What is business administration?
Business administration is all about understanding how organizations operate and thrive. It’s the process of managing people, resources and strategies to help companies achieve goals such as increasing revenue, improving efficiency or expanding into new markets. If you’re curious about how businesses make vital decisions, lead teams or solve complex challenges, then business administration might be your field.
The opportunities in this field are diverse, giving you the flexibility to explore a variety of industries, from tech and healthcare to finance and beyond.
Jobs in business administration
Demand in this field is booming and projected to grow. According to the U.S. Bureau of Labor Statistics (BLS), overall employment in the field of business and financial occupations is projected to grow faster than the average for all occupations from 2023 to 2033; about 963,500 openings are projected each year, on average.
Additionally, the median annual wage for this group was $79,050 as of May 2023, which is about $30,000 more than the median annual wage for all occupations.
Here are some key roles to consider with BLS pay data (as of May 2023) and growth projections:
Business analyst
- Business analysts focus on data-driven decision making. They analyze business processes, identify inefficiencies and recommend improvements to help organizations grow and operate more effectively. This role is perfect for those who enjoy solving complex problems and thinking strategically.
Employee training manager
- Employee training managers develop and implement training programs to enhance employees’ skills and knowledge. They ensure that teams are well-prepared to meet organizational goals, making this role vital for companies focused on continuous learning and development.
- Employment of the group that includes training and development managers is projected to grow 7% from 2023 to 2033, faster than the average for all occupations. The median annual wage for the role is $125,040.
General manager
- General managers oversee day-to-day operations across various departments, managing staff, budgets and overall business performance. This versatile role blends leadership and hands-on management, making it crucial to driving success in different industries.
- Employment of the group that includes administrative services and facilities managers is projected to grow 6% from 2023 to 2033, faster than the average for all occupations. The median annual wage for the role is $104,900.
Human resources manager
- HR managers handle recruitment, hiring and employee benefits while creating a positive work environment. This role requires a balance of strategic decision-making and interpersonal skills, perfect for those who excel at managing people and developing organizations.
- Employment of HR managers is projected to grow 6% from 2023 to 2033, faster than the average for all occupations. The median annual wage for the role is $136,350.
Purchasing manager
- Purchasing managers oversee the acquisition of goods and services, negotiating contracts and managing supplier relationships to ensure cost-effective procurement.
- Employment of the group that includes purchasing managers, buyers and purchasing agents is projected to grow 7% from 2023 to 2033, faster than the average for all occupations. The median annual wage for the role is $77,180.
Sales manager
- Sales managers lead teams to hit revenue targets, develop sales strategies and build strong relationships with clients. They play a crucial role in business growth by expanding market share and boosting customer satisfaction.
- Employment of sales managers is projected to grow 6% from 2023 to 2033, faster than the average for all occupations. The median annual wage for the role is $135,160.
