As In Business Administration Jobs – There are two roads you can take to become a business administration graduate: a Master of Science in Business Administration or a Master of Business Administration.
The Bachelor of Science in Business Administration degree is designed to equip students with the necessary skills and knowledge in various business functions such as accounting, auditing, human resources, medical and health services management, marketing, finance and inventory. Business administration graduates understand how businesses operate and use their critical thinking skills to identify, evaluate and solve complex business problems.
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While the Bachelor of Business Administration (BBA) prepares students for more administrative and managerial positions, the Bachelor of Science in Business Administration (BSBA) builds analytical skills that enable students to take on technical advanced and leadership roles. This article aims to explore the seven most in-demand job positions you can get with a business administration degree.
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According to the United States Bureau of Labor Statistics, job demands in business and financial occupations are expected to grow eight percent from 2020 to 2030, adding about 750,800 new jobs.
A major growth driver for business jobs is globalization and a growing economy. As the world becomes more connected, new business opportunities open up and the demand for accountants, auditors and financial management positions will inevitably increase. At the same time, digitalization allows businesses to collect data on their audience, contributing to the increase in market research analysts and marketing managers.
As the economy expands, businesses are expanding their operations and workforce, contributing to an increase in job opportunities for business administration graduates.
A business administration degree prepares students for a wide variety of employment positions and opportunities. Here are seven job positions you can get with a business administration degree, but keep in mind that this list is by no means exhaustive.
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You can work as an accountant or auditor with a management degree. Both of these job positions are worthy career paths; They are related, but they have their differences.
U.S. According to the Bureau of Labor Statistics, the demand for auditors and accountants is constantly growing, so with an average salary of $73,560, they are undoubtedly in strong job prospects.
An accountant’s job is to handle accounting, taxation and budgeting. An accountant’s main duties are to track and review financial records, making sure everything is up to date. An accountant’s duties include ensuring that financial forecasts, risk analysis, budget reports and financial statements meet laws and regulations.
There are different types of accountants: public accountants, management accountants, government accountants, etc. Each specialty has its unique responsibilities.
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On the other hand, an auditor’s job is to be responsible for checking the cash flow and accounts of the company, ensuring that they are being accurately recorded and processed. They ensure that assets are protected and financial records meet legal requirements.
To become an accountant, you need to pursue advanced education and formal certification. Most accountants have a bachelor’s degree in accounting or a related field, and some countries require advanced coursework in subjects such as financial reporting, taxes, and other accounting business areas.
Accountants usually have a bachelor’s degree in finance or accounting. But, generally, an accountant is required to have advanced coursework, usually 150 credit hours in accounting or a related field.
U.S. According to the Bureau of Labor Statistics, the 2020 median salary for auditors and accountants is $73,560.
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The employment outlook for accountants and auditors predicts an increase of 7 percent from 2020 to 2030, which is the average pace for all job positions.
Human Resource Specialist (H.R. Specialist) has great responsibilities in the company and they are essential for the success and efficiency of the company. Recruitment, training and development, pay and performance management are critical in business and a hiring manager ensures that these processes run smoothly.
HR specialists post job openings, monitor applications, interview and hire talented people, process contracts, conduct training sessions, keep records of complaints and suggestions. They deal with administrative duties and regulations and help resolve disputes within the company.
If you want to become an HR specialist, you will need to obtain a master’s degree in public administration, human resources, business administration, or a related field. Advanced coursework in HR and management is a big plus.
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U.S. According to the Bureau of Labor Statistics, HR professionals earned a median annual salary of $63,490.
Over the next decade, the employment outlook for HR professionals is expected to grow by 10 percent. About 73,400 openings are projected annually for human resources specialists.
Medical and health services managers work behind the scenes in hospitals, clinics, nursing homes and similar healthcare institutions. They play an important role in tracking and managing the day-to-day operations of a healthcare organization.
Medical and health services administrators plan, direct, and coordinate medical and health services in hospitals, public health agencies, clinics, managed care organizations, public health agencies, and other similar organizations. They are responsible for finances and budgets, the hiring and training process, and may supervise employees.
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This job position requires a minimum of a bachelor’s degree in healthcare management or business administration. However, a master’s degree is relatively common for professionals in this field.
U.S. According to the Bureau of Labor Statistics, the median annual salary for medical and health services administrators was $104,280 in 2020.
Entry-level (with less than one year of experience) medical and health services administrators earn an average of $61,869, while those with ten years of experience earn $78,278.
Employment of medical and health services managers is expected to grow 32 percent from 2020 to 2030, faster than all other occupations. Over the next decade, approximately 51,800 jobs are expected to open for medical and health services managers each year.
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The role of market research analyst is critical in many companies and organizations. Market research analysts help companies understand the needs of their target audience by researching and evaluating data.
Market research analysts study market trends and conditions to understand customer needs and then create and market the right product. They are responsible for gathering various data about customers, marketplaces and competitors, which helps the company better understand their audience. They do this by understanding business objectives and designing surveys that gather potential customer preferences.
Generally, you need a bachelor’s degree to work as a market research analyst, but consider getting a master’s degree; You can get good job positions and good salary.
U.S. According to the Bureau of Labor Statistics, the median annual salary for a market research analyst was $65,810 in 2020.
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Employment of market research analysts is expected to grow by 22 percent from 2020 to 2030, presenting enormous opportunities for those interested in this career. Over the next decade, there will be approximately 96,000 job openings for market research analysts each year.
A financial manager is responsible for managing the finances of a company, agency or organization. They oversee all the important financial functions of a company or organization like monitoring cash flow and profitability, giving financial advice, taking important decisions, managing the risk of financial loss.
Financial managers are responsible for preparing financial reports, directing investment activities, planning profits, managing credit, and coming up with strategies to reach their company’s financial goals.
A minimum bachelor’s degree is required to work as a financial manager. But master’s degrees and other training and certifications are widespread in the field.
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U.S. According to the Bureau of Labor Statistics, the median annual salary for financial managers was $134,180 in 2020.
However, to reach that salary, you need to have a few years of experience. For example, entry-level financial managers with less than one year of experience earn an average of $60,268. In contrast, a mid-career financial manager with five to nine years of experience can expect to earn $98,013.
U.S. The Bureau of Labor Statistics projects job growth of 17 percent from 2020 to 2030, which is faster than the average growth rate for all occupations. About 64,200 job openings for market research analysts were added each year during the decade.
A marketing manager deals with the marketing and promotion of a business or product. They ensure that the company is attracting its target audience and developing the brand’s identity,
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A marketing manager interacts with customers to understand their needs and preferences. They create plans and strategies to market their products or services and effectively connect with as many potential customers as possible.
The minimum education requirement for a marketing manager is a bachelor’s degree in marketing, advertising, communications, or other related fields. Many earn a master’s degree to increase their competitiveness in the job market.
U.S. According to the Bureau of Labor Statistics, the 2020 median annual salary for a marketing manager was $141,490.
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An entry-level marketing manager with less than one year of experience earns an average of $48,508, rising to $69,959 after five years of experience.
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