Many Students Now Laying Groundwork For Careers In Corporate America With High School Business Courses

Jet, Nov 23, 1998

Many students enrolled in business classes at high schools across the country today aren't just taking the same old typing and bookkeeping classes that were offered decades ago. Today they mean business-big business.

While some are preparing for jobs as secretaries and bookkeepers, others are laying the foundations for becoming tomorrow's corporate presidents and CEOs, according to a recent article in the Washington Post.

Today's high school business curriculums can often include college-level courses in computers, economics, accounting, and international finance.

In many cases, the courses are linked to local companies and combined with paid internships and other practical business experiences such as trips to the New York Stock Exchange, the Post explains.

One of the major forces behind this shift in high school business curriculum development is the Academy of Finance, a nationwide program involving nearly 11,000 students and 164 high schools.

According to the Washington Post, the academy operates as a "school-within-a-school." The high schools run their own academy programs, but pay a $5,000 fee that covers the cost of setting up the academy and development of special coursework, as well as providing teacher training and help in establishing a local business advisory board.

An important aspect of the Academy of Finance curriculum which students praise is the paid summer internship. Many of the board's members provide internships to the academy students, the newspaper reports.

Major companies contribute about $3 million annually to the Academy of Finance, which is run by the National Academy Foundation, a New York-based nonprofit organization.

Today, academies are found in 33 states and the District of Columbia.

The Academy of Finance began in 1982 at a Brooklyn, NY, high school. It was designed as a partnership between the school system and Wall Street firms seeking well-qualified clerical workers.

However, there was an unexpected outcome. "All the students went to college instead of going straight to work for them. It was what we call a successful failure," National Academy Foundation President John J. Ferrandino, told the Washington Post.

Today, 91 percent of Academy of Finance graduates go on to college.