Top 5 Business Management Careers That Are in High Demand
No matter how good a CEO or business founder might be, they simply can’t run a business by themselves. Good, trustworthy managers are a key to successfully growing your business, from the smallest mom and pop shop to the biggest corporate juggernaut. And for some industries, those good managers are hotly in demand. A career in business management can be quite lucrative as a result, provided that you’re well educated and have a good track record. Let’s take a look at some of the management positions that can expect to see a surge in the coming years, using the latest data collected by the Bureau of Labor Statistics (BLS).
- Computer and Information Systems Manager
Computer and Information Systems Managers, or more commonly IT managers, are in charge of everything computer and network related for a business. While their primary education should usually be in an area like computer and information systems (CIS) or information technology (IT), earning a master’s in business administration or management can often be quite useful, as it helps an individual stand out from other IT staff. IT managers are responsible for leading groups of computer and network staff, and make decisions regarding upgrades and updates to software and hardware. Like other managers, they are typically responsible for hiring decisions and may even negotiate with outside companies, such as software vendors.
The projected growth for CIS managers over the ten-year period from 2018-2028 is at 11%, substantially greater than the national average for all occupations, which sits at 5%. The ever-increasing importance of ecommerce and the glaring need for greater security in regards to the private information of consumers and company data alike is a major driving force behind this growth.
- Social and Community Services Managers
For those who are perhaps more interested in working with non-profits, social and community services managers offer many of the same responsibilities as business managers in the corporate world. They talk to users of the services they offer to find out what is wanted and needed, in much the same way a business might talk to its customers. Social and community services managers handle the day-to-day affairs of the organization they lead, and must be efficient with the resources they handle so as to help the most people. They’re also responsible for raising funds through both funding grants from government organizations and courting donors. If you’re growing tired of the corporate world, but still want to put your skills to use, a position as a social or community services manager is a good option to consider.
The BLS’s projected growth for social and community services managers is 13% over the next decade, although this is somewhat offset by the fact that this is a much smaller profession overall. The source of growth in this profession is largely related to an increased need for addiction recovery, as well as the growing elderly population.
- Management Analysts
Management analysts and consultants are independent workers who come into companies to observe their performance and make recommendations as to how to improve. To accomplish this, analysts could conduct interviews with employees to learn their needs, look over accounting and financial records for signs of waste, or recommend major shifts in organizational structure or day-to-day procedures. Management analysts need a good mind for problem solving, and generally work on contract, either as an independent consultant or as part of a consulting firm. A bachelor’s in business or management is often enough to get started in this field, but master’s degrees may help to provide clients with further confidence and lend credibility to those operating alone. Additionally, work experience in other areas can synergize with this education, helping to develop a specialty are for your consulting work.
Management analysts had a projected growth of 14% from 2018-2028, according to the BLS. The demand is particularly strong for IT consultants and healthcare consultants, with demand for the former driven by that same need for increased security of internal data, while healthcare needs originate from the large aging population.
- Financial Managers
When you think of a business meeting, the financial manager would typically be the person at the front of the conference room, pointing at charts and graphs. While financial managers do work in a variety of different roles, overall they monitor the financial well-being of a company or other such organization. Using data that’s been tracked and monitored by computer systems, financial managers will provide analysis and look for ways to maximize profits and minimize expenditures. They might develop specialties in areas like insurance or risk assessment. Starting in this career with a bachelor’s is certainly possible, but master’s degrees such as an MBA are increasingly common.
The overall projected growth over the next decade is at an astonishing 16%, although the exact industry the business is in will have an impact in individual cases. The need for more financial managers is often tied to growth of the whole economy, but can also be driven by globalization, as companies may need managers handling operations for each country. A major emphasis on risk management has also emerged, however, as an attempt to prevent another crisis such as we had in 2008.
- Medical and Health Services Managers
Medical and health services managers, or just healthcare administrators, are among the fastest growing professions in the nation, projected at 18% over the ten-year period from 2018 to 2028. As you might expect, this is also due to the aging population, and the need for care that many of the elderly have. Healthcare administrators still put a lot of business knowledge to work, however, by aiming to improve efficiency, creating schedules and budgets, and working with different departments which each have their own concerns. One of the big issues healthcare administrators deal with is ensuring that their hospital or clinic is kept up-to-date, meeting the modern regulations that healthcare facilities are subject to. Education in medicine isn’t required, but can be beneficial; degrees in business administration, particularly MBAs, often work well, and MBA programs with a healthcare focus are fairly common.
A career in management can have a lot more to offer than you might think, since an education in business management is applicable to a huge number of industries and fields active across the country. Knowledge of business management and an education in another field can be a potent combination, allowing you to take your existing experience and put it to work in a way that earns you the most possible. These hot professions are just a small taste of what’s available, so don’t hesitate to find the one that’s the perfect fit for you.