Are you thinking about getting a business degree? There’s no reason to be on the fence when it comes to getting a degree that will change your life for the better. Many students attend college while wondering if their degree will be used in the real world. That’s never the case when it comes to a business degree. It will be an invaluable asset that will shape the rest of your life. There is a multitude of job opportunities for those who work hard and get a degree in business.
Here are Some Things you can do with a Degree in Business?
If you are trying to decide what degree may be best for you look no further than a business degree. Apart from the high salaries, another reason for thinking of pursuing a business degree is the wide range of jobs you will be able to apply for once you get a business degree.
Such a degree in business can become your ticket or entry in business for a wide range of opportunities. And, there are a lot of things that you can do with a business degree.
The skill and knowledge that you gain through getting a 4-year degree will be beneficial in the job market. Let’s look into why you should look at getting a business degree.
Choosing a Business Major
When choosing a college major, it is always important to look at the bigger picture. You want to think about what kind of job or career your college major is going to get you.
You are going to be spending so much time and money in those four years that you want to make sure that it is worth it. So many people nowadays graduate college and have trouble getting a job. They never really looked that deep into the type of careers and jobs they would be applicable for when choosing a business major.
How much Schooling do you Need?
It is also important to see what kind of schooling you will need for your ultimate end goal. This means looking into how much schooling you will need to get your degree. You need to consider what degrees you will need, and the best colleges for your future career.
If you start doing this type of research now, it is only going to help you prepare to graduate and have a job lined up. This is the best way to start figuring out what kind of job/major you would like.
What Kind of Jobs Can You Get With a Business Degree?
There are many areas in which you can be employed if you obtain a business degree. Some of the best career opportunities include:
- HR/personnel Department
- Sales & Marketing Department
- Public Relations
- Retail Management
- General Management
- Financial Services
- Banking Sector
- Investment Firms
- Management Consultancy
Choosing or Changing Majors
Changing your major while in college is typical and doesn’t always have to put you back in your studies and years to graduate. You can still graduate on time depending on the circumstances.
Stick with your major if you can so if you are in business school and you want to switch from marketing to business finance that is ok. Try to avoid switching majors if you can, especially as you get to be a junior.
Choosing a Business Degree
When it comes to choosing a business degree, my best advice to you is to pick a specialized area of business. A broad business degree may not always get you where you want to go.
The reason for this is because no matter what job you are up for, the people going against you are going to be specialized in a certain job title whereas you know a little about everything. Each college has different specializations you can choose examples:
Find the one that best suits you and the career you want to obtain. If you want to go back and get your MBA, then get your specialized business degree then go for the MBA.
If you get a general business degree you will most likely end up going back to school to specialize anyway, so you might as well do it in undergraduate school.
The best part of having any business degree is opportunities. This is one major where you never have to feel like you are stuck on one path. You can always change your mind and try a different path in business.
Even if you have a major in accounting, you could always end up as a consultant, a financial planner, a marketing chair, or even a CEO. Your opportunities are basically endless as long as you put in the work.
What is a Business Degree?
A business degree is exactly what it sounds like. You will study all aspects of business. You’ll learn everything from accounting to marketing. You see, the scope of business is one with many different facets.
A business leader is someone who can juggle many various tasks at the same time.
This is one of those areas where it’s possible to work in many different fields. Someone can manage in a restaurant or an internet service provider. There is almost no limit to what this degree can enable you to do. This is good news for anyone who wants to mix things up and work in several different fields during their lifetime.
Why Earn a Business Degree?
Never has there been a better time to have a degree in business. There are a plethora of job opportunities, and it’s not going to change anytime soon.
The number of fields that your business degree is useful in means that you’ll have steady work. It’s possible to work in many different fields, and that also means you can easily travel with your business degree.
There is no part of the country or the world for that matter in which a business degree isn’t useful. Simply put, business is going on all over the world, and your degree will enable you to be mobile in ways many professions can’t be.
What Kind of Business Degrees are There?
You may be surprised to learn that there are several different types of degrees that business majors can select. Here are a few of the possible degrees that you can work towards:
- Business law
- Human resources management
- Healthcare management
- International business
- Information systems management
These are just a few of the options available. It’s important to note that not all places of higher education will offer these degrees.
