Are you considering earning a degree in business administration? If so, you’re in good company. Business administration is one of the most popular college majors and for good reason.
A degree in this field can open up a wide range of career opportunities and provide a strong foundation for success in the business world. But what are the highest-paying jobs with a business administration degree? In this post, we’ll take a look at 20 of the best jobs in this field, along with their average salaries and job outlook.
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Understanding the Role of Business Administration in Organizational Success
Business administration is the process of managing and organizing the functions and resources of a business in order to achieve its goals and objectives. It involves the planning, organizing, leading, and controlling of various business activities, such as financial management, marketing, and operations.
As a field, business administration is broad and can encompass a variety of specialties, such as human resource management, project management, and entrepreneurship. It is a critical aspect of any business, as effective business administration can lead to increased productivity, efficiency, and profitability.
Those who work in business administration often hold leadership roles, such as CEOs, presidents, or vice presidents. They are responsible for making strategic decisions that impact the overall direction of the organization, as well as for overseeing the day-to-day operations and management of the business.
Business administration professionals are essential for the success of any organization, as they play a key role in ensuring that all functions of the business are running smoothly and efficiently. Whether you are a small business owner or an executive at a large corporation, understanding the principles of business administration is crucial for achieving your business goals.
How Can a Business Administration Degree Impact Your Career?
Pursuing a business administration degree can provide a wide range of benefits for those looking to advance their careers in the business world. This type of degree program can equip students with the skills, knowledge, and expertise needed to succeed in a variety of business-related roles and industries.
One of the main benefits of earning a business administration degree is the versatility it offers. With a broad focus on business management and leadership, this degree can prepare students for a wide range of careers in various sectors, including finance, marketing, human resources, and operations.
In addition to providing a strong foundation in business principles, a business administration degree can also help students develop valuable skills such as critical thinking, problem-solving, communication, and teamwork. These skills are highly sought after by employers and can give graduates a competitive edge in the job market.
Earning a business administration degree can also open the door to leadership and management positions. Many businesses and organizations seek out individuals with this type of degree for roles such as managers, supervisors, and executives. This can lead to faster career advancement and higher salaries.
Overall, a business administration degree can be a valuable investment in your future career. It can provide you with a strong foundation in business principles and the skills needed to succeed in a variety of roles and industries.
Where Can I Get a Business Administration Degree?
Business administration degrees are offered at colleges and universities around the world. Some options for obtaining a business administration degree include:
- Traditional four-year colleges and universities: Many colleges and universities offer business administration degrees at the undergraduate and graduate levels. These programs typically require students to complete a set of core business courses, as well as elective courses in a specific area of focus, such as finance, marketing, or management.
- Online programs: Online programs offer the convenience of earning a degree from home, and often have a more flexible schedule than traditional programs. There are many online programs that offer business administration degrees at the undergraduate and graduate levels.
- Community colleges: Community colleges often offer associate’s degrees in business administration, which can be a good option for students who want to complete their degree in a shorter period of time or at a lower cost. These programs typically cover the basics of business operations and management and may be transferable to a four-year college or university.
- Professional certifications: In addition to traditional degree programs, some professional organizations offer business administration certifications, which can be a good option for students who want to specialize in a specific area of business. For example, the Project Management Institute offers a Certified Associate in Project Management (CAPM) certification for professionals who want to advance their careers in project management.
Overall, there are many options for obtaining a business administration degree, and the best choice will depend on your individual needs and goals.
List of 20 Highest-paying Jobs With Business Administration Degree
If you’re considering earning a business administration degree, you might be wondering what kinds of career opportunities it can lead to.
Here is a list of the 20 highest-paying jobs that are often held by professionals with a business administration degree:
- Chief Executive Officer (CEO)
- Chief Financial Officer (CFO)
- Marketing Manager
- Sales Manager
- Financial Manager
- Human Resources Manager
- Operations Manager
- Information Technology (IT) Manager
- Advertising, Promotions, and Marketing Manager
- Public Relations and Fundraising Manager
- Management Consultant
- Project Manager
- Procurement Manager
- Health Services Manager
- Training and Development Manager
- Compensation and Benefits Manager
- Real Estate Manager
- Environmental Manager
- Hotel Manager
- Business Developer Manager.
