Business administration degrees are immensely popular. According to the National Center for Educational Statistics, 12% of all associates degrees and 19% of all bachelor degrees in academic year 2016-17 were business degrees.
Why are business degrees such a large percentage of all postsecondary degrees?
No matter what changes happen in the economy year to year, a fundamental understanding of business management never goes out of style. The foundational education of how to successfully manage a business is a valuable role that many companies need to hire for.
What is Business Administration All About?
Every business, whether it is a large corporation or small business, needs people in place to oversee operations, provide leadership and business management, and make sure the business is running smoothly.
Business administrators may also manage other critical aspects of the business, such as finance, marketing, accounting, project management, or human resources.
When a business is small, the founder may function as the business administrator. As the organization grows, another person will need to fill that role of business administration and operations management.
A degree in business administration will prepare you to manage and oversee the functional operations of a business. Business administration programs allow the student to learn how different departments function within an organization. Most business administration degrees include curriculum on finance, accounting, marketing, human resources, entrepreneurship, and economics.
What Does a Business Administrator Do?
A business administrator or manager may have several duties, but these are common responsibilities and tasks that the administrator may do regularly.
- Establish and carry out organizational goals
- Staffing, including recruiting and appointing leadership positions
- Make sure company reaches financial goals, oversee budget
- Recognize and pursue new business opportunities
- Represent organization in professional settings and networking opportunities
- Manage production and everyday operations
- Financial analysis and oversight
- Business analysis, including revenue generation and cost cutting
- Work with internal departments, such as legal, finance, human resources, marketing, project management, etc.
- Guide ethical direction and international relationships
Popular Occupations in Business Administration
There are numerous career opportunities for those who hold a Business Administration degree. We look at a few of them below.
Bookkeeper / Accounting Operations
If you have an online business administration degree, a career as a bookkeeper is a great choice. Accountants and auditors prepare financial records, file taxes, and give financial guidance. According to the Bureau of Labor Statistics, the job growth for bookkeepers and accounting operations will be about 7% for the years 2020 to 2030. Note: The data provided above are from a source unaffiliated with MTI College, are for informational purposes only and represent the employment field as a whole. They are not solely specific to MTI graduates and, by providing the above information, MTI makes no representation, direct or implied, or opinion regarding employability.
If this sounds like a career path that interests you, MTI College offers a degree program for Business Administration with a Concentration in Accounting.
Human Resources Specialists/Managers
A human resource manager is responsible for being a bridge between workers and senior management. Duties may include recruiting new staff, distribution of workplace benefits, or sometimes overseeing payroll. Interpersonal skills are an asset for this career. Projected job growth for human resource specialists is about 5% for 2018-2028. Job openings for human resource managers is projected to grow by 7% over that same time frame.
Marketing Account Manager
Account managers in marketing and advertising firms are responsible for managing promotional campaigns for clients. This job may be from a regional or corporate office. The account executive may oversee the budget, advertising team, or present campaign ideas. The biggest responsibility is making sure each client is getting results and are satisfied with the services they are receiving. Job growth for account executives is projected to grow 8% between 2018 and 2028, which is faster than average.
Healthcare and Medical Management
There is a particular need for healthcare and medical management. This job description is projected to grow by a whopping 18% from 2018 to 2018. Some work experience is usually required to advance to a leadership position, but a degree is usually also required. Medical managers oversee the operations and business activities of a medical facility or department. If you are interested in this rapidly growing career, MTI College offers a degree program in Business Administration with a Concentration in Medical Billing and Coding.
Job growth for management analysts is projected to be 14% from 2018 to 2028, much faster than average. Management analysts figure out ways to improve the efficiency of an organization. This often involves making recommendations on how to improve profits or reduce expenses. A degree in Business Administration is often a prerequisite to becoming a management analyst.
Financial Examiners and Analysts
The main role of a financial examiner is to determine how healthy a business is. This objective is accomplished by reviewing balance sheets, ledgers, financial documents, and other accounts. Financial examiners are often checking for state and federal compliance with tax and finance laws. Some work is preventative, making sure the company doesn’t run into financial problems.
Most financial examiners work for government agencies, insurance companies, or financial institutions. Job growth for financial examiners is projected to be about 7% from 2018 to 2028, faster than average. To prepare for this career path, MTI College offers a Business Administration with a Concentration in Accounting degree program.
Market Research Analysts
Market research analysts work full time during business hours, determining whether a product is viable for a given market. These analysts also examine the sales campaigns of a company. Market analysts may conduct market research and customer surveys to gather data. Mathematics and analytical skills are assets in this position. Job growth for market research analysts is projected to be 20% between 2018 and 2028, much faster than average. This is one of the fastest growing careers in business administration.
Popular Business Administration Career Paths
An associate degree is often a prerequisite for introductory jobs in business administration. Pursuing further education can lead to leadership opportunities. C-level positions (CEO, CFO, COO, CMO) may require a combination of experience in management and undergraduate/graduate degrees.
Starting on the path to management opens the door to executive management and then senior management positions.
Job Outlook for Business Administrators
According to the Bureau of Labor Statistics, the number of jobs for administrative services managers will grow by 7% for the period from 2018 to 2018, which is faster than average.
There are also many other high-paying business careers that can be gained with a Business Administration degree.
The Bureau of Labor Statistics shows that Administrative Service Managers earn more than the median of all jobs in the US. This link shows average salaries for Business Administration jobs currently listed on Glassdoor (also above the median for all jobs).
What Education Will I Need to Pursue a Business Administration Career?
There are many different levels of business administration degrees that you can pursue, all the way up to a PhD. However, most business management jobs will require at least an Associate Degree to hire a candidate.
Take the Next Step
If pursuing a career in business administration or management sounds like something you want to do, contact an admissions representative for more information. The Business Administration Degree Program from MTI College provides the tools and knowledge for students to confidently pursue a career in general business administration.