Is Business Management a Good Degree?

Overview

The risk when you study for a degree in business management is that you graduate without a specific area of expertise. Unlike accountancy, finance, marketing, human resources, or economics, for example, you lack advanced technical skills for a particular line of work.

However, this apparent weakness can also be a strength. With on-the-job training, you could potentially forge a career in any of those areas just mentioned. You also won't be pigeon-holed into a narrow field for the rest of your career. Your options may be wide open.

Is a business management degree worth it? Yes, if you're not relying on a "vocational" major to get your first job and provide ongoing employment security. It is a good program for the brave, connected, or undecided. The degree will not diminish in value and could set you on a path for an interesting and rewarding career.

What Is a Business Management Degree?

Business management degrees are well-rounded business program with a focus on managerial activities. Many undergraduate and postgraduate courses are available. In the case of a Bachelor of Business (Management), the program will typically consist of:

core business disciplines such as introductory economics, finance, marketing, and management;
electives such as analytics or human resource management; and
specialist management subjects.

Examples of specialist subjects in this field include organisational behaviour, logistics, services management, strategic management, project management, and leadership. The focus is on managing people and operations.

Benefits of Majoring in Management

A degree in the field of business management is valuable for many reasons. Here are the key advantages compared to other degrees, especially versus specialised commerce programs.

1. Wide exposure to business disciplines

The scope of jobs you can potentially apply for is broad because the degree exposes you to many business disciplines. Graduates have studied all the core business fields, completed electives in areas of interest, and are prepared for different kinds of managerial roles.

2. Employers consider you to be versatile

While all business graduates have the potential to be adaptable, management majors may be seen as more versatile. Their qualifications are not tied to a particular field, as can happen with graduates in areas such as accounting or marketing. This qualification may be appealing to employers who anticipate training graduates on the job rather than relying on pre-existing skills.

3. Well positioned for some jobs

For a range of positions, a business management degree may be the best qualification to hold or close to it. Sales is an example, where the job duties are managerial in nature and specialist degrees in this field are rare. Other examples include small business administration, public service jobs, and business development.

4. Can feel your way to your ideal career

Committing to a profession is a significant decision that is hard to make with confidence when you have limited work experience. A generalist degree in management gives you the opportunity to try different fields and navigate your way to a fulfilling career.

5. Degree value grows with experience

Becoming a manager is a potential option in virtually all professions, and a common way to advance one's career and earn a higher salary. With a Bachelor of Business Management, you're always well positioned to do this in terms of qualifications. The degree should never become obsolete and may save you from having to study for an MBA or other postgraduate qualification.

Jobs You Can Get With This Degree

The kinds of executive roles that business management graduates may seek become available with considerable experience. Nevertheless, the degree is suitable for entry-level roles across a range of disciplines. Your prospects can also be improved through specialisation and supplementary courses. Here are jobs where a management degree is highly beneficial.

Business Analyst

Business analysts analyse and interpret large data sets to identify trends. They provide insights for informed decision-making and help improve company performance with data-driven solutions.

Employment for Management and Organisation Analysts in Australia is expected to grow by 15.6% to 123,900 jobs by 2028. The average salary for a Business Analyst is around $115k per year.

To become one, postgraduate qualifications in business analytics or data analytics may be needed. This role demands an understanding of work processes and commercial strategy. Effective communication and project management skills are crucial, beyond just technical abilities.

Human Resources Manager

HR Managers manage recruitment, employee relations, benefits, and conflict resolution. They connect leadership with staff.

Career options include HR Manager, HR Specialist, and Recruitment Manager. The median annual salary is $130k. Over the 5 years to 2028, employment is project to increase by 13.7%, reaching 120,530 jobs.

While an HR major is preferable, a Bachelor of Business focusing on management prepares graduates for entry-level HR roles. Advancing may require relevant postgraduate studies.

Logistics Manager

Logistics Managers coordinate the movement of goods from production to delivery, ensuring efficiency and cost-effectiveness. They manage the supply chain, potentially from procurement to distribution.

Career paths for logistics and supply chain managers can range from logistics coordinator to transport manager to supply chain director. The average annual salary is $115k. The sector is expected to grow, with jobs increasing from 50,100 in 2023 to 54,800 by 2028.

A business degree, ideally with an analytics or administration focus, lays strong career foundations. Experience in supply chains, transport, inventory control, or operational planning is also needed.

Retail Manager

Retail Managers oversee the daily operations of retail stores, including staff management, sales targets, and inventory control. They ensure customer satisfaction and store profitability.

Career paths for Retail Managers include Department Manager, Store Manager, and Regional Manager roles. The median annual salary is $70k. By May 2028, employment for Retail Managers is projected to grow slightly, from 243,700 to 248,300 jobs.

A bachelor's degree with a management emphasis is good preparation for senior retail positions. Sales experience is also necessary.

Final Word

Business Management is a field of study we would normally recommend for experienced professionals looking to advance into senior management roles. The education options in this space are considerable and include postgraduate degrees such as a Master of Business Administration (MBA), Masters in Management, and Masters in Leadership.

A business management major is also a valid option for first-time university students with limited work experience. It provides a well-rounded business education and a qualification of enduring value. The degree may be ideal if you are unsure of your future profession, have a job already lined up, or are confident in starting your career with a general business education.