Business Careers
Business careers include all those professions involved in the day-to-day operations vital to any company, such as accountants, tax preparers, data analysts, or external auditors, but also careers specific to certain industries, like hotel managers, investment fund managers, or funeral directors.
If you want a business career, we invite you to read further and find out more about what to expect.
This section will include several different types of workers:
- Professions that specialize in helping with day-to-day business operations, such as logisticians and market research analysts
- Financial specialists that do tasks such as balancing business accounts and helping decision-makers
- Management positions that oversee business activities, such as finances, human resources, marketing, and more.
AccountantAccountants prepare financial statements such as income statements, balance sheets, and cash flow reports.
ActuaryActuaries are problem solvers and strategic thinkers, who use their mathematical skills to help measure the probability and risk of future events.
Administrative AssistantAdministrative assistants organize files, draft messages, schedule appointments, and help out other staff.
Bank UnderwriterBank underwriters use computer software to carefully calculate financial risks and potential losses.
Benefits SpecialistBenefits specialist is an HR professional who is responsible for managing employee compensation.
Business AnalystBusiness analyst is a person who analyzes and documents the market environment, processes, or systems of businesses.
Business Intelligence ManagerBusiness Intelligence Manager solve challenging business problems by presenting actionable insight and strategic recommendations for client success.
Car SalesmanCar salesman selling vehicles only after thoroughly understanding and exhibiting capabilities, features and characteristics.
Charity DirectorCharity directors plan ways to develop a charity's services, generate income and raise.
Corporate RecruiterCorporate Recruiters help companies fill vacancies with the best possible candidates.
CPACertified Public Accountants (CPAs) are licensed professionals who provide accounting, auditing and tax services to individual clients or companies.
Credit AnalystCredit Analyst reviews credit data to evaluate consumer loan requests in order to approve or deny application.
Data AnalystData analysts are responsible for collecting, analyzing, and interpreting data from multiple sources.
Desktop PublisherDesktop Publishers format typescript and graphic elements using computer software to produce publication-ready material.
EconomistEconomist planner will consolidate comprehensive plans, monitor and evaluate their implementation.
EntrepreneurEntrepreneur, you can create products, services, establish companies, and even set up industries.
Escrow OfficerEscrow Officer communicate with lenders, buyers, sellers and borrowers in order to prepare documentation for finalization.
Event PlannerAn event coordinator is responsible for all the little details, making sure that the plan will work properly.
External AuditorExternal Auditor, evaluating financial statements and assessing accounts for accuracy and compliance.
Financial AnalystFinancial analysts gather information, assemble spreadsheets, write reports, and review all non-legal pertinent information about prospective deals.
Financial ControllerFinancial Controller acting as a key business partner in tracking performance and driving profitability.
Financial PlannerFinancial planner helps you set financial goals concerning retirement, your children's education and more.
Foreign Exchange TraderForeign-exchange traders are responsible for conducting financial trading in foreign currencies across the globe on behalf of their company.
Forensic AccountantForensic accountants use their expertise in finance to investigate fraud and other financial misrepresentation.
Human Resources GeneralistHR generalist typically works under the direction of a human resource manager to ensure all the needs of human resource department are met.
Human Resources ManagerHuman resource managers recruit, hire, train and retain workers to advance corporate goals and support employee development.
Insurance Claim AdjusterInsurance claim adjusters investigate insurance claims and determine the amount of loss or damages covered by insurance policies.
Insurance UnderwriterInsurance underwriters decide whether to provide insurance, and under what terms.
Internal AuditorInternal auditors examine a company's books for inefficient practices and help come up with solutions that make the company more effective.
Investment BankerInvestment bankers work on the complex financial transactions and operations that their clients hire them for.
Investment Fund ManagerInvestment fund manager is permitted to direct the business, operations or affairs of an investment fund.
Language TranslatorLanguage translators aid communication by converting messages or text from one language into another language.
Life CoachLife coaches are skilled at drawing out a person's own wisdom to help maximize work or personal potentials.
Loan OfficerThe loan officer will sometimes work with individual applicants or companies, depending on the position.
Logistics AnalystLogistics Analysts are also known as logistics specialist coordinate and analyze the logistical functions or supply chain of an organization or a company.
Market Research AnalystMarket research analysts help them get a better picture of their customers through data.
Marketing ManagerMarketing Managers plan, execute and measure an array of strategies with the objective of supporting business growth.
Mortgage BrokerMortgage broker is a person or company that can arrange a mortgage between you and a mortgage lender.
Motivational SpeakerA Motivational Speaker offers inspirational and informative speeches to a large audience. Working for a variety of fields.
Operations ManagerOperations manager needs to be an expert in the specific business processes that he or she is expected to perform.
Property ManagerProperty managers handle most of the daily business operation of apartments, rental houses and condos.
