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Deciding what field to study can be a daunting task for a college student. The choice to study business is extremely practical and, since a business degree can be used in almost any industry, graduates will find enormous versatility when it comes to career options.
In many cases, the real-world experience students gain while earning a business degree makes the school-to-career transition smoother than many alternative degree programs. The degree requires courses in a wide array of subjects like accounting, analytics, economics, finance, law and marketing. Students also study business ethics and organizational behavior. This combination of technical and interpersonal study helps students develop leadership skills and gives them broad knowledge about how to help an organization function well.
Of course, a business degree is extremely useful for students who think they may want to start a business of their own.
The professional job market consistently needs business-savvy, qualified, degree-holding graduates. The number of careers a person can consider with a business degree is limitless. Beyond management and marketing — two career paths typically referenced in relation to a business degree — there is a need for business graduates in government, international relations, nonprofit organizations and health care. Business principles can be applied in any career — another added value of a business degree.
While salaries will vary depending on region, level of experience, the size of an employer and other factors, the Bureau of Labor Statistics estimates that the median annual salary for typical business and financial occupations range from about $46,000 to $79,000. Students interested in business should be cognizant that this information includes many different types of professions they may not have considered, like event planners and loan officers. It’s typical for those employed in the private sector to have greater earning potential than someone who is self-employed or is a government employee. However, that can vary depending on the position.
Perhaps the best reason to pursue a business degree, regardless of the industry in which you wish to work, is because this degree offers significant opportunities for promotion within an organization. Anyone already working in business can be almost guaranteed to advance their career by earning a business degree; in fact, many employers cite the commitment to earning a college degree as one of the main attributes they seek in upper-level employees.