Top Career Choices for Business Majors

Graduates with a focus in business have a plethora of choices available to them, across diverse career platforms, with great expectations for future prospective outlooks.

Even professionals who are considering switching to another occupation can find enlightenment with the projections for the future of business career choices. Although some career fields, like manufacturing, are expected to see a decline in growth over the next decade, there are plenty of other fields that are projected to grow substantially through the year 2018, according to statistics reported by the U.S. Bureau of Labor Statistics.

In a tough job market, even unemployed professionals with business degrees may find it difficult to find a career in the workforce that is similar to their past careers. The idea is to keep an open mind and be willing to cross over to a new occupation that may not necessarily be the type of job that you expected to score years ago. With this in mind, here are five careers that are expected to not only see growth, but also pose great salary potential for business grads and professionals:

Investment Banker - Investment bankers earned a median salary of $70,000 according to the U.S. Bureau of Labor Statistics in May of 2008, and this figure does not include any bonuses or benefits that were acquired. Many people think of Wall Street when the title, "investment banker" is spoken about, however these professionals can be found across the country, with Fairfield, Connecticut, New York, New York and San Francisco, California landing on the top of the list for the highest paying cities, as noted by the BLS. Bonuses may not be as healthy as 2005 and 2006 investment bankers were paid, but these professionals can expect a handsome salary, benefit package and bonuses.
Financial Analyst - Bloomberg Businessweek aligned financial analyst as the #10 career on their Top 10 Careers for 2011 list, with a median salary of $85,240. These professionals analyze the financials of individuals and businesses and provide advice on financial and investment decisions based on their findings. A 20% increase in job opportunities is projected by the U.S. Bureau of Labor Statistics, which is a much faster than average climb. However, the BLS also forecasts that there will be tough competition in this industry, due to the fact that these jobs are highly sought after.
Consultant - Many people dream of working from home or being their own boss. As a consultant, this dream can be realized, but beware! Many work-at-home consultants are "all work and no play". However, if scoring clients and working with people is a forte, a potential median salary of $65,000 can be achieved, according to the BLS. Self-employed consultants are going to experience a fluctuating salary, while a more regular salary can be earned while working for a consulting firm. According to the U.S. Bureau of Labor Statistics, professionals in the management sector of consultants can look forward to a whopping 83% growth in occupations by the year 2018.
Regional Sales Manager/ Sales Director - Payscale.com listed these two professions on their 2011-2012 PayScale College Salary Report. Regional sales managers happen to be the second highest paid professionals on their list, with an average salary slated near $100,000, just under the sales directors, who were paid a median salary of $133,000. The difference in pay is due to the fact that directors quite often oversee the entire department for the company, while regional sales managers oversee a group of sales representatives who cater to a specific region or area. Overall employment for these occupations can expect a 13% increase in job prospects through the year 2018, although keen competition is projected. In addition to annual salary, some companies also pay their sales managers and directors a bonus that is determined by the amount of sales that their team accrues.
Business Development Manager - These professionals are expected to boost the health of the company that they work for by analyzing business strategies and developing new techniques and relations. According to Payscale.com, the median salary of business development managers is $87,800 for bachelor degree holders and that are full-time employees. Of course, individuals who have earned their master's or doctorate may expect a higher salary offer, depending on the amount of years that they have worked in the field.

With the array of different careers that are available to business degree holders, a vast array of median salaries can be expected. The type of business, the specific city of the company and the expertise and education level of a professional all bear weight on the amount of salary, the benefit package and the amount of bonus that can be achieved in each position.