Is Business Services a Good Career Path? Ultimate Guide
Updated June 19, 2024
- What Are Professional and Business Services?
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- Careers in the Business Services Industry: Job Security and Earnings
- Is Business Services a Good Career Path?
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- The Disadvantages of Business Services as a Career Path
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- How to Start a Career in the Business Services Industry
- The 5 Best Paying Jobs in Business Services
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- Frequently Asked Questions
- Final Thoughts
Business services is a good career path if you're looking for dynamic opportunities in various industries.
This field offers diverse roles that allow you to use your problem-solving, communication and organization skills.
With the potential for growth, competitive salaries and the chance to work with various clients, business services can be a rewarding career choice.
What Are Professional and Business Services?
The field of professional and business services offers a multitude of opportunities for those seeking a dynamic and rewarding career.
From management and consulting to finance and administration, the business services sector is vast and diverse, catering to a wide range of skills and interests.
In this guide, we explore the various roles that fall under this industry and look at its advantages and disadvantages to help you decide whether business services is a good career path for you.
Professional and business services are essential services offered to businesses, government and non-profit organizations to enhance their operations, solve specific problems and achieve their goals more effectively.
These services are often outsourced to experts and firms that excel in specific areas, allowing the client organization to focus on its core operations.
There is a broad range of support functions offered by the business services sector, and various job roles exist within each specialization.
Some of the most popular areas include:
Consulting Services
Offering expert guidance to improve business strategies and operations.
Job roles include:
- Management Consultant
- Strategy Consultant
- Financial Consultant
- Operations Consultant
- IT Consultant
Human Resources (HR) and Recruitment
Managing the workforce, from hiring to benefits.
Job roles include:
- HR Manager
- Recruiter
- HR Consultant
- Compensation and Benefits Specialist
- Employee Relations Specialist
Legal Services
Providing legal advice and representation for businesses.
Job roles include:
- Lawyer (Attorney)
- Paralegal
- Legal Secretary
- Legal Counsel
- Contract Manager
Accounting and Financial Services
Handling financial management and compliance.
Job roles include:
- Certified Public Accountant (CPA)
- Financial Analyst
- Tax Consultant
- Auditor
- Financial Planner
IT Services
Offering technology solutions and support.
Job roles include:
- Software Developer
- Network Engineer
- Cybersecurity Analyst
- IT Project Manager
- IT Support Specialist
Other areas the business services industry covers include project management, marketing and advertising, supply chain and logistics management and administration.
Professionals working in the business services industry have various employment options. They can work within internal departments of organizations, establish their own consulting firms or seek a position with professional business services companies.
Some of these business services companies include names like:
- Deloitte
- Accenture
- Korn Ferry
- Ernst & Young
- PricewaterhouseCoopers (PwC).
Careers in the Business Services Industry: Job Security and Earnings
As the business services industry is so vast, encompassing a wide range of roles and sub-sectors, it offers relatively stable prospects and good job security.
In terms of how many jobs are available in business services, the US Bureau of Labor Statistics (BLS) expects the sector to grow at a quicker rate than average over the coming years, with an estimated 900,000 plus jobs opening up each year.
Certain sub-sectors within professional and business services may experience higher growth rates.
For example, the demand for IT consultants, cybersecurity experts and data analysts is expected to grow due to the increasing reliance on technology.
Earning potential can vary widely based on factors like experience, location, education and the specific role, but as a general overview:
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Entry-level roles – Entry-level salaries can range from approximately $35,000 to $60,000. Administrative assistants and entry-level marketing associates may fall within this range.
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Mid-level roles – Mid-level professionals with several years of experience can earn salaries ranging from $60,000 to $120,000 or more per year. Roles like IT consultants, financial analysts and HR managers typically fit into this category.
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Senior-level roles – Senior executives and highly specialized professionals can command substantial salaries. Chief Financial Officers (CFOs), Chief Information Officers (CIOs), and senior consultants may earn well into six figures, with some reaching seven-figure salaries, particularly in large corporations and consulting firms.
