Many individuals choose to obtain a traditional educational degree prior to entering the business environment. Business degrees are available in a variety of specializations, including accounting, finance, business management, economics or other business topics. A common choice is a degree in business management. This degree should provide individuals with a well-rounded foundation relating to employee management and creating a dynamic workplace environment.
The typical educational format for a business management degree is the four-year baccalaureate program. This program usually requires individuals to complete 120 semester hours prior to receiving the degree. Coursework comprises finance, human resources, workplace relations, economics, marketing, team dynamics and other business or management courses. Courses usually include teamwork-style groups that promote the use of several individuals to complete assignments based on classic business functions.
Increases Business Skills
Business management degrees help individuals increase their business skills: leadership, interpersonal communication, technology and other valuable character traits. These skills are commonly referred to as hard skills in the business environment. Hard skills are technical abilities individuals learn through years of experience or traditional education. Hard skills may also relate to a specific business industry, such as food service, manufacturing and production, retail or service industries.
Better Job Opportunities
Individuals may find better or increased job opportunities with a business management degree. According to the U.S. Bureau of Labor Statistics (BLS), the administrative services manager career field is expected to grow as fast as average. The BLS anticipates this growth to be 12 percent between 2008 and 2018, with individuals facing intense competition for higher level management jobs. While lower level management jobs may be less competitive, a business degree can help set individuals apart from other potential employee applicants.
Higher wages are often linked to positions requiring business management degrees. According to a 2008 BLS report, the median annual salary for administrative services managers was $73,520. Wage information was collected from individuals working as private company managers, hospital management, local government positions and college or university managers. The highest median annual pay was in the private company management field, where managers earn $85,980 annually, according to the BLS.
Individuals may choose to advance their education beyond their undergraduate degree. A master’s in business administration can help individuals deepen their understanding of business management theory and other similar topics. Higher education can also lead individuals to obtain professional certification, such as the certified manager (CM) or professional of human resource license. Professional certification often increases an employee’s job prospects and wage earning opportunities.
2016 Salary Information for Administrative Services Managers
Administrative services managers earned a median annual salary of $90,050 in 2016, according to the U.S. Bureau of Labor Statistics. On the low end, administrative services managers earned a 25th percentile salary of $66,180, meaning 75 percent earned more than this amount. The 75th percentile salary is $120,990, meaning 25 percent earn more. In 2016, 281,700 people were employed in the U.S. as administrative services managers.