A business degree opens doors to many career opportunities with a handsome salary package and unlimited growth potential. However, if you are considering a business degree, you might not know what kind of door you would like to open and feel clueless about your career path.
Plus, working towards a profession without knowing where it leads can bring more trouble than good. All this is enough to overwhelm anyone, but there’s no need to fret as today we present a rundown of the highest paying business career opportunities you can choose from according to your aptitude.
1. Software developer
Now many businesses across the globe realize the importance of technology and work with software developers to create top-of-the-line solutions for the unique business problems they face. You can pursue an MBA degree to climb up the managerial ladder, for instance, an MBA with a concentration in data science, or simply work to create innovative business solutions that help with decision-making for big tech companies such as Revature. The BLS statistics forecast a 22.2% increase between 2020 and 2030.
The job involves identifying, designing, implementing, and testing a software application from the ground up. Furthermore, businesses have increasingly begun to offer market-competitive salaries. For example, the Revature software developer salary for newcomers is $117,019 annually, and it can go up to almost $200,000 annually for senior positions.
2. Chief marketing officer
Chief marketing officers (CMOs) are responsible for developing, implementing, and evaluating a company’s marketing and sales strategy. In addition to conducting market research and establishing prices for products and services, these experts also plan and implement advertising campaigns, promote new product releases, develop advertising strategies and communication tools, and oversee public relations efforts. They provide the frameworks and guidelines that other departments may utilize to further their marketing goals. The job outlook looks promising, with a 10% increase projected by the BLS between 2020 and 2030.
An undergraduate degree in marketing, public relations, or advertising, or a similar discipline such as business communication and administration, is often required for the position of chief marketing officer. The average salary of a CMO starts at $174,603 annually, with endless growth potential.
3. Chief executive officer
An organization’s CEO is responsible for the day-to-day running of the business and is accountable to the board of directors. As Key decision-makers, they play an essential role in the success of their organizations. They devise strategies and policies to help their companies maintain a competitive edge in their respective markets. In addition, they oversee short- and long-term plans to achieve the company’s goals and objectives. The BLS projects an 8% growth between 2020 and 2030.
In a small firm, the owner may also serve as the chief executive officer and be involved in all phases of everyday operations. In contrast, a CEO working for a large corporation has many responsibilities that fall within the purview of their subordinates, from formulating new policies to directing managers. The salary falls within the bracket of $17,000 -$295,000, with the U.S average being $117,897 annually.
4. Finance manager
This role is a fusion of finance and business. However, many major corporations, particularly those in the financial sector, cannot run without a finance manager. Finance managers oversee and are in charge of managing the company’s investments. They help prepare long-term fiscal planning and financial reports as part of their duties. They may also be responsible for the financial department’s staff.
The title of a finance manager varies from company to company. This category includes controllers, treasurers, credit or cash managers, and risk managers. An undergraduate degree is the industry standard, although a master’s degree in finance may also be required. Finance managers should have at least five years of relevant experience working for competitor businesses. The average annual salary for a finance manager in the U.S is $134,180.
5. Human resource director
Employee welfare, recruiting, career development, and other aspects of employee management are under the purview of a company’s human resources director. They are responsible for creating recruiting and training procedures, designing systems for employee benefits, managing payroll operations, and devising strategies for promoting staff. The average U.S salary is $90,003 annually, with a projected growth of a 9% increase between 2020 and 2030.
6. Information security analyst
Information security analysts are responsible for designing and executing security procedures to monitor and safeguard major enterprises’ computer networks and systems. Hi-tech businesses, consultancies, and major enterprises, notably those in the financial sector, employ people in this field. A bachelor’s degree in computer science or information technology is essential for information security analysts. It is ideal to have relevant expertise in the field of systems security. The median U.S salary is $103,590, and a bachelor’s degree is a mandatory job requirement.
7. Business analyst
Business analysts study and critically assess business operations and user demands for their organization. They are concerned with defining the scope and goals for a project, as well as formulating strategies for systems. They are focused on recognizing what needs to take place and what they can do to create breakthroughs and improvements inside a company for greater efficiency and profit. They create scenarios and look at figures to assess how the organization operates, examining everything from suppliers to customers. They guide and recommend how to promote changes and assist in creating scenarios where the business can thrive.
BLS anticipates a more than a 14% increase in business analyst roles over the next several years, surpassing the national employment growth. A business analyst’s average annual salary is $74,762, which is greater than the national average. Your salary as a business analyst directly correlates with your credentials and experience – the more you have, the better you earn. In addition, getting an advanced degree can significantly boost your earning potential.
8. Budget analyst
A budget analyst is responsible for keeping the company’s budget accounts current, relevant, and organized. Their responsibilities include validating budgeting records for accuracy and integrity, managing corporate expenditures, tracking invoices, and managing the budget management system. Accountants, tax analysts, and HR managers handle accounting and financial records. The national average income of a budget analyst is $79,126 per year, with a 5% job growth between 2020 and 2030.
The business sector is brimming with high-paying jobs with handsome salary packages. However, it’s only fitting to get a job suitable to your aptitude, which also checks all your other boxes, such as salary expectations and job outlook. Even so, remember that no career can promise you a high wage in the long term if you don’t put in the required effort or expand your skillset.