Business Administration Careers: A college degree with a focus on accounting or finance is required for the majority of business administration careers. In this article, you can find out more about these degrees as well as typical jobs for business administration majors. Other parts address options for careers, chances for continuing education, and solutions to frequently asked problems.
Business Administration Career Outlook
Jobs in business administration can be found in jobs that assist businesses and organisations in achieving their financial objectives. The usual salary range for these professions is $50,000 to $90,000. Additionally, the Bureau of Labor Statistics (BLS) forecasts that employment for these professionals will increase by 7% between 2018 and 2028, which is faster than the rise anticipated for all professions in the US.
Skills Gained With a Business Administration Degree
The foundations of business and management best practises are taught to students in business administration degrees. They gain knowledge on how to organise, manage, and maintain the physical, financial, and human resources that make up an organisation.
Students gain leadership qualities, such as analytical, communication, and problem-solving skills, through coursework and training. Learning does not stop at the undergraduate level for many business administration career pathways; it continues through certification and personal/professional growth.
- Analytical
- Math
- Project Management
- Organisational
- Communication
Business Administration Career Paths
Students should take into account potential emphases or specialties and how these decisions may affect their available career paths, in addition to criteria like programme cost and length, on-campus requirements, and accreditation. Even at the undergraduate level, many students have a clear idea of the business administration careers they wish to pursue. A student should choose a concentration that aligns with their professional goals in order to prepare for their intended career. Check out the list of specialties below, which includes both conventional and cutting-edge career paths in business.
- Accounting
- Computer Information Systems
- Finance
- Marketing
How to Start Your Career in Business Administration
According to the BLS, a bachelor’s degree is typically required for employment in business administration. You can acquire the core business information you require along with employable skills from general education classes with a four-year degree. As a result, you have the option to change careers if you determine that a career in business administration does not suit your personality. You may decide that a graduate degree, such as an MBA, is required for career advancement as you gain experience in entry-level positions. Some firms will pay for employees to return to school and obtain their master’s degrees, while your company might only hire people with this degree for management-level positions.
Bachelor’s Degree in Business Administration
Students who get a bachelor’s degree in business administration (BBA) develop a broad range of in-demand skills that can be applied in a variety of industries, including the financial, technological, medical, and other fields. With a BBA, students have freedom, mobility, and room for professional advancement. Business administration students learn the core knowledge and skills needed to adapt to evolving markets and technologies in a dynamic economy. Graduates of BBA programmes can also use their knowledge in other industries if the chance arises.
A BBA meets the entry-level education requirement for many business management and administration positions. Additionally, the BLS predicts above-average employment growth in the business and finance sectors.
What Can You Do With an Bachelor’s in Business Administration?
- Accountant and Auditor
- Budget Analyst
- Cost Estimator
- Human Resource Specialist
- Logistician
Source: BLS
Master’s Degree in Business Administration
Students who pursue professional business degrees or MBAs have a thorough understanding of how firms function as well as the abilities and knowledge required for management and leadership. According to a recent study by the National Center for Education Statistics, American universities awarded more master’s degrees in business than in education, which came in second place.
Graduates can start their business administration jobs with a BBA, but an MBA can help them promote their professions further. Graduates of MBA schools are equipped to assume management positions across industries.
What Can You Do With a Master’s in Business Administration?
- Information Technology Manager
- Financial Manager
- Industrial Production Manager
- Management Analyst
- Top Executive
Source: BLS
Doctorate Degree in Business Administration
A doctor of business administration (DBA) is the highest level of education available in the subject. By completing 3-6 more years of school, students who engage in these programmes continue to strengthen their theoretical understanding of business and company management. A DBA can open up numerous lucrative employment prospects, much like an MBA does. A Ph.D. in business administration qualifies graduates for positions as academics, researchers, and economists, whereas a DBA prepares professionals to continue working in management.
Ph.D. tracks are distinct from DBA programmes in that they have a stronger emphasis on research, preparing graduates for careers in academia and modern business study. Some positions, such as university teaching, demand that candidates obtain doctoral degrees.
What Can You Do With a Doctorate in Business Administration?
- Postsecondary Teacher
- Economist
Source: BLS
Why Pursue a Career in Business Administration?
People who can lead teams, do research, and think analytically are needed in business administration positions. Although most academic programmes aid students in cultivating and honing these skills, people should also be passionate about applying them to finish tasks and resolve issues on the job.
Graduates with a business administration degree can work in almost any private sector because businesses and organisations need business professionals who can ensure their financial success. Business administrators can therefore search for a sector that fits with their knowledge and interests.
How to Advance Your Career in Business Administration
Once you get your first job in business administration, you can look into ways to increase your earning potential. A master’s programme, continuing education requirements, and/or obtaining a professional certification may all be a part of this process. Depending on your career objectives and the demands of your company, you might need to take further measures.
Certifications and/or Licensure
If they land a job at an established business, business administrators often do not need a licence. A professional who wishes to launch their own company, however, must first obtain a licence in their native state. Each year, business owners must pay a fee to renew their licences.
Many professionals pursue optional professional certifications to improve in their careers even though a licence may not be required. The Project Management Institute (PMI), for instance, provides project management professional and portfolio management professional credentials, among its nine industry qualifications. Candidates who pass a demanding exam and satisfy other requirements, such as having a bachelor’s degree or professional experience, are certified by PMI.
Continuing Education
To continue learning pertinent skills, professionals might enrol in industrial certification programmes, continuing education options, and university certificates. Numerous colleges provide online certifications that let professionals pursue continuing education without taking time away from their jobs.
While most continuing education programmes have a fee, certain colleges could provide portions of their courses for free. Many of the well-liked business administration courses on edX and Coursera were created by professors at prestigious universities.
Some professionals might find that getting a master’s degree is the only way to develop their business administration careers. If so, they ought to inquire as to whether their workplace has a tuition reimbursement programme.
What Happens Next
Professionals may ask which options fit with their present job and career aspirations when they research online continuing education programmes. They should speak with a supervisor to discover whether classes would be useful for their current position before paying for a course. Employers may learn from this interaction that a candidate supports lifelong learning and aspires to develop their abilities.
Professionals should continue seeking out fresh approaches as they finish continuing education courses and gain experience. Among the most crucial methods for achieving this is networking with colleagues. Building connections with others who share your interests can result in a promotion or a new career. A professional association like the American Management Association or the International Association of Administrative Professionals is another option for employees.
How to Switch Your Career to Business Administration
Professionals may ask which options fit with their present job and career aspirations when they research online continuing education programmes. They should speak with a supervisor to discover whether classes would be useful for their current position before paying for a course. Employers may learn from this interaction that a candidate supports lifelong learning and aspires to develop their abilities.
Professionals should continue seeking out fresh approaches as they finish continuing education courses and gain experience. Among the most crucial methods for achieving this is networking with colleagues. Building connections with others who share your interests can result in a promotion or a new career. A professional association like the American Management Association or the International Association of Administrative Professionals is another option for employees.
Where Can You Work as a Business Administration Professional?
Industries
Business administration graduates have a variety of career alternatives when they first enter the workforce, and these options typically grow as a worker acquires more education and/or experience. Graduates with a flexible business degree are prepared for opportunities across numerous industries. According to a recent report on employment trends by the Graduate Management Admission Council, the industries with the most need for new MBA graduates are consulting, energy and utilities, healthcare, and technology.
- Accounting, Tax Preparation, Bookkeeping, and Payroll Services
- Management of Companies and Enterprises
- Financial Services
- Management Consulting
- Nonprofit