Those seeking something other than a typical bachelor’s degree in business should make sure the college has the appropriate courses. You will find some schools specialize in some areas and for that reason, they may be a better choice to attend.
What can you do with a Business Degree?
This is what makes having a business degree so exciting. A business degree is one of the most versatile things you’ll ever have. You can’t say that about almost any other degree that a college offers.
You can do everything from starting your own business to managing the business of a major corporation. You will be given the tools to make it all possible.
What you do with your business degree is totally up to you. You can run a retail store or be a VP of a major fortune 500 company. Your business expertise makes it so theirs is no limit on the type of employment that you can gain.
You will not find yourself pigeon-holed with a business degree. It’s possible to spend a portion of your life working for an oil company and then manage a chain of barbershops. It’s hard to imagine what can’t be done with a business degree.
Your education will make it possible to run anything that has a business backbone to it. That means you are not going ever to have a difficult time getting a job.
There are many types of jobs that you can get with a business degree. Here is a shortlist of the many that you will be qualified for.
You’ve probably heard the term general manager. General managers run almost every type of retail business you can think of. These include restaurants, department stores, and online shops as well.
Any business that is large enough to become successful needs a general manager. You might be surprised to learn that even convenience stores have general managers. If money is being spent, someone needs to be in control of the business.
Advertising is a world of its own. It takes a creative person to be in this business. It’s not for everyone, but there is plenty of money to be made by anyone who feels like they are persuasive enough to get the public to buy something.
Financial Services including Banking and Investing
This is an area for all of you who love to crunch numbers. Some will think of this area of business as boring, but it doesn’t have to be that way. Financial services are something that has to be in your blood, or it won’t work for you.
Something even the best business managers need help smoothing out the rough edges. This is where you come in and lend a helping hand. Your job position will only be temporary as you’ll live once the task is completed. It can be a fulfilling career for those who like to turn companies around and move onto the next challenge.
Sales and Marketing
Are you the type who likes to thrill of the hunt? If so, then you need to get into sales and marketing. It’s all about results here.
It takes a special person with the type of vision required to get things done to pull off a career in marketing. It’s all about the numbers in the end and you’ve got to come up with the sales to make a difference.
What is an MBA, and Should I Get It?
MBA stands for Master of Business Administration, and if you should get one depends on where you’re at in life. What are your goals, and where do you want to go?
An MBA might be useless for someone who lives in a very rural area where an advanced degree isn’t needed.
You have to consider your age. Someone close to retirement is probably not going to benefit as much from getting an MBA. If you’re a young person in an area where lots of business is being done, then having an MBA might give you the upper hand when seeking out employment.
Are there any Business Associations I Can Join?
The short answer to this question is yes. There are many business associations you can join, and which one is best for you is up for debate.
The place where you should start looking for an association is at your local Chamber of Commerce. They will more than likely guide you to Small Business Administration and SCORE. But, it’s best to hear them through and see what they have to say. If you’re a recent graduate or if you’ve moved into a new area, then your Local Chamber of Commerce is the place to go.
How Much Money can you Make With a Business Degree?
The amount of money you earn will depend on where you live and what business major you get. Geographic locations where the cost of living is higher will pay the best.
A recent business graduate should expect to earn at least $50,390. The top 10% earn $120,000 per year. If you’ve just graduated, you should expect to earn in the low $50k range.
Those who have some years of experience under their belt can expect to make more. The highest amounts are earned by those who take it one step further and specialize in something.
Creative people can earn top dollar by getting into advertising. It’s not unheard of for a creative person in a massive market like New York City to be able to demand a high salary if they’re invaluable to the company.
When it comes to the amount of money that you can earn with a business degree, I would say that there is no exact figure. Your salary will depend on the position you can get and experience. If you are straight out of college your experience will be low and so will your pay.
In the U.S., generally, a person with a bachelor’s degree in business is recruited for the entry-level positions.
Once you gain experience and become really good at your job you can move up to middle management. The salary paid at that position usually ranges from $40,000-$60,000 a year.
Getting a master’s degree in Business (MBA), you may be able to get promoted quicker to a higher position. Higher-level positions in big companies can get you a salary of $90,000 a year or even more.
The business degree is just a means to make it into a company at an entry-level. It will be up to your own ability and skills to excel in that job of the organization so you can advance and earn more income.
