How Much Do You Make With a Business Administration Degree?
How much you make with your business degree depends on which degree(s) you have earned and the field of work you choose. When you know which fields pays the most, you may choose the most lucrative specialty you find intriguing. When you see the difference in pay rates according to degree, you can determine which degree best fits your career and income goals. With business administration degrees, enjoy having a potentially unlimited top-end salary.
The associates degree in business administration has a starting annual salary from about $25,000 per year for positions in retail or banking to $50,000 for a worker in human resources, for instance. Between these high and low salary positions, we find several other jobs such as office manager, executive assistant and customer service representative. Associate degrees in business require two years of full-time study and can be earned at community or state colleges. The Online Business Degree website offers a searchable database of business salaries by city and state.
If you invest two more years of study, you earn a four-year bachelors degree in business administration. Annual starting salaries range from $35,000 to as high as $88,000 for a financial controller, for instance. Between the high and low ranges fall positions such as human resource manager or director, senior accountant or a project manager in Internet technologies or construction. Experienced workers can expect to make more than these starting salaries.
Image via WikipediaA masters degree in business administration (MBA) elevates starting salaries to a range of $73,000 to $112,000 per year. Lower salaries fall in government or health care administration. A masters degree often requires a substantial financial investment. Oftentimes, MBA degree holders are in greater demand than those holding doctorate degrees in business administration. The MBA also enables the holder to teach business subjects at the community college level. According to the Online Business Degree website, having an MBA degree brings at least a $10,000 per year higher starting salary than a bachelors degree. Quintessential Careers states you may start earning as much as $30,000 more income per year upon graduation.
Doctorate degrees include the Doctorate of Philosophy in Organization and Management (PhD) or the Doctorate in Business Administration (DBA). Both degrees enable their holders to teach at the university level. The PhD degree, however, further prepares the candidate to do scholarly research. Starting salaries are $110,000, and experienced professors can make as much as $150,000 per year. DBA degree candidates focus on learning how to apply business theory to the workplace, as opposed to PhDs who focus on theories of business. Because the focus is on management, chief executive officers often get a DBA degree. Salaries start at $140,000 per year and carry with them a nearly unlimited earning potential.