Bruin Business Review

CAREER TIPS FROM

KAPLAN Page 12

BUSINESS SCHOOL PROFILE: UNIVERSITY OF MICHIGAN—ANN ARBOR’S

ROSS SCHOOL OF BUSINESS Page 10

RECRUITING TIPS FOR INVESTMENT BANKING page 5

AND CONSULTING Page 7

ACCOUNTING INTERNSHIPS PAGE 8

FIRM PROFILE:

WASSERMAN MEDIA GROUP

Page 15

Bruin Business Review 2

Calendar 3 A look at this month’s events

News of the Week 4 Obama’s New Unemployment Problem

Investment Banking 5-6 Recruiting Tips

Consulting 7 Recruiting Tips

Accounting 8-9 How to get a Summer Internship

Business School Profile 10-11

University of Michigan-Ann Arbor Career Tips from Kaplan Test Prep and Admissions Seven Things You May Not Know About the Graduate Admissions Tests

BBR STAFF PRESIDENT Sunny Wong EDITOR IN CHIEF Benjamin Lo VICE PRESIDENT, OPERATIONS Julie Chen VICE PRESIDENT, MARKETING Christine Liu VICE PRESIDENT, FINANCE Eric Park

ASSOCIATE EDITOR Christina Carillo COPY EDITOR Jesus Heredia OPERATIONS David Vayzner FINANCE Stephen Moock Jin Sun MARKETING Stephanie Ju Robert Chang Chris Young

MARKETING Jane Kim CREATIVE DEVELOPMENT Amorette Jeng Lona Zhao ADVISORS Fred Kim Dmitry Shuster

INSIDE Sports Management

Read about how to break into the industry

and the global economy of sports. Then

take a look at an industry leader of sports

business: Wasserman Media Group.

13-17

Cover, Table of Contents, and Article photos were provided

by www.sxc.hu unless otherwise stated.

Cover Photo edited by Lona Zhao, with photos by:

‘penywise’ and ‘svilen001’.

Table of Contents photos (from top-left to bottom-right) by:

‘redvisualq’, ‘lm913’, and ‘LKay’.

PHOTO CREDITS

12

Bruin Business Review 3

THE CALENDAR

November 18 Eli Lilly and Company Information Session

Time: 6:30pm- 8pm Location: Career Center, 2nd Floor, Rm. 200

November 19

Austin Commercial Information Session Time: 6pm- 7pm

Location: Career Center, 3rd Floor, Rm. B

November 19

UBS Information Session Time: 6pm- 7:30pm

Location: Career Center, 3rd Floor, Rm. A

January 19

University of Phoenix Information Session Time: 5:30pm – 7pm

Location: Career Center, 2nd Floor, Rm. 200

January 26 Paul, Hastings, Janofsky & Walker LLP

Time: 5pm- 6:30 pm Location: Career Center, 2nd Floor, Rm. 200

MAJOR EVENTS

Bruin Business Review 4

By Julie Chen Senior Staff Writer

OBAMA’S UNEMPLOYMENT PROBLEM

The U.S. economy will be slow to recuperate from the deepest recession since the 1930s as rising unemployment curtails consumer spend-ing, Federal Reserve officials said. The unem-ployment rate has hit double digits for the first time since 1983, according to a Labor Depart-ment report. At 10.2%, 190,000 jobs were cut across the nation in October. President Obama is now confronted with a new political chal-lenge, as the recent budding economic recovery is now being questioned.

“The unemployment rate has not been this high since the economic

downturn of 1983.” The unemployment rate has not been this high since the economic downturn of 1983. Many economists predict that it will continue to spiral upward throughout the coming year. The gov-ernment’s monthly unemployment report stated that the worst recession in a generation consisted of 15.7 million jobless workers and 5 million workers that are just scraping by.

Although claiming that substantial government spending programs have already created or saved 640,239 jobs, Obama signed legislation early in November to provide additional aid for unemployped workers. The legislation also ex-pands and extends tax credits for homebuyers.

“President Obama is now con-fronted with a new political chal-lenge, as the recent budding eco-

nomic recovery is now being ques-tioned.”

However, many economists feel like neither measure can improve the worsening employ-ment picture or quickly stimulate the formation of more jobs. Economic growth is predicted to be uneven across sectors, with commercial real estate wavering, while manufacturing, trade, and consumption expand. Talks of another stimulus package, similar to the $787 billion one in February, appear to be the best solution.

