How Much Can You Earn with a Degree in Business Management Information Systems?
Are you considering pursuing a degree in Business Management Information Systems (BMIS)? Perhaps you are already enrolled in a program and wondering about the potential return on your investment. Whatever your situation, one of the most common questions prospective BMIS degree holders ask is, “how much can I earn with this degree?” In this article, we’ll take a closer look at the earning potential of BMIS degree holders and what factors can influence salary outcomes.
The Basics: What Is Business Management Information Systems?
Before exploring job prospects and earnings, let’s first establish what we mean by Business Management Information Systems. In essence, BMIS is a specialization within the larger field of Management Information Systems (MIS). It involves the use of technology, data, and information to help organizations make better decisions and achieve their goals. BMIS graduates typically have skills in areas such as project management, database design, data analysis, and software development.
Salary Prospects for BMIS Graduates
So, what kind of salary can you expect with a BMIS degree? The answer, as with any profession, depends on several factors. According to the Bureau of Labor Statistics (BLS), the median salary for Computer and Information Systems Managers (which includes BMIS) was $146,360 in May 2020. However, this figure represents the midpoint, with some managers earning less than $87,480, and others earning over $208,000.
In general, factors that can influence salary include geographic location, industry, years of experience, and job title. For example, BMIS graduates working in large metropolitan areas tend to earn higher salaries due to the higher cost of living. Similarly, those working in industries such as financial services or healthcare typically earn more than those in the nonprofit sector.
Job Outlook for BMIS Graduates
In addition to salary prospects, another important consideration for prospective BMIS students is the job outlook. According to the BLS, employment of Computer and Information Systems Managers is projected to grow 10 percent from 2019 to 2029, faster than the average for all occupations. This growth is due to the increasing use of information technology in organizations of all sizes.
Furthermore, there is a growing demand for professionals with both technical and business skills. As businesses continue to rely on technology to improve operations, the need for managers who can bridge the gap between technical and non-technical teams is likely to increase.
Examples of BMIS Career Paths
To better understand the earning and job prospects for BMIS graduates, let’s take a closer look at a few examples of career paths within the field:
Information Systems Manager
An Information Systems Manager is responsible for overseeing an organization’s technology infrastructure, ensuring that it is secure, reliable, and effective. They may lead teams of IT professionals, or work closely with other managers to ensure that technology is aligned with business goals. According to the BLS, the median salary for Information Systems Managers was $151,150 in May 2020.
Database Administrator
A Database Administrator is responsible for the performance, security, and maintenance of a company’s databases. They may work with data analysts, software developers, and other stakeholders to ensure that databases are optimized for the needs of the business. The median salary for Database Administrators was $98,860 in May 2020, according to the BLS.
IT Project Manager
An IT Project Manager is responsible for leading teams of IT professionals to complete specific projects. They may develop project plans, allocate resources, and ensure that projects are completed on time and on budget. According to Glassdoor, the average salary for IT Project Managers in the US is $95,000 per year.
Conclusion
A degree in Business Management Information Systems can lead to a variety of rewarding and well-paying careers. From Information Systems Managers to Database Administrators and IT Project Managers, BMIS graduates are in demand across industries. While salary prospects and job outlook can vary based on several factors, a BMIS degree can be a smart investment for those interested in the intersection of technology and business.
