Skilled Business Majors have skills in implementing and improving business processes and recommending solutions to improve the operation of businesses. They learn how to use modern technology tools such as databases, software, and Internet-based applications to gather, organize, analyze, and communicate data for technical papers and presentations. Some business majors specialize in information systems, management, economics, finance, or marketing, while others may major in business administration, computer sciences, or communications. Business majors also typically find work in academia or government institutions. Business majors can be part-time, full-time, or freelance workers.
Typical Salaries for Business Majors vary depending on their degree and field of study. The annual salary cap for business majors is $40k; this amount can increase depending on a business major’s field of study, industry experience, or a number of years of experience in a similar position. For example, a degree major specializing in computer science may earn a slightly higher salary than a same-sized person with a bachelor’s degree in the same field. Business administration salaries also depend on overall industry demand and competition. The salary may be lower for business majors who begin at the bottom earning the most money and climb up the ladder. As one becomes more experienced and learns new techniques and strategies, the salary usually increases.
Generally, most business majors choose a major that allows them to develop problem-solving and communication skills. This ability makes business majors well suited to become managers, which usually require additional financial, marketing, and accounting degrees. Career options for business majors include general managers, who manage departments within an organization; senior managers, who are in charge of a large department; or middle managers, who are involved in planning and organizing employees.
Project managers, who are also known as project coordinators, plan and manage projects from inception to completion. Project managers, like other business majors, are expected to have problem-solving and communication skills. Those with these skills are usually in high demand in government, hospitals, or nonprofit organizations. Financial management is another specialization that provides job seekers with a projected increase in earnings as financial institutions face increased regulations. Graduates in this specialization earn higher salaries than other financial majors.
There are some career fields that do not require formal business degrees. Some careers can be completed without obtaining a bachelor’s degree, although certification is usually necessary. These include most types of work in the customer service area. However, because customer service jobs require interpersonal skills and social interaction that only some business majors are expected to have, a business degree may help one land these jobs.
Business administration, law, computer technology, engineering, business, health care, and accounting are the most common business majors among full-time workers. Business management and accounting degrees are common open jobs for recent graduates. Accounting and finance majors lead the pack with salaries of $39,000 or more, but those with lower average base pay can find employment almost anywhere.
If not for business majors, there are many other options for individuals seeking employment. Most entry-level positions require a bachelor’s degree, although some entry-level positions require only a high school diploma or its equivalent. A typical list of non-business majors includes public policy, marketing, biology, communications, maths, and physics. Graduates with bachelor’s degrees in these fields can find jobs in government, nonprofit organizations, nonprofit corporations, the media, and education, in hospitals and nursing homes, and in several other settings. Many employers prefer graduates with at least a bachelor’s degree, as they are usually seen as more qualified and experienced than graduates with associate degrees or other levels of education.
While the salary for business majors is typically higher than the salary for most other majors, the nature of the field and the responsibilities required make it appealing to students of all majors. Earning a Bachelor’s degree in Business Administration can take two to four years, depending on the concentration one pursues. Online programs are available that can shorten the curriculum and increase students’ earning power. With a combination of a high salary and an array of employment options, Business Majors provide students with an excellent chance to meet their career goals while receiving a superior education.