Out of the various career options available for the students, business administration degrees & programs are among the popular ones. With such a degree in hand, you have the potential to take up any career ranging from the manufacturing industry to consulting. To know all about the prerequisites to seeking admission in a business administration master’s program, go through the guide. Here is a brief guide on the top business administration degree & programs to choose from.
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Why Pursue a Business Administration Career?
If you’re an individual who thinks analytically, leads teams, and performs researches, seeking a degree in business administration is ideal for you. Since any organization or company requires business professionals, getting a degree increases your scope to get selected. The students pursuing a business administration program get to acquire professional skills such as planning, to organize, lead, and develop many problem-solving skills. Other prime skills are analytical, communication, etc.
Business Administration Career Outlook
There are a plethora of career options available for business administration majors. The majors help companies and organizations to meet their financial goals. According to the Bureau of Labor Statistics, the median salaries of individuals with these careers range from $50,000 – $90,000 per year. By another report from BLS, the employment for the business administration majors will grow by 7% from 2018-2028.
Degrees & Programs in Business Administration
According to the BLS, most of the business administration careers require the candidates to possess a bachelor’s degree. Here are the series of degrees that you have to possess for securing a good career option in the same.
Bachelor’s Degree in Business Administration
BBA graduates acquire a broad and in-demand skill set that applies to finance, technology, healthcare, and other significant fields. The degree gives room for the students to attain versatility and mobility. During the BBA program, the students tend to develop the basic knowledge of changing markets and technologies in the dynamic economic set-up. It also serves as an entry-level education requirement for plenty of business management and administration careers.
Career Options After BBA
On attaining a BBA degree, the majors can go for various career options such as:-
- Accountant and auditor
- Budget Analyst
- Cost estimator
- Human resource specialist
- Logistician
According to the Bureau of Labor Statistics, “the annual average median salary of accountants and auditors is $71,550.”
Master’s Degree in Business Administration
To understand the basics of how businesses operate, the students have to earn a professional business degree, also known as MBA. It gives an insight into how to lead and manage. According to a recent survey by the National Center For Education Statistics, most master’s degrees in business, outpace education by more than 25%. MBA helps the students in advancing their career professionally.
Career Options After MBA
Seeking a professional master’s degree in Business administration, the majors can seek a career as a:-
- I.T. manager
- Financial Manager
- Industrial production manager
- Management analyst
- Top-executive
According to the Bureau of Labor Statistics, “the annual average median salary of computer and information systems manager is $146, 360.”
Doctorate Degree in Business Administration
After seeking a bachelor’s and master’s degrees in business administration, a doctor of business administration (DBA) serves as a final degree. The students enrolling in this program continue to advance their research abilities and lead to highly-paying career opportunities. The DBA degree prepares the professionals to find an outgrowing role in management. Whereas, a Ph.D. in the same qualifies for the roles like professors, researchers, and economists. The program emphasizes research, prepares for contribution in modern business scholarship, etc. The students who wish to teach at the university level require holding a doctoral degree.
Career Options After DBA
Seeking a professional doctor’s of Business Administration, the majors can seek a career as a:-
- Postsecondary Teacher
- Economist
According to the Bureau of Labor Statistics, “the annual average median salary of a postsecondary teacher is $79, 540.”
How Long Will it Take?
Depending upon the total time taken for completing a business administration major program splits up into:-
- An associate’s degree program with a period of 2 years
- A bachelor’s degree in Business Administration takes up to four years
- A master’s degree program and other MBAs generally require 1-2 years
- A DBA program in the same discipline takes between 3-6 years to complete
Online Programs in Business Administration
Online programs in business administration are available for all degree levels, including associates, bachelors, MBA, and DBA degree programs. The online programs including general online programs with the subject such as:-
- Computer Science
- International Business
- Finance
- Human Resources Management
- Health Care Management
- Marketing
- Accounting
- Entrepreneurship
The cost of the bachelor’s degree program varies depending on the institution. The average annual cost for a four-year, public institution runs around $9,970 for the in-state tuition and $25, 620. A four-year-old private non-profit school is $34,740 and $16,000. For masters, the average cost is $8,670 annually, and for the doctorate, it costs $10,830.
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