Is business administration a good degree?
In an increasingly competitive job market, it is necessary for you to distinguish yourself from other candidates. Business administration programmes can help students develop critical thinking skills, which employers from all industries look for in their candidates.
In addition, this degree is known to effectively prepare students for the challenging world of business.
This article talks about what the future looks like for those with a business administration degree and how it can enhance earning potential.
Demand for business administration degrees in the future
To run a business smoothly, it is essential that a company has a strong administrative department and an effective management team. A business administration degree is designed to teach students how to organise, plan, direct and manage business functions and processes, which is why employers will seek out candidates with these skills.
Business administration degrees are becoming increasingly popular. This is because graduates of the degree are eligible to apply for leadership roles and are well-equipped to establish their own companies.
Reasons to opt for a business administration degree
- You will take away a number of transferable skills including communication, the ability to work in a team and data analysis;
- The degree is versatile and allows you to apply their knowledge to a variety of sectors;
- This qualification adds value to your CV and can help you to obtain a well paying job.
Career options after a business administration degree
Sales manager (average annual salary: €57,448) – Sales managers work to retain customers and to meet revenue targets. Those in this role should have a strong business sense and industry expertise to ensure a company’s competitiveness. Sales managers will introduce innovative solutions and technologies to make sure this happens. Besides achieving growth and hitting sales targets, they are also responsible for:
o Recruiting, training and monitoring the performance of sales representatives;
o Designing and implementing strategic business plans to expand the company’s customer base;
o Crafting a sales plan to maximise the potential of the sales team;
o Attending seminars, workshops and conferences;
o Identifying emerging markets and market shifts;
o Promoting long-lasting customer relationships.
Financial manager (average annual salary: €78,728) – Financial managers help the owners of a company make sensible business decisions in order to meet their long-term objectives. They guide the senior management group to develop plans to improve a company’s future financial state. Their day-to-day responsibilities include:
o Maintaining the financial stability of an organisation;
o Interpreting financial information for the managerial staff members;
o Analysing pricing and sales results;
o Implementing cost-reduction strategies;
o Preparing the company’s budget;
o Overseeing the operations of the finance department;
o Managing, guiding and leading employees of the finance department;
o Ensuring financial processes are implemented accurately.
Human resource manager (average annual salary: €49,322) – Human resources (HR) managers deal with employee-related issues. Their main responsibilities include managing activities such as:
o Job role development;
o Employee relations;
o Performance management;
o Training and development;
o Talent management.
HR managers work to ensure that employees are happy in their roles which is an essential component of building a productive company. Typical duties of HR managers include:
o Developing and implementing HR strategies;
o Addressing the demands, grievances or other issues of employees;
o Forming links between employee relations and management;
o Promoting corporate values and a positive culture within the workplace.
Food services manager (average annual salary: €59,293) – Food services managers oversee the daily operations of restaurants or other establishments that prepare and serve food and beverages. They aim to improve business profitability by establishing ways of making sure customers are satisfied. Besides coordinating the activities of the staff members, they also execute the following tasks:
o Hiring, training and assigning duties to kitchen and dining staff;
o Overseeing food preparation and its presentation;
o Managing the inventory that includes supplies of food and beverages, equipment and work areas;
o Resolving complaints and investigating issues related to food quality and service;
o Arranging cleaning and maintenance services for the equipment and facilities.
Healthcare administrator (average annual salary: €94,927) – Healthcare administrators (also known as health service managers) supervise medical services within hospitals and other healthcare facilities. They employ their in-depth knowledge of healthcare regulations and medical terminologies to carry out the following responsibilities:
o Preparation of accurate reports and monitoring the department’s budget;
o Overseeing day-to-day operations and recommending techniques to reduce costs;
o Developing work schedules for employees and informing them about new policies;
o Identifying and resolving issues among doctors, nurses and other healthcare professionals.
Marketing manager (average annual salary: €49,121) – Marketing managers will have extensive experience of working in the industry. In addition, they will have a well-developed knowledge of successful marketing techniques using both offline and online platforms. These professionals work to transform creative ideas into effective advertising projects. Their job responsibilities include:
o Employing a wide range of online and offline marketing channels to maintain a strong and consistent brand;
o Executing successful marketing campaigns;
o Analysing consumer behaviour;
o Building strategic relationships with agencies and vendors;
o Producing website content and blogs to attract target customers.
Are you interested in working in a role that requires you to lead a team and work towards set goals? Pursuing a business administration degree can help you get there!
This article was written by Deblina Dam and edited by Emma Chadwick.