Business Management

Business management degree career outlook: Jobs and salaries

During a business management degree, students learn how to analyze financial projections, make strategic business decisions, and effectively lead teams. Learners study finance, accounting, marketing, and entrepreneurship. They also strengthen their analytical and collaboration skills. The degree prepares graduates for leadership roles as entrepreneurs and managers. 

Management careers offer high salaries and strong projected demand, according to the Bureau of Labor Statistics (BLS). But how much can you make as a business management major? And what jobs can you get with a business management degree? Recent data shows a strong career outlook for students earning a degree in business management. 

How much money can you make with a business management degree?

On average, professionals with a bachelor’s in business management earn $66,000 per year, according to PayScale data from September 2021. However, salaries vary widely depending on the location, industry, and job title. 

Many business management roles, including supervisory positions, pay above-average salaries. For example, management occupations pay a median annual salary of $109,760, according to BLS data. Industrial production managers, financial managers, and sales managers all report median salaries in the six figures. 

Business professionals can increase their earning potential with experience, a graduate degree, or professional certifications. 

What jobs can you get with a business management degree?

A business management degree prepares professionals for decision-making roles in diverse industries. A bachelor’s degree meets the requirement for many management roles, including as a human resources manager, financial manager, or management analyst.

General or operations manager

  • Minimum degree required: Bachelor’s
  • 2020 median salary: $107,680
  • Projected job growth (2020-30): 8%
  • Related job titles: director of operations, business manager, store manager

Good fit for: 

  • Professionals with supervisory and leadership experience
  • Those with strong time-management and problem-solving skills
  • Candidates with the ability to communicate effectively

General and operations managers direct daily operations for their division. They create budgets, oversee staff, and set policies. General and operations managers also monitor projects and allocate resources. Most roles require a bachelor’s degree and work experience. After working as a general or operations manager, professionals may move into CEO roles.

Financial manager

  • Minimum degree required: Bachelor’s
  • 2020 median salary: $134,180 
  • Projected job growth (2020-30): 17%
  • Related job titles: risk manager, insurance manager, chief financial officer

Good fit for: 

  • Professionals with strong analytical and data-driven decision-making skills
  • Leaders with experience managing teams
  • Those with a detail-oriented approach to solving problems

Financial managers oversee financial analysts and create plans to reach their organization’s financial goals. They analyze financial data to recommend investment strategies and evaluate financial risk. Financial managers generally hold a bachelor’s degree in finance, business management, or a related field. They should also have some work experience as a financial analyst. 

Sales manager

  • Minimum degree required: Bachelor’s
  • 2020 median salary: $132,290
  • Projected job growth (2020-30): 7%
  • Related job titles: account executive, business development manager, area sales manager

Good fit for: 

  • Candidates with a background in sales, including sales work experience
  • People with strong communication and customer service skills
  • Those with good organizational and leadership abilities

Sales managers oversee a team of sales representatives. They evaluate data to project sales and set goals. Sales managers also train sales reps on customer acquisition and sales techniques. The position typically requires a bachelor’s degree and experience in sales.

Human resources manager

  • Minimum degree required: Master’s
  • 2020 median salary: $121,220
  • Projected job growth (2020-30): 9%
  • Related job titles: training and development manager, recruitment consultant, benefits and compensation manager

Good fit for: 

  • Professionals with a background in human resources
  • Candidates with strong interpersonal and communication skills
  • People with leadership or management training

Human resources managers oversee the administrative side of organizations. They manage the recruitment and hiring process, administer compensation and benefits packages, and resolve employment disputes. Human resources managers also advise organizations on their training and staffing needs. Most human resources managers hold a bachelor’s degree with experience in human resources. Some positions require a master’s degree.

Management analyst

  • Minimum degree required: Bachelor’s
  • 2020 median salary: $87,660
  • Projected job growth (2020-30): 14%
  • Related job titles: management consultant, business process analyst, operations analyst

Good fit for: 

  • Professionals with management training, including a business management degree
  • Those with strong analytical abilities
  • People with a detail-oriented outlook and good problem-solving skills

Management analysts evaluate organizations to solve problems and identify more efficient procedures. They recommend strategies that will increase earnings and reduce expenses. Most management analysts hold a bachelor’s degree in business or a related field. After working as a management analyst, professionals move into roles as consultants or managers.

What kind of jobs can you get with a business management degree?

Professionals with a business management degree work as project managers, financial managers, management analysts, and general managers. The degree also prepares graduates for supervisory roles. 

What high paying jobs can you get with a business management degree?

The highest paying business management jobs include financial manager, human resources manager, and sales manager. The median salary for these roles exceeds $120,000 per year, according to May 2020 BLS data.

This article was reviewed by Krystal Covington, MBA

krystal-covington-016-print-500px-head-250px.jpg

 Krystal Covington, MBA, is a business growth strategist with 15 years of experience in marketing and public relations. Her company, Go Lead Consulting, provides clients foundational tools to build new client and customer relationships. 

Covington founded Women of Denver, one of the largest privately held membership organizations in Denver, Colorado. Her program helps women increase their business acumen, sharpen leadership skills and connect with other high-achieving women. Covington received her MBA from Western Governors University in 2012.

Krystal Covington is a paid member of the Red Ventures Education freelance review network.