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.
The Fund for American Studies presented James Bennet of The Economist with the Kenneth Y. Tomlinson Award…
The Wall Street Journal is experimenting with AI-generated article summaries that appear at the top…
Zach Cohen is joining Bloomberg Tax to cover the fiscal cliff and tax issues on…
Larry Avila has been named interim editor for Automotive Dive, an Industry Dive publication. He…
Reuters is seeking an experienced editor to take part in our fact-checking project and support the…
CNBC Make It reporter Ashton Jackson writes about ways to make financial news more accessible to consumers.…
View Comments