Why Should you Choose a Career in Business Administration?

For anyone looking to establish themselves in a challenging and fast-paced professional environment, a career in business administration is ideal and can lead you to a range of varied and exciting jobs. In addition, the demand for skilled business administrators has seen an increase in recent years, encouraging more students to take up a career in the field. This article explores why choosing a career in business administration can be a valuable and worthwhile option. 

What is Business Administration?

One of the best aspects of a career in business administration is that you will probably never just focus on just one part of an organisation. A career in the field means you will be overlooking different business operations ranging from marketing to finance. It requires familiarity with some of the following business fundamentals:

• Marketing principles;
• Law and ethics;
• Economics and finance;
• Business research;
• Global business strategies;
• Principles of accounting;
• Computer applications;
• Management theory.

A career in this field will require you to perform a variety of tasks such as analysing data and market trends, managing an organisation’s finances as well as developing policies to improve the efficiency of business operations. Business administrators work in a variety of sectors. Some of these sectors include:

• Schools, hospitals and banks;
• Government agencies;
• Non-profit organisations;
• Real estate firms;
• Manufacturing industries;
• Transportation agencies and distribution centres.

What Do Business Administrators Do?

Business administrators play a vital role in ensuring the smooth operation of organisations. They take on a variety of responsibilities, from managing teams and overseeing budgets to developing business strategies. Many business development jobs involve leading market analysis, managing projects and driving innovation. A business development career often requires taking business development classes to further enhance skills in market expansion and client relations. Whether working in corporate settings or entrepreneurial ventures, business administrators are key players in shaping the future of organisations.

Importance of Studying Business Administration

Pursuing a business administration degree is crucial in today's competitive job market. This versatile qualification equips you with a broad understanding of how businesses operate, preparing you for leadership roles across various industries. A business administration course helps develop skills in areas such as management, finance and strategy, all essential for navigating complex business environments and driving organisational success. Whether you're looking to start your own venture or climb the corporate ladder, a degree in this field offers numerous opportunities for growth and professional development.

Essential Skills to Succeed in Business Administration

Developing key business administration skills is vital to succeed in the field. These include leadership, communication, strategic thinking and financial literacy. Strong administration skills, such as time management and organisation, are critical to efficiently managing business operations.  These competencies prepare you for high-level decision-making and ensure you thrive in diverse, fast-paced environments. Whether you aim for roles in management, finance or marketing, having a robust set of business administration skills will significantly enhance your employability. Business administration jobs pay increasingly competitive salaries, and possessing these skills helps you stand out to top employers.

Why is Choosing a Business Administration Course a Good Choice?

Business administration is a smart choice for securing a successful future as it can open doors to a variety of career options. It helps students obtain roles that have long-term prospects. Students can develop career-specific skills that improve their employability and can help them enter many different fields ranging from healthcare administration to corporate management. 

Below are a number of reasons why business administration courses are becoming increasingly popular among students:

• Provides a broad business perspective, exposure to a variety of disciplines and multiple career pathways;
• Helps in acquiring management skills that are essential to leading a business or becoming an entrepreneur;
• Paves a way to earning a higher education qualification such as an MBA;
• Prepares students for the workplace setting by developing interpersonal skills;
• Improves communication skills and collaborative learning.

Career Opportunities in the Field of Business Administration:

• HR Director (Average annual salary:£79,206)

Human resource (HR) directors are responsible for managing resources, ensuring compliance with employment law and the happiness of their employees. In addition, HR professionals oversee the recruitment process which will involve sourcing and vetting candidates. Other responsibilities also include managing employee relations and resolving disputes, together with developing and implementing training programmes to support employees. The ultimate goal of the HR department is to retain qualified employees by promoting teamwork and collaboration as well as ensuring the successful implementation of internal processes. The earning potential of HR Directors depends upon their work experience and qualifications. Usually, there will be opportunities to complete further study on the job to help increase an employee’s skills and income.

• Financial Controller (Average annual salary:£56,067) 

Financial controllers are responsible for overseeing financial and accounting procedures within an organisation. They will also work towards maintaining positive revenues and financial growth. Daily tasks will include overseeing accounting operations and auditing processes, managing company transactions as well as preparing budgets and financial forecasts. A successful financial controller will be able to achieve financial targets by developing plans that align with an organisations strategy.

• Operations Manager (Average annual salary:£57,500)

Operations managers are an integral part of any management team and work to improve the quality, productivity and efficiency of an organisation. They oversee advanced-level HR operations such as attracting talent, setting training standards and hiring procedures. They are also involved in making strategic decisions and implementing operational policies and procedures.

• Market Research Analyst (Average annual salary:£25,145)

Market research analysts help companies market their products and services by gathering data on customer demographics. They primarily look at market conditions and collect information about customers using interviews, questionnaires, focus groups, public opinion polls and literature reviews. Analysts are expected to understand business objectives and design surveys based on customer preferences. In addition, they evaluate results of market research to identify market trends, business models, sales, potential markets, product demand and pricing.

• Advertising Executive (Average annual salary:£21,123)

An advertising executive is the key point of contact between clients and media agencies. Their main responsibility is to understand a client’s advertising and business needs.

They work to maintain customer satisfaction, manage their accounts and ensure continuous development of business activities. Their customer-oriented approach helps them comprehend the needs and specifications mentioned by their clients. Some of their day-to-day activities include organising promotional events and designing creative campaigns or projects, negotiating budgets with clients, making detailed presentations to perform pitches to win new work. 

High-Paying Jobs in Business Administration

A degree in business administration can lead to a wide range of high-paying career paths. Here are some of the top positions you can pursue, along with their average annual salaries (according to Glassdoor):

• Chief Executive Officer (CEO): As the highest-ranking executive in a company, CEOs manage overall operations and make key strategic decisions. The average salary for a CEO is approximately £135,000 annually
• IT Manager: Overseeing the technological needs of a company, IT managers earn an average salary of £120,000 per year, with additional earning potential in specialised sectors like cybersecurity​
• Financial Manager: These professionals manage the financial health of a company, with average salaries reaching around £85,000 annually
• Marketing Manager: In charge of developing strategies to drive sales and customer engagement, marketing managers earn an average salary of £75,000 per year
• Human Resources Manager: Responsible for managing the workforce, HR managers can earn up to £80,000 annually
• Project Manager: Project managers, especially in industries like construction or IT, earn approximately £95,000 per year
• Data Scientist: Known for transforming data into actionable insights, data scientists can command salaries of up to £120,000 per year

With these lucrative business administration opportunities, pursuing a business administration degree can lead to financially rewarding and diverse careers.

Conclusion

If you are highly organised, goal-oriented and enjoy working in a team, then a career in business administration could be the right choice for you. London School of Business and Finance (LSBF) offers a wide range of programmes designed to help you excel in this field, including the comprehensive BSc (Hons) Business Administration. By enrolling in a business administration course, you gain access to valuable resources and career support that can help you succeed in this dynamic industry. The benefits of a business administration degree extend far beyond the classroom, preparing you for a range of high-demand roles across various sectors.