Published on: February 4, 2022
Earning a degree in business administration can open up a diverse selection of career opportunities for aspiring business professionals like you. Companies and organizations of all sizes and in all sectors rely on employees with extensive business knowledge to keep things operating smoothly at all levels, from finance and management to manufacturing and IT. The right business administration degree can make a world of difference for your business career.
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What is aBusiness Administration Degree?
Abusiness administration degreeis a two- or four-year program designed specifically to help professionals advance within the business world. Business administration, in its most basic form, is the task of managing an organization's resources, time and people.
Professionals in business administration ensure that companies and organizations operate effectively and efficiently. This is a balancing act that necessitates knowledge and abilities from a variety of fields.
Business Administration DegreeConcentrations
Since business administration is such a broad field, there are many career-defining specializations to consider. For example, you might focus on:
As with most careers, a specialty focus can reveal opportunities better aligned to your long-term goals.
Skills Gained with aBusiness Administration Degree
A degree in business administration can help you hone skills such as:
- Relationship building
- Strategic thinking
- Marketplace management
- Ethical decision-making
- Goal setting
- Project development
The goal is to equip you with the skills necessary to manage a business successfully.
Are Business Administration Majors in Demand?
Business degrees are in high demand among both students and businesses. Business degrees are highly valued and may lead to work in a variety of companies and fields. Graduates with a business degree may be eligible to apply for employment in government, health care and education, as well as the private and corporate sectors. Because the business world is so big, new fields, jobs and advancement opportunities emerge all the time.
TheU.S. Bureau of Labor Statistics(BLS) states that business administrator positions are growing faster than average. They estimate there will be an additional 28,000 roles annually in this field over the coming decade. And that is only for business administrators. The flexibility that comes with this degree means you can qualify for many roles in business.
How Long Does It Take to Earn aBusiness Administration Degree?
Assuming you take classes on a full-time basis, it can take anywhere from two to four years to earn your undergraduatebusiness administration degree. It will take longer if you go to school part-time or if you choose to specialize.
The length of time is also dependent on the type of degree you choose. An associate degree program can take two years to complete. Students pursuing a bachelor's degree in business administration may anticipate enrolling in a four-year program. If a student transfers from another program with transferable credits, this time frame may be reduced to two years.
It is possible to earn a two-year degree and begin working while you continue your studies. Transfer students are generally required to have an associate degree or a minimum of 60 transferred credits to complete a bachelor's in business administration program in two years.
A Master of Business Administration (MBA) usually necessitates another two years of study. Some MBA programs offer fast-track options to complete the degree in as little as one year. An MBA program may include completing classes related to a specific area of emphasis, such as accounting or human resources management, albeit a concentration may only be offered as part of a two-year program. These specializations can help participants achieve the qualifications needed for advanced careers in specific fields.
What Types of Jobs Can You Get with aBusiness Administration Degree?
One of the perks of abusiness administration degreeis the wide range ofbusiness administration jobsavailable. Consider some positions you can pursue with various degree programs.
Associate Degree in Business Administration
Want to get into a professional role sooner? At two years to complete, an associate degree in business administration may be the way to go. There are several jobs available to you at this level, including:
- Sales Manager
A sales manager is in charge of a company’s sales team or sales department. At a median annual wage of $132,290,theBLSindicates these positions are growing faster than average (7%) — 27,900 new jobs opening in the next 10 years.
- Human Resources Specialist
Human resources specialists are in charge of managing and maintaining the company staff. While the primary purpose of a human resources specialist is to seek, screen, interview and hire workers, most are educated in all HR activities and frequently undertake additional human resources duties, including employee relations, salary and benefits and training.
This role is also growing faster than the averagerateat a 9% rate, adding 14,800 new jobs in 10 years. The median annual wage is $121,220.
- Management Analyst
Management analysts help companies find ways to operate more efficiently. They advise managers on ways to boost the profitability of enterprises by reducing expenses and increasing revenues.
At a strong14% job growth rate, 124,400 new jobs are projected to open up over the next 10 years. The median wage is $87,660.
- Health Service Manager
A health service manager coordinates the business side of a medical practice or clinic. Therate for health service manager jobsis growing at a considerably faster than average rate of 32%, adding 139,600 new jobs over the next decade. At a median average salary of $104,280, it pays well, too.
Bachelor of Business Administration (BBA)
ABachelor ofBusiness Administration degreeis a full four-year program that often offers an opportunity to align electives and concentrations to your career goals.
- Market Research Analyst
A market research analyst studies various market conditions to determine how a product or service might perform. Market research analysts frequently create surveys and train and oversee the interviewers who perform them. They will then go on to analyze the study and present the findings to management. Market research analysts work for a variety of companies, including corporations and consulting businesses.
At 22%,the job outlook for this career growing at a much faster than average rate. Over the next 10 years, more than 163,000 new openings are projected with median pay today of $65,810.
- Compliance Officer
Compliance officers ensure businesses abide by the laws and regulations of their industry. Not only must a compliance officer follow the law, but they must also ensure that the company's activities adhere to internal standards. The job outlook is growing—a faster than averagerate of 18%.12,700 new jobs are projected to open over the next 10 years with a median wage currently at $81,430.
Actuaries examine the economic consequences of risk and uncertainty using mathematics, statistics, and financial theory. They also advise insurance firms on what premiums to charge and which consumers to insure. The 23% job growth rate translates into 6,800 new jobs over the next 10 years. The median wage is $111,030.
- Executive Assistant
An executive assistant supports executives and business leaders by providing administrative services. The growth rate depends on the industry. The mean annual wage at this level isaround $65,000.
Master of Business Administration (MBA)
A Master of Business Administration is a graduate degree. It is generally the minimum qualification for candidates of some of the top jobs in business.
An auditor examines financial records looking for compliance issues and discrepancies. The job outlook for auditors and accountants is, at 7%,faster than average with estimated job growth of 96,000 jobs over the next decade. The median wage is $73,560.
- Marketing Manager
A marketing manager leads a team responsible for advertising and promotions. The 10% job outlook isalso faster than averagewith an estimated 31,800 new jobs in 10 years. The median pay is $141,490.
- Management or Business Consultant
An individual holding this position is paid to provide consultation to businesses and corporations to help them grow. Sometimes this role focuses on training. Training and development professionals may work in almost any field and can spend a lot of time with people, making presentations and leading training activities. Daily activities may involve surveying, interviewing and consulting workers to determine their training requirements and then devising training programs to satisfy those needs.
The growth rate depends on many variables, including industry and exact services provided. The averagemean wage is $157,030.
- Chief Financial Officer
A chief financial officer is a senior manager or executive who oversees all financial activities in the business. The pay will vary based on the company's size and the industry.
Why Pursue a Career in Business Administration?
Abusiness-administration career pathis a popular choice for one key reason — job flexibility. It is one of the few degrees that allows you to work in almost any sector for companies of all sizes and to do many things.
Business is a competitive environment full of progressive and determined minds. To stand out and get noticed by today's business leaders, you must possess the necessary skills, expertise and education. Abusiness administration degreeallows you to develop those skills.
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