Categories: OLD Media Moves

What business journalists can get out of an MBA

Louise Story of The New York Times writes for a Columbia University website, Covering Business, about how an MBA can help a business journalist.

Story writes, “Accounting, Statistics, Excel – if those sound like dirty words to you, you might consider forcing yourself to learn them.  The basic concepts of accounting – flows versus stocks, for instance – come up not only for business reporters, but for political reporters looking at budgets and foreign reporters examining international aid. Or take “a dollar today is worth more than a dollar tomorrow.” I can’t tell you how many times I’ve heard people botch that one, but it is a basic financial rule known as the time value of money and it’s critical for reporters sizing up a company’s worth. As for Excel, if you gain confidence with it, as B-school forces you to, then functions like pivot tables and filters will become your secret weapon in journalism, helping you spot stories that other people miss.

“In 2009, I wondered if bank pay would be going up or down after the financial crisis. I couldn’t look at total compensation at the banks because some had larger workforces than others.  I had to look at compensation per employee. So into the bank financial statements I went. I designed a basic Excel spreadsheet and hours later, the result was in: bank pay was going up. Ditto on stock market volatility. Lots of traders were saying 2011 was more volatile, but they were speaking anecdotally. So I plugged the year’s stock closing pricing data into Excel, and soon, I had an answer. Last year, I wondered how much states give companies in tax credits and other subsidies. Once again, a little numeric literacy came in handy. In all these cases, I was able to give readers answers that didn’t exist without my analyses.”

Read more here.

Chris Roush

Chris Roush was the dean of the School of Communications at Quinnipiac University in Hamden, Connecticut. He was previously Walter E. Hussman Sr. Distinguished Professor in business journalism at UNC-Chapel Hill. He is a former business journalist for Bloomberg News, Businessweek, The Atlanta Journal-Constitution, The Tampa Tribune and the Sarasota Herald-Tribune. He is the author of the leading business reporting textbook "Show me the Money: Writing Business and Economics Stories for Mass Communication" and "Thinking Things Over," a biography of former Wall Street Journal editor Vermont Royster.

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