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Tag: Dr. Boyce Watkins

  • Company Makes Money from Deadly Urban Trend: "Sipping Syrup"

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    Sippin Syrup Drank soft drink

    You’ve probably heard the phrase “sippin syrup,” used in reference to the act of mixing cough syrup, codeine, and soda together to create a relaxed feeling within the person who consumes the beverage. The “drank” has become quite popular, particularly in the south, as rappers have done their jobs of giving free promotion to an illegal product that has managed to make teenagers even less productive than many of them already are.

    It was only a matter of time before corporate America stepped in to make money off the trend. Meet the new drink on store shelves: Sippin Syrup. The drink doesn’t use any illegal products, but produces the same “lean” effect that many young people seek from the cough syrup product on the street. Harmless enough, right? Not so fast.

    Officers in the Houston area are concerned that the product sold on store shelves is nothing more than a gateway to an incredibly dangerous and addictive drug. The snazzy ad campaign fully leverages the power of the brand of “purple stuff” being sold on the streets already. Teenagers who can’t get the real stuff would likely be enticed by the substitute until the door is open for the actual product.

    I spoke with Dr. Elaina George, a prominent physician out of Atlanta, about the dangers of seemingly harmless purple “drank” used by many teenagers across the country after watching Lil Wayne videos (and those of other artists who promote the cough syrup mixture being sold illegally). Here is what she had to say about the symptoms:

    “Short-term symptoms include Impaired judgment, nausea, loss of coordination, headache, vomiting, loss of consciousness, numbness of fingers and toes, abdominal pain, irregular heartbeat, aches, seizures, panic attacks, psychosis, euphoria, cold flashes, dizziness, and diarrhea.”

    Oh, I forgot to mention, the symptoms mentioned above are assuming your child doesn’t become addicted. Here are the long-term symptoms in the advent of addiction:

    “Restlessness, insomnia, high-blood pressure, coma, or even death.”

    I understand capitalist models and can almost appreciate the logic that leads companies to find even more ways to exploit ridiculous behavior in the black community. We are an intelligent and enlightened people, even if everyone can’t see the light. But there is also the question regarding whether or not there should be regulations in place to stop companies from so blatantly utilizing an unhealthy trend to make a profit. What if my company went to Montana, where Crystal Meth is a serious problem and started to sell a product called “Meth Lite”? How fast would the Montana state legislature put me out of business?

    When it comes to “Sippin Syrup,” “drinking drank” and getting the “purple stuff,” the bottom line is this: Companies should not be allowed to accelerate teen drug abuse and rappers should be conscientious enough to stop giving this drug free promotion. Teenagers are sheep who follow the examples which already exist in their culture. If we are making the bed for them, then who do we blame when they choose to sleep in it? The new drink in stores called “Sippin Syrup” needs to be taken off the market NOW.

    Dr. Boyce Watkins is a Finance Professor at Syracuse University, a leading black speaker, and author of the forthcoming book, “Black American Money.” To have Dr. Boyce commentary delivered to your email, please click here.

     

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  • Don’t Let Your Spouse Control All of Your Finances

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    Financial News Blast for the week of September 26, 2009 – Click on the link for the title to read the article on the given topic:

    1) Don’t let your spouse control all of the family finances: This is a great article on how the entire family should be involved when making financial decisions for the household. When I wrote my book, “Financial Lovemaking 101,” I noticed that far too many American families are allowing their entire financial future to be controlled by one partner. You should be aware of what’s going on with your money, even if you’re not the one making all the decisions.

    2) Harvard Study: A Lack of Health Insurance Causes 45,000 Deaths Each Year: The healthcare reform debate has literally become a matter of life and death. We’ve got to find a way to get this done.3) How to get a home loan with bad credit: Many Americans suffer through credit problems. Where you’ve been doesn’t matter nearly as much as where you’re going. Getting a home loan can open the door to wealth and also create opportunities for you to rebuild your credit. Take a look at this article to find out how.

    4) The most lucrative college degrees: Going to college doesn’t guarantee a strong financial future. It’s going to college and choosing the right major that makes all the difference. Make sure you pick the right major for you and your children.

    5) Financial illiteracy is an epidemic in the United States: Banks and corporations are certainly predatory in their behavior. But you don’t have to allow yourself to be their prey. You must find a way to obtain basic financial literacy, for a lack of financial literacy was one of the primary causes of the 2008 economic downturn. If this epidemic is not managed, we are going to have serious problems for many decades to come.

