Business is a versatile field of study that touches every aspects of our lives. Everything around us, from the entertainment we enjoy to the clothes that we wear, is brought to us by business. Because of the far-reaching influence of business organizations, there are many career opportunities for students who pursue a business administration degree.
What is Business Administration?
A business administration degree is a general business degree that covers a broad range of business topics. A study of business administration exposes students to important legal, administrative, and economic concepts that impact business organizations. Business students will study organizational behavior, quantitative tools of analysis, and the principles of leadership in order to understand the business decision-making process.
Business Administration Concentrations
Students can focus on a specific aspect of business by selecting a concentration. Adding an area of specialization may increase a student’s earning potential.
Concentrations offered with a business administration degree include:
An accounting concentration trains students to record an organization’s financial transactions, prepare financial statements, and ensure that an organization is compliant with government regulations. Taking courses in accounting will prepare students for accounting certification exams.
- Computer Information Systems (CIS)
A CIS student studies information technology and learns how the implementation of technology facilitates communications and networking within an organization.
Finance is the study of financial markets and how investors and financial institutions make decisions. A finance concentration provides an overview of both public and corporate finance.
A marketing concentration provides students with the analytical tools to make marketing decisions. Students learn techniques for evaluating consumer markets in order to develop marketing strategies for a firm.
- Real Estate
Housing markets are a major force in the economy. Students who focus on a real estate concentration will be prepared to advise investors and consumers on this very important type of asset.
Business Administration Degree Careers
A degree in business administration prepares graduates to pursue careers in many areas, including entry-level management, financial services, government, and the non-profit industry. A business administration degree also provides students with the foundation they need to put their ideas into action and start their own business.
Business Administration Bachelor’s Degree
Online Bachelor’s programs come in the form of Bachelor of Business Administration degrees. Students need to have home computers with current operating systems and various office software to give them the ability to complete assignments and prepare projects for online presentations. These programs are designed to give students a well-rounded business background while offering courses that are challenging and thought-provoking. A business administration curriculum is designed to teach students to analyze data, manage projects and employees and think outside of the box. Topics covered can include:
- Strategic management
- Management information systems
- Global economics
- Conflict and negotiation resolution
Business Administration Bachelor’s Degree Courses
Leadership skills, problem solving and critical thinking are stressed in Bachelor of Business Administration programs. Some of the courses taken include:
- Business statistics
- Business and the external environment
- Operations management
- Managerial finance
- Business Strategy
- Managerial accounting
- Business Communication
- Financial accounting
Business Administration Bachelor’s Degree Careers
Graduates of this program can seek opportunities in a wide variety of business careers such as:
- Human Resource Managers
- Advertising Executives
- Hedge Fund Managers
- Project Managers
- Small Business Owners
The Bureau of Labor Statistics reports job growth of 16% through 2020 for accountants and related occupations. Average yearly salaries are $62,000.
Job Outlook for Business Administration Majors
The outlook is good for business majors. The Georgetown Public Policy Institute estimates that 90 percent of business majors hold full-time jobs after graduation. The median earnings are $60K for those with business administration degrees.
The Bureau of Labor Statistics identifies top management positions that degree holders can pursue:
- Computer Information Systems (CIS) Managers
With a median salary of $115K, CIS managers help an organization meet its information technology goals by managing and implementing computer systems.
- Advertising, Promotions, and Marketing Managers
With a median salary of $108K, marketing managers promote an organization’s products and services to increase brand recognition and sales.
- Sales Management
With a median salary of $98K, sales managers analyze data to develop sales goals and help an organization boost its sales.
- Compensation and Benefits Management
With a median salary of $89K, a compensation and benefits manager determines the compensation levels and benefits packages for an organization’s employees.
- Medical and Health Services Managers
With a median salary of $84K, health service managers are employed by medical organizations to plan and coordinate services throughout their facilities.
Choosing to Study Business Administration
A business degree prepares students for many lucrative fields and occupations that are expected to grow. A background in the fundamental of business is valued by many organizations, making the business administration degree a great investment.
Bureau of Labor Statistics. (2012). Occupational Outlook Handbook – Management Occupations.
Georgetown Public Policy Institute. (2011). The Economic Value of College Majors – Business.