One of the most versatile degrees you can obtain is a business administration degree. It may be because almost all forms of human endeavor involve business. Manufacturing, selling goods, or providing a service are all forms of business. Because of this, a degree in business administration can lead to some of the most exciting and financially rewarding careers. Here are 10 of the most in demand careers in business administration:
1. Market Research Analyst
Market Research Analysts do a lot of research to determine what products and features a company’s client wants. The result of their research help companies implement product improvement, develop new products, and make adjustments to their marketing strategies to improve sales performance. The US Bureau of Statistics (BLS) estimates a 41% increase in the demand for market research analysts through 2020. They earned an average of $67,130 per year in 2011.
2. Human Resources Specialist
Human Resources Specialists recruit, interview and place workers. They manage employee relations, compensation, benefits and training. They deal with labor agencies and labor unions if there are any. Part of their work involves implementing company rules and imposing disciplinary measures. While there are companies, there will always be a need for HR Specialists. Median pay in 2012 is $55,640 per year
Bookkeepers record sales and expenses for small businesses. In large companies, they assist and work under the supervision of accountants in the recording of transactions, as well as, in the preparation of financial reports. The US News and World Report estimates there will be a need for 259,000 more bookkeepers within the next ten years. Bookkeepers received an average annual salary of $35,170 in 2012.
4. Marketing Manager
Marketing Managers develop marketing strategies, and direct its implementation to ensure they increase the demand for the product or services that their company offers, and client satisfaction. In the course of their work, they even adjust pricing to counter marketing strategies of competitors. This is one of the most financially rewarding careers in business administration. Marketing managers earned an average annual salary of $126,190 in 2011.
5. Personal Financial Advisors
Personal Financial Advisors assist people make decisions about investments in stocks, bonds, mutual funds and insurance. A bachelor’s degree in business administration or any other business, finance or economics related degree is the usual requirement. The demand for Personal Financial Advisors is expected to grow 27% through 2022. In 2012, Personal Financial advisors earned an average of $67,520 in annual salaries.
6. Compliance Officer
Compliance Officers are tasked with ensuring that companies and top executives meet the requirements of various laws, codes, ethics or regulations that apply to them. In the course of their duties they examine, evaluate and investigate to ensure conformity with the laws that control the issuance of permits and licenses. They perform all activities to guarantee compliance with all applicable local and national laws. The BLS estimates a demand growth of 15% for 2020. Average annual salary of compliance officers is estimated at $63,760.
7. Top Executive
Top Executives are responsible for drafting strategies and policies that allow an organization to meet its goals. They come up with and coordinate execution of plans, as well as, direct day to day operations of a business. The highest of the top executives is the Chief Executive, who is responsible for the performance of the entire company. BLS estimates the mean annual salary of top executives at $101,650 per year.
8. Management Analyst
Management Analysts help companies improve efficiency and reduce costs. They collect and analyze data, including financial reports, determine the source of problems that hinder efficiency, and propose solutions. BSL estimates job demand growth at 22% towards the year 2020. The annual salary of a management analyst was $78,600 in 2012.
9. Business Development Manager
Business Development Managers are tasked with improving existing revenue streams, as well as, developing new ones to meet an organization’s revenue goal. A keen eye for opportunities and good public relation skills is essential to this post whose main goals are to retain current clients and develop new markets. A better than average business sense mindful of competitor’s moves is very helpful. Typical mean annual salary is $82,500.
10. General and Operations Managers
General and Operations Managers plan, direct, and coordinate the cay-to-day operations of their organizations. They also formulate policies, and plan and execute the proper use of the organization’s resources to meet stated goals. The mean annual salary is estimated at $116,090.
With the wide choice of careers in business administration, more people should be aiming for business administration degrees. Why not inquire at a nearby business college now?