Kickass Business Administration Career Guide You Don’t Want to Miss
Looking to get a business administration degree? This career guide will help you understand a few essentials.
A business administration degree is a four-year undergraduate program that provides students with the skills necessary to excel in various fields. It teaches the key aspects of a business’s various requirements that include the essentials of marketing, management of finance, and human resources.
So, what can you do with it? Let’s guide you through some of the basics of having a business administration degree, the highest-paying jobs it can get you, and the entry-level jobs where you can kick-start your career in business administration.
What Can You Do With A Business Administration Degree?
A business administration degree is a great way to get involved in the world of business in many different ways. If you’re interested in a career that’s all about management, this could be the right degree for you.
There are many career paths you can unlock by getting a business administration degree. That’s why a business administration degree is a perfect choice for students who are interested in a wide range of career opportunities.
The degree covers a variety of topics including
- Business Marketing
- Business Finance
- Human Resources
Thus, a business administration degree can help you learn about the different aspects of running a successful enterprise. As mentioned above, it teaches you key aspects of a business’s financial management, such as financial planning, accounting, expenditure, etc.
On the other hand, it prepares you for key marketing aspects as well, including planning and management of promotional campaigns. And lastly, every business administration degree eventually learn about human resources and organizational development.
Hence, the degree thoroughly prepares for challenges in recruitment, employee management, payroll management, etc. The curriculum includes courses such as financial management, marketing management, and business planning.
Business Administration Degree Salary
There are plenty of jobs you can get with the help of a business administration degree. Granted, each degree offered by specific universities will provide a certain specialization, i.e. marketing or financial management.
That’s why, job titles differ, and so do salaries. According to Southern New Hampshire University, the most common job titles for a business administration degree holder are:
- Accountant or Accounts Manager;
- Administrative Services Manager;
- Financial Analyst
- Human Resources Manager/Recruiter;
- And Marketing Manager.
These common job titles also earn different sorts of pay. Now, how much do they earn on average? Let’s talk about the most sought-out jos, and the highest-paying jobs after getting a business administration degree.
The first is human resources, and the other is financial analysis. Here’s how much they make:
- According to BLS, a bachelor’s in management or administration can expect a median pay of 62,000 as a beginner in human resources.
- Whereas financial analysts have the highest average pay for a beginner with $95,000 per year for someone with a bachelor’s degree in business administration.
Now, of course, these numbers will depend on the industry, level of experience, and other skills required by the employer. That’s why payscale.com suggests that a business administration degree holder earns around $60,000 – $98,000 per year.
Once again, the numbers suggest a similar area of $60-90k per annum for any bachelor’s in administration degree holder. But of course, it all comes down to the expertise and the area or niche that you choose once you’ve finished the bachelor’s degree program.
Besides that, a lot of business administration degrees in the US focus on specific areas of business administration. So, it depends on your major, as well as your area of study such as marketing, management, HR, etc.
6 High-Paying Jobs with a Business Administration Degree
As mentioned before, the business administration degree holder can unlock many different careers. However, if you’re hopeful for a hefty paycheck, then you should consider jobs that pay as such. These are some of the highest-paying jobs for business administrator degree holders in the US:
1. Financial Managers
Financial managers are the guiding force behind large companies’ financial planning and management. They are responsible for making sure that the company is on track in order to avoid any financial risks. That’s why they have the highest earnings:
- Average Median Pay: Around $131,000 per year
Moreover, financial managers can be found in a variety of different industries, as they have skills that are transferable to many different industries such as banking, investment, foreign exchange, insurance, real estate, production, etc. They also need to know about a wide range of subjects, from corporate finance and accounting to taxation law.
A bachelor’s degree is usually required for this position, but a master’s degree in business administration can make one more competitive for jobs at higher levels.
2. Sales Managers
Sales managers are responsible for the success of their team and the company as a whole. This includes pitching new products, converting leads into customers, achieving specific monthly, quarterly or yearly targets, as well as maintaining the net promoter score. That’s why they earn a hefty salary:
- Average Median Pay: Around $127,000 per year
And, they also have to ensure their subordinates are properly trained and motivated, to work on the right deals. Moreover, sales managers make sure that their team has the best tools to do their jobs such as Salesforce, HubSpot, Soho, Calendly, etc. They also work closely with financial managers to make sure that the company is achieving its fund sourcing targets for its future growth.
3. Human Resources Manager
Human resources managers are responsible for all the administrative tasks that are related to human resources. They ensure that a company has enough skilled and qualified employees to meet the demands of its organization’s objectives.
- Average Median Pay: Around $126,000 per year
The responsibilities of human resource managers vary depending on the company, but they typically include hiring, firing, training, and managing payroll. They may also be in charge of developing and implementing policies for other HR-related tasks such as benefits and compensation.
4. Financial Analysts
Financial analysts are professionals who analyze the financial performance of a company and make recommendations to clients and customers. They also provide advice on investment opportunities, projections of growth, and types of financial products that bring in profits. The job scope of a financial analyst is variable. They have to be skilled in many areas like accounting, finance, economics, math, statistics, business management and even marketing and sales skills. So, how much do they earn?
- Average Median Pay: Around $95,000 per year
Due to the diverse nature of this profession, it is not easy to find a good fit for all the skill sets that are required. That’s why most companies require candidates to have degrees in finance or accounting or business administration. With some work experience before they can apply for a position as a financial analyst.
5. Financial Advisors
Financial advisors are professionals who help people to manage their finances and plan for their future. Financial advisors aren’t exactly financial planners, but they can be a part of the team that helps clients with their financial planning.
