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Education

How Much Does A Business Degree Make

By David Krug 3 minute read

Many students choose to pursue a degree in business administration because of the high earning potential. Among all occupations, business and finance has a high median wage, especially for those who eventually rise to management positions. There is a wide range of salaries available in this field, from $60,000 to over $100,000 per year for entry-level positions to six-figure salaries for those who rise through the ranks.

How Much Do Business and Financial Professionals Get Paid?

US Bureau of Labor Statistics data shows the median annual wage for business and finance jobs is $67,710 for those who don’t hold management positions (BLS). Personal financial advisors earn the most money of all of these positions. As reported by the Bureau of Labor Statistics (BLS), individuals who work as financial advisors earn an average annual salary of $90,640. Investing opportunities for both businesses and individuals are the focus of the next most lucrative job, financial analyst. According to the Bureau of Labor Statistics (BLS), financial analysts make an average annual salary of $84,300. You can earn an average of $82,450 as a management analyst or management consultant, and you’ll have the opportunity to work closely with upper-level executives, often from a third-party agency.

Despite the fact that not all roles in business and finance have a median salary in the $80,000 to $90,000 range, many of these positions still have excellent median salaries in the $60,000 to $80,000 range. Budget analysts, for example, earn a median salary of $75,240, which is why they are responsible for keeping track of spending and budget reports. The median salary for logisticians is $74,590, and they are in charge of coordinating a company’s supply chain. Accountants and auditors make an average of $69,350 per year, while insurance underwriters make an average of $69,760. Mid-$60,000 salaries are common for purchasing managers, insurance claim adjusters, and loan officers. The median salary for market research analysts, labor relations specialists, cost estimators, human resources specialists, and fundraisers is in the low $60,000s..

In many cases, graduates of finance, accounting, economics, human resources and even mathematics programs can apply for these positions.

Wages for Management Positions in the Business

Earning a high salary is a sure sign that you have put in the time and effort necessary to climb the corporate ladder. In all, management jobs pay an average of $102,590 per year, according to the BLS. Frequently, the most lucrative management positions also call for a bachelor’s degree in business or a closely related field, as well as a significant amount of prior professional expertise in the field. The median salary for CEOs, presidents, executive directors, chief financial officers (CFOs), and chief operating officers (COOs) is $183,270.

Computer and information systems managers, engineers, and managers in the natural sciences are just a few of the well-paying management positions that require a background other than business. You can get started on the path to becoming a marketing manager or advertising manager with a bachelor’s degree in business. The median annual salary for a financial manager is $125,080. The median salary for sales managers is $121,060, but this may be split between salary, commissions, and bonuses for some sales managers. Managers of public relations and fundraising earn an average of $111,280. High salaries are also possible in positions involving the management of employee recruitment, compensation, and training. Training and development managers make $108,250, while compensation and benefits managers take home $119,120 on average each year.

Chief executives in manufacturing and professional, scientific, and technical services earn a median wage of $208,000 or more, the Bureau of Labor Statistics (BLS) has found.

New Business Graduates’ Pay

These median or midpoint salaries are, of course, unrealistic to expect to earn right out of college. In the workplace, education is just one of many factors that contribute to a person’s salary. However, despite having a bachelor’s degree, most recent business school grads lack the years of experience, professional credentials, and past work performance that go into earning such a high salary. However, once you begin working in business, you have the opportunity to develop these skills. Businesses, along with STEM (science, technology, engineering, and mathematics) majors, have been found to be among the most valuable college majors according to research. Graduates of business administration and business management programs earn an average salary of $52,491 in the United States, according to national salary data.

Did you know that, as a recent graduate, your ability to earn a living is directly correlated to the school you attend? Graduates of some business schools can expect to earn several thousand dollars more than the national average.

David Krug

Author