Highest-Paying Careers for a Business Major: Career Path Opportunities
Business majors can pursue roles in almost any industry upon graduation. Some high-paying career options for Bachelor of Business Administration (BBA) graduates include financial controller, human resources manager, operations manager and financial analyst positions.
An educational background in business can be beneficial in the United States, as business makes up the backbone of the economy. According to February 2016 data from PayScale.com, graduates of BBA programs worked in various positions in human resources, finance, accounting and general management. Out of these careers listed, professionals with the best earnings potential included financial controllers, human resources managers, operations managers, and financial analysts. While all these careers generally require a business bachelor's degree, some positions require prior experience.
Financial controllers are responsible for planning, directing and coordinating the financial activities from the perspective of a company's management. These business professionals develop and update financial forecasts, prepare monthly, quarterly and annual financial statements, close their company's monthly books in a timely fashion and oversee a number of aspects of a company's operation. Some of these aspects include accounts payable, inventory control, information technology, payroll, benefits and fixed assets.
In addition to earning a bachelor's degree, becoming a financial controller often requires having at least five years of business experience in finance. PayScale.com reported in February 2016 that most financial controllers earned between $50,249 and $113,480 annually. The median salary at the time was $76,344.
Human Resources Manager
Human resources managers help manage a business' benefits, policies and regulatory compliance. They may also supervise the recruitment of employees and maintain the functions of compensation, including salary or consulting. Unlike a financial controller, a human resources manager does not focus on finances but rather the business and management planning of an organization. This position usually calls for a bachelor's degree and at least five years of human resources experience.
In February 2016, PayScale.com reported that most human resources managers with a BBA degree earned between $41,143 and $87,740 a year. The Bureau of Labor Statistics (BLS) reported that the median salary for human resources managers in general was $102,780 in May 2014.
Operations managers work with human resources to help a business build relationships, coordinate procedures such as 401(k), employee training, preparing reports on investigative activities and maintaining current business practices according to local, state and federal requirements. These professionals are top executives usually have significant work experience and a bachelor's or master's degree.
Most operations managers with a BBA degree earned between $38,307 - $97,803 a year as of February 2016, according to PayScale.com. The BLS also reported that general and operations managers earned a median wage of $97,270 annually in May 2014.
Assisting individuals and companies with financial decision making, financial analysts pay close attention to business trends and examine financial data. These professionals may specialize in risk analysis, portfolio management, ratings analysis or fund management. Places of employment may include banks, insurance companies and securities firms. These professionals generally don't need work experience, and a bachelor's degree suffices unless one plans to work in an advanced position.
Most financial analysts with a BBA degree made between $41,743 and $77,648 as of February 2016, according to PayScale.com. The BLS reported a median wage of $78,620 for financial analysts as of May 2014.