Business Administration salary and the factors
Good salary is always a dream for every professional apart from job satisfaction. People opt for business related education for two reasons: personal interest and salary. Career in business education is always stable with good amount of money. The best part of Business Administration degrees is that we can make money as an employer and also as an employee. Business administration salary is always considered as one of the best salary amount among the professional courses. Anyone who wants to undertake a business field career would be very eager to know the salary range. The types of business administration education, factors and the variation in salaries are explained here.
There are mainly four categories in business administration degrees namely associate degree, bachelor, masters and PhD in Business administration. Salary for each of these levels varies depending upon the roles and responsibilities. For instance, business administration salary for Associate degrees ranges from $28000 to $48000 depending upon the role you play in the organization. But remember this is just the starting pay. You can definitely groom yourself and shine in your career which will pay you more. Associate degree holder playing managerial roles can earn minimum $36000 annually at the start. Generally Human resources department and finance pay the highest.
Bachelor degrees in business administration will earn you around $50000 to $90000 depending upon your positions. Masters in Business Administration has a real scope in today’s business world. Master degrees can easily earn around $90000 annually for you. US, UK companies pay like anything for master degree holders in Business Administration. Business Administration salary for PhD a high level degree is around $120000 annually and that is really big. Though each degree has its own value, minimum bachelor degree is a must to meet the salary expectations. The Business Administration salary listed above is mostly what the private firms’ pay. Also government jobs with good pay and job security are widely available for business administration people.
Specializations in Business Administration degree can influence the salary range to some extent. But definitely the salary growth is stronger for people in Business Administration line. Holding a professional degree like software engineering in addition to Business administration degree will help your chances of getting good pay. Requirements are very large in business administration sectors compared to other sectors. They have scope in insurance companies, finance, hospitals, etc.
Business administration salary range depends on many factors like the organization in which a person is employed, his educational background, specialization, location, etc. Statistical analysis show that non-profit organizations especially hospitals provide good salary for business graduates. Cities like New York, California, Texas provide good scope for Business administration people and the salary range is high. It depends on the rules and regulations for salary in a particular province. Depending upon the status of your employment (permanent or temporary) salary differs around $10000 to $30000. Business administration salary for beginners is really good. Organizations pay them more than what should be paid for internships. Apart from very few influential factors, Business administration degree is always worth a good salary in all other aspects.