The Best Business Schools in Canada for You

7 Career Areas Often Taught at Top Business Schools in Canada

Few sectors have as many possible career paths as this one. The variety of business programs available to students is now greater than ever. Companies within all types of industries need qualified professionals with market-ready abilities.

And the opportunities aren't just limited to corporate environments. Many other kinds of organizations also require people with business skills. For example, employment options frequently exist with not-for-profit agencies, government departments, and community associations. Plus, you might have an entrepreneurial spirit and decide to launch your own enterprise.

The bottom line is that the possibilities are almost limitless. In 2021, nearly 1.3 million business establishments operated in Canada. And there will be a continual need for qualified professionals to fill the roles that keep these businesses functioning and moving forward.

So, what are the best areas of business to pursue? Check out these enticing options:

1. Management

The business world has plenty of room for people who want to use their leadership abilities. Planning, coordinating, and overseeing part or all of an organization's operations is a big job, but it's also very satisfying for those who enjoy being in charge and making things happen.

Plus, being a manager often pays well. For instance, the median hourly pay in Canada for a general business manager is about $43.24. And some managers make over $93.45 an hour. Of course, you may not necessarily begin your career at the managerial level. But with the right education, motivation, and a little business experience, it's possible to advance to this level in a relatively short amount of time.

And remember this: You can specialize in an area of management that ignites your enthusiasm. Examples such as hospitality management, project management, and entertainment business management are all areas where you can find specialized programs.

2. Administrative Support

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Professionals in this area are primarily involved in doing essential work that keeps an organization's day-to-day operations running effectively. They often help establish workplace policies and procedures. And they are frequently tasked with handling important details or supporting and helping to execute the plans of executives and managers.

It's common for people in this area to begin their careers as administrative assistants before advancing to higher positions like office manager or administrative supervisor. Along the way, many Canadians who perform this type of work earn good salaries. For example, the median hourly pay for administrative officers is about $26.44. For executive assistants, it is approximately $30.00. But the highest earners in both types of positions make over $40.00 per hour.

Interesting ways to specialize also exist. Training programs are often available in a particular area of interest, such as oil and gas administration, human resources, and office administration.

3. Accounting and Financial Administration

All successful organizations understand that achieving a healthy bottom line while complying with industry or government regulations requires qualified financial professionals. The work is often critical, from analyzing finances to processing taxes and payroll to collecting or receiving payments. Without good accounting services, a growing business can quickly stall or even fail. As a result, the pay in this field is frequently quite attractive. Take a look at these median hourly wages in Canada, as well as what the top earners make:

• Accounting technicians and bookkeepers—$24.04 or up to $38.69 or more
• Pay and benefits administrators—$26.71 or up to $38.00 or more
• Accountants and financial auditors—$35.75 or up to $60.00 or more

4. Event Planning

This is easily one of the most fascinating and high-energy areas of business. Event planners help put together special shows, celebrations, conferences, and other fun or important happenings. It's a field that allows you to channel your creativity and penchant for organization into an activity that's often well rewarded. The median hourly income for a full-time event planner in Canada is about $23.00, with some event pros earning more than $38.08 an hour.

5. Marketing and Business Development

It's hard to beat marketing when it comes to fun and popular vocational paths. You get to help determine what potential clients or customers want or need and then develop creative ways to promote, distribute, or sell it. From brainstorming and strategizing to production and execution, marketers' daily work can be very energizing.

What you can earn is equally compelling. For instance, the median hourly wage for Canadian marketing and advertising managers is almost $43.27, with some making over $67.31 per hour.

Plus, like in other business areas, you have the option of specializing in the specific occupation or industry you like best. So, for example, if you're really into fashion, you might consider training in fashion merchandising. Other examples include areas like sales, public relations, and Internet marketing.

6. Travel and Tourism

Many business travellers call Canada home. But this sector goes way beyond that particular niche. Tourism professionals understand that the potential market for travel services encompasses nearly everyone in the country and much of the rest of the world. So, helping individuals or groups have memorable experiences in new locations is a big industry with good-paying vocations. The median wage of full-time travel agents and counsellors in Canada is about $20.00 per hour. And some of them earn over $28.85.

But the same can be said about helping tourist attraction operators or even whole communities or governments strategize ways to promote their offerings effectively to potential travellers. Canadians who specialize in tourism development or consultation can earn a median hourly wage of about $34.62 or up to $59.50 or more.

7. Fashion Merchandising

Different styles come and go, but one thing remains constant: The people who manage what gets sold in stores or online have very engaging jobs. Bringing new clothing and accessories to the retail market requires doing interesting research and forecasting emerging trends. And that's just a small part of what makes the fashion sector so compelling to many business-minded individuals.

In Canada, retail buyers and merchandisers make a median hourly wage of $23.54 with the potential to make up to $36.54 or more.

How To Choose a Business Path That Suits You

One of the best clues comes from your core personality. Take some time to honestly assess what motivates you. And ask others who know you well to give you a list of your strengths. Then see how those things line up with these business personality types:

• Leader—A person who likes being out front and in charge. If that's you, then management is one possibility you might want to explore.
• Organizer—Someone who is driven to make plans, bring people together, and create a sense of order. Example careers include being an event coordinator, music promoter, travel consultant, or office assistant.
• Visionary—The person with grand ideas who sees opportunities in places others don't and is willing to take risks. Entrepreneurs are the best example. But many marketing and fashion professionals fit this type as well.
• Supporter—A professional who enjoys being part of the execution of an idea or playing a direct role in the day-to-day operations of an organization. Accountants and administrators are two good examples.

Of course, another tried-and-true method for discovering your niche is to go through a business administration program. Many schools offer the chance to explore essential areas like accounting, human resources, and marketing as part of your course of study. Then you can often choose to specialize in the area you like best.

What the World of Business Can Offer You

Limitless possibility. A vast expanse of opportunities. Your education can give you knowledge that applies to several industries. And once you have a little experience, you can take the skills you've developed and contribute to the growth and prosperity of different sectors that interest you. You'll learn a lot about yourself, meet fascinating people, and increase your wealth potential.