Business degrees and careers

Business acumen is the ability to make smart decisions despite uncertainty. But where do the men and women in suits get their savvy? For many businesspeople, the first step on the road to success is a bachelor’s degree in a business-related field.

With 1 in 5 undergraduate degrees awarded in the U.S. each year going to business majors, the stability and career growth offered by a job in a company continues to hold appeal.

Business students learn what makes the corporate world tick, gaining in-depth knowledge of various functions like business administration, accounting, human resources (HR), finance, marketing, and logistics.

What does a business degree teach you?

Coursework will depend on your specialization; however, business majors of all stripes will generally need some knowledge of one or more of the three “languages of business”: economics, finance, and accounting. This will usually involve some math and statistics, although certain concentrations, like HR, are more soft-skill oriented.

In addition, business majors may learn about the fundamentals of marketing, management, entrepreneurship, and ethics. To be effective corporate employees, business grads will need to acquire strong communication and problem-solving skills.

A business degree equips graduates to help their company flourish – be it by leading a team, improving processes, double-checking financial records, making data-based predictions, or developing a talent strategy.

Types of business degrees

There are many types of business degrees. However, students who want to go into business should consider the Bachelor’s in Business Administration (BBA). This is one of the most common business degrees, and it provides a broad overview of the corporate world. Degree seekers learn the principles of management and gain fundamental knowledge of various business operations. BBA students can also specialize in a particular business function, like finance, HR, entrepreneurship, etc. This makes the BBA particularly versatile.

Students who opt for a less generalist degree may have to choose between a Bachelor of Arts (BA) or a Bachelor of Science (BS) in their desired major. There are several key differences between a BA and a BS, with the BS being more technical.

The associate degree in business administration

The associate degree in business (AA in business or AA in business administration) can be a powerful tool for future entrepreneurs and office workers, as it will give you a general overview of what you need to know to run a business or work in an office environment. While few jobs explicitly require an AA in business administration, the degree can teach you powerful skills that will give you an upper hand against your competitors in business and commerce. It can also set you up for an entry-level position at a corporation.

Additionally, an associate degree in business can provide cheap entry to a bachelor’s in business program, as you can to transfer to a 4-year institution later.

The data shows that despite slightly below-average earning outcomes, a business degree is certainly worth it, as salaries can be considerably higher later on in your career. A business degree is one of the most reliable gateways to a secure corporate job – with paid vacation, good health insurance, retirement accounts, and maybe even dental. Commerce is central to the U.S. economy, so an investment in business education is highly likely to pay off eventually.

Top schools for other types of business degree

We have ranked the best undergraduate programs in various business-related fields.

• Best bachelor’s in accounting degrees
• Best bachelor’s in finance degrees
• Best bachelor’s in marketing programs
• Best bachelor’s in human resource management programs

A business education puts you on a reliable path to a stable career. According to the Bureau of Labor Statistics, business jobs are expected to grow 7% from 2021 to 2031, which is about average for the job market. At 17%, financial managers have the highest projected job growth through 2031 among business-related professions.

There are many lucrative jobs for business majors, most of which only require a bachelor’s degree. As a business major, you’re very likely to eventually end up working as a manager: 25% of people employed in business do so. Another 23% have business and financial roles, meaning they handle the day-to-day aspects of keeping a business going. So, what jobs can you get with a business degree? We list just a few examples below.

The Master of Business Administration (MBA)

An MBA, or Master of Business Administration, is the quintessential business degree. It offers practical and theoretical training in the fundamentals of business management and leadership, as well as key topics in accounting, finance, marketing, business law, and economics. They typically provide training across all key business areas.

According to research by LinkedIn, an MBA from a top-tier school can lead to a career boost equivalent to 13 years of professional experience, and 5 years for middle-tier schools. That means a 2-year educational investment can accelerate your career by anywhere from 3 to 11 years.

Ultimately, MBA students are often want executive roles in business organizations. Others may be aspiring entrepreneurs looking to start their own business. Some others may be using the MBA as a step towards CPA certification.

Other options for a master’s degree in business

Other master’s degrees in business-related fields are focused on specific business subdisciplines. Unlike MBAs, they are more commonly pursued by recent college graduates.

Many different business-adjacent master’s degrees are available. For example, accountants who want to be the best number-cruncher in the room may want to investigate the top master’s in accounting programs.

Final thoughts

Money makes the world go round, so there will always be plenty of career opportunities for people with business degrees. A huge number of middle-class Americans work at large companies, doing their part to maximize profit and ensure everything runs smoothly. Despite relatively low early-career earnings, majoring in business is a reliable path to a financially secure future.