It is very easy to get confused between different business-related terms and the same stands true for the different business degrees that you can pursue at college or university level. Here, the two degrees that are being discussed are business administration vs business management. While it may be difficult for the layperson to differentiate between the two terms, it is important that you delve deeper into the course structure and outlines of each of these before deciding on which degree is more in line with your aspirations for the future.
In order to be able to differentiate between the two degree programs, it is important to get an understanding of what each course entails. This isn’t a case of business administration vs business management degrees, as both of them share the core curriculum. The main differences between both the courses will make each of these more or less suitable for different students, depending on whether they want a more specific system or something that is more general in nature.
Business Administration
A business administration degree is usually offered in the form of a Bachelor of Business Administration (BBA). The focus of this degree is more on the planning and organizational aspects of business, as opposed to business management courses that lay emphasis on a person’s managerial role. As a student pursuing a degree in business administration, you will have the option to choose an area of specialization, for example, entrepreneurship, marketing, accounting, international business, finance and so on. This concentration or specialization has the power of influencing the direction of your career at a later stage, once you graduate college.
Average Time It Takes to Complete
A bachelor’s degree in business administration will take as much time to complete as any other bachelor’s degree – about four years. The core subjects of this degree are going to be very similar to the core subjects of a degree in business management. For example, both these degrees include modules in marketing, finance and accounting, as all of these subjects make the basis of any business degree.
Requirements to Enroll
There are no special requirements for enrollment when it comes to a business administration degree. If you are applying for an undergraduate degree in business administration, you will not be required to take the GRE. Instead, you will be required to have a good GPA, submit academic transcripts, letters of recommendations, essays, personal statements and any other documentation specified by the university or college that you are applying to.
Average Cost
The cost of the degree will depend on the institution that you choose to attend. For example, a four-year bachelor’s degree at a public institution may cost you approximately $10,000 for each year, while the cost increases to over $25,000 per year for schools out of state. You can expect a higher tuition if you choose a private institution, with an average cost of about $35,000. There are not too many funding options for students pursuing a bachelor’s degree.
Average Salaries
There is no exact figure that can be cited as the average salary for a business administration degree. If you are pursuing a bachelor’s degree in business administration, you can expect an average salary of about $60,000 per year. However, with a Master in Business Administration, your salary can see a major hike, crossing an average of $100,000 each year.
Business Management
Similar to business administration in terms of core subjects, business management is a field that focuses more on the managerial aspect of a business. The ultimate goal of these programs is not to churn out students that specialize in a particular field but to prepare them with all the skills required for managing different people and projects. This is a good option for people who don’t have a specific area of interest as of now and want a more general outlook towards business.
Average Time It Takes to Complete
The average time taken to complete a course in business management depends on the type of course that you choose to pursue. For example, if you are looking at an associate degree in business management, you will only have to spend two years completing it. For a full bachelor’s degree, however, a four-year course is required. A master’s degree in the field can take another two years.
Requirements to Enroll
The requirements for enrollment into a business management program as quite basic, but they may differ on the basis of the university that you are applying to. Under most circumstances, you will be required to showcase a good GPA, great scores on supplementary exams, essays, personal statements and letters of recommendation. The application process may be through a common application or an individual one tailored to the university and the course.
Average Cost
The cost of pursuing a degree in business management is very similar to the cost of pursuing a similar degree in business administration. The tuition fee and cost of living will differentiate on the basis of the university you choose to study at. For example, if you are studying at a private university, you will be expected to pay much more than you would pay at a public institution in the state.
Average Salaries
The average salary for a person with a Bachelor of Science degree in business management is similar to the average salary for a person with a bachelor’s degree in business administration. According to PayScale, a BS in Business Management can get you approximately $65,000 each year. With a master’s degree, however, you will be able to see a further spike in the salary that you can command.
Wrap-Up
While business administration and business management are frequently used interchangeably, there are a number of differentiating factors between both the business administration vs management degrees. In order to understand which one is better for you – in line with your aptitude and aspirations – it is important to look at the course curriculum and setup of each. Only once you have familiarized yourself with the different areas of concentration covered by each of the degrees, will you be able to make a more informed decision about your future.