A business degree is one of the most versatile degrees you can earn. Both graduate and undergraduate business studies can lead to positions in management, finance, marketing or a variety of other career paths. The field of business is as wide-ranging as it is customizable.
Each business degree starts with a foundation of communication and leadership principles. Depending on your concentration, you could build on that foundation by taking classes in the specialty of your choice. Interested in marketing? You could focus your studies on a suite of marketing courses. Have a head for numbers? Focusing on finance can position you to lead a company as a CFO.
Studying business offers students a lot in terms of preparation for the workplace. Being skill-forward and workplace-relevant keeps business degrees positioned as one of the most popular degree fields around.
A business degree is a course of study that allows you to explore all facets of the business world.
Whether undergraduate or graduate, earning a degree in business is a path toward becoming a strategic leader and problem-solver. A business degree leads students in skills like data analysis, critical thinking and accounting. If you enjoy developing different skills and applying them to a business environment, then a business degree is a good choice for you.
There are a variety of business degrees you can earn at all education levels, including:
Both degrees also offer a variety of concentrations. For example, its possible to earn a bachelors of business administration degree in accounting, international business or sport management, to name just a few. You can choose from similar types of MBAconcentrations.
You can also focus your learning further with a specialized degree at either the undergraduate or graduate degree level. If you know you want to work in a particular area of business, such as marketing or operations management, you might opt for a marketing degreeor an operations management degreerather than a broader business administration degree.
Business programs are built to align with skills that employers want. Traditionally, Dr. Mark Hobson, a senior associate dean of business at Southern New Hampshire University (SNHU), said most business degrees have six broad content areas:
These areas help business majors learnhow to make decisions based on the science of data and the use of predictive analytics. These are both incredibly important skills for creating sustainable growth with any business.
According to Deb Gogliettino, associate dean of business academics at SNHU, business majors are poised for success in careers like:
The beauty of a business degree is that "the world really is your oyster; with a business degree, you can work in virtually any field," Gogliettino said. Discover other jobs you could get with a business degree.
A business degree continues to be a solid investment in time and money and remains a proven method of career growth. If you are interested in starting your own business or taking on a leadership role in an organization, a business degree can be a smart way to get started, said Jennifer Wysocki '21, a SNHU graduate with a bachelors degree in business administration. Wysocki owns her own small business and serves as the director of development for a nonprofit organization.
Ultimately, the decision to earn a business degree is a very personal one, based on your interests and career goals. Applying your business degree to your career can be both fulfilling and profitable, as well as a personal joy. After all, the more we learn about and focus on what we love, the better we will come to know that area of focus within our careers, Hobson said.
Business degrees are particularly good for creating a focus on profitability, people management and the planet. Its critical to focus on all three in order to create a healthy, sustainable business. We need to grow and develop our people to maintain and sustain that profit margin. And we need to be mindful of our limited resources of the planet and how to repurpose and reuse material to save money and eliminate waste, Hobson said.
To focus on those key elements of profit, people and the planet, its key to develop expertise in the following skills, according to Wysocki:
Each of these skills helps a business major put their degree to strong use.
By having an in-demand business degree, you will have a competitive advantage over others when applying for jobs. This is because, no matter which program you choose, you can be trained in leadership, business and market operations, strategic planning, professional networkingand more, Wysockisaid.
A business degree can be a wonderful place for a learner to explore all facets of business. Choosing a concentration within a business degree makes the value of that degree that much stronger. Choosing a concentration in a business degree allows a student the opportunity to study specific areas of business that they may wish to incorporate into their career, said Dr. Jessica Rogers, senior associate dean of business at SNHU.
Business majors can make a lucrative salary if they apply themselves and look for opportunities to grow and advance throughout their careers.
The job outlook for business majors remains robust. According to the U.S. Bureau of Labor Statistics (BLS), business careers are expected to grow by 8% over the next 10 years.
The median pay range for a wide range of four-year business degree positions is $60,000-75,000. And, according to the Graduate Management Admission Council (GMAC), the median starting wage of MBA graduates is about $115,000 (GMAC PDF source).
A four-year business administration degree with a concentration in finance, human resources or marketing is a sure pathway to a successful and satisfying career, said Hobson. Once you've obtained your four-year degree, an advanced degree such as an MBA, masters in accountingor master's in project managementare solid options.
No matter what area of business you choose, make sure its the area that most closely aligns with your interests. In my experience, Hobson said, when a learner pursues an area of passion in business, they tend to achieve greater personal fulfillment, work engagement and personal happiness.
Earning a business degree can also be helpful if your goal is to own your own business. Wysockicredits her bachelors degree in business for helping her run her own small business efficiently. The skills she earned while studying business also help her in her role as a development director for a nonprofit organization. My degree has been extremely beneficial for my professional career, she said.
Its important not to underestimate the options that a business degree can provide. A business degree offers flexibility for someone who may have or want to develop specialized skills in a particular career field. For example, consider a student interested in working in the music industry. With a business degree, a student can work in the music industry in a variety of roles such as marketing, finance, accounting, human resources, management and more, Rogers said.
Likewise, a learner who may want to work in the medical professionbut want a role that is not patient-facing may consider a business degree. There are many roles within the health care industry where a person with sound business skills could thrive.
Regardless of your focus, combining a business degree with your own personal passions is a recipe for success, Rogers said.
For Wysocki, having a business degree allowed her to look for relevant opportunities to build on her existing education and consider whats next. As someone who works in philanthropy, I am responsible for the fundraising and marketing needed to advance my organization, she said. Because of this, she is considering pursuing an MBA with a concentration in marketing or perhaps social media.
Bottom line: the possibilities of what you can do with a business degree are only as limited as your imagination. The rigor of learning new information is challenging and fun. The foundational skills of every business degree will position you to be ready to succeed.
A degree can change your life. Find the SNHU business programthat can best help you meet your goals.
Marie Morganelli, PhD, is a freelance content writer and editor.
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What Can You Do with a Business Degree? - Southern New Hampshire University