Top 20 Highest-paying Jobs With Business Administration Degree
Here is a list of the 20 highest-paying jobs that are often held by professionals with a business administration degree:
1. Chief Executive Officer (CEO)
What they do: Oftentimes, the CEO is the highest-ranking executive in a company and is responsible for making major corporate decisions, directing the overall operations and strategy of the organization, and representing the company to investors, the board of directors, and the public.
What they earn:Â The average salary for a CEO is $179,520 per year, according to the Bureau of Labor Statistics (BLS), and job growth is expected to be 6% from 2021 – 2031.
2. Chief Financial Officer (CFO)
What they do: The CFO is responsible for the financial management of a company, including budgeting, financial reporting, and compliance with financial regulations.
What they earn: The average salary for a CFO is $147,530 per year, according to the BLS, and job growth is expected to be 8% from 2019-2029.
3. Marketing Manager
What they do: Marketing managers are responsible for developing and implementing marketing strategies to promote a company’s products or services. This may include market research, advertising, and public relations.
What they earn: The average salary for a marketing manager is $147,240 per year, according to the BLS, and job growth is expected to be 6% from 2019-2029.
4. Sales Manager
What they do: Sales managers are responsible for leading a team of sales representatives and developing strategies to increase sales and revenue.
What they earn: The average salary for a sales manager is $121,060 per year, according to the BLS, and job growth is expected to be 4% from 2019-2029.
5. Financial Manager
What they do: Financial managers are responsible for the financial health of an organization. This may include developing financial reports, creating investment strategies, and ensuring compliance with financial regulations.
What they earn: The average salary for a financial manager is $129,890 per year, according to the BLS, and job growth is expected to be 16% from 2019-2029.
6. Human Resources Manager
What they do: Human resources managers are responsible for the administration of an organization’s human resources programs, including recruitment, training, and employee relations.
What they earn: The average salary for a human resources manager is $116,720 per year, according to the BLS, and job growth is expected to be 6% from 2019-2029.
7. Operations Manager
What they do: Operations managers are responsible for overseeing the day-to-day operations of a company, including production, logistics, and supply chain management.
What they earn: The average salary for an operations manager is $100,780 per year, according to the BLS, and job growth is expected to be 7% from 2019-2029.
8. Information Technology (IT) Manager
What they do: IT managers are responsible for planning, coordinating, and overseeing an organization’s information technology (IT) systems. This may include networking, data management, and cybersecurity.
What they earn: The average salary for an IT manager is $146,360 per year, according to the BLS, and job growth is expected to be 11% from 2019-2029.
9. Advertising, Promotions, and Marketing Manager
What they do: Advertising, promotions, and marketing managers are responsible for planning and coordinating advertising and promotion campaigns for a company.
What they earn: APM Managers typically earn a little above six figures; with Salary.com estimating their annual income to be between $97,600 to $135,000.
10. Public Relations and Fundraising Manager
What they do: Public relations and fundraising managers are responsible for developing and implementing public relations and fundraising strategies for an organization. This may include media relations, event planning, and donor cultivation.
What they earn: The average salary for this job is $116,180 per year, according to the BLS, and job growth is expected to be 7% from 2019-2029.
11. Management Consultant
What they do: Management consultants work with organizations to improve their operations, efficiency, and profitability. This may include conducting market research, analyzing data, and making recommendations for improvement.
What they earn: The average salary for a management consultant is $85,260 per year, according to the BLS, and job growth is expected to be 14% from 2019-2029.
12. Project Manager
What they do: Project managers are responsible for planning, coordinating, and overseeing the completion of specific projects within an organization. This may include setting goals, developing schedules, and managing budgets.
What they earn: The average salary for a project manager is $107,100 per year, according to the BLS, and job growth is expected to be 7% from 2019-2029.