It’s also worth noting that many professionals in the business services industry have the potential to earn performance-based bonuses and incentives in addition to their base salaries.
Is Business Services a Good Career Path?
Business services is a good career path for many reasons, most notably the range of roles on offer and the potential for progression.
Let’s take a look at some of these advantages in more detail.
Numerous Job Options and Opportunities
The business services industry is exceptionally diverse, offering a wide array of roles across various sectors.
Whether you're interested in finance, technology, marketing, law or human resources, there are opportunities to match your skills and interests.
The diversity of roles means you can explore different career paths within the industry or transition to new areas as your interests evolve.
This adaptability can help you stay engaged and satisfied in your career.
Flexible Work Arrangements
Remote work options have become increasingly common in the business services industry, providing a better work-life balance as professionals can work from anywhere with an internet connection.
In some roles, such as consulting or freelancing, you may have more control over your work hours, which can be advantageous for those who prefer non-traditional schedules.
Job Prospects and Earning Potential
The business services industry plays an essential role in supporting businesses across multiple sectors, translating into ongoing job prospects.
Many roles offer competitive salaries, and senior-level positions can provide lucrative compensation packages. Hence, business services are a good career path for those seeking financial stability.
Transferable Skills
Working in this field often involves developing a wide range of transferable skills, such as problem-solving, communication, project management and data analysis.
These skills are highly valuable and can be applied to various industries, allowing for career versatility.
Continuous Learning and Growth
Many roles in business services require professionals to tackle complex challenges, which can be intellectually stimulating and fulfilling.
The industry often emphasizes ongoing learning and skill development, providing opportunities for career advancement and personal growth.
The Disadvantages of Business Services as a Career Path
While a career in business services offers numerous advantages, it's essential to consider some of the potential drawbacks associated with this industry so you can make an informed decision on whether it’s the right path for you.
High Entry Requirements
Many roles within professional and business services require strong academic credentials, such as a degree or relevant certifications.
This can make it challenging for individuals without formal education to enter the industry.
High-Pressure Work Environment
Jobs in business services can be highly demanding and fast-paced, with professionals often facing tight deadlines, complex projects and high expectations.
Handling pressure and stress is essential for success in this field.
Collaborative by Nature
Business services roles often require extensive collaboration with colleagues, clients and stakeholders.
While this fosters creativity and innovation, individuals who prefer solitary work may find this aspect challenging.
Competitive Job Market
Due to the industry's attractiveness, job openings in business services can be highly competitive.
Landing top positions often requires exceptional qualifications and the ability to stand out among a large pool of applicants.
How to Start a Career in the Business Services Industry
Step 1. Research the Industry
Begin by exploring the business services sector to understand the diverse roles and sub-sectors within it.
Research the specific areas that align with your interests, skills and career goals. This can involve reading industry publications, attending webinars and talking to professionals in the field.
Step 2. Obtain a Relevant Degree
Consider pursuing a degree that aligns with your chosen field within business services.
Common educational backgrounds include economics, business administration, finance, law, information technology and marketing.
Depending on your career goals, you may also need industry-specific certifications or advanced degrees like an MBA.
Step 3. Network Within the Industry
Building a professional network can expand your understanding and bring new opportunities.
Join relevant professional organizations, participate in online forums and use social media platforms like LinkedIn to expand your network.
It’s also a good idea to identify experienced professionals who can serve as mentors and provide insights into the industry. Mentorship can help you navigate your career path and make informed decisions.
Step 4. Develop Relevant Skills
Focus on developing key skills that are highly valued in the business services industry, such as problem-solving, analytical thinking, communication, project management and teamwork.
Consider taking additional courses or certifications to enhance your skill set.
Step 5. Tailor Your Resume and Apply for Roles
Craft a well-structured resume that highlights your education, relevant skills and any part-time work experiences related to business services.
Make sure to tailor your resume to match the specific requirements of the roles you're applying for.
Consider starting with entry-level positions or internships during your studies to gain practical experience and build a foundation in the industry, as many firms value hands-on experience when hiring entry-level candidates.