Financial Advisors are usually paid on commission, which means they get paid when they make a sale. This indicates that they have the incentive to sell products and services from the company that employs them, instead of being impartial and looking at all options for their client. In the US, they earn
- Average Median Pay: Around $94,000 per year
They often specialize in a particular area of finance such as tax planning or savings. A Financial Advisor may also have a bachelor’s degree in business administration (BBA).
6. Management Analysts
Management analysts are responsible for the improvement and efficiency of a company. They have the responsibility to create a plan to improve the company’s management and efficiency.
- Average Median Pay: Around $93,000 per year
Management analysts are typically employed in organizations that have more than 10 employees. They do this by using their skills in various fields such as business, law, or engineering.
5 Business Administration Degree Entry-Level Jobs
Now that we know about the high-paying jobs for business administration degree holders, let’s talk about entry-level jobs.
1. Human Resource Assistants
HR assistants are the ones who take care of the HR tasks for their managers. They can do everything from scheduling interviews to compiling reports. Usually, HR assistants remain assistants only for a brief period of time.
In most organizations, this position lasts around 6 months to a year, then they are promoted to mid-level executives. So, their base pay is:
- Average Starting Salary: Around $55,000 per year
The career path of HR assistants is that they will eventually be more specialized in different areas such as recruitment, HR data analysis, and compensation and benefits administrators.
2. Social Media Coordinators
Social Media Coordinators are a key part of any marketing team, as they are responsible for making content calendars, and ensuring posting of fresh content across various social media channels used by a company or organization.
- Average Starting Salary: Around $43,000 – $55,000 per year
Besides that, they also work with marketing managers to work according to the organizations’ goal, and that’s why a Social Media Coordinator should be creative, detail-oriented, and well-organized.
3. Assistant Financial Analyst
A job as an assistant financial analyst is a good way to start your career in finance because it doesn’t require a lot of training, nor a lot of experience to get started as you can work under a senior, or mid-level financial analyst.
So, what exactly does this person do? These individuals usually work with both senior and junior accountants to help them with data entry, analysis, and other administrative tasks. And how much do they earn?
- Average Starting Salary: Around $52,000 per year
Besides helping their main financial analyst, the assistant’s job would usually be to support them in their tasks, such as evaluating investment opportunities or creating financial strategies to scrutinize present financial plans.
4. Assistant Marketing Manager
The assistant marketing manager is usually an entry-level or junior member of the marketing team who supports the senior management by carrying out specific tasks appointed to them. What exactly are these tasks? They usually include research and analysis, planning, coordination, execution, monitoring progress, and reporting.
- Average Starting Salary: Around $60,000 – 83,000 per year
So, as an assistant marketer, your responsibilities in this role will be to understand how each campaign impacts their specific department as well as the overall business goals of the company.
5. Associate/Assistant Project Manager
Assistant/associate project managers is another great way to kickstart a business administrative career as this entry-level position is responsible for executing the business strategy and marketing campaigns of a business. As an assistant project manager, you will be required to work on everything from advertising and social media marketing to public relations and customer service as well as supervising projects’ progress and target achievements along with your project manager.
- Average Starting Salary: Around $65,000 – 67,000 per year
So, as the title of this position suggests you will be required to handle specific tasks until you’re deemed ready to lead them on as a senior or mid-level project manager.
3 Associate Business Administration Degree Jobs
If you’re looking to get into an associate degree program for business administration, then here are four of the jobs you can get:
1. Administrative Assistant
Administrative assistants are the backbone of any organization. They are found in various organizations, such as schools, medical or legal offices, government offices, IT companies, marketing companies, and hospitals.
- Median Salary: $38,000 – $48,000
They perform a variety of tasks including answering phones, scheduling meetings, and creating reports. Their purpose is to help their superiors function more efficiently. In some cases, they also manage budgets and oversee other employees’ work. And, lastly, they are also responsible for reporting important events, schedules, and meetings to staff and managers.
2. Customer Service Associate
The role of a customer service associate has evolved over time to include more specialized skills. They may be required to have knowledge in specific industries or fields such as technology.
- Median Salary: $33,000 – $45,000
However, the basis of every customer service associate’s job is to provide the right assistance to customers, including sales and after-sales support.
3. Executive Assistant
The role of an executive assistant is to manage the day-to-day tasks of a senior executive. They are often the first point of contact when dealing with outside organizations or individuals.
- Median Salary: $42,000 – $61,000
The responsibilities of an Executive Assistant usually include managing the personal and professional schedules of their senior executives, as well as coordinating and organizing meetings, events, and travel arrangements.
Is A Business Administration Degree Worth It?
The short answer is, yes it is definitely worth it. It takes up to 4-5 years of your life—depending on if you continue on to a Master’s Business Administration degree. However, all that time spent in academia will be worth it. Not only because it’s one of the most sought after degrees, but also because it generates a lot of job opportunities.
The few benefits of getting a business administration degree include
- High-paying jobs, and high-paying entry-level jobs;
- A lot of potential for career growth;
- A lot of potential for switching industries;
- Versatility in terms of working in various organizational types.
This is because business administration courses are designed to give students the best possible preparation for their desired careers in any field, across industries. Some graduates find jobs in industries such as banking, investment, insurance, accounting, while others go on to pursue graduate degrees in sports management, business analytics, supply chain management, etc.
Conclusion
A business administration degree will teach you the fundamentals of management and administrative skills. Thus, it’ll help you become the perfect employee for any firm or company around the globe. Because you’ll learn about marketing, finance, and accounting. You’ll also learn how to manage people and make sure your company is running smoothly overall.
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