If you perform well, you can achieve a level of seven or eight-figure or even millions a year. The millions of dollars are once you become a CEO or high executive in a very large corporation.
Once you get to enter in the field after getting the degree in business, the income potential and a consistent growth will be a reason to stay in the field.
You can check out what are the top college degrees for more degree information.
To start off you should start talking to campus recruiters as soon as you start your freshman year. A campus recruiter is an employee from a company who comes to colleges to scout out students who may be a good fit for their company.
They help them apply for summits, programs, internships, and more. This is a great way to start on the ground running and to start talking to people who are in the field.
Shadowing and talking to others who are doing the jobs that you foresee yourself doing is the best way to see if that job is the right option for you. Always take advantage of the resources your school offers and advice of people already in the workforce.
Big Four Companies
The “big four” companies are the four largest accounting and auditing firms. They hire all sorts of people in business, not just accountants. Working at one of these firms is a great end goal to have and a great thing to start looking into as soon as you possibly can.
The companies are large, and they have locations all over the country.
Even though all these decisions may seem far off and in the distant future, college goes by so quickly. The best thing that you can do for yourself is to research and be the most prepared. Doing this type of research on companies could even help you figure out what you don’t want to do.
Maybe after looking into all these huge firms, you realize that you would be better at a smaller company or a non-profit. The only way to stay on top and ahead of other people looking for the same jobs as you are to be prepared and do your research.
The big four companies are Deloitte, KPMG, PWC, and Ernest and Young. Working for a big four companies usually tends to get you a higher salary as well.
Well Known Companies
When looking for what to do with a business degree, you can start by looking at the companies that you already know. Once again it depends on what type of company you want to work for.
You could start looking at retail companies like Abercrombie, Kohls, L Brands (which owns Victoria Secret, Bath and Body, and more), etc.
You must make the decision for yourself and go out there and work for what you want. Figure out what type of company would work best for you. You could look at working for corporate at major stores like Walmart or online places like Amazon, Microsoft, Google, etc.
Another thing to investigate is working for a non-profit. There is a lot that goes into working for these types of companies and it is a different feel than corporate.
Places that are non-profit that you could work for are places like the YMCA, American Legion, AARP, Wounded Warrior or the Red Cross.
Many people also will start working for startup nonprofits after school. This basically means that it is a non-profit company that they support that just started.
This is a great way to work within the business while still doing and supporting something that you love. The job may take a little bit more research, commitment, and reaching out than other corporate jobs.
Working for a non-profit may start you out with a lower salary than others, but it is very rewarding and easy to make your way up to the top where you can make a higher salary. You could always start your own non-profit.
A consultant does not have to be someone at a big fancy firm that went to an Ivy League school. A consultant is simply someone is specialized in a field and gives others their advice or expertise to help them succeed.
It is a great field to get into and you can be a consultant no matter what type of business you were going for in college.
There are consultants for almost anything and at so many different companies. If you are looking for a larger salary, consulting is one way to go. At least 20% of full-time consultants make above six figures.
Consultants also usually have a very decent starting salary right out of college. Once again it just depends on the kind of job you want, what you are good at, and what kind of salary you need.
What are the Highest Paying Business Jobs?
Making money in this world is important because you want to provide for yourself or your family once you start one.
You need to know what the highest paying business jobs are so that you can make the most out of your degree. Here are the highest paying business jobs:
The chief executives like Chief Operating Officer (COO), Chief Executive Officer (CEO), Chief Financial Officer (CFO), etc are the officers of the senior level. They can earn an average income of $180,000 to $3,000,000 per year as base salary but can make much more in stock options and bonuses.
You also get perks like the company jet to fly anywhere in the world. A CEO at a company one of my friends worked at would take the jet to go home to New Jersey on a Friday then fly back to work on a Monday. He lived in New Jersey, not in Ohio where the corporate headquarters was located.
Sales managers are responsible for the sales performance of the company. They manage to establish sales goals, prepare budgets, and analyze revenue data and other similar tasks. Their annual salary may range from $60,000 to $125,000.
The main roles of marketing managers are optimizing the profits, keeping customers satisfied and loyal, outpace competitors, etc. They are considered responsible for the effectiveness of marketing tactics made for attracting customers. In the US, the average annual salary of marketing managers may range from $130,000 to $200,000.