The increase in unemployment is particularly troublesome because it is not the result of an increase in labor force, which often occurs when an economic recession begins to dissipate, but is a reflection of the ongoing decline in people with jobs. The unemployment rate in California has consistently been about 2 points higher than the national average. On the political front, the unimproved state of the economy threatens the Democrats’ control of Congress as the 2010 off-year elections approach.

NEWS OF

THE WEEK

Bruin Business Review 5

Of Mice and ManagersOf Mice and Managers:: An Idiot’s Guide to An Idiot’s Guide to

Investment BankingInvestment Banking BY CHRIS YOUNG

STAFF WRITER

There are many misconceptions about the field of investment banking. Aayush Dureha is a 2008 UCLA graduate. His story is also very familiar to many UCLA students and alums. He was a transfer from Santa Monica College. When he arrived here, he felt at a loss. Transfer students undergo an extraordinary amount of pressure; they are thrown into the grind with little to no guidance into what is a very different world from what they are used to. After a quarter of adjusting, he attended several recruiting events. At an event held by UBS, he met a manager of a bank here in Los Angeles. His story becomes one of bouncing from job to job, as in intern first for an ac-counting firm, then a bank, until eventually, he found himself at Oppenheimer. He found the firm very relaxed and down to earth. The hours were long, but not unbearably so. The best part was, he really enjoyed working at Oppenheimer.

Andrew Yeoh specializes in finance and investment banking for Undergraduate Business Society, one of the largest busi-ness related organizations on UCLA’s campus. His story is one very familiar to many students and alumni of UCLA. When he entered UCLA years ago, he never considered going into the investment banking field. It was too much of a commitment, far too cutthroat, and just not for him. Eventually, he landed himself a mentor and found himself an internship with Smith Barney’s in their Private Wealth Management department. However, despite being such a promising job, he was only cold calling clients. He did not have the hands on job he ex-pected. He remained vigilant though, with help from his men-tor, he landed another internship in the field this summer. With that experience, Andrew signed with Rothschild in New York.

Ask a UCLA Economics major what they want to

be after they graduate, and you usually get a fairly predictable cohort of answers. Typically, a UCLA stu-dent wants to be an accountant, a lawyer, every now and then, even a politician. One of the most common answers is investment banker. Investment banking is an industry shrouded in a fog of stereo-types and assumptions. The specter of long eighty-plus hour work weeks loom over with extremely fickle returns. Add the cutthroat nature of your col-leagues, the industry seems very daunting. However, many students still want to devote themselves to very lucrative field. The journey, especially for stu-dents from UCLA which does not have a finance or business program, is a long and treacherous one.

Bruin Business Review 6

Aayush and Andrew both gave me insightful knowledge on in-vestment banking. Being two people who have experienced recruitment firsthand, they know exactly what was needed to make it in investment banking. There were three things a UCLA student needs to break into the IB field: mentor, knowledge, and experience. A mentor serves as a foundation for everything else. A mentor really does not even have to be someone in the industry. Someone who is passionate about the field can serve as a source of information and support. They can be found all over even within UCLA in organizations such as UBS, Bruin Fi-nance, and the business frats. Mentors serve as a constant source of advice and grounding. As in any other experience, there will be ups and downs, and having someone help through the ebbs of the job hunting experience could mean the differ-ence between quitting and persevering.

“Investment banking is an industry shrouded in a fog of stereotypes and assumptions.”

Learning about the industry gives an extra edge above the com-petition. Mentors serve as a great source of knowledge. Their knowledge can augment research into the field based on their own experiences. Even just reading literature about the field helps. Books such as the Vault Career Guide to Investment Banking or The Investment Banking Handbook offer distinct viewpoints on the process of breaking into the industry. They also provide knowledge of what it really means to BE an invest-ment banker. However, despite being great resources, books can only provide general knowledge. Collecting mentors and learning from people in the field provides much more practical skills from people who can relate to the individual. In addition, organizations such as Bruin Finance provide specific on campus assistance geared towards the investment banking industry.

“…There were three things a UCLA student needs to break into the IB field: mentor,

knowledge, and experience”

Enough knowledge facilitates experience. Internships give you the first hand experience in the field. This is where people put in the most work and effort. For a UCLA student, landing an intern-ship is almost always a two quarter process. The fall quarter is a prep quarter, where physical and mental preparation gets the prospective intern ready for the real gauntlet in the winter. Events such as UBS’s Investment Bank Workshop give prospec-tive investment bankers an opportunity to get a real taste of the industry. With the arrival of winter comes the real recruiting.

“For a UCLA student, landing an internship is almost always a two quarter process.”

