Get yourself an MBA from one of the best business schools in the world, and you’ll figure out in no time at all that managing money and risk are two sides of the same coin. Working for a betting company will allow you to do both, and in the process you’ll develop your analytical and quantitative skills as well as learn a thing or two about risk management.
Here are some of the key questions you need to ask yourself before accepting a job at a betting company.
Will This Be A Step Up For My Career?
Let’s be honest, no one likes dealing with uncertainty, and that’s what you’ll experience every day as a risk manager at a betting company. You’ll quickly learn that the economy is a fickle place, and that one bad apple can spoil the whole barrel. Being on the front lines of economic forecasting proves to be highly lucrative, as many of the big names in finance started out their careers this way.
The pay isn’t bad, either. According to Payscale.com, the median annual salary for a risk manager is around $122,000, with top performers making up to $159,000 per year. Keep in mind that this is only the median, so your potential earnings will vary widely depending on how many years of experience you’ve got and which industries/ sectors you’re in. Additionally, you’ll earn a higher salary if you’re in charge of managing a big portfolio of stocks, bonds, or derivatives, as these are generally higher-yielding positions.
Does The Entertainment Industry Benefit From My Skills?
Not surprisingly, the entertainment industry is one of the most lucrative industries in which to work as a risk manager. Just look at the numbers: according to the U.S. Bureau of Labor Statistics, there are currently around 340,000 people working in the leisure and entertainment industries. That’s a lot of uncertainty, and a great opportunity to learn how to manage it effectively and profitably. Some of the biggest names in entertainment—from Jeff Bezos to Joe Boxer—started out in the trenches, learning the ropes from the ground up.
Risk management in the entertainment industry is a key responsibility that comes with the job. Many big-name companies have a hand in the creation of both films and TV shows, and since they have so much invested in the creative process, they must ensure that the projects they back generate sufficient profits. This means that you’ll have to keep an eye on marketing analytics, box office performance, and critical reviews to gauge the effectiveness of your efforts. The industry is highly competitive, and being able to anticipate trends and analyze the results of past decisions is a great way to stand out from the crowd. Imagine if you could devise a formula that accurately predicted the box office performance on each new release? That’s what you’ll be doing at a betting company, only instead of a film industry, you’ll be analyzing the earnings potential of a TV show or sports team. Your analysis will help determine which projects get the company’s backing and which ones get sidelined for further consideration.
Am I A Brighter Person In A Scared-Simba-In-The-Shark-Tank Kind Of Way?
In the world of economics, the term ‘animal spirits’ refers to our tendency to be more motivated by prospects of profit than by reality of loss. This ‘shrewdness’ is what gets us through life, as we’re constantly faced with opportunities to make money that rival our thirst for adventure. As an applied economist, you’ll get to work with actual animals (well, mostly swans) in order to understand their economic behavior and make savvy business decisions. This can be a great way to learn, but with significant responsibility: each project you work on will have a lasting impact on the animals’ well-being, and you must ensure that their needs are met while also ensuring that the business can continue to operate.
Does This Position Provide A Step Up For My Career?
If you’re looking for a way to enter the field with a prestigious degree and good job prospects, then working for a betting company might just be what you’re looking for. Earning decent wages and gaining valuable experience are certainly attractive propositions. In one of the most competitive industries, finding a job that sets you apart from the rest can be quite the feat, but with the right mixture of hard work and talent, anyone can achieve this.