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These confusing times call for a new batch of financial journalists. But Cheryl Strauss Einhorn, adjunct professor at Columbia University’s Journalism School, says she hasn’t seen much interest in the subject. In fact, this year only four students enrolled in her class.
I'm curious if your staff was able to do much research into the popularity of business journalism programs at other schools, such as the University of Missouri and Medill. I studied in Medill's graduate program in the 2004-2005 school year, and back then the Economics Reporting section was always near the top in enrollment and popularity. I was more like Columbia students, I suppose, because I avoided the Economics classes, but many of my classmates flocked to the Econ courses, not so much because they saw financial reporting as a possible source of computer-assisted investigative work, but because they saw business writing as one of the few expanding sub-fields within journalism, and they thought the course would help them land jobs after graduation. Perhaps it says something about the different kinds of students who attend each school. Although both are prestigious, the Columbia students may envision themselves as the future columnists and public intellectuals of the world, while the Medill graduates are going to become the metro editors of mid-size papers across the country.
Having worked in financial news for five years I can say that the vast majority of financial news journalists lack the fundamental analytical skills to actually do their jobs.
You see this in the coverage in our leading newspapers, which focus far too much on what people say rather than the facts as reported in their regulatory filings. Personally, I would hire an accounting major with reasonable writing skills over a journalism major with subpar analytic skills.
Truth be told, the best business journalism is done by non-journalists. When I want thoughtful analysis I read Tanta, Yves, Barry and of course Nouriel. When I want to know what was said at the presser or put in the release I look in the NYT and when I want comic relief I turn on CNBC.
I suspect it's all about the $$$. Most young people interested in business have some interest in personal wealth as well. Journalism, even business journalism, offers few opportunities for making a decent living, so when the economy was strong there was little incentive for bright young business-minded folks to seek out business journalism. But I would bet (were I the betting sort!) that the interest in business journalism at Columbia will increase exponentially even in the next semester, now that lots of former investment bankers may want some educational retooling.
If the market can't seem to get a fair shake, as evidenced by the top story this week, what could convince them that a business reporting class would be of value.
The major papers will not even look into the Bush administrations reform efforts stymied by Congress. If such fundamental reporting goes untold, what makes students think that breaking stories from the business section will ever make it to the watergate level of influence on media, society and democracy.
you don't want to get your money advice from some poor sap pulling down 5 figures, gimme a break.
ps if those jobs paid enough to live middle class i'd go back to journalism in a heartbeat rather than posting on internet blogs. it would be great for everybody since i'm always right.
(i will say that listening these past few days to npr and other media illustrates which familiar voices are actually trying to learn and tell the story and which are just sort of mouthing things they don't understand and waiting for the whole thing to "pass" onto the next story, nary the wiser. that's when i wonder if they are getting paid at all.
Did anyone else hear the news break anchor on CBS, during the East Coast broadcast of 60 Minutes' Obama/McCainathon last Sunday; refer to Paulson as "Treachery Secretary", as I did?
Haven't we been holding our breaths, awaiting this disaster since Katrina at least? If this government couldn't handle a natural disaster how could they handle one of their own making? Now we have both simultaneously.
Shouldn't the Dot Com Bubble and the Enron fiasco have shown that critical business reporting and accounting skills would begin to be worth a premium?
Young journalists can find journalism jobs, paid internships, fellowships and more at http://CubReporters.org
Interesting post! you mentioned adWords by google that made them make a lot of money.
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