    Dr. Boyce Watkins is a Finance Professor at Syracuse University, a leading African American speaker and author of the forthcoming book, “Black American Money.” To have Dr. Boyce commentary delivered to your email, please click here.

     

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  • Money Blast: What You Should Know about Credit Scores

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    Financial News You need to know:

    What you need to know about credit scores: Get educated on what it takes to have the score you need. Your credit score can affect whether you get the job you want, as well as the cost of your insurance. Additionally, the formulas used by companies to calculate credit worthiness are changing as we speak.
    What social security underfunding means for your retirement: Social security is financially sick. African Americans are going to be hit the hardest, since we have the least wealth to prepare for economic challenges. Find out what all this means for your retirement, as the retirement landscape in America is going to change dramatically in the future.

    The federal government may continue to help first time home buyers: Many people don’t know about the $8,000 tax credit the Obama Administration is giving to first-time home buyers. Well, the government is considering extending the credit, which can add to your personal bottom line.Students are borrowing more money than ever to attend college: Along with the cost of healthcare, Americans are finding it more and more difficult to pay for their children to go to college. In fact, most young people under the age of 40 are going to die in debt. This does not have to be the case, since there are less expensive ways to pay for school if you seek out alternatives.

    Factors that may increase your chances of personal bankruptcy: Bankruptcies are skyrocketing due to the recession. There are things you can do to avoid bankruptcy, like negotiating with creditors or keeping a budget. Also, things like carefully noting the quality of your health insurance can make a difference as well.

    Dr. Boyce Watkins is a Finance Professor at Syracuse University, a prominent black speaker and author of the forthcoming book, “Black American Money.” To have Dr. Boyce commentary delivered to your email, please click here.

     

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  • Dr. Boyce Money: Don’t Throw Tavis Smiley Under the Wells Fargo Bus

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    When I read about the predatory lending allegations against Tavis Smiley and Wells Fargo, I wasn’t surprised. Not because I feel that Tavis is some kind of crook, but because economic downturns are usually when everyone’s dirty laundry gets aired out. The high flying 2000s were a decade of extravagance, overspending, easy money and troubled relationships. The party was bound to end. Smiley’s party has ended with Wells Fargo, as the company has been accused of using Tavis Smiley and financial expert Kelvin Boston to convince African Americans to sign on to loans that turned out to be predatory. Neither Boston nor Smiley is willing to disclose the amount they were paid for the service, but I’m sure it wasn’t chump change.

    I’ve been open and honest in my critiques of Tavis Smiley in the past, but I give credit where it’s due. I’ve always felt that Tavis Smiley is a man who works out of a sincere respect and appreciation for the black community. He is not out to hoodwink, swindle or hurt us, at least not deliberately. At worst, Smiley is guilty of being caught in a situation that he may not have fully understood.

    Although I agree with the black community’s decision to hold Tavis Smiley accountable for his actions, I want us to be cautious of going overboard in our judgments. Here are 5 things I want to say about Tavis Smiley:

    1) Don’t throw Tavis under the bus. African Americans can be tough on our public figures. After Smiley’s repeated calls for accountability against President Obama, many failed to appreciate the value of scrutinizing our elected officials. While Tavis’ close relationship with Hillary Clinton undermined the credibility of his challenges to Obama, the truth is that accountability is very important when dealing with any politician. One must respect Tavis for having the willingness to say things that are unpopular, which even Obama himself doesn’t always have the courage to do.

    2) Beware of corporate sponsors bearing gifts. One of the greatest barriers to social progress for African Americans has been our inability to properly assess those who sponsor our activities. Any corporation that comes along with a signed check can usually find a place at our table. Would you want your teenage daughter taking money from any boy who offered it to her? Probably not, because you know that the the boy might be expecting “repayment” at the end of the night. The same is true for corporate sponsors, who are paying you to present the kind of image they want the public to see.

    3) The revolution will NOT be brought to you by Walmart. Rarely, if ever, can true black activism be achieved via funding provided by companies run by the descendants of our historical oppressors. This is due to the inherent conflict of interest between capitalist entities and the plight of the poor. African Americans are disproportionately poor and working class. Therefore, unfettered capitalism is designed to destroy us (although compassionate capitalism can fuel economic growth). So, while one can certainly understand why Smiley would be happy to take corporate money for his State of the Black Union event every year, the truth of the matter is that the honest activism of such a function can only go so far.