Public Relations ManagerPublic relations managers help clarify their organization's point of view to its main audience through media releases and interviews.
PublicistPublicist is a person responsible for managing the promotion and increased publicity of a brand, product, or person.
Purchasing AgentPurchasing Agent initiates purchase orders based on business requirements and inventory levels.
Real Estate AgentReal estate agent is a person who represents sellers or buyers of real estate or real property.
Real Estate AppraiserReal Estate Appraisers appraise real property to determine its value for purchase, sales, investment, mortgage, or loan purposes.
RealtorRealtors provide details of property for listing or buying, such as, location, features, size and price.
ReceptionistReceptionist is a person employed to greet telephone callers, visitors, patients, or clients.
Resort ManagerResort manager manage, train and supervise staff, schedule staff hours, and uphold standards of customer service.
Restaurant InspectorRestaurant inspectors ensure that food vendors follow food preparation and sanitation codes mandated by the government.
Restaurant ManagerRestaurant managers are usually responsible for finding and hiring new employees, and welcoming them aboard.
Retail Category ManagerRetail category managers handle the placement, pricing, and promotion of a product category in retail stores.
Risk ManagerRisk manager's job is to evaluate input from all available sources and then quantify risks for senior decision-makers in the company.
Sales EngineerSales engineers specialize in facilitating the sales process for technologically and scientifically advanced products.
SEM ManagerSEM specialists are responsible for designing, building, and managing paid search advertising campaigns for their client organizations.
StatisticianStatisticians have a broad range of options for career choices, as their talents can be applied in many industrial sectors.
Stock BrokerStockbrokers are licensed agents who represent individuals or organizations in financial transactions that deal with stocks.
Stock TraderStock Traders work in the financial services industry and are responsible for supporting financial organizations and liaising with stock brokers.
Supply Chain ManagerSupply chain managers are responsible for integrating and optimising all the processes and steps to produce a product.
Tax PreparerTax preparer takes their client's financial information and completes their taxes, files their taxes, and provides tax advice.
Travel AgentTravel Agents assist customers with multi-faceted leisure travel plans and advise them of travel needs.
Wedding PlannerWedding planner should be the liaison between all the vendors and the bride/groom on the day of the wedding.
Work Environment
Business careers are quite versatile and job descriptions, as well as daily tasks, vary depending on the position and the type of business.
Some occupations, such as human resources managers or salespersons, involve working directly with people while others, such as accountants or data analysts involve working with numbers.
Some business positions require management skills, while others require attention to detail.
Job descriptions vary widely in the business world, depending on the profession.
Bookkeepers are usually responsible for recording all transactions and separate costs from income.
Accountants and auditors prepare and analyze financial records and provide solutions on how to avoid certain business risks.
Marketing managers analyze the market and estimate the demand for products and services.
Human resources specialists are the ones who recruit new workers by interviewing job applicants.
They may also be responsible for calculating compensation and benefits, organizing training sessions, and handling employee relations.
Career Path
Educational requirements vary depending on the profession and job responsibilities.
Most occupations in the business world require at least a bachelor’s degree, but some employers may accept only a high school diploma for some positions if the applicant has good skills or experience in the field.
For some occupations, it helps if the applicant has a major in accounting, finance, or business administration.
Other positions may require a specific major, so it is best to check the employment requirements before deciding what path to choose.
For management positions, a bachelor’s degree in management or a related field is usually required – a degree which can be obtained in four years.
Two-year associate’s degree programs are also available at some colleges.
If you want to become an accountant or auditor, you will need at least a bachelor’s degree in accounting or a related field.
Earning a certification in specific fields of accounting, such as becoming a Certified Public Accountant, may give you an advantage over your competitors in the job market.
Bookkeepers and accounting clerks typically need some type of post-secondary education and coursework in accounting, but some employers may accept candidates who have only a high school diploma.
You can improve your employment and earning prospects by earning a master’s degree in business, management, or a related field.
Master’s degree programs are usually two years long.
Professional certifications that qualify you for management positions in certain industries. are also available.
For example, the American Hotel & Lodging Educational Institute is offering a Hospitality and Tourism Management Program that leads to a professional certificate.
In addition to formal education, most business occupations also require a special set of skills, especially for management positions:
Business skills- knowing how to address budget matters and how to coordinate workers is especially important for managers.
Leadership skills are very helpful for those in management positions.
Customer-service skills are essential if you’re targeting a profession in sales, such as a salesperson, event planner, or another occupation that involves working directly with clients.
Organizational skills- being able to keep track of your tasks, different schedules, budgets, and people is very important in any business occupation.
Problem-solving skills- the ability to solve problems fast is a key asset for business careers.
Experience Requirements
Work experience is helpful for any business occupation, but entry-level positions are also open to less experienced candidates.
