Getting a bachelor’s degree in business administration is one of the most popular moves for college students today. When you have this business degree, you can launch your career in many different industries in various administrative and managerial roles, from public to private to nonprofit organizations. This gives you the chance to gain very valuable experience in industries that interest you, and earn a very good salary while you do it.
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Below are 14 jobs that are available to you with a bachelor’s degree in business with the best salaries.
1. Operations Research Analyst
An operations research analyst is a problem solver at a high level in an organization. He or she uses advanced business analytic techniques, such as data mining, optimization, statistical analysis and mathematical modeling to devise new business solutions that assist businesses and organizations to operate in a more efficient manner.
For instance, the company UPS utilizes operations research to observe how packages flow to their destinations, which provides the company with real time guidance to drivers. This helps to plan and manage how packages are distributed, which leads to better service and better profits.
The Bureau of Labor Statistics (BLS) reports that job demand for operations research analysts will soar by 30% by 20226, which is much faster than average. The unemployment rate in this field is only 2.6%, and the median salary is $78,600.
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2. Business Operations Manager
A business operations manager is one of the go-to people in the organization. Business operations managers help the different departments in the organization to stay coordinated to meet company goals. All businesses need effective business operations managers. Typical duties for these critical workers include:
- Hiring people
- Negotiating business contracts
- Addressing budget issues
- Understanding business operations
- Guiding different business teams for company projects
- Make strategic decisions about what customers will most likely by
- Create company policies that assist the staff to operate in an efficient manner
US News and World Report states that the unemployment rate in this field is 3.9%, and the median salary currently is $97,700.
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3. Financial Manager
Financial managers are in charge of the overall financial health of the organization. They are generally responsible for producing financial reports, directing investment activities, and developing investment and business strategies for the long term financial health of the organization.
The role of the financial manager is changing a good deal because of the major technology advances in recent years. It no longer takes nearly as long to produce financial reports, and thus today the major role that financial managers have now is to perform rigorous data analysis and provide advice to senior managers on how to increase profits. Many financial managers work in teams and act of close business advisors for upper level managers.
Financial managers will see strong job growth through 2026, with 19% job increases expected. The median salary is $121,750, with people in the professional, scientific and technical services making the most at $142,300 per year.
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4. Controller
A controller is responsible for the preparation of financial reports that give summaries of the organization’s financial health and position. Some of the reports that the controller manages and creates include income statements, balance sheets, and detailed analyses of future expenses and earnings.
The controller needs to have the skills and knowledge to guide the organization’s financial decisions, and is an extremely important part of the organization.
Controllers also are responsible for the preparation of special reports that are mandated by federal agencies that regulate most types of businesses. Controllers also typically oversee auditing, accounting and budgetary departments.
A typical controller salary is in the range of $115,000 for 2017.
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5. Management Analyst
Management analysts are usually hired on a contractual basis to determine ways to improve the efficiency of an organization and enhance profits. Management consultants and analysts analyze and collect data about the way the company operates. He or she then recommends changes that will reduce costs or increase revenue. Consultants frequently present suggestions that they have in an oral presentation or in a written report.
It is anticipated that management analysts will see strong job growth of 14% in the next several years, with a median salary of $81,300.
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6. Personal Financial Advisor
Financial advisors regularly meet with clients to provide them with advice about their finances. This may mean sitting down and creating a budget, discussing investment options or helping people to make plans for their retirement. Some financial advisors may also help the client to invest their funds and to meet with them on a quarterly or yearly basis to discuss their investments.
Some personal financial advisors also may have a license to sell insurance. Most financial advisors help their clients to plan for a safe, comfortable future, but in some cases, the advisor may be called upon for help with an aging relative, or perhaps the couple is getting a divorce. Financial advisors also have the training to help people deal with these types of financial challenges.
Financial advisors are seeing very strong growth today, with US News and World Report stating that unemployment in the profession is a mere 2%. The median salary as of 2017 is $89,000.
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7. Budget Analyst
A budget analyst is responsible for assisting public and private organizations to better organize their finances. They may work with universities, businesses and governments on how to organizes budgets and finances more efficiently.
Budget analysts prepare special and annual reports, as they evaluate new budget proposals. Also, they must analyze data to determine the benefits and costs of various new programs. Then, they must recommend levels of funding based upon what they find. Government officials and/or top executives usually make decisions about the budget for an organization, but they must rely on the accurate work of budget analysts to organize the information for those critical decisions to be made.
Budget analysts often use cost-benefit analyses to review various finances requests and to evaluate programs. They also often look at budgets in the past and research financial and economic developments that will affect the entity’s expenditures and income.
Jobs for budget analysts will grow by 7% by 2026, which is about as fast as average. The median salary is $73,800 as of 2016.
