Almost every university offers a business administration degree. The demand for such academic programmes is high, and so is the demand for young professionals with a business administration background. But what exactly can you become with this kind of degree?
In this article, EDUopinions provides answers to questions that you are probably asking yourself as a future business graduate. But first, let’s clarify something: is this about MBAs?
MBA and Business administration
This section might sound slightly confusing at first, as MBA stands for Master of Business Administration. However, the majority of studies in business administration are actually followed as Masters of Science (MSc).
MBAs mostly attract individuals with a few years of experience who want to improve their leadership skills in one or several areas of business. On the other hand, MSc in business administration are research masters through which you study topics on a more theoretical basis, yet still with a lot of practical opportunities. This article focuses on MSc, but we will refer to MBAs on several occasions as they might be relevant to you now or in the near future.
What do employers think of Business administration diplomas?
Business graduates have the best professional insertion rates. As many as 95% of graduates find a job within 4 months after receiving their diploma. Many even receive an offer before having finished their studies.
Such programmes usually train skills that are highly valued by employers, such as financial analysis and managerial skills. Most importantly, it provides you with the knowledge and the ability to understand developmental processes within a business model.
What are your career prospects?
Degrees in business administration provide graduates with amazingly wide career opportunities. The majority of students go on to work in HR and sales. Additionally, there is a multitude of other professional fields in which you could do a great job, such as:
- Financial analyst,
- Market research analyst
- Data scientist
- Risk manager
- Even planner
- Development and training specialist
- Supply chain manager
This list is rather corporate-oriented. However, it is good to keep in mind that employers usually accept applications from individuals with various study backgrounds. Therefore do not limit yourself to these fields and think outside of the box to find the best fit for your expectations. Business administration skills can be useful in almost any field and company.
Finally, if you want to work in positions of leadership, you should consider doing an MBA. Indeed, these programmes focus on providing you with leadership skills in various areas of business.
How Much money will you make?
It is difficult to provide an amount of money that you could expect to make with your first job. As mentioned earlier, there is a great deal of diversity in the positions that business administration graduates hold. Generally, however, you will have a salary above the average income of the majority of entry-level jobs. That is because you will be eligible to work in big companies with the means to pay you well. And just like anyone else, you can be entrepreneurial by starting your own company and directly apply the material learnt in class. By doing so, you expose yourself to greater risks regarding your financial situation. However, you also put yourself in a position filled with a lot more opportunities for growth, innovation, fulfilment, and a potentially very successful future when it comes to wealth.
Individuals who go on to do an MBA will probably see their salary increase by 50% to 100%.
In conclusion, studying business administration can lead you to an exciting and diverse career as you will have skills and a profile sought-after by employers from multiple industries. Do not hesitate to check out our blog to read more about business administration tracks and choose the best programme for you.