5 Staggering Facts About Business Administration Degrees

There are many reasons why people choose to earn a business degree. It allows them to get a well-paying job, build their career path, and obtain better employment opportunities.

With that being said, there have been some changes in the workforce that have made it even more important for people to know what they are getting into before they head down this path. If a person wants to succeed in business management or administration, here are just a few of the staggering facts about these degrees.

Business Administration and Higher Education

The business administration degree is the most popular program students pursue in higher education. It has been reported that the number of students pursuing this degree has increased by 45 percent since 1995.

The Bachelor of Business Administration degree covers topics such as marketing, finance, accounting, and management. In addition to these topics, it also includes a broad spectrum of business-related courses such as entrepreneurship, international trade, strategic planning, and entrepreneurship.

Jobs in Business Administration

There are a lot of jobs in business administration. If you want to find a job in the field, you can start by learning about the various types of businesses and industries that are open to hiring someone with a degree in business.

Some businesses include:

• Government agencies
• Nonprofits
• Technology firms
• Consumer goods companies
• Media outlets

These are just some of the many different kinds of companies that will hire someone with a degree in business administration.

If you wanted to work for one of these types of organizations, it would be beneficial for you to learn more about those companies and their specific requirements before pursuing a career in this field.

Types of Business Administration Degrees

1. Associate's Degree in Business Administration

An Associate's Degree in Business Administration is a two-year undergraduate program that provides students with a foundational understanding of business concepts and practices. The curriculum typically includes courses in accounting, marketing, management, economics, and business law.

Relevant Facts and Data:

• An Associate's Degree in Business Administration typically requires 60-70 credit hours of coursework.

• According to the Bureau of Labor Statistics, the median annual wage for administrative support and office occupations was $37,690 in May 2020.

• Associate's degree holders may qualify for entry-level positions in a variety of fields, such as customer service, sales, or human resources.

2. Bachelor's Degree in Business Administration

A Bachelor's Degree in Business Administration is a four-year undergraduate program that provides students with a comprehensive understanding of various areas of business, such as accounting, finance, marketing, and management. The curriculum typically includes courses in economics, statistics, business strategy, and organizational behavior.

Relevant Facts and Data:

• A Bachelor's Degree in Business Administration typically requires 120 credit hours of coursework.

• According to the Bureau of Labor Statistics, the median annual wage for business and financial occupations was $72,250 in May 2020.

• Bachelor's degree holders may qualify for entry-level positions in a variety of fields, such as marketing, finance, or human resources.

3. Master's Degree in Business Administration

A Master's Degree in Business Administration, also known as an MBA, is a graduate-level program that provides students with advanced knowledge and skills in various areas of business administration. The curriculum typically includes courses in finance, accounting, marketing, operations, and strategy.

Relevant Facts and Data:

• A Master's Degree in Business Administration typically requires 30-60 credit hours of coursework.

• According to the Bureau of Labor Statistics, the median annual wage for management occupations was $109,760 in May 2020.

• MBA holders may qualify for senior-level management positions in a variety of fields, such as healthcare, finance, or technology.

4. Doctoral Degree in Business Administration

A Doctoral Degree in Business Administration, also known as a DBA, is a research-focused program that prepares students for careers in academia or research. The curriculum typically includes coursework in research methods, statistics, and various areas of business administration.

Relevant Facts and Data:

• A Doctoral Degree in Business Administration typically requires 3-7 years of coursework and research.

• According to the Bureau of Labor Statistics, the median annual wage for postsecondary teachers was $80,790 in May 2020.

• DBA holders may pursue careers as professors, researchers, or consultants in a variety of fields, such as healthcare, education, or finance.

Business Administration Degrees and Salary

A business administration degree can lead to an increase in salary. A study found that these degrees are worth $1.5 million throughout their career, which is a 4 percent increase year over year. The average salary of someone with a business administration degree is $87,000 annually.

Business Administration Degrees and Job Security

A business administration degree offers the chance of a secure and stable career. It is desirable to have these degrees because they are vital to companies in building their workforce.

The demand for business administration degrees has increased significantly over the years, especially with the changes that have been happening in the job market. With more options available in today’s world, people are looking for well-paying careers that allow them to achieve success and security.

Another perk of earning a business administration degree is the ability to make a good living while still having time to enjoy life. Graduating from college can be tough on students as they may not have time to do certain things like see friends or even see their families because of all the work they have to put into their education. These degrees offer people the opportunity to earn money while also enjoying what life has to offer them.

Business Administration Degrees and Career Prospects

One of the many benefits of a business administration degree is that it’s one of the best ways to get a well-paying job.

