Is a Business Management Degree Worth It?
Companies and organizations of all sizes need managers to lead various divisions, departments, teams, and projects. That’s why you’ll find business manager positions spanning functions from operations and finance to marketing and sales.
There are many paths to becoming a business manager, including working your way up within a company or industry, pursuing professional development opportunities, or earning a specialized degree or certificate.
But is a business management degree worth it? To help you answer that question, we’ll explore various business manager career opportunities, including demand and salary information.
Is Business Management a Good Career?
The outlook for business management careers is positive. According to the U.S. Department of Labor’s Bureau of Labor Statistics (BLS), employment in all management occupations is expected to grow by 9% between 2020 and 2030.
It’s also worth noting that a business management degree can also serve as preparation for careers and positions that aren’t necessarily labeled “manager.” This means there are many professional opportunities waiting in a range of industries, companies of all sizes, and business units and functions of all kinds.
Business Management Careers: What Does a Business Manager Do?
There’s no succinct way to answer: “What does a business manager do?” That’s because the list of possible careers with a business management degree is seemingly endless, which also means it’s an exciting time to pursue a career in this vast field. Let’s take a look at just a few popular careers areas within the greater world of business management.
- Human Resources
Within the umbrella of human resource management, you’ll find a range of specializations, including recruiting, training, compliance, and payroll. A degree in business management, especially one that offers specialized courses in HR, can prepare you for a variety of roles related to onboarding and retaining employees.
- Sales and Marketing
Within the sales, marketing, and overall business development realm, there’s a variety of roles that might benefit from a business management background. These could include working as a sales representative/account manager, spearheading sales operations, overseeing marketing campaigns, or even managing the sales team.
- Operations and Logistics
Getting things from Point A to Point B is becoming more sophisticated than ever before. The continual rise of ecommerce, plus the ever-expanding distribution of national and global brands, has led to demand for supply chain management professionals at every level. Especially in sectors like transportation, retail, packaged consumer goods, agriculture, and energy you can find business management careers with a logistics focus.
- Project Management
An increasingly in-demand skill, project management has become a career field in its own right. While you’ll find project manager positions available in a host of industries, some of the most common include software development firms, information technology companies, and digital marketing and advertising agencies.
Again, these are but a few examples. Business management is an incredibly versatile field, and you’re likely to find plenty of opportunities that fit your personal and professional interests.
Business Management Salary: How Much Do Business Managers Make?
Since business managers can work in such a wide range of industries and positions, the data surrounding business management salaries is also broad. We turned to the U.S. BLS Occupational Outlook Handbook for income details for a selection of related occupations.
According to the BLS, the median annual salary in 2020 for management-related occupations includes:
- Administration services managers, $98,890
- Business continuity planners, $77,420
- Compliance officers, $71,100
- Financial services managers, $134,180
- Food service managers, $56,590
- Human resources managers, $121,220
- Lodging managers, $55,670
- Medical and health services managers, $104,280
- Personal services managers, $116,350
- Property, real estate, and community association managers, $59,660
- Purchasing managers, $125,940
- Sales managers, $132,290
- Supply chain managers, $96,390
- Training and development managers, $115,640
The BLS doesn’t often track emerging roles or ultra-specific positions; however, career website Indeed shares some of its salary data (as of February 2022) on positions related to business management, including:
- Account executive, $65,773
- Business consultant, $71,581
- Client services manager, $55,222
- Data analyst, $67,300
- Logistics manager, $61,227
- Management analyst, $77,523
- Office manager, $42,187
- Project manager, $76,404
- Sales representative, $59,594
It’s important to note these figures are national averages; actual pay will depend on geography, sector, company, and, of course, your experience, education, and specific duties and responsibilities.
Earning a Bachelor’s Degree in Business Management
A bachelor’s degree in business management introduces you to a broad range of skills and knowledge you’ll need to start or grow your business manager career. You’ll not only take core business and management classes, but you’ll also delve deeper into topics like creativity, communication, conflict management, marketing, and even human behavior. Beyond what you’ll learn, it’s important to also consider how you will learn.
Benefits of an Online Business Management Degree
Earning a bachelor’s of business management degree online provides a way for busy professionals to up their skills while still focusing on their current job - and all of the other responsibilities in their life.
In a high-quality online program, your coursework can certainly be academically rigorous at times; however, it’s important to choose a school that makes online learning manageable. At Champlain College Online (CCO), programs are divided into short, seven-week terms and students have 24/7 access to their course materials - and plenty of student support services.
Attending a business management program geared toward working adults also allows you to put what you’re learning into practice right away, in your existing position. Plus, you’ll get to learn from and share with your peers, who will collectively bring diverse professional and life experiences to the classroom.
Finding a Business Management Specialty
As noted earlier, business managers are found in an incredibly wide range of industries, sectors, levels, and positions. Specialization can benefit you in many ways, such as opening you up to new opportunities and increasing your marketability.
If you’re coming to business management from another field, you might already bring some unique subject matter expertise with you. For example, maybe you’ve worked in customer-facing positions or have a background in information technology and now desire to move into the business aspect of things. On the other hand, maybe you’ve held entry-to-mid-level business-related roles, but you want to take that experience to advance your career in a new-to-you field.
CCO’s bachelor’s of business management offers specialized tracks in a variety of in-demand areas, including:
- Healthcare administration
- Human resource management
- Information technology
- Project management
- Supply chain management and security
- Web design
The subject matter expertise you’d develop in concentration areas like these can open doors to more specific roles, some of which are especially in-demand or have higher earning potential.
“Is a business management degree worth it?” is largely a personal question. However, in today’s competitive job market, formal education and specialized training can certainly give you an edge, access to higher-paying positions, and the confidence to succeed.
To learn more about earning a bachelor’s of business management online at Champlain, visit our program page.
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