What Are The Highest Paying Jobs In Business Administration?

Whether you are contemplating the degree you will pursue and you are seeking motivation for the possible job prospects you will follow, or whether you have already completed a degree in business administration and you are looking for the highest paying career prospects that you can pursue, you cannot deny that the compensation that is attached to a specific job will greatly impact the career path you will follow.

Yes, you can follow a career of passion if you have superior skills in that particular field, but financial compensation plays a big role in the career path that many people choose to follow and their ultimate reasoning for following such careers.

For that reason, this article is going to look at some of the highest-paying jobs you can pursue with a business administration degree.

The type of job you ultimately pursue will have a myriad of variables that influence whether you are suitable for the job. Also, depending on the type of business administration degree you have, this will impact your earning potential. But from c-suite management roles to personal financial advisor roles, the opportunities are endless.

Let us take a closer look at the high-paying jobs and careers that you could pursue with a business administration degree.

Multiple Jobs With Varying Ranges Of Earnings

One of the greatest things about having a business administration degree is that it is extremely versatile. This means that you could enter a number of different roles, all while holding a single degree.

There is also the possibility to further your studies and take on a more specialized role depending on the type of coursework you pursue.

With that in mind, you could choose to obtain your bachelor's degree in business administration, your master's degree in business administration (which is commonly referred to as an MBA), or you could pursue your doctorate in business administration.

Each qualification opens a varying degree of earning potential, and while you can obtain a job that has a high-paying salary with a bachelor's degree, you may find yourself opening more options and roles with greater earning potential if you consider pursuing an MBA or a doctorate.

Also, choosing a specialized field may allow you to hone in your industry-specific skills and it gives you the opportunity to grow and gain greater earnings within a particular role.

There are also different levels within an organization that you could pursue depending on the degree you have. For example, while management roles may be accessible for you if you hold a bachelor's degree in business administration, you may have access to c-suit level roles if you pursue a master's degree.

Additionally, the fact that you could establish your own business and determine your own success gives you somewhat of an opportunity to work toward establishing your own earning potential. This obviously would be determined by how hard you work, the demand that your business experiences, and many other factors, but a business administration degree opens the doors and creates opportunities.

Skills You Will Acquire From A Business Administration Degree

Whether you are pursuing it at a bachelor's degree level, or whether you are pursuing it at a graduate level, you will learn and fine-tune several skills and expertise that will assist you in your career.

From communication, leadership, and management skills to critical thinking, analytical, and technical skills, you will be equipped to head into the workforce and make a success of your role.

Highest Paying Jobs

Financial Manager Or Chief Financial Officer (CFO)

The first job that you could consider pursuing is a financial manager, but depending on the organization, your qualification, and the role you are fulfilling, this may be a c-suite level role and could earn you the job title of a chief financial officer (CFO).

These individuals would commonly major in accounting and finance, taking coursework that is heavily geared toward these fields. According to the U.S. Bureau of Labor Statistics (BLS), financial managers earn a median annual salary of $131,710.

These are one of the roles that can be obtained with a bachelor's degree, but by furthering one's education, you could greatly and almost potentially increase your earning potential. The BLS also states that the job outlook for financial managers expects to see a projected 17% growth over the next decade. These numbers certainly attest to the success of the individuals that hold these roles.

Marketing Managers

This is another career path that you could pursue which, according to the BLS, earns a median annual salary of $133,380. Additionally, the BLS states that advertising, promotions, and marketing managers can expect to see a projected 10% growth, with more than 35,300 job openings available on average each year.

Administrative Services And Facilities Managers

If you would like to be the person coordinating and ensuring that all operations in an organization run smoothly, then this may be the role for you. According to the BLS, administrative services and facilities managers earn a median annual salary of $99,290. The job outlook for this role expects to see a projected growth of 7% over the next decade.

Medical And Health Services Managers

Coordinating and managing the medical practice of a doctor is not done by the doctor themselves. In fact, this would be a near-impossible feat if the doctors tried to manage their practice while treating patients. According to the BLS, medical and health services managers coordinate all processes and operations within a medical institution or a doctor's private practice and they earn a median annual salary of $ 101,340.

Additionally, this job expects to see a projected 28% growth over the next decade.

FAQs

Which Are The Best Fields And Industries To Work In With A Business Administration Degree?

From being an entrepreneur to working in the field of finance or general business and commerce, and even in the field of medicine, having a business administration degree adds a much-needed contribution to a number of industries.

Is It Hard To Get A Business Administration Degree?

While getting a business administration degree is not easy, if you dedicate enough time and focus to your degree, it is not hard to pursue this degree. Granted, no higher-level education program is a walk in the park, but if you have the innate skills and the dedication, earning this degree will prove to be worthwhile and beneficial to you.

Conclusion

If you are wondering whether or not you should pursue your business administration degree and if you could earn a worthwhile salary by having this degree, the answer is yes, the earning potential when you have a business administration degree increases exponentially. If this is a degree you were considering pursuing and you needed extra motivation, you can consider the earning potential as your motivation.