A degree in business management is a fantastically versatile qualification. All industries need business experts, and you will find that your skills are transferrable to almost any industry. You will probably find that you have a lot more career opportunities than your peers who are graduating with other degrees. However, this can make it difficult for you to narrow down the field you would like to work in. Here are some great ideas for careers with business management qualifications.
Accountancy
Accountancy is the backbone of any business. Accountants make sure that the books balance and the business taxes get paid on time. A business can’t run without an accountant or at least someone with accountancy knowledge to carry out the financial reporting. Many companies take on trainee accountants with business management degrees. However, you will need to obtain additional accountancy qualifications to become a fully qualified accountant, and this could take a few years. It is certainly a lucrative career once you are qualified though, and the salary rises if you reach Chartered Accountant Status.
Finance
A career in finance can be varied and financially rewarding. A financial analyst will offer advice to the company they work for on how to keep costs down and make sure the business is running efficiently. They often hold the purse strings in a company, and this is a very trusted position. They provide cost reports for new systems implemented within the company and maximise profits. They also offer financial forecasting to the board of directors. Many financial analysts work directly for large corporations, but others work for financial analysing firms who are then hired by companies to help them decide where their money is best invested.
Financial Advisor
A financial advisor advises individuals who want to invest their money. Their clients are usually high earners or people who have come into a sum of money due to an inheritance or insurance pay out. The advisor will offer their expertise in areas such as pensions, funds, investments, and mortgages. You will need to obtain a Diploma in Financial Services to be qualified to give financial advice, but many firms take on trainees to help out with the day-to-day aspects of the company while they are getting qualified and then let them take on their own clients. This is quite a sales-based career so you will need to be good with people as well as numbers in order to make this industry your home.
Management Trainee
As a Business Management degree is such a versatile qualification, most industries will take on management trainees with relevant degrees. This is a great way to get your foot in the door of any business and then work your way up into senior management. Whether you want to work for a large hotel chain or work in the engineering industry, a degree in Business Management will certainly not be wasted.
Traineeships can be very competitive to get into, so further study will put you ahead of the game. Business degrees such as an MSC in Business Management can give you that competitive edge and make your CV stand out to any potential employer. You can study for this online if you would prefer to so it would be possible for you to combine this with some practical work experience too.
HR
A degree in Business Management can help you break into the Human Resources industry. This is a great place to be if you are good with people and it helps if learning people management skills has been a part of your course. HR professionals oversee the hiring and firing of staff. They manage grievances and act as a go between in disputes between employers and staff. They need to have a fantastic knowledge of employment law and how it relates to their business, but this can be learned on the job. HR often incorporates payroll too, so a good grasp of figures is important as this is how everyone in the company will be paid.
Marketing
Marketing is a creative industry that deals with identifying potential markets for a company’s products and creates the best ways of getting those products in front of their intended audiences. This could be anything from designing adverts for magazines or TV advertising to writing advertising features for industry magazines. They develop the strategies that will maximise profits and the analysis and reporting skills you have learned during your degree will be very useful in this industry. You will need to have a creative flair as well as good business skills to work in this field and it can be an incredibly competitive market to get into.
Entrepreneur
With the skills you have acquired in your Business Management degree, why not become an entrepreneur and run your own enterprise? If you have a fantastic new idea that you think would be lucrative or even if you know you can take someone else’s invention and improve on an existing product or service, then why not work for yourself? Your Business Management degree will really come into its own here as you will need to be great with numbers to make sure that you can make a profit. You will also need to be able to market and sell your idea as well as dealing with the hiring and firing of staff. As your business grows, you will be able to hire experts in areas such as IT or HR to help you, but having that business degree will still be very important for the overall management of the company.
There are so many industries that you could go into with a Business Management degree. Whether you want to be the financial backbone of the company or use your business analytical skills in other areas such as marketing or HR, your qualifications will be in great demand. Further study is always useful and essential for some of these areas, but this will add to your marketability and hopefully your salary too.