For young people desirous of joining the ultra-competitive world of business, it might be a good idea to arm themselves with an Applied Management degree. It will provide excellent exposure to the different facets of business and enable graduates to pursue work in different areas.
In the years to come, the US Bureau of Labor Statistics expects significant growth in many professions related to applied business management. For instance, jobs for Administrative Services Managers are projected to increase by 7% from 2018 to 2028. This will add nearly 22,000 new jobs in the field.
If you believe that your career interests will be best served by getting an Applied Management degree, then this piece is for you. Other than learning about degree programs of great repute, you will also find out which occupations are the most attractive in this sector.
What Is Applied Management?
Applied Management is the branch of business education that studies existing management practices with the aim of streamlining or improving them. Restructuring the chain of command, implementing a new decision-making approach, and initiating a change of company policies are some examples of applied management concepts put into practice.
What Can You Do With an Applied Management Degree?
An Applied Management degree can help you work as an Administrative and Facilities Manager, Sales Representative/Agent, Logistics Manager, Marketing Executive/Manager, Supply Chain Executive/Manager, Accounts Executive/Manager, Operations Research Analyst, Operations Manager, Customer Service Executive, Human Resources Executive/Manager, etc.
Information about salary and career outlook for some of these professions, as reported by the US Bureau of Labor Statistics, is provided below.
Administrative Services and Facilities Managers
Administrative Services Managers are responsible for planning, directing, and coordinating the day-to-day activities of an organization. On the other hand, Facilities Managers ensure the timely provision of support services to an organization.
| Annual Median Salary, 2019 | $96,940 | |
| Job Outlook, 2018-2028 | 7% | |
| Annual Mean Salary, 2019 | $106,550 | |
| State with the Highest Employment Level, 2019 | California | 41,650 |
| State with the Highest Salary, 2019 | New York | $138,190 (Annual Mean Wage) |
Advertising Sales Agentss
Advertising Sales Agents sell advertising space to businesses as well as individual clients. They generate sales leads, make presentations, close leads, and manage client accounts.
| Annual Median Salary, 2019 | $53,310 | |
| Job Outlook, 2018-2028 | -2% (Decline) | |
| Annual Mean Salary, 2019 | $64,660 | |
| State with the Highest Employment Level, 2019 | New York | 21,030 |
| State with the Highest Salary, 2019 | New Jersey | $89,090 (Annual Mean Wage) |
Lodging Managers
Lodging Managers are responsible for making the stay of customers in a hotel or motel comfortable and pleasurable. They keep the affairs of any establishment offering accommodation efficient and effective.
| Annual Median Salary, 2019 | $54,430 | |
| Job Outlook, 2018-2028 | 1% | |
| Annual Mean Salary, 2019 | $63,570 | |
| State with the Highest Employment Level, 2019 | California | 4,290 |
| State with the Highest Salary, 2019 | District of Columbia | $116,600 (Annual Mean Wage) |
What to Expect from an Applied Management Degree?
An Applied Management degree will teach you about Management Theory and Practices, Economic Systems, Accounting Principles, Financial Management, Fundamental and Advanced Marketing, Consumer Behavior, Human Resource Management, Entrepreneurship, Project Management, Organizational Change Management, IT in Business, Supply Chain Management, Business Ethics, Corporate Strategy, Business Law, etc.
How to Choose an Applied Management Degree Program?
There are some factors that you must consider before deciding on an Applied Management degree program. The most vital among them is the accreditation status of a particular program. Other than that, your decision must also be based on curriculum, program cost, research opportunities, available majors, campus location and ease of commute, hostel facilities (for schools located out of town/city/state), career outlook, etc.
Applied Management Admission Requirements
Different degree levels and educational institutions have varying eligibility criteria. For admission to a Bachelor’s program in the field, you will most probably need a High School Diploma or GED (General Educational Development) Certificate. You may also need a good enough score on the SAT (Scholastic Aptitude Test) or the ACT (American College Testing).
In contrast, admission to an MBA program with a concentration in Applied Management will be dependent on your GMAT (Graduate Management Admission Test) score and possibly your Bachelor’s GPA.