Amazon recently announced it would raise the minimum wage for its employees and temps to $15 per hour or $31K per year for a 40-hour workweek. Indeed reports that Walmart pays less than $11 per hour to its cashiers, customer service representatives, stockers and warehouse workers. For a full-time employee, this amounts to $23K per year.
One job outside of retail that does not require a college degree for the entry level is bank teller. The U.S. Bureau of Labor Statistics indicates the average median pay for tellers in 2018 is $29,450 per year. Another possibility is general office clerk with a 2018 median pay of $32,730. When you consider rent, transportation, utilities, groceries and other bills, these salaries will not go far.
For example, MIT Living Wage Calculator shows the typical living expenses for one adult from Jefferson Parish in Louisiana are just under $24,000 per year. Add another adult to the household and the number jumps to $39,562.
A low salary potential is common for many jobs that do not require a college degree. They also do not offer much room for advancement. And where there is advancement to team leader or manager, raises remain slim.
The Possibilities With a Bachelor of Science in Business Administration Degree
The good news is that the salary can double with a college degree like a Bachelor of Science in Business Administration. April 2019 data from PayScale indicates the average salary for college graduates with a degree in business is $63K per year. While actual pay depends on a number of factors including the specific job, geographical location and company, the PayScale average is a strong indicator of the earning potential of a bachelor's degree.
Unlike specialized degrees, a BSBA gives a person many career options. These range from marketing and accounting to operations and human resources.
Under Business and Financial Occupations, the U.S. Bureau of Labor Statistics lists a number of careers. Every single one requires a bachelor's degree for entry-level jobs. The median pay ranges from $49K for meeting and event planners all the way up to $89K for personal financial advisors. The information on this page shows that most of the higher-paying jobs are in analytics or finance.
Another option is to pursue a Bachelor of Business Administration. However, there is a difference between a BBA and a BSBA — the latter puts greater emphasis on math and analysis.
With the advent of big data, organizations struggle to turn the overwhelming amount of data into something that tells a story. The math and analysis portion of the BSBA will help graduates better approach business from a quantitative perspective.
What Students Learn in the Online BSBA Program from LSUA
If you would like to explore the analytical or finance side of business, a BSBA from an online program, like the one offered by Louisiana State University of Alexandria, will help you transition to these careers.
Students enrolled in the online BSBA from LSUA will learn how to:
- Identify and analyze ethical problems to find practical solutions.
- Gauge the financial position of organizations using balance sheets, cash flow statements and corporate budgets.
- Create statistical processes and interpret information for decision-making.
- Evaluate the effects of domestic and global variables on an organization's decisions.
- Understand how the production and distribution of goods and services affect economic, financial, and marketing theory and practice.
Students in this program gain the skills to use scientific and financial knowledge in evaluating and improving business practices.
Here are some questions to consider for an online bachelor's degree in business. These will help you find the right online business program for you.
Learn more about Louisiana State University of Alexandria's online BSBA program.
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