All the events and the interviews occur in winter. Here at UCLA this is doubly difficult. UCLA does not have a Business or a Fi-nance program, so often times, UCLA is overlooked in favor of schools which do such as USC, Claremont, Stanford, and Cal in California and the traditional finance bastions on the east coast. UCLA does have resources that help. BruinView for example is a great resource for possible internships as well as a great re-source for interview help. Also, programs through the Student Alumni Association such as Interview with a Bruin give a great opportunity to practice interview skills and network. The career center also provides networking opportunities as well as other resources such as resume building and interview help. Aayush and Andrew’s stories both serve as a prime example of these factors coming together to reach the final goal of breaking into the IB field. Though the road to becoming an investment banker from UCLA is difficult, the journey is certainly not impossible.

Bruin Business Review 7

The headquarters for top strategy and management consulting firm McKinsey & Co. occupies about fifteen floors of a New York City skyscraper. Consulting is one of the most desirable fields for business and non-business students to enter after graduation. This means that those fifteen floors can fill up quite fast. Therefore it is necessary for recruits be formidable in every aspect of the internship and hiring process to be no-ticed by any top consulting firm. Recruits must first begin to attend info sessions and career fairs and interact with employees from the firms. Since this is where first impressions are made, it is a crucial step in the hir-ing process. When attending a career fair, recruits should take advantage of the opportunity to talk to employees of the firms that are in attendance. Recruits should attempt to talk to em-ployees of different positions in the firm, but most time should be spent with the consultants as opposed to the recruiters who most likely work in human relations. Interested candidates should ask recruiters basic questions about firm specifics. De-velop in depth conversations with the consultants who have

more say than recruiters in who will be selected for interviews. Also, try to find consultants who either graduated from UCLA or work at offices nearby. This will give you more of a connec-tion to them and allow you to seem more personable in con-versation. Make sure to get a business card from everyone talked to, but do not hand out resumes to everyone unless they ask for one as this may seem aggressive. Within one day of the event it is important to send a follow up email thanking every-one you met and talked to. This is both polite and will make your name more memorable for employees when they are go-ing over applicants.

For seniors seeking jobs this summer and fall, recruiting season is almost over. However consulting recruiting season targeted towards juniors is coming up very soon in the winter. Most of the info sessions including Bain & Co. will be held in January and February. Due to limited resources there are less networking opportunities offered for internships than for full time positions. This places more responsibility on the student to reach out and connect with the firms themselves. It is im-portant to stay on top of the deadlines when internship appli-cations are due. Boston Consulting Group and McKinsey & Co. have the earliest deadlines (BCG deadline is January 8th), and many people miss them since they occur right after the holi-days. The strict deadlines mostly apply to large firms, where smaller firms are usually more lenient about deadlines. The next phase of the recruiting process occurs after a firm has offered you an interview. Interviews with consulting firms con-sist of a unique interview style made of up generally two phases. The first interview is a generic behavioral interview where you are asked questions about your strengths, weak-nesses, leadership ability, and other typical interview ques-tions. The other phase called the case interview is meant to test your skills on a mock problem. On such interview, you would be working on a team of consultants as an employee of the firm. Preparing for the case interview can be very difficult and time consuming. The best way to practice is to work on sample cases. Most top consulting firms have sample cases available in their websites. The best way to practice is by work-ing on the interviews with a friend so that you expose yourself to solutions to the cases that you would not have necessarily thought of on your own. It is also a good idea to practice sim-ple math calculations for percentages and profit margin. Being able to do such tasks in your head while working on the case is very advantageous. The best way to prepare for the case inter-view is just practice, practice, practice.

CONSULTING RECRUITING TIPS

BY STEPHEN MOOCK STAFF WRITER

Bruin Business Review 8

GAIN TECHNICAL AND PRACTICAL ACCOUNTING EXPERIENCE

It is important to give yourself a competitive edge in the re-cruitment process. Give your potential interviewers a good and compelling reason to pick you over somebody else. A back-ground in accounting and exposure to it in the real world will be very valuable. Taking the accounting classes offered by the Anderson School of Business is a strong signal for the firms that you have the technical knowledge needed. Most firms will look at your accounting grades and put an emphasis on the interme-diate accounting courses, which for UCLA are Management 120A and Management 120B. Furthermore, participating in accounting clubs such as the Student Accounting Society and volunteering in programs such as VITA (Volunteer Income Tax Association) will show to the firm that you have had actual ex-perience in the professional accounting world. Another source of experience could be to apply to summer leadership pro-grams that accounting firms provide. Usually this is done during the sophomore year of college, and it can provide you with a unique experience of the firm’s culture and environment. It is your job to sell yourself to the firm. Having a resume with some accounting experience and being able to impress your inter-viewer with your accounting knowledge and expertise is a ma-jor plus and will put you on the top of any accounting firms list of potential job candidates.

