Business Degrees

Career summary: Budget Analysts

Average Salary

$76,540

National Average, Source: Bureau of Labor Statistics

Career Outlook

Good

4% job growth by 2028, which is as fast as average

Earn a degree in business from an accredited college

Business is a phenomenon that extends to all corners of the globe. Business often refers to commercial enterprise, profession, or trade conducted for the purpose of earning a profit by providing a product or service. As such, there are countless types of businesses and ways in which to classify them.

Overview

Business original

Why would I want a business degree?

There are two main reasons why a degree in business is very desirable. The first reason is because jobs in the business sector have historically been steadier than most other jobs. Even in tough economic times, people who have degrees in business are still in demand. The second reason that getting a degree in business is desirable is because the median salary for a person with a business degree is significantly higher than the average median salary.

Job Description

What can I do with a business degree?

Since all kinds of industries have a business side to it, the types of things you can do with a business degree are very, very diverse. In fact, business degrees are the most versatile types of degrees that you can get. People with business degrees can be found working anywhere from the farming industry, to international trade, to government. That is why many people who don’t know exactly what direction they want to take their career in get some kind of business degree.

The types of business degrees offered are also quite varied. You can focus your concentration on economics, finance, information systems, etc.

The most common types of business degrees include:

  • Accounting
  • Business Management & Administration
  • Finance
  • Entrepreneurship
  • Marketing

Salary

How much does a person with a business degree make?

Since there are so many different kinds of positions in the business field, the statistics vary a little on starting median salaries. From most accounts, the starting median salary for people with a business degree (of any discipline or emphasis) is between $50,000-$87,000.

This starting median salary is significantly higher than the starting median salary among all professions, and the potential for growth with a business degree is also much greater. Source: https://www.bls.gov/ooh/business-and-financial/home.htm. For example, a starting salary for someone with an accounting degree is in the mid to high $50k range. Over a ten year average, though, the salary is between $100k-$110k, and those kinds of jumps are typical for many business degrees.

Signing bonuses are also quite common for people who graduate with a business degree. The average signing bonus for someone who graduates with a business degree is around $6,000.

Career Outlook

How popular are business jobs?

As was mentioned earlier, every industry has a business side to it. In doctor offices, someone has to keep track of accounts payable/receivable and be in charge of billing. In the farm industry, someone has to get the produce to market and make sure that a fair market price is paid for the crops. Engineering firms often times need sales people on staff to find new customers and help transactions happen, and the list goes on. Anyone with a business degree might be eligible for the jobs listed above, not to mention the more traditional jobs you think of when a business degree is mentioned (such as banking, financial analysis & planning, managing a company, etc.).

Due to the diversity of business degrees, the outlook over the next decade for job growth in the business industry is above average among all industries. Certain fields in business are also very competitive, so the demand may be higher than the supply, despite the high percentage growth rate.

Career Path

How do I become a professional in the business industry?

The best way to become a professional in the business industry is by getting a degree. Sure, there are notable exceptions to this rule, but those kinds of exceptions are few and far between. The fast track to success in the business industry comes by choosing an area of business you want to specialize in, and getting a corresponding degree. A bachelor’s degree is a minimum requirement these days for most entry level positions, and an MBA (Master’s in Business Administration) is required in most cases to move up the corporate ladder.

Salary and career outlook data provided by the U.S. Bureau of Labor Statistics.

Learning Format

Location

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Business Schools (128)

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