Business management is a multifaceted field, extending opportunities across diverse verticals. Business managers across MNCs have one primary goal, to guide every team member throughout the process and handle different business segments. This versatile nature of business management and an expanding range of career opportunities make it one of the rising industries in the market.
With over 215,758 business analysts actively working in the US, the business management vertical is currently experiencing high demand in NY, US. Moreover, the annual wage starts at $87,712, proving the lucrative nature of this field and compelling hundreds of others to pursue it.
Business management branches across multiple disciplines, allowing you to find your potential in the most suitable one. If you, too, want to pursue a career in business management, this is the right place to get started! We have listed the top ten career options under business management in the US.
Top 10 Careers in Business Management
Working on your skill set is the foremost requirement while exploring business management roles. Strong communication skills, leadership qualities, fundamental and advanced business management concepts, and teamwork are a few of the many desired skills employers seek in a business management candidate. These skills also work as a deciding factor to push you through a specific field among the extensive list of business management careers.
Let’s explore some of these roles that are popular in the US.
Chief Executive is one of the highest-paid jobs in the world. Chief executives have to plan, coordinate, and evaluate the tasks of different departments within a company. They ensure a smooth procession of tasks and are required to have significant skills to deal with obstacles. The estimated annual salary of the Chief Executive starts from $179,520.
Marketing managers are responsible for building the company’s strategies, profits, losses, customer details, and so on. The marketing manager is also seen as a connecting link among other vertices of the company. For example, sales, public relations, account managers, project managers, and many more. Business development degree jobs require you to become a connoisseur of diverse media channels to utilize each for service or product endorsement. The annual salary of marketing managers is $133,800.
Financial managers’ primary role is to maintain an organization’s financial health by overseeing investments, budgeting, and various finance-related decisions. They are supreme advisors for long-term financial goals invigilating even the most minor monetary decisions. The activities that come under this profile are investment activities, financial planning, annual reports, investors presentation, and more. The annual pay of Financial managers is $131,710.
Sales managers are the foundation of any organization, honing their role of setting sales goals by analyzing data and training candidates to successfully take up the role of convincing sales personnel. One of the most significant skills a sales manager must possess is fluency in communication. Not only does it help curate a convincing sales agenda, but it also helps train fresh sales professionals to learn the art of persuasion. If you’re someone fluent in the art of persuasion and communication, this is the perfect role for you! The annual wage of sales managers is $127,490. The role of a sales manager offers plenty of room to exceed annual pay by surpassing established targets.
An account manager is the face of a business that carries out 1-o-1 sessions with the stakeholders, executives, and clients to create valuable relationships with their companies. They oversee all the team endeavors and carefully supervise each member’s task towards maximum efficiency. Account managers can also play a variety of different roles, such as– financial advisor, project manager, technical specialist, sales representative, business development manager, and so on. They must exhibit some common skills, including good verbal and written skills, teamwork, problem-solving, and supervision. The annual package of account managers starts at $65,000.
Project/ Portfolio Manager
A project manager is one of the most interesting jobs that come under business management. A project or portfolio manager handles different projects that come under a company. They are responsible for guiding, monitoring, and helping other team members in various projects. Project managers, too, work across different parallels of a company, for instance, connecting team members and higher authorities or stakeholders. To ensure overall growth, a good project manager should understand business, technical skills, finances, and other departments. Moreover, the soft skills required for this role are– brilliant collaboration skills, communications, analytical, knowledge of tools, and many more. The annual salary of project managers starts at $77,199 and goes beyond, based on performance.
Compensation and Benefits Manager
The main job of a compensation and benefits manager is to supervise the salaries, retirement plans, insurance, and other benefits present for the company’s employees. They have one of the most diplomatic jobs in a company as they work across spheres that maintain and balance the overall health of employees and the organization. The annual package starts at $127,530.
Medical and Health Service Manager
A medical or health service manager is one of the most crucial positions in the business. Their imperative contribution behind the scenes of hospitals and clinic centers ensures the effective functioning of any healthcare facility. They supervise all the medical duties undertaken by hospitals, which primarily include training hospital staff, monitoring health care records, scheduling appointments, and communicating with other parallels of the hospital. This profile is perfect for candidates with a medical background who want to pursue a career in management. The median annual wage starts at $104,280.
Public Relations/ Fundraiser Manager
A public relations manager takes good care of the company’s reputation by taking charge of a company’s programs and ensuring an upright presence in front of stakeholders and the general public. PRs have a significant role in gathering sponsors and maintaining an image in the media. In order to pursue this role, interested candidates are required to hone many different skills, including top-notch communication, analytical skills, media knowledge, business knowledge, creativity, and many more. Fundraiser managers also work along similar lines. They gather funds for the company uniquely and creatively. They are responsible for planning out the marketing and PR strategies quarterly. The annual salary of PR managers ranges from $119,860.
General and Operations Manager
General and operations managers ensure the smooth running of a business by undertaking the activities of almost all the vertices. A role as versatile as an operations manager’s demands a prominent skill set and years of experience. From supervising team members on basic tasks to making sure the deliverables reach clients on time, an operation manager juggles several responsibilities making it one of the most crucial positions in the US. The Bureau of Labor estimates a growth rate of 9.4% for the role of business operations manager in the US, making it a compelling option for many business management graduates! The annual wage of this profile starts at $82,360.
Business management’s scope and growth opportunities are evident, not just in the US but across the globe. These exceptional opportunities should be enough to motivate candidates to pursue one of these choices as their career path. However, business management requires a combination of hard and soft skills. An early start is the only way to build skills as well as a significant portfolio with years of experience!
A business management course can be the perfect choice to get started on your journey to obtain lucrative business management opportunities. upGrad offers a Doctor of Business Administration program tailored specifically for management and administration departments. If you want to upskill yourself to bag your dream business management role, check out this course on upGrad!
What do you study in business management?
Some of the main topics covered under the business management course are- 1) Accounting and Management 2) Business with entrepreneurship 3) Business Analytics 4) Commercial Management 5) Brand Management
What are the types of business management?
There are three broad business management styles: autocratic, democratic, and laissez-faire.
How valid is a business management degree?
A business management degree can open doors for diverse management roles, strengthening your foundation to pursue lucrative opportunities in the business management job market. It prepares you with fundamental and advanced business concepts while keeping you updated on current and future trends.