HR (Human Resource) managers are involved in activities like giving advice on personnel policies, making administration of employee services, hiring process, solving staffing problems and other related activities. The average annual income of an HR manager may vary from $75,000 to $125,000.
Keep in mind that just after getting a business degree, you will not be offered the maximum salary per the jobs listed above. In the beginning, you will probably be offered an entry-level position. Entry-level positions don’t really offer you a huge salary.
It takes time and experience to start earning a six-figure income. If you get a master’s degree in business, there is no doubt it will only help you fast track up the corporate ladder. That’s why many students get a master’s degree in business once they are done getting a bachelor’s degree.
What Business Degree is in High Demand?
A business degree offers the students the opportunity to work in various areas. With such a degree, you can think of applying in private, government, corporate, health and other job sectors.
The business degrees that are in high demand are as follows:
MBA (Master of Business Administration) is quite popular and in high demand in the business world. The universities that offer this degree are available all over the world. Having an MBA degree is far better than simply having a BA degree only. There is a high demand in Fortune 500 companies for the candidates having an MBA degree. And, an MBA degree can help with getting a high salary as well.
Business Degree in Management and Administration
Business management and administration degrees are in very high demand all over the world. That’s because the range of subjects taught in this degree is very wide. Students pursuing this degree are taught of the real challenges that are faced in a company or organization.
Business management coursework:
- Business communication
- Basics of accounting
- Management theory
- Plus more
- Accounting basics
- Business language
- Business composition
- Office management
- Plus more
Business Degree in Finance and Economics
This degree in finance and economics is also quite popular in the business world. There are various jobs for candidates with this degree. This degree is what you need for the financial sector. Areas like the stock market, banks, etc come under the category of this sector.
- Corporate finance
- Financial reporting
- Core business
- Plus much more
- Economic theory
- Economic development
- Labor economics
- Plus much more
Business Degree Accounting
This degree in accounting is by no surprise one of the top business degrees you can get. The skills needed to do the jobs in accounting make you highly sought after by all different kinds of companies.
The US Bureau of Labor has predicted accounting jobs to increase by 10% through 2026.
- Corporate financial reporting
- Financial reporting
- Corporate structure
- Cost accounting
- Plus more
- Actuary (Big Money)
- Medical service manager
- Finance manager
- Operations manager
- Plus more
Is Business a Good Degree?
Yes, of course. There is little doubt that getting a business degree is a great idea. Let’s check out why…
By pursuing a business degree, you can upgrade your business skills like interpersonal communication, leadership, etc. If you obtain a degree in business, it becomes easy for you to get a good job. There are a ton of different jobs you can get within companies when you have a business degree.
The salaries can also be higher compared to the jobs obtained with many other degrees.
Getting a master’s degree in business can help to get you a higher salary.
Business has to be something you are interested in when you go to pick a degree.
What are the Top Colleges to Go to for a Business Degree?
If you are planning to major in business and get a business degree, it is important for you to find the top colleges in business.
Here is our guide for future entrepreneurs and CEO’s. I have listed below the most preferred colleges for a business degree:
- Babson College
- University of Texas
- University of Pennsylvania
- Bentley University
- Massachusetts Institute of Technology
- University of Michigan
- Washington and Lee University
- University of Southern California
- Fairfield University
- Carnegie Mellon University
Conclusion on a Business Degree
Is a business degree right for you? That’s only a question you can answer. There is a never-ending supply of work ahead for those who have a business degree. Though those who live in larger cities will find the best opportunities, this is true regardless of the field you go into.
You shouldn’t get a business degree because you think it’s going to make you a ton of cash. Yes, the world of business is profitable, but you’ve got to enjoy your work.
No degree is worth pursuing if you don’t think you’ll enjoy the work ahead. It’s always best to seek out opportunities in areas that you find enjoyable. By going this route, you stand the best chance of succeeding as you’ll perform better and be more eager to go to work.
Overall, there are so many different things that you can do with business. If none of these choices above suit you, you could also be an entrepreneur as well.
The opportunities are endless and the sky’s the limit when it comes to business. There is no point in going to college, spending all of that money plus time, and working so hard to get a job just to work somewhere that you don’t enjoy.