What can you do with a business degree? Studying business is a more popular choice than ever, and new types of business degrees are launched every year—from marketing research to entrepreneurship and supply chain management.
They tend to attract more enrollment compared to other degrees, with many employers holding business degrees in high consideration.
Editorial Listing ShortCode:
Since business degrees have a broad scope, they can be useful for a surprising number of careers, even outside the traditional business world.
What Can You Do with a Business Degree?
Business degrees are among the most popular undergraduate degrees. In fact, most companies have job positions for which a degree in business would be relevant. Business degrees are considered interdisciplinary because they tackle the major parts of running a business, including:
- Human resources
All of these key skills are transferable to practically any business environment, from technology startups to multinational corporations. Because of this, business graduates often end up pursuing careers in various industries.
Some traditional roles include marketers, project managers, investment analysts, operations coordinators, and accountants. On the other hand, business graduates may apply their management and business skills to other fields, such as media, education, and nonprofits. Entrepreneurship is another possible career path.
Editorial Listing ShortCode:
Jobs in the business sector are likely to stay in demand in the future. For one, the Bureau of Labor Statistics projects 8% job growth for business and finance occupations over the next ten years, which would add around 750,800 new jobs in the field. Management positions—which many business graduates aim for—are especially lucrative, with higher median salaries than average.
Common Types of Business Degrees
There are several different types of business degrees, most of which fall under one of these five categories:
- Accounting. An accounting degree focuses on the financial activities of businesses and how to make a detailed assessment of their cash flow, including expenses, investments, and incomes. You can learn how to create financial reports, make audits, and file taxes for companies.
- Business Management. This business degree is one of the most diverse. Since it provides training in both leading people and implementing projects, you’ll get a hands-on overview of many aspects of running a business. This includes strategic planning, human relations, and marketing.
- Finance. A finance degree can help you develop necessary skill sets for financial planning, corporate finance, or banking. The coursework features more math and economics than other business degrees. Finance majors tend to handle investments and delve into money management for both individuals and companies.
- Human Resources. Human resources is a vital part of every organization. It’s the HR team that handles hiring, employee training and development, and performance appraisal. This degree covers these major areas, and graduates tend to pursue various roles in the field, such as HR generalists, employee engagement specialists, and recruiters.
- Marketing and Advertising. Marketing and advertising are among the most creative business degrees. At its core, marketing is about understanding the needs and desires of customers in order to connect them with products, services, and brands. Since marketing is becoming a technology-heavy field, some classes will likely cover digital marketing campaigns.
When you’re trying to choose a business degree, it can be helpful to first decide which one of these five types of degrees sounds the most appealing to you.
5 Things You Can Do with a Business Degree
It’s possible to pursue a wide variety of careers with a business degree, whether you’re more drawn to the analytical or people-oriented side of business. The following are common careers that attract business majors.
1. Financial Analyst
Financial analysts help clients make investment decisions by gathering information about financial assets, like stocks and bonds, and making in-depth assessments.
Because financial analysts have received advanced economics and mathematics training from a related business degree, they may also conduct valuations of companies and entire industries. This involves factoring in economic trends as well as reading financial statements.
Accountants help organizations manage their finances by maintaining financial records and ensuring compliance with regulations. Aside from documenting financial transactions, accountants can also prepare tax filings and review existing records for accuracy.
Many accountants give advice to their clients on how to reduce expenses or make cash flow more efficient. To become a licensed accountant, it’s necessary to earn an accounting degree, which has classes on corporate finance, business management, and bookkeeping.
3. Business Analyst
Business analysts take a big picture view of how a company is doing, and they suggest data-backed ways to make improvements. For example, they might identify weaknesses in a company’s strategy, optimize team workflows, or remove unnecessary processes.
Editorial Listing ShortCode:
Since business analysts work directly with data, they’re proficient with databases and spreadsheets. On top of this, they may have to create detailed reports about their findings and present these to managers or stakeholders.
4. Sales Representative
Sales is another major career sector for business graduates. Sales representatives spend much of their time talking directly to potential customers, with the goal of increasing sales for a company.
They may reach out to new prospects or talk to existing customers about new products and services. Some sales representatives are eventually promoted to sales managers.
5. Marketing Specialist
Some business graduates become marketing specialists. Marketing specialists aim to promote a brand’s product and services.
They can create content in the form of ads or online posts, track data to see how people are responding to campaigns, and organize events. With experience, some may become marketing managers who lead a team of marketing specialists.
Business Major Careers & Salaries
According to the Bureau of Labor Statistics, here are the median salaries of some common careers for business majors, depending on their specialization.
|Careers||Annual Median Salaries|
|Advertising, Promotions, and Marketing Managers||$141,490|
|Human Resources Managers||$121,220|
|Public Relations and Fundraising Managers||$118,430|
|Accountants and Auditors||$73,560|
|Market Research Analysts||$65,810|
|Public Relations Specialists||$62,810|
|Training and Development Specialists||$62,700|
Management roles generally have higher salaries, but these positions require at least a few years of work experience due to the increased responsibilities.
Is Financial Aid Available?
Yes, financial aid is available for undergraduate business students who qualify. One of the first things you can do is fill out the Free Application for Federal Student Aid (FAFSA).
