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Online Business Administration Degrees and Careers
Business is the most popular choice for undergraduates.
Top Featured Schools
Capella’s signature FlexPath curriculum fits any schedule, even if you have full-time work or family obligations. Capella offers students rich financial aid and scholarship options to make earning your degree more affordable. Capella makes it easy to transfer existing college credits so that you can complete your business degree faster and at a lower cost.
Interested in a career in business? At Walden University, you’ll receive the holistic education you need for a variety of jobs in the field, through the school’s online degree in business. The school’s renowned faculty and student-friendly schedule will help working professionals complete their education quickly.
Earning Your Business Administration Degree Online
Compared to all other fields of study, business is the most popular choice for undergraduates. In 2013-14, 80% more undergraduate business degrees were awarded than in any other field of study. In regards to online study, business administration is even more popular, with upwards of 34% of online students choosing an online business administration degree, more than twice as many as the next most popular field. As the popularity of online learning grows, so too does the effectiveness of online delivery. Accredited educational institutions promise students the same quality degree online as they do on-campus, with the added benefit of flexible online study. An online business administration degree is usually offered with asynchronous class schedules, meaning students can study whenever they want and less travel to and from campus is required. While some schools do offer a business administration online degree with scheduled classes, meetings, and/or on-campus requirements, these are usually held during nights and weekends and are kept to a minimum for maximum convenience.
Job Outlook for Business Administration Graduates
The business world draws from a range of educational disciplines. Within the field, approximately 30% of employees have an online business administration degree and 10% have a master s degree in business. As with most careers, most business professionals have achieved some level of higher learning. The employment rate for new graduates of an online degree for business administration is about 90%. whereas it is only 82% for new high school graduates. The placement numbers jump to approximately 93% for new master s degree graduates. This ideal combination of low unemployment rates and high accessibility and availability of business careers led the National Association of Colleges and Employers to place business graduates in the greatest demand by employers in the field.
In addition to placement rates, a candidate’s level of education affects the median entry-level salaries earned in the business profession. According to Payscale, business professionals with an online associates degree in business administration have a median entry-level salary of $34,000. while experienced professionals with more than 20 years experience and an associate degree earn approximately $54,000. The entry-level median salary for those with a business administration online degree is $46,000 and the experienced professional s median salary is $80,000. a 48% increase from the associate degree salary. Finally, business professionals with a master s degree see another significant increase, starting out with a median salary of $58,000 and growing to a salary of $113,000 with experience, a 41% increase over the online business administration degree at the bachelor level.
While placement rates are not dramatically different for the bachelor s or master s degrees, the job outlook for more specialized positions that typically require graduate degrees is better, in many cases. The growth for business operations specialists, for example, a career that typically requires a bachelor of science in business administration online, is projected at 7% through 2024. the same as the national average. Compare that to the more advanced careers that typically require graduate degrees, such as management analysts, which expect considerable growth at 14% through 2024. an expected increase of more than 100,000 jobs.
Types of Business Administration Careers
Management careers fall into a number of different categories, but some of the best opportunities are in the fields of management consulting, top executive positions, and financial management. Since these professionals must be experts in their field, the positions usually require a combination of education and experience. While top executives create plans, strategies, and policies to allow companies to run more effectively and efficiently, consultants advise other managers and businesses on how to reach company goals. Financial managers optimize the financial health of their parent organization. The median salaries for these management positions are some of the highest in the business profession, averaging $81,000 for management analysts/consultants, $104,000 for top executives. and $122,000 for financial managers in 2016.
Due to the growing complexities of the field of finance, more individuals and companies require experienced professionals to help manage finances than ever before. For business students looking for a career in finance, some of the most promising opportunities are found in personal financial advising, financial analysis, and financial examination. These three occupations differ most in regards to the type of finance involved, as personal financial advisors work with individuals and their finances, financial analysts advise organizations on investment opportunities, and financial examiners often work for the government and overlook the compliance of financial institutions. In 2016, the median salary for personal finance advisors was $91,000. $82,000 for financial analysts. and $79,000 for financial examiners .
Marketing is one of the most common areas for business graduates because it is such a broad field. Careers are in market research analysis, marketing management, and advertising management are among the most popular jobs for business graduates with marketing experience. Whereas market research analysts study market conditions to better understand how a product or service will fit, marketing managers use their knowledge of the market to gauge the demand for products and services, and advertising managers use their knowledge of the market to create interest in a product or service. The median salaries for these positions in 2016 were $63,000 for market research analysts and $128,000 for both advertising and marketing managers .
The field of entrepreneurship can be limitless for a determined student. Self-employed professionals can use their business expertise to run their own business within a pre-existing industry, or simply create their own. Some of the most common business fields for self-employment are real estate, personal finance advising, and management consulting. Each of these fields require graduates to use their knowledge of both the general business landscape and the specific industry they re working in (housing, finance, or management). The median salaries for these three professions in 2016 were $57,000 for real estate managers. $90,000 for personal finance advisors. and $81,000 for management consultants .
Types of Business Administration Degrees
The field of business is dominated by professionals with a business administration online degree, both at the bachelor and master level (less than 1% hold doctorates). While there are entry-level options for people with associate degrees and/or certificates, most employers request a bachelor s degree as a minimum requirement. Real estate is one of the most flexible fields in regards to its requirements, often requiring a real estate license as a minimum. In real estate, 27% of professionals have a bachelor s degree, whereas 7% have a master s degree. That means as much as 64% possess only a real estate license. Still, real estate shows a similar return on educational investment as other fields, as those with a master s degree have a median salary that is 36% higher than lower levels of education.
Most other business fields are much stricter in regards to minimum requirements. In securities and commodities, 54% of the field have bachelor’s degrees. Another 16% hold master s degrees, earning a median salary that is 89% higher than those with a bachelor s degree. The field of marketing is made up of 51% bachelor s and 17% master s degrees. In marketing, the median salary increases 38% between bachelor s and master s degrees. With such significant financial gains to be found through earning a master s degree, both the options for online master s degrees and the number of professionals upgrading their education in the business world are rapidly increasing.