In a nutshell: A business administration degree opens the door to a variety of career opportunities.
A business administration degree remains extremely popular, and for good reason.
Political administrations come and go. So do trends. The latest technology invention becomes old news in about two months.
But one thing will likely be around: business. And every business could use leaders with the right kind of education and training. That’s where a business administration degree may come in handy.
You may have interest in a specific industry or be unsure about what exactly you want to do. Either way, earning a business administration degree may prepare leaders and managers for tomorrow, and open the door to a large number of career possibilities.
The following are some of the career possibilities you can pursue with a business administration degree, which is just a small sampling of where the degree may take you.
It’s important for you to conduct independent research as potential salary ranges and employment prospects vary based on a candidate’s work history, educational qualifications and local market conditions.
As an accountant, you focus on handling an organization’s financial records. Accountants also take responsibility for ensuring taxes get paid.
Private businesses across all industries need accountants. So do hospitals, schools and nonprofits. Some accountants also open up their own business as contractors and consultants.
According to the U.S. Bureau of Labor Statistics, projected job growth for accountants and auditors is reported at 10% between 2016and 2026. The average salary in May 2016 was $76,730.
Commercial Loan Officers
Commercial loan officers make recommendations about what businesses do and don’t qualify for a loan. Commercial loan amounts may be higher than consumer loans, as they may be used to cover a business’ operating costs or to finance any capital purchases or improvements. In many instances, multiple banks become involved because one bank may not be able to carry the loan by itself. You may need not just expert-level financial skills, but human judgment and “emotional IQ” as well.
The BLS projects the number of loan officer jobs to grow 11% between 2016 and 2026. The average salary for loan officers in May 2016 was $76,260.
As a city manager, you serve as chief executive for a municipality. City councils usually appoint city managers to the job – clearly, there is a political component to this career. As a city manager, you may handle a large variety of tasks, including making budget recommendations, crafting city policies for both personnel and services for the public and handling the appointment and termination of staff.
The BLS does not break out city managers as a separate occupation. However, for all top executives, the projected growth rate is 8% between 2016 and 2026. The average annual income for chief executives in May 2016 was $194,350.
Sales managers oversee an organization’s sales teams. You will set sales goals, analyze data and develop training programs for the organization’s sales representatives.
You may also find yourself resolving customer complaints, preparing budgets and approving expenditures, analyzing customer preferences and sales, projecting sales, determining the profitability of products and services, and overseeing staff training programs.
The BLS predicts the number of sales manager jobs to grow about 7% from 2016 to 2026. The average annual salary in May 2016 was $135,090.
Human Resources Managers
As a human resources manager, you take care of an organization’s administrative functions. That means you oversee recruiting, interviewing and hiring. You also will consult with other executives on strategic planning and serve as liaison between management and employees.
Other specific duties include planning and coordinating an organization’s workforce to best use employees’ talents, advising managers on organizational policies, such as equal employment opportunity and sexual harassment regulations, coordinating and supervising specialists and support staff, mediating disputes, and directing disciplinary procedures.
The BLS projects 9% growth in the human resources manager profession between 2016 and 2026. In May 2016, the average salary for human resources managers was $120,210.
Public Relations Specialist
If you decide to become a public relations (PR) specialist, you will manage the public face of an organization or individual client. That involves producing press releases, organizing public relations programs, and targeting audiences and determining the best way to reach them.
Duties may vary depending on the organization you serve. However, public relations specialists typically respond to requests for information, help clients communicate with the public, draft speeches and arrange interviews, evaluate advertising and promotion programs, and sometimes manage fundraising efforts.
Organizations increasingly emphasize community outreach and customer relations as a way to enhance reputation. The internet spreads both good and bad news about an organization quickly so public relations specialists must be savvy with the Web and social networking in particular.
The BLS projects growth in the field of 9% through 2026; the average salary for public relations specialists in May 2016 was $66,540.
You create programs to generate interest in a product or service. While duties vary from job to job, typically you will work with art directors, sales agents and financial staff on contracts, as well as selection of products to be advertised and advertising media for promotion.
Other duties include gathering and organizing information to plan campaigns, negotiating contracts and analyzing the effectiveness of marketing campaigns.
The BLS projects the number of jobs for all advertising, promotions and marketing managers to grow 9% between 2016 and 2026. The average salary for advertising and promotions managers was $117,810 in May 2016.
Chief Executive Officer
To reach an executive role in business, a bachelor’s degree in business administration provides a great first step. But getting to the top echelon in an organization may call for earning an MBA (Master’s of Business Administration).
As CEO, you devise the “big picture” strategies and policies that drive an organizations. You will set goals, ensure the organization is on the right path to meet them, oversee budgets, appoint department heads and manage all of an organization’s activities.
The BLS projects 8% growth in top executive positions through 2026. The average annual salary for chief executives in May 2016 was $194,350.
You may be responsible for maintaining the financial health of an organization. This may involve producing financial reports, directing investment activities and working with top executives on developing strategies for an organization’s long-term financial goals.
Other duties may include preparing financial statements, business activity reports and forecasts, ensuring legal requirements are met, reviewing financial reports and finding ways to cut costs, and analyzing market trends to find opportunities for expansion or for acquiring other companies.
The BLS projects 19% growth between 2016 and 2026 for financial managers. The average salary for financial managers in May 2016 was $139,720.
Market Research Analyst
Entering this field may require software and data analytics skills. Market research analysts use these tools to study market conditions to identify potential consumers and determine the sales potential of products and services.
Other duties include monitoring and forecasting sales trends, measuring the effectiveness of marketing programs, gathering and analyzing relevant data and explaining the results to management.
The BLS projects 23% growth between 2016 and 2026. The average salary for market research analysts in May 2016 was $70,620.
These represent just some of the career possibilities you may encounter with a business administration degree. It may prove to be a valuable first step if you want a career with the opportunity to be directly involved with top-level strategy and policy decisions.