Business administration with concentration in accounting salary

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Business Administration Salary Guide

Median Annual Salaries

The U.S. Bureau of Labor Statistics includes more than 30 professions in its salary category for business and financial operations—from buyers and purchasing agents to accountants, market research analysts, and property appraisers and assessors.

Business administration includes an array of careers that require the management and operational skills crucial to running a business. That means business administrators can be found in many different kinds of companies and industries with a spectrum of salaries.

Because the BLS job category for business and financial operations is so broad, here's a look at some BLS salaries for individual careers.

Salaries for Popular Business Administrator Occupations

What Factors Affect Salary Level?

Your job title and role will affect your salary, but they aren't the only factors. Your education, experience, certification, and employer can also influence your pay.

Education: Advanced Degrees Can Lead to Higher Salaries

You can begin your career in business administration with an associate, bachelor's, or master's degree. While you can launch your career with any of these degrees, but the higher the degree, the higher your salary likely will be.

As a general rule, you'll earn more with a bachelor's degree than you will with an associate degree. If you earn a master's degree, you'll have the potential to earn even more. In fact, survey data published by the Graduate Management Admission Council shows that earning a Master of Business Administration (MBA) can increase your salary by an average of 77% over what professionals with a bachelor's degree might earn.

Experience and Certification Showcase Your Skills, Create Opportunities for Advancement

As with most careers, your salary in business administration can increase as you gain more experience. As you build your knowledge, expertise, and skills, you may be tapped for leadership positions or to manage projects. Responsibilities like these generally come with higher salaries.

Additionally, job performance can be a large factor in earning salary increases.

"There's a funny little saying we use: 'Make your boss look good, make your boss's job easier.' It's a way of just saying go in and do your job, knock it out, and‌ always ask for more," says Ralph Griffith, BA, MBA, DBA, an associate professor of entrepreneurship at Lenoir-Rhyne University. "When I'm mentoring young men and women, I always advise them to be ambitious and see what else they can be working on. It's a way to get exposure across the organization. [Your boss] will see someone who's excited, can handle their current workload, and can take on smaller projects as part of multifunctional teams. They'll remember that when they're looking to fill roles and advance people."

"There's a funny little saying we use: 'Make your boss look good, make your boss's job easier.' It's a way of just saying go in and do your job, knock it out, and‌ always ask for more."

Certification is a great way to demonstrate expertise and skill in business administration and stand out among your peers and job candidates. In some cases, employers might help pay the fees for the courses and tests you need to earn a certification, or they might compensate you after you pass a certification exam.

Certifications can prove you have the knowledge to oversee essential aspects of business administration. For example, becoming a Certified Supply Chain Professional (CSCP) can help show an employer you're the right candidate for a related role. Similarly, Salesforce Administrator Certification (SAC) can help a resume for a marketing manager position rise to the top.

Different Workplaces Tend to Have Different Salaries

The industry you work in can also make a big difference in your pay. For instance, you'll generally make more working with investment accounts and portfolios than you will preparing taxes.

However, keep in mind that average salaries are not a rule. There will always be exceptions, and factors such as experience and education will still make a significant difference in your pay.

Top-Paying Industries for Business Administrators

What Is the Job Outlook for Business Administrators?

According to the BLS, job growth in management occupations that correlate with business administration roles is projected at 7 percent through 2031, about the same as for all occupations. This translates into about 715,100 new jobs over the decade. However, job growth will vary by the field.

Finding a Job: How to Stand Out From the Competition

The job market for those in business has become increasingly competitive, and many roles now require more education.

Technology plays a big role in business, so the more knowledge and experience you have with computers and software, the better you may fare when it comes to job opportunities.

What can help you stand out and rise above the competition? Having in-demand skills in areas such as:

• UX design
• Cloud computing
• Blockchain development
• Affiliate marketing
• Artificial intelligence
• Video editing and production
• Data analytics
• Machine learning

Keep in mind that the level of competition you'll face will vary among business administration career paths. For example, there's expected to be a huge demand for medical administration and supply chain professionals over the next decade.

Healthcare, in general, is facing a shortage of qualified professionals. This can make the competition for roles in healthcare administration very different from the competition for other roles.

With professional insight from:

Ralph Griffith

Associate Professor of Entrepreneurship, Lenoir-Rhyne University

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