Benefits of Earning a Degree in Business Administration

Choosing a college degree plan can be a real challenge. You may have a general idea of what you’re interested in studying, but perhaps you aren’t quite sure whether that degree would be a smart move, or even what to specialize in within that field. While the degree you study should be aligned with your interests, one popular degree field to explore is business administration. This type of degree is popular because it can lead to opportunities in a wide range of fields — and offer a wide range of specializations. 

If you’re weighing the possible benefits of a degree in business administration, you may be asking yourself questions like, “Is business administration a good major?” or “What can you do with a business administration degree?” There are a number of other specialized degrees you can earn within business — like an accounting or marketing degree, for example — but in general, a business administration degree can be a good choice because allows you the option to both specialize in and learn about many different elements of business, rather than drilling only into one part of the field. That alone can set this degree apart from the other business degree options.

Plus, a degree in business administration can lead to a solid career path after graduation. Data from the Bureau of Labor Statistics shows that business professionals of all kinds make, on average, more than $50,000 a year, with more specialized roles offering much higher salary ranges. And, a bachelor’s in business administration is a foundation on which many people build very lucrative careers. Read on to learn more about what possible benefits this type of degree can offer you. 

What Is a Degree in Business Administration? 

Business administration degrees focus on teaching you the aspects of running or managing a business, from the way you manage people to the way you find customers or ensure profitability. This degree plan is designed to give you knowledge on all core business functions, from general business administration to accounting, finance, marketing, project management, human resources, international business, and other business-related areas. 

These degrees are offered at a wide range of colleges and universities, and both large and small business schools have degree programs in this field. In most cases, these programs offer a mixture of excellent networking opportunities and class sizes to fit your needs.

What Does Someone With a Degree in Business Administration Do? 

There are a wide range of roles you can pursue with a degree in business administration, which means that your daily tasks after this degree could vary widely based on where you gain employment, what your role is, and how large or small the company is. 

If you earn a degree in this field, some common employment tasks you might be responsible for include:

• Creating and maintaining systems to track business objectives and finances
• Managing teams in order to achieve high productivity
• Creating reports and sharing financial data about the needs of the company
• Set and monitor goals for projects and teams within the company
• Communicate with stakeholders, team members, and customers
• Assist or oversee facets of HR, like hiring, exit interviews, or benefits administration

The Benefits of Studying Business Administration

There are a number of benefits you may see from studying for a degree in business administration.

A wide range of career paths

Business administration gives you a wide-reaching foundational knowledge that allows you to gain employment and grow in a variety of business niches. While you may take courses during your major that help you to choose a specialization, your first few jobs after earning a business administration degree can help you find your own favorite area of the business world.

The options for employment in this field may include: 

Healthcare

The complexities of healthcare insurance, the wide range of healthcare providers, and the sheer number of employees needed within healthcare systems all require business leaders with excellent attention to detail in administration and operations. Whether you are an office supervisor at a medical practice or one of a large team of administrators at a hospital, your business skills are key to keeping a medical business solvent and functional. The career path for medical and health services managers is growing at an astounding 32% over 10 years, which signals an enormous need for employees in this field.

Technology

Tech companies are much more than just programmers in a room, and the business needs at these types of companies are no less than at any other company. Business administration degrees can help you successfully market a tech solution, keep your employees well-paid and happy, and coordinate project schedules so that they release on time and as expected.

Consumer goods and services

Consumer goods companies need strong business administration professionals to do everything, whether that’s running organized offices or managing the financials to make sure that the goods and services are priced correctly.

Financial services

Companies that offer financial advice, administer financial products like mutual funds, or offer other financial services need strong business administration professionals to manage team members and monitor finances, as well as to run logistics and market services to either other companies or to the public. 

Insurance services

Insurance is a large industry that relies on the combination of financial and business know-how that business administration experts possess. Insurance companies of all kinds need professionals to keep their office records strong, understand and mitigate risk in how they offer insurance, and market their services. 

The potential pay range

Business administration degrees often lead to careers like management analyst, purchasing agents, HR professionals, and marketing specialists. According to the Bureau of Labor Statistics, all of these careers tend to pay $60,000 or more on average, with the 90th percentile of people with these roles making over six figures.

The growth in this field

From 2019 to 2029, business and financial operations are projected to grow by 5%, adding about 476,200 jobs to the mix, according to the BLS. Given how large this field is now, this continued growth bodes well for those pursuing the benefits of a business administration degree.

Day-to-day challenges

Among the benefits of a business administration degree is the opportunity to do something slightly different every day. Many business administration careers include a variety of responsibilities and allow you to apply creative problem-solving to different challenges as they arise. This can be particularly valuable for workers who crave variety in their job duties along with the opportunity to grow.

Opportunities to transition to new things or gain further education

If you work in business administration within one industry, it is quite possible to move laterally into a different industry when you desire a change. Depending on the particulars of your experience, you may start in a new industry with a lower level of responsibility, but many people value the ability to keep their options open for the long run. The same is true for continuing your education. If you realize that a particular area in business appeals to you after acquiring a bachelor’s in business administration, you can choose to pursue an MBA or another business degree and hone your skills for a different aspect of the business world. 

Upward mobility

While some specialist career paths may have limited opportunities for gaining promotions or title changes, business administrators have a lot of room for moving up. Because administration encompasses both on-the-ground, entry-level roles as well as management and C-Suite roles, showing interest in advancement and the capacity to handle responsibility can help you progress and gain both prestige and higher pay over time. 

What Other Types of Business Degrees are Available?

Business degree options range from a bachelor’s in business to master’s programs in business administration, and within these parameters there can be a variety of concentrations. Some of the most common are business accounting, finance, marketing, logistics, supply chain management, and international business. 

Each degree requires you to take some fundamentals classes to help you understand the business world, and will then focus on particular aspects of running a business, from how to track revenue, profit, and expenses in accounting classes to how to conduct business in international markets in international business classes.