Business Management Careers List And Salaries
The U.S. Bureau of Labor Statistics predicts more than 600,000 new jobs in business management by 2024, opening up opportunities for those with a passion for investments, real estate, marketing and human resources. Because the field of business is so broad, it’s worth exploring the different career paths and specializations available, what types of careers are emerging, and the skills or certifications necessary for various positions.
Types Of Finance Degrees
In the finance world, there are various levels of degrees you can choose depending on your specific interests. So you may be wondering, what can you do with a finance degree? A bachelor’s degree in finance will prepare you for entry-level work in the finance field, whereas a master’s degree in finance or a doctorate degree in finance will make you better suited for management or instructor roles in this field. Listed below are the three main types of finance degrees you can pursue:
Best Business Analyst Career Paths
Before you get moving on your business analyst career path, you need to do the prep work. You need either a good business background or solid knowledge of information technology. Most entry-level business analyst positions require a minimum of a bachelors degree, usually in accounting, finance, management, or IT.
These are the 6 most in-demand business analyst career paths:
- Business Analyst Manager
- Quantitative Analyst
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Bachelors Degree In Finance
A bachelors degree in finance is usually the most common requirement to pursue a career in finance. This degree takes four years to complete and prepares you with the basic fundamentals you will need as a finance professional. While a bachelors degree in finance will build upon your finance skills, you will also be taught leadership and communication skills to fully round out your abilities.Why Get a Bachelor’s Degree in Finance:For many entry-level positions in the finance world, a bachelor’s degree in finance is required to even be considered. A bachelor’s degree will prepare you with the basic foundation you will need in order to succeed in a finance career. Obtaining your bachelor’s degree in finance also allows you to further your education to advance your career later on if you choose to do so.
Popular Careers For Business Managers
A degree in business management is versatile and will result in a host of open doors in the corporate business world. Business managers need to take coursework that will include basic business accounting, business law including contracts and ethics, principals of marketing, human resource management, and more skills necessary to manage the many aspects of business operations.
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Business Intelligence And Business Strategy
Ideal career path for those who: are program literate, well-versed in data analytics and problem-solving, have excellent attention to detail and industry knowledge.
The demand for qualified business intelligence analysts and managers is expected to soar to 14 percent by 2026, according to the US Bureau of Labor Statistics. This should come as no surprise as markets become more crowded and businesses are in desperate need for talented business intelligence and business strategy professionals to help keep them afloat.
Students who study the EGADE -W.P.Carey Executive MBA at EGADE Business School can deepen their knowledge of business practices and put theory into practice through experiential learning opportunities. Experiences such as these allow students to understand what works when it comes to orchestrating business strategies.
While the Master in Business Management also at EGADE Business School offers a cutting-edge curriculum, allowing students the opportunity to enhance their understanding of the use of technology and innovation within a business setting.
A Step By Step Guide On Pursuing A Business Analyst Career Path
Lets break down the steps with bullet points.
- Earn your degree
- Gain an entry-level job as a developer, industry expert, or quality assurance engineer. Any of these would be considered a junior business analyst position. Securing this job will most likely involve interviewing for a business analyst position, so you may want to brush up on interview questions
- Become a subject matter expert within a few years of employment
- Accumulate several years of hands-on work experience in the previously mentioned positions
- Improve your skillset by pursuing certifications in business analyst-related courses
- Move up into a more senior position, such as IT Business Analyst, Senior/Lead Business Analyst, or Product Manager. Note that most organizations looking for senior-level candidates want to see an MBA or other relevant business degrees
After ten years or so, aim for Chief Technology Officer , or an independent consultant!
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Types Of Economic Analyst Jobs
Economist: Economists are ubiquitous at a variety of finance-related institutions. Investment banks, asset management companies, and central banks employ economists, as do government agencies and academic institutions. An economist tracks and analyzes data to explain current market or economic circumstances and predict trends going forward.
Economic strategist: There is a fine line between a strategist and an economist. Economists tend to focus on the broad economy, while strategists home in on the financial markets. Strategist jobs are more likely to be found at banks and money management companies than at academic and government institutions. Many strategists begin their careers as research analysts, focusing on a particular product or industry.
Mba Accounting Career Resources
- Monster, CPA or MBA? The employment site explains the pros and cons of earning an MBA versus becoming a certified public accountant, which typically leads to a more narrowly focused career.
- The Balance Careers, Accounting Careers: Options, Job Titles, and Descriptions Among the accounting job titles presented in depth here are controller, auditor and chief financial officer.
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Data And Analytics Manager
Data and analytics managers, sometimes referred to as data analytics managers or analytics managers, use advanced data analytics tools to distill business intelligence from the data an organization collects. Insights gleaned from their data analyses support the decisions made by business managers and officers.
