A higher potential salary
A business degree is one of the top five qualifications for the highest earning potential with graduates earning significantly higher average salaries compared to other disciplines, according to a 2015 report from USA Today. Research from the Forte Foundation also shows MBA graduates can expect a pay increase in the region of 35–45% with this number rising to 55–65% after five years, compared to pre-MBA levels.
What can you do with a business degree?
An underappreciated aspect of a business degree such as an MBA is its versatility in the job market. Business graduates are often suitable for various work opportunities and can enjoy the freedom to traverse multiple industries throughout their careers. Many employers also stress their preference for graduates with a business degree as they will possess a solid set of transferable skills such as critical thinking, problem solving, decision-making, and project management. Furthermore, all of which can be applied to different levels of an organisation, in the pursuit of top business careers.
The opportunity to work in a growing industry
The career options in business and management are extensive and rewarding. According to a 2016 report from the Higher Education Statistics Agency, seven of the top ten jobs held by graduates working in the UK are related to business and management. The survey also indicates that 77% of these graduates are employed within six months of graduation. The consultancy sector is also popular among business and management graduates with a broad range of career options available including organisational planning, strategic consulting, HR consulting, and business process management. In addition, the 2016 Graduate Market report from High Fliers indicates that consultancy vacancies have increased by 63% since 2006.
Key responsibilities: Find new customers, and persuade existing ones to buy new products or services.Business Development Manager
Key responsibilities: Complete projects within agreed timescales and to budget by planning and organising staff, tasks, and resources.Business Project Manager
Key responsibilities: Responsible for the development of a product, from identifying customer needs through to marketing the final product.Product Manager
Key responsibilities: Work with organisations to identify ways they can improve.Business Analyst
Skills and abilities: Strong organisational skills, computer literacy, excellent grammar, and attention to detail.
What you’ll be doing: This position is required by large and small businesses in all sectors. Typical day-to-day responsibilities include:
- Greeting visitors to the office
- Organising staff meetings, and taking notes during the meeting
- Arranging travel for staff members
- Updating computer records
- Typing, printing, filing, and ordering replacement stock
- Answering phone, email, and social media enquiries
Career progression: This position could lead to supervisory or managerial roles. Further training could lead to other departments or specialisations. You may decide to develop yourself with administrative assistant certification such as CAP or CAA.
* https://nationalcareersservice.direct.gov.uk/job-profiles/admin-assistantSuggested courses:Business & ManagementBA (Hons) Business (HRM) (CMI)£13,500 UK/EUBusiness & ManagementBSc (Hons) Business Management£11,250
Skills and abilities:Abilities to work with, and motivate, employees at all levels to meet deadlines. Strong analytical skills, with the ability to foresee important issues and changes.
What you’ll be doing: Cooperate with senior staff to support organisational changes, such as IT systems and sales strategies. Typical day-to-day responsibilities include:
- Speaking to managers to understand their aims
- Understanding how current business processes are conducted
- Analysing data from the findings to recommend improvements
- Explaining benefits of changes and the best ways to put them into practice
- Assessing risks and monitoring progress
Career progression:You could become a Senior Business Analyst – however you may prefer to move into project management, consulting, or to set up your own company. You might choose to enhance your career prospects by studying for business analysis certification. Alternatively, you may decide to work freelance or gain experience from other industries.
* https://nationalcareersservice.direct.gov.uk/job-profiles/business-analystSuggested courses:Business & ManagementMaster of Business AdministrationUK/Europe/Middle East/Other Int. £17,000Business & ManagementManagement Consulting£8,500
Skills and abilities:Excellent communication and organisation, with strong negotiation and problem-solving skills. Attention to detail and ability to meet deadlines.
What you’ll be doing: Positions are available in a variety of businesses and charities. Typical day-to-day responsibilities include:
- Reaching out to organisations to find new customers
- Working with a team to determine what an organisation needs and propose new options
- Building positive relationships with clients and customers
- Identifying new opportunities for sales campaigns and forecast targets
- Selling products to new and existing customers
- Creating reports and presenting to senior management
- Delivering training to junior staff
Career progression: You may decide to enhance your career prospects with a focussed business management course. With experience, your business management career path could lead to positions such as Senior Development Manager, Business Development Executive, or Marketing Director. You could also use your skills in sales, marketing, and other areas of business.
* https://nationalcareersservice.direct.gov.uk/job-profiles/business-development-managerSuggested courses:Business & ManagementSales Management£7,500Business & ManagementEntrepreneurship£8,500
Skills and abilities:Excellent organisational, communication and leadership skills, IT literacy and budgeting skills.
What you’ll be doing: In the role of Project Manager, you could work on a variety of projects in different industries or sectors, including building projects and IT systems. Typical day-to-day responsibilities include:
- Determining the aims of the client or business
- Planning different project stages, and deciding resource requirements
- Agreeing prices with contractors and suppliers
- Choosing and leading a project team
- Monitoring progress, quality, and costs
- Analysing risks, and reporting regularly to senior managers and the client
Career progression:You may decide to enhance your project management skills through a focussed qualification. With experience, you may rise to the position of Senior Project Manager, or choose to work as a freelance consultant.
* https://nationalcareersservice.direct.gov.uk/job-profiles/business-project-managerSuggested courses:Business & ManagementCertificate in Project Management£550
Skills and abilities:Strong communication and collaboration, research and analytical ability, decisive leadership with customer and product knowledge.
What you’ll be doing: The Product Manager roleis common for a variety of industries, developing manufactured, technical, and financial products. Typical day-to-day responsibilities include:
- Being responsible for overall product success
- Determining customer needs through research and feedback
- Assessing market trends and competitor products
- Creating product management processes and forecasting results
- Managing conceptualisation, production, and marketing
- Overseeing product development and assigning staff accordingly
- Planning and demonstrating new features to stakeholders
- Developing and implementing marketing campaigns
- Determining pricing, and forecasting short and long term sales
- Co-operating with all departments as required
- Maintaining industry and product knowledge, attending relevant events
Career progression:You may join a team, and with experience become a Senior Product Manager, Associate Product Manager, or Head of Product, potentially rising further to roles such as Chief Marketing Officer.
* https://www.prospects.ac.uk/job-profiles/product-managerSuggested courses:Checkout 1/3Total: £Discount: £Bundle Discount: £Sub Total: £Choose Exam Dates and Additional MaterialsAdd Billing DetailsSelect Payment MethodSelect Payment Method