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8. Financial Analyst
Financial analysts are responsible for keeping their fingers on the pulse of their company’s financial condition. They also are responsible for advising business and individual clients about when to buy and sell investments and to generally stay up to date on business news, economic trends and company strategies.
Financial analysts also write financial reports that explain their financial analyses to stakeholders, and share their knowledge with colleagues who may not be experts in finance.
Many financial analysts work for financial services companies and insurance organizations. These business professionals are paid well, but tend to work 50-70 hours per week.
This field is expected to grow by 12% by 2026, and the median salary is $80,300.
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9. Market Research Analyst
A market research analyst assists clients to determine who their customers are, what they want and how much they will pay for a product or service. Analysts draw such conclusions with methodologies such as surveys and focus groups, and also new Internet-driven technologies.
Market research analysts create reports on sales trends as well as consumer preferences, demographics, buying habits and needs. They need to have skills in presenting findings to clients in a way that is easy to understand. It is important to understand that part of this job is collecting and analyzing data, which is quantifiable. But gauging why the audience is or is not attracted to a product requires emotional intelligence.
BLS states that this job will see strong 18.6% job growth through 2026. The median salary is $62,150.
More salary details can be found here:
- Marketing Analyst
- Marketing Communications Manager
- Marketing Coordinator
- Marketing Executive
- Marketing Manager
- Marketing Specialist
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10. Loan Officer
Loan officers offer advice and evaluate and authorize loans to businesses and people. For example, a loan officer helps clients to buy a home, car or to finance a college education.
Loan officers work in many settings: commercial banks, credit unions, mortgage companies and car dealerships. This is a profession with a lot of paperwork and managing of logistics, and it requires strong communications skills. Borrowing money is a stressful experience for clients, and it is important for loan officers to help clients relax during the process while still providing them with an education on the process.
BLS states that job demand will be an average 8% through 2026, with 24,500 new jobs in the coming years. The median salary is $63,400.
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11. Compliance Officer
Compliance officers ensure that companies and other organizations stay in compliance with laws, regulations and internal company policies. In the financial field, these jobs are especially in demand today as the US government is increasing enforcement of anti-money laundering laws.
Compliance officers are common on Wall Street and in the US government, but they also work in many industries across the country, such as telecommunications, healthcare, public health and oil and gas. Typical duties include identifying the risks that a company faces, designing new controls to reduces such risks and report how effective the controls are. Compliance officers can be employed by the company they are reviewing. They also can work for contracting companies or the government.
This job features a low unemployment rate of 1.7%, and the median salary is $65,600.
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12. Social/Community Service Manager
Social and community service managers work can take many forms. They can work directly with a group of people, such as the homeless, and try to find the gaps and problems in the services that are provided for that population. They also may conduct research and design to address various problems for that community.
This role commonly involves analyzing data, writing grants, and mentoring and overseeing staff. Many social and community service managers act as the voice for this community, and may even speak to stakeholders in the government about certain issues in the community.
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13. Cost Estimator
Cost estimators are responsible for calculating how much a service or product will cost, as well as what it costs to construct, manage and produce it. Almost every launch of a new product or service needs a cost estimator to produce an estimate of what it will cost and perform analysis of why it will cost that amount.
Cost estimators are used to estimate and analyze the prices of everything from aircraft to electronics to government programs. Cost estimators may also perform cost analysis of something that already costs a certain amount, or perform an analysis of why a product is costing more to produce than estimated.
Many cost estimators are employed in building construction or for contractors in the building equipment industry. Cost estimators do not provide advice to companies about prices or about investment decisions. They are simply collecting and analyzing data to determine the time, labor and resources needed to produce a product or service.
This job will grow by 9% by 2026, and the median salary is $60,300.
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14. Medical and Health Services Manager
Medical and health services managers plan, direct and coordinate services to keep nursing homes, hospitals and group practices running on time and on budget.
Medical and health services managers typically have a business background with a focus on the healthcare system. It is possible to get an entry level position as a coordinator with a business degree, but a master’s degree or MBA degree and experience in healthcare are required for upper level management roles.
Medical and health services managers need to have good communications skills as they have to work with various healthcare system stakeholders: doctors, nurses, insurance representatives and so on.
This field will see at least 18% growth in the next several years, with more than 56,000 new jobs expected. The median salary is $94,500.
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References
- All You Need to Know About Controller Salary Levels. (n.d.). Retrieved from https://www.roberthalf.com/blog/salaries-and-skills/all-you-need-to-know-about-controller-salary-levels-jobs
- 15 Best Paying Jobs for College Business Majors. (2016, September). Retrieved from http://www.thinkadvisor.com/2016/09/20/15-best-paying-jobs-for-college-business-majors-fo
- Financial Managers. (2015, Dec. 18). Retrieved from https://www.bls.gov/ooh/management/financial-managers.htm
- Best Business Jobs. (2017). Retrieved from https://money.usnews.com/careers/best-jobs/rankings/best-business-jobs
