Highest Paying Jobs with a Business Management Degree

Highest Paying Business Management Jobs

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Business management is a field that appeals to many students. After all, every business needs managers, so it seems clear that management students will be able to land jobs upon graduation. That may not be a guaranteed outcome, but there are many terrific jobs students can land with a business management degree; and here are some of the highest paying business management degrees.

Students should keep in mind that, because there are many different sorts of business managers, there are also many different business management degrees. Students may focus on hospitality management, for instance, or information technology management. Marketing, finance, and human resources students will also have management potential as they pursue successful business careers.

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How to Prepare for a Business Management Career

Business management careers can be entered into in many ways. For some, simply working up from an entry-level position can result in a satisfactory business management career. However, for certain success, there are more steps that students should consider.

One of the most important steps along the way to success in business is earning an education. During one's high school years, it’s important to go as far as possible with mathematics, while also taking advantage of any business-related electives offered. These days, some high schools offer the option of taking dual-credit courses at a local community college. This may provide an opportunity to take accounting, marketing, or business management courses.

A college degree is probably the best launchpad for success in business. Some may start with an associate business management degree from a local community college. This is a great approach, but a bachelor's business management degree is the optimal kicking off point. During a business management degree program, students should consider at least one business management internship program.

Finally, business management degree students should aim for a master’s degree. A master’s business management degree, or an MBA (Master of Business Administration) is a de facto requirement for upper management jobs in business firms.

Is a Degree in Business Management Worth it?

Students always want to know if a college degree is worth it. While there are never any guarantees that a business management degree is worth it, it’s always good training for life. It may also be the case that a business management degree is not suitable to one's immediate environment. In fact, most students find that they must move away from home or their college's town to start their business management careers.

Sometimes, this will mean that students end up working in industries or businesses that they didn't initially intend. While this may seem sub-optimal for some, many students find that exploring a new industry is a welcome way to learn and develop their business skills and knowledge. In fact, the industry one starts in isn't necessarily where one stays forever. Many students return to school for their MBA after two or three years and then leverage both their experience and their master’s business degree into their dream job in their dream industry.

Ultimately, while there is no career guaranteed by a business management degree, a college education is one thing that never goes away. The knowledge from a business management degree can serve the student in various ways for a lifetime, even if not in the way they initially desire. That can even mean in ways that far exceed expectations.

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Job Outlook in Business Management

Business management is a field that will continue to grow alongside the economy. Every business needs management to oversee operations, marketing, human resources, and other aspects of a business venture. Thus, many management sectors will grow as fast as average, according to the Bureau of Labor Statistics (BLS).

There are exceptions, of course. For instance, BLS data reflects great growth in some areas. Computer and Information Systems Managers are slated to experience 15% growth in the years between 2022 and 2032, yielding 86,000 additional jobs in the sector. Naturally, IT is still an area that is experiencing phenomenal growth. Older industries, such as lodging, will add 3,400 new jobs between 2022 and 2032, a 7% increase.

Without going through each employment sector, as defined by the BLS, it's safe to say that business management is an area that will grow somewhere between 5% and 7% over the next nine years (as of this writing). This can be a good basis for confidence for business management students who are seeking positive outcomes upon graduation.

Students who are interested in business management can start focusing on their preferred industry while still in school. There are programs that cover business management in a general way, but there are business management degrees that focus on specific industries or fields such as human resources, construction, hospitality, and even sports management.

How to Get a Job in Business Management

There are many ways to get a job in business management. Some businesses will bring new managers on from their existing pool of workers. Other businesses that have a more complex system have management training programs that recruit the best college graduates to onboard along with a new team of management professionals. Future management professionals can take steps to support their long-term success.

One of the best ways to get a job in business management is by earning a business management degree. This can be an associate degree, a full four-year undergraduate degree, or a master’s degree, including an MBA. Those who start with an associate degree can do very well when they start off with an entry-level position. They may need more training later, but a two-year degree is often enough to impress an employer when a management position opens.

Bachelor's business management degrees may be the sweet spot for students. Employers love to take on new managers who have a full four-year degree for their management training programs. Further, bachelor's business management degrees offer students the opportunity to expand their knowledge base with courses in related fields, such as accounting or economics, while also taking specialized courses in the industries they care the most about. Those with degrees in this field can work in human resources or as a marketing manager or sales managers.

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Well-Paying Business Management Careers