13. Procurement Manager
What they do: Procurement managers are responsible for purchasing goods and services for an organization. This may include evaluating suppliers, negotiating contracts, and managing inventory.
What they earn: The average salary for a procurement manager is $115,750 per year, according to the BLS, and job growth is expected to be 5% from 2019-2029.
14. Health Services Manager
What they do: Health services managers are responsible for the administration of healthcare organizations, including hospitals, clinics, and nursing homes. This may include managing budgets, personnel, and quality assurance.
What they earn: The average salary for a health services manager is $100,980 per year, according to the BLS, and job growth is expected to be 18% from 2019-2029.
15. Training and Development Manager
What they do: Training and development managers are responsible for designing and implementing training programs for an organization’s employees. This may include conducting needs assessments, developing curricula, and evaluating the effectiveness of training programs.
What they earn: The average salary for a training and development manager is $105,830 per year, according to the BLS, and job growth is expected to be 7% from 2019-2029.
16. Compensation and Benefits Manager
What they do: Compensation and benefits managers are responsible for developing and administering an organization’s compensation and benefits programs, including salaries, bonuses, and health insurance.
What they earn: The average salary for a compensation and benefits manager is $119,120 per year, according to the BLS, and job growth is expected to be 6% from 2019-2029.
17. Real Estate Manager
What they do: Real estate managers are responsible for the management of an organization’s real estate holdings, including properties, leases, and contracts.
What they earn: The average salary for a real estate manager is $94,820 per year, according to the BLS, and job growth is expected to be 6% from 2019-2029.
18. Environmental Manager
What they do: Environmental managers are responsible for overseeing an organization’s compliance with environmental regulations and policies. This may include conducting environmental assessments, implementing pollution control measures, and developing sustainability plans.
What they earn: The average salary for an environmental manager is $92,800 per year, according to the BLS, and job growth is expected to be 7% from 2019-2029.
19. Hotel Manager
What they do: Hotel managers are responsible for the day-to-day operations of a hotel, including guest services, housekeeping, and staff management.
What they earn: The average salary for a hotel manager is $53,390 per year, according to the BLS, and job growth is expected to be 8% from 2019-2029.
20. Business Development Manager
What they do: A business development manager is a professional role that is responsible for identifying and pursuing new business opportunities for a company. This can include identifying new markets, developing relationships with potential clients, and working with other departments within the company to create and implement strategies for growth.
The specific responsibilities of a business development manager can vary depending on the industry and size of the company.
What they do:Â The salary range for BDMs usually falls between $113,285 and $150,157, and they are comfortable earners.
FAQs and Answers
What is a degree in business administration?
A degree in business administration is a type of undergraduate or graduate degree program that provides students with a broad understanding of business principles and practices. This may include courses in finance, marketing, operations, and management.
What can I do with a degree in business administration?
A degree in business administration can open up a wide range of career opportunities in fields such as finance, marketing, operations, and management. Some of the highest-paying jobs in this field include CEO, CFO, marketing manager, and sales manager.
What are the highest-paying jobs with a business administration degree?
The highest-paying jobs with a business administration degree include CEO, CFO, marketing manager, and sales manager, with average salaries ranging from $183,270 to $147,240 per year. Other high-paying jobs in this field include financial manager, human resources manager, operations manager, and IT manager.
How can I get a job with a degree in business administration?
To get a job with a degree in business administration, you will need to develop a strong resume and cover letter, and network with professionals in your field. You may also want to consider internships or entry-level positions to gain experience and build your professional network. Additionally, many employers value practical experience, so consider taking on leadership roles in clubs or organizations, or completing relevant projects or case studies.
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Wrapping It Up
In conclusion, a degree in business administration can open up a wide range of career opportunities and provide a strong foundation for success in the business world. The highest-paying jobs in this field include CEO, CFO, marketing manager, and sales manager, with average salaries ranging from $183,270 to $147,240 per year. Other high-paying jobs in this field include financial manager, human resources manager, operations manager, and IT manager.