According to the Bureau of Labor Statistics, business occupations are expected to grow at eight percent, which is fast as average for more jobs. Business degrees are the most popular major in colleges and universities across the country because they provide useful skills and knowledge that translate into many sectors. Some business degrees are general, such as marketing and management, while others are highly specialized, such as operational sustainability and organizational leadership. Keep reading to learn the 10 highest paying jobs for business grads.
1. Account Executives
Account executives handle all affairs for specific clients and companies. They develop industry contacts that they manage through the full sales cycle. They may develop and maintain strong relationships with key vendor, manufacturer and distribution partners. This means they must attend training events, prepare quotes for customer and revise bids according to market changes. They may be responsible for outbound calling to prospective clients and communicating value propositions to key influencers. Account executives must effectively manage their time and workload to achieve sales goals and team metrics.
2. Bank Examiner
Bank examiners review the operations of chartered financial institutions like banks to ensure compliance with laws and regulations. They investigate banks for unsafe investment and unsound banking practices. They audit and assess the adequacy of internal controls. They are responsible for determining the performance of banks by rating basic competencies such as capital, assets, earnings, liquidity, management and market sensitivity. Bank examiners will need basic knowledge of bank operations, financial examination procedures and forensic IT techniques. They have the ability to quickly establish effective working relationships with auditors, bank employees and management personnel.
3. Business Development Manager
Business development managers implement in-depth reviews on key business issues, strategies and objectives. Based on the information they gather, they re-establish or recommend new business imperatives for the organization. These comprehensive reviews may include market trends, business intelligence, competitor action analysis, application technology, process management and quality control procedures. Business development managers may individually undertake activities to discover new business lines, enhance product portfolios, communicate business information and review historical decision making. These business professionals sometimes lead cross-functional teams for project evaluation, development and execution.
4. Cost Engineer
Cost engineers provide management with analyses of budget expenditures and produce cost control reports. They may monitor project budgets for capital investment programs, review sub-contractor invoices for accuracy and conduct cost-to-complete analysis for all financial elements. This latter task will require them to take into consideration staffing plans, contract commitments, historical expenditures, schedule changes and project trends. Cost engineers may attend project meetings to provide executives with current financial findings regarding potential impacts on budgets and cost forecasts.
Cost engineers provide progress emails and briefing materials through developing creative reporting tools.
5. Financial Analyst
Financial analysts are responsible for implementing the company’s financial plans, generating timely reports and providing technical support to chief financial officers. They may direct accountants in the development of enterprise-level operation targets. They oversee the preparation of various weekly, monthly and quarterly reports and related financial model updates. Financial analysts may analyze marketing initiatives, determine brand ROI and rate the effectiveness of internal controls. They may analyze multiple project’s financial performance by comparing budgets, accomplishments and key problems. This means that they may quantify labor, operational and productivity changes.
6. Hotel General Manager
Hotel general managers will most likely function as the primary business leader for assigned properties. They may oversee all operational aspects, including front-desk management, property maintenance, employee performance, sales outcomes, marketing strategies, profitability projections and revenue generation. Hotel general managers usually have many human resources and talent management duties, which includes hiring, training, scheduling, employee issues, performance evaluations and communicating company policy. Their financial management duties include property budgets, direct bill receivables, financial account reconciliations and guest balances collections. Their procurement duties include inventory management and monthly inventory checks.
7. IT Business Analyst
IT business analysts are responsible for partnering with multiple departments and the IT development team to identify technology needs and provide optimal systems solutions. These IT business analyst may lead cross-functional improvement teams who analyze and update core business processes and procedures. Thus, they must know how to utilize best business practices, analysis techniques and quality control methodologies. They may act as liaisons between end users and development teams by focusing on improving existing processes. IT business analysts must be good at identifying and implementing process or system improvement initiatives.
8. Payroll Director
Payroll directors are usually senior-level leaders who are accountable for developing and leading strategic priorities and financial plans. They are expected to drive operational efficiency, improve client relationships, understand employee experiences and improve financial performance. This role covers a wide spectrum of payroll duties. For example, they may centralize global payroll services, develop sustainable approaches managed services or work with subcontractors to streamline payroll processes. Payroll directors may work in conjunction with operational teams who develop more efficient payroll models.
9. Senior Accountant
Senior accountants are generally responsible for monthly financial close processes. This may include account reconciliations, journal entry preparation, accounting analytics, management reporting, balance sheet reconciliations and internal control reviews. For example, they may reconcile departmental subsystems to the general ledger and initiate corrective actions when necessary. Senior accountants may work with other department leaders to ensure financial integrity and ongoing process improvement. They participate in various aspects of monthly close process including timely journal entry and preparation. Senior accountants may work with external auditors to facilitate annual audits and process evaluations.
10. Sales Manager
Sales managers are usually responsible for increasing revenue, volume or distribution and across multiple accounts. They may partner with vendors and distributors to ensure orders are placed, products are received, customers are satisfied and that operations are expanding. Depending on the organization, they may conduct staff training, meeting presentations and event promotions. Sales managers may be responsible for managing wholesaler and manufacturer account groups. They implement sales performance goals and targets based on current priorities.
Related Resource: 10 Highest-Paying Jobs for Information Technology Grads
The above mentioned 10 highest paying jobs for business grads will provide stable employment, attractive salaries and satisfying careers. In order to enhance positive career outcomes, graduate-level education is recommended for specialty, technical or management positions.