Salary for business management degree. Many recent grads ask me about the salary for someone with a business management degree. A business degree can lead to a number of career paths, some more lucrative than others.
The average salary for a business management major with an undergraduate degree was $60,000 as of 2016. However, this number varies widely depending on the type of company you work for. The Bureau of Labor Statistics found that entry-level workers in companies that employ more than 100 people are paid an average salary of $41,000 per year. This number increases to $47,000 per year when you work for a smaller company with less than 100 employees.
Business management majors can also expect to earn more money if they earn an advanced degree such as an MBA or a master’s in business administration. The BLS found that people who have these advanced degrees make $90,000 per year on average.
Salary for business management degree
Business Management Overview
Most business management programs, on the other hand, tend to narrow the degree’s focus from the start so that students are taking courses that prepare them for management roles. Rather than learning about the various aspects of business, management students focus on staffing, directing, planning, organizing and human resource functions. Personnel operations are a main component of coursework, even though general business topics may also be covered.
In addition, students in some business management programs focus their education on a specific sector of the business world: agricultural business, hospitality management or human resource management, for example. Because of this specialized approach, students sometimes have fewer elective choices, or less credits available to use as electives.
Careers
Though there are differences between the two types of degrees, career opportunities after graduation are similar. A solid background in business education qualifies you for a wide variety of jobs, and majoring in administration doesn’t mean that employers won’t consider you for management positions. With both degrees, as is the case with most industries, experience matters when it comes to upper-level jobs. After graduation you may work in an entry-level business career regardless of whether your degree is in management or administration. With time, however, job experience will likely lead to promotions and increased salary. Especially if you go back to school to earn a graduate degree such as an MBA, you can expect good job prospects throughout your career.