Graduates with a bachelor's degree in business administration are expected to earn an average salary of $74,000. Not only that but there is also plenty of opportunity for growth. If a person gets a graduate degree in business administration, they will increase their salary by 37 percent over how much they would make without the graduate degree.

There are also many opportunities to build career paths and obtain better employment opportunities with these degrees. People who have graduated from these programs have been known to fill positions such as CFO and COO.

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And if you're looking for an accomplished career path, these degrees can provide those too! People with an MBA have more than twice the job satisfaction compared to those without one.

Fun Facts about Business Administration Degrees

• Business administration degrees are the most popular degrees.
• The top 10 colleges with a business administration degree have seen a 1,500% increase in enrollment since 1995.
• For every one business administrator graduating from college, there are three new jobs available.
• In 2014, the average salary for each graduate with a business administration degree was $54,000 annually.
• On average, people who earn their bachelor of arts in business admin get an average starting salary of $40,000 per year and those with a master’s can expect to earn around $64,000 annually after just one year of work.

Many people assume that if they earn a business administration degree, they will make a ton of money.

The reality is that the median salary for someone who graduated with a BA in Business Administration is $43,000/year. This seems like an insignificant number until it is placed in context. The median salary of a Business Administration major was $29,000/year.

Business Administration Degree Entry-level Jobs

1. Business administration degree holders will have a median salary of $59,000 in their first year out of school.

2. Job openings for business administration degree holders are expected to grow by 17 percent over the next decade.

3. There are more than 50,000 jobs in the United States that require a business administration degree or certificate.

4. The average salary for those jobs is $58,000 per year.

5. A bachelor's degree in business administration requires 4 years of study and can cost anywhere between $160,000 and $255,000 depending on which institution is chosen for the degree program and what type of financing is used to finance the education process.

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Top universities offering Business Administration Degrees

1. Harvard University

Harvard University is a private Ivy League research university located in Cambridge, Massachusetts. The Harvard Business School offers a full-time MBA program, as well as executive education programs, doctoral programs, and other degree programs.

Relevant Facts and Data:

• The Harvard MBA program is ranked #1 by U.S. News & World Report.

• The total cost of attendance for the Harvard MBA program is approximately $112,000 per year.

• The Harvard Business School has a global network of over 80,000 alumni.

2. Stanford University

Stanford University is a private research university located in Stanford, California. The Stanford Graduate School of Business offers a full-time MBA program, as well as executive education programs, PhD programs, and other degree programs.

Relevant Facts and Data:

• The Stanford MBA program is ranked #2 by U.S. News & World Report.

• The total cost of attendance for the Stanford MBA program is approximately $123,000 per year.

• The Stanford Graduate School of Business has a global network of over 32,000 alumni.

3. Massachusetts Institute of Technology (MIT)

The Massachusetts Institute of Technology (MIT) is a private research university located in Cambridge, Massachusetts. The MIT Sloan School of Management offers a full-time MBA program, as well as executive education programs, PhD programs, and other degree programs.

Relevant Facts and Data:

• The MIT MBA program is ranked #3 by U.S. News & World Report.

• The total cost of attendance for the MIT MBA program is approximately $150,000 per year.

• The MIT Sloan School of Management has a global network of over 120,000 alumni.

4. University of Pennsylvania (UPenn)

The University of Pennsylvania (UPenn) is a private Ivy League research university located in Philadelphia, Pennsylvania. The Wharton School offers a full-time MBA program, as well as executive education programs, PhD programs, and other degree programs.

Relevant Facts and Data:

• The UPenn MBA program is ranked #4 by U.S. News & World Report.

• The total cost of attendance for the UPenn MBA program is approximately $105,000 per year.

• The Wharton School has a global network of over 99,000 alumni.

5. Columbia University

Columbia University is a private Ivy League research university located in New York City, New York. The Columbia Business School offers a full-time MBA program, as well as executive education programs, PhD programs, and other degree programs.

Relevant Facts and Data:

• The Columbia MBA program is ranked #5 by U.S. News & World Report.

• The total cost of attendance for the Columbia MBA program is approximately $111,000 per year.

• The Columbia Business School has a global network of over 46,000 alumni.

These are just a few examples of top universities offering Business Administration degrees. It's important to note that there are many other excellent universities and programs available, and students should carefully consider their options before making a decision.

Conclusion

Business Administration Degrees are a great way to start a career in the growing field of business and management. The great job opportunities, high salary, and job stability make this a smart choice for your future. The fun facts about business Administration degrees are what make this degree a must-have for the savvy entrepreneur.

Now that you know the staggering facts about Business Administration degrees, what’s next? Once you have your degree, you have created the perfect foundation for your future. Flexible degree options in business administration, management, and administration make this an easy decision.Knowledge and skills learned in a business administration degree are applicable in many other fields and careers.