Career Options for Business Management Professionals
Individuals with an undergraduate degree in business administration usually have a diversity of knowledge and skills in the areas of finance, communications, marketing, information technology, and more. This background can enable a business management professional to move into an array of careers as a manager, analyst, or consultant. This article takes a look at options in the fields of business, finance, sales, and marketing, examining the qualifications and responsibilities for each.
|Job Title||Mean Annual Salary (2018)*||Job Growth (2016-26)*||Qualifications|
|Financial Analyst||$100,990||11%||Possible CFA certification and Master of Business Administration|
|Sales Manager||$140,320||7%||Professional sales experience|
|Marketing Manager||$147,240||10%||Professional marketing experience|
|Management Analyst||$94,390||14%||Possible CMC certification and Master of Business Administration|
Source: *U.S. Bureau of Labor Statistics (BLS)
A business management professional with an interest in the banking and finance industry can move in the direction of being an investment expert in the role of a financial analyst. They follow economic trends, examine client portfolios and financial statements, and advise clients on investment options. Some specialize in either buy-side or sell-side analysis; a buy-side financial analyst creates investment plans for large investors, while a sell-side financial analyst handles the sale of investments such as stocks and bonds. Those who don't wish to focus exclusively on buy-side or sell-side may find work in a media or research firm. For advancement, financial analysts may want to pursue a general Master of Business Administration (MBA) or one with a focus on finance. Some employers also recommend Chartered Financial Analyst (CFA) or similar certification.
A talent for sales may direct a business management professional toward the career of sales manager. Sales managers provide a supervisory role for a company's sales team, setting goals, providing necessary training, analyzing sales statistics, and recruiting new staff. They critique the effectiveness of current techniques and create plans for improving sales and service. A sales manager is an important point of contact for external clients and dealers. They also collaborate with other department managers such as marketing and research in order to improve customer communication and satisfaction. In addition to the undergraduate business degree, several years of experience working in sales is usually preferred.
An ability to generate interest in products or services is a skill that could drive a business management professional toward a career as a marketing manager. In addition to directing a marketing staff, marketing managers study the demand for their company's product or service. Working alongside sales, research and development, and public relations departments, they analyze possible markets and develop marketing strategies. In addition to the bachelor's degree in business, previous work experience in a marketing role might also be necessary, and candidates with experience in digital advertising are commonly sought.
An eye for organizational efficiency can lead those seeking advancement into careers as management analysts. This professional consultant focuses on improving a business's bottom line. A management analyst collects information employee interviews, personal observations, and report analysis, and then recommends changes for cost reduction and revenue expansion. They are often independent consultants, though some management analysts may find work with consulting firms. They can specialize in specific areas such as corporate reorganization, or specific industries such as information technology. A bachelor's degree in business is a minimum requirement, though a master's degree in business administration (MBA) may be preferred. Applicants who also have a certification, such as Certified Management Consultant (CMC) may have an advantage when seeking employment.