What is Business Administration?
Interested in pursuing an education in business administration? Maybe you’re new to the field and looking into bachelor’s programs, or maybe you’re a working professional or recent graduate interested in pursuing an MBA to bolster your knowledge and credentials. Whatever the case, there’s a business administration program out there to fit your personal and academic needs.
Business administration is a broad field, and that label includes many different types of professional roles and industries. In terms of education, business administration generally refers to specialized business practices and principles, often in a concentrated area. It also includes training in the management of time, resources, and personnel.
If that piques your interest, here’s a closer look at business administration degrees, where they can take you, and which schools offer the best business administration programs today.
What Can I Do With A Business Administration Degree?
Business administration degrees prepare you for a wide variety of roles in the professional world. Your career path with this type of training depends largely on your personal interests and goals, so you’re not bound to one narrow selection of jobs when you graduate. Many of the roles you’ll qualify for depends on your experience and level of education, too. Bachelor’s and master’s degree-holders often seek out different types of positions.
When you earn a bachelor’s degree in business administration, you can seek out entry- and mid-level positions such as sales manager, financial analyst, and market research analyst. Master’s degree-holders often qualify for upper-level positions in the field, including positions like investment banker, investment fund manager, marketing manager, and supply chain manager, to name a few.
How Much Do Business Administration Graduates Make?
Similar to the variability in possible career paths you can take with business administration training, salaries also vary greatly among positions. The good news is that most learners with business administration training secure careers with salaries well above the national average.
According to research conducted by the Florida National University in 2019, business administration bachelor’s degree-holders often earn between $60,000-$120,000 per year, depending on the role and their amount of work experience. FNU reports that MBA holders often earn up to $155,000 per year, with the average worker in this area earning $142,000 with three years of experience.
The 10 Best Business Administration Schools in the U.S. 2022
Established in 1740, UPenn is a private Ivy League research school with about 22,400 students. UPenn’s Wharton School features bachelor’s and master’s degrees in business administration. Graduate students can take advantage of its world-renowned MBA program, including its dual JD/MBA or MBA/MA programs. Learners can choose from 18 MBA concentrations, including business analytics, finance, healthcare management, and marketing.
WashU is a private research institution established in 1853. Its Olin Business School offers bachelor’s and master’s degrees in business administration. Undergraduates choose from concentrations such as finance, accounting, healthcare management, and marketing. MBA students can take advantage of several programs, including a full-time traditional MBA, an online MBA, and a part-time degree program designed for working professionals. WashU graduate students can also pursue executive MBA programs in Mumbai and Shanghai.
Established in 1865, Cornell is a private Ivy League school with about 24,000 students. Its SC Johnson College of Business offers one- and two-year MBA programs. The school also offers a tech-center MBA program in New York City for learners interested in pursuing careers in business and entrepreneurship in technology. Cornell also boasts MBA dual-degree programs in law, industrial and labor relations, medicine, health administration, engineering, and public administration.
Centered on business training and education, Bentley is a private school in Waltham, Massachusetts. Established in 1917, the university boasts 5,600 students and offers part- and full-time MBA programs for graduate learners. The school also offers a fully remote MBA option. Degree-seekers choose from concentrations in business analytics, law and taxation, leadership, marketing, accountancy, finance, and information systems and technology.
Established in 1863, BC is a private Jesuit university located in Chestnut Hill, Massachusetts. The school boasts more than 14,500 students and offers an MBA program through its Carroll School of Business. Learners can choose from a full- or part-time MBA program. BC’s program is easily tailored to fit your academic needs, offering more than 150 elective course options and a data analytics concentration.
Miami is a private research institution in Coral Gables, Florida. Miami’s Herbest Business School features 13 MBA programs. Learners choose from programs such as its full-time or online MBA, accelerated MBA in real estate, or joint degree programs like an MD/MBA or JD/MBA. One standout offering is its dual Bachelor of Architecture/Master of Business Administration program.
Established in 1880, USC is a private research school in Los Angeles. The Marshall School of Business at USC offers bachelor’s and master’s degrees in business administration. The undergraduate business administration program offers unique specializations, including business administration concentrations in the cinematic arts, international relations, real estate finance, and computer science. MBA learners choose from full-time, part-time, one-year, and executive programs.
Tulane is a private research institution established in 1834. The school boasts approximately 14,100 students and is one of the most selective universities in the country. Its Freeman School of Business offers one- and two-year MBAs. Graduate students can also choose from joint degree programs such as the JD/MBA, MD/MBA, or MBA/Master of Sustainable Real Estate Development.
Established in 1785, UGA is one of the oldest universities in the U.S. and serves approximately 39,000 students. The public school’s Terry College of Business offers 10 bachelor’s degrees in business administration, with concentrations including management, real estate, marketing, risk management, finance, and economics. Graduate learners can choose from a full-time, executive, or professional MBA program depending on their work experience. The MBA program features nine available concentrations, including social innovation, marketing, FinTech, and healthcare management.
UNC-Chapel Hill is one of the oldest universities in the U.S., founded in 1789. The school today serves more than 30,000 students and offers top business training in its Kenan-Flagler School of Business. Graduate students can take advantage of its five types of MBA programs. Learners choose from a full-time, online, evening, weekend, and dual MBA track. Students choose from several concentrations, including business analytics, consulting, corporate finance, marketing, and operations management.
How Do I Pay for My Business Administration Degree?
Paying for a business administration degree can be a serious hurdle for many students. The good news is that you can apply for several types of financial aid to help offset the cost of your business program.
For learners with no internal funding from their department, applying for as many scholarships and grants from external sources as possible is your best route for interest- and tax-free financial support. Undergraduate and graduate business administration students can also apply for federal and private loans, but you would have to pay back what you borrow plus interest. Scholarships and grants are essentially free money that you do not need to repay.
Regardless of whether you think you need financial aid or not, all students should fill out and submit a FAFSA to receive consideration for funding.
Scholarships for Business Administration Students
Government Finance Professional Development Scholarship: Full-time graduate students can apply for one of four $10,000 awards. Applicants must be part-time students at the graduate level studying business administration with a focus in government.
Association of Latino Professionals for America Scholarship: Latinx students can apply for this award worth up to $10,000. Applicants must be pursuing a two- or four-year degree in STEM topics, finance, accounting, or business.
Microsoft Disability Scholarship: Worth up to $20,000, this award is reserved for learners with a recognized disability who plans on studying computer science, law, or business in college. Applicants need a 3.0 or higher GPA to qualify.
Ritchie-Jennings Memorial Scholarship Program: Worth up to $10,000, this scholarship is for graduate and undergraduate learners who have declared a major in business administration, accounting, finance, or criminal justice. Applicants should have an interest in an anti-fraud profession.
AAUW Selected Professions Fellowships: This award is for students who identify as women and enrolled as a full-time learner in a law, STEM, business, or medicine degree program. Applicants must also be U.S. citizens or permanent residents. The award amount ranges from $5,000-$18,000.
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