Online Degree Programs Available in Administration / Management
All About an Online Business Administration Degree
Can you see yourself one day running your own company or, at the very least, managing a team of workers within an existing organization? If the answer is "yes," then you may want to pursue... an online business administration degree.
Sometimes referred to as an online business management degree, this credential is designed to help students acquire the knowledge and skills they need to pursuetheir leadership goals.
Management training at all levels
Business degrees focused on administration or management are available at different levels. The choice between pursuing an associate, bachelor's or master's ultimately depends on your academic and professional goals, as well as other factors such as time and finances.
An associate's, for example, typically takes two years to complete, while a bachelor's will typically require four years to finish. What the different credentials share in common is a focus on providing a foundation in the core elements of running a business. Beyond the undergraduate level, you can further your knowledge by pursuing a Master of Business Administration, or an MBA as it's more commonly known.
Putting management skills to use
The leadership qualities companies look for in employees vary, but there are certain roles online business administration degrees could prepare you for better than others.
For instance, there's the role of a compensation and benefits manager. In this leadership position within an organization, you may handle such tasks as coordinating how much a company pays its employees, as well what types of benefits these individuals receive. It's a managerial role that may require you to hold at least a bachelor's degree in business administration, but oftentimes an MBA is preferred.
Of course, whom you work for and how many years of experience you have, among other factors, will influence how much you could earn as a compensation and benefits manager. However, the U.S. Bureau of Labor Statistics provides the median annual wages for this profession, as well as other jobs you may be able to pursue after earning an online business management degree.
- Compensation and benefits manager: $95,250i (3 percent employment growth projected through 2020)ii
- Management Analyst: $78,600iii (19 percent employment growth projected through 2020)iv
- Financial manager: $109,740v (9 percent employment growth projected through 2020)vi
- Top executive: $168,140vii (11 percent employment growth projected through 2020)viii
Building tomorrow's leaders
While enrolled in online business administration degree programs, you could expect to take such courses as accounting, entrepreneurship, finance, marketing and, of course, management, among others.
These classes are designed to help you acquire many of the essential traits you may need if you're to pursue leadership positions. Top executives, for example, typically possess good decision-making and problem-solving skills. Classes focused on entrepreneurship and management may teach you a few things about developing or honing these skills.
At the same time, compensation and benefits managers should have strong analytical skills and business acumen, both of which online business administration degree programs often focus on developing in students.
[i] bls.gov/ooh/management/compensation-and-benefits-managers.htm#tab-5 [ii] bls.gov/ooh/management/compensation-and-benefits-managers.htm#tab-6 [iii] bls.gov/ooh/business-and-financial/management-analysts.htm#tab-5 [iv] bls.gov/ooh/business-and-financial/management-analysts.htm#tab-6 [v] bls.gov/ooh/management/financial-managers.htm#tab-5 [vi] bls.gov/ooh/management/financial-managers.htm#tab-6 [vii] bls.gov/ooh/management/top-executives.htm#tab-5 [viii] bls.gov/ooh/management/top-executives.htm#tab-6