When talking about business administration, it’s hard to define exactly which niche it belongs to because of all the areas it touches. To succeed, every business needs someone with expertise in business administration.
Business Administration Defined
Business administration is a college or university program designed to prepare an individual for a career in business. The program typically focuses on areas relating to business theory, practices, and management. Business administration encompasses a wide variety of related career choices such as financial, human resource, marketing management, healthcare administration, and more. It’s hard to pigeon-hole someone holding a degree in business administration because of how many different career opportunities are open to them. Essentially, a business administrator efficiently organizes employees and other resources of a business to maximize profitability. Find an online business admin program.
A Business Administrator's Day
Day-to-day duties may vary depending on the exact position of the business administrator. However, most business administrators play a highly active role in the going-ons of the business where they may be CEO, general manager, or operations manager. They are usually quite knowledgeable in several areas such as accounting, marketing, sales, finance, and human resource.
The most common duties of a business administrator:
- Oversee the daily business operations
- Create improvement strategies
- Create best practices for the business
- Contract and deal negotiations
- Minimize spending while maximizing budget
- Preparing data
Business Administrator Qualities
Careers in business aren’t right for everybody. Because a business administrator is part of so many areas within different businesses, and they are necessary in so many fields, there are definite skills and traits a talented business administrator should possess. They are the office go-to, and therefore should embody someone a team would be happy to follow along with toward a successful end-goal.
- A Leader: Business administrators need strong leadership skills in order to motivate others to achieve a common goal. Many are born leaders, but it is also a learned skill that can be fine-tuned through studying.
- Assertive: A business administrator can not be a passive person. Assertive can also be defined as aggressive, ambitious, savvy, and active.
- Critical Thinking: Problem-solving on a multitude of levels is part of the job description. Taking in whatever the problem is, and finding a solution or two is a key quality of a business administrator.
- Organized: Being organized helps companies run smoothly, preventing costly mistakes and ensuring employee satisfaction.
- Communication: Having the ability to listen, understand, and discuss concerns with co-workers is a key attribute. A charismatic yet approachable communicator can go a long way in the world of business.
Business Admin Education
Education is one of the greatest investments when it comes to your future. Most students choose to get a Bachelor’s degree in business administration. However, obtaining an associate degrees holds a variety of career options, as well. If cost is a factor, check with your school’s financial aid department to find out about their scholarships and tuition assistance programs. Make sure to learn more about financial aid here.
Associate Degree: Associate degree programs are a great for getting an entry-level position. An associate degree provides entry level positions in areas of study such as healthcare administration, retail management, human resources, and information systems. Fundamentals of business, critical thinking, communications, business software, and project planning are just some courses in the associate degree business administration program. Associate degrees usually take two years if you attend full time. Tuition for an associate degree can cost anywhere between $3,000-$9,000 per year.
Bachelor’s Degree: A bachelor’s degree in business administration prepares you to step into roles such as a human resources generalist, operations manager, marketing specialist, or business analyst. Core courses such as communications, strategic planning, business ethics, leadership, and financial management are part of most business administration curriculum. If you’re getting a bachelor’s degree, expect to be in school for four years minimally if you attend full time. Public colleges can cost $10,000 or more per year, while private college tuition, without taking into account the cost of living and school necessities, can cost upwards of $30,000 annually.
Master’s of Business Programs (MBA): An MBA is an advanced degree in business administration. In some jobs, an MBA might be the minimum requirement. Programs can take one to two years to complete. Some choose to get their MBA through a business school, and others go to a university or college. An MBA prepares you for consulting work, advanced leadership roles, and executive director positions. Most MBA programs include advanced level courses in statistics, operations, micro and macroeconomics, marketing, and management. The average tuition cost for an MBA program is $60,000.
Online programs are also available for business degrees, and they are extremely popular, particularly for students who need the flexibility. Costs vary wildly depending on the degree and online school. Be certain the online program you’re taking is accredited.
Benefit of Business Certifications
Getting certifications in your field of business is a great way to make yourself stand out to recruiters. Certifications tell hiring personnel that you have the necessary skill set mixed with experience and knowledge to get the job done. On a personal level, certifications will give you a competitive edge over others in the field, especially those who don’t have certifications. It validates you as a business administration professional. Not to mention, the more certifications you have in your field, the higher salary you can demand.
Some certifications to consider are:
- Project Management: A project management certification shows you’ll complete a project in a timely manner and on budget.
- Human Resources: Certification shows you possess excellent people skills. Certification is recommended through HR Certification Institute and Society for Human Resource Management. You can earn both, if you wish.
- Actuary: Actuaries are a business’s risk managers. Earn a certification through either Casualty Actuarial Society or Society of Actuaries.
Business Administration Salary
In the business world, most top executives have a lot of business experience combined with a bachelor’s or master’s degree in their background. With a business administration degree, there are many different career choices that open up. According to the Bureau of Labor Statistics, the average salary for business administrators in 2023 was $121,200, with the top 10 percent earning $188,820 or more.
Business Administrator Job Outlook
The Bureau of Labor Statistics combines business and financial careers together and estimates an increased demand for these fields of 5 percent by 2032, which is slightly faster than the national average of all occupations.
The U.S. News and World Report discovered that the fastest growing, most in-demand jobs for MBAs are financial advisors, fundraisers, medical and health service managers, logistician, human resource specialist, and marketing managers.