    4) A critical line must be drawn between financing and influence. There’s a reason that the New York times doesn’t let it’s advertisers decide which stories are going to appear on the front page. This is because the natural power that comes with financial support must be tempered by a commitment to conscientious objectives. If Wells Fargo needs to be called out for its predatory lending practices, that is not going to happen with the Wells Fargo logo placed behind the speaker’s head. There should be independent oversight of all funding sources for The State of the Black Union, The State of Black America, as well as events held by the NAACP and Urban League every year. Influence is bought behind the scenes all the time, and good black leadership should be as transparent as possible.

    5) We should keep supporting Tavis. Tavis Smiley’s annual event, The State of the Black Union, is one of the most celebrated in the black community. With a renewed commitment to conscientious corporate sponsorship, The State of the Black Union can regain its status as a respected and appreciated forum for black education. But in order for this to happen, we must make sure we know where the money is coming from, where it is going and what strings are attached. Without properly vetting the sources of your financial support, you are setting yourself up for corruption.

    Dr. Boyce Watkins is a Finance Professor at Syracuse University, a leading African American speaker and author of the forthcoming book, “Black American Money.” To have Dr. Boyce commentary delivered to your email, please click here.

     

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  • Yale Student Murder Symptomatic of Growing Workplace Violence

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    The murder of Yale University Lab Technician Annie Le was sad, particularly since her body was found on what was supposed to be her wedding day. The accused killer in this incident is Raymond Clark III, a 24-year old co-worker. This tragic incident is not only problematic due to the fact that a young woman lost her life. It is also a sad reminder of the dramatic rise in workplace violence throughout the United States.There has been an 18% increase in workplace violence in 2009, relative to last year. Also, according to Corporate Counseling Associates, an HR consulting firm, there has been a 28% increase in workplace suicides. A poor economy certainly plays a role in the frequency of workplace violence, as tough times lead to tough decisions by firm managers who have to slice jobs in order to keep the company afloat.

    African Americans are impacted even more by the threat of workplace violence, since our unemployment rate tends to be much higher than that of white Americans. Also, other forms of related violence, such as that which occurs in the home, are affected when the economy goes south. In other words, a tough economy leads to problems that go far beyond money.

    The case of Annie Le brings some questions to light when one thinks about violence in the workplace. These questions should be asked by employees and employers, since violence is not only a threat to employee safety, it is also a potential door to major lawsuits filed by those affected:

    1) Are there background checks being done on employees? If an employee has committed a violent crime in the past, this may unfortunately be a reason not to bring him/her into the workplace. At the very least, precautions should be taken to ensure that the other employees are protected.

    2) Are there proper channels for reporting violence when it occurs? In the student shooting rampage at Virginia Tech University, some students died allegedly because the university did not have a proper warning system.

    3) Is there a way to provide counseling to workers so they can handle layoffs or workplace stress in a more productive manner? What about dispute resolution between employees? If the workplace has become uncomfortable, employees should be able to report the discomfort to management so that problems are solved before they get out of hand.

    4) Are there ways to spot situations in which an employee is at risk of being violent in the workplace?     Clark, the tech who is accused of killing Ms. Le, was known to be a “control freak” and allegedly felt that the animal cages in the lab were his personal territory. There are many cases in which workplace violence is committed by individuals who’ve shown a propensity for aggressive behavior.

    5) Are employees informed on the company’s existing policies on workplace violence? Employees should know what lines are not acceptable to cross in the workplace. Also, according to a 2005 Survey by the US Department of Labor, 70% of all companies do not have a policy in place to prevent workplace violence.

    Annie Le’s tragic death may be an opportunity to save lives. By grabbing the lessons presented from her case, we can make workplaces across America safe for everyone. Let’s hope that Annie did not die in vain.


    Dr. Boyce Watkins is a Finance Professor at Syracuse University. To have Dr. Boyce commentary delivered to your email box, please click here.

     

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  • Howard University Student Controversy Over Financial Aid Problems

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    Howard University has a problem. Apparently, the school’s students have taken lessons on freedom of speech to heart and actually believe they have a voice in running the campus. That problem is magnified by the fact that they are finally speaking up on issues of mismanagement and incompetence that plague many universities around the nation, particularly Historically Black Colleges and Universities.

    We all know that HBCUs can be amazing places to get an education. But we also know that many HBCUs are as slow as molasses when it comes to adopting the necessary administrative adjustments to keep up with the demands of college students. We also know that many HBCUs are not even hiring very many black professors, particularly in business and the sciences (Howard University is one of them). Not having the funds to engage in sound administrative policy is almost understandable. But ignoring calls for appropriate change because it undermines your quest to maintain power….well, that just makes you a black version of the Bush Administration.