DO YOUR RESEARCH

Even though the recruitment season begins during winter quarter for UCLA students, it is vital to start preparing in ad-vance. A strategy is to research the major accounting firms in Los Angeles and see which one would be the right fit for you. Generally accounting firms are separated into three different tiers. The biggest accounting firms belong to a group labeled the “Big Four”, which includes Deloitte and Touche, KPMG, Ernst and Young and PriceWaterhouseCoopers. Then there are the “mid-tier” firms, which are smaller than the big four, but still have considerable influence outside their regions. The last tier represents regional accounting firms, which are much smaller and more local. Researching disadvantages and advantages of each different tier might make your experience much more enjoyable. It is also important to research specific firms for finding a right fit. In general, interviewers will know whether you have done your homework and are serious about making a commitment. UCLA’s online job system (Bruin View) makes it easy to see which firms will be partici-pating in the recruitment process.

ACCOUNTING

GET THAT

Summer INTERNSHIP BY DAVID VAYZNER STAFF WRITER

“It is your job to sell yourself to the firm.”

Bruin Business Review 9

PRE-RECRUITMENT CHECKLIST

Research accounting firms that will be participating in the recruitment process

Research different types (Big, Medium, Small) of ac-counting firms and see which one is the best fit

Get involved in accounting groups and try to gain some real world accounting experience

Take management classes offered by the Anderson School of Business

Prepare a Resume and a Template cover letter. Be aware that the big four firms have different cover let-ter requirements. Make sure that you include every-thing that the firm is looking for.

“Establish contacts with potential future employers.”

The end of winter break is approaching and so is the re-cruitment season. What are the next steps to take? The first and most important step is to make sure you are able to apply for the positions desired! Go on the UCLA career center website and take note of the resume submission deadlines for each firm. While Bruin View is a really easy online tool that simplifies the application procedure, it is your responsibility to make sure that you meet the dead-lines. Most firms will not take late submissions. Submitting an application is not enough. It is important to meet all requirements for the applications, as most firms ask you to apply through the UCLA website and their own website as well. To gain an additional edge, it is pertinent to network at events that these firms host. Establish contact with your potential future employers. Get to know them, tell them a little about yourself. Appear confident and sure about yourself. A good first impression at these events will help you when it comes time for your interview. In addition go-ing to the events that these different firms host will give you more of an idea about the firm and how it operates. Do not make the mistake of disregarding the networking process. Networking is very important because it estab-lishes a familiarity with your potential future employer and shows that you take the recruitment process seriously. Events that the firms will hold are available at the career website.

THE INTERVIEW PROCESS The interview process is where all your hard work will finally payoff. The interview process is actually a two step process. The preliminary step is making sure that you got a first round interview. Most firms will have a pre-select date, on which they will email you there decision. It is important for you to keep track of this date. If you got the interview, you can arrange a time to meet online. If you check your email too late, there might not be a good time slot left for you. The first interview will be held on cam-pus. For your interview, dress up in business attire, ap-pear confident and sell yourself to the interviewer. The interview lasts about 30 minutes with a professional from the firm. More and more firms are asking behavior ques-tions, to assess whether you would be of help to the firm. Answer the questions that are asked of you by describing experiences that show you will be a potential asset to the firm. The interviewer will also be assessing whether your personality is a good fit for the firm. It is important to show that you have personable skills and that you would be able to work well in a professional environment. If everything goes well, you will be invited to a second inter-view. This interview will be held at the firm’s office. Be confident and relaxed with the knowledge that this firm is interested in you. Send a thank you letter via email after the interview and await your results.

Bruin Business Review 10

By Amorette Jeng Staff Writer

University of Michigan - Ann Arbor’s Stephen M. Ross Business School is a public research university is considered today as one of the eight original “Public Ivies”. Ranked the 13th best MBA program in the U.S. for this year by BusinessWeek and U.S. News and World Report, Ross School of Business prides itself for its unique action-based approach to a solid business education. This ap-proach exposes students as well as faculty to invaluable experiences and situations that businesses and other such entities face in the real world.

