A career in business management | Job details & salary

A career in business management | Job details & salary

July 30, 2021 0 By Nishat Firdaush

Hey, are you interested in management courses especially for businesses? Do you want to pursue a course that will help you to manage someone’s business or even your own business? Are you planning to establish your own business? Then this article is exactly for you only. 

If you are seeking information on what are business management career objectives? Is it worth making a career in business management a good choice or not? Then don’t worry, you are at the right place. Here in this post, we will let you know all about business management. 

In the article below, you will read information about career objectives of business management, core values, and why it is important for a business. You will also read about the best colleges and courses for business management. Here we will let you know why you should pursue the business management course. 

We can surely say, you will get satisfied at the end of the article with pieces of information about business management. So, do not miss reading a single line as each line is going to be helpful for you. 

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What is business management?

First of all, before going to business management we will let you know what is business? And what is the main objective of it? 

A business is an organization or corporation in which people collaborate for the betterment and growth of the company. People work here to create and sell goods & services to customers. So that, profit can be made. 

a career in business management

However, Business management is the act of bringing people together to achieve a company’s desired goals to make a profit. It is all about effectively using available resources so that profit can be made, and goals can be reached. 

What are the main functions of Business Management? Business management necessitates the most efficient use of the entity’s resources in the most effective ways. The activities of organizing, leading, controlling, staffing, and directing a business effort to achieve the desired goals are the main functions of business management.

The primary goal of business management is to make a profit for shareholders, create valuable and innovative products at a reasonable price for customers, and create job opportunities in society.

How to start a career in business management?

If you have decided to make a career in business management but don’t know how? Then in this section, you will find the answers to how can you start your career in this field. Business management is a part of an MBA. And no doubt job opportunities in an MBA are countless.

It is recommended to pursue a management degree first. Because business management is such a broad field, it is best, to begin with, a degree.

In businesses, there are many areas in which business owners need experts, ranging from marketing to financing to operations. If you educate yourself in these areas, you will be able to better manage these aspects. 

Find a job in the field of business relations, human resources, marketing, or communications, etc. it is preferable to work in the field of business management and gain as much experience as possible.

a career in business management

You could earn your first degree online while working full-time. Or, you can go with offline degrees as well as per your easiness.

 If you pursue a post-graduate degree then it will quite more helpful to you in comparison to a bachelor’s degree.  If you have a degree, then you can easily start your career in business management. 

Along with having a degree, you should also have some excellent practical management skills. A degree shows your level of certification but practical skill shows your real-life experience in management and it is the most important thing than earning a degree.

Why pursue a career in management?

There are so many reasons to pursue a career in business management. Here, we are going to tell you about the three major reasons that why should pursue a career in management.

Lucrative Salaries in Management

Management positions pay well and are highly rewarding.  the average salary varies depending on the business and requirements of the company. You will receive a decent compensation package as a business manager and you’ll have long-term stability as well.

Business managers are required for both kinds of businesses i.e. medium as well as large businesses to grow.  Businesses’ need for professionals also makes it simple to find a job that is critical to the company’s stability and can protect you from losing your job if the company is struggling.

Create an Impact 

Business management is well-known for assisting companies in saving money and increasing efficiency to optimize the company as a whole. Despite having a long list of responsibilities, you can make a positive difference in the lives of everyone around you.

It’s easy to stay motivated in this job because you’ll be required to develop new strategies that will require you to experiment with various techniques to meet the needs of your stakeholders.

This is a job that won’t bore you, you will have opportunities to work with a diverse team and keep you feel challenged by complications that need to be resolved.  you’ll be rewarded if you meet the finances, stick to the schedule, and collaborate with your coworkers to keep the business running smoothly.

Enhance your current abilities

Strengthening capabilities that you already have can help you gain confidence and makes you more well-rounded as a person. As a manager, you must be able to adapt to change quickly and remain capable of adapting in the workplace.

You’ll become more proactive in your planning skills, and you’ll have to use a variety of strategies as well as techniques to achieve your objectives. Business analysts try to recognize critical success factors, handle situations, and improve stakeholder management and focus on development.

These are some reasons that why you should opt for a career in business management.

Business management courses and Degree

All streams are welcome to apply for the Business Management course. Business management courses are offered at different levels such as Undergraduate (BBA/BMS), postgraduate (MBA/PGDM), and doctoral (Ph.D., FPM) degrees.

