Earning a business management degree online or a business administration degree online will set you on the path towards a successful career in fields like sales, finance, and human resources. Business management degrees and business administration degrees cover the ins and outs of finances to managing employees, allowing you to work your way into executive positions, or even start your own business.The Bureau of Labor Statistics (BLS) projects an 8% job growth rate in the field of business over the next decade. As startups continue to fuel business growth in many regions of the country, the need for qualified business leaders will continue to grow, making online business management programs and online business administration programs a practical and lucrative choice for college students.Online programs are flexible, allowing working professionals to earn a degree as they advance their careers. If you have an interest in the way businesses work, and if subjects like finance and economics come easily to you, an online business degree may be the right choice for you. Read on to learn more about the career options available to you after earning your business administration or business management degree online.
Meet Our Expert: Jason L. Hotch
Business Management Graduate, Colorado State University-Global Campus
Online Business Management Degree Overview
An associate degree in business management or business administration can provide you with the knowledge and skills you need to work as an HR or administrative assistant. Higher-level management jobs in business typically require a bachelor's degree and often require some form of relevant career experience. Since many students work while they earn their online business management degrees/business administration degrees, they often have an advantage over recent business graduates who may have less work experience.Online master's in business administration (MBA) degrees allow for quicker advancement in the business world and open up opportunities for higher-level positions. Many business leadership positions do not require an MBA, but if you have a two-year or four-year online business degree, you may require several years of relevant experience to compete with MBA degree-holders for high-level jobs.
| Degree Level | Average Cost | Loan Default Rate | Time Commitment | Early Career Pay | Mid-Career Pay | Unemployment Rate |
|---|---|---|---|---|---|---|
| Associate | $12,824 | 15.7% | 2 years | $45,600 | $51,000 | 7% |
| Bachelor's | $17,700 | 10.3% | 4 years | $41,000 | $69,000 | 4.5% |
| Master's | $19,104 | 8.5% | 1+ years | $64,000 | $92,000 | 3.9% |
Online Business Management Degrees
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| Career | Median Salary | Projected Growth | 2014 Employment |
|---|---|---|---|
| Top Executive | $102,690 | 6% | 2467500 |
| Financial Manager | $117,990 | 7% | 555900 |
| Management Consultant | $81,320 | 14% | 758000 |
| Accountant | $65,940 | 11% | 1332700 |
| Human Resources Manager | $104,440 | 9% | 122500 |
Online Business Management Degree in Action
Meet Our Expert: Jason L. Hotch
Business Management Graduate, Colorado State University-Global CampusJason Hotch attended the University of Alaska Anchorage (UAA) while working full time. He attained over 90 credits at UAA before transferring into Colorado State University-Global Campus (CSU-Global), receiving an associate from UAA in 2013. He completed his remaining coursework online for a BS in business management at CSU-Global. He graduated with a 3.41 GPA and was chosen as student commencement speaker for the class of 2015. He manages millions of dollars in budgets and works closely with state and federal departments.
Online Business Management Professional Requirements
CPA Exam
In order to take the CPA exam, you have to have an online bachelor's in business administration or a similar business degree from a four-year college or university. You also need to have taken at least 30 hours of undergraduate coursework in accounting/taxation. The computer-based CPA exam takes a total of 14 hours to complete and requires the completion of four sections: Auditing and Attestation, Business Environment and Concepts, Financial Accounting and Reporting, and Regulation. Each of these sections can be completed on a different day, based on your schedule. If you are interested in an advanced-level career in accounting or opening up your own accounting agency, this exam is a must.
GMAT
The Graduate Management Admission Test (GMAT) is a standardized test for those who wish to enroll in graduate school, similar to the GRE. The GMAT is intended for those who plan on enrolling in MBA programs or other master's degree programs in business. Most graduate business programs, including graduate business administration degree online programs, require GMAT scores from applicants to assess their readiness for the study of business at a higher academic level.
Certified Financial Planner (CFP)
The Certified Financial Planner (CFP) exam tests your ability to apply financial planning knowledge to real-life financial scenarios. It presents you with these scenarios, and you have to choose what course of action you would take to increase the chances of financial success. The CFP exam is an essential step in building your credentials as a financial planner. A four-year college degree and the completion of specific college coursework outlined by the test's facilitators are required before taking this test. Business administration degrees often give test-takers an edge because of their broad base of knowledge about finance, but no specific college major is required, as long as all the necessary courses are completed.
Six Sigma
Six Sigma certification is offered through an employee's company. It provides training and assessment to test competencies in different business areas. Depending on which Six Sigma package your company purchases and the number of training courses/assessments you complete, you can become certified as a Green Belt, Black Belt, or Master Black Belt. Each of these certifications demonstrates your expertise in certain areas of business.