Business Administration is one of the most famous university majors in the world. According to the US National Center for Education Statistics (NCES), 19% of bachelor's degrees awarded by US universities in the 2017-2018 academic year were in business administration; So you may be wondering what jobs a lot of business students might be looking for.
In fact, business management is a broad field, and this is one of the reasons why so many people turn to it; If you're planning a career in this field, know that there are a number of jobs that depend on your major, including finance, insurance, sales and marketing, human resources, and technology.
Says Arcadiusz Mironko, professor of management at the Indiana University School of Business and Economics, who advises hundreds of students to advance their careers in the field. Business administration specializes in doing this, as people with degrees master how to run the businesses they desire.”
The most important skills possessed by business administration graduates:
As a business student, you may have focused on a specific area such as information systems or management, or you may have majored in one of these areas in business school, and you may have acquired some soft and hard skills related to that major, but regardless of your major, it is likely Have also acquired some applicable core skills and the ability to add value to employers across various industries in all types of businesses.
Professional coach (Nadia Ibrahim Tani), MBA and lecturer at Carl H. Lindner School of Business, says that one of these skills is flexible enough; With a diverse curriculum, the Business School teaches you how to run a business and how to pursue lifelong learning; This makes you flexible enough to adapt to any corporate environment. The technology you learn in college may not have been around for 40 years, but the ability to learn new things quickly will add value to your entire career.
In addition, the communication and interpersonal skills you acquire are essential for any future job or career. As Nadia says, “Good business schools combine technical and human skills.” During classes, you may learn business principles, how to collaborate with others, the best ways for oral and written communication, and how to give presentations on a variety of topics.
Analytical skills, including critical thinking and problem-solving skills, are at the core of most business management approaches; So you can apply what you learned in college about how to evaluate a lot of information (quantitative and qualitative) and use it to draw conclusions and solve problems whether you're analyzing business or investments, writing case studies, or creating business plans.
Here are 9 careers you should consider if you are a business major; Most do not require a Master of Business Administration (MBA) degree, and you can also visit the Payscale website to learn more about salaries for each job, bearing in mind that the Payscale database is updated regularly.
Average salary: $51,640 annually.
Accountants don't just collect taxes; They can also prepare, analyze and maintain financial records for companies or individuals, advise companies on cost cutting or other financial decisions, and manage the money going in and out of the company.
Accountants can also work for an accounting firm that has external clients (either individuals or organizations), or work remotely for any type of organization in any industry.
An accountant must have extensive knowledge of financial and accounting transactions, meticulous attention to detail, a high ability to solve problems, and a talent for communicating complex financial issues to a group of people, as all these skills are common to all business professionals.
Accountants do not need a certificate to start working in this field, but having a certificate provides better employment opportunities.
2 . Financial Analyst:
Average salary: $61,530 annually.
A financial analyst provides guidance to companies and individuals on investment and budgeting decisions, analyzes the performance of investments or different parts of a company's business, and evaluates financial statements.
A financial analyst usually works in financial institutions such as banks and investment companies to evaluate companies, individuals or foreign investments, or you can be a financial analyst for companies and work remotely in analyzing their financial affairs; All companies need this role, regardless of their size and market capitalization.
A financial analyst must have strong analytical skills, effective communication skills and be a fast learner so that he can master all the new things within a short period of time.
Business students can excel at this job in all of their majors, but finance majors will help you more than most in getting competitive positions in the field.
On the other hand, receiving practical training during your studies helps you to know the nature of the organizations in which you want to work; It should be noted here that you must be prepared to work long hours under pressure if you choose this position, especially if you work in a financial institution; Knowing that the salary is usually high compared to other jobs.
3. Insurance Agent:
Average salary: $57,884 per year.
Nadia says that every company and building he encounters must be insured, and to achieve this the insurance agent must evaluate the company, building, car or even the insured person to determine the risks involved in issuing the insurance policy, and then calculate the value of the insurance. The appropriate value of the facility's insurance and the due premiums. I paid for it.
The insurance agent may also need to communicate with potential and existing clients; Hence, this job requires analytical skills, decision making skills, financial and business knowledge, communication skills and interpersonal skills; Which makes this a great job for business school graduates.
Although the number of jobs in this field has decreased due to automated software, many of the people currently working in this field are elderly; So there is a need for fresh graduates and others who are just starting their careers.
