If you’ve earned a business management degree, you may wonder what career options are available. From being an entrepreneur to a marketing director, there are a lot of lucrative and exciting career paths for a business management degree holder.
But, some of the most common paths for those with a business management degree include roles like business analyst, project manager, and consultant – but did you know there are many other opportunities for you to consider?
When studying business, the wide variety of degrees and distinctions can make choosing the right one confusing. Business administration and management sound similar regarding syllabus but are fundamentally different in terms of the curricula and career consequences.
Still confused? Let us explain in the paragraphs below.
What is the difference between Business management and administration?
Business management and business administration are often used interchangeably, but they have different meanings. Business management focuses on managing business operations and planning, while business administration includes various activities such as finance, accounting, marketing, and human resources.
Business management is concerned with the overall management of a company, while business administration includes all the specific tasks necessary to manage it.
Let’s clarify it even further. Business managers focus on an organization’s day-to-day operations and organizational structure, as well as the development of strategies for success.
They often have a great deal of experience in their field and are responsible for developing policies, procedures, and budgets.
At the same time, business administrators are accountable for implementing those policies and procedures. They also coordinate activities among departments, ensuring that the organization runs smoothly.
Now that you know the difference between business management vs business administration, let’s move forward with career options; if you’ve earned a business management degree.
- Human Resources
Human Resources professionals play a crucial role in many organizations, and having a business management degree can open the door to a career in this field. As an HR professional, you manage a company’s personnel activities, such as recruitment, interviewing, hiring, and training new employees.
You may also develop compensation and benefits plans, conduct performance evaluations, resolve employee conflicts, and implement labor laws. With a business management degree, you will have the skills to handle these tasks and succeed in this profession.
Salary packages for Human Resources positions vary depending on experience and the organization’s size, but it is possible to earn a lucrative salary in this field.
Recruiters play an integral role in finding the right people for various companies, connecting employers with potential employees, and helping both sides reach the best outcomes.
Recruiters’ tasks involve interviewing and assessing candidates, writing job descriptions and ads, conducting background checks, maintaining records, and more.
They usually get a salary package that includes a base pay and a commission fee based on each hire they make. The average salary for a recruitment consultant is $62,678 per year.
Not only does this profession offer potential for financial success, but it can also be rewarding. Helping people find their dream job can be incredibly satisfying, and recruiters have the opportunity to learn about a variety of different fields and stay up to date on the latest trends in the job market.
- Account manager
Account managers are responsible for overseeing a company’s relationships with its clients. It includes managing all customer interactions, understanding customer needs, and identifying new sales opportunities.
Account managers also develop and execute strategies for improving customer service and satisfaction. They ensure the business is meeting its customers’ requirements and expectations.
The average salary for an account manager is $56,000 per year. In addition to a competitive base salary, account managers can earn bonuses and commissions for successful sales. They will also likely receive additional benefits such as health insurance, vacation time, and other perks.
Account managers are essential in keeping customers satisfied with a company’s services. They possess excellent communication, organizational, and problem-solving skills. With the right skills, account managers can help companies build and maintain long-term customer relationships.
- Business Consulting
Business consulting is a great career path for business management students. Business consultants provide expert advice to help businesses make the best decisions to reach their goals. It typically involves analyzing data and creating solutions to help improve efficiency, productivity, and profitability.
Business consultants are highly paid professionals. Depending on their experience, they can expect to earn anywhere from $69,843 to $150,000 per year. Those with more experience may receive performance bonuses or commissions for successful projects.
Business consultants need strong problem-solving skills and must think creatively to develop the best solutions for their clients. They must have good communication skills to effectively explain their ideas to clients and team members.
They should also deeply understand the industry. Business consultants must be comfortable working independently and be able to manage their own time effectively.
For business management degree holders interested in pursuing their dreams, becoming an entrepreneur is a great way to utilize their degree. As an entrepreneur, you’ll have the opportunity to create something from nothing and build your unique brand.
You could become an innovative leader within your chosen industry with hard work and dedication. It can be advantageous to see your ideas come to life!
Regarding salary, entrepreneurs make what they put into their businesses. Depending on the success of their venture, entrepreneurs can see larger returns on investment or make just enough to cover the cost of living. The entrepreneur’s dedication and ambition limit the potential for wealth and success.
- Corporate Trainer
A Corporate Trainer is responsible for designing and implementing training programs to teach employees how to do their job more effectively. It may include introducing new techniques and processes, providing ongoing education, and evaluating employee performance.
As a Corporate Trainer, you would be expected to work with subject matter experts, create training materials, and evaluate the impact of the training on employee performance.
The salary of a Corporate Trainer depends mainly on experience and expertise. With the proper qualifications and experience, a Corporate Trainer can expect to earn an average salary of between $45,000 – $75,000 per year.
Corporate Trainers often have access to excellent benefits packages, such as health insurance, vacation time, and retirement plans.
Marketing is among business management degree holders’ most popular and in-demand careers. In this field, you will be responsible for developing and executing a marketing strategy for a product or service.
You will work closely with the sales team and other stakeholders to ensure successful brand promotion and recognition. Your tasks include planning, research, analysis, advertising, and public relations.
The average salary for a marketing manager is around $83,113 a year. With experience, you can increase your income significantly.
A business management degree is a valuable asset that can open the door to various job opportunities.
With this degree, you can work in human resources, become a recruiter, manage accounts, plan events, provide consulting services, pursue entrepreneurship, work in marketing or sales, own a small business, or even become a corporate trainer.
If you’re considering earning your business management degree, it could be the key to unlocking many exciting career opportunities.