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Is a Business Administration Degree Worth It?
You’re a business savvy individual. You may also have experience in the business field. So do you really need a degree to succeed?
The short answer—yes.
Most entry-level jobs in business require a bachelor’s degree. Even if they don’t, professionals without a bachelor’s degree will have more difficulty advancing their career. A bachelor’s degree can open the doors to new positions, higher pay and long-term job security.
If you want to further your career in business and are evaluating degree programs, you’ve probably considered a bachelor’s in business administration. However, is a business administration degree worth the investment? Here are five major considerations when making your decision.
Why Business Administration is a Good Major
Business administration is a top degree choice—and for good reason. Three of the leading reasons professionals choose to earn a business administration degree include:
- Demand: Nearly every business, in every industry needs sophisticated professionals with strong business acumen and management skills. This demand typically leads to strong levels of job security.
- Versatility: A business administration graduate can pursue any functional area within business. This degree gives you foundational knowledge in every core area, as well as cross-functional skills to help you excel in a multitude of careers.
- Advancement: Business administration prepares you to think and act like a leader. You will gain management skills that will help prepare you to advance to management levels in your organization.
A business administration degree can set you up for long-term career success because it focuses on creating well-rounded graduates equipped with in-demand skills.
Skills You Will Gain By Earning Your Degree in Business Administration
The best business administration programs aim to equip you with job-ready skills. However, functional skills are only the beginning. You not only need to understand foundational business theory, tools and best practices, you also need to hone your interpersonal skills.
A business administration degree will give you the hard and soft skills you need to thrive in today’s business world.
Top hard skills you will gain in a bachelor’s in business administration program:
- Business analysis: From financials to human resources, you will learn how to analyze the health of a business, diagnose problems, and offer informed solutions.
- Business technology: From becoming an expert in Excel to navigating databases, a business administration degree will teach you how to maximize technology to solve business challenges.
- Data analysis: Learn how to gather, organize and analyze information to make strategic, data-driven decisions.
- Competitor research: Discover ways to investigate competitors, their products and services, and their sales strategies to help your organization outperform competitors.
- Project management: You will learn and apply the knowledge, tools, and techniques necessary to effectively manage the entire lifecycle of a project, as well as the dynamics of managing a team.
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Top soft skills you will gain in a bachelor’s in business administration program:
- Interpersonal communication: Being a strong communicator is one of the most important soft skills. You will learn to effectively exchange information, understand feelings, and determine meaning through both verbal and non-verbal messages.
- Presentation skills: You need to have confidence when explaining your ideas and persuading others. These skills are key if you want to advance to leadership positions in your organization and are a core focus in a business administration program.
- Leadership and management: In a business administration program, you will learn how to be an effective manager, motivate your employees, and work with leadership to set goals and establish plans for accomplishing them.
- Problem solving and decision making: You will learn to analyze, diagnose and evaluate challenges at all levels—from organizational problems to global trends—giving you the quantitative and qualitative methods to make effective decisions.
- Teamwork: Team building and collaboration are critical to the success of any business. You will learn how to function as part of a team, as well as divide and conquer tasks through group projects.
10 Careers You Can Pursue with a Business Administration Degree
A business administration degree prepares you for a wide range of careers. Here are ten examples of high-growth and well-paying careers you can pursue.
Market Research Analyst
Market research analysts study market conditions to examine and predict potential sales of a product or service. They research and gather data to help companies understand what products people want, who will buy them, and at what price, helping businesses remain competitive in their marketplace.
Median Salary: $63,120
Projected Job Growth (2028): 20%
Sales managers are responsible for hiring and directing an organization’s sales team. They work with leadership to set sales goals, analyze sales and customer data, and develop training programs to help the organization’s sales representatives improve their performance.
Median Salary: $124,220
Projected Job Growth (2028): 5%
These professionals, who are also known as management consultants, look for ways to improve an organization’s efficiency. They make recommendations to reduce costs and improve revenue in order to improve the bottom line. Most consultants work on a contractual basis, but some work for the organization they are responsible for analyzing.
Median Salary: $83,610
Projected Job Growth (2028): 14%
Human Resources Specialist
These professionals are often trained in all facets of human resources—from recruiting and interviewing to compensation, benefits and training. They also function as a main point of contact for employees who have questions or need assistance in regards to company policy.
Median Salary: $60,880
Projected Job Growth (2028): 5%
Advertising, Promotions, or Marketing Manager
The job of these professionals is to generate awareness, interest and leads for an organization’s products or services. Depending on their specialty, they could have a variety of responsibilities, including: creating marketing campaigns, overseeing market research studies, developing pricing strategies, and more.
Median Salary: $132,620
Projected Job Growth (2028): 8%
Operations Research Analyst
Operations research analysts are involved in all aspects of an organization and use data to drive better decision making. They help managers and leadership make critical decisions, like how to best allocate resources, develop efficient production schedules, manage the supply chain, and set competitive prices.
Median Salary: $83,390
Projected Job Growth (2028): 26%
Medical and Health Services Manager
These professionals—also called healthcare administrators—plan, direct, and coordinate medical and health services. They help improve efficiency and quality in delivering healthcare services, especially through technology, as well as keep their organization in compliance with healthcare laws and regulations.
Median Salary: $99,730
Projected Job Growth (2028): 18%
Budget analysts advise institutions on how to organize their finances. They evaluate budget proposals, analyze data to determine the costs and benefits of various programs, and recommend funding levels based on their findings. They also prepare annual and special reports on institutional spending.
Median Salary: $76,220
Projected Job Growth (2028): 4%
Financial analysts specialize in investment strategy and management. They assess and recommend individual investments and collections of investments, helping to maximize the return on investment for a company’s portfolio.
Median Salary: $85,660
Projected Job Growth (2028): 6%
Training and Development Specialists
These professionals help create, manage, and instruct training programs for businesses and organizations. They are responsible for assessing the needs of an organization, and then developing custom training programs that give employees the skills they need to maintain the business’ competitive edge.
Median Salary: $60,870
Projected Job Growth (2028): 9%
How to Know if a Business Administration Degree is a Better Choice For You Than a Specialized Degree
Many business professionals weigh the pros and cons of getting a business administration degree over a more specialized, functionalist degree in an area like marketing or finance. While both paths offer significant opportunities, a business administration degree may be a better choice for you if:
- You want flexibility in choosing a career, and the ability to pivot to a new career path in the future.
- You want to have a management or executive role that oversees multiple departments.
- You want to be able to “speak the language” of all of the different functional areas of business.
- You enjoy variety in your coursework and in your day-to-day job responsibilities.
One way to increase your specialized knowledge in a business administration program is through electives. If you’re passionate about a particular functional area you can even choose to get a minor in that area. That way, you have both the big-picture perspective of a business administration major and more detailed insight into your chosen specialty.
Choose Franklin University for Your Business Administration Degree
If you’re a working professional who wants to get a business administration degree, make sure you choose a program that fits your unique needs.
At Franklin University, we specialize in online education for working adults who want to gain in-demand skills that can be used in your current job while preparing you for advancement. Our Bachelor’s in Business Administration will prepare you with the technical and soft skills that will help you reach your career goals.