Overview of the Best Business Degrees for the Future
Degrees in the field of business are varied, widely-available, and prepare students for a number of different careers. Considerations include the projected rates of job growth in different fields and what degrees are required to obtain employment in these areas. Below, we will look at five different business degrees that will prepare students for careers in fast-growing industries. We will explore these programs in detail so that students can make the most well-informed choice possible.
Bachelor of Business Administration
Students who are interested in obtaining a well-rounded business education may want to pursue a Bachelor of Business Administration degree. This degree exposes students to coursework in traditional business topics, including the principles of management. With a BBA degree, students will likely be able to find many different jobs in the business field. After gaining some work experience, students may be eligible for a career as a financial manager, which is a field that is expected to grow by 19% between 2016 and 2026, according to the U.S. Bureau of Labor Statistics (BLS). That growth would be almost three times the national average growth of 7% for all occupations. Financial managers earned a median annual salary of $121,750 in 2016, says the BLS.
Bachelor of Science in Finance
Another relatively broad business degree at the undergraduate level is a bachelor's degree in finance. This degree program would prepare students for a number of professional certifications, like the Chartered Financial Analyst (CFA) or the Certified Financial Planner (CFP).
As bachelor's degrees in finance expose students to a number of business-related concepts, these degrees are broad enough to prepare graduates for many careers. Students who are particularly interested in working in the financial field may want to consider a career as a personal financial advisor. According to the BLS, these professionals made a median salary of $90,530 in 2016 and the field is projected by the BLS to grow by 14% between 2016 and 2026, which is double the national average.
Bachelor of Science in Accounting
An undergraduate degree in accounting is another good choice for individuals who are interested in a business profession with strong growth potential. Pursuing a bachelor's degree in accounting could prepare you for a career as an accountant or auditor and provide you with adequate preparation to take the Certified Public Accountant (CPA) examination. In 2016, accountants and auditors made a median salary of $68,150 per year, states the BLS, and the field is expected to grow by 10% between 2016 and 2026.
Bachelor of Science in Business and Engineering
As technical careers continue expanding, individuals who want to be qualified to work in technical industries but still want to have a business foundation may be interested in obtaining a bachelor's degree in business and engineering. This type of degree is typically offered by a university's school of business and the school of engineering. With a bachelor's degree in business and engineering, you would be qualified for a number of business and technical positions, like that of an operations research analyst. These professionals made a median salary of $79,200 in 2016, reported the BLS, and growth within this field is projected at 27% between 2016 and 2026, which is almost four times the national average for all occupations.
Bachelor of Science in Economics
Individuals who are talented in mathematics and also interested in business may want to consider a bachelor's degree in economics. Students in these programs will take courses in statistics, microeconomics, macroeconomics, and other theoretical and practical economics courses. An undergraduate degree in economics is adequate preparation for a number of business-related fields. One option for individuals with this degree who are interested in entering a field with high projected growth is that of a market research analyst. This career is projected by the BLS to grow by 23% between 2016 and 2026, and the median salary for professionals in this field in 2016 was reported as $62,560.
How to Choose a Business Degree for the Future
Choosing among various business degrees may be a challenge for prospective students. Students who are still uncertain about what kind of career they ultimately want to pursue may want to obtain a more general business degree, like a BBA or a degree in finance, as these degrees are broad and expose students to many business concepts. Individuals who are already clear on their future career may want to select a more specific degree, like a business and engineering degree which will provide them with more tailored preparation.
The length of various degree programs may also be considered, since some of these may require significantly more credits than the 120-hour range. In addition, students will likely want to consider where each program is located, what type of coursework is offered, and whether programs provide students with internship and externship opportunities. As a final note, business students who want to get the most value for their money will probably want to ensure that their choice is accredited by AACSB International (The Association to Advance Collegiate Schools of Business).