Business administration can be a lucrative field. Business management professionals typically have several years of business experience as well as formal education at both the undergraduate and graduate degree level. The highest paying positions in the business administration field can have salaries that exceed six figures. Some positions even provide profit sharing and incentive bonuses that can increase the amount of total compensation significantly.
Financial managers oversee the financial and investment activities of companies. This may include the preparation as well as review of crucial financial reports. The U.S. Bureau of Labor Statistics (BLS) notes that financial managers tend to have different job titles that reflect the specific duties they perform. They may be called risk managers, controllers, credit managers or any other title that reflects their most important function. A bachelor's degree in finance or business administration can lead to a career in this field, but larger companies tend to seek out candidates with master's degrees. The master of business administration, or MBA, is one of the most commonly held degrees of those working for large companies in this field. The median annual salary of financial managers, excluding all bonuses and incentives, was $99,330 in May 2008, according to BLS statistics.
CEOs and Top Executives
Chief executive officers or CEOs are top executives who provide companies with the vision and direction that they need to meet their goals. CEOs typically implement plans and strategies designed to move the company in the general direction of those goals. These professionals can also go by a wide variety of titles such as president or vice president or even general manager. The CEO usually works in collaboration with other high-level executives within the company or with the company's board of directors to ensure that the vision and goals of the company are met. Although a bachelor's degree in business administration may lead to employment as a top executive with smaller companies, larger corporations tend to hire professionals who have the MBA or another similar master's level degree in business. Top executives tend to have many years of experience as well before they attain their positions. The BLS notes that the median annual salary of top executives across all industries was $91,570, as of May 2008.
Human Resource Directors
Human resource directors can be just as important as the CEO to the survival and success of a company. Human resource directors oversee the operations of the human resource divisions of major companies and corporations. Although there are many different titles and jobs within the human resource departments of these companies, the director oversees the entire personnel operations of the company. The importance of the human resource director to a company hinges on the fact that she is largely responsible for the work force that is developed and interacts with the public. Human resource director education usually entails obtaining the MBA degree with a concentration in the human resources field. The median annual salary of human resource managers was $96,130 in May 2008, according to the BLS.