What’s the Career Outlook for a Business Management Degree Grad?

As an ambitious individual with high hopes for climbing the career ladder, you understand the importance of selecting a degree that will equip you with today's most in-demand skills. Ideally, you'll enroll in a highly respected program that gives your resume an automatic boost upon graduation.

Options abound, but one path, in particular, provides a compelling blend of far-reaching, transferable skills and targeted knowledge — not to mention the respect of potential employers: a business management degree. The Master of Business Administration (MBA) is highly regarded, of course, but why wait until graduate school to prepare for an exciting business career?

Below, we dive into the many benefits and opportunities associated with the Bachelor of Science in Business Management — an amazing program that could prepare you for an impressive career trajectory. Keep reading to learn why this field is so compelling and discover: What can you do with a business management degree?

What Is Business Management?

A far-reaching term with many different interpretations, business management refers to the wide array of initiatives required to coordinate various business pursuits. This concept encompasses the how of modern businesses: how a broad spectrum of administrative and operational essentials are carried out to improve productivity and limit waste.

Business management professionals oversee employees from numerous departments, ensuring that everyday processes are appropriately planned and executed. They keep teams and entire organizations running efficiently while promoting innovation and collaboration.

What Can You Do With a Business Management Degree?

While the Master of Business Administration (MBA) is often touted as the ultimate degree program for business-minded individuals, it is just one of many offerings worth considering. There are also compelling options at the undergraduate level. These are especially valuable for business-minded students who recognize their high ambitions early on.

If you have big plans to enter the business world and rise through the ranks, you could be the perfect candidate to earn your Bachelor of Science in Business Management. This degree equips you with various technical and soft skills that today's most discerning employers value, as well as hands-on experience through internships, capstone projects, and exposure to other practical settings or situations.

Specializations Within Your Degree

While the B.S. in Business Management centers around foundational management skills and coursework, there are also plenty of opportunities to apply key concepts to specific fields. Depending on your aptitude and interests, you could quickly find your preferred niche within these specialty areas:

• Cybersecurity Fundamentals
• Blockchain
• Human Resource Management
• Project Management
• Web Design

Skills Learned From a Business Management Degree

As we've discussed, business management degree programs emphasize a strategic blend of soft and technical skills. The importance of soft skills cannot be overstated; they are critical to success when overseeing teams of professionals. Examples include:

• Empathy
• Collaboration
• Public speaking
• Written communication
• Time management
• Decisiveness
• Problem-solving
• Patience

In addition to these crucial core competencies, business management programs help students develop analytical and technical skills. Foundational areas of study include financial accounting, managerial accounting, marketing, and economics.

As a business management student, you can expect a deep dive into these critical concepts:

• Marketing segmentation
• Cost-volume-profit relationships
• Risk analysis
• Project life cycle
• Cash and accrual basis accounting
• Information systems security

Career Options and Industries

Every industry and department can benefit from the tailored skills of business management professionals. A business management degree can provide a wealth of transferable skills that allow you to pursue an exciting and potentially lucrative career in many niches. Examples of compelling positions available to business management graduates include:

• Talent acquisition manager
• Revenue manager
• Director of finance
• IT director
• Brand manager

These roles are present within numerous industries and in many types of businesses. Examples include:

• Healthcare
• Pharmaceuticals
• Agriculture
• Manufacturing
• Banking
• Hospitality

Job Outlook and Projected Growth

While the outlook can vary considerably from one industry or niche to the next, it's abundantly clear that the future is bright for business management professionals.

A lot depends on specialty areas and education level, but employment data from the Bureau of Labor Statistics reveals strong potential for many areas of business management. With a job growth outlook of only 5 percent across all professions, it's exciting to see expected job growth exceeding 10 percent in the following fields:

• Operations research analysts: 23 percent
• Financial managers: 17 percent
• Computer and information systems managers: 16 percent
• Management analysts: 11 percent
• Advertising, promotions, and marketing: 10 percent
• Public relations and fundraising: 8 percent

Job outlook can be more difficult to determine for consultants and entrepreneurs, but these options are also worth mentioning. Self-starters with an independent streak often gravitate toward these opportunities, which can provide greater flexibility and a strong sense of satisfaction.

