The field of business is extremely broad. From entry-level positions to C-suite executive roles across a variety of industries, studying business can open the door to many possibilities. As such, prospective students may question: “Is business administration a good major?”
In this article, we will share what business administration entails as a degree, what you can do with the degree, and more. By the end of this article, you will be able to answer for yourself: “Is a business administration degree worth it?”
What is Business Administration?
Since the field of business is so broad, it can be a bit tough to define the study of business administration in just a single way. That being said, business administration degree programs provide the knowledge and skills required for understanding business practices and principles.
They typically will offer analytical training and leadership training so that students are equipped to succeed in whatever role they take on in the business. Business administration degrees cover subjects like accounting, marketing, business ethics, finance, and human resources, to name a few.
What Can You Do With a Business Administration Degree?
So, is business administration a good degree? The answer really depends on what you want to do for your career. Since a degree in business administration teaches about the many aspects of business, it opens the door to so many different career opportunities.
Here’s a look at some of the positions you can obtain with a degree in business administration. When reviewing this list, it’s important to keep in mind that it’s only a selection of what you can do with this degree.
Personal financial advisor
Personal financial advisors perform assessments on individuals’ financial needs to help them with decisions about investments, taxes, insurance, and the like. Personal financial advisors may be tasked with helping a person save for retirement or budget properly, for example. Per the Bureau of Labor Statistics, personal financial advisors earn an average of $94,170 per year.
Logisticians deal with logistics within a business, such as overseeing purchasing, inventory, warehousing, and transportation. Their goal is to optimize the movement of goods, people, and supplies. Logisticians earn an average of $77,030 per year, according to the Bureau of Labor Statistics.
Accountants are responsible for helping businesses make critical financial decisions and creating financial statements. They perform tasks like reconciliations, and audits, and oversee financial statements year-round for accuracy. Per the BLS, accountants earn an average of $77,250 annually.
Insurance underwriters determine whether or not prospective customers can be insured and assess the cost of their premiums based on risk level. Insurance underwriters leverage technology to perform such analysis and make decisions based on critical thinking, too. As shared by Payscale, the average salary of an insurance writer is $59,412 per year.
Market research analyst
Market research analysts obtain and analyze data on customers and competitors to help businesses make various strategic and operational decisions. They work to understand what customers want to aid in increasing sales and execute well-informed marketing plans. Payscale reports that market research analysts earn an average of $55, 742 per year.
Management analysts prepare processes and operations to help optimize business functions. They conduct studies and evaluations and design systems to achieve operational effectiveness.
Per Payscale, management analysts earn $68,285 on average per year.
Benefits of Studying Business Administration
There are many benefits of studying business administration, especially when you have an interest in working within any business setting.
As you can see from the abbreviated list of job opportunities above, you have an array of jobs to choose from. Additionally, these jobs and the degree provide the ability to:
- Earn a lucrative salary (the average salary for a bachelor in business administration degree holder is $58,623 per year, according to ZipRecruiter)
- Engage in various networking opportunities by obtaining internships, finding mentors, and attending industry events
- Obtain many practical and transferable skills such as communication, problem-solving, and critical thinking (to name a few)
- Understand markets and how businesses function
- Learn constantly as businesses, regulations, and markets are ever-changing
- Challenge oneself and grow in one’s career path
To learn more about the benefits of earning a degree in business administration, be sure to check out this article.
What is it like to study Business Administration at the University of the People?
If you’ve known or just discovered that a degree in business administration is what you want to pursue, then it’s time to find the right program for you! Whether you choose to learn online or in-person at a traditional college campus, there are many business administration programs to choose from.
So, what’s it like to study business administration at the University of the People? Let’s talk a bit about it:
At UoPeople, you will learn alongside students from over 200 countries and territories globally who are enrolled in our degree-granting and certificate programs. Our accredited university operates entirely online. In turn, students get to benefit from lower costs as it is our mission to make quality education affordable for all.
Check out more about the University of the People difference here. Also, keep in mind that because all courses take place online, students get to benefit from ultimate flexibility in terms of deciding their own academic schedule.
You asked, “Is business administration a good major?” and we hopefully answered your question with the information shared in this article.
Business administration is a great major for anyone looking to enter the field of business. Depending on what kind of position you wish to obtain, you may need a higher-level degree like a master’s of business administration (MBA). For example, C-suite executives and entrepreneurs often pursue this graduate degree.
That being said, earning the foundational undergraduate degree (associate’s or bachelor’s) in business administration will set you up for entry-level positions, in which case, you may be able to work your way up through experience.
Our best recommendation is to take time and figure out your career aspirations. Once you know what you want to do, then do a little research to find out what level of college education you need in business administration. Once you have that information, it’s time to get to studying!