Is a Business Management Degree Worth It?

Are you a student, an entry-level employee or a professional seeking career advancement? A university degree in business management could be the key to your success. But determining which course best suits your ambitions can be challenging.  

Business management is a dynamic field with attractive earnings and career progression. This article explores what a business management degree is, its requirements and whether it is a worthy investment.  

What is business management? 

It is the development and supervision of an organisation’s operational procedures. It involves planning, organising and directing resources, improving efficiency and achieving company goals. It oversees different company aspects including finance, human resources, sales and marketing. 

Successful managers require effective leadership, decision-making, strategic thinking and problem-solving skills. It also requires you to adapt to changing company trends and industry needs. These are essential in balancing stakeholder interests and building lasting relationships. Lastly, promoting a positive workplace culture ensures the organisation is profitable and sustainable over the long term. So, it’s also a business management focus.  

Is a Business Management Degree useful? 

It is useful because: 

It improves your employability 

It provides you with foundational knowledge across all company functions. This qualifies you for career opportunities in different industries, including leadership positions. Graduates can establish careers in information security, human resources, finance and sales.  

The degree also develops the soft skills necessary for modern company leaders. These include critical thinking, data analysis, communication and teamwork. Most companies consider these mandatory requirements when hiring for managerial positions. Plus, a holistic understanding of different organisational functions and skills gives you limitless potential. 

It increases your credibility 

A business management degree from a recognised university inspires confidence in prospective employers. Graduates are well-rounded in most aspects of administration and employers consider this valuable.  

Also, you are more likely to get funding as an entrepreneur with a business management degree. This is because investors consider you more knowledgeable and a sound investment. This could be useful if you want to create your own entity. 

It allows you to negotiate a higher salary 

Graduates command higher salaries than those without credentials. Employers pay you more if you specialise in a specific business management skill. And, since they consider you an asset, they will do their best to retain your unique talents.  

It accelerates your career progression 

The degree can shorten your journey to a top position too.  You learn the latest industry skills in class and can use them immediately once you graduate. You also get specialist skills to differentiate yourself in the job market. This can lead you to forge unique career paths within the company and improve your job security overall.  

It helps you grow your network 

A business management degree is an open-ended option that covers several organisational functions. As such, it provides opportunities to interact with various people with similar interests across a broad spectrum of professionals. It enables you to work on several practical projects and engage with industry leaders across all functions. 

Furthermore, most universities offering business management degrees have strong alumni networks. You can use these to find mentors and discuss work opportunities or consult on new ventures.  

Is a business management degree hard? 

A business management degree covers a wide field of study. So, the level of difficulty depends on your programme and university. Most universities offer business management degrees in two categories: 

Generalist business management degrees 

These programmes focus on expertise across all company functions. Examples of generalist business management degrees include: 

- Business Law 

- Management and Leadership 

- Business Administration 

Graduating with a generalist business degree is best for: 

- Acquiring broad knowledge and skills in core management functions 

- Advancement to cross-functional leadership positions 

- Career flexibility 

Specialist business management degrees 

These degrees focus on knowledge in a single leadership aspect. They may also exempt you from further professional qualifications like those with the Association of Chartered Certified Accountants (ACCA) and the Chartered Institute of Marketers (CIM). The benefits of graduating with a specialist business management degree are: 

- You gain knowledge and skills in a single company function 

- You have a clear-cut career path in your field of study 

- The programme qualifies you for departmental leadership positions 

The level of difficulty does not guarantee a quality education. Consider the university’s world ranking, accreditations and certifications to determine if a business management degree with that institution is worth it. 

Other factors that impact difficulty are: 

Entry requirements 

Entry requirements range from CCC to AAB, but most courses do not have specific A-level subject requirements. You also need five GCSEs (grade C and above), including English and Mathematics. Postgraduate students can enrol with relevant experience or a suitable work portfolio. And international students need an English language qualification (IELTS 6.0 and above). 

Tuition costs 

Earning a degree costs money. You should pursue a business management degree that you can afford, and you think will pay for itself in the future. Also, investigate financial aid programmes to see if the university can support you with the fees. Some universities charge a cost per credit hour. So, you can expect lower tuition costs if you are transferring credits. 

Study time 

Undergraduate business management degrees take four years to complete for traditional students and working professionals need to consider credit transfers and course load. Choose a program that maximises your previous education and experience, so you don’t have too much overlap.  

Is business management a good degree in the UK? 

Earning a business management degree in the UK has several benefits, including: 

You are ready for the global market 

Many markets are merging, and organisations are looking for international business graduates. A UK business management degree equips you with global business skills with perspectives pre- and post-Brexit. And if English is not your first language, it will immerse you in that environment to improve your comprehension. 

You gain holistic knowledge 

UK business graduates have good knowledge of theoretical and practical subjects. It teaches leadership techniques across different industries and their real-world applications. Having the best of both worlds gives you a competitive edge in the job market. 

You receive dual honours 

Most UK universities offering business management degrees allow students to earn dual honours. You can combine your degree with another qualification to increase your employability. For example, Bolton University graduates receive a CMI Diploma in Leadership Management.  

You learn essential life skills 

A UK business management degree also equips you with vital life skills. Most universities offer courses to develop your decision-making, communication and time-management skills. And you can apply these to improve many aspects of your personal life.  

What does a business development manager do day-to-day? 

A business development manager or BDM drives an organisation’s growth, with varying mandates depending on the industry. Typical duties of a BDM include: 

- Researching new market opportunities  

- Developing contact networks to attract new clients 

- Collaborating with relevant departments to create sales and marketing strategies 

- Preparing sales forecasts and reporting performance to top management 

- Representing the company at industry events and conducting sales meetings 

- Onboarding and training of the sales team  

What can you do with a business management degree besides being a BDM? 

Other jobs you can pursue with your degree are: 

Actuarial analyst 

An actuarial analyst analyses company data to determine risk. The role requires IT aptitude and knowledge of advanced statistics and modelling. Actuarial analysts work in various financial industry areas, and they specialise in insurance, pensions and employee benefits. 

Management consultant 

Management consultants help organisations improve their performance. They solve issues and create value to maximise growth for other organisations. You'll provide advice and expertise on company strategy and implementation to help your clients thrive. 

Business advisory 

They provide specialist services to individuals and companies. They offer expert advice on funding, organisational change or operational diversification. Most business advisers work with start-ups, helping them move from concept to reality.  

What business degree pays the most in the UK? 

A degree with a finance focus pays the most in the UK. Graduates learn about asset management, financial markets and investments. Entry-level jobs for this degree include finance associate and financial advisor. According to glassdoor.com, the annual base pay for an entry-level finance manager in the UK is £60,093. 

Why study business management at Bolton University? 

We offer a strong foundation in various contemporary company management subjects. A degree from Bolton University develops lifelong learning skills. You will take ownership of your professional development and maximise your success potential through Business Management degrees that offer dual awards in partnership with the Chartered Management Institute. You’ll also learn the latest industry insights and receive first-class practical work experience from our qualified lecturers. 

Conclusion 

A business management degree unlocks higher job responsibilities and unlimited career opportunities. Bolton University offers several degree programmes to meet the needs of modern-day organisations both here and abroad. 

For more on our business management degree programmes, reach us at enquiries@bolton.ac.uk or call +44 1204 903774. We look forward to providing you with a high-quality and supportive learning environment. Join us and enjoy #UniAsItShouldBe!