Business Administration / Management Degrees

Career summary: Business Managers

Average Salary

$81,080

National Average, Source: Bureau of Labor Statistics

Career Outlook

Good

12% job growth by 2022, which is slightly faster than average

Earn a degree in business administration / management from an accredited college

Our world economy thrives on the existence and successful operation of businesses, from single proprietorships to mammoth national and international corporations. Business administration involves the employment of leadership and management skills to ensure that an enterprise, whatever its size, is able to fulfill its financial, moral or other goals. In order to compete on any level of business, it is essential that business administrators be armed with the knowledge and skills that are up-to-date and viable in our competitive and complex environment.

Overview

Business administration management original

Why would I want a business management & administration degree?

One of the biggest advantages to getting a business management & administration degree is job security. While some businesses may have to cut back in certain areas to stay afloat financially in an economic downturn, those same businesses will always need someone to stay around to manage the business and oversee operations. Another advantage to being in management and administration is that when things go well with businesses they are managing, they often get the recognition accompanied with bonuses. It’s often a double edged sword, though, as far as recognition is concerned, because when businesses don’t do so well, managers and administrators can also be the scapegoats.

Job Description

What does a person with a business management & administration degree do?

There are a wide variety of jobs that are offered to people who hold business management & administration degrees. Most of them include managing people or operations, but not all of them. Some positions that don’t involve actual management include contract specialists, business analysts, personal bankers, insurance sales agents, and general sales. Most of the positions offered to people with business management and administration degrees do involve some kind of management, though.

Some of the most common jobs in this field are:

  • HR Manager
  • Business Analyst
  • General/Business Manager
  • Banking Manager
  • Contract Specialist
  • Operations Manager
  • Retail Store Manager
  • Office Manager
  • Sales Manager
  • Financial Analyst

Salary

How much does a business manager/administrator make?

The median starting salary for a business manager is a little lower than some of the other business degrees with a median range of $46,000-$55,000. The good news is that it is still well above the median starting salary for all industries. The upside potential with people who hold management degrees is also much higher than most other business degrees. In fact, one of the reasons many people choose management degrees is for the upside potential in salary. According to the Bureau of Labor Statistics, the average salary among management degree holders is a little over $91,000. Plus, many people who are in high level executive positions who have salaries in the millions of dollars started their paths in management.

Career Outlook

How popular are business management/administrative jobs?

The job outlook in the business management sector is good. In fact, among the top ten fastest growing jobs in the entire business industry is a sales manager. As was mentioned earlier, businesses are always in need of someone to manage and oversee operations, so business management majors will always be in demand. The growth rate of management jobs over the next decade is a little above the average growth rate among all jobs.

Career Path

How do I become a business manager/administrator?

The real key in becoming a manager in almost any company is longevity. Generally speaking, the longer you stay with a company the more opportunities you’ll have to move up the management chain. Getting a degree in business management & administration can only speed up that process. The degree that will speed up the process even more is a Master’s in Business Administration (MBA). Many companies will offer upper management positions to students who have just graduated with their MBA. If you have worked for a company for quite some time, and you don’t have a graduate degree, the company might even be willing to pay for you to go back to school to get your master’s degree in business, especially if management believes that you will stay with the company long term.

Salary and career outlook data provided by the U.S. Bureau of Labor Statistics.

Learning Format

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