Step 6. Prepare for Interviews
Once you secure interviews, thoroughly prepare by researching the company and practising common interview questions to highlight how your skills and experiences align with the role you're applying for.
Many business services companies use aptitude tests and personality questionnaires as part of their recruitment process, so it’s advisable to prepare for these too by taking plenty of practice tests.
Step 7. Stay Informed and Adaptable
Attend industry events, seminars and conferences to stay updated on industry trends, emerging technologies and market developments within your chosen specialism.
Be adaptable and open to learning new skills, as this will help you remain competitive and advance in your career.
Step 8. Be Persistent and Patient
Landing your first job in business services may take time and persistence.
Keep applying, learning and networking, and be patient in your search for the right opportunity.
The 5 Best Paying Jobs in Business Services
1. Management Consultant
Average salary: $120,178
Management consultants advise organizations on strategies to improve performance, efficiency and profitability.
They analyze business processes, recommend solutions and help implement changes.
2. Chief Financial Officer (CFO)
Average Salary: $431,864
CFOs are senior executives responsible for overseeing an organization's financial activities, including budgeting, financial planning and financial reporting.
3. IT Director/Chief Information Officer (CIO)
Average Salary: $324,176
IT Directors and CIOs are responsible for an organization's technology strategy. They manage IT teams, oversee technology infrastructure and ensure technology aligns with business goals.
4. Legal Counsel/Corporate Attorney
Average salary: $111,047
Legal counsel or corporate attorneys provide legal guidance to organizations, handling contract negotiations and compliance matters and representing the company in legal disputes.
5. Human Resources (HR) Manager
Average Salary: $117,134
HR Managers oversee an organization's human resources department, handling recruitment, employee relations, benefits administration and strategic HR planning.
Frequently Asked Questions
Business services are a broad category of support functions that organizations use to manage and enhance their operations.
These services include financial management, human resources, marketing, information technology, legal and consulting.
A career in business services can be a rewarding path for those who enjoy working in support roles and have a strong interest in helping organizations operate efficiently and effectively.
It offers a diverse range of job opportunities, from finance and HR to marketing and consulting, allowing individuals to find roles that align with their skills and interests.
The best-paying jobs in business services include roles in executive management, such as Chief Executive Officers (CEOs), Chief Financial Officers (CFOs) and Chief Information Officers (CIOs).
Additionally, specialized roles in fields like management consulting, investment banking and corporate law tend to offer high salaries.
Statistics from the BLS suggest upwards of 900,000 jobs will be available in the US business services industry year on year for the next 10 years.
Business services can be broadly categorized into several key areas, such as professional, IT and human resources services.
Within each category, there are numerous specializations. For instance, the types of business services that fall under the professional category include legal, accounting, consulting and financial advisory services.
There are some skills and abilities that are highly sought after across the entire business services industry. These include communication, problem-solving, adaptability, project management, critical thinking and leadership skills.
As more businesses become reliant on new technology to streamline their operations, skills in data analysis and digital literacy are also increasingly essential in the business services field.
Jobs in the business services industry are many, but they are also highly sought after, so if you're keen to pursue this career path, you'll need to prepare yourself to face some competition.
Research the specific field within business services you're interested in, work on building your qualifications and skills, and use networking and job search strategies to improve your chances of securing a job in this sector.
At a high level, many business services positions offer competitive compensation, often exceeding the average wage in most regions.
For example, roles in management, consulting, or specialized fields like finance or IT tend to command higher salaries.
Entry-level positions may start at more modest pay rates but can offer opportunities for advancement and increased earning potential over time.
Final Thoughts
Career opportunities in professional and business services are diverse, and you can find roles in nearly every sector of the economy, including finance, healthcare, technology, manufacturing and more.
Its versatility means business services are a good career path, whatever your passion or expertise may be.
Whether you aspire to be a consultant, manager, or specialist, the business services sector offers a promising career path with room for growth, personal fulfillment and high earning potential.
