing, retail, and logistics and distribution. Manufacturing companies emphasize materials management and sourcing functions. Retail and logistics companies highlight logistics, warehousing, and inventory management.

rEQuIrEmENTsFor the most part, supply chain management recruiters don’t want generalists, even at entry level. Rather, they usually turn to a select group of SCM programs,

including those at Arizona State and the University of Wisconsin. If you aren’t in a school at which the firm recruits, an internship might get you in through the back door.

Because the market is soft now, companies are demanding industry and functional experience even for entry-level positions. In the MBA world, they look for supply chain course work or dedicated supply chain programs.

Certifications aren’t required, but they help in a slack market. Common certificates are Certified Purchasing Manager and Certification in Production and Inventory Management. More than 25 percent of all purchasing professionals are CPMs, and nearly 10 percent hold a CPIM.

Proficiency in an enterprise resource planning software package such as i2, Oracle, or SAP greatly enhances your marketability. So does painstaking attention to detail, which you’ll want to demonstrate when communicating with prospective employers, either in informal conversations or during the interview process. Finally, because of the cross-functional nature of the field, communication and people skills are paramount.

carEEr TracksWhile there’s no single career trajectory, insiders say the apex of the supply chain cosmos is VP of supply chain management—which seldom leads to COO, let alone CEO. Although supply chain management has become more cross-functional in recent years, the field has yet to gain traction as a sparkling career path in most companies.

The following are some of the general career opportunities in supply chain management.

Supply Chain ManagerThe supply chain manager is the holy grail of supply chain management and logistics—both sought after and hard to come by. The role spans logistics and distribution, purchasing, manufacturing, inventory management, and even marketing and product development.



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The supply chain manager reviews existing procedures and examines opportunities to streamline production, purchasing, warehousing, distribution, and financial forecasting.

VP, Supply Chain ManagementAt the top of the SCM food chain, the VP is part of the senior management team and usually reports to the COO. The role often embraces all supply chain functions, including logistics, facilities, and purchasing. The VP translates executive strategies into supply chain functions. Directors of functional areas in the supply chain typically report to the VP.

Production Analyst/ManagerProduction managers serve as mini plant managers in a manufacturing company. Their responsibilities include coordinating production schedules, forecasting labor requirements, maintaining quality, determining material requirements, and managing finished-goods inventory/output.

Many companies seek people with Six Sigma and lean manufacturing experience. The career path in production management might be two to four years as an analyst, another two to four years as a production or plant manager, then on to director-level roles.

Logistics Analyst/ManagerAnalysts and managers work on a wide range of logistics functions, including warehouse and distribution operations, forecasting, planning, logistics information systems, customer service,

and purchasing. Analyst roles might address an area within the logistics function, while senior roles such as manager and director involve overseeing a team of analysts. Managers negotiate and contract with suppliers and carriers, develop supply chain metrics and strategy, and oversee day-to-day management of logistics functions. Analysts devote much of their time to problem solving, forecasting, and ensuring that operations are running within determined metrics.

Process EngineerProcess engineers design processes that make better and safer use of resources. They also develop metrics to manage the improved processes.

Account Specialist/Customer ServiceThe account specialist/customer service role is an entry-level position for newly minted SCM majors. Duties include resolving customer-service problems, building relationships with clients and carriers, and coordinating shipments for clients.

Supply Chain Management ConsultantThe consultant is a senior role, usually post-MBA. Along with the analyst and project manager, the consultant makes up the team on an engagement.

SCM consultants review existing procedures and examine opportunities to streamline production, purchasing, warehousing, distribution, and financial forecasting. In addition, they devise strategies to cut costs, boost quality, and improve customer satisfaction.

A supply chain manager develops strategies to cut costs, improve quality, and increase customer satisfaction.

It generally takes five to seven years to become a manager, and ten to fifteen years to achieve director status.


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JOb OuTlOOkAccording to the Bureau of Labor Statistics, supply chain management jobs will grow more slowly than the national average through 2014. In the near future, significant declines in the manufacturing sector are expected to put a damper on SCM positions generally. However, those aspiring to the supply chain manager role stand to benefit as companies reorganize around supply chain management, as opposed to logistics or materials.

In addition, candidates should find many SCM opportunities in the health care sector, the country’s largest growth industry. Look for openings in burgeoning subsectors such as specialty pharmaceuticals, biotech, and medical-device manufacturing.

aDDITIONal rEsOurcEsCouncil of Supply Chain Management Professionals (www.cscmp.org) Institute for Supply Management (www.ism.ws) The Stanford Global Supply Chain Management Forum (www.stanford.edu/group/scforum) Supply-Chain Council (www.supply-chain.org)

weB develOpmentcarEEr OvErvIEWWeb developers conceive, design, build, program, brand, market, support, and manage websites. They include product and project managers, writers, designers, information architects, programmers, and database administrators.

These professionals live in a 24/7 world, where they contend with server migrations, download times, and site crashes in a virtual space driven by databases. Their goal is to make websites user-friendly, especially to generate revenue from e-commerce sales, advertising, and subscriptions.

Web developers put in long hours. Many work on a contract basis; others are part of an in-house staff, professional service, or consulting firm.