These courses are open for all the students belonging to commerce, science, and the arts. Do not get confused get the full details on the list of professional courses for college. It would help you to make the best decision to pursue a career in management.

Students who want to pursue business management can enroll in courses such as Bachelor of Business Administration (BBA), Integrated MBA, Bachelor of Management Studies (BMS), at the undergraduate level.

While students who want to pursue business management can enroll in courses such as Master of Business Administration (MBA) and Post Graduate Diploma in Management (PGDM) at the postgraduate level.

a career in business management

Business Management courses are offered at the undergraduate, graduate, and doctoral levels in both traditional and distance learning formats.  A list of Business Management courses at differing stages is provided below.

UG Courses:

Some of the major and popular UG courses in Business management are given below:

  • BBA
  • BMS
  • Integrated MBA
  • BBA LLB

PG Courses:

Some of the major and popular PG courses in Business management are given below:

  • MBA
  • Distance MBA
  • Executive MBA
  • PGDM

Other Courses:

Some of the other major courses in Business management are given below:

  • Certificate courses in Business Management
  • PhD
  • MDP
  • FPM

Salary

There are various job posts are available after pursuing business management courses. The job posts are based on the earned degree levels such as Management Trainee, Sales Representative, Marketing Executive, Manager, Assistant Manager, Financial Analyst, and Business Analyst, etc.

The salary in the business management field is quite lucrative and depends on different factors. The factors affecting the salary are such as degree levels, work experience, skills, etc.

The salary scale of some of the job posts under business management is given below. This information is provided based on the market value examined by an online source.

Management Trainee: The average salary of a management trainee per year is more than Rs. 3 lakhs. i.e. the average monthly salary is approx Rs. 25,000- 30,000. The increase in salary can be expected depending on work experience.

Sales Representative: The average salary of a sales representative per year is more than Rs. 3 lakhs. i.e. the average monthly salary is approx Rs. 25,000- 30,000. The increase in salary can be expected depending on work experience.

Manager: The average salary of a manager per year is more than Rs. 8 lakhs. i.e. the average monthly salary is approx Rs. 75,000- 80,000. The increase in salary can be expected depending on work experience.

Assistant Manager: The average salary of an assistant manager per year is more than Rs. 6 lakhs. i.e. the average monthly salary is approx Rs. 55,000- 60,000. The increase in salary can be expected depending on work experience.

Financial Analyst: The average salary of a financial analyst per year is more than Rs. 4 lakhs. i.e. the average monthly salary is approx Rs. 35,000- 40,000. The increase in salary can be expected depending on work experience.

Conclusion

If you want to make a career in business management, then there will be many great opportunities in this field. Since the business industry is going day by day. As a result, the demand for business management is high nowadays. i.e. it is now becoming a booming industry. Management and different analysis positions are available in the private, public, & non-profit sectors.

A business management degree will prepare you for a career in business, which can be in any industry or sector. Decide what field you want to work in and try to gain relevant experience.

If you are planning to make a career in this field, this will be beneficial in taking jobs. But it is also going to help you in establishing your own business if you are thinking so.

Frequently Asked Questions

What Business certifications are in demand?

Business Analyst certification, Supply chain certification, Skilled trade certification, Human Resources certification, Sales certification, Accounting certification, etc certifications are high in demand.

What kind of jobs I can get with a business management degree?

With a business management degree, you can do any of the following jobs relevant to your degree. Such as Management Trainee, Sales Representative, Marketing Executive, Manager, Assistant Manager, Financial Analyst, and Business Analyst, etc.

Is a career in business management right for me?

Yes, definitely and it totally depends on you. If you are planning to make a career in business management and are interested to pursue jobs in this field. Then definitely it can the right career choice for you.

What careers can I get with a business management degree?

With a business management degree, you can opt for any job post in different fields of business management. Also, you can stand up with your own startup. Having a degree in business management will give you a wide range of career choices as per your interest and degree level.

Can I start my own business with a business management degree?

Yes, definitely you can do that. If you have a plan to establish your own business then definitely a business management degree can help you a lot. But keep in mind, starting your own business is not so easy especially only having a degree. The degree can help you in many ways. But apart from a degree, you must have relevant skills, proper plans, some funds, a group of people, etc.