Today’s workforce is changing.
Pursuing a degree in business can provide you with a versatile set of in-demand business knowledge as well as a deep understanding of specific fields, including marketing, finance, management and more, depending on your area of specialization.
But, what path is right for you?
From becoming a small business owner to managing an entire team, business majors can graduate and pursue a variety of career paths. Overall, business and financial occupations are projected to grow by 9%, creating about 750,000 new jobs by 2026, according to the U.S. Bureau of Labor Statistics (BLS).
Below are a few career examples for those who hold a bachelor’s degree in business. Job seekers are encouraged to do their own independent research, as requirements may vary from state to state.
Finance & Accounting
A BA in Business Administration with a Specialization in Accounting will provide you with business fundamentals and specialized accounting knowledge, including procedures of internal and public accounting and an understanding of accounting information systems. Potential careers include:
Financial Analyst – a financial analyst evaluates financial reports and often makes business recommendations, such as investment decisions, based on financial data and knowledge. The job growth for financial analysts is 11% between now and 2026, according to the BLS. The average annual wage is $97,640, as of May 2016.
Accountant – an accountant assesses all financial operations of a business, and ensures financial records are accurate and that taxes are paid on time. This position has a 10% growth rate between now and 2026. The average annual wage is $76,730.
Cost Accounting Manager – cost accounting managers work on internal documents, help establish budgets and track various costs with internal processes and department activities. According to the 2017 Robert Half Salary Guide for Accounting & Finance, manager level cost accountants have a salary range between $83,500 and $108,500 at midsize companies.
Marketing
A BA in Business Administration with a Specialization in Marketing focuses on fundamental business and marketing principles including how to create marketing strategies, understand consumer perception and behavior and manage growth. Career opportunities include:
Marketing Manager – marketing managers work to increase sales and profitability by estimating the demand for products and services, developing marketing campaigns and helping companies expand into new markets and acquire new customers. Between now and 2026, marketing manager positions are expected to grow by 9%. The average annual wage is $144,140 as of May 2016.
Public Relations Specialist – public relations specialists create and manage an organization’s public and media relations programs to maintain a favorable brand image for the company they represent. Job growth is projected to grow by 9% between now and 2026. The average annual wage is $66,540 as of May 2016.
Market Research Analyst – a market research analyst gathers and analyzes market data to provide information for product design, marketing campaigns and opportunities for market growth, including new products, new retail locations or changes needed throughout delivery or the supply chain. Growth is projected at 23% between 2016 and 2026 with a current average annual wage of $70,620, according to BLS.
Management
A BA in Business Administration with a Specialization in Management presents an overview of the disciplines of management, including staffing, strategy, planning and leadership as well as focusing on managing in a global economy. Career options include:
Business Analyst – business analysts are responsible for improving an organization’s efficiency and performance in a variety of areas. They often specialize in a particular area, such as technology, corporate structure or inventory management. Management analysts – including business analysts – are expected to grow by 12% between now and 2026. The average annual salary is $91,910 as of May 2016.
Business Manager – a business manager’s roles and responsibilities can vary depending on the industry and size of the organization. However, they typically assist companies in reaching goals and objectives relating to profitability, productivity and sales. Other responsibilities may include running daily operations and administrative services. The average salary for general and operations managers is $122,090, as of May 2016, according to BLS.
Account Executive – an account executive is responsible for creating and sustaining long-term customer relationships by securing new business and maintaining customer care. These professionals may also develop and execute sales strategies to attract new clients. The average annual salary for sales representatives is $63,070.
Human Resources
A BA in Human Resources Management focuses on business fundamentals such as accounting, finance, marketing and more, while incorporating specialized human resources topics such as hiring and recruitment, training and development, and compensation and benefits.
Human Resources Manager – human resources managers plan, direct and coordinate an organization’s workforce, including employee benefit programs, recruitment, training and development, hiring, and directing disciplinary procedures. According to the BLS, there is a 9% career growth for HR managers between now and 2026. The average annual salary is $120,210.
Benefits Administrator – a benefits administrator designs and administers a company’s benefits program to all employees in accordance with company goals. Additionally, this specialist makes recommendations for insurance and retirement plans and negotiates for programs that align with company objectives. The projected growth for compensation and benefits manager is 5%, according to BLS. The average annual income is $126,900.
Training and Development Manager – training and development managers develop direct and coordinate programs to enhance the skills and knowledge of an organization’s employees. These positions are expected to grow by 10% between now and 2026. The average annual salary is $115,180.
Explore Opportunities
Career opportunities within business continue to expand in other sectors as well. Those with business skills are also needed in information technology and healthcare. Additional careers in those sectors include:
- Application Development Manager
- System Support Manager
- Assistant Hospital Administrator
- Medical Accounts Receivable Manager
- Risk Management Director
Learn more about Business Administration Programs offered through Florida Tech, 100% online, by exploring our programs today.