Business Administration is a field that can take you into the worlds of finance, accounting and marketing.
Positions in finance deal with money management, corporate finance, insurance, financial planning, commercial banking, investment banking, and real estate. Finance jobs can be found in banks, insurance companies, and personal investment firms.
Accountants maintain and audit records and prepare financial reports for businesses. Accounting specialties include public accounting, taxes, auditing, and managerial accounting. Jobs are found in a variety of industries including corporations, government, education, and accounting firms.
Positions in marketing can have you working with advertising, public relations, market research, and retailing. These positions can be found in advertising agencies, corporations, and non-profit organizations. Marketing can involve product development, promotion, market research, development of pricing strategies, and analysis of sales data.
As a business professional you will typically work in an office setting. Often, long hours can be required beyond the Monday through Friday, 8 to 5 workweek. Weekend and evening hours are often the norm when working under a deadline. Working under fast-paced conditions is also part of the business world.
Most business positions will require you to use computers and software. In addition to word processing, spreadsheets and data base software, most companies and organizations use specialized software unique to their business. The Internet can also play a big role in doing business, conducting research and communicating with customers and co-workers.
Travel can also be part of the job. Many times business professionals are required to meet with a client in another state or attend a conference across the country. Job promotions can mean needing to relocate. It is not uncommon to be transferred within a company to different parts of the United States
Many companies do business on a global level. This can mean that you might travel and relocate to exciting international locations. It can also mean that you will work with co-workers from different cultures and backgrounds.
Job growth in general business careers in Michigan is expected to increase 12 percent by 2020. Business careers vary greatly and encompass a wide range of careers. To determine the national employment outlook for the specific career of interest to you, visit www.bls.gov/oco/. Bigger cities offer the most job opportunities and career advancement.
A bachelor's degree is typically required for entry into the business field. A master's degree in business administration (MBA) is often required to progress into managerial positions.
Experience is critical for job promotions. Although extended formal education is a bonus, on-the-job experience is irreplaceable. This is especially true in banks. Loan officers are often promoted through the ranks to vice president and president positions.
If you are interested in becoming an accountant and want to advance, you should plan to get the Certified Public Accounting (CPA) designation. This is a license by the State Board of Accountancy. The states of Michigan and Indiana require CPA candidates to complete 150 semester hours of college coursework. Once you pass the CPA exam, you have the option to receive the Accredited in Business Valuation (ABV), Certified Information Technology Professional (CITP), or the Personal Financial Specialist (PFS) designations.
Job advancements in marketing comes from job experience and often a MBA with an emphasis on marketing. Due to the importance and visibility of marketing positions, these professionals are often advanced to high ranks within a company.