Is Business Administration a Good Major?
If you want to study business administration, it’s natural to have worries about whether business administration is a good major. Set your worries aside as we’re about to give you the answers to the FAQs regarding business administration. Once you have all the information you need it’ll be easy for you to decide if majoring in business administration is the next best step for your future education and career.
Students are attracted to study business administration for many reasons. The first is usually their interest in business, talent, as well as good analytical, problem-solving, and decision-making skills. The other reasons that make business administration a popular choice of major for many students are directly connected to the employment possibilities in a variety of careers across different industries. Simply put, a degree in business administration offers excellent job prospects.
According to the Bureau of Labor Statistics (BLS), there’s a projected employment growth of 7% in business and financial occupations from 2021 to 2031, resulting in around 715,100 new jobs over the decade. In addition to the new jobs, the Bureau of Labor Statistics has included the opportunities arising from the need for replacement workers and came to an impressive number of 980,200 annual job openings.
Another fact that “speaks highly” of business administration majors is a career with above-average growth in business management, health care management, finance, accounting, and marketing. And that’s not all! Once you graduate, you’ll be eligible for an average annual salary of $76,570 (in May 2021-BLS data), which is higher than the average annual salary for all occupations of $45,760.
Getting a degree in business administration is good both for running your own business one day and for pursuing business-related career paths. Another benefit of being a business administration major is the opportunity to continue your education to grad school and obtain a Master’s degree.
So far everything works in favor of business administration majors. Still, we need to address a few more questions that’ll give you a clearer picture of what to expect from a degree in business administration. Questions that’ll enable you by the end of this article to have the answer to the core question of your interest: Is business administration a good major?
Is Business Administration Hard?
As in any other degree program, for some students it’s easy, for others it’s hard! Generally speaking, we can agree that it’s rather challenging than hard.
If you’re ready to focus on planning, analyzing, managing, and organizing different business endeavors and the financial needs of an organization, then studying business administration will come easy for you. Also be prepared to expand your knowledge in accounting, supply chain management, marketing, information systems, and human resources management. To be a successful business administrator, you should combine your theoretical knowledge with your skills. Bear in mind, not every business skill is teachable. So having a nose for business is a huge plus, along with additional language, software skills, and certifications.
To know for sure whether you have what it takes to be a business administration major, check out what business administration has to offer:
- In-depth understanding of a wide range of business operations aspects
- Curriculum covering topics like accounting, marketing, finance, economics, and more
- Wide-ranging experience in business administration and its principles
- Networking with like-minded individuals
- Training and practical experience
- Revealing case studies, presentations
- Interaction with experts in the field of business administration
- Understanding of the dynamics of company operations
- Running and maintaining a business
So, what do you think so far, is business administration hard? We believe it’s practical and challenging! Practical as it provides you with the real-world skills that today’s employers request. Challenging as it covers a broad business education in different areas of accounting, finance, operations, marketing, and much more. Therefore, if you’re practical and always challenge yourself, business administration won’t seem hard at all!
What Can You Do with a Degree in Business Administration?
Generally speaking, a degree in business administration, may take your career in different areas like accounting, administrative services, management, marketing, and finances. There’s so much you can do with a degree in business administration, and the number of students with bachelor’s degrees in BA proves just that. If you analyze the National Center for Education Statistics (NCES) data, you’ll realize that in the US business is the most popular undergraduate degree program.
According to Forbes Advisor, a degree in business administration will offer you a wide-ranging career choice. You’ll be able to work in an array of industries and choose the one that suits you best. Once you obtain your degree in business administration you’ll be fully prepared to enter the labor market with confidence, and make the most of the following job opportunities:
- Management analyst
An average annual salary of $93,000 in 2023
Projected job growth of 11% (from 2021 to 2031)
- Market Research Analyst
An average annual salary of $63,920 in 2023
Projected job growth of 19% (from 2021 to 2031)
- Sales Manager
An average annual salary of $127,490 in 2023
Projected job growth of 5% (from 2021 to 2031)
- Marketing Manager
An average annual salary of $135,030 in 2023
Projected job growth of 10% (from 2021 to 2031)
- Human Resources Specialist
An average annual salary of $62,290 in 2023
Projected job growth of 8% (from 2021 to 2031)
- Accountant
An average annual salary of $77,250 in 2023
Projected job growth of 6% (from 2021 to 2031)
- Administrative Services Manager
An average annual salary of $99,290 in 2023
Projected job growth of 7% (from 2021 to 2031)
- Financial Analyst
An average annual salary of $95,570 in 2023
Projected job growth of 9% (from 2021 to 2031)
- Health Services Manager
An average annual salary of $101,340 in 2023
Projected job growth of 28% (from 2021 to 2031)
- Human Resources Specialist
An average annual salary of $62,290 in 2023
Projected job growth of 8% (from 2021 to 2031)
A degree in business administration offers you plenty of job opportunities. Even though you can land one of the above-mentioned jobs with a bachelor’s degree in business administration, to stand out from the crowd and have better chances at one of the high-paying positions in management it’s preferred to have a master’s degree in business administration, or a related field.
Is a Degree in Business Administration Paid Well?
Yes, a degree in business administration is paid well! Many job positions requiring a degree in business administration often offer above-average salaries, sometimes even exceeding $120,000.
To have all the information at hand we’ve conducted additional research about the salary rate in business administration, and we’ve come up with the following statistics:
- According to Payscale the average annual salary for a degree in business administration is $74,000. The highest average annual salary is reserved for managerial positions (Product marketing manager salary: $94,647, Brand strategy and management salary: $118,701)
- According to ZipRecruiter’s data, the average annual salary for a degree in business administration is $60,081, while the highest average annual salary is $129,500
- Glassdoor sets the average annual salary in business administration at $58,958
- Comparably sets the average annual salary in business administration at $71,425. Location-wise the highest average annual salary is in San Francisco: $107,798 (51% bigger than the US average)
- According to the information on Indeed, the average annual salary in business administration is $55,558, while the highest average annual salary is $163,313
As you can see the highest-paying jobs in business administration are reserved for managerial and chief executive roles. These business administration professionals receive an average annual salary of $179,520. Other positions in the domain of computer and information systems management and financial management, receive an average annual salary of $159,010 and $131,710, respectively.
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Conclusion
By now, you’ve probably decided whether business administration is a good major for you. Since you’re well equipped with enough information and data you’ll be able to make a wise choice regarding your college major. Still, think things through before making your final decision.
A degree in business administration will fulfill your desire to oversee, direct, and even run your own business. It’ll give you a chance to become an aspiring leader and entrepreneur with the knowledge and applicable management, technical, and organizational skills.
The business administration degree will get you closer to many private, public, and non-profit business jobs with a high earning potential, a possibility for career advancement, and long-term job security. Business administration is a good major because it’s extremely broad, which enables you to work both in entry-level positions and executive roles across a variety of industries.
Another motivation for business administration majors is the high-paying jobs that can be pursued with a degree in business administration. So, stop asking yourself: “Is business administration a good major?”, and take action! If your wish to find your place in the business community, start working hard. Combine your talent, ambition, theoretical and practical knowledge, and skill set, and don’t forget to always challenge yourself. Only then you’ll be an aspiring student and candidate for one of the high-paying positions in business administration.
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