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9 Benefits of Having a Business Management Degree

 



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Many business professionals with the title of supervisor or manager have gone to school to get their education in business administration. A business degree can provide students with the knowledge needed to help them achieve their career goals in departments such as human resources, marketing, and finance. 


9 Benefits of Having a Business Management Degree




Understanding more about business administration degrees can help you decide if pursuing a degree is right for you. In this article, we discuss what a business administration degree is, nine benefits of earning a business administration degree and some of the high-paying jobs you can get with it.




What is a business management degree?



A business administration degree is a valuable tool that can help you gain employment in various managerial roles. It also provides knowledge to people who are interested in becoming entrepreneurs. 


From undergraduate degrees to graduate degrees in business administration, you can pursue different levels of education depending on your long-term goals. Many colleges and universities offer in-person or online classes and have different majors that students can choose based on their interests.




9 Benefits of a Business Administration Certification



Some of the many benefits of earning a degree in business administration include:




1. Increase employment opportunities



Earning a Bachelor of Business Administration degree prepares you for jobs by providing you with many skills related to management, such as how to manage employees, how to communicate effectively and how to create a strong teamwork mentality within your team. Many employers look for these skills when hiring someone for a management position.




Additionally, while you're in school, you can decide which area you'd like to specialize in based on your interests and ambitions, such as resource management or human resources. Companies in specialized fields may prefer specialized candidates who have advanced knowledge in their field of management. 



For example, if your major is in financial management and your employer is hiring for a management position in finance, you may have the skill set they are looking for rather than another candidate with consulting management experience.





2. Develop basic management skills



Whether you want to be an entrepreneur or are more interested in a management position, earning a degree in business administration can help you develop the essential skills required for any role. With no previous work background in management, you will still likely have a solid understanding of many of the difficult skills other managers have learned through years of experience, such as how to negotiate effectively and how to develop a formal business plan. Formal education can also teach you skills such as how to analyze data to help you form better financial or marketing strategies.


Other common management skills you learn include:


  • Report
  • Leadership
  • Submit
  • solving problems
  • project management





3. Get an introduction to the business industry



Although employers often look for experience on a resume, earning a degree in business administration can give you knowledge that can take years of work experience to gain. The degree provides detailed insights into different industries, and you can learn about topics such as market trends and industry reports. 



Instead of learning these things on the job, you can learn them in school and prepare to implement them once you are assigned to your first managerial position.




4. Learn about multiple disciplines



Some students who pursue a degree in business administration are hesitant about the field of specialization they wish to pursue. During the beginning of your studies, you will often learn about the different disciplines within management and their general function in a business environment. 



With a broader understanding of each discipline, you can decide whether you prefer to focus your studies in a specific area or gain a more comprehensive knowledge of each area of ​​management. Some of the specialties you can learn more about include:




  • finance
  • HR
  • Service Operations
  • Suppliers
  • Consulting
  • International Business





5. Become an entrepreneur



Some people choose to obtain a degree in business administration, intending to start their own business upon graduation. The knowledge gained during your studies can provide a solid foundation for the elements required to start a business. 


Some schools offer extracurricular opportunities for students interested in entrepreneurship to meet and discuss their ideas. They also occasionally bring in successful entrepreneurs to speak to interested students to discuss their challenges and successes in a question-and-answer format.





6. Increase your credibility



The more education you have, the more credible you are as a management professional. Many companies look to hire management professionals with a degree in business administration because their education helps them become proficient in many aspects of management. 


Business management increases the credibility of aspiring entrepreneurs, too. Graduates looking to start their own business may be more likely to secure financial investments because they appear more knowledgeable to investors.





7. Connect with people with similar interests




Another benefit of studying business administration is that you have the opportunity to connect with a diverse group of people with similar interests. As a student, you can meet recruiters, professors, and students who have many of the same work values ​​and enthusiasm for business. This provides the possibility to find a mentor and discuss job opportunities after graduation.




For example, a student interested in starting a small business can ask for advice from one of his professors and receive expert suggestions that they would not have had the opportunity to ask if they weren't in school. Additionally, after you graduate and start working as a business professional, you can contact your classmates if necessary to consult on a new project you hope to pursue or to get their opinion on a work-related matter.




8. Get a higher salary



Oftentimes, candidates with a degree related to the position they are applying for are able to get higher salary offers than anyone without credentials. 


If you learn a specialized skill while in school that can help a business generate more profits, many employers see you as an asset to their business. Because of your unique talents, they may be willing to pay more generously for your efforts.




9. Work in a flexible environment



Recently, some flexible companies have converted many office jobs to telecommuting, or part-time work from home jobs after realizing that they could save commuter and rental property costs if their employees were working remotely. 



Managers and their employees can complete most of their tasks from home with the help of online messaging and video conferencing services. 



If you have strong leadership skills and can delegate and communicate with your team effectively, employers may offer telecommuting capabilities as part of their benefits package. Some common roles that can work remotely include:


  • Sales manager
  • tax manager
  • business man
  • actuary
  • Management consultant





High-paying jobs you can get with a business administration degree



Here is a list of some of the jobs you can work on once you earn a degree in business administration, all of which pay more than $60,000 annually. For the latest Indeed salaries, please click on the links below:





1. Marketing Manager



National average salary: $63,165 per year


Essential Duties: The Marketing Manager is responsible for promoting business services or goods to generate interest and more sales. Some of their duties include generating new sales leads, creating estimates and budgets for advertising campaigns and developing pricing strategies. 


The Marketing Manager is also responsible for overseeing the entire marketing department, coordinating marketing strategies with other department managers and overseeing promotional, branding and advertising campaigns.



2. Sales manager



National average salary: $72,354 per year


Essential Duties: The Sales Manager is responsible for leading the sales team so that it continually grows professionally and meets its sales goals. 


Typical duties include developing business plans, creating strategies to achieve quarterly goals and coordinating with the Marketing Manager on creating lists of potential clients. 



The sales manager also gives a lot of help to his team by arranging frequent trainings, developing their strengths through motivation and support and tracking each employee's sales to determine if there are any areas of improvement that would allow them to help.






3. Compensation and Benefits Manager



National average salary: $84,130 per year


Essential Duties: The Compensation and Benefits Manager works closely with the Human Resources department to plan the company's benefits and compensation packages for employees. 


Some of their responsibilities include evaluating and making changes to existing employee compensation and benefits packages, ensuring all packages comply with legislation and supporting the HR team with recruitment. 




Other duties consist of preparing and delivering presentations, managing human resources staff, and overseeing the day-to-day operations of compensation and benefits.




4. Engineering Manager




National average salary: $107,781 per year


Essential Duties: An engineering manager responsible for managing multiple teams and coordinating and supervising engineering projects. Some of their leadership duties consist of planning strategies to help team members complete the project on time, providing training and professional development to their employees and providing guidance to their team as needed. Other responsibilities include proposing and managing budgets, designing and developing products, and hiring contractors.




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