Master of Business Administration Programs Full-Time MBA A two-year program that offers a variety of programs, core curriculum courses, and experience that all aid its students in becoming an analytical and confident leader. Its programs include the renowned Multidisciplinary Action Projects (MAP) course that exposes first year students to participate in analyz-ing and solving a challenging organizational situation. The first year is spent developing business fundamentals with courses like accounting, business information technology, among many others and ends in the MAP course. The second year is comprised of electives to help broaden the experiences ob-tained while working towards an MBA degree. Over 20 dual-degree programs are also offered so that the student can pur-sue interests in other disciplines as well (what are such disci-plines). Students can also participate in a variety of highlighted programs such as the Ross Leadership Initiative’s Crisis Chal-lenge which is a student team competition based upon a simu-lated business crisis.

Part-Time MBA Ross offers two programs for the part-time MBA degree: Weekend and Evening. These programs are tailored towards individuals who have busy schedules and are unable to com-mit to a full-time MBA program. The Evening program is very flexible in terms of scheduling and offers a customizable MBA. The Weekend program offers courses twice a week for two years. Both Weekend and Evening degrees are valued equally around the world.

Executive MBA (EMBA) This program offers a degree within twenty months through a personalized leadership development perspective. Almost a third of a typical EMBA class at Ross is not from North America and most have at least ten years of leadership experience. Thus, the program is greatly distinguished for candidates rang-ing from a variety of industries in order to further their execu-tive education.

Global MBA A sixteen-month program that specifically train individuals who are already employed and are planning to seek out a managerial position upon completion of this program. The Global MBA offers an educational experience that focuses on personal relationships and interactions between an individual and their employer/sponsor. The program allows individuals to access courses in both America and Asia.

ROSS SCHOOL OF BUSINESS—OUTSIDE VIEW OF ONE OF THEIR NEW BUILDINGS

Bruin Business Review 11

Masters of Accounting (MAcc) A ten-month program that is usually completed after a student finishes their undergraduate education. A thesis is generally completed in addition to the ten months, which leads to a full year of education in pursuit of the degree. Completion of this program is usually in preparation for the Certified Public Accountants’ exam.

Doctoral Studies Program

Admissions

The PhD program at Ross places emphasis on integration of theoretical ideas through research along with practice. The goal of the program is to produce future faculty for top business schools around the world. A close connection with corporate leaders is provided as well to further an

Full-Time MBA Applying to the Ross School of Business for the Full-Time MBA program requires a multitude of materials and requirements in order to ensure your position as a competitive applicant. Requirements:

Current resume GMAT scores (if you apply now, the scores must be from no later than October 10, 2004) Undergraduate and Graduate School transcripts 2 letters of recommendation submitted online 4 essays (prompts are provided online by the Ross School of Business) $200 application fee

If your application is reviewed and approved, you will be invited to attend an interview.

What the Admissions Board Looks For… Leadership as well as teamwork skills Academic strength demonstrated through your grades and GMAT scores A clearly stated goal as to why you want to pursue an MBA degree at the Ross School of Business There are no prerequisite courses, a requirement for traditional business experience, nor a specific way to ensure your accep-

tance into the school. However, the Ross School of Business highly recommends a strong background in college-level mathematics (Calculus specifically).

A Helpful Online Tool for Career Assessment… If you are considering getting an MBA, the Ross School of Business, like some other top business schools, offers an online tool for career assessment through a program called CareerLeader™. To access the program you must first pay for it, but the University of Michigan’s Ross School of Business offers a discount for the program with the simple step of filling out a pre-registration form. You can find more information as well as the form at: http://www.bus.umich.edu/Admissions/Mba/CareerDevelopment/Career/

Additional Admissions Information Admission criteria for the Ross School of Business differ for each program and have different deadlines. For more information re-garding program types as well as admissions material, visit:

http://www.bus.umich.edu/

*All information regarding the Stephen M. Ross School of Business at the University of Michigan-Ann Arbor courtesy of http://www.bus.umich.edu/

INSIDE ONE OF THE NEW BUILDINGS AT ROSS SCHOOL OF BUSINESS

Masters of Supply Chain Management (MSCM) A one year program that prepares individuals interested in being leaders in global movement of goods, services, and informa-tion. In this program, Ross School of Business provides a paid summer project integrating teamwork and real-world experience, a MSCM boot camp, invaluable access to the corporate world as well as prominent figureheads in various industries, as well as an education provided by a distinguished faculty.

Bruin Business Review 12

For those considering plans to pursue advanced degrees, following are some lesser-known insights on the admissions tests required for application to law, business and grad school.

Students who take the exams while still in school have a better chance of scoring higher than if they take it after college. Studies show that GMAT takers aged 20-21 have the highest average test scores, as the content is still fresh, and 31% of law school admissions officers said that in their experience, students who take the LSAT while still in college perform better than those who don’t.

