The employment outlook for people with business administration degrees is similar to those with other college degrees. It all depends on the national and global economy. As the economy grows, the demand for workers with business knowledge and skills also grows. People with business administration degrees work in careers that help the economy run smoothly in any industry.
Business administration as a career field provides an extensive range of career possibilities for people with a business degree. A college degree in business administration is the key that unlocks the door to these various job opportunities. College graduates with business administration degrees can seek employment in the business world; local, state, and federal government; medicine and healthcare; education; construction; and a number of other industries. Alternatively, business graduates can start their own companies and businesses.
Business Administration Degrees And Careers
An associate degree in business administration prepares people for business administration jobs by providing basic training in business fundamentals. Along with organizational and leadership skills, two-year business degrees give people the necessary skills to enter a career in the business world. Community and junior college graduates work in various supervisory positions, such as administrative assistants, business entrepreneurs, and lower-management positions.
A Bachelor of Business Administration (BBA) degree prepares business professionals to work in a variety of higher-level management positions. People studying for business administration degrees must complete college coursework in business accounting, finance, business ethics, marketing research, economics, employee management, and related subjects. In addition to the BBA, graduates may earn alternative four-year degree titles. These include Bachelor of Science in Business Administration (BSBA), Bachelor in Management Studies (BMS), Bachelor of Business Management (BBM), Bachelor of Business Studies (BBS), and Bachelor in Management and Organizational Studies.
Business office manager, business development manager, employee manager, department supervisor, and executive are just a few professional positions available for people with bachelor’s degrees in business administration. Other common job titles for business degrees include business analyst, accountant, auditor, account representative, and business owner.
Top-level management positions typically require postgraduate education, usually a master’s degree. The Masters of Business Administration (MBA) degree attracts people from many other academic discliplines. MBA programs introduce graduates to accounting, finance, human resources, marketing, operations management, and other business areas beyond the levels of bachelor’s degree. In addition to an MBA, high-level business management jobs usually require additional industry credentials, as well.
Salaries For Business Administration Careers
According to recent data from Salary.com and the United States Bureau of Labor Statistics, business administration jobs typically pay between $41,000 and $117,000 a year. Entry level salaries often start much lower, around $30,000. Business career income levels depend on the particular business administration degree, job position, job responsibilities, past work experience, career industry, and other factors.
Salary.com reports annual business administration salaries between $41,000 and $94,000 for business office managers, with $67,500 as the average. Business supervisors generally earn between $46,000 and $84,000, or $65,000 on average. Business development managers can earn considerably higher wages, typically in the $60,000 to $117,000 salary range, with an average income of $88,500.
Administrative services managers, such as medical and health services managers and public administrators, earn even more money — up to $136,000 a year. These positions usually require a master’s degree in business administration or public administration.
Annual salaries for administrative assistants with two-year associate degrees in business administration range from $29,000 to $67,000, or $48,000 on average. Employment in companies and enterprises, colleges and universities, and local governments generally pay better salaries than jobs in elementary and high schools and state government.
Job Outlook And Career Advancement
Business administration careers in the United States have seen average growth in past years. The recent economic climate has produced job layoffs, salary cuts, and slower job growth in the business world. However, business jobs are expected to grow at least as fast as average in the coming years. In fact, the United States Bureau of Labor Statistics projects a better than 10 percent job growth for business administration careers between 2008 and 2018.
Certain industries, especially those that are experiencing growth, will likely create new business administration jobs for people with college degrees. College graduates with bachelor’s degrees and MBAs will have the edge over other candidates. America’s growing industries include medicine and healthcare, social services, education, science, technology, technical services, and construction.
Professional advancement depends on a person’s position and chosen career path. Some business management jobs provide opportunities for advancement through work experience and continuing education. Others require additional education, such as a master’s degree, or additional industry credentials.
Generally speaking, the business world looks for skills in management, finance, policy development, employee relations, business writing, business software, and leadership. Someone with bachelor’s degree or master’s degree in business administration will have these skills and can work in just about any business. Combined with a growing economy, the business administration career future looks bright.