5 Business Management Facts that will Make You a Believer

When it comes to believing in things like Bigfoot, landing on the moon or the mythical government testing ground “Area 51,” facts are what often help us sift through the layers of speculation and imagination to determine what to believe.

Similarly, when deciding upon a career path it’s critical that you believe in what you will be doing. Without that belief it’s easy to lose focus when working to obtain your larger career goals by instead focusing on what may seem like “the daily grind.”

Here we are going to take a look at a variety of different business management facts to help you see why this is a field that you can believe in for choosing your career path.

Then it’s up to you to decide whether you can see yourself as a big-time business management professional or if your career vision is still as blurry as those Bigfoot videos.  

Business Management Career Outlook Facts

In order to uncover the following facts about business management careers we used Burning Glass, an online job board to analyze more than 1.7 million job listings over the past year. These business management facts might be just what you need to get started on your own career path toward becoming a future manager.

1. Job openings

business management facts 1

When selecting a focus area for your career it’s smart to ensure that the size of the market offers you a comfortable number of job options. The law of averages tells us that the larger the job pool, the greater chance you’ll have to land a position.

The fact is: Management positions are projected to continue to grow by 7 percent – or 615,800 positions – through 2020 according to the BLS. That’s an average of more than 12,000 job openings per state!

Read more here: How Do I Get into Management 

2. Education requirements

business management facts 2

By knowing the most commonly required level of education for a career in management you can avoid any career speed bumps as you work your way up the corporate ladder. It’s is smart move to ensure that you will not be passed over for a promotion because your resume didn’t contain the right education requirement.

The fact is: Seventy-six percent of employers seeking to fill management positions require candidates to have a bachelor’s degree. The most-desired major for management positions is a degree in business administration or business management.*

Read more here: Becoming an Organizational Leader

3. Experience requirements

business management facts 3

While everyone typically starts in an entry-level position and works their way up, try not to get frustrated when you see job postings that require more experience then you have. Understanding the typical experience expectations for your desired career path will allow you to focus on other areas of career development.

The fact is: Management positions often require several years of experience. In fact, just 2 percent of positions required less than one year, and more than 50 percent require more than four years. But every organization is different.  Consider discussing a personal development plan with your manager right away so you can begin to build your path into management.

Read more here: When an Employer Requires Experience and You Have None 

4. Salary

business management facts 4

While choosing a career is often based on many different factors including location, growth potential or competition, salary is one of those necessary considerations that can make or break a new career opportunity. And while salaries can vary depending on your position, knowing your potential income can help you plan your family’s future.

The fact is: If you’re looking for motivation as you begin developing your career, keep in mind that 70 percent of management positions make more than $50,000 per year. That would put you in the 85th percentile of earners nationwide!

Read more here: Management Occupations

5. Employment variety

business management facts 5

From finance to healthcare, one of the major benefits to working in management is the variety of organizations that need professionals with the right skills. Few careers offer the type of flexibility that management professionals have at their fingertips.

The fact is: You can pursue management positions in pretty much any industry. Do you love the outdoors? Forestry is your answer. Do you enjoy politics? Perhaps public administration. Do you have an out of control rock collection? If so, then the mining industry might be for you. In fact, the top three industries for management positions include:

  • Professional, scientific  and technical services
    • Job title examples: project manager, product manager or district manager
  • Hospitals
    • Job title examples: human resources manager, program director or clinic manager
  • Educational services
    • Job title examples: director of admissions, marketing manager or administrative manager

Read more here: Business Employment Opportunities by Industry

Hopefully with these five facts you have a much stronger understanding of what a career in business management looks like. If you are starting to believe that a career in management is the best place for you, be sure to check out our business management program.

What other facts about business management would you like to learn about? Let us know in the comments below!

 

*Source BurningGlass.com (Analysis of majors in greatest demand for management occupations, 7/20/12 to 7/19/13)

External links provided on Rasmussen.edu are for reference only. Rasmussen College does not guarantee, approve, control, or specifically endorse the information or products available on websites linked to, and is not endorsed by website owners, authors and/or organizations referenced.

Grant Tilus is an Associate Inbound Marketing Manager for Collegis Education who writes articles on behalf of Rasmussen College with the aim to inspire, motivate and inform current and prospective students in a positive way.

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