The world of business is a cutthroat yet highly dynamic and exciting domain. It can provide lucrative and fulfilling career paths to anyone with a passion for making it big in the field. If you have similar aspirations, then this is a great time to join the sector.
And a good way to do that is by getting a Business Management degree. It will equip you with the knowledge, skills, and expertise needed to succeed in business. You will also be able to seek employment in different areas based on your multi-faceted education and exposure.
Financial Management is one of the most attractive fields within the business world. The US Bureau of Labor Statistics expects jobs for Financial Managers in the country to increase by a whopping 16% from 2018 to 2028. This will result in the creation of almost 105,000 new vacancies.
Hence, if you want to become a successful business professional, keep on reading. You will find valuable information about top-notch Business Management degrees and popular career paths in the United States.
What Is Business Management?
Business Management is the study of everything that makes a business tick. It covers areas like Accounting, Finance, Marketing, Human Resources, Project Management, Operations Management, Administration, Logistics, Risk Management, Corporate Strategy, etc. Students in a business management degree program are taught how to plan, organize, lead and control the activities of a company so that established goals can be achieved.
What Can You Do With a Business Management Degree?
After getting a Business Management degree, you can look for jobs in different fields. Popular occupations for business graduates include Advertising and Marketing Manager, Human Resource Specialist, Project Manager, General, and Operations Manager, Finance Manager, Market Research Analyst, Procurement Manager, Merchandiser, Logistics Manager, Construction Manager, Corporate Consultant, Customer Service Manager, Public Relations Executive, Communications Specialist, etc.
Details about salary and career outlook for some of these roles have been provided below. All of the information has been obtained from up-to-date records of the US Bureau of Labor Statistics.
Advertising, Promotions and Marketing Managers
Advertising and Promotions Managers make plans to attract customers towards a product/service. They usually work in collaboration with sales personnel, art directors, market research analysts, and finance executives.
| Annual Median Salary, 2019 | $125,510 | |
| Job Outlook, 2018-2028 | 3% | |
| Annual Mean Salary, 2019 | $141,890 | |
| State with the Highest Employment Level, 2019 | New York | 7,840 |
| State with the Highest Salary, 2019 | New York | $184,920 |
Financial Managers
Financial Managers are responsible for managing the revenue streams, expenses, and investments of a company. They make investment plans, prepare financial statements, set long-term turnover targets, and devise strategies to achieve organizational goals.
| Annual Median Salary, 2019 | $129,890 | |
| Job Outlook, 2018-2028 | 16% | |
| Annual Mean Salary, 2019 | $147,530 | |
| State with the Highest Employment Level, 2019 | California | 92,060 |
| State with the Highest Salary, 2019 | New York | $210,240 |
Compensation and Benefits Managers
Compensation and Benefits Managers are responsible for planning, developing, and executing employee payment plans within an organization.
| Annual Median Salary, 2019 | $122,270 | |
| Job Outlook, 2018-2028 | 3% | |
| Annual Mean Salary, 2019 | $134,210 | |
| State with the Highest Employment Level, 2019 | New York | 1,550 |
| State with the Highest Salary, 2019 | New Jersey | $188,710 |
What to Expect from a Business Management Degree?
While enrolled in a Business Management degree, you will learn about Management Basics, Entrepreneurship, Accounting and Finance, Sales and Marketing, Advertising, Corporate Law, Human Resource Management, Project Planning and Management, E-commerce, Business Communication, Research Methodology, Consumer Behavior, Risk Management, Production and Operations Management, IT in Business, Public Relations, etc.
How to Choose a Business Management Degree Program?
While selecting a Business Management degree to pursue, the most important thing to consider is the accreditation status of the program. Apart from that, you need to look at the fee structure, curriculum, available majors, research opportunities, campus location, residential facilities (on-campus and off-campus), future employment prospects, etc.
Business Management Admission Requirements
Based on degree level as well as the criteria set forth by a particular school, entry requirements tend to vary. For example, joining a Bachelor’s program such as BBA (Bachelor of Business Administration) will require you to complete a High School Diploma or GED (General Educational Development) Certificate at least.
Most schools consider ACT (American College Testing) or SAT (Scholastic Aptitude Test) scores for undergraduate admissions. So, you will need to do well on these assessments too. On the other hand, getting into a Master’s program such as MBA (Master of Business Administration) usually entails taking the GMAT (Graduate Management Admission Test). Most schools also have a minimum requirement with regard to the Bachelor’s GPA (Grade Point Average).