One might think that the number of business administration students is dwindling during an economic downturn that has big big businesses and banks especially hard. But that’s simply not the case, as business remains one of the top five most popular bachelor’s and master’s degree programs in the country. If this is a path you’re considering (and statistically, there’s a good chance that it is), there are some essential things you should know before diving into the field of business administration education.
Loose Admissions Requirements
While some majors have specific and stringent admissions requirements that demand large numbers of lower-level classes and credits from their students, business administration comparably quite open about their admissions requirements. Students will need a good deal of math under their belt at most schools — at least the lower level statistic or calculus class — and perhaps a finance or economics elective.
Outside of those relatively minor requirements, business is an easy major to select. It’s a piece of information that might explain its popularity at the undergraduate level in the United States.
For students enrolled in the country’s most prestigious business schools, there is an added level of requirements, however. Most of these highly selective business schools mandate that their undergraduates earn — and maintain — a GPA of 3.0 or better before applying to the business school’s set of programs. That means they’ll have to wait at least until their second year of college to file the paperwork necessary to declare the major. It does not, however, prevent students from taking business courses and working toward their eventual degree while they wait.
Selecting Minors and Concentrations
Business administration is a huge occupational field that spans the gamut from marketing and finance to administration and executive management. In addition, the vast popularity of the major nationwide means that there are an exceeding number of well-qualified candidates with the same degree, qualifications, and coursework as all of their peers.
The best way to differentiate yourself in a field this vast and competitive is to select a minor or concentration and become the best at it. Some students might even opt to select two minors in order to broaden their job prospects and heighten their chances of getting hired.
Because the field is so vast, the number of concentrations is appropriately wide: marketing, finance, accounting, management, executive studies, corporate relations, human resources, business-to-business transactions, and many more. Find one or two of those concentrations that interest you the most and excel at them. It is truly the best way to ensure that a common degree leads to an uncommonly good job offer in a sea of well-qualified aspiring businesspeople.
The Importance of Internships
Again, due to the vast nature of the business administration degree and job candidate pool, an internship is an essential part of the business administration education. Internships can start as early as the student’s first year of college and can be either paid or unpaid. These internships can be summer jobs or part-time work assignments that run throughout the academic year. And because they’re so essential for business administration students, they’re typically creditworthy at most business schools. That means they can be covered by financial aid, and an unpaid internship may not be as financially impossible as it seems.
These internships should be with a different company each time. While it’s easy to get comfortable with just one company and keep going back for continued work experience, the successful business administration student will diversify his or her resum√© by selecting a different company for each year’s internship. This also has the added bonus of broadening a student’s networking base for their post-college career search.
Master’s Degree Programs in Business Administration
While an undergraduate business administration education provides solid ground for finding jobs in business and management, the next logical step for many students is to pursue their Master’s of Business Administration degree. Offered by business schools nationwide and increasingly important in the post-graduation job search, MBAs come in as many varieties as their undergraduate counterparts.
MBA candidates can choose to concentration in finance, management, or executive pursuits — among others. And they’ll get real world working experience while they do so, as many business schools require internships or work placements for their students.
Furthermore, MBA programs are typically taught by seasoned business professionals who are able to better communicate about the nature of the business profession. Whereas undergraduate professors may excel in basic business theory, MBA programs present students with professionals who can effectively teach the practical applications of what it takes to succeed in the competitive world of big business.
That means candidates leave with job experience, networking connections and opportunities, and a real sense for what they’re getting into. It’s no surprise, then, that the vast majority of executive-level managers and administrators have at least one MBA under their belts.