If you are contemplating your future in the business world, whether as a student pursuing a college degree or a professional looking for a change, you may find your perfect opportunity by earning a degree in management. An undergraduate program like a Bachelor of Science in Management can offer the comprehensive curriculum and level of flexibility you need to accelerate your career.
That being said, you may be uncertain about what a business management degree can do — especially if you have high aspirations for your career. Here’s a closer look at the learning outcomes and potential career paths for graduates.
Why Get a Management Degree?
A business degree may lead you toward a variety of outcomes in your career and support you every step of the way. Whether you want to start a small business or become part of a multinational corporation, a degree in management can make your goals a reality. Here are some of the ways an online Bachelor of Science in Management can prepare you professionally:
Business Degrees Are in Demand
Business and financial occupations are growing at nearly 1 million job openings per year, according to the U.S. Bureau of Labor Statistics (BLS). The BLS also reports that most of these new jobs require candidates to have a bachelor’s degree. A degree in business management will not only help you qualify for a variety of positions in this expanding job market, but it can also set you up for advancement to higher-paying management positions.
Increased Earnings Potential
With a bachelor’s degree in business management, you can qualify for a wider range of higher-paying jobs. According to the BLS, the median annual salary for management occupations was $102,450 as of May 2021. This figure is “the highest wage of all the major occupational groups” and is nearly 125% more than the $45,760 median salary across all fields. This means that a management degree can be a step along the way to a very lucrative career.
Flexibility to Work While You Study
Thanks to the proliferation of online coursework, many prestigious institutions like the University of Alabama at Birmingham offer fully remote and flexible degree programs. In these programs, you won’t have to worry about attending in-class sessions or relocating to be near a campus.
This means that you can schedule classes to fit with your current employment or other commitments like caring for your family. Online programs remove some of the barriers that sometimes keep students from completing a bachelor’s degree.
You May Qualify for Financial Assistance
Not only is the flexibility offered by online degrees great, but college classes also may not cost as much as you think. The cost of completing a degree online is generally lower than studying in person, to begin with, and most accredited universities have a financial aid department dedicated to helping students obtain and manage financial assistance.
A career in management can be extremely rewarding. You can explore many different career types, you can help guide others to a common goal, and make more money. Coupled with convenient online courses and the possibility of financial assistance, now may be the perfect time to pursue your UAB degree.
You Can Decide to Pursue an MBA
If you have an interest in pursuing a Master of Business Administration (MBA) later in your career, as a business management graduate you’ll likely have the necessary education requirements under your belt. Earning an MBA can help further advance your career, perhaps qualifying you for higher management positions and better pay.
Although it’s possible to enter an MBA program with a different degree, an online Bachelor of Science in Management will enable you to hit the ground running and take your skills to the next level. This is because the coursework in a business management program will more closely map to an MBA curriculum.
What Do You Learn as a Management Major?
A bachelor’s degree in business management is designed to prepare you for the working world. Your coursework will introduce you to the theoretical and practical sides of management and leadership, organizational dynamics, and the modern business environment. Core courses and electives can give you the chance to expand your depth and breadth of knowledge, while experiential learning opportunities empower you to apply what you’ve learned to real-world contexts. Areas of learning include:
- Management theory and practice;
- Economics;
- Finance and accounting;
- Information management and data analysis;
- Marketing and communications;
- Business operations;
- Investment and risk management;
- Human resources management.
As part of the online Bachelor of Science in Management program at the Collat School of Business, the General Management track includes coursework in all of these fields to give students a versatile, robust business education. You can also choose a degree concentration in marketing, finance, or operations to better prepare you for a more specific track in your career.
Jobs You Can Get with a Management Degree
Almost any business you can think of needs management, so there are jobs for management majors in every industry. The answer to, “What can I do with a management degree?” may be only limited by your own interests and desires in where to work.
As a business management graduate, you will be able to pursue almost any entry-level opportunity that can lead to a managerial position. Upon advancement, your responsibilities will revolve around fostering teamwork while helping to grow the business. Here are just a few of the career opportunities you may pursue with a bachelor’s in business management.
Sales Manager
As a sales representative or sales manager, you will be tasked with bringing a company’s product or service to market, setting and reaching sales targets, and building relationships with your customers. Sales professionals are often paid a base salary plus a commission on the contracts they secure. Indeed reported that in 2023 that the average salary for sales managers was $82,761 per year, which does not account for possible commissions and bonuses.
Marketing Manager
Marketing specialists and marketing managers create and execute brand campaigns to promote specific products and services, build a brand’s reputation, and ultimately drive sales. Roles in public relations, advertising, and communications are all related career options, as are niche marketing roles like social media management and event marketing. PayScale reported that the average marketing manager’s salary was about $71,000 in 2023.
Human Resources Manager
A company’s human resources department is in charge of various aspects of the workforce — from hiring and training new staff members to securing benefits packages and maintaining employee records. The role of human resources manager may be good for management graduates who excel in communication, conflict resolution, and other interpersonal skills. HR managers earned a median salary of $126,230 in 2021 according to the Bureau of Labor Statistics.
Management Consultant
Management consultants, also called management analysts, provide professional advice for other companies looking to improve their business. Such services could relate to the launch of a new product, internal operations, or agreements with other companies. Though entry-level jobs at consulting firms do exist, management consultants must often work their way up within a specific industry.
Management consultants are known for their commitment and tenacity, as many are required to work 70-80 hour weeks including weekends. Prestige, extensive benefits, and an attractive salary are the perks of working for a top-tier consulting firm. The BLS reports that the median pay for this profession was $93,000 per year in May 2021, and this may not count other perks like profit-sharing and performance bonuses.
Financial Risk Manager
Risk managers specialize in minimizing financial losses by providing a full assessment of a company’s operations including revenue, investments, customer base, and reputation. Risk managers often specialize in one or more categories of business activities, so individuals who pursue this career path will need industry experience to gain expert knowledge.
Contrary to popular belief, risk managers do not usually work beyond the typical 8-hour day shift, but they still earn upwards of $100,000 median annual wage according to the BLS, and this doesn’t include other benefits and bonuses. To get to that position, however, risk managers must work their way up through a financial department after landing a job.
Investment Banker
With a business management degree, you may also consider a career as an investment banker. Professionals in this industry render advice related to mergers, lending, acquisitions, expansion, profitability, and debt of banks and other financial institutions.
Entry points for investment bankers include analysts, financial associates, account managers, and treasurers. Compensation for such positions will vary depending on the role and the firm. Payscale reports an average base salary of nearly $120,000 for investment bankers in the United States, so senior-level managers can expect to make significantly more.
Even if you’re undecided about where you’d like to take your future career, a management degree can open doors that you have yet to imagine.
Sources:
U.S. Bureau of Labor Statistics, “Business and Financial Occupations: Occupational Outlook Handbook”
U.S. Bureau of Labor Statistics, “Management Occupations: Occupational Outlook Handbook”
Indeed, “Sales manager salary in United States”
PayScale, “Marketing Manager Salary in 2023”
U.S. Bureau of Labor Statistics, “Human Resources Managers: Occupational Outlook Handbook”
U.S. Bureau of Labor Statistics, “Management Analysts: Occupational Outlook Handbook”
U.S. Bureau of Labor Statistics, “Financial Risk Specialists”