Tennessee Career Guide | 2026 49 What Kind of Education is Required? Most careers in business management re- quire at least a bachelor’s degree in busi- ness administration, management, or a related field such as finance, marketing or economics. A Master of Business Admin- istration (MBA) is not required to enter the field in most cases, but it can help for ad- vancement to senior or executive positions. What is the Earning Potential? Salaries within business management vary greatly depending on employee level and business industry, with significant room for growth throughout a career. In the United States, the averages are as follows: n Entry level: $50-90K n Mid level: $100-160K n Senior level: $195-330K n Exceptional cases: Up to $620K How Much are Business Management Careers in Demand? Across all management roles, the Bureau of Labor Statistics (BLS) projected a 7% growth from 2018 to 2028, which is faster than the average for all occupations. Cer- tain management roles are in higher de- mand than others, including financial managers at 16% and supply chain man- agers at 18% from 2022 to 2032. The forecast for long-term growth re- mains promising, especially in high- growth settings such as finance, supply chain, information technology and ana- lytics. Emphasizing strategic, tech-savvy skills — including digital leadership and data fluency — will be important to main- taining a successful career in business management. Why Business Management? A career in business management offers variety, influence and long-term growth potential, making it an attractive path for people who enjoy leading, solving prob- lems and driving results. Pursuing a career in business management can be rewarding for several reasons: n Wide Range of Career Opportunities – Management skills are needed in nearly every industry, from finance and health- care to technology and hospitality, giving you flexibility in where you work. n Strong Earning Potential – Manage- ment roles often offer higher-than-average salaries, with additional opportunities for bonuses, incentives and advancement. n Leadership and Influence – You get to shape strategies, lead teams and directly impact the success of an organization. n Skill Development – Business manage- ment builds transferable skills like prob- lem-solving, decision-making, communi- cation and strategic thinking that can be applied in many careers. n Career Advancement – Many executives, entrepreneurs and industry leaders start with management roles and grow into sen- ior leadership positions. n Job Stability – Organizations consistently need skilled managers to coordinate peo- ple, processes and resources effectively, even as industries evolve. n Potential for Entrepreneurship – Man- agement knowledge provides a strong foundation for starting and running your own business. Links to Learn More: Bureau of Labor Statistics: bls.gov/ooh/management/ Tennessee’s Top Careers The University of Memphis (UofM) is a comprehensive, internationally recog- nized, urban public research university preparing students for success in a global environment. The University is classified as “Carnegie R1” or "Doctoral: Very High Research Activity and Com- munity Engaged" per the Carnegie Clas- sification for Institutions of Higher Learn- ing, placing it among the top research institutions in the United States. With a focus on research and service benefitting communities locally and across the globe, the UofM is home to nationally designated centers of excel- lence in cybersecurity research and ed- ucation, transportation workforce devel- opment, mobile health data and five Tennessee centers of research excel- lence. The UofM is dedicated to its cen- tral mission of working to achieve a suc- cessful outcome for every student. The information on this career is submitted and sponsored by