    Diddy has come out and supported the students at Howard, and I support them too. The students at Howard University and other campuses around the country must understand very clearly that POWER ONLY RESPECTS POWER. If you are not focused in your vision and committed to fighting for what is right, the world is going to continue to abuse, mislead , exploit and oppress you. People will always enjoy walking over you if you remain committed to lying down.

    In the 19th century, the British maintained control over Chinese citizens by keeping them full of opium and low on education and ambition. By keeping their eyes off the prize, British leadership was able to manipulate the citizenry in any way they chose. When the Chinese people began to take control of their own destinies, this caused the Opium Wars, which opened the door for China to become the superpower that it is today. Whether you are referring to the federal government, university officials, or a pimp on the street, most oppressors who have power do not give that power away willingly.

    Like the British government of the past, University administrations can be as typical as any other entity when it comes to maintaining control of students and their minds. Students don’t realize how much power they can actually have, and most of them don’t even care. As long as students remain focused on going to one party after another and staying fearful of standing up for their rights, campus officials hold all the cards. University administrators have another advantage in that students are only around for 4 – 6 years, so by the time they realize they have any power, they’ve already graduated.

    When I was a student leader at The University of Kentucky (which in my opinion, is to this day, one of the most racist and segregated academic plantations in America), I remember periodically bumping into the university president. He would usually ask me the same question, “When do you graduate again?” When I became a faculty member years later, I figured out that the reason the president was asking about my graduation date was because he knew that when I left the campus, the student protests would leave with me. He was right; that’s exactly what happened. But from that experience, I learned that if you step out and fight for what is right, you might actually have a chance to win and make positive change for the good. Universities hate you for it today, but they give you an award for your efforts 30 years later. I encourage students at Howard University and other campuses across America to make sacrifices for their children and grandchildren, who will set foot on the same ground in just a few years. Were it not for students raising a little hell 30 years ago, you would not be where you are today.

    The students at Howard University have a legitimate grievance on their financial aid problems. It is as legitimate as the grievance of Kentucky State University students, many of whom are still living in hotels this late into the semester. Their grievance is as legitimate as that of the students at Morehouse College, who still don’t understand why a wealthy student can shoot a classmate and be allowed back into classes. Howard students should have their questions answered and be presented with evidence of systematic change in campus procedures.

    When it comes to bad leaadership, questions remain in the air, and they usually don’t get answered. Instead, the administration has the same formula: Just wait long enough and students will either grow weary, get distracted or leave the campus. Don’t be surprised if Howard University invites Lil Wayne on campus for a concert. Like the Chinese of 100 years ago, socio-political Opium always works to co ntrol the masses. Don’t let the leadership control you.

    Dr. Boyce Watkins is a Finance Professor at Syracuse University and author of “What if George Bush were a Black Man?” To have Dr. Boyce commentary delivered to your email, please click here.

     

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  • Black News in Black America

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    Big Black News from Dr. Boyce gives you a list of the biggest black news stories in the areas of money and education. Consider it to be our gift to you.

    President Obama declares National HBCU Week

    Student shot and Killed at Spelman College in Atlanta

    Chris Brown tries to rebuild his brand on Larry King Live

    Will Whitney Houston Ever Be the Same Again?

    No, Roxanne Shauntay DID NOT get a PhD

    Should Personal Finance Be Taught in School?

    University of Michigan Football Gets its Cover Blown on alleged Mistreatment of its athletes

    Nas, Kelis, Money and Craziness: How much money does Kelis Need to Live?

    President Obama Plans to Address Congress to Push his Healthcare Plan

    Dr. Boyce Watkins is a Finance Professor at Syracuse University. To have Dr. Boyce commentary delivered directly to your email, please click here.

     

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  • Dr. Boyce Talks Money and Sex on ABC News

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    I recently appeared on ABC News to talk about Financial Lovemaking, and the link between sex and money. I’ve discussed relationships and money several times on AOL in the past, but I think that I should quickly lay out some very interesting similarities that may not have crossed your mind. As I teach my Personal Finance Class at Syracuse University this semester, I am reminded that managing our money is linked to managing our love, which is critical to the ultimate goal of effectively managing our lives.

    1) Many people think about both sex and money every single day. Don’t lie, you know you enjoy thinking about sex, even if you aren’t getting any. But chances are, you also think about money, whether it’s figuring out how to get what you need or how to keep what you’ve got. Even most rappers spend all their time talking about either sex, money or how they use their money to get more sex. It’s actually a universal concept.

