International study programs: Business management
Business management is a popular international study program, offering graduates a long-term return on investment. If you’re considering which course of study to pursue as an international student, here’s what you should know about the benefits and challenges of earning an undergraduate business degree.
About business management programs
Business management students learn how to plan, manage, and direct processes within a business or organization effectively. The curriculum is generally a blend of theoretical and practical study. You’ll explore subjects in business administration, finance, marketing, management, information systems, accounting and ethics.
Through this coursework, you’ll sharpen your analytical understanding in a variety of business scenarios and deepen your critical thinking and problem-solving skills. You’ll also strengthen your communication technique and cultivate leadership abilities so you thrive in a team-oriented workplace.
These personal and professional traits taught through a business management program helps you become an asset to an organization’s or business’s success.
According to research by Statista, business management was in the top three fields of study during the 2022-23 academic year. Programs are competitive, but they can be an entryway into a variety of industries after graduation.
Completing a major that offers a diverse curriculum and employment versatility can help justify the cost of studying in the U.S.
Demand for business degrees in management
Business is the most sought after field of study among students, both at the bachelor’s and master’s program levels.
The National Center for Education Statistics found that business degrees, including business management, were the highest-ranking field of study for bachelor’s degrees granted in 2021. In total, 391,400 business degrees were conferred to undergraduate students in the U.S., accounting for 19% of all degrees granted that year.
A bachelor’s degree in business was also among the top two areas of study for nonresident U.S. students who earned their degree, according to NCES data.
Business management return on investment (ROI)
The return on your higher education investment highly depends on your area of study, school and the post-graduation career and industry you ultimately land in. A 2022 report by Georgetown University’s Center on Education and the Workforce evaluated the median earnings of students with a bachelor’s degree in business administration, management and operations. This data factored in students’ earnings and their debt payments.
It found that two years after earning their degrees, business management students made a median net earning of US$44,400.
Education data calculated the ROI for business degrees over time. It found that 10 years after obtaining a bachelor’s degree in business, business students saw a -28.3% ROI. Every decade thereafter had exponential ROI growth as professionals advance in seniority within their careers:
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- 20 years: 68% ROI
- 30 years: 197% ROI
- 40 years: 371% ROI
Future growth in an industry also matters when choosing a lucrative field of study for long-term ROI. Georgetown University’s Center on Education and the Workforce found that business services is among the top industries expected to grow between 2021 to 2031. This is the second-highest ranked industry in its study with a projected increase of 25.5 million new jobs in the field. This greater demand can lead to competitive wages later as you gain experience in the workplace.
5 jobs you can get with a business management degree
A business management degree provides international students with a multifaceted curriculum and essential professional skills. Thanks to this academic preparation, graduating in business management enhances your adaptability in the job market.
Below are just a few popular career options that this degree can unlock.
1. Project management specialist
Project managers oversee the details of various projects within an organization. They lead a team through task planning, keeping the unit on schedule and communicating updates and guidance with the organization at large. They act as the quarterback for the organization, supervising projects from their inception through completion.
U.S. Bureau of Labor Statistics (BLS) data reports that the median annual wage for project management specialists was US$95,370. It has a positive job outlook and is expected to grow 6% between 2022 to 2032.
2. Management analyst
A management analyst observes an organization’s processes and provides suggestions on how to optimize them. They interact with personnel at all levels to get a thorough understanding of current practices and procedures. A part of their work is also required to evaluate data reports to see what areas of the organization are, or are not, functioning effectively.
These roles might operate in-house, though some management analysts function as an independent consultant. The median annual wage for this occupation is US$95,290, according to the BLS, with a projected job growth of 10% through 2032.
3. Market research analyst
A market research analyst examines an organization and its customer needs to help the company reach its sales conversion and retention goals. They research the climate of the industry and competitor performance to determine market trends and forecasts.
With this data, market research analysts develop and present reports to the organization or its stakeholders. They also collaborate cross-departmentally with engineers, sales teams and more, delivering data-based information that informs other areas of the business.
Market research analysts earn a median annual wage of US$68,230. The BLS job outlook forecast projects high demand in this profession as it’s expected to grow 13% percent from 2022 to 2032.
4. Director of operations
A director of operations is responsible for an array of functions within an organization. This includes managing a key business division of the company and focusing on ways to support the organization’s growth and profits.
Operations directors do so through budgets, service or product optimizations, hiring and training mid-level leadership, and analyzing performance reports. As a top-level executive, they formulate policies and procedures and aid in business strategy.
According to the BLS, the median wage of top executives in this role earn US$100,090 per year. The projected job growth of this profession is 3% between 2022 to 2032.
5. Financial manager
If you enjoy digging deep into numbers, a career as a financial manager might be for you. In addition to your business management degree, professionals must typically work in a related business or financial role for at least five years.
As a financial manager, you’ll lead an organization’s finances and provide recommendations to keep them aligned with the business’s long-term objectives. The day-to-day responsibilities include reviewing financial reports, business activities, budgets and other financial aspects of the business. You’ll identify cost-cutting opportunities and create reports on how the company can maximize its profits.
Financial managers earn a median annual wage of US$139,790. The occupation is expected to grow much faster than average at 16% through 2032.
Getting a business management degree
As the leading area of study in the U.S., a degree in business management offers strong long-term ROI. However, that ROI might not come immediately after graduating from school.
Although it can present lucrative career and earnings opportunities later, studying business management in the U.S. can be expensive. If you need additional funding to pay for school, consider an international student loan through MPOWER Financing.
