What Can I Do With a Business Administration Degree?
A degree in business administration opens many doors in the business world. The knowledge gained during these years of schooling is critical in any industry and can be used universally throughout the workforce. Having a solid foundation in business administration, however, provides a significant jump start to careers in human research, management, market research, public relations and entrepreneurship.
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Human Resources
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A company's human resources (HR) department can range from one individual to a team of dozens. These professionals have many duties, which generally include recruiting new employees, compensating employees, managing company policies and coordinating training programs.
Employees in human resources also serve as employee advocates, running interference between concerned employees and employers. They help motivate the other workers to be happy, contributing employees.
In this capacity, there are considerable amounts of paperwork and human interaction. Because the workload is often heavy, candidates for these positions need to possess excellent time management and organizational skills.
HR assistants average a salary of $31,000 per year. On the other hand, highly trained and educated HR managers earn twice that ($62,000) on average.
Business Management
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A career in management can encompass a wide variety of choices. Trained and educated candidates can become business managers, who have considerably higher responsibilities than retail managers and a correspondingly greater salary. Managers are responsible for the oversight of their company's operations and efficiency.
Business managers often have a specific function within the business. For example, a company can maintain separate management in purchasing, personnel and financial divisions. While their duties are similar, their responsibilities are unique to their area of expertise.
Salaries range dramatically from averages of $28,000 per year to well over $100,000 per year, depending on experience, location, degree and specific position.
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Market Research
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With a firm understanding of the business world, candidates with degrees in business will find greater success in obtaining a job as a market research analyst.
Market research analysts have a special niche in business. These individuals research market conditions in various locations to determine the viability of a new product or service.
In order to execute this role, they gather extensive information on existing competitors, sales, successful marketing methods and distribution. Individuals may conduct surveys to gather consumer information and create a custom marketing campaign based on regional consumers, their preferences and purchasing trends.
Following their research, these individuals prepare detailed reports with graphed data. They provide forecasts of the success of a particular product or service in the area and measure the effectiveness of any marketing campaigns.
In order to be successful in this role, candidates must be very analytical and organized. One must be able to ingest large amounts of complex data and regurgitate it into plain, simple text.
Market analysts average an income of $48,000 per year.
Public Relations
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Although most public relations (PR) employees work with organizations in advertising, health care, education and government, all organizations can benefit from the presence of a highly trained PR person.
These employees interact with the public on behalf of their organization. Typically, the job description involves interaction with the press and public, writing press releases, organizing press conferences and maintaining detailed files about company activities.
The average income for a PR specialist varies depending on the type of employment. Those working for a professional business typically earn an average of $53,000 per year, while those working for government entities earn $47,000 per year.
Entrepreneurship
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A degree in business administration is the first step toward successful entrepreneurship. While it is true that you can open a business without a degree, having a solid background in business administration prepares an entrepreneur for success in the business world.
Entrepreneurs own and operate their own businesses. They exist in any industry, in any city anywhere in the world. Their jobs are varied---some run fast food franchises, some operate small stores and some provide services. All of them have the thrill of being their own boss.
Entrepreneurs need to be hardworking, determined and creative. They need to be willing to work long hours with little pay to start their business. They must have the drive it takes to succeed.
It is impossible to estimate the average income of an entrepreneur. Some, educated and well-suited to the task, succeed and earn millions. Others who are not prepared and do not plan fail miserably.
Preparation and a solid business background provide the greatest chances of success as an entrepreneur.
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