Students typically have many questions and concerns when it comes to choosing the right degree. And that makes sense. Indeed, obtaining a degree requires a significant commitment of one’s time, money, and effort. For instance, students can wonder if the degree they intend to pursue is the right choice. Would the degree enable them to achieve their academic and professional objectives? Or will it create chances for career progression after completion?
Do you also believe that you are in a similar predicament? If you are pursuing a business management degree in that case, there is no need for concern. The reason? Business majors are among the most sought-after of all other majors. Regardless of industry or size, all businesses must adhere to certain principles to grow and prosper. So, those with a business degree could considerably help firms achieve their objectives.
A business management degree can open doors to many fascinating and fulfilling employment opportunities. So without further ado, let’s have a look:
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1. HR Manager
Any individual who has worked for a firm, even a small organization, has probably had some contact with HR. Employers of all sizes and across all industries require human resources managers. People management is a crucial component of every business, and nothing screams people management like human resources. As the name implies, the recruiting, firing, payroll, governance, training, and promotion of employees are all under the control of human resource management.
Your typical job responsibilities as an HR manager can include the following:
- Create and implement efficient recruitment strategies to draw in and retain skilled workers
- Identify training needs, create training plans, and offer staff training
- Manage the salary and benefits plans for the company
- Monitor claims of misconduct and resolve conflicts
Consider enrolling in an online MBA management program if you wish to pursue a career path with sky-high earning potential. The degree will equip its students with in-depth knowledge of core business functions and also aids them in honing excellent decision-making and leadership skills. Moreover, the best part about this degree program is its online format which gives working professionals more freedom and convenience to fit it into their hectic lifestyle.
According to the BLS, a human resources manager’s average annual salary is $126,230. Furthermore, this industry would see faster job growth than any other, at 7%.
2. Financial Analyst
Do you possess strong analytical skills and enjoy digging deep into data? Then, pursuing a career as a financial analyst might be your call.
Financial analysts ensure that the business continues to be financially sustainable by using their expertise in finance and analytical skills. In addition, these experts help the company make decisions on raising capital and increasing profitability. So, you must have outstanding leadership, presentation, time management, and communication skills to excel in your career.
On a given day, your day-to-day job responsibilities as a financial analyst can include the following:
- Use forecasting tools and financial models to examine and project future financial performance
- Assess investment portfolios and offer suggestions for improvement
- Generate financial reports and presentations for senior executives, investors, and other stakeholders to help them make well-informed decisions
- Present innovative and cost-cutting solutions
According to the Bureau of Labor Statistics (BLS), you can expect a median salary of $95,570 per year, and the job outlook would grow by 9% from 2021 to 2031.
3. Management Consultant
If you genuinely like to solve problems and are passionate about assisting organizations to become more efficient, the management consultant position might be ideal for you.
The primary responsibility of management consultants is to assist firms in resolving problems, generating value, maximizing growth, and enhancing operational efficiency. Therefore, your primary focus areas will be the business’s operations, strategy, management, and structure. However, you must possess strong organizational, creative thinking, and analytical skills to qualify for this job.
Your daily job duties can include the following:
- Collect and examine data using different methods, including surveys, interviews, etc., to spot issues or areas for improvement within an organization
- Make suggestions to improve operations, boost efficiency, or accomplish other objectives based on analysis
- Create business proposals and presentations
- To ensure that the suggested improvements are being implemented, have a discussion, offer feedback, and follow up with management
According to Payscale, the average yearly salary of a management consultant is $92,301 per year.
4. Sales Manager
Meeting revenue goals and earning a profit in the business world might feel like stumbling through a maze while wearing blinders. And that is where the sales manager’s job becomes essential.
A sales manager directs, oversees, and manages sales representatives and a company’s daily sales operations. The primary duties include managing the sales strategy, establishing sales goals, and monitoring revenue growth. To be a professional sales manager, you should possess excellent analytical skills, superb leadership qualities, and outstanding customer service skills.
Below are some of the job duties of a sales manager:
- Develop and execute sales tactics that are in line with the overall company goals
- Recruit new sales representatives and educate them about the company’s goods, services, and sales procedures
- Provide recommendations to top management after analyzing sales data to spot trends and opportunities for development
- Collaborate with other departments to make sure that their sales strategies and objectives are in line with those of marketing, product development, and customer support
Sales managers may anticipate an average annual wage of $127,490 and job growth of 5% from 2021 to 2031.
5. Project Manager
As the title indicates, project managers are in charge of a project from the beginning to the end, ensuring that the job is completed effectively and appropriately. These professionals plan, direct, and coordinate business initiatives. In addition, you will be responsible for overseeing teams, setting up meetings, resolving issues, and tracking small victories and milestones. Furthermore, you must develop and polish time management, budgeting, communication, and organizational skills to take your career to the next level.
Typical job duties of a project manager can include the following:
- Create and maintain a project plan that specifies the goals, timeframes, resources, and scope needed to finish a project successfully
- Track expenditures, keeping an eye on them, and oversee the project’s budget to make sure it stays within the budget allotted
- Design backup plans, identify potential risks that could affect the project, and manage those risks to reduce their impact
Payscale estimates the average wage of project managers is $77,736 per year.
Undeniably, the job market is uncertain in today’s economy. Nonetheless, having a business degree increases your chances of finding a stable job. So, no matter where you are in your career, earning a business degree will, without a doubt, benefit you in several ways.
A business management degree can lead to various employment opportunities in industries as diverse as marketing, sales, human resources, finance, and operations. The best thing about a business management degree is it equips its students with various skills that can be useful in every sector. So what is holding you back? In today’s fast-paced and cutthroat job market, determine your skills and interest, explore different options, seize opportunities, and continue to study to stay ahead of the curve.
Alex is fascinated with “understanding” people. It’s actually what drives everything he does. He believes in a thoughtful exploration of how you shape your thoughts, experience of the world.