The FAFSA can determine your eligibility for federal financial aid, which includes loans, grants, and work-study programs. State aid may offer assistance as well. Loans will usually have to be repaid with interest. Grants don’t require repayment, but they are harder to find.
Scholarships are another option. They can be awarded by your prospective school as well as public or private organizations. Some employers even offer tuition assistance to workers who are in school.
What Is a Business Degree?
A business degree is a type of undergraduate degree that studies the key aspects of business, such as organizational behavior, strategic thinking, and market awareness.
Some business degrees, such as entrepreneurship and business administration, have an all-around approach. On the other hand, there are business degrees like finance, accounting, and information systems management that are more specialized.
Editorial Listing ShortCode:
A commonality between different business degrees is that they provide a foundation for taking on key roles in organizations. You may gain experience in leading teams and projects, which is important in today’s workforce.
What Do You Learn in Business School?
A business degree is one of the most practical degree paths because its objective is to train students for either working in a company or starting their own.
Most business classes are very hands-on, with students working in groups, analyzing case studies, or launching their own projects. You may also have the opportunity to work directly with organizations through internships.
The basic coursework for a business major includes classes on accounting, operations, financial management, and business laws and ethics, among others. You can specialize your training by choosing a degree concentration as well as your own electives.
What Is a Business Degree Good For?
You might be wondering, “What can I do with a business degree?” A number of students feel that business administration is a good major as a starting point for a wide variety of careers. Consider the various teams in any company—business development, marketing, human resources, and finance, just to name a few. A business degree is applicable to all of these sectors, depending on your concentration.
Graduates can also end up in specialized fields, such as technology and healthcare. Even if they don’t have specific industry knowledge right away, their exposure to several aspects of management is typically seen as an asset by employers.
What Do Business Majors Do?
Business majors receive broad training about how different types of companies work across all sorts of industries. As you develop your business knowledge and skills, you may become more comfortable with taking on leadership positions, organizing projects, and speaking in public.
You can also narrow your focus with a concentration, such as economics, computer information systems, and eCommerce. Most business majors eventually take on roles at a corporation, become entrepreneurs, or work in management. Alternatively, they may go to graduate school or pursue certifications for further training.
How Much Money Can You Make with a Degree in Business?
A degree in business can lead to many types of jobs, so there’s a wide range of possible salaries. Still, according to the Bureau of Labor Statistics, careers in management generally pay the highest compared to other jobs, with an overall median annual wage of $109,760.
Non-management careers in business and finance still have higher than average salaries, with an overall median of $72,250 (Bureau of Labor Statistics). Your level of experience is a key factor. For example, some senior management roles can pay twice as much as junior or entry-level roles.
What Are the Highest Paying Majors in Business?
Here are ten business majors associated with high-paying careers, according to the Bureau of Labor Statistics.
|Business Majors||Related Careers||Annual Median Salaries|
|Management Information Systems||Computer and Information Systems Managers||$151,150|
|Human Resource Management||Human Resources Managers||$121,220|
|Healthcare Management||Medical and Health Services Managers||$104,280|
|International Business||General and Operations Managers||$103,650|
|Organizational Leadership||Management Analysts||$87,660|
|Supply Chain Management||Logisticians||$76,270|
|Accounting||Accountants and Auditors||$73,560|
Management positions in technology and marketing are among the most lucrative. International business is a good major for students with an interest in working overseas or with multinational companies.
What Business Degree Should I Get?
When you’re trying to choose a business degree, you might want to consider these factors:
- Focus of study. Are you looking for an all-around degree, or do you already have a niche that you want to focus on?
- Career opportunities. What career would you ultimately want, and what kind of lifestyle and salary would you want to have?
- Personality fit. Which major would fit best with your strengths and interests?
It’s also helpful to browse through the coursework of the programs that you’re interested in. Ultimately, the degree program that’s right for you depends on your personal goals and aspirations.
What’s the Difference Between a Bachelor’s in Economics vs. Business Degree?
Economics and business degrees have many classes in common, but they have a different focus overall.
|Bachelor’s in Economics||Business Degree|
Overall, while both degrees are rooted in the business field, a bachelors in economics puts more emphasis on theory and research.
Is a Business Degree Worth It?
Yes, a business degree is worth it for many students. Business degrees are among the most marketable because they teach fundamental business know-how along with in-demand skills like leadership and problem-solving.
Editorial Listing ShortCode:
The Bureau of Labor Statistics predicts that there will be around 750,800 new jobs in business and finance over the next ten years. Many employers are looking to hire business graduates for diverse job roles. Common business positions include accountant, marketing specialist, management analyst, budget analyst, and financial analyst.
Getting Your Bachelor’s Degree in Business Online
Majoring in business can provide you with practical training and help prepare you for working in a company or even starting your own.
With an on-campus or online business administration degree program, you can learn how to coordinate the key parts of a business, collaborate with people from different backgrounds, and implement projects from start to finish. Business is one of the top degrees chosen by students, and attending an accredited college can ensure the validity of your bachelors.
You can explore the various majors and program options offered by accredited universities to discover which business degree is the best fit for you.