Business administration is one of the most well-respected disciplines in science. It involves the art of running, organizing, and administrating a complex business. No wonder people with an MBA degree are paid handsomely. They ensure the proper running of a business and design an organizational structure for it. Creating and maintaining coordination enhance productivity. Therefore, business managers have observed an incredible boost in job offers recently. As per the Law of Averages, you have a better chance of landing a job with a more extensive job pool. Bachelor’s degree-holders today are supposed to have a year or two of experience in business management. The average annual income of business management jobs in 2015 was more significant than $50,000. As per Payscale and Glassdoor, these jobs now offer an average salary of more than $60,000 per annum. With proper business education, you can easily make your way up in actuary or as an economist. There are also many vacancies available for the positions of administrative assistant and senior project manager. And there’s always human resources to try your luck with if you’re fortunate enough. All you need to do is polish your business skills. You can show brilliance in finance, marketing, health services, et cetera. There are many MBA options you can try online. Now, let’s get back to some of the highly-paid opportunities in business administration we were talking about. The source of all the following statistics is United States BLS (Bureau of Labor Statistics).
- Human Resources Specialist
Average Salary (2019): $62,000 per annum
Available Positions (2018): 625,700
Job Growth (2018-28): 5%
It’s the job of the HR department to recruit and interview new employees. They make sure that they tend to employees’ complaints and forward salaries punctually. They also keep a watchful eye for any issue of harassment in the workplace. This job deals with public relations. A successful company ensures that its employees are motivated via HR.
- Sales Representative
Average Salary (2019): $63,000 per annum
Available Positions (2018): 1,732,400
Job Growth (2018-28): 2%
No business can survive without its present and potential customers. Every industry needs a person who can keep in touch with old consumers and bring new ones home. This is the job description of a sales rep. Usually, no experience in related occupations is required if you’re applying for this position. But sales reps have to keep selling the merchandise if they wish to carry on. Some become traveling agents to communicate with other organizations. They also have to answer frequent queries presented by their buyers. Customer satisfaction guarantees a sales rep’s future in business.
- Accountants and Auditors
Average Salary (2019): $72,000 per annum
Available Positions (2018): 1,424,000
Job Growth (2018-28): 6%
Accountants and auditors deal with the financial records and transactions of a company. This job also requires no experience and only a Bachelor’s degree. Overtime becomes necessary by the conclusion of the budget year or during a tax season. If you’re selected for the job, it’s your responsibility to check the company’s financial records’ accuracy. You will make sure they’re in absolute compliance with the federal laws.
- Management Analyst
Average Salary (2019): $85,000 per annum
Available Positions (2018): 876,300
Job Growth (2018-28): 14%
You can land this job with a Bachelor’s degree and less than five years of experience. Also known as consultants, these people are responsible for an organization’s productivity. They devise new methods to improve the organizations’ efficacy. Their recommendations help the company enhance its performance and make the business more cost-effective. This job can also make you traveling wildly to meet with your clients. Gathering company data and then analyzing it is no child’s play. A consultant’s real task is to explore the issues from multiple perspectives to propose a feasible business strategy.
- Financial Analyst
Average Salary (2018): $86,000 per annum
Available Positions (2018): 329,500
Job Growth (2018-28): 6%
This is an office-based job where you give guidelines about the company’s investment decisions. You can land this position with a Bachelor’s degree with no experience at all. An intelligent financial analyst recognizes international business patterns. He/she understands the global economy and marketing trends. Whereas financial managers deal with daily business, financial analysts study the worldwide mission of the company. Their recommendations help the organization decide where it’s better to spend their money.
- Sales Manager
Average Salary (2019): $127,000 per annum
Available Positions (2018): 405,700
Job Growth (2018-28): 5%
Sales managers command the company’s entire sales team. Not only do they lead them, but they also coach the salespeople. So, it’s a job where you can hire/fire employees. But you are required to have some years of experience to become a sales manager. Sales managers are also responsible for training sales representatives. The job requirements also include traveling a lot and working overtime. Sales managers allocate territories to salespeople and set quotas for their subordinates.
- Financial Manager
Average Salary (2019): $130,000 per annum
Available Positions (2018): 653,600
Job Growth (2018-28): 16%
Making financial plans and reports for a company is the job of financial managers. You can land this job with a background in accountancy or securities sales agency. Once you’re selected for this position, you control the financial empire of the organization. Financial managers study the laws and regulations regarding the finance department. So, they supervise the flow of money and check on the company’s monetary assets. They also come in handy during mergers.
- Marketing Manager
Average Salary (2019): $136,000 per annum
Available Positions (2018): 286,800
Job Growth (2018-28): 8%
An obscure business never grows outside its primary circle of consumers. Ads make people recognize you as a company deserving of their trust. Almost every big organization in the world spends a considerable part of its revenue on marketing schemes. Marketing managers are responsible for promoting their company with advertisements. They plan strategies to deal with potential rivals. It’s part of their job to find out untapped territories they can manipulate for business. The real challenge for a marketing manager is to make the company’s products adopt global standards.
Business management skills are essential in the world we live in. If you have a Master’s degree in business administration, you can get a job with zero experience. There are many reasons why you should opt for an online business degree. These courses are convenient, and they help you successfully enter professional life. In the words of Gail Marcus, you should “find a career based on what resonates with you, what matches your skillset, and what you excel at.”