You can begin preparing for a business career in high school by getting involved in student government or during college through an internship.
For some positions, especially in management, you will need at least five years of experience in a related field.
On the Job Training
Some employees provide on-the-job training to their newly-employed workers.
During this period, trainees work under the supervision of more experienced workers.
For some positions, the training lasts less than a year, while other occupations require several years spent as a trainee.
Some occupations also require a license specific to the field of expertise.
For example, those who sell financial products usually need to be licensed to sell the type of products they commercialize.
Typically, sales workers are sponsored by their employers who help them prepare for the necessary exams.
Salary
According to the Bureau of Labor Statistics, the median salary in business and financial operations was $72,250 per year as of May 2020.
This wage is higher than the median annual salary across all occupations in the United States, which was $41,950.
As with most fields, business careers don’t pay very well when you first start, but wages increase as you gain experience.
Salaries vary widely depending on the employee’s level of experience, expertise, and position within the company.
One of the highest median annual wages in the business world was reported by personal financial advisors- who were remunerated $89,330 per year.
The median annual wage for management analysts was $87,660 as of May 2020.
Another business profession that is well remunerated is the financial examiner occupation with a median annual salary calculated at $83,660.
Lower salaries were reported by tax examiners, collectors, and revenue agents who were remunerated with $55,640 per year on average.
According to the numbers published by the Bureau of Labor Statistics, the median annual wage reported by marketing managers was $142,170 as of May 2020, while bookkeepers made $42,410 per year as of May 2020.
The median wage tells us that half of all workers in this profession earned less than this amount while half earned more.
Experienced managers who work for large profitable companies can make more than $200,000 per year, while those who have less experience or work for small establishments make less than $75,000.
Entry-level bookkeepers usually make less than $30,000, while experienced workers can make more than $60,000.
Salaries for management positions also vary depending on the industry.
For example, funeral home managers earned $74,200 per year, on average in May 2020, while the median annual wage reported by lodging managers was $56,610.
The median annual wage reported by accountants and auditors was $73,560 as of May 2020, but wages can vary between less than $45,000 and more than $130,000 depending on experience, education, and a variety of other factors.
Some business occupations, especially those that handle sales, are paid on commission or a combination of salary plus commissions.
For these workers, the salary is directly correlated to the number of products they sell.
Those who have good skills receive high earnings, but there is also a risk associated with this type of compensation package because when sales drop the worker’s pay suffers and there is even a risk of losing the job.
Employment Prospects
According to the Bureau of Labor Statistics, employment in business and financial occupations is projected to grow 8 percent by 2030.
This estimation translates into $750,800 new jobs.
As the economy grows and the tax and regulatory environment becomes more complex, the demand for accountants and auditors will be strong.
The demand for marketing positions is also projected to grow, and more companies use market research to understand customer behavior and design marketing strategies.
Before choosing a career, it is also important to take into account your job prospects.
Some business professions are projected to show significant growth while others will decline.
Employment for lodging managers is projected to grow 9 percent from 2020 to 2030, with many new jobs occurring when the COVID pandemic and the recession caused by this will come to an end.
New job openings will also occur for marketing managers, a profession that is expected to grow 10 percent by 2030.
Those who are experts in social media and marketing campaign management will have the best prospects.
Jobs for bookkeepers, accountants, and auditing clerks, on the other hand, are projected to decline 3 percent from 2020 to 2030, but new job openings will appear from the need to replace workers who retire or switch occupations.
As the routine tasks become more and more automated, bookkeeping roles will change within the company, and bookkeepers who have analytical skills and can take on an advisory role have better chances of finding employment.
Frequently Asked Questions
Are business occupations well remunerated?
Many business workers earn more than the national mean salary, but earnings vary widely depending on the position, the industry, the region, and the level of experience.
For example, bookkeepers earned $42,410 per year, on average, while computer and information system managers made $151,150.
There are also positions, especially those in sales, who are remunerated on a commission basis.
For these workers, their earnings fluctuate depending on the number of products or services sold.
What type of training do I need for a job in business?
Most business positions require at least a bachelor’s degree in a field related to the worker’s job description.
However, there are also positions, such as real estate brokers or insurance sales agents, that can be filled in by candidates with just a high school diploma and, in some cases, a special license.
What job prospects do business workers have?
Some business occupations are expected to grow in the future, while the demand for other careers will be tempered by the development of new technologies that will allow for the same number of workers to perform multiple tasks.
For example, bookkeeping jobs will decline by 3 percent by 2030, while employment for marketing managers will grow 10 percent.
What type of skills does a business worker need?
The answer to this question depends on the exact position the worker has in the company and their job description.
For example, for management positions leadership skills, communication and decision-making are very important.
If you work in sales, on the other hand, you will also need good customer service skills, persuasion, and knowledge about the products sold.
Organizational skills are important for any business position.