    2) Both sex and money can make you feel good. If I wrote you a check for a million dollars, you’d probably end up having a good day. If I offered you the sexiest person you could think of to do as you wish, you might have an even better day. Both sex and money have the effect of giving us a natural high that leads to human beings spending their lives obsessed with obtaining both commodities.

    3) Both sex and money can devastate you if you are irresponsible. Promiscuous sex can lead to a life of disease and drama. Promiscuous spending can lead to a life of financial turmoil. Both sex and money, being the powerful drugs that they are, should be managed with both responsibility and moderation. They are both meant to be enjoyed, but not meant to be abused.

    4) It’s scary to share either one of them with another party. Your body is valuable, so you don’t want to share it with the wrong person. Your money is valuable too, so the same logic applies. Sharing your financial or sex life with the wrong person can lead to years of regret. Emotional, physical and financial investments are all quite risky.

    5) Both sex and money require trust if you are engaged with another person. I’ve heard women talk about financial betrayal by their partners in the same context as emotional betrayal. If you trust someone with your money, you are trusting them with your life. The same is true when it comes to trusting them with your body.

    6) It’s no fun to share either your sex or your money with someone who doesn’t know what they’re doing. Sex is better with someone who knows how to do it right. Well, sharing your financial future with someone who knows what they’re doing can actually lead to dramatic improvements in your quality of life. So, when you consider how good a person looks or how great they make you feel, also consider how great they can make you feel in the long run by providing both financial and emotional security, which can effectively be the same thing.

    7) One is often used to obtain the other. On average, guys with more money get more sexual opportunities and those who give good sex could use it to get their bills paid if they wanted to (Come on, let’s be honest here – what’s the oldest profession in the world again?). There are biological reasons that men with greater access to resources tend to make better mating options for women. The rapper Ludacris noticed how he suddenly went from “ah-ight” to “handsome” when he started to make money. That’s to be expected.

    In the episode of ABC News below, we talk about these links between sex and money in more detail. Enjoy!

    Dr. Boyce Watkins is a Finance Professor at Syracuse University and author of “Financial Lovemaking 101: Merging Assets with Your Partner in Ways that Feel Good.” To have Dr. Boyce commentary delivered to your email, please click here.

     

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  • Is College a Good Investment During a Recession?

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    I was invited onto “Tell Me More with Michel Martin” to discuss college and whether or not it makes sense to invest in college during an economic downturn such as this one. I have written extensively on the value of going to college, since I argue that education plays a huge part in determining whether you end up being a true player in life or just end up getting played. Black college students must really note the significant impact of attending college, since people of color benefit the most when we get ourselves educated.

    Here are some thoughts regarding whether or not college is a good idea during a recession:

    1) You must decide if college is a necessity or a luxury item for you. If you are a wealthy kid who can rack up $80,000 in debt to major in Philosophy and Theatre, then God bless you. But just make sure you are aware that the major you choose plays a huge role in your ability to manage debt after graduation. This is not a slap at those who choose majors that don’t have a strong job market, it’s just a reminder to make sure you know what you’re stepping into. Personally, I majored in business, because college was not just my path toward educational enlightenment, it was my way to pay the bills when I got older.

    2) Figure out what you hope to get out of college. If you want to simply get a good education and are not worried about the job market very much, then you don’t need an expensive school to do that. Education is what you make of it. I’d rather be a student at a state university who studies 7 hours a day than to be a frat boy at Yale living at the bottom of a beer bottle. The student who studies is going to learn; the one who doesn’t study won’t learn a thing. College is what you make of it. But if your goal is to use the name of your campus to open doors for great job opportunities, then this might justify the cost of an expensive university.

    3) Parents, the debt is not all yours. You are getting ready for retirement, your children are young. Pretty soon, they will be earning more money than you. Does it make sense that you’ll spend your golden years paying student loans for an able-bodied adult? Perhaps it’s time for your children to learn how to take care of you? They will never learn to be financially independent if you don’t teach them. Allowing your child to manage some of his/her student loan debt doesn’t make you into a bad parent. You got them to age 18 in one piece, some would say that you’ve done enough.

    4) Grad school anyone? Some majors require additional education for you to be competitive in that particular market, some do not. Think through this carefully when deciding if you want to make the massive investment of going to graduate school. I believe that an MBA is usually worth the investment, while a masters in Anthropology may not always get you the job you’re seeking. But outcomes can vary depending on the major, and you should do your homework.

