Is it possible to make just as much money being an executive at Coach as you would if you had the same position at Google? Is knowledge of trends and fashion critical if you want to be the head of one of the top brands? What would you need to study in college to be any of these things? Let’s take a peek at some questions you might have.
Is a career in luxury just as lucrative as a career in law?
There are plenty of fields of law to go into, such as entertainment law, that bring you right into the lap of luxury. If you’re interested, it’s best to start with LSAT prep books to get you prepared. Then look for law firms that specialize in handling celebrities and large powerhouse accounts.
As far as after college goes, careers in the industry of luxury can be very lucrative. That said, it’s relative to the worth of the actual industry you’ll be working in. While the fashion industry is known to be a billion-dollar industry, more is invested in the realm of law. That doesn’t mean that if you have a VP in fashion you wouldn’t be able to earn as much as a partner in a law firm. The actual fiscal worth will be relative to the company you work for and your specific role.
How do you get into the industry of luxury?
You should begin preparing for a job in this industry as soon as possible. Remember that any industry you work in, even if you’ll be working in a medical spa, it’s always a good thing to start at the bottom and work your way up. However, it’s also good when you put your own spin on whatever position you happen to be in. Branding, sales, and marketing can be the same in quite a few industries. Everyone wants to market their products, sell them to consumers, and strengthen their brand. The industry of luxury will need a different spin than the world of law, but it isn’t impossible to break into luxury, even if you don’t have any experience.
What should you study in college?
The answer to this will vary depending on what specifically you want to do within the realm of luxury. For example, you would study something different for being a luxury travel advisor than you would to be a fashion editor. When it comes to fashion, good things to study would be things like textiles, design illustration, fashion merchandising, or product development. Fashion schools that are well known include Central Saint Martins, Rhode Island School of Design, Parson’s, and FIT. If you aren’t quite sure which path you want to take, studying things like business, sales, or marketing would be to your advantage, and would also allow for you to transition to an alternate career in the future if you choose to.
What qualifications and skill sets are preferred?
Having a basic knowledge or even a vested interest in whatever industry you pursue is critical both for you and for the organization that hires you. For example, if you have a love for travel and yachting, you would be better suited to reviewing luxury yachts than someone who is a homebody prone to seasickness. You can only become truly successful at what you do when it also happens to be your passion. Do as much research as you can and go into your interview armed with information about forecasting, trends, and more. That said, as important as it is to have an inherent knowledge of the field, it’s equally important to have the know-how as well as good business acumen.
In short, having a love for the field you choose is just as important as having the necessary training. Lacking either one, regardless of the industry will leave you unhappy in your career.
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