Your LSAT score is the most important factor in your application. In Kaplan’s annual survey of law school admis-sions officers, 70% of respondents stated that the LSAT score is the most important factor in getting into law school. That means the score you get on a single test is more important than the GPA you get after 4 years of undergraduate study.

44% of business school admissions officers say a low GMAT score is an application killer. In Kaplan’s annual survey of business school admissions officers, a low GMAT score was cited most often as the biggest application killer, followed by a low undergraduate GPA (cited by 27% of respondents) and lack of relevant work experience (cited by 10% of respondents).

Small gains on the LSAT can translate into massive “leapfrogging” of other test-takers. The difference between a 50th percentile score (151 out of 180) and an 80th percentile score (159) is 14 additional correct answers. Since about 140,000 LSATs are administered each year, this means 3 or 4 more correct answers per section puts you ahead of about 42,000 test takers.

Research shows that every 10 point increase in your GMAT score can mean another $5K in your starting sal-ary after business school. Higher scores help you gain acceptance into more competitive, higher-ranked MBA pro-grams, which in turn brings more job opportunities and higher salaries. Preparation efforts now will pay off in the future.

Nearly a quarter of the top 260 MBA programs in the U.S. will accept a GRE score in lieu of a GMAT score. In an effort to attract non-traditional students, top MBA programs including Harvard, Stanford, UPenn’s Wharton, NYU’s Stern, UVa’s Darden and others have recently begun accepting GRE scores. But while 24% of the top MBA programs now accept the GRE, of the remaining GMAT-only schools, only 4% say they are currently considering this option.

High test scores can result in tuition discounts. Test scores are a key component in being identified by schools as a strong applicant -- and schools actively court strong applicants through the use of merit-based financial aid, grants and scholarships. So not only can your score get you into the program of your choice, it can also reduce the costs of that pro-gram. Kaplan Test Prep and Admissions (www.kaptest.com), a division of Kaplan, Inc., is a premier provider of educational and

career services for individuals, schools and businesses. Established in 1938, Kaplan is the world leader in the test prep in-

dustry. With a comprehensive menu of online offerings and a complete array of books, Kaplan offers preparation for more

than 90 standardized tests, including entrance exams for secondary school, college and graduate school, as well as Eng-

lish language and professional licensing exams. Kaplan also provides private tutoring and college and graduate admis-

sions consulting services.

THINGS YOU MAY NOT KNOW ABOUT GRADUATE ADMISSIONS TESTS

7

Bruin Business Review 13

Sports management is one of the world’s biggest and most lucrative industries with a net worth of $200 billion. Avid sport fans who long to be in the arena but can’t drive a golf ball like Tiger Woods or dunk a basketball like LeBron James can pursue a career in sports management. This field is an intensely com-petitive industry, with a very limited number of jobs openings and, usually, a hard climb from the bottom of the sports management ladder. So how do you get become the brains behind the brawns and what are the types of careers involved in sports management?

“Sports manage-

ment is one of the

world’s biggest

and most lucra-

tive industries” Sports management comprises a diversity of careers; depending on the area of the sports industry, the level of management, and the type of organization. Options in sports management range from financial operations of a sports team, representing an athlete, and media relations to the sales of sporting goods. Here are some common jobs in sports management:

Sports Information

Director

Acts as public relations liaison between athletic teams and the media.

Create press releases, organize press conferences for the athletes/coaches, and manage public relations for the team.

Works to ensure that organization is portrayed in a positive light.

Sports Medicine

Professional

Integrates physical and psychological issues concerning sports and wellness.

Studies athletic performance and coaching.

Sports Marketing Specialist

Coordinates activities at sporting events and charity events.

Helps an organization increase ticket sales or raise aware-ness of a cause.

Works with sponsors to promote products at sporting events.

Brains Behind the Brawn:

Sports

Management By: Christine Liu

Staff Writer

Sports Agent

Represent athletes, negotiate contracts or product endorse-ment deals for their clients.

Constantly networking to find work for their clients.

The competitiveness of the work, combined with the need for managerial, financial and legal expertise, many agents obtain MBA degrees or graduate from law school.

Usually work on weekends to network with sponsors at sporting events and recruit new clients.

Bruin Business Review 14

How do you break into sports

management?

Academic Degrees

Many people get a degree in sports management, law, or business. Re-member that a degree, even a mas-ters degree in sports management, does little to help someone land a job in the sports industry. Instead, it more about who you know.

