Business management facts are something each individual who is starting work has to be familiar with. You have to arm yourself with information before you venture into the unknown, and in today’s world, the right information worth knowing may be hard to come by. Following are five business management facts to help you boost your confidence in choosing a business management major.
1. Job openings
When you have to select a career, it is always smart to make sure that the size of the current market offers a wide variety and number of jobs. It is simple really, as the larger the job pool is, the easier you will score yourself a position.
One Burning-Glass analysis of the last 12 months revealed that 357,983 job positions that need a business management degree appeared, while 7,950 of those ads were for a business analyst, one of the top 25 Jobs in America several years ago.
2. Education requirements
It is important to know the required level of education for a certain career in management. This knowledge will allow you to avoid unnecessary career speed bumps as you move through the ranks. You have to be aware of what employers need and want so that you do not miss a promotion because you lack some education you could have easily had.
Around 85% of the results on Burning-Glass.com for business management jobs prefer or require a bachelor’s degree, and that number is ever increasing. It is understandable that employers want an educated worker.
3. Experience requirements
When you earn a degree in business management, it does not mean you will skip the necessary entry-level work and move straight into management without any experience whatsoever. Do not worry, and do not let this discourage you from working hard. Most of the successful and effective managers had firsthand experience while working at positions they now supervise. The time you spend in an entry-level position is more valuable than you think. There, you will get the hand of everything and develop your leadership skills.
When it comes to numbers, 77% of business management positions ask for at least two years of experience before they are willing to give you a shot. Although starting on an entry-level position is not as glamorous as management, it is the time where you have to prove your worth. It you are able to, try and work closely with your manager to learn as much as possible and to create a career development plan.
Different factors are in question when choosing a career, like location, growth potential, and of course, salary. As you may already know, salaries can vary greatly depending on the position, so knowing your income can help you plan your future.
Here, 65% of business management jobs offer salaries larger than $50,000 annually. However, both the industry and years of experience are crucial when it comes to salary.
5. Employment variety
There are tons of management positions, from finance to healthcare. One thing all these organizations require are professionals skilled in the field. Almost no other degree offers this type of flexibility when it comes to employment.
When you graduate, you are able to pursue a management position in any industry. Forestry, healthcare, the finances of a non-profit organization… Whatever you like, there must be a management position in it somewhere. Your possibilities are vast. They include, but are not limited to:
Professional, scientific and technical services, like project managers, product managers or district managers.
Hospitals, offering positions of a human resources manager, program director or clinic manager.
Educational services, where you will work as a director of admissions, marketing manager or administrative manager.
There you have it, five business management facts to help you choose the right path. Here is one extra fact to help you make up your mind. With an associate degree, you may be able to get a business management bachelor’s degree for no more than $9,900. What are you waiting for? Get out there and secure your future in management!