Business & Management

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No business operates itself. No one person can manage every aspect either.

One excels at sales while another pursues new product development. A genius negotiator may fail at public relations. Contracts can fall through in the hands of an otherwise gifted marketing manager.

In a successful business venture, the entrepreneur finds experts to cover his or her weaker skills. There is a business career for everyone from high school graduates to a PhD. Of course, the most popular graduate-level degree is the MBA.

For that reason, we separated the MBA into its own page. Within the business world, accounting is also a broad field with incredible demand, so we have a separate hub all about accounting.

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Frequently Asked Questions:

Otherwise, feel free to check out our Best Online Business Schools ranking, and to keep reading so you can learn how to make business boom.

What Do Professionals in Business & Management Do?

Being in the business field could mean anything from routing calls to making sales. Some work in public relations while others choose market research. Purchasing managers share the elevator with distribution managers, and a director of human resources chats with the benefits administrator.

A manager keeps the day-to-day business operations running smoothly. They may write departmental procedures, conduct performance evaluations, and train new staff. Some make hiring—and firing—decisions. Managers set budgets, evaluate new technologies, and mentor their employees.

Maybe you have the entrepreneurial spirit and want to try your hand at building the next Facebook. Experience goes a long way, but if you combine that with an entrepreneurship degree, you’ll be well equipped to set off on your own.

However you choose to pursue either business or management, you want to make sure that you’re choosing a career that fits your unique skills. And that you find a school and program that will grow and support those needs in the best way possible.

How Much Money Can You Make If You Study Business & Management?

The only limit is one’s own ambition and willingness to work hard. The Bureau of Labor Statistics (BLS) states that management careers had a median income of $100,790 in 2016.

The fastest growing career may be the Market Research Analyst. BLS predicts a 19 percent growth in demand for these analysts by 2024. That equals 92,300 newly created job openings in the next seven years.

A solid entry-level position is the Customer Service Representative. An additional 252,900 positions will boost this field by 10 percent. Currently the greatest number of jobs per 1,000 residents in this field can be found in Arizona, Utah, or Florida.

The highest salaries for Customer Service Representatives can be found in the District of Columbia, Massachusetts, and Connecticut. And balancing out with cost-of-living, Minnesota, Indiana, and Kansas offer the best ratios of median salaries and living costs.

But there are a whole host of exciting jobs available in the business field, many of which are slated to see quite a bit of job growth in the coming decade.

Public Relations Management, Managers of Training and Development, Benefits and Compensation Managers, and Sales Managers are all expected to see more than 6% growth in their job markets in the coming years.

Work hard enough, and you could end up with a corner office and a big “C” in your job title. Doing this would also put another comma in your bank account.

Within the top hierarchy of a large corporation, the Chief Administrative Executive, for example, takes home a median of $332,681. He or she needs 15 or more years of experience along with a Bachelor’s or Master’s degree.

Other “C-suite” positions can expect similar levels of compensation.

Ultimately, the fate of the business rests on the shoulders of the Chief Executive Officer. The CEO is the head of the company. He or she takes full responsibility for profits and losses.

The CEO’s hours are long, the stress enormous, and his/her reputation rests on the success or failure of the company. Because of the gravity of the position, a CEO’s median pay without bonuses equals $760,669. The head of a corporation usually holds a Bachelor’s or Master’s degree.

What Kinds of Business & Management Degrees Are Available?

If you are just starting your career and you don’t have a degree, an entry level Administrative Assistant only requires a high school diploma or business certificate. Administrative Assistants at Level I earn a median of $39,035. That would help pay for night college classes if desired.

Your business career can start with an Associate’s Degree. Associate’s programs last between 18-24 months, and have a curriculum that focuses on business specialty, such as customer service or retail sales work. These degree programs can lead to jobs as retail workers or even store managers. Store managers earn a median salary of around $39,040.

The next step up the ladder would be a Bachelor’s Degree. Choosing an undergraduate programming starts with choosing your major and concentrations. College Choice has ranked the Best Online Bachelor’s in Administration Degrees.

Deciding which one to pursue is a question of what part of business and management you’re most interested in, as well as the options available at the schools you’re considering.

Like most Bachelor’s programs, you’ll take a string of introductory courses focused on general knowledge, before then advancing on to upper-level courses concerning your major and concentration. Graduating with your bachelor’s enables you to pursue most entry-level jobs in the business world.

If you’re ready to take the next step and get your Master’s Degree, the first thing most people consider is a Master’s in Business Administration (MBA). It’s so popular, in fact, that we’ve put together an entire page on it here.

However, there are Master’s degrees other than the MBA. These include a Master in Management, Marketing, International Business, or Finance.

A Master’s in Management will lead you to upper-level managerial roles, while a finance degree might lend to a career in investment or commercial banking. Financial examiners, for instance, earn a median salary of around $79,000.

At the doctoral level, you could get a PhD in Business Administration, or the closely related Doctorate in Business Administration. College Choice has conveniently ranked the Best Online Doctorate’s in Business Administration Degrees. The former would lead to an academic career as a professor or researcher. The DBA, on the other hand, helps propel graduates to the highest senior executive levels in a corporation.

What Business & Management Specialties Are Available?

Within a business environment, there may be dozens or even hundreds of employment options not even mentioned yet. Here are just a few:

Business majors might choose to pursue a career as an Economist. Economists conduct research, collect and analyze data, and develop forecasts regarding economic indicators. Economists can choose to focus on the microeconomics of a particular sector, or the macroeconomics of the broader economy. Economists earn a median salary of just over $100,000.

Another possible specialization could be Global Sales Manager. These managers oversee sales efforts by corporations looking to conduct business in the international marketplace. Managers may supervise a team of salespeople or recruit new clients. Sales managers earn a median salary of around $118,000.

But it’s not all about the numbers. Those with strong written skills might consider a career as a Technical Writer.

These writers prepare instructional guides and journal articles that communicate complex, technical information to a wider audience. On average, technical writers earn an average of just under $70,000.

Other specialties include: video editor, business intelligence, entertainment manager, sports manager, organizational leadership, social media manager, business consultant, community liaison, import/export manager, corporate real estate broker, and business attorney.

We barely touched on the realm of international business. International corporations and government agencies want highly skilled business professionals to represent them overseas. Choose a Bachelor’s in International Business and master a foreign language.

Prepare for an exciting life experience as an international finance manager, cultural adviser, export sales representative, international trade specialist, or international economist. The growing global nature of business may take you on amazing adventures. The future awaits.

 
 

What are the best Business and Management degrees?


  • Accounting


    Because Accounting is such a diverse and in-demand field, we’ve put together an entire page devoted exclusively to Accounting.

  • MBA


    The MBA is the most common graduate-level degree in America. Because of this, we have an entire page devoted exclusively to the different MBA options available.

  • Marketing


  • Management Information Systems


  • Finance


  • Economics


  • Human Resources


  • Project Management


  • Organizational Leadership


  • Public Relations


  • Internet Marketing


  • Entrepreneurship


  • Hospitality Management


  • Non-Profit Management


  • Sports Management


  • Supply Chain & Logistics


  • Real Estate


  • Entertainment Management


  • Risk Management


  • International Business


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