Maybe you’ve heard that Business Administration is a good major.
One that offers limitless opportunities. Even I majored in Business!
So, yeah. There’s a lot of hype.
Is business administration really the most in-demand major? Let’s check it out!
Is Business Administration a Good Major?
Before you decide to pursue a major such as business administration, it is essential to understand the career implications this major will provide.
Some of the questions you might have in this discussion are:
- What is the potential salary for a business administration major?
- Is the business industry projected to grow or shrink in the foreseeable future?
- Will a business administration major provide a career that will give me job satisfaction?
- What are the opportunities for career advancement?
Having solid answers to these concerns can help you feel confident in deciding if a business administration major is a good fit for you.
Business Administration Career Prospects and Growth
Entering a business administration major into a job search engine will not pull up many job listing.
But that isn’t because there isn’t a demand for employees with this major. It’s the exact opposite!
In fact, a business administration major can equip you with the skill set for a variety of careers across multiple fields.
According to the Bureau of Labor Statistics, the average growth is at 10% for the business and financial operations industry.
A business administration major can prepare you for a career in a variety of fields with above-average growth. Business administration majors can be found in health care management, business management, finance, accounting, and marketing.
With a business administration major, you could work in a variety of positions with above average growth as seen in these careers.
- Management Analysts: 14% growth
- Appraisers and Assessors of Real Estate: 14% growth
- Fundraisers: 15% growth
- Personal Financial Advisors: 15% growth
- Market Research Analyst: 23% growth
With growth projections like these, you can rest assured that careers in the business industry are projected to grow, making a business administration major a wise choice.
Business Administration Salaries
A key component in deciding if a business administration major is a wise investment is the projected salaries.
On average, a business professional with a bachelor’s in business administration can expect a salary well beyond the national average.
|Personal finance advisor||$90,640|
|Accountant and auditor||$69,350|
|Market research analyst||$63,230|
|Appraisers and Assessors of Real Estate||$54,010|
Source: Bureau of Labor Statistics
Regardless of the field that you choose to work in, from health care management to real estate, with potential salaries at nearly double the national average, a business administration major can be an astute financial decision.
What Can You Do With a Business Administration Degree?
A business administration degree can open doors in a variety of fields with openings for individuals with a business administration degree in almost every marketplace.
Skills Developed in A Business Administration Degree
In contrast to some majors, a business administration degree is less about what degree you graduate with and more about the tools and resources you have honed during your education. A business administration major will help you develop skills that will give you a competitive advantage in the marketplace. Through a business administration degree, you can refine your abilities in areas that include:
- Organizational Behavior
- Problem Solving Skills
The marketplace understanding that you will develop through a business degree will strengthen both your resume in securing a job, but also in helping you be successful in that job.
Advancing Your Career
For some, the natural progression in your career is completing a Master of Business Administration (MBA) and moving into upper management in your corporation.
You don’t have to put your current career on hold to get your degree.
- Quite a few well-known universities now offer programs online.
- Some accredited colleges offer accelerated online bachelor’s degrees
- You can now get your MBA in one year (on campus or online)
- Want to be called Dr.? Get your Doctor of Business Administration
Sometimes, advancing your career may look more like a zig-zag than a straight line.
You might move through various departments and seek internal promotions to scale the corporate ladder. This strategy can be strengthened through developing skills that give you an edge over other applicants, such as learning another language.
The world is becoming technologically-dependent at a rapid rate. By diversifying, you can capitalize on this development by building your understanding of IT and how you can use it to do your job more efficiently and effectively.
Getting professional certifications such as a Project Management or Supply Chain certification can also move your resume to the forefront as it shows both your knowledge and your investment into your field.
Business Administration Career Paths
Beginning your career ladder with a business administration major can prove to be very successful.
According to a survey by Payscale, a career in business administration can provide extreme satisfaction with over 47,000 people rating their job satisfaction as 5 out of 5.
Sweetening the deal, employees with a business administration degree can see a healthy increase in their financial earnings throughout their career. Payscale’s report on the median entry-level and mid-career salaries of business administration majors is seen in the table below.
|Career||Median Entry-Level Salary||Median Mid-Career Salary|
The possibilities that a business administration major provides allow you to have a career that is not only personally satisfying but also financially rewarding.
Deciding if Business Administration is Right for You
A business administration major prepares you to effectively handle business theory and management principles in a professional manner.
If you are interested in developing this skill set in an industry that is growing beyond the national average, providing an above-average salary, with the opportunity for career growth and development, then a business administration major can be a great fit for you.