Business management

Business Management Career Prospects: Jobs and Salaries


[ad_1]

During a Business Management degree, students learn to analyze financial projections, make strategic business decisions, and effectively lead teams. Learners study finance, accounting, marketing, and entrepreneurship. They also strengthen their analytical and collaborative capacities. The degree prepares graduates for leadership roles as entrepreneurs and managers.

Management careers offer high salaries and high projected demand, according to the Bureau of Labor Statistics (BLS). But how much can you earn as a business management student? And what jobs can you get with a business management degree? Recent data shows good career prospects for students graduating with a business management degree.

How Much Money Can You Make With a Business Management Degree?

On average, professionals with a bachelor’s degree in business management earn $ 66,000 per year, according to PayScale Data from September 2021. However, salaries vary considerably depending on location, industry and job title.

Many business management roles, including supervisory positions, pay above average salaries. For example, management positions pay a median annual salary of $ 109,760, according to BLS data. Industrial production managers, financial managers and sales managers all report median salaries in the six digits.

Professionals can increase their earning potential with experience, a graduate degree or professional certifications.

What jobs can you get with a business management degree?

A business management degree prepares professionals for decision-making roles in various industries. A bachelor’s degree meets the requirements for many management roles, including as a human resources director, financial director, or management analyst.

General Manager or Operations

  • Minimum diploma required: Bachelors
  • Median salary 2020: $ 107,680
  • Projected employment growth (2020-30): 8%
  • Related job titles: operations manager, sales manager, store manager

Good fit for:

  • Professionals with supervisory and leadership experience
  • Those with strong time management and problem solving skills
  • Candidates able to communicate effectively

General and operational managers lead the day-to-day operations of their division. They create budgets, oversee staff and set policies. General and operational managers also oversee projects and allocate resources. Most roles require a bachelor’s degree and work experience. After working as a CEO or operations, professionals can progress to CEO roles.

Financial manager

  • Minimum diploma required: Bachelors
  • Median salary 2020: $ 134,180
  • Projected employment growth (2020-30): 17%
  • Related job titles: risk manager, insurance manager, financial director

Good fit for:

  • Professionals with strong data-driven analysis and decision-making skills
  • Executives with experience in managing teams
  • Those with a detail-oriented approach to problem solving

CFOs oversee financial analysts and create plans to achieve their organization’s financial goals. They analyze financial data to recommend investment strategies and assess financial risk. CFOs typically hold a bachelor’s degree in finance, business management, or a related field. They should also have some experience working as a financial analyst.

Commercial director

  • Minimum diploma required: Bachelors
  • Median salary 2020: $ 132,290
  • Projected employment growth (2020-30): 7%
  • Related job titles: account manager, business development manager, area sales manager

Good fit for:

  • Candidates with sales training, including sales work experience
  • People with strong communication and customer service skills
  • Those with good organizational and leadership skills

Sales managers oversee a team of sales representatives. They evaluate data to project sales and set goals. Sales managers also train sales people in customer acquisition and sales techniques. The position typically requires a bachelor’s degree and sales experience.

Human Resources Director

  • Minimum diploma required: Mastery
  • Median salary 2020: $ 121,220
  • Projected employment growth (2020-30): 9%
  • Related job titles: Head of Training and Development, Recruitment Consultant, Head of Benefits and Compensation

Good fit for:

  • Professionals with training in human resources
  • Candidates with strong interpersonal and communication skills
  • People with leadership or management training

Human resource managers oversee the administrative side of organizations. They manage the recruitment and hiring process, administer compensation and benefits, and resolve labor disputes. Human resource managers also advise organizations on their training and staffing needs. Most human resource managers hold a bachelor’s degree with experience in human resources. Some positions require a master’s degree.

Management analyst

  • Minimum diploma required: Bachelors
  • Median salary 2020: $ 87,660
  • Projected employment growth (2020-30): 14%
  • Related job titles: management consultant, business process analyst, operations analyst

Good fit for:

  • Professionals with management training, including a business management diploma
  • Those with strong analytical skills
  • People with a detail-oriented vision and good problem-solving skills

Business analysts assess organizations to resolve problems and identify more efficient procedures. They recommend strategies that will increase income and reduce expenses. Most management analysts have a bachelor’s degree in commerce or a related field. After working as a management analyst, professionals evolve into the roles of consultants or managers.

What kinds of jobs can you get with a business management degree?

Professionals with a degree in business management work as project managers, financial directors, management analysts and general managers. The degree also prepares graduates for supervisory roles.

What high paying jobs can you get with a business management degree?

The highest paying business management jobs include CFO, HR director, and sales director. The median salary for these roles exceeds $ 120,000 per year, according to BLS data from May 2020.

This article has been reviewed by Krystal Covington, MBA

krystal-covington-016-print-500px-head-250px.jpg

Krystal Covington, MBA, is a growing business strategist with 15 years of experience in marketing and public relations. His company, Go Lead Consulting, provides clients with basic tools for building new relationships with clients.

Covington founded Denver Women, one of the largest private membership organizations in Denver, Colorado. Her program helps women increase their business acumen, hone their leadership skills, and connect with other high-performing women. Covington received his MBA from Western Governors University in 2012.

Krystal Covington is a paid member of the Red Ventures Education Independent Review Network.

[ad_2]