At small organizations, Web developers wear different hats. At larger organizations, their roles tend to be more sharply defined.

rEQuIrEmENTsBecause there are so many functions in Web development, many skills can lead to a job. Experience with scripting and markup languages such as HTML, CGI, Java, and XML is required for many production and programming positions. Knowledge of Web development tools such as Acrobat and Dreamweaver can be invaluable.

If you’re going into Web design, minimum requirements include knowledge of HTML, Illustrator, and Photoshop. If you’re going into content development or production, HTML and writing skills will be important. Experience with Web databases is a required skill for most database jobs.

In addition to technical skills, companies want to hire people with a firm grasp of how the Web works, experience using the Web for research, and knowledge of trends in e-business. It’s important to be able to work effectively with a team and communicate both verbally and in writing. Organizational and project management skills are critical to production. Many roles require the ability to persuade others who don’t necessarily report to you.

Numerous colleges and universities now offer programs specializing in Web design or e-commerce. Traditional marketing, graphic design, communications, computer science, and engineering degrees can help you break into the field, but they probably won’t be enough on their own. Many vocational and technical schools offer specialized training. One of the best ways to get your start is by building a portfolio through internships or classes. A good internship will expose you to all aspects of Web development, including group collaboration.

Web developers must continually update their skills. Computer technology changes in the blink of an



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eye. The skills that helped you get your last job might not help you keep the next. Continuing-education classes, trade shows, seminars, and periodicals on Internet topics abound. Take advantage of them.

carEEr TracksWeb developers come from a variety of backgrounds. Some have grown up with the Internet. Others have adapted offline skills such as brand management, desktop publishing, and journalism and applied them online.

The following description of career tracks provides a general introduction to opportunities in Web development. Bear in mind that job descriptions in this field are fluid. Many roles evolve into others. A title at one company may mean something different at another.

Web DesignWeb designers are responsible for creating the look and feel of a website. They create logos, banners, and other graphics; determine where to put text; and sometimes structure a site’s navigation, either alone or in collaboration with a user interface designer or information architect. Designers need to think about download speeds as well as creating an attractive and functional site. They also work closely with the marketing team and branding experts to ensure that a site conveys a consistent image. Smaller organizations that lack the budget or inclination to create and maintain a website themselves frequently outsource the design function.

Web ProgrammingProgrammers turn the Web development team’s concepts into a functioning site. They must thoroughly know HTML, the basic coding language of websites. Most are experts in programming languages such as ColdFusion, Java, JavaScript, Perl, and PHP. Programmers should also have experience with Web development tools such as Dreamweaver and Flash. These languages and tools enhance the capability of websites by adding animation, sound, interactive

games, online forms, and e-commerce functions to otherwise flat pages.

While highly technical coding knowledge is essential, programmers must also have a strong understanding of user interface design. They need to know how people view, use, and interact with their computers. A successful Web programmer is able to put this understanding into practice.

Web ProductionWeb producers’ roles vary by organization. In some cases, they code a website’s text and graphics. In others, they coordinate across departments to see that all content elements, including links and online forms, work properly.

Producers coordinate between various Web developers to ensure the site supports the company’s business objectives. They work with users to determine the site’s product offerings and look and feel. They work with the design, content, and programming teams to ensure the site functions effectively. They track user behavior and work with other departments to incorporate what they learn into the site’s general operation.

Content DevelopmentContent developers often work in the Web production department. They create the content—whether text, audio, or video clips—that visitors see when they access a website. Content developers write, edit, shape,

In a sense, the producer orchestrates the other developers to ensure that everything works harmoniously to improve the company’s business.


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and publish articles, features, and other information on a website. They may also work with programmers to define and build a salary calculator or interactive game. Often, content developers are responsible for the look and feel of a particular area within a site; they may add and move information, or send newsletters to users.

Project ManagementProject managers lead teams to get things done. They set a production schedule, enforce deadlines, and see that everyone works together. They’re usually responsible for allocating resources, both human and financial. Project managers may lead discrete projects, such as adding community features to a website. They may also oversee wider areas. The role requires excellent communication skills; a strong technical background; an understanding of budgets, project plans, and schedules; and management experience.

System AdministrationThe system administrator is the IT professional who maintains and services an organization’s server, hardware, and software. People in this role look after the security of the computer system and how it interfaces with the Internet service provider.

An e-commerce site may also have a technical administrator for its transactional software. The programming behind online monetary transactions is far more complicated than standard Web production. Security and technology issues are the main concern of technical administrators, who ensure that e-commerce transactions run smoothly and don’t bog down other Web applications.

JOb OuTlOOkWeb development isn’t the “anyone can get a job at a Web-company” career it was half a decade ago. But the number of Internet users tripled between 2000 and 2005, and advances in technology will make Web skills an ongoing need in the corporate world, government, academic institutions, and the nonprofit sector.

As wireless and broadband technologies move us

closer to an Internet that integrates with all aspects of our lives, the nature of jobs in Web development will continue to evolve. Those seeking a career in the industry should pay attention to the development of new technologies and industry trends. They should learn new skills relevant to changes in the industry.

aDDITIONal rEsOurcEseClasses.org (www.eclasses.org) Internet.com (www.internet.com) Red Herring (www.redherring.com) Web Developer’s Virtual Library (http://wdvl.internet.com) Webdeveloper.com (www.webdeveloper.com) Webmonkey (www.webmonkey.com) WebReference.com (www.webreference.com) World Organization of Webmasters (www.joinwow.org)


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