Location, Location,

Location

Being in a certain region strong in the sports industry (Boston, Los Angeles, New York, etc.) or being in a school with Division I teams is ideal in getting a great internship or job. For example, pursuing a graduate degree in sports management in Indianapolis provides access to the Pacers, Colts, USA swim-ming and gymnastics.

Networking and Internships

If you have a family member working with a sports team now, you are very lucky because everyone else basically needs to network their behind off. The high competition for sports management jobs means that networking and in-ternship experience is crucial. Jobs are limited, and turnover is small, so networking should be number one priority when considering a job in this industry. To check out legitimate internship programs on the web, see sites like the Na-tional Collegiate Athletic Association (ncc.org) or inquire at your college athletic department.

Nearby sports management companies in

Los Angeles include:

Sports Management Services Top - Life Sports Management Fegan Sports Management - Pacific Sports Management

Excel Sports Management - West Coast Sports Management Diamond Stars Sports Management - Wasserman Media Group

If you would like to pursue a graduate degree in sports management, visit this website to see the universities and the type of degree they offer:

http://www.sportslinkscentral.com/Sports_Education/grad.htm Keep in mind that a sports management degree is not necessary to work in the industry. You are better off pursuing a degree in business or law as long as you continue to stay involved in sports management through internships and net-working. Better yet, find an MBA program where you can choose your focus to be sports management or a dual pro-gram where you obtain an MBA and masters in sports administration.

“Remember that a degree, even a masters

degree in sports management, does little

to help someone land a job in the sports in-

dustry. Instead, it is more about who you

know. “

Bruin Business Review 15

FIRM PROFILE: WASSERMAN MEDIA GROUP

BY ERIC PARK STAFF WRITER

Pau Gasol, Chase Utley, and Landon Donovan are three of the most notable athletes in basketball, baseball, and soccer. Can-dace Parker, Gina Carano, and Misty May Treanor are three of the most renowned female athletes in basketball, mixed mar-tial arts, and volleyball. All of these individuals are superstar performers in their respective sports and are also clients of the sports talent management agency, Wasserman Media Group. Wasserman Media Group was founded in 1998 under Casey Wasserman, an alumnus of UCLA and current board member of UCLA’s School of Public Affairs. The Wasserman Media Group consists of three departments; management, sales, and con-sulting. These departments all work to manage careers of ath-letes, sell and market advertising space for athletic teams, and provide consulting services to various clients in the business of professional sports.

WMG DIVISION OF MANAGEMENT The management division deals with managing and advising professional athletes. An agent for an athlete serves as the main leader of a client’s management team. An agent’s main duties include managing public relations of clients and main-taining their public image while also securing lucrative endorse-ments and contracts. Agents and their clients usually have close relationships, as they must communicate frequently. In exchange for these services, an agent will receive a percentage of the client’s contracts. Commission rate for agents can vary but have traditionally been in the area of 10%. The Wasserman Media Group boasts hundreds of professional athletes in sports ranging from basketball and baseball to skateboarding and rugby. Many of their clients are top performers in their sports and have won numerous individual and team accolades. The most recent client to do so was Hideki Matsui of the New York Yankees who garnered the World Series Most Valuable Player award in baseball.

WMG DIVISION OF SALES The WMG sales department works with major clients such as professional sports teams and leagues, stadium ownership groups, as well as major consumer brands. The WMG sales de-partment will work with teams to figure out what advertising spaces and potential revenue streams are available and will then proceed to contact major corporations in terms of secur-ing sponsorship and advertisement revenue. WMG is also widely acknowledged as the leader in the field of naming rights. Naming rights is the business of teams selling naming rights to a stadium to corporations. For example, the stadium of the Los Angeles Lakers and Los Angeles Clippers is known as the Staples Center as the naming rights of that stadium belong to the office supply retailer, Staples. On WMG’s website, it is reported that their firm has generated over $2 billion in revenue for clients in areas of naming rights, sponsorships, and entitlements busi-ness. During July of 2009, the Wasserman Media Group played a major role in brokering a sponsorship deal between the elec-tronics retailer, RadioShack and cyclist, Lance Armstrong. The deal includes primary sponsorship of Armstrong’s cycling team for 4 years as well as advertising. One of the firm’s current major projects is obtaining corporate sponsors for naming rights and advertising in the Meadowlands Stadium that is set to open in 2010. This stadium had a con-struction cost of $1.3 billion and will serve host to the NFL’s New York Giants and New York Jets as well as other events.

