In modern business, the only constant is change. Innovation is happening at a breakneck speed, leaving organizations hungry for the unique ideas of effective leaders. Business processes will almost certainly play a role in the career path of most professionals, regardless of whether their goals are in banking, manufacturing, art, or hospitality. Those wondering, “What can I do with a business administration degree?” should know that there are plentiful opportunities in today’s job market for professionals with diverse, dynamic business expertise.
A business administration degree provides broad business knowledge, but broad knowledge can bring broad opportunity. For those weighing their degree options, it’s important to seek programs that teach the fundamental communication and leadership skills needed to adapt quickly to a rapidly changing business environment. The following sections of this guide will help you understand the employment landscape that may await those with a bachelor’s degree in business administration.
Discover the following sections of this guide:
- Exploring the Bachelor of Science in Business Administration Degree
- Skills Gained From a Business Administration Degree Program
- Exploring Potential Industries for Business Administration Graduates
- Career Opportunities You Can Pursue with a Business Administration Degree
- The ROI of an MBA
Exploring the Bachelor of Science in Business Administration Degree
A bachelor of science in business administration generally requires 120 hours of study and is designed to help prepare students for careers in the for-profit, nonprofit, and public sectors. It should promote the development of a wide range of skills, including decision-making and advanced communication, in preparation for leadership roles across industries. Principal subjects will include management, finance, marketing, accounting, human resources, and international business, among others. The curriculum prioritizes knowledge in diverse areas, including people management, organizational strategies, leadership, and business-focused computer application.
Skills Gained From a Business Administration Degree Program
The knowledge and skills gained in a business degree program can better prepare students to be an effective leader. These skills will help graduates negotiate deals, resolve conflicts, and communicate effectively.
The backbone of every successful business is accurate accounting. Professionals who comprehend profits, losses, credit, and debts are better equipped to help a business grow and profit.
A business degree program helps to improve personal communication, while encouraging others to communicate effectively. Advanced communication skills help to understand the big picture when it comes to internal and external organizational communication.
Confidence is king. The added knowledge and competency of a business degree helps to strengthen and add clarity to communication efforts, which is essential for career advancement. Students learn to speak with more certainty and conviction — and likely be taken more seriously. Most importantly, professional confidence leads to increased productivity and a willingness to get involved in new projects.
Exploring Potential Areas Business Administration Graduates Can Work In
Regardless of the organization, management works to improve overall performance and productivity, identify and solve problems, implement change, and carry out the shared vision of the company. Management roles require self-motivation, stamina, and, most importantly, minimal supervision. Management jobs can be found in almost any industry, including healthcare, technology, business, finance, and more.
The broad knowledge gained through a business degree program is particularly valuable in marketing, since the field can include roles in brand management, integrated communications, public relations, advertising, digital marketing, e-marketing, and social media. While the roles are diverse, marketing principles and effective communication are universal. Marketing jobs can also take place in almost any industry, including education, finance, and technology.
Leaders are often destined for government work and public service. The career options in government are vast; strong skills in accounting, decision-making, persuasion, negotiating, operations, and communications are essential for a successful government career.
Few industries require business acumen more than independent consulting. Being self-employed means business begins and ends with individual expertise, judgement, communication, productivity, and, as a result, profit. The professional confidence gained through the right business degree program will hold significant value as an independent consultant.
The logistics industry connects suppliers and consumers through multiple transportation modes, including air and express delivery services, freight rail, maritime transport, and truck transport. Logistics remains a booming industry — one that’s looking to fill 1.4 million jobs by 2018. This industry may be a natural fit for a business degree holder, as it ranks No. 6 on U.S. News & World Report’s list of the best business jobs.
The financial industry seeks business graduates to become leaders in financial institutions, including banks, insurance companies, and investment services, among others. A business degree prepares graduates to take on responsibilities pertaining to lending, economics, and accounting, as well as professional opportunities in other areas of a financial organization, including marketing and human resources.
Business concepts — from finance, accounting, and economics to marketing — are essential for a real estate career. The industry is constantly subject to market evaluation, and real estate professionals require analytical and predictive business proficiency to be successful.
Career Opportunities You Can Pursue with a Business Administration Degree
Management analysts focus on the improvement of an organization from a time and cost-efficiency perspective. While they play an important analytical role, they are also consultants, advising managers on how to make organizations more profitable through reduced costs and increased revenues. The median annual wage for management analysts was $82,450 in May 2017.
Human Resources Specialist
Human resources specialists manage the recruitment, interviewing, and placement of employees. In addition, they often perform tasks related to employee relations, compensation and benefits, and training. The median annual wage for human resources specialists was $60,350 in May 2017.
Market Research Analyst
Market research analysts evaluate market conditions to determine the sales potential of a product or service. This role is not industry-specific, which allows for fairly consistent employment in varying economic conditions. Market research analysts consult with clients about what products are in demand, who will buy them, and at what price. The median annual wage for market research analysts was $63,230 in May 2017.
Real Estate Appraiser
Real estate appraisers assign a value estimate on land and buildings usually before they are sold, mortgaged, taxed, insured, or developed. They spend most of their time in the field, visiting properties, rather than in an office setting. The median annual wage for appraisers and assessors of real estate was $54,010 in May 2017.
Most loan officers are employed by commercial banks, credit unions, mortgage companies, and financial institutions. They evaluate, authorize, or recommend the approval of residential and commercial loan applications. The median annual wage for loan officers was $64,660 in May 2017.
The ROI of an MBA
While there’s clearly plenty you can do with a business administration degree at the undergraduate level, a master’s in business administration can deliver an even greater return on investment.
According to Forbes Magazine, online MBA programs, in particular, are directly correlated with financial rewards after graduating. Online MBA graduates from Indiana University’s Kelly School of Business reported a 29% salary increase from their pre-MBA compensation. But the benefits can extend beyond compensation. The experiential nature of graduate coursework can lead to greater career opportunities, particularly with relevant work experience. Students can achieve more of a “stand-out” professional status, earning promotions sooner and attracting new job opportunities, which was reported by 76% of online MBA students at the University of North Carolina’s Kenan-Flager Business School.
A program that offers practical experience, and an opportunity to speak the language of business and apply leadership skills, can have an enormous impact on your career. By pursuing a bachelor’s or master’s degree in business administration, graduates may enjoy a more flexible career with more potential for growth in every industry, not to mention better job security in varying economic climates.
Learn More about Maryville University’s Online Bachelor’s in Business Administration
Find out how Maryville University’s online Bachelor of Business Administration and online Master of Business Administration programs help prepare students for the successful careers in today’s rapidly evolving business landscape.