Growth Trends for Related Jobs
Students who major in business administration with a concentration in management receive focused training on how to manage an organization. A degree in management can prepare you for careers in a variety of fields, such as retail sales or hotel management. Career options are also available for those who would rather work in a non-management role. If you are considering a business administration degree in management, understanding common career paths can help you adequately prepare.
A sales manager oversees his company’s sales team, which can include sales agents and regional and local sales managers. The specific job duties of a sales manager vary depending on the size of the organization. Some general job responsibilities may include assigning sales territories, establishing short-term and long-term sales goals, projecting revenue and profitability for the company’s services and products and developing training programs for sales agents. In some organizations, sales managers are also responsible for recruiting, hiring and training new staff. According to the U.S. Bureau of Labor Statistics, sales manager jobs are expected to grow by 12 percent through 2020. The average annual salary for 2012 was $119,980.
Another possible career option for business administration majors is working as a financial manager. Companies hire financial managers to oversee the organization's financial health. To accomplish this task, financial managers supervise accounting and finance staff, prepare financial statements and budgets and ensure that the company meets legal requirements related to financial reporting. According to the U.S. Bureau of Labor Statistics, controllers, treasurers, cash managers and risk managers are several types of financial managers. Although a bachelor’s degree typically qualifies you for a financial management position, some companies also want you to possess work experience in the accounting or finance field. The 2012 annual average salary was $123,260 and employment is expected to grow by 9 percent through 2020.
Management analysts collaborate with an organization’s managers to suggest ways to make the company more profitable and to reduce expenses. Common duties of a management analyst may include analyzing financial data, gathering information about problems in the company, developing solutions to address the problems, and creating alternative practices and procedures to be implemented throughout the organization. Some management analysts work for the company they are analyzing, but the majority of management analysts work for consulting firms. As companies seek for new ways to become more efficient and increase profitability, the demand for management consulting services is expected to grow. A 22 percent employment increase is expected between 2010 and 2020. The 2012 average annual salary for management analysts was $88,070.
Operations Research Analyst
The primary objective of an operations research analyst is to identify and analyze problems in an organization and advise managers on the appropriate course of action to solve the problems. Some areas where operations research analysts may identify issues include production, sales and logistics. Operations research analysts typically work as a team. They gather information from a variety of sources, which may include computer databases. They use statistical software, simulations and models to analyze information and create solutions. Advancement in technology and the need for companies to improve efficiency are two factors that contribute to the estimated 15 percent employment increase between 2010 and 2020. The 2012 average salary for operations research analysts was $79,830.
- U.S. Department of Labor: Occupational Employment Statistics: Management Analysts
- U.S. Department of Labor: Occupational Employment Statistics: Operations Research Analysts
- U.S. Department of Labor: Occupational Employment Statistics: Sales Manager
- U.S. Department of Labor: Occupational Employment Statistics: Finance Manager
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