The Salary of Business Management Majors
College students interested in business management should first decide which area of business interests them. Although a four-year degree or advanced degree in business management is typically appropriate for aspiring business leaders, business leaders in health care industries, for instance, may pursue degrees in either business administration or public administration.
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Salaries
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College majors who pursue a degree in business management and, in fact, become managers, may eventually earn a mean annual salary of $105,440 a year, according to the Bureau of Labor Statistics’ 2011 publication. Business management majors who land a job in the lowest 10th percentile of wage earners gross $44,860. Those in the 25th, 75th and 90th percentile earn $63,760, $130,980, and in excess of $166,400, respectively.
Top-Paying States
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Business management majors in New York State can expect to earn the highest managerial salaries of any state in the nation. Management opportunities in New York pay an average salary of $129,670. New Jersey is a close second; business management majors who graduate and work there can expect to earn $129,070. These two states are followed by the District of Columbia, Delaware and Massachusetts, where business professionals typically earn $122,460, $121,180 and $120,570, respectively.
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Top-Paying Industries
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The industries where business management majors can expect to earn the highest salaries are investment, securities and commodity brokerage firms. Management majors earn $166,350 in the investment field and $157,140 in the securities and commodity brokerage firm industry, according to the BLS. Business management majors who work in the film and security and commodity-exchange industries can expect to earn $151,340 and $149,010, respectively.
Best Employment Opportunities
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In 2010, business management majors found the best managerial opportunities for employment in California and Illinois, the BLS reported. Employment opportunities were above the national average in those states. In New York and Texas, employment opportunities were near the national average; and, in Florida, employment opportunities were below the national average but better than all other states.
Highest Concentration of Jobs
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The District of Columbia had the highest concentration of managerial jobs across industries in the country. Concentration of managerial jobs in the District of Columbia was almost three times the national average. Connecticut had the second highest concentration of jobs for business majors, as the concentration of jobs was above the national average. Alaska, Maryland and Idaho, all of which also had a concentration of jobs higher than the national average, followed.
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