Business management and administration majors have the educational background to lead in a fast-paced, rapidly changing business environment. As students, they have taken core classes such as accounting, marketing, management, project management and statistics. They have also studied business ethics, production management, and organizational theory and behavior. Having honed their critical-thinking and decision-making skills, these graduates command lucrative salaries in a variety of professions.
Median Annual Salaries
Business management and administration majors with a bachelor's degree earned a median annual salary of $58,000, according to “What’s It Worth? The Economic Value of College Majors,” a 2011 report published by Georgetown University. The 24th percentile earned $40,000, while the 75th percentile made $85,000. The report also noted that business management and administration was the most popular major among students.
Business management majors at the top rung of management earned the highest salaries. According to May 2012 wage estimates from the U.S. Bureau of Labor Statistics, top executives earned a whopping $176,840. Top executives include chief executive officers, executive directors, presidents and vice presidents. Top executives also include school superintendents, college and university presidents and general and operations managers. However, it may take several years of hard work to reach upper-tier positions and command such lucrative salaries.
Other high-paying careers for business management and administration majors are also management positions. For example, financial managers earned $123,260 according to BLS salary data, while sales managers made $119,980. Also, human resources managers earned $109,590, while actuaries made $106,680. In addition, training and development managers earned $103,810, while industrial production managers made $97,490.
Business management and administration majors who work in the financial industry also earned lucrative salaries. For instance, personal financial advisors earned $90,820, while financial analysts made $89,410. Management analysts, who recommend ways to make companies more profitable, earned $88,070. In addition, budget analysts made $72,100, while insurance underwriters earned $69,200 and cost estimators made $63,080.
Fair to Middling
However, not all business management and administration majors earned such lucrative salaries. Graduates who worked as tax examiners earned $50,050, while first-line supervisors of sales workers earned $49,910. Also, meeting, convention and event planners made $49,830. In addition, since business management and administration is the most popular major, competition is fierce for jobs that require or accept this degree. As a result, some graduates may have to accept other positions that pay much lower salaries.
- Notre Dame College: Business Administration
- University of the District of Columbia: Business Management
- Georgetown University: What’s It Worth? The Economic Value of College Majors
- U.S. Bureau of Labor Statistics: Management Occupations
- U.S. Bureau of Labor Statistics: May 2012 National Occupational Employment and Wage Estimates
- U.S. Bureau of Labor Statistics: Financial Occupations
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