WMG DIVISION OF CONSULTING The consulting division of WMG works with major corporations to aid in marketing strategies such as finding target consumer groups, and creating advertisements geared towards those specific groups. WMG also works to form strategic alliances between corporations and other parties. This kind of relation-ship could involve creating cross promotional advertising and collaborating on products between groups. They work to nego-tiate television contracts and rights, and to manage the devel-opment of assets and investments for various sports and enter-tainment companies as well. WMG’s consulting division has had several case studies with companies such as T-Mobile, NASCAR and Wachovia. These case studies involve high levels of analysis, research, and problem solving to arrive at the best and most beneficial solution for a client.

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entertainment companies as well. WMG’s consulting division has had several case studies with companies such as T-Mobile, NASCAR and Wachovia. These case studies involve high levels of analysis, research, and problem solving to arrive at the best and most beneficial solution for a client. WMG consulting was hired by NASCAR in 2005 to assist in placement of destination of a NASCAR Hall of Fame. NASCAR had proposals from five different cities: Atlanta, Charlotte, Day-tona Beach, Kansas City and Richmond. The firm was responsible for analyzing key aspects of each pro-posal including funding, operations, market and demographic analysis, as well as creating future projections for attendance and revenue. After doing so, the firm recommended NASCAR to go with Charlotte for the site of its Hall of Fame and secured a financially lucrative solution for NASCAR. The $156.5 million NASCAR Hall of Fame facility will be funded through bonds, city taxes, state grants, and private sponsorships. Under the terms of the contract, NASCAR will not hold any financial responsibil-ity in the operations and constructions of the Hall Of Fame but will receive royalties in the use of its trademark.

NOTABLE CLIENTS OF WMG

Basketball Pau Gasol Joe Johnson Brandon Roy

Derrick Rose

Russell Westbrook

Baseball Chase Utley Hanley Ra-mirez

Carlos Lee Hideki Ma-tsui

Francisco Rodriguez

Skate-boarding

Bob Burn-quist

Paul Rodri-guez

Ryan Sheckler

Terry Ken-nedy

Rob Lo-rifice

BMX Dave Mirra Ryan Ny-quist

Steve McCann

Mike Day Jamie Best-wick

CONCLUSION

The Wasserman Media Group is an industry leader in the thriving field of sports business. The firm’s strength in talent management parallels traditional sports agencies due to their elite clientele. However, this firm has ex-panded its services to become an emerging powerhouse

in both professional sports and corporate fields.

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There are many opportunities available for aspiring sports managers who would like to take their career’s to an in-ternational level. The MLB, NBA, and NHL have franchises in Canada requiring managers, agents, and event coordi-nators. For those looking to expand their horizons beyond the continent, there are many international leagues. Some well known international leagues are the Interna-tional Basketball League, the International Baseball Fed-eration, and of course the Fédération Internationale de Football Association.

“There are many opportunities available for aspiring sports managers who would like to take their ca-

reer’s to an international level.” An international league’s organization is very similar to a national league but with a few key differences. For exam-ple, marketing teams for international leagues have to contend with cultures of all member nations and attempt to appeal each nation individually. While American leagues advertise their games in foreign media markets, an international league must market the native franchises to each nation, develop and maintain a following for the team, advertise the cups, bowls, and finals to the entire world. Furthermore, legal departments have to deal with exhausting tasks of sorting out the different labor laws, anti trust laws, and corporate laws for all the different nations that hold franchises. One of the reasons American national leagues do not begin franchises outside of the continent where there is demand is to avoid getting into legal battle with the reigning national sports league for encroaching on their territory. Event coordinators must

deal with police and laws of many different nations and cities. Arenas in different nations may have different se-curity rules or safety standards, forcing the coordinator to radically change the organization and management of a game for each country. Human resources face the daunt-ing prospect of moving player internationals, as players are now moving from team to team across countries therefore forcing the franchise to be sure that the new foreign teammate can speak and understand the lan-guage and culture at least well enough to play the game. This problem is not unique to international leagues though. American leagues often recruit foreign players from different national leagues for competitions. The fi-nancial department must be competent enough to under-stand tax codes of each individual country and have an ability to understand their own financial books well enough to discern which expenses/revenues are coming from which nation rendering it very difficult by frequent travel of the teams and interaction with the venue indus-tries of many nations. If professional international leagues are not appealing, there is always the option of working for the most recog-nized sporting event in the world, the Olympics. The United States Olympic Committee is in charge of selecting athletes for the games, marketing the Olympics to Ameri-cans, selecting which city to bid to the International Olympic Committee, and all other planning that the US needs to be ready for the Olympics. The USOC only em-ploys 375 people nationwide, but they do give out intern-ships to college students.

INTERNATIONAL SPORTS Robert Chang

Staff Writer