Applied Management Bachelor’s Degree Online
Is an Applied Management Degree Right for Me?
Pursuing an applied management degree can give you the skills you need to land a leadership position in a company or organization. By providing courses that focus on leadership and the function of a business, a degree in applied management will give you an understanding of how businesses can best increase their profitability and efficiency through various resources. According to the U.S. Bureau of Labor Statistics, the demand for management analysts/consultants is expected to increase by 24% in upcoming years.
Advice for Earning Your Applied Management Degree online
An online degree in applied management can provide you with a theoretical basis regarding management techniques and methods. Whether you earn a traditional or online degree, your courses will prepare you to reach your management goals. As a manager, you will be dealing with many different types of tasks, so you must be well-versed in managing both financial capital and human capital. Therefore, you will learn about human resource management, communications strategies, and even handling compensation for employees.
In a traditional degree program, you sometimes have to gain work experience while pursuing the degree. While obtaining an online degree, you usually will not be required to do so. However, it may be a good idea to apply your knowledge through internships in an actual work setting to hone your communication skills. Most importantly, make sure the college or university that you attend is accredited, as employers prefer candidates that graduated from an accredited institution.
Required Courses
A degree in applied management requires you to take a diverse range of courses. To manage a group of people, you must understand the variety of tasks performed in your department or organization. Although you may not be responsible for certain tasks on a daily basis, you will need to evaluate others and their performance as manager. Most online applied management programs require you to take financial accounting, marketing, business law, management theory and practices, college-level writing, speech, business communication, statistics, economics, and an introductory course on databases. If you plan to pursue a graduate degree in applied management, you will have to take more specialized courses relating to your industry in which you work. Some MBA programs prefer to enroll students that have work experience prior to applying.
Common Career Paths
After completing your bachelor's degree in applied management, you can choose to work in many different industries. The ladder of success is pretty steep, and you can advance at your own pace. Some common positions for individuals that have a degree in applied management include (but are not limited to):
- Business Analyst
A business analyst position is a common entry-level job for applied management majors. You can usually start as a business analyst and advance to higher positions over time. Most companies have a structured advancement program based on amount of time spent in the company and goals met. You can serve as a business analyst for a variety of businesses or organizations. Even nongovernmental and non-profit organizations need business analysts to help run their finances and processes. Usually employers want employees to hold at least a bachelor's degree in business, management, or economics.
In this job, you usually work on four different tiers or processes of an organization: strategic planning, operating analysis, process definition and design, and IT/technical analysis. Strategic planning requires you to evaluate an organization's needs. You can then analyze business policies and market operations to better understand how to allocate company resources. According to PayScale.com, entry-level business analysts working for private firms usually make anywhere from $39,395 to $56,185.
- Management Consultant
Management consultants usually start as management analysts before advancing to a consultancy position. This is a lucrative career path, as you will often be advising large client companies on how to increase their efficiency and profit margins. You will probably spend half of your time at a consulting firm and the other half of your time working at the client's office. Therefore, you may have to travel often. As business practices become more global, companies are looking for consultants' advice in managing their processes domestically and internationally.
This job can be rather demanding, so you should know how to handle stressful situations. You should be able to work efficiently when client concerns and demands are high. This field requires immaculate presentation and communication skills, as you need to present your information and analysis to your clients. According to U.S. News, management consulting is a popular field for Ivy League graduates and high-achieving individuals. PayScale.com lists the range of entry-level management consultant salaries as $55,415 to $91,957.
- Investment Banker
Investment bankers usually provide advice to clients about financial organizations and pertinent issues affecting their investments. You may need to manage bonds, develop strategies for mergers, and make decisions regarding selling company stocks to the public. You will need to do a lot of research about the market and issues affecting companies' investments. You should also have a strong financial background. It is important to have excellent communication and presentation skills in this career, as well, as a large part of the job involves advising company heads and executives to take certain actions.
Entry-level applied business majors usually start as investment banking associates. They then proceed to other higher-level positions after gaining adequate experience and skills. Competition among entry-level associations can be fierce, so it is good to get some experience prior to applying. Not all associates advance at a rapid pace. According to PayScale.com, associate investment bankers make anywhere from $51,144 to $98,085.
