High Paying Jobs That You Can Get With a Business Administration Degree
A business administration degree can lead to a number of high-paying jobs. If you are looking for a career that offers both financial stability and job satisfaction, then consider pursuing a business administration degree. Read on to know some of the attractive employment prospects you can get with a business administration degree.
Business Operations Manager
The best way to put your degree in business administration to work while raking in a lot of money is probably by becoming a manager in your workplace. A managerial position is cited by Victoria University Online as one of the possible job titles that Business Administration degree holders can achieve.
Businesses need managers so they can focus on what they do best instead of wasting time trying to supervise lower-level staff members. As a result, some companies are willing to pay big bucks for good managers.
You’ll likely have to take on a lot of responsibility if you want the opportunity to manage just about everything in your company, but all the money you make will definitely be worth it. A Business Operations Manager can have an average income in the range of $80,000 – $90,000 annually.
An investment banker is an attractive career path for individuals with a business administration degree. An investment banker typically oversees the stock market and makes recommendations to clients on what to buy or sell, when to buy or sell, and at what price.
The best-known names in this industry are Goldman Sachs, JP Morgan, Citigroup, Credit Suisse, Deutsche Bank AG, UBS AG, Macquarie Group Limited, etc.
Investment bankers are always moving around the world looking for funding opportunities for mergers and acquisitions while also trying to finance the companies they work for, which is why it’s easy to get into these types of firms even if you don’t have an MBA. An investment banker has an average annual salary of $180k-$250k.
Commercial Loan Officer
A commercial loan officer ensures that businesses have the money they need to run their operations. They will base these loans on an assessment of a company’s financial history and future business plans, as well as the borrower’s character and credibility.
Lending institutions typically have commercial loan officers in various capacities, but large banking institutions like Wells Fargo or Bank of America may hire them directly. Average salary? Around $90k-$120k annually.
A banker is someone who manages money for individuals, companies, or local governments. Their job involves assessing potential borrowers’ creditworthiness and then setting up repayment terms that work best for both parties.
Most bank employees get their start at smaller banks with less responsibility, but larger banks might require previous experience in order to get hired. They can also get experience by working at an institution that has nothing to do with finance but works in a similar capacity.
An example would be the relationship managers who work for clothing companies and retail stores. Bankers earn an average of $85k-$110k a year.
A Loan Officer is someone who is in charge of arranging loans between clients looking for money with banks or private lenders willing to loan it out. This can be done for almost anything from buying a car to starting their own business, moving house, or even paying college tuition fees.
A loan officer will base their decision on all aspects of your financial situation including your income, how long you’ve been employed by your current employer (or self-employed), and any other outstanding debt you might have like credit card bills and student loans.
They will also consider the reason for your loan, how much you need to borrow, what you are using it for, and any collateral that can be put up to secure the bond. A loan officer’s average salary is $65k-$95k.
Financial Analyst (CFA)
If you are looking for intellectually stimulating work, then becoming a financial analyst may be ideal for you. Financial analysts conduct research and produce reports about potential investments for companies and individuals.
They may also make recommendations regarding asset allocation, diversification, and risk management using quantitative analysis tools such as econometric models.
A strong knowledge in finance, accounting, and analysis is needed to become a successful analyst. Being a CFA comes with an attractive average salary range, $90,000-$120,000.
A controller or chief financial officer is primarily responsible for maintaining accurate records of every aspect of the company they work with. They also handle payroll duties, including tax filing and payment.
A controller will also be responsible for developing and implementing business strategies that focus on the company’s financial performance. A strong understanding of finance, accounting, and taxation is necessary to become a successful controller or CFO.
A business administration degree can help you gain all the skills needed to become an effective controller. Your broad knowledge of finance and people management will give you a strategic edge in your career as a controller or CFO.
Being tasked to monitor and manage the financial operations of a company is of critical importance, and companies will accordingly reward their controllers or CFOs with competitive pays. There can be various factors at play that can influence the pay rate of CFOs, but the U.S. average is around $160,000 to $190,000 annually.
Chief Executive Officer (CEO)
The chief executive officer is the highest-ranking member of an organization. A typical CEO will be responsible for long-term planning and high-level decision-making.
They also work with senior management to develop policies and guidelines for the organization. A CEO is usually responsible for making sure the company’s mission statement is met.
A large part of their duties will involve financial decisions, such as being accountable for investor relations and managing economic growth within an enterprise. To become a successful CEO, you need to have extensive management experience and strong leadership skills.
A business administration degree can help you develop all the skills needed to become a successful CEO in any industry type. Your in-depth knowledge of finance and people management will be extremely useful when handling the daily operations of your organization.
The average income of a person working as a Chief Executive Officer in the United States is typically around $210,000 or higher, depending on various factors.
A business administration degree can help you develop the skills needed to work as a financial analyst. Your extensive knowledge of finance, data management, and business will enable you to provide valuable insights for your company or clients.