A degree in business administration opens the door to dozens if not hundreds or even thousands of career possibilities. From finance to human resources to marketing, a degree in business administration prepares you to take on upper-level roles in a business setting. but just how much can you expect to earn by working in this field? Let’s take a look at the average salary earned by those who have a degree in business administration.
Business Administration Salary by Job Title
If you have a master’s degree in business administration, you can expect to earn $25,000 to millions, depending on factors such as experience, type of employer and location. That’s a huge range, though, so let’s take a closer look at some of the job titles you could hold and the salary range you can expect with each one.
- Senior Financial Analyst: $50,050 to $100,000
- IT Project Manager, Information Technology: $57,779 to $100,509
- General Operations Manager: $34,622 to $179,372
- Marketing Director: $64,783 to $168,135
- Financial Controller: $56,673 to $123,468
- Financial Analyst: $24,511 to $92,978
By far, the largest range is, however, is found among upper level managers, such as vice presidents and CEOs. In these roles, you can easily own a six-figure salary and some earn even more – the top corporations offer million+ salaries to their CEOS and those holding other high-level roles.
Keep in mind that you don’t need a master’s degree to work in this field – you can get started with just a bachelor’s degree. To qualify for the top positions (and higher salaries), though, more education is necessary.
Bonuses for Business Administrators
According to Simply Hired, the average worker in business administration earned $59,000 as of June 2011. This is just a base salary, though. Many business administration workers receive annual bonuses, and some companies also offer signing bonuses and performance-based bonuses (almost like commission) for hitting certain goals. According to PayScale.com, the average business administration worker earned $3,700 to $35,000 annually in bonuses. Typically, the more you make as your average salary, the more you can expect to make as a bonus.
Other Business Administration Perks
Along with your salary and bonuses, you’ll also typically be offered a benefits package when you work in this field. This package usually includes things such as paid vacation days, health and dental coverage, travel reimbursement (or even a company car to drive), stock options, a retirement plan, discounts on company products or services, and more. The specific perks you receive depend on your employer.