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Like many students thinking of pursuing a degree in business, you’ve probably asked yourself many daunting questions. Questions like:

“Do I need to focus on a particular specialty?

“What am I going to do when I graduate?”

“If I know the formula for calculating compound interest is M=P(1+i)n, does that make me a boring dinner companion?”

Fortunately, for those seeking a degree in business management, the first two questions are easy to answer. (For the third question, the answer is “Potentially, depending on your taste in music.”)

The Business Management Degree Explained

A degree in business management is often viewed as an open-ended major, meaning that it builds a strong foundation for a number of careers. So, rather than specialize in a single business function, the business management degree enables you to fulfill a variety of managerial roles across the entire business spectrum. As such, business management courses often focus on a wide set of core business functions including accounting and finance, operations, marketing, and, of course, business management.

In addition to delivering practical knowledge, business courses also enable students to hone the important skills required of today’s business leaders. These include building teamwork, creative problem solving, critical thinking, data analysis, effective communication and computer aptitude.

Building such a comprehensive understanding across the realm of business functions and aptitudes gives graduates with a business management degree a near limitless pool of careers and companies within their reach.

Career Prospects with a Business Management Degree

Graduating with a degree in business management offers very positive job prospects, partly owing to the fact that graduates can easily fulfill managerial roles in a number of business functions across a range of industries. Furthermore, the foreseen retirement of the baby boomer generation – which now occupies many managerial positions – indicates an increasing number of management-level openings may soon need to be filled.

The Bureau of Labor Statistics provides statistics that show jobs in business range from around $40,000 to over $150,000, depending on level, job function and industry.  Managers in marketing, engineering, IT and other top level executives show salaries of over $100,000*.

How to Know if a Business Degree is Right For You

So, is a degree in business management right for you? Well, that could depend on your interests and career aspirations. Someone who is passionate about a particular business area may be better suited to pursue a more specialized degree. However, for those students looking to gain a general business education and develop transferrable managerial skills, a business management degree can provide a broad base of opportunity – and career advancement – across numerous industries.  University of the Potomac provides business management concentrations in several areas to accommodate a student’s desired focus.  For more information, visit Potomac’s business degree page.

*Disclaimer: Potomac makes no guarantee of actual salaries or the accuracy of salary statistics on external websites. Please see the Bureau of Labor Statistics site for more details on cited salary statistics.

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