    5) Education gives you job security. One thing that many autoworkers learned during the recent economic downturn is that having a good job with little education makes you highly vulnerable to economic flucuations. African Americans were the hardest hit during the recession, and many of us lost our jobs when the auto industry tanked. Even if you earn a lot of money, you should never stop believing that additional education doesn’t have value for you. You don’t want your financial future to be in the hands of someone else.

    Follow BV on Money on Twitter!

    Dr. Boyce Watkins is a Finance Professor at Syracuse University and author of “Everything You Ever Wanted to Know about College.” To have Dr. Boyce Commentary delivered to your email, please click here.

     

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  • Black CEO says that the MBA is Worthless

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    I don’t have an MBA, and I’ve never wanted one. I earned several masters degrees and a PhD, but I never found the MBA to be a good investment when it came to actually understanding what I needed to do with my career. But unlike many of my friends, I wasn’t headed to Corporate America. Instead, I wanted to be a professor and entrepreneur, neither of which requires an MBA.

    My brother Lawrence is also getting an MBA from Cornell University, but he doesn’t want a job. Instead, he wants to utilize the network of the university to build his own business. I agree with this philosophy, since ownership is the key to building black wealth in America. Understanding business from all angles is critical to running a top notch organization.

    What is surprising, however, is that there are some captains of corporate America who are starting to question the value of an MBA when attempting to reach your goals. Mind you, this does not imply that the MBA cannot be an important piece of your long-term career plan, but it says that the MBA might not be enough.

    What is underemphasized by many who attempt to climb the corporate ladder is the necessity to learn the intangibles that come with corporate success. Fenorris Pearson, CEO of Global Consumer Innovation, Inc., argues that playing the game at the top of corporate America involves a set of skills that are not taught in a typical MBA program. Instead, Pearson believes that things like managing your peers and forging the right alliances can be critical to corporate success.

    In his new venture, called “The Corporate Climb,” Pearson lays out strategies he learned during his years as a Vice President of Global Consumer Innovation for Dell. He explains that having the credentials is only the beginning when it comes to managing life at the top. An MBA can open doors, but you must have quite a few additional skills to walk through the doors that have been opened.

    As someone who has taught MBA students for over a decade, I can also testify that the MBA should only be one piece of your long-term career building plan. This expensive piece of merchandise will only give you top value if you use it in the proper way. At the same time, I advise all of my business school students to get an MBA eventually, since you need all the advantages you can get. Based on my experience teaching MBA students, here are some quick thoughts on the value of the MBA.

    1) The MBA is important: Some kind of post-secondary education is highly recommended for most college students, especially those majoring in business. You shouldn’t just go to college: you should be at the top of your class and get as much education as you can. Mediocrity should not be on your agenda.

    2) You have to supplement the MBA with work experience: Just having the degree doesn’t mean that companies are going to come banging down your door. You have to do internships and find other valuable experience which will help you convince your employer that you can add to the bottom line. All the credentials in the world are not nearly as valuable to a company as a person who knows how to “make it rain” financially.

    3) The MBA is expensive: Many schools simply sell MBAs, meaning that if you pay a massive amount of tuition, you are probably going to get the degree. The average price of an MBA has spiraled to over $100,000 and now serves as a major money maker for most business schools. So, if you make this investment, make sure you are getting what you expect on the back end: more job opportunities and a salary high enough to pay off your student loans. If the investment pays off, then this can be a solid career move.

    4) Make sure your school helps you to find a job: The quality of the career placement center is incredibly important. If the school can’t place its graduates into high salary positions, then you may find yourself disgruntled.

    5) Don’t leave your fate in anyone else’s hands: The National Black MBA Association and other organizations hold networking conferences which can allow you to find opportunities for yourself. Do not be afraid to use these resources. You have to pound the pavement and create your own luck. Don’t let anyone take control of your future.

    6) Consider owning your own ship: Remember that the key to financial, social and psychological freedom is to own something. Black entrepreneurship is incredibly important to our community and your corporate experience can be a good foundation for you to own your own business. So, as you build your career in corporate America, don’t be afraid to create your own job via entrepreneurship. It might be the most rewarding decision you ever make.

    Dr. Boyce Watkins is a Finance Professor at Syracuse University and author of “Financial Lovemaking 101: Merging Assets with Your Partner in Ways that Feel Good.” To have Dr. Boyce commentary delivered to your email, please click here.

     

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