Salaries and Earning Potential for Business Management Jobs

Salary details are important when asking, “What jobs can you get with a business management degree?” The niches with the highest earning potential are often those with the strongest demand. However, it is possible to command impressive wages when employed in a field with a lesser job outlook. It is common for business management professionals across many fields to earn well over six figures.

To illustrate this strong income potential, we've outlined a few high-earning fields that call for a bachelor's degree, along with their median annual wages as highlighted by the BLS:

• Industrial production managers: $103,150
• Training and development: $120,130
• HR managers: $126,230
• Sales managers: $127,490
• Financial managers: $131,710
• Computer and information systems managers: $159,010

Advancement Opportunities for Business Management Graduates

Many business management graduates are able to quickly rise through the ranks, especially upon acquiring valuable experience through targeted internships. After a few short years on the job, stepping into middle management or beyond is possible. Hard work can make all the difference, especially if you are willing to take on new challenges or responsibilities.

Eventually, you may find that advancing becomes much easier if equipped with an MBA. If you've already completed your undergraduate program in business management, you'll be well-positioned to succeed in this notoriously rigorous graduate program. This is your chance to build on the solid foundation previously developed as an undergrad. At the graduate level, you can continue developing vital problem-solving skills while gaining one of today's most respected credentials.

Networking Tips for Getting a Job in Business Management

The right degree can give you a definite leg up in your job search, but there's also a great deal of truth to the common cliche: it's not just what you know but who you know. College is extremely helpful in this regard, as it is the ultimate networking opportunity.

While enrolled, you will regularly interact with the field's best and brightest professionals while building connections with future leaders. Following graduation, you will have access to a vast alumni network, which can continue to steer you in the right direction for years to come.

To further improve your networking efforts, follow these simple suggestions:

• Make the most of your internship and capstone experiences. An internship provides an exciting opportunity to connect with professionals in your field or niche of choice. Many students are hired directly from these internships, while others find that recommendations quickly help them secure desirable jobs. Take this opportunity to build strong relationships with several professionals while demonstrating your unique skill set.
• Find a mentor. Today's most successful business management professionals credit their mentors for keeping them inspired and motivated. College is the perfect time to form a lasting relationship with a mentor.
• Connect with employees and students from all backgrounds. Don't limit yourself to business management professionals. Connections in other areas can prove valuable. Get to know students, interns, instructors from other programs, or employees from different departments.

Additional Education and Certifications

A business management degree provides a strong start, but you can also secure many specific credentials to make you a more compelling hire for the best employers. Credentials should not be earned instead of a degree, but they can provide a valuable supplement, particularly if you eventually choose to move into a different field or niche. Examples include:

• Project Management Institute: Project Management Professional (PMP), Portfolio Management Professional (PfMP), or PMI Risk Management Professional (PMI-RMP)
• National Association of Sales Professionals: Certified Professional Sales Leader (CPSL) or Certified Master Sales Professional (CMSP)
• Association of International Product Marketing & Management: Certified Product Manager or Certified Product Marketing Manager
• Institute of Management Accountants (IMA): Certified Management Accountant or Certified in Strategy and Competitive Analysis
• American Marketing Association (AMA): Marketing Management Certification
• Association of Business Process Management Professionals (ABPMP): Certified Business Process Professional (CBPP) or Certified Business Process Leader (CBPL)

Pursue a Career in Business Management With an Online Degree

Now that you know what it takes to thrive in the competitive yet opportunity-filled world of business management, it's time to take an essential first step: seeking a targeted and highly respected degree. The B.S. in Business Management from Champlain College Online could provide a leg up, delivering a crucial blend of business-oriented skills and the chance to build a robust professional network.

Champlain College Online is committed to supporting you as you pursue your degree and far into the future. Whether you're just starting in business management or are determined to climb the career ladder, we provide the resources and guidance you need to thrive. Get in touch today to learn more.