  • Chief Accounting Officer (CAO) - $195,437
    This is a position that accountants work hard to achieve. CAOs often have at least five years of experience, but ten years is probably closer to the expectation. CAOs frequently must have a master’s degree in accounting, but many have an MBA, if not a dual master’s in both accounting and business administration.
  • Chief Investment Officer - $187,874
    This is a top-level business management position that is awarded to finance professionals who have helped their firm bolster their bottom line. CIOs tend to have an industry focus and have spent over ten years in that economic sector. A master’s degree in finance or an MBA are de facto requirements for this position, which will do more than just look at financial reports.
  • Emergency Management Director - $161,105
    Unfortunately, our environmental situation is making this a growing part of the employment picture. Aspiring emergency management directors may want to study either emergency management or public administration. An undergraduate background in emergency management followed by a master’s degree in public administration may be ideal.
  • Chief Executive Officer - $159,900
    This is a top-level, C-suite position that has a very high profile. CEOs are responsible for every part of their company so they need to have a broad base of business knowledge and the ability to delegate responsibilities to the best experts.
  • Chief Operating Officer - $146,420
    Operating officers have risen through the ranks as operations managers, and perhaps entry-level employees before that. COOs keep businesses humming on a day-to-day basis. They make sure inventories are stocked and that workers have the tools they need to succeed.
  • Chief Financial Officer - $145,060
    Students who are aiming for this C-suite position should start with an undergraduate degree in finance and then an MBA with a finance concentration. CFOs usually have over ten years of experience with a proven track record of excellence.
  • Chef Credit Officer - $144,186
    Businesses often keep the doors open by maintaining their credit lines. Credit officers maintain the loans and loan payments their company is obligated to service on a monthly, quarterly, or annual basis. An MBA with a finance concentration is often required for this position.
  • VP of Finance - $143,458
    A vice president of finance usually needs to have a long track record of success in managing their organization's accounts. The vice presidency will typically go to professionals who have at least five years of experience in addition to an MBA with a concentration in finance.
  • Internal Audit Director - $136,582
    These business administration experts help their organization maintain focus and profitability with regular assessments of their management, finances, and operations. To succeed in this profession, a master's degree in accounting will be invaluable. Others may choose an MBA with a focus on accounting.
  • Computer and Information Systems Manager - $127,060
    Information technology professionals with an MBA are good candidates for this position. CIS managers have at least five years of experience in information technology and a proven track record as a supervisor or project leader.
  • Lodging Manager - $114,006
    Managing a hotel or a resort is a big job. Hotels like to hire seasoned professionals or students with business management degrees from accredited business programs. Lodging managers who work for large hotel chains may find themselves traveling all over the world.
  • Regulatory Affairs Manager - $108,879
    This position demands a large legal knowledge base. Professionals are also savvy with using legal research tools and can communicate updated requirements to their team, firm, or company. The best regulatory affairs managers can anticipate upcoming regulations and are aware of what regulators expect.
  • Budget Director - $103,937
    This is essentially a finance position in which the director oversees their firm's operations to ensure that they remain within their budgetary constraints. They may perform formal or informal audits to see where inefficiencies are causing the team to go over or under budget.
  • Natural Sciences Manager - $93,460
    These science professionals oversee laboratories or other environments where scientists are at work. In a laboratory setting, they may hire and recruit new lab assistants and top scientists, too. They also oversee the purchase and maintenance of lab equipment, from beakers and burners to high-end equipment.
  • Risk Manager - $92,852
    These professionals make sure that their firm manages its risk with regards to finances or on-the-job hazards. Risk managers help to reduce the firm's cost of insurance and payouts in the case of a problem. Financial risk managers seek to hedge bets with financial instruments such as bonds, short-selling, and asset purchases.
  • Management Consultant - $92,320
    These business management experts help their client companies streamline and improve their management. They review the financial statements and may even interview employees to see where changes can be made. Most management consultants have an MBA.
  • Compensation and Benefits Manager - $92,144
    These human resources managers are vital to every organization. They ensure that employees are properly paid and that their benefits packages are comprehensive and affordable. They often need to have strong negotiation skills to get the very best deal in benefits for their company.
  • Information Technology Manager - $90,222
    IT workers with a significant record of success may be promoted to management. Companies often will want three or more years of experience before they recruit a person from within. An MBA or other management degree will also help.
  • Training and Development Manager - $80,873
    Each organization needs a person to spearhead training and development activities. Most will want to recruit a person with a human resources degree and experience in the field.
  • Risk Management Specialist - $78,818
    This is an entry-level position in the risk management field. To succeed, risk management specialists need a degree in business with a focus on risk management.

Other Career Options

  • Advertising, Promotions, or Marketing Manager - $78,468
    These managers should have a degree in marketing or public relations. Since this field is divided between the creative and analytical sides, managers may have a specialty on one side but should be very knowledgeable about the other.
  • Logisticians - $77,030
    These supply chain managers help their company send goods through various supply channels. They may also be found managing manufacturing processes, ensuring that a product is properly made and delivered. Logisticians need a bachelor's degree in logistics or supply chain management, but they may need an MBA to progress further.
  • Industrial Production Manager - $75,847
    Production managers oversee the machinery and processes of their manufacturing facility. They may ensure that the manufacturing equipment is operating properly, receives regular updates, and has parts replaced in a timely fashion. These managers also oversee the firm's human workers.
  • Project Management Specialist - $74,278
    These management professionals work with consulting firms and other companies. They work on a per-project basis. They make sure the best minds are on the job and can execute the project's aims with efficiency. For their best success, project managers often earn special certifications.
  • Medical and Health Services Manager - $72,702
    This is a special area of management that often requires a special healthcare administration degree and/or experience in healthcare systems. Many of these managers come from the clinical side and have special insights into the hands-on delivery of care.
  • Purchasing Manager - $72,194
    These management professionals oversee their organization's purchasing activities with regard to supplies and equipment. Retail purchasing managers oversee what inventory hits their shelves.