1. University of Georgia
Athens, GA • Private
There are various types of Business Partners and finding a good one can be a difficult but worthy task. No matter whether their speciality lies in Business, IT, HR or somewhere else, each Partner is involved, either deeply or within certain limits and in certain ways, in choosing the direction that the company is moving in the future. In practice, this position also requires meeting with new people, working on programs within and outside of the company and may be more about managing and working with other higher-up employees.
There are no specific academic requirements to become a Business Partner but different companies look for different things. While some value experience over education, it is a smart career move nonetheless to earn a Bachelor's or a higher degree in business, finance, or a related subject.
There are certain skills that many business partners have in order to accomplish their responsibilities. By taking a look through resumes, we were able to narrow down the most common skills for a person in this position. We discovered that a lot of resumes listed analytical skills, creativity and interpersonal skills.
If you're interested in becoming a business partner, one of the first things to consider is how much education you need. We've determined that 65.1% of business partners have a bachelor's degree. In terms of higher education levels, we found that 16.8% of business partners have master's degrees. Even though most business partners have a college degree, it's possible to become one with only a high school degree or GED.
As you move along in your career, you may start taking on more responsibilities or notice that you've taken on a leadership role. Using our career map, a business partner can determine their career goals through the career progression. For example, they could start out with a role such as owner, progress to a title such as sales vice president and then eventually end up with the title executive vice president of sales.
What Am I Worth?
The role of a business partner includes a wide range of responsibilities. These responsibilities can vary based on an individual's specific job, company, or industry.Here are some general business partner responsibilities:
There are several types of business partner, including:
The role of a partner varies from organization to organization. What a business partnership entails is defined by the industry the companies are active in, their size, and revenue strategies. A partner has various responsibilities from generating sales to discovering further partnership opportunities and cultivating the existing ones.
There is no one path that leads to becoming a partner manager. It goes without saying that this is not an entry-level position, unless perhaps you are born into a business dynasty. In which case, you would not be browsing job search engines anyway.
So for the rest of us, there is a lot of groundwork and networking that goes into acquiring this position. Needless to say, if you do make it there, it is a lucrative career, with a yearly income averaging anywhere from $68,000 to $133,000.
Congrats! You opened your own business. Now what? Now, you get to sit back, relax and let everyone else do the hard work, right? Wrong. During the beginning stages of a new business it is so important that the boss is around for the day-to-day operations.
Typically, business owners put in well-above the regular 40-hour week. In fact, you might even have to put in 60 hours a week. At least until your business is extremely successful and can continue to survive without you around all the time. It's hard work as a business owner, but at least you get to be the boss.
Speaking of being the boss, don't forget to hire some people so you don't have to boss yourself around. Once your business starts to take off, you'll want to hire employees to help out. You'll find out quickly that you, indeed, cannot be everywhere all at once.
HR business partners serve as a bridge between upper management, the human resources department, and employees. Your role is highly dynamic. You are to develop and initiate HR programs. It's a necessity that you develop and act on HR regulations that support business objectives. Also, it is expected that you consult with executives and managers to outline the human resources goals of the organization. In addition, one of your duties is to prepare contracts and training materials. Addressing employees' concerns and advising HR personnel happen to be another of your responsibilities.
HR business partners, in general, must have at least a bachelor's degree in business administration or human resources. An MBA gives you an edge as well. Skills you must possess are team coordination, strategy development and execution, communication, and presentation. The average annual salary for HR business partners is $65,806.
Mouse over a state to see the number of active business partner jobs in each state. The darker areas on the map show where business partners earn the highest salaries across all 50 states.
|Rank||State||Number of Jobs||Average Salary|
Athens, GA • Private
Madison, WI • Private
Minneapolis, MN • Private
West Lafayette, IN • Private
Washington, DC • Private
Columbus, OH • Private
Austin, TX • Private
Los Angeles, CA • Private
Philadelphia, PA • Private
Vestal, NY • Private
The skills section on your resume can be almost as important as the experience section, so you want it to be an accurate portrayal of what you can do. Luckily, we've found all of the skills you'll need so even if you don't have these skills yet, you know what you need to work on. Out of all the resumes we looked through, 8.3% of business partners listed analytics on their resume, but soft skills such as analytical skills and creativity are important as well.
Zippia allows you to choose from different easy-to-use Business Partner templates, and provides you with expert advice. Using the templates, you can rest assured that the structure and format of your Business Partner resume is top notch. Choose a template with the colors, fonts & text sizes that are appropriate for your industry.
After extensive research and analysis, Zippia's data science team found that:
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Some places are better than others when it comes to starting a career as a business partner. The best states for people in this position are Washington, New York, New Jersey, and California. Business partners make the most in Washington with an average salary of $125,035. Whereas in New York and New Jersey, they would average $118,238 and $118,078, respectively. While business partners would only make an average of $115,473 in California, you would still make more there than in the rest of the country. We determined these as the best states based on job availability and pay. By finding the median salary, cost of living, and using the Bureau of Labor Statistics' Location Quotient, we narrowed down our list of states to these four.
1. New York
3. New Jersey
|Rank||Company||Average Salary||Hourly Rate||Job Openings|
|8||Bank of America||$101,690||$48.89||47|
Business partners are typically paid either through profit sharing or guaranteed payments. In a partnership, two or more individuals will share the profits and pay income taxes on those profits.
The four types of partnership are general partnership, limited partnership, limited liability partnership, and limited liability limited partnership. These four types of partnership all have different strategic pros and cons and specific ways that they operate.