In addition to experience in preparing data for analysis and applying advanced analytics techniques, data and analytics managers require a background in business management, organization structure, marketing, corporate finance and business communications. All of these areas are covered in an MBA curriculum. Other necessary skills are statistical modeling, quantitative analysis, predictive data modeling and database management.
The median annual salary of data and analytics managers is approximately $98,000 as of June 2021, according to PayScale figures. Professionals with less than a year of experience have a median salary of approximately $73,000 per year, and analytics managers with 20 or more years of experience have a median annual salary of about $115,000.
Business Administration Major Career Paths
Business administration majors are qualified for a number of jobs that call for their background and knowledge. A business administration major provides students with a general background in subjects including accounting, finance, , human resources management, international business, and management. Students at many colleges take a few courses in each of these subjects, but some schools require their students to concentrate in one or more of them.
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Mba Finance Career Resources
- Financial Management Association, Career Guidance for Undergraduate & MBA Students The associations advice for MBA students includes a step-by-step guide to landing a job in finance and interviews with pioneers in modern finance such as Franklin Allen, John Bogle and Rene Stulz.
- Investopedia, Investment Banking vs. Corporate Finance: Whats the Difference? This article compares and contrasts the distinct roles played by investment bankers and corporate finance managers.
According to the U.S. Bureau of Labor Statistics, the number of firms looking to hire finance managers is expected to increase over the next decade. Growth in finance manager hiring between 2019 and 2029 is projected at 15%. Average growth in hiring for all occupations in the period is projected at 4%. The median annual wage for finance managers as of May 2020 was $134,180. The largest employers of finance managers include finance and insurance industries, 30% professional, scientific, and technical services, 14% management of companies and enterprises, 11% government, 7% and manufacturing, 6%.
Finance Careers With An Mba
MBA finance careers include a wide range of professional options for people seeking to enter the lucrative field of financial management. An MBA is among the most commonly held degrees by executives working for financial firms and in the financial departments of organizations. Among the job titles of MBA holders in finance positions are financial controller, investment manager, finance director and chief financial analyst.
Heres a closer look at three of the most common corporate finance positions: financial analyst, portfolio manager and finance manager.
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Benefits Of Getting A Business Degree
Whether you are considering a business or business management degree as a student or as an employee seeking career advancement, earning degrees in this field can have several benefits including:
Potential for promotion in a shorter amount of time
Become a better, more knowledgeable leader
A better understanding of strategy and operations
Easier transition into new careers
Increase your and your teams job performance
Develop specialized skills that apply to most industries
Read more: Is a Business Degree Worth It?
What Are Business Careers
Business careers are jobs you can get after completing a business degree. These careers span many industries, as business professionals are in demand across a variety of organizations. Depending on your specialization, your career options can be near limitless because you’re not just confined to the business sector. Corporations, universities and nonprofits alike seek business professionals to serve in an assortment of roles.
While the term “business professionals” is quite vague, this is for a reasonbusiness professionals can focus their careers on a wide range of specializations depending on their interests, such as marketing, accounting, finance and more. In each specialization, you can choose from a variety of jobs, giving you the freedom to find a career that’s best suited for your particular skill set and lifestyle.
A business degree can help qualify most graduates to work within most of these specialized fields. In a business program, you’ll learn the requisite critical thinking and analytical skills necessary to succeed in any career, and you may also have the opportunity to concentrate on particular specializations if desired. However, some careers may also require additional certification, training or an advanced degree.
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What Is The Difference Between Accounting And Finance
Accounting and finance differ in the specific aspect of the financial scope of their work. The accounting field deals with the more granular financial transactions that occur on a daily basis, while finance focuses on broader investment management over time. Someone in the accounting field typically works with audits, taxes, and budgets on a constant basis and continues to provide exact numbers to report on the evolving success of their business. A person in the finance field focuses on stocks and bonds and determines good investment strategies to ensure that their finances grow with the everchanging market.
Top 12 Business Management Careers
If you’re planning a career in business management, you’ll probably be doing at least one of these jobs. We searched employment sites to come up with a list of the 12 biggest management roles.
The education required for these jobs is industry dependent since you work your way up to senior positions. To complement management skills, you might need to become proficient in a field such as engineering, information technology, nursing, finance or marketing.
Often, the education side of professional development comes towards the middle stages of a person’s career. The most popular business management degree is a Master of Business Administration. MBA programs are widely available online.
