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What is the salary for Business Management and Administration?

I was just wondering because I want this job when I’m older

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Sameer’s Answer

I agree with rest of group here. Find your passion and work, money will follow.
Just for example, let's say a janitor in high school earns 70k plus benefits. Another janitor who is a little more passionate, works in similar school district for 10 years, decides to become a 1099 worker and opens his own business. He hires another 5 people (passionate like him) and starts janitorial work for clients such as schools, banks and hospitals. After expenses he can make 250k to 1mil dollars depending on clients, marketing and firms work ethic.

You see why asking salary and basing your plans on that can be misleading and confusing. You can look at Glassdoor, Indeed,recent job listings in a similar field to get a sense of your salary. What you will not know is where do you lie on that salary range.

Starting salaries can be a guesstimate, but depending on your effort and passion you will surpass that average salary in no time. Find something you love, are passionate about and you will never feel like your working. You might start at a lower salary but no one will be able to keep you down there for long.

On other hand I know some friends who became Doctors mainly for salary. Although they make decent money you can see that the passion and excitement of waking up and going to work is missing. Some end switching careers later in life altogether.

I am glad you are thinking this so early in your career. I wish someone told me this when I was your age. Good luck and find your passion. Money will follow.
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Judy’s Answer

Hello Frankie,
I believe that Tramaine's answer is a really great one.

I am in the process of retiring from the Consulting Firm I have owned and operated for 35 years. Because I have worked with hundreds of employers over the years to help them figure out what to pay their employees, I've been able to learn what it takes to be prepared to do thousands of jobs in the course of my career.

One piece of advice I would offer initially is to figure out your passion. Find out what you love to do, what you love to be around, and find our what it takes to learn how to do top level work in the industry related to that passion of yours. You will need to be prepared to do several jobs and do them well before you become a Manager of a business. If you know what you love, it will be easier to find out what jobs will get you into that industry, how to prepare for them and the rest is up to you.

For instance, if you love the rockets and really want to be involved in sending rockets into space, you will likely want to check out what it takes to become an Aerospace Engineer or a Computer Engineer. If your passion is reading books, you may want to run a library some day. That will require a Master's Degree in Library Science and perhaps a degree in Business Administration as well. My advice is to learn what you love.

I actually "fell into" my job. I didn't know it was my passion, but I studied Business Administration in college to learn about business and I began work in the Human Resources element of business. That led me to opportunities to learn about what it takes to figure out what to pay the people who work in various jobs. I was fortunate enough to have mentors who taught me compensation which is very hard to learn in college, at least not well enough to work in the field. I had previously worked as a Human Resources Generalist, got an opportunity for promotion to HR Manager. Later I took a role in a consulting firm as a job analyst, which actually felt kind of like a step down. When I finished training in the company for several months, I went out to a client company on my first project and I was hooked! I had my passion! I went on to get a certification and experience and after a few years was promoted to Department Manager. I later had an opportunity to move to a different state and start my own Compensation Consulting Firm, and over the years I've learned about thousands of jobs in hundreds of client companies.

Business Management is a very general goal. I suggest you consider what you really love, find companies that are in that industry, and then go to sites like:
https://www.onetonline.org
where you will find job descriptions and all of the requirements for jobs in that field.
I think Tramaine’s answer was a great one too, with the suggested you can find the descriptions of various jobs and what they generally pay:
https://www.salary.com

Finally, I want to wish you good luck and say I am delighted you are beginning to look toward your future early. I hope you will be guided by what you love. That just may lead you to study what you love and find your life's work in an area that is very meaningful to you. If you do, you will do your best every day because you love the work. You may be promoted to management, but you may also find out that doing the work you love is even better than managing other people doing the work you love....or just maybe, you can do both!

Judy recommends the following next steps:

Find your passion and you will find out what to study so that you can be prepared to go for a job that you will love doing.
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Tramaine’s Answer

Hi Frankie!

Great question. Honestly, that really depends on the field that you go into, the organization, and the region. It can range significantly depending on the company and level that you come into the field. You can check out these two sites below to do some research:

https://www.levels.fyi
https://www.salary.com/

I work in this field in the tech industry in Atlanta. However, someone on the west coast, in the same field, for the same company, would make more because cost of living is higher. It just all depends. I hope this helps and that you find the right fit for you! It's out there!
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Megan’s Answer

I also agree with the other answers here, but a useful resource no one has mentioned yet is onetonline.com. It's a website run by the government that has information about basically every job on the planet--what the position does, what skills they utilize, their salary range, etc. I recommend checking that out.
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Marissa’s Answer

There are some great answers here! It really depends on what you want to do, as business management/administration is a broad field. As someone mentioned above, find what you're passionate about and the money will follow. Pay can also vary on a number of things: industry, location, etc. so there are a lot of factors when it comes to what an ideal salary is. The websites mentioned are great starting points but understand that they are a ballpark.
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Daniel’s Answer

It definitely depends, but i would say the starting salary is usually around 50-60k a year. However, after that there are hundreds of thousands of different career paths that the first job can take you down, and from there the potential earnings are limitless. I think its more important to perform well at the first job on the entry level salary, and then hope to get an even better job after in order to maximize your salary potential in that industry. Definitely a safe, higher paying potential industry.
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