In order to advance in this field, it is better to get a higher degree in order to license your business as an insurance agent; However, recent graduates can work on the basis of a Bachelor's degree in Business Administration as a start.
4. HR Specialist:
Average salary: $51,512 annually.
Depending on where they work and the size of the HR team, the work of an HR professional includes the human aspect of each business and may be responsible for hiring, interviewing, hiring new employees, evaluating, arranging and managing benefits for new and existing employees, mediating employee disputes or misconduct, facilitating training, learning and development for employees.
HR professionals must possess effective interpersonal and communication skills, analysis and presentation capabilities, and familiarity with best business practices and compliance standards, making this profession a good choice for business graduates who enjoy interacting with people.
Some organizations may require candidates to obtain a degree in human resource management; As a beginner, you may have to search for a job as an HR assistant before taking on the position of an HR specialist to gain experience and get into this field in practice.
5. Account manager or salesperson:
Average salary: $54,991 per year.
An account manager is a person who brings new business to a company, also known as a salesperson, sales agent or sales engineer, depending on the business owner and the company he works for, he can work for any company that offers products or services in order to reduce the price.
The account manager may be responsible for researching new customers, determining the needs of existing customers, explaining how the company's products or services work, negotiating and closing deals, selling to existing customers and re-signing with them.
This job requires qualities that many business school graduates possess, such as communication skills, the ability to learn a lot about a product or new market requirements, and an account manager must know how to find an explanation for someone spending money on something.
Account managers often take large commissions and bonuses in addition to the base salary; Which means that there are many high paying sales jobs that you have to work your way through; Where candidates can search for a sales representative job or develop a business to start.
6. Marketing Manager:
Average salary: $66,117 per year.
The Marketing Manager plans and implements promotions for the company and its products and services, conducts market research and analyzes current and past campaigns, can work in almost any industry and any type of organization or company, and can work with a marketing agency to manage the needs of a group of clients.
A marketing manager may work in this field in general or specialize in a specific category i.e. focus on one area of marketing such as social media marketing, email, search engine optimization (SEO), paid advertising (SEM), e-commerce, or events.
A marketing manager may also oversee a team of marketers, depending on their seniority in the job, the size of the company they work for, and their marketing budget. People with degrees, especially those who want a career in which they can be creative, can excel in this profession using superior communication, presentation, and analytical skills as well as their ability to adapt and learn quickly.
And junior candidates should seek positions as marketing coordinators, assistants or analysts before they actually become marketing managers.
7. Project manager:
Average salary: $73,495 per year.
The project manager plans, organizes, coordinates and supervises their completion in almost all companies; Therefore, the project manager must be able to communicate and coordinate with multi-tasking teams while keeping stakeholders informed. Thus, communication and interpersonal skills are as essential as other business disciplines.
The project manager must also track progress, analyze results, and allocate and manage the budget. Some knowledge in software development is useful to project managers working in technology companies; Which makes this a good job for business school graduates interested in technology and coding, such as those focusing on information systems.
There is no one way to become a project manager; Project managers may begin their career as project coordinators, assistants or business analysts, or they may start another job in their desired field by overseeing projects such as software engineering or providing IT assistance, and some companies may prefer candidates with a degree in project management .
8. Business Analyst:
Average salary: $57,884 per year.
A business analyst is a person who evaluates and analyzes an organization's practices, operations, opportunities, and related data in order to make recommendations for improving performance, efficiency, or profit. The role of a business analyst varies greatly based on the needs of the industry and companies in which they work.
But regardless of this difference, this job requires many of the skills that business school graduates possess, such as research and analysis skills, the ability to learn about new technologies, markets, and companies, and the ability to communicate with people in different jobs.
Students majoring in business administration may get a job as a junior business analyst, and as they advance in their careers, they may choose to specialize in a specific field such as information technology or data.
9. Management Consultant:
Average salary: $87,810 per year.
A management consultant makes recommendations to companies and organizations to help them solve problems or run their businesses more effectively. It collects information about the company's finances, employees, customers, processes and products, evaluates and analyzes results, comes up with solutions and tells customers.
These tasks match the core skills of business school graduates and offer significant financial rewards, but the hours can be long and entry-level jobs in large companies can be very competitive, and business school graduates may become co-consultants or ANA.