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Do you want to pursue a degree in a field that comes with almost endless career potential? Well, let us introduce you to the business administration degree. Committing your time and resources to such a degree will open you many doors in the business sphere.
If all that sounds good to you, keep reading as we dig deeper into this field of study and help answer some key questions. What is a business degree? What about its job outlook and salary? What can you do with a business administration degree? Let’s find out.
What Is a Business Degree?
According to the National Center for Education Statistics, business degrees are among the most popular college majors. A business degree is the course of study that equips you with specific training for the business career path by learning some fundamental business knowledge regarding accounting, international business, finance, marketing, economics, and more. You can earn such a degree at an undergraduate, graduate, and postgraduate level.
Business degree requirements
To obtain a business degree, you will have to comply with the education requirements set by the school you attend. Most schools will require you to take classes in several business-related fields such as accounting, statistics, marketing, finance, economics, and management, among others.
Business administration degree skills
The skills you develop while studying for a business administration degree will be valuable for any business-related operation you have to deal with. The skills obtained from a business degree include:
- Understanding of economics
- Business analysis and technology skills
- Oral and written communication skills
- Data analysis skills
- Researching skills
- Financial accounting skills
- Leadership skills
- Analytical and critical thinking
- Problem-solving skills
Business Administration Job Outlook
Professionals with a degree in business administration are highly sought after by employers. The U.S. Bureau of Labor Statistics reports that the employment rate for occupations in business and finance is expected to increase by 8% from 2020 to 2030. According to their reports, around 750,800 new jobs in the business field will be available during those years.
Business Degree Salary
The average salary for business administration professionals in the United States is reported to be $45,887 per year. However, depending on the company and the exact role of the professional, the highest recorded salary is $76,185 per year.
What Can You Do with a Business Administration Degree?
Usually, people who pursue a business administration degree are thinking of seeking a career in business. However, nowadays, almost every industry can benefit from the skills and knowledge of business administration professionals. You can expect to find available positions for business administration graduates in many areas such as:
Management
Skilled managers are always in demand. With the appropriate experience and credentials, they can be some of the highest-paid professionals. While working in this area, you would supervise the work of other employees, oversee the hiring process for recruits, maintain the company’s budget, and report to the senior management of the company.
Some popular positions in this field include:
- Marketing manager
- Architectural and engineering manager
- Financial manager
- Sales manager
Finance
Your business administration degree equips you with the necessary skills and knowledge to work in the finance department. In such occupations, you will be responsible for improving the financial procedures within a company, helping prepare budgets, managing receipts, settling transactions, preparing balance sheets, and other tasks.
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Some popular positions in this field include:
- Financial analyst
- Portfolio manager
- Financial planner
- Investment banker
- Quantitative analyst
Real Estate
The business administration degree program incorporates a variety of skills that you will need to succeed in the real estate realm. From mastering written and verbal communication to learning how to manage your resources well, the skills you acquire will set you apart from the other real estate agents.
Logistics
Working as a logistician, you get to supervise the complete lifecycle of a company’s products, from purchase to delivery. Such professionals maintain leadership roles. Your role would be to ensure that the flow of product distribution goes well.
Consulting
A business administration degree can help you land a job in business consulting too. Industries benefit greatly from professionals who can analyze situations and problems, provide expert advice on the subject, and help find solutions. They help develop business plans and advise on financial matters.
Is Business Administration a Good Major?
So, is business administration a good major? Well, we believe so, and we have a few reasons. The first is the career versatility it offers. The set of skills and knowledge you acquire from this degree can help you not only land a job but excel in an abundance of careers. Then, the high salary and promising job outlook express the high demand in the market for professionals with this degree and make it a worthy option for you to consider pursuing.
With work, dedication, and high-quality education, a degree in business administration can be your first step towards a long, lucrative, and successful business career.