If your goal is to have a career in business, getting a degree will help you reach that goal. You may have decided to start with an associate degree. You have completed two years of coursework that will allow you to begin your career. Or, you may be thinking you want more education in this field.
You are not alone. In fact, reports show that the number of people getting college degrees is higher than ever. There are more than 33 million Americans with a bachelor’s degree and over 16 million have a master’s degree.
Depending on the career path you wish to follow, you may want to go on to obtain a higher degree as well. Earning a higher degree means it will take you longer to graduate. But it also means you will gain two or more years gaining more specialized knowledge that will be useful to your career.
Broadening your business administration degree has many benefits you can use throughout your career, whether you are just starting out or working your way to the top.
Advanced Knowledge and Skills
When earning a bachelor’s degree in business administration, you can expect to take courses on a wide range of subjects that will make you marketable in many industries. You will expand your knowledge in the basics of accounting, management, technology, human resource functions and marketing.
In a master’s program, you will further the knowledge you learned in a four-year degree program. Courses that will enhance your knowledge on financial management, leadership, business analysis and ethics.
Advanced degrees give you more practice in research, communication, problem solving and decision making. Each of these skills individually are beneficial. But as a collective, can help you stand out in your professional life.
Both types of higher education programs prepare you to be a team player, while also acting as a leader, whether you are an entrepreneur or working for a company. In addition, you can substantially increase the number of transferable skills you possess.
Making connections with other professionals in your industry is considered networking. It is networking that can help you get referrals, leads and growth opportunities. You may also meet a mentor or two who can offer valuable advice.
With both bachelor and master’s degree programs, you will have access to professors who may have worked in the exact area of business in which you want to specialize. Professors can offer advice and first-hand knowledge you can apply in the real world.
Your fellow students may already be working in the business field. Many students today work full-time jobs while also attending college to obtain a higher education. This means you have access to their knowledge and mentorship as well.
You can take advantage of any social, educational and business-related events at your college or in the community. By the time you graduate, you can have an increased list of contacts, advice and insider informationthat can set you apart from your competition.
Sets You Apart from the Competition
Hiring committees review and compare many different factors when considering a candidate for hire. From previous work experience to extra-curricular activities. Level of education can sometimes be the deciding factor when two candidates have similar backgrounds.
If you have more education than your competitor, the hiring committee may see this as an advantage and choose you as their new employee. They may recognize that the more education you have, the more time you have taken to gain extra knowledge, as well as experience.
During the hiring process, you have the opportunity to share the great things you gained while earning your degree. You can mention the many connections you made through networking, all the events you attended to make these connections, and how those efforts will help you be successful in the job for which you are applying.
Show the company the numerous ways your broadened business administration degree can help them. They will appreciate your desire to use your assets to help their company. This technique may also help you later when you are seeking a higher income.
Potential for Higher Income
Earning a bachelor’s degree or higher gives you a great chance of earning more income in your career. The specialty area you choose within the business field may determine how much you earn.From accounting to marketing to finance can all bring varying salaries.
Being an entrepreneur and owning your own business firm can put you in charge of your earning potential.
Those who already have a proven track record and are already earning great salaries in the business industry usually continue to make more money than those just starting out in their career. They are most likely working and completing their degree program at the same time.
Another income factor is the type of company in which you choose to work. Typically, working for non-profit agencies, while the work may often be meaningful, may not always bring in the most income. On the other hand, large, private corporations sometimes can offer better salaries with bonuses and perks.
If you don’t start out with your desired income, don’t worry. With advanced degrees, you may qualify for promotions within your company.
Move Up Within the Company
In many companies, the higher the degree you earn, the more chances you have for promotion. Higher level executives seem to have higher education diplomas. Consider this, one third of the executives listed in the Fortune 500 have a master’s in business administration.
When you reach Chief Executive levels within a company, you are expected to already know how to make tough decisions that will help the company grow and thrive. All the things you learn in your advanced degree program courses culminate in this position, especially your leadership qualities that transferred with you from classroom to boardroom.
In the end, any degree in business administration is a good thing. But in the long run, there are more advantages to achieving a broader degree.