Business Reporter Job Description, Skills, and Salary
Get to know about the duties, responsibilities, qualifications, and skills requirements of a business reporter. Feel free to use our business reporter job description template to produce your own. We also provide you with information about the salary you can earn as a business reporter.
Who is a Business Reporter?
A business reporter is a journalist who writes about the economy and business trends. A business reporter may be employed by the local newspaper’s business section, for news segments on TV, or by renowned business publications. A business reporter is also an online source of information, news, and features about the major issues that impact management and business.
These reporters analyze and gather information regarding stories that are of interest to the media. They obtain information by investigation or research, observation, or interviews. They usually create and publish stories for television, news, magazines, or radio.
Business reporters offer important details on companies and their economic activities to people who are not experts as well as the general public, professionals in business, and investors. They play a crucial role in sharing information that allows people to make informed choices on what businesses to work with, invest in, or work for.
These professionals report information about companies including their executives, initiatives, and other activities. They can also look into ethical practices, business practices, or leadership. They could also conduct interviews with entrepreneurs, business leaders directors, regulators, and others. They also write articles or stories for print publication. They also compose stories for news broadcasts or recorded programs.
A business reporter is responsible for the reporting, investigation, and analysis of the business that could comprise small-scale businesses, multinational companies, international firms, and large corporations as well as other related organizations and activities.
Business Reporter Job Description
Below are the business reporter job description examples you can use to develop your resume or write a business reporter job description for your employee. Employers can also use it to sieve out job seekers when choosing candidates for interviews.
The duties and responsibilities of a business reporter include the following:
- Writing pieces on business breaking news,
- Ensuring that readers are up-to-date on industry developments and major happenings.
- Collecting and analyzing information regarding business stories that are of interest to the media.
- Obtaining information by investigation and research, observation, or through interviews.
- Creating and publishing stories regarding business for newspapers, magazines, television, or radio.
- Developing new ideas for writing news stories that are associated with an enterprise.
- Finding creative ways to write business news.
- Keeping informed of recent business announcements and news.
- Enquiring business news stories and writing questions for interviews as needed.
- Writing, researching, and submitting business reports within the defined deadlines.
- Creating authentic and precise stories to stay clear of any libel lawsuits.
- Helping and training junior reporters to write engaging stories.
- Establishing and maintaining solid relations with contacts from the news media.
- Interviewing people of business interest.
- Adhering to the directives from the director’s office.
- Taking care of administrative tasks that relate to the profession that involves writing specifications for information or communication specifications for software and technology.
- Creating online news content.
- Providing written content media systems.
- Studying patterns in the financial market.
- Recording the information gathered during interviews
- Writing captions present during live broadcasts.
- Asking questions during events.
- Creating story ideas from original concepts or press releases to provide the publications with up-to-date newsworthy content.
- Examining several press releases from business owners and advertising agencies to determine if they are worthy of coverage.
- Participating in daily meetings with professionals in public relations and gaining proficiency in public relations and marketing campaigns.
- Examining, as well as researching press releases to find potential coverage opportunities.
- Using social media platforms to find opportunities for business news.
- Utilizing social media to drive traffic online, and to create original and aggregated content.
- Encouragingreader participation and articles through work-related social media accounts.
- Reporting on news developments across a variety of business beats, including banking, retail, small business, automotive, entrepreneurship, real estate, e.t.c.
- Reporting on the economy’s health that includes the development of commercial properties, marketing as well as the tourism and hospitality industries.
- Conducting a research team that analyzes topics, collects information, and interviews sources to provide general and targeted audience members with daily reports about business-related news.
- Reporting on local and regional business news, for an online and printed
- Covering breaking economic and market news and writing articles for news online for the financial services industry.
- Utilizing specific writing techniques.
- Participating in editorial meetings.
- Finding reliable sources for information.
- Learning the most relevant topics.
- Establishing a professional network.
- Modifying text after receiving feedback.
- Providing information that is clear, concise, and exact.
- Contributing to various platforms such as newsroom and digital platforms.
- Serving as an assistant editor, which means supervision of staff, setting up pages, and overseeing daily business coverage.
- Assemblingpossible story ideas concepts from the beginning or press releases to supply publishing houses with relevant news.
- Working daily with experts in public relations, and learning how to handle public relations and marketing campaigns.
Qualifications
- High school diploma
- Bachelor’s education in journalism, or a related area.
- Minimum of five years of broadcast journalism experience.
- Prior experiences in business or financial journalism.
- Knowledge of the financial market, the economy as well as technology and business trends.
- Excellent understanding of the news about business and finance.
Essential Skills
- Communication Skills
Information will only be available from communication. As a business reporter, sometimes you travel to an area where the incident has already taken place. It is necessary to gather data from various sources and combine them to create the press release. In this case, it is essential to possess excellent communication abilities. One of the most important aspects of effective reporting as a business reporter is accessibility. As a business reporter, you should have access to details for your stories easily and quickly. You should be as accessible to the people as you can be by providing your contact details (phone or email) and getting yourself ready to be able to provide details at the drop of an opportunity. As a business reporter, you will be very busy. You will always receive requests for media from public relations practitioners that are either good or bad. Alongside offering the flexibility of timing, It is also helpful to be flexible in your content too. When you are communicating with the public, it’s not a good idea to keep certain subjects off-limits as it gives the impression of secrecy. When you are communicating with the media, make sure you are transparent in your message, and be ready to collaborate with journalists.
