Business degrees teach you numerous skills necessary for success in the corporate world. Even though courses may vary from school to school, most business degrees cover the basics of accounting, marketing, finance, and entrepreneurship.
However, if a student decides to pursue a degree in business, they can specialize in a field related to their professional ambitions.
Benefits of Getting a Business Degree
Whether you study on campus or online, a degree in business can be pretty helpful, as the knowledge can be applied in nearly every industry and sector.
With that said, here are a few reasons why getting a degree in business is worthwhile.
1. High-Paying, In-Demand Jobs
Business degree holders can work in some of the most in-demand fields. From healthcare management to international business relations, many entry-level jobs only require a bachelor’s degree. Students enrolled in undergraduate programs get a foundational understanding of the field as a whole and in-depth expertise in a specialized area (such as accounting or auditing) relevant to their chosen profession.
However, a master’s is required for senior leadership positions. Earning a graduate degree helps you move up the career ladder and increases your earning potential. For example, according to BLS, a project management specialist with a bachelor’s degree may earn up to $90,000 a year.
But advanced degrees, like an MBA, can lead to an even bigger paycheck within the same position. If you are interested in pursuing an online degree, search for programs that offer subjects you want to take. Look up online MBA, and you’ll find the relevant programs with details.
2. Helps Understand Business Fundamentals
The multifaceted nature of business is mirrored in the breadth of topics covered in the university curriculum, as is the importance of knowing how to start and build a successful business. If you want to start your own business, work in corporate America, or manage a small company, it helps to have a firm grasp of business fundamentals. Thus, a business degree can help you stand out to potential employers by providing the training you need to succeed in your intended career path.
3. Professional Networking Opportunities
During your program, you’ll get hands-on training in communication skills. In all likelihood, your coursemates will also work in the business world, so you’ll have plenty of opportunities to learn from one another, share ideas, and even run a business together.
6 Notable Career Options For Business Majors
Here are six top jobs you can choose from if you have a degree in business.
1. A Training and Development Specialist
Median Annual Pay: $61,570
Projected Growth: 8%
Entry-Level Education: Bachelor’s degree in organizational development or human resources
Job Summary: A training and development specialist is responsible for designing, implementing, and leading training and development initiatives for the organization’s workforce. They conduct focus groups, surveys, and interviews to assess the company’s customers and align training programs with its operational goals. Additionally, they set and implement a training budget and provide spending reports.
2. A Market Research Analyst
Median Annual Pay: $63,920
Projected Growth: 19%
Entry-Level Education: Bachelor’s degree in market research or related
Job Summary: A typical workday for a market research analyst looks like this:
- Assess the company’s market position and its competition
- Analyze consumer preferences and current product marketing mix to identify untapped markets
- Track and predict industry sales and marketing trends
- Prepare data collection resources such as polls and surveys
- Use statistical software such as SPSS, Stata, MATLAB, etc., to visualize and interpret data
- Prepare data-driven reports on ways to increase sales and market penetration of existing products
3. A Logistician or Logistics Manager
Median Annual Pay: $77,030
Projected Growth: 28%
Entry-Level Education: Associate or Bachelor’s degree in supply chain management or business with a concentration related to logistics
Job Summary: A logistician is responsible for planning and overseeing a product’s entire lifecycle, from acquisition and storage to transportation and distribution. They coordinate with potential suppliers, retailers, and clients to strategically plan and manage logistics, warehousing, and customer service.
Logisticians also use project management software to perform essential logistical functions like inventory, compliance metrics, supply chain, etc. In addition, they analyze data to identify areas for improvement. Lastly, they ensure legal compliance throughout all aspects of logistics and supply chain management.
4. A Financial Analyst
Median Annual Pay: $95,570
Projected Growth: 9%
Entry-Level Education: Bachelor’s degree in finance or accounting
Job Summary: Typically, a financial analyst analyzes the firm’s financial performance to forecast its future performance and develop financial models to support corporate decision-making.
They also evaluate the firm’s financial data, including budgets, income statements, and projections, identify trends, and suggest actions to cut costs and improve financial performance.
Additionally, a financial analyst prepares and presents in-depth reports on a firm’s financial health and potential threats to organizational leaders.
5. A Human Resources Manager
Median Annual Pay: $126,230
Projected Growth: 9%
Entry-Level Education: Bachelor’s or Master’s degree in human resources
Job Summary: The human resources manager is the primary point of contact for any and all matters concerning a company’s employees.
Their main goal is to nurture an overall positive working environment at the office. In light of this, the responsibilities that fall within their purview as HR professional includes the following:
- Creating and enforcing HR plans that are aligned with the company’s overall business goals
- Facilitating communication between the company and its workers to resolve complaints and grievances
- Managing recruitment, selection, and onboarding of new employees
- Managing and directing a performance evaluation process that results in improved productivity
- Promoting the growth, involvement, motivation, and long-term viability of the company’s human resources to meet present and future business needs
- Using HR analytics to help management with data-driven decision-making to drive business performance
- Complying with HR laws and regulations
6. Advertising, Promotions, and Marketing Managers
Median Annual Pay: $133,380
Projected Growth: 10%
Entry-Level Education: Bachelor’s or Master’s degree in marketing, finance, or business administration
Job Summary: Managers in this field are tasked with the following duties:
- Analyzing market trends and making projections to identify new sales opportunities
- Using organic and paid acquisition channels to increase brand awareness and generate new leads
- Planning and monitoring the marketing budget and allocating funds accordingly
- Using web analytics tools to develop marketing plans and implement and execute them successfully
- Overseeing the creation of marketing material and its publication across all channels
- Managing branding, advertising, and promotional campaigns to improve market share
- Delivering reports on the performance of marketing campaigns
- Promoting the company’s brand, products, and services at major industry events
- Building and maintaining strategic liaisons with vendors and key industry players
- Leading marketing staff and assigning tasks
There is a strong demand for graduates with business degrees, and for good reasons. Given the variety of available career options, choosing a program that caters to your interests and expertise and provides beneficial financial incentives is relatively easy.
If you’re unsure what business degree to pursue, it’s better to research the job opportunities available for business graduates and pick a major that aligns with your interests. If you’re still on the fence, consider the above suggestions before making a final decision.