Why Study Business Administration?: Program, Benefits, & Careers

If there is one thing that history has taught us when it comes to business and global economy, it’s that they are ever-changing notions that will be deeply impacted by current trends and circumstances. The need for reconfiguring and improving business operations is constantly on the rise, as many companies and organizations adapt to said trends. Consequently, these entities will need skilled people who are ready to take on managerial roles and develop strategies so that the organization meets its business goals and objectives.

An individual who has acquired the right skills and is acquainted with business principles will be ready to lead in various aspects of business administration, be it in the human resources division, financial management, operations management, or marketing. For this reason, studying business administration can be a smart and lucrative investment for a fulfilling career.

What Do You Learn in Business Administration?

If you are considering a career in business, choosing business administration as your major will be an educational experience that will teach you the comprehensive principles and concepts of this field. A good program will focus on both theoretical and practical aspects of business administration to fully prepare students to apply their knowledge when solving real-world problems. 

This degree should contain courses that offer a multidisciplinary approach to business, from finance and accounting to management, law and ethics, local and global economy, communication, marketing, human resources, and other disciplines related to these studies.

Benefits of Studying Business Administration

Apart from getting a comprehensive introduction and gradually an in-depth understanding of how business enterprises operate, a degree in Business Administration offers much more than that. Here are some of the prospects and the benefits that you can expect upon enrolling in this program:

You acquire new skills for roles in business administration

While theoretical knowledge is an indispensable component of an effective educational experience, the hard and soft skills you will be equipped with during your studies are just as important. Through lectures and participation in courses that focus on an out-of-class experience, you will be able to develop a diverse set of skills that will prove invaluable when you enter the job market. Some of these skills include the following:

Financial management 

An integral constituent of the inner functioning of businesses and organizations is its finances, which rely heavily on sound decisions that drive them forward toward profit. Financial management is an important skill that encompasses planning, raising, organizing, budgeting, and controlling funds of an organization to ensure that smart financial investments are being made.

Marketing management

Brand visibility and promotion play an important role in a company’s or organization’s growth, which is why business administration programs also focus on teaching students marketing-related skills such as coming up with marketing plans, strategies, and campaigns that promote a product or service.

Leadership 

Career roles in business administration are typically leadership and management positions, which means that you should be equipped with skills that allow you to tackle problems and tasks that involve leading a group of people or organization. Your studies will foster teamwork, communication, persuasion skills, and other leadership skills that are crucial to this field of work.

Communication and negotiation

Communication is a critical trait to have when it comes to careers in business, especially in management roles. Business career paths call for an individual who can effectively communicate and simultaneously be a great listener when it comes to employees. Throughout your studies, you should expect to work on multiple communication channels and learn to concisely articulate your ideas and points of view.

Networking

Building good relationships and connections is valuable both for your individual goals in your career and for your future role within a company. Through engaging with professors and acquaintances from your major, you will be getting more insights and learning about new opportunities in the field, which as a skill in itself will later be helpful for establishing connections in the name of a business enterprise. 

Plenty of employment opportunities

Ultimately, when considering which major to study, a good chance of finding a job upon completion is still one of the biggest incentives for students. After all, most students pursue their studies in higher education with the hope that they can apply their learned knowledge in the outside world.

According to the Bureau of Labor Statistics, employment in business and financial operations is expected to grow by five percent from 2019 to 2029, a faster growth than the average for all occupations. This increase in demand accounts for around 476,200 new jobs in various industries, which goes to show that studies in the field of business administration are a pathway to very promising employment opportunities. 

A multitude of career paths

The multidisciplinary approach of business administration studies prepares students to enter a labor market with various career paths and roles. Since the nature of this major prepares you with an extensive set of skills and knowledge in various industries, you will have the opportunity to choose among many career fields that best suit your interests. Here are some of the jobs you can expect to land with a Business Administration degree:

• Advertising Director
• Advertising Manager
• Classified Advertising Manager
• Promotion Manager 
• Promotions Director 
• Budget Analyst 
• Budget Coordinator
• Budget Examiner
• Budget Officer
• Cost Analyst
• Business Analyst
• Business Management Analyst
• Business Process Consultant
• Clerical Methods Analyst
• Commercial Specialist
• Industrial Analyst
• Management Analyst
• Management Consultant.

Competitive salary

Apart from opportunities for landing a good job and growing in your career, this field of work does fairly well in terms of salaries as well. According to the Bureau of Labor Statistics, the median annual wage for jobs in business and finance was $72,250 in May of 2020. This number is impressively higher than the median annual wage for all occupations, which up until this date was $41,950. Moreover, as you progress in your career and seniority level within an organization, you can expect a higher income as well.

Is Business Administration a Good Major & the Right Fit for Me?

Naturally, when it comes to questions such as “should I major in business administration” or “what is the right major for me,” it is hard to give potential students an exact answer as interests and skills vary a lot from one individual to the other. The best way to make a decision is to determine your own interests and whether you fit the criteria for this type of degree. Generally, business administration studies are the best fit for students who have great interpersonal and communication skills, love working in teams, and excel in leadership positions.

If you enjoy solving problems at an organizational level and want to explore learning opportunities in business in fields such as management, economics, marketing, and law, enrolling in a BA degree in Business Administration will be an important step toward a successful career in business.