The Salary for Business Administration Right Out of College

Business administration majors made a median $49,200 per year right out of college, according to the April 2012 salary survey developed by the National Association of Colleges and Employers. The lowest earning 25 percent received less than $39,600 annually and the highest earning 25 percent made more than a yearly $61,100. This compensation fell in the middle starting range for all business degrees, which showed an annual median of $47,748. The highest starting pay belonged to economics majors, who received a median $54,800 per year. The lowest belonged to international business graduates who made a median annual $31,200.

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Basics

Business administration majors made a median $49,200 per year right out of college, according to the April 2012 salary survey developed by the National Association of Colleges and Employers. The lowest earning 25 percent received less than $39,600 annually and the highest earning 25 percent made more than a yearly $61,100. (REFERENCE 2, p. 9) This compensation fell in the middle starting range for all business degrees, which showed an annual median of $47,748. (REFERENCE 2, p. 4) The highest paying staring pay belonged to economics majors who received a median $54,800 per year. The lowest belonged to international business graduates who made a median annual $31,200. (REFERENCE 2, p. 9)

Industries

The industries with the highest starting pay for business administration graduates were professional, scientific and technical services, which provided business expertise to organizations that lacked sufficient in-house resources. Average wages here ran $55,200 per year for 15,000 entrants. The industry with the most positions was finance and insurance, which managed financial transactions. The 21,000 graduates here averaged an annual $51,300. The lowest paying industries were educational services, which handled the education of students at all levels. Mean wages here started at $44,400 for 5,000 workers.

Positions

The job title with the highest starting wages for business administration majors was financial manager, averaging $63,900 per year. This position was responsible for developing financial strategies and producing financial reports. Second for beginning salaries were marketing or sales managers, who set sales goals and generated customer interest in company products and services. They averaged $60,300 a year. The lowest-paying position belonged to specialists in human resources, training or labor relations at a mean annual $36,000. These workers handled employee issues at organizations and were responsible for employee training.

Advancement

As long as they are given tasks and projects with increasing responsibility, business administration graduates can demonstrate their organizational acumen. They can eventually rise to become the heads of departments and corporations. In these positions, they can set goals and determine the best strategies for attaining those objectives. They can also hire subordinates to assist them. The U.S. Bureau of Labor Statistics provided some sample annual salaries for these jobs as of May 2011. Chief executive officers averaged $107,410, general managers received a mean $114,490 and administrative services managers made an average annual $86,720.

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Source: http://docphy.com/business-industry/business/salary-business-administration-right-college.html