5 Business Management Facts that Will Make You a Believer
By Will Erstad on 06/22/2015
Going to college is a big commitment. It’s only natural to want to be sure of yourself when it comes to choosing the right major. To find that feeling of self-assurance, you’re going to need the most valuable resource of all—information. Unfortunately a busy schedule and the daily grind of life can make finding the facts you need to decide on a career path tricky.
We’re here to help.
We compiled a variety of business management facts to help give you the confidence you need in choosing business management as your major.
Business management career outlook facts
To help uncover these business management facts, we used real-time data analysis from Burning-Glass.com.* This data may be just what you need to get started pursuing your dream of becoming a manager.
1. Job openings
When selecting a focus area for your career it’s smart to ensure that the size of the market offers you a good 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: Burning-Glass analysis of the past 12 months revealed 357,983 job postings for positions requiring a business management degree. Moreover, 7,950 of those job postings were for a business analyst, one of Glassdoor.com’s ‘Top 25 Jobs in America’ for 2015!
Read more here: The Go-Getter’s Guide to a Business Management Career
2. Education requirements
Knowing the most commonly required level of education for a career in management allows you to avoid any career speed bumps on your way up the corporate ladder. It’s important to be aware of what employers want so you don’t miss a chance at a promotion due to lack of education.
The fact is: 85 percent of Burning-Glass.com results for positions related to business management prefer or require a bachelor’s degree. There are still many opportunities available to associate degree holders, but more and more employers want a bachelor’s degree.
Read more here: The Top Management Positions for Future Business Leaders
3. Experience requirements
A degree in business management doesn’t mean you get to skip entry-level work and head straight into management without experience. But don’t let this discourage you! Many of the most effective managers have firsthand experience working in roles they now supervise. Your time spent in an entry-level position is valuable for learning the ins and outs of a job and developing your leadership skills.
The fact is: 77 percent of all business management positions require at least two years of experience. Starting off in entry-level work might not be as glamorous as a management position, but remember, this is the time to prove your potential. If possible, work with your manager to create a career development plan and make your management aspirations clear.
Read more here: The Top 5 Fields to Find Entry-Level Business Management Jobs
While choosing a career is often based on many different factors including location, growth potential, and—most importantly for some—salary. And while salaries can vary depending on your position, knowing your potential income can help you plan your family’s future.
The fact is: 65 percent of the business management jobs analyzed list salary information equal to or greater than $50,000 annually.** It is important to note that industry and years of experience are factors that will impact salary. This should give you confidence in your future earning potential as you progress within your career.
Read more here: 10 Salaries Business Majors Can Get Excited About
5. Employment variety
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 degrees offer the type of flexibility that business management degree holders have at their fingertips.
The fact is: You can pursue management positions in pretty much any industry. Do you love the outdoors? Forestry could be your answer. Do you enjoy healthcare? Managing a hospital billing department is right up your alley. Want to help change the world? Maybe managing the finances of a non-profit organization is for you.
The possibilities are vast. In fact, a few of the top industries for management positions include:
- Professional, scientific & technical services
- Job title examples: project manager, product manager or district manager
- Job title examples: human resources manager, program director or clinic manager
- Educational services
- Job title examples: director of admissions, marketing manager or administrative manager
Hopefully these five facts have reassured you that a degree in business management is the perfect fit for you. If you’re still on the fence, this final business management fact should help: if you have an associate degree, you may be eligible to finish a bachelor’s degree in business management for as little as $9,900!
*Source Burning-Glass.com (Analysis of top titles requiring a business management or administration major, 1/30/14 to 1/27/15)
**Salary data represents national, averaged earnings for the occupations listed and includes workers at all levels of education and experience. This data does not represent starting salaries and employment conditions in your area may vary.
Editor's Note: This article was originally written and published in August 2013 but has since been edited to include updated information and statistics.