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Masters Degree In Finance
After completing a bachelors degree in finance, you are qualified to pursue a masters degree in finance. This degree takes two years to complete and expands upon the fundamentals of finance by focusing on specialized areas of finance.Why Get a Master’s Degree in Finance:If you really want an advantage on your competition in the finance job market, a master’s degree in finance will set you apart from your bachelor’s degree counterparts. A master’s degree in finance will better prepare you specific areas within the finance field such as trading, investments or risk management positions.
What Types Of Jobs And Employers Are There In Business
Quick links for this article
HR SalesPR Management consulting
Business is a very broad term that can cover any sort of activity that helps an organisation, big or small, to stay profitable and generate money. Most jobs involve some aspects of business whether you work as a lawyer, an engineer, a scientist or an accountant.
However, weve chosen to focus on five specialist business functions: human resources , sales, marketing, public relations and management consultancy. All these roles support an organisation and enable it to stay in profit rather than actually creating a product or service. If you choose one of these careers you may be able to move between different types of business eg from an HR job in a law firm to an HR job in an engineering company.
You can also find many roles that involve supporting a business in accountancy and IT these are covered elsewhere on the site.
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Popular Careers In Finance
For career-minded people who are intrigued by financial entities, focusing on business and financial occupations may be a lucrative path of study. People working in business and financial occupations may crunch numbers for a specific company, or work in the stock market or other investment industry.
Financial professionals develop analytical skills to scrutinize the financial standing of their clients or corporation. These detail-oriented individuals can evaluate financial issues, collect and analyze data, solve problems, and report the financial standing of an entity. Communication skills are imperative to present written and oral results to individuals, key staff members, high-level executives, and possibly stockholders. Typically employees pursuing a career in finance would want to have at a minimum of a bachelor’s degree in finance to be considered as a competitive candidate.
Finance Jobs On And Off Wall Street
Kirsten Rohrs Schmitt is an accomplished professional editor, writer, proofreader, and fact-checker. She has expertise in finance, investing, real estate, and world history. Throughout her career, she has written and edited content for numerous consumer magazines and websites, crafted resumes and social media content for business owners, and created collateral for academia and nonprofits. Kirsten is also the founder and director of Your Best Edit find her on LinkedIn and Facebook.
Jobs in the financial sector can be highly lucrative, which helps explain why theyre in such great demand. Of course, breaking into the world of finance isnt easythe entry qualifications can be as lofty as the salaries. At a minimum, most jobs require a four-year degree, and many professionals have advanced degrees in business, math, economics, or statistics.
Still, the finance industry has various opportunities, both on and off Wall Street, that cater to different skill sets and interests. That includes jobs as an investment banker, actuary, portfolio manager, quantitative analyst, securities trader, financial planner, financial analyst, and economic analyst, an assortment of professions that pay an average base salary ranging from $63,163 to $101,848 and total pay figures that include bonuses and commissions of anywhere from $42,000 to $283,000.
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Your Gmercyu Path To A Degree In Finance
Our bachelor of science in finance business degree will prepare you for todays ever-evolving marketplace by helping you develop specialized finance skills, while also building your communication and leadership abilities. Careers for finance majors are on the rise, and GMercyUs degree in finance can help you land a job in this dynamic field. As a student in GMercyUs bachelor of science in finance degree, you will have access to GMercyUs well-rounded business program where you will learn about money management ranging from both business and personal finances, as well as how to navigate the stock market through understanding the use of stocks and bonds.
The BS in finance program at GMercyU is accredited through the International Accreditation Council for Business Education and offers a number of specialty areas including investments, risk management, sports business finance, and taxation.
The Foundational Skills Of All Bi Positions
The foundational skills of all BI positions entail data management concepts coupled with data manipulation skills.
The more traditional BI route involves mastering relational concepts coupled with SQL as well as mastering non-structured concepts involving Hadoop coupled with Python. This knowledge is used religiously throughout any BI position whether at the beginning or at the end of your career.
A great place to start learning the basics of SQL code for free is at Code Academy. And heres a great resource to start learning more about Hadoop.
A quick note if youre reading this as a college student whos trying to decide his or her major, Management Information Systems, Business Information Systems, Intelligence Studies, Statistics, and anything in Computer Science are excellent majors for a career in Business Intelligence & Analytics.
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Pros And Cons Of Finance Jobs
The most obvious plus is the pay: Finance jobs tend to pay better than other professions. Other notable advantages include decent working conditions, a certain degree of flexibility, and the possibility to potentially use your skills elsewhere. Being good with numbers and finance is generally highly desired in every industry, so if you fancy a change in career, it shouldnt be too hard to find new opportunities.
Like every field, there are also drawbacks to a career in finance. They can include high stress, big responsibility, long working hours, continuing education requirements, and, in some cases, a lack of job securitythe finance industry is generally quite cyclical.