One of the big draws for studying Business and Management is the earning potential that these degrees offer. The promise of sky-high salaries is probably one of the main reasons that the most popular undergraduate majors are in Business and Management! So, let’s take a look at some of the jobs with the best salaries and highest demand.
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Highest Paying Business & Management Jobs
The workers at the top of large organizations are the c-suite executives – so called because their titles start with the letter C. That’s C as in CEO, CFO, and CIO, which stand for chief executive officer, chief financial officer, and chief information officer, respectively.
There are other potential c-suite titles, too – the ones you will encounter may vary based on what field you go into. For example, you might find a chief nursing officer, or CNO, in a large healthcare system, or a chief accounting officer (CAO) in a corporation with a large, complex accounting department.
These jobs can be among the most generously compensated titles in Business and Management. For example, in 2015 the average annual compensation for c-suite executives at Fortune 100 companies was around $7.4 million, plus perks!
Maybe you’re not interested in setting your sights on a c-suite title, but you still want a job that will be very well-compensated. If you can see yourself successfully directing an organization’s sales team, you could have a bright and lucrative career as a sales manager.
You’ll be qualified for this position with a bachelor’s degree in business law, management, economics, accounting, or other business-related major. The median annual salary for sales managers was $117,960 in 2016, and the highest-paid 10 percent earned more than $208,000.
If this sounds interesting to you, there’s good news: the demand for sales managers is likely to remain steady for the next decade. The Bureau of Labor Statistics (BLS) predicts that demand will increase by about 7 percent by 2026.
High-Demand Business & Management Jobs
If you can see yourself advising managers on how to increase profitability and efficiency, working as a management analyst could be a great choice for you. The outlook for this job is strong, with a projected rate of growth of around 12 percent by 2026.
And you’d earn a great salary, too. Management analysts (a.k.a. management consultants), earned a median salary of $81,330 per year in 2016.
To break into this field, you’ll need a bachelor’s degree in a field like business, management, or economics. You could also increase your prospects for advancement by getting the Certified Management Consultant (CMC) credential.
Market Research Analysts
Market research analysts work in one of the fastest-growing careers, according to the BLS, with a projected increase of 23 percent from 2016 to 2026. This rapid growth is due to the fact that most industries are increasingly using market research to evaluate and develop marketing and business strategies.
A bachelor’s degree in market research or a related field like business administration is the entry-level education required for these jobs. And with that degree, market researchers typically earn the median annual wage of $62,560, while the highest 10 percent make more than $121,720 per year.