What’s the most lucrative degree among business organizations? Experts believe that companies prefer hiring individuals with a degree in business management/administration. Since an MBA accelerates your career and enhances your chances of acquiring employment even during a recession, this academic expertise constitutes the most popular degree at most universities. But precisely what sort of jobs can you land with a business degree? Well, it depends on your career goals and future objectives. Students must pursue employment opportunities well-suited to their desires and ambitions. Here, we’ll break down a few possibilities for business graduates to kickstart their careers in the commercial industry.
In-demand jobs for business graduates
What do you learn in business education? The business industry has become fast-paced in modern times and changes rapidly. While pursuing a business degree, you must be learning about the theories of finance, marketing, management, and the real-world application of these subjects. You have many specializations to choose from in business institutes, especially at the bachelor’s level. Several entry-level careers in the business industry require just an undergraduate degree from potential candidates.
But upper-tier employment positions need you to pursue a master’s degree – or a doctorate if you show the ambition for it. Even during dark times such as this ongoing pandemic, business students mustn’t lose hope while seeking alternative opportunities. Getting AACSB online MBA no GMAT degree opens up different career pathways for prospective students. It’s lucrative enough for working professionals who have no time preparing for GMAT, so they’d easily apply for the following occupations:
The need for accountants in business organizations hasn’t plummeted even during this crisis. Since these experts advise companies on how to finance their activities and maximize profit, they also suggest organizing a firm’s resources and valuables. It’s also a part of their duties to conduct audits and give investment advice. They make over $70,000 on average every year, and BLS expects this profession to grow by 4% this decade with a fast-as-average pace.
2. Sales Manager:-
Your sales department constitutes the organization’s lifeblood as they contact potential leads and contribute to business expansion. Your company also needs a person to oversee this section, i.e., the sales manager. They monitor sales performance, understand customer preferences, and work with dealers/distributors to improve your marketing endeavors. These experts earn over $120,000 annually on average while often working additional hours on evenings/weekends.
3. Financial Advisor:-
This pandemic caused many people to be cautious about their finances. A personal financial advisor manages their clients’ monetary investments for long-term means. They also help people manage their debts and maximize their commercial objectives. With their extensive legal expertise, financial advisors offer information about state/federal taxes. An advisor’s salary amounts to nearly $90,000 while they, with on-the-job training, assist individuals in planning their financial future.
4. Marketing Manager:-
Finance experts have advised SMEs not to halt their marketing efforts even during the pandemic. So, you can still jump-start your career as a marketing manager. You’ll conduct market research for the company, plan promotional campaigns, and collaborate with the sales staff. Since every industry has some products it needs to sell, marketing managers are seldom jobless after graduation. They make $140,000 to $150,000 a year as BLS expects this profession to grow by 10% in the future.
5. Social Media Manager:-
Brands are aware of the power of social media. Statistics show that 73% of marketers found that social media marketing strategies were effective for business. A social media manager uses his/her tech-savvy expertise to promote their companies and enhance brand reputation online. They create strategies to leverage social media for acquiring more organic traffic for their organizations. Hence, they make over $50,000 on average every year and must be efficient team players.
6. HR Manager:-
These managers supervise the hiring/recruiting procedures while collaborating with the executives in the company. They serve as a bridge between managers and employees. Thus, you must possess public dealing capabilities to become an HR manager. They ensure that your workers are motivated, satisfied, and trained to perform their duties. No wonder human resources managers earn annually over $120,000 on average. Their responsibilities include an organization’s administrative department.
Actuaries serve as risk assessors for employers. Being problem-solvers and strategic thinkers, they help their clients diminish financial threats. With their mastery of economics and mathematics, they predict potential losses, identify possible risks, and find means to escape them. They earn over $100,000 every year, while BLS estimates that this career will grow by 18% in this decade. They are capable of conducting complex analyses with their financial understanding and business acumen.
8. Management Consultant:-
Alternatively known as management analysts, these experts find faults in your company’s structure and suggest possible improvements. They see your organization’s strengths and weaknesses before offering solutions to enhance its profitability. They also propose means to improve your employees’ efficiency. Some consultants focus on particular industries as well. As per BLS, these analysts receive over $80,000 in annual salary while this industry grows by 11% this decade.
9. Business Teacher:-
You can become an accountant, marketer, or financial analyst/manager. But pursuing your career as an educator enables you to create business experts out of the country’s youngsters. You require the soft skills of verbal/non-verbal communication to become a business teacher. These teachers must possess broad-based information in different subjects to effectively educate their students. You can make over $100,000 in this career while excelling yourself as a competent instructor.
Lastly, let’s discuss a different approach for business graduates, i.e., entrepreneurship. Many students pursue independence from the traditional nine-to-five jobs by establishing separate companies. So, they must assume the complete responsibility of handling their organization’s daily operations. This career doesn’t necessarily require you to be a degree-holder. But pursuing a business degree allows you to succeed in this industry efficiently, with salaries ranging from thousands to millions USD.
The pandemic’s onslaught has resulted in the destruction of people’s livelihoods and a sudden elevation in unemployment rates. No wonder students question whether a business degree can translate into any high-demand career right now. If you think that getting an MBA isn’t the right decision in 2020, statistics show otherwise! In the 1st wave, the median salary of those with a master’s degree was 75% more than those with a bachelor’s degree. During pre-COVID days, over 90% of companies wanted to hire business graduates. This number has dropped significantly now, but 77% of firms still desire to hire MBA degree-holders. That’s why you should consider pursuing a business degree in 2021.