Business Administration Salary
Understanding Business Administration Salary
It really pays well that you are satisfied with your career, and it is also important to make a living. Getting a college education in line with business is the initial step of getting a lucrative and satisfying career.
However, do you have any clue about the average salary in the business industry? So business administration salary must be discussed.
If you are targeting a career in business administration, the first thing you need to know more about is the business administration salary you can receive, since every career will be varied in terms of compensation. You can expect high starting business administration salary with your relevant degree in business.
But business administration salary could vary significantly based on your education and the area of business you are interested to pursue. Aside from this, it will also depend on the specific situation such as the company you want to work with, the kind of industry they are involved and the special skills they need. And of course, some of these will significantly affect your business administration salary.
Business Administration Salary – Seneca College Business Administration – Human Resources
Factors That Affect Business Administration Salary
1. Location
Each location in the United States could vary, when it comes to business administration salary. For instance, a company with headquarters in New York City will pay a lot higher than a place in the middle of North Dakota.
2. Experience
If you have decades of experience in a particular line of business, it is just normal to receive higher business administration salary. If you have more than 50 years of experience, of course you can expect more.
3. Position
In the field of business administration, there are so many places you can manage such as sales, marketing, finance, client relations and many more.
4. Academic Background
Those with advanced degree in business can expect higher business administration salary compared to those with associate degree to college degree.
Job Description Can Affect Business Administration Salary
It is very important that you understand the job description and outlook of this career to understand business administration salary.
Normally, business administrator would spend most of their work hours inside an office. However, they could also be required to make evaluation and inspection of business buildings and equipment to manage facilities that falls under their responsibilities. Most business administrators work 40 to 50 hours a week. In most cases, over time duties, which are not included in business administration salary must be expected to make certain that deadlines are met.
The specific responsibilities of the business administrator could vary as greatly as the range of administrative services that they are expected to do for the organization. Business administrator could also serve as contact personnel, project managers or supply control officers according to the company where they are employed. Business administration salary could vary according to the special duties you can do.
Business administration salary and employment is expected to rise on the national scene for most positions. Development for the top level positions in this career will eventually grow due to tight competition.
For middle level positions, competition is not too stiff so employment prospects will continue to be rewarding for this level for the next decade. Business administrators with specialization with facility management have the best employment outlooks. Those who are engaged in administrative consultations must also have great development in the employment prospects.
According on the nature and complexity of the company where the business administrator is working, academic requirement could vary. In small to middle-sized companies, the business administrator could are only required to have relevant experience. Larger companies, on the other hand, require a bachelor’s degree but would pay higher business administration salary.
In order to have a stable business administration salary, those who are interested in this career must have a bachelor’s degree in business, accounting or finance. It is also important to have a background in business technology, computer software, legal aspects of business, and general accounting. Business administrators who participate in developing management must also receive drafting courses.
On the other hand, business administrators who work in the physical facility of the business must have background education related to architecture, engineering or facility control. In certain instances, experience can be an alternative for an undergraduate or a graduate degree.
These experiences are normally obtained by those in the field specializing in several areas of business and would often receive higher business administration salary.
Meanwhile, business administrators who specialize in property acquisition and sales must have an academic background in sales and marketing, technical know-how of the property or equipment of the business and knowledge of the resources necessary in the operations.
Average Business Administration Salary
In searching for business administration salary and what you can expect, experts have discovered that if you hold a bachelors degree, you can make about $ 10,000 to $ 18,000 annually and if you have an associate degree you can earn about $ 30,000 to $ 40,000 annually.
The business administration salary is higher if a person has an MBA with salary range of $ 35,000 to $ 50,000.
Business Administration Salary for Associate Degree in Business
Associate degree programs are two-year formal education normally offered by community colleges and academic institutions. They provide students basic know-how of business. There are many rewarding career opportunities with those people holding associate degree. Below is the starting salary for associate degree holders in business field.
Office Manager – $ 37,000
Executive Assistant – $ 40,000
Retail Manager – $ 42,000
Assistant Business Administrator – $ 30,000
Human Resources Personnel – $ 50,000
Client Relations Officer – $ 30,000
Business Administration Salary for Bachelors Degree in Business
There are numerous careers offered to those who completed a bachelors program in business administration. Below is the starting business administration salary for bachelors degree holders in the business field:
Financial Manager – $ 87,000
Human Resources Manager – $ 65,000
IT Project Manager – $ 78,000
Physical Project Manager – $ 75,000
Senior Financial Analyst – $ 52,000
If you have already worked in the private sector, you might have a good idea of business administration salary. Remember that these are only estimates so it would help a lot if you ask your HR department about the salary range for your possible job employment.