- Team player
Business reporters are never on their own. It’s a broad field of work that requires support from every department to ensure it is successful. A business reporter needs videographers, editors, and camera operators to complete their job. There’s no way that an editor, a producer, and a business reporter could be a solo ranger. Teamwork to accomplish assignments is the essence of collaboration in the media industry. It helps make work easier and makes it enjoyable despite the obstacles and challenging work environment that is part of the field.
- Listening skills
Some cases are technical and require the expertise of a lawyer to decide whether or not something is correct. Note that you’re required to remain neutral at all times. The only way to save yourself in this situation is to be a great listener, able to discern between both right and wrong. This is the only method to gather relevant, accurate, and pertinent information. You must pay attention and relay the correct details to avoid any legal dispute for misinterpretation of the information.
- Interpersonal skills
When you have worked with a reporter write them a personal thank you note once your story has been reported. A thoughtful thank-you note can go far and you don’t know when the next task they’re working on will work with your service or product. In the realm of media communication, as a business reporter, it’s essential to build a strong rapport with your colleagues. As a business reporter, communications in the media can get easier If you follow certain guidelines. Developing genuine relationships with media professionals and other reporters are professional connections that will allow you to stand apart when pitching stories and reaching your goal of getting press coverage to promote your business.
- Research skills
Credibility is the foundation of journalism. Business reporters earn respect for their work by presenting facts. Research skills are among the top skills required that the business reporter must possess to be a reliable source. In all the assertions you make as a business reporter, you require the backing of facts or research. Business reporters must conduct a deeper analysis of research and provide insightful analysis. Business reporters must present an accurate and thorough analysis. If you’re using data to make a point, do not cite the figures from a different source, instead, go directly to the source and hyperlink to that. If you discover that the information is older than two years old, then reach out to the media manager and inquire whether any newer numbers are available. It is also possible to supplement the data by asking professionals about how they’ve seen their numbers shift.
- Interview skills
It is a crucial quality that business reporters should have. You must be able to write unique stories. When planning questions for the interview with the interviewer, you need to be sure they’ve completed sufficient research. Make time to study the interviewees. Interviewees shouldn’t think that the reporter is lacking information.
How to Become a Business Reporter
- Education
Based on the Bureau of Labor Statistics, anyone who plans to become a business reporter must have at least a bachelor’s degree in communications or media. They could also require courses in economics, business, and finance, or government relations to focus on business journalism. Someone who is looking to become a business reporter can also obtain an academic degree in political sciences or English. There’s no exact method to becoming a successful business reporter. They need to be trained in journalism ethics techniques, practices and knowledge are usually necessary. Bachelor’s degrees in communications and journalism offer this type of training as internship opportunities. Certain employers, especially in smaller markets, will open the doors to those with degrees related to English and political science or business, who show the ability to write, possibly through writing assignments for their local or school newspaper. While some employers employ business reporters for business without specific qualifications, having some formal business education can enhance job prospects. One option is to complete a dual degree, minor or certification in business, or even a Master of Business Administration. Although not widely accessible, Bachelor’s and master’s degrees for business reporters, which combine programs in both fields are worth considering. Also, those with business degrees or backgrounds may want to consider advanced degrees or certificates in business journalism or journalism to begin their profession as well.
- Training
Experience is also a good thing to get a job in the area of journalism. For instance, one may be able to get an internship in communications or social media for a major company or start writing guest articles for a community newspaper. Editing a university or school newspaper or interning for an elected official could open the way for a job opportunity in the field of business journalism. Further training in general, as well as specialization in fields of economics and business along with the skills of news and journalism, could enhance your resume and provide job opportunities. The options for continuing education range from online classes on subjects like finding business-related stories using social media to graduate programs. Another option for business reporters with experience looking to improve their skills in the field of business reporting could be applying for a fellowship in business journalism. Fellows usually pursue year-long education courses to expand their professional expertise and network that can be funded through tuition waivers or allowances.
- Work experience
Get hands-on experience by participating in the internship program and news outlets on campus. Employers are more likely to employ reporters with experience at the entry-level who can produce corporate business news stories. Business reporters with ambitions can seek work with news agencies and can also provide reports for the campus newspaper and broadcast media. Students can gain the opportunity to create business reports which can serve as samples or videos for potential employers. Sometimes, college internships result in an offer of employment full-time. Increase your understanding of the world economy through internships or studies abroad. Certain institutions offer business journalism courses that allow students to take a study abroad course or do international internships. Interacting with business leaders from around the world and journalists can help aspiring business reporters expand their knowledge of global economics and global media practices. Many business reporters start their business reporting careers right following their graduation from college whether through successful internships or support from the career counseling services provided by their institutions. Beginning reporters typically work for small news agencies before progressing to positions at larger news agencies in large cities. New graduates may also look for freelance work with newspapers, online publications, and other news media, to begin or advance their careers. Certain employers will prefer candidates for positions in business reporting who have at minimum two years of journalistic experience in business reporting.
- Professional
Join professional journalism organizations. Membership in groups such as those of the Society of American Business Editors and Writers (SABEW), or the Society of Professional Journalists (SPJ) can assist both new journalists and veteran journalists by facilitating networking, job postings as well as professional development. Certain professional organizations, for instance, aid freelance journalists in advertising their work. The SABEW maintains a database of freelance business reporters and also connects the freelancers with potential clients and the SPJ offers a list of available freelancers, including business reporters.
Where to Work as a Business Reporter
- The Press
- TV stations.
- Radio stations.
- Magazinespublishing houses.
- Newspapers
- Online publishing firms.
- Privately-owned broadcasting firms.
- As Freelancers
Business Reporter Salary Scale
The median salary for a business reporter in Nigeria is 185,500 NGN per month.
The average annual salary for a business reporter in the United States ranges between $70,210 and $87,810 per year.