If you’re looking for reasons to major in business at college, you’ve come to the right place. We have a strong list of reasons why business is a good major if you have the right traits.
It’s unsurprising that there are many excellent reasons to major in business. The field is one of the most popular at a bachelor degree level. And, among graduate programs, a Master of Business Administration (MBA) is perhaps the biggest degree globally.
1. Great Salary Prospects
Not only do people with a business major generally have a relatively high starting salary, but they can also expect this salary to rise significantly throughout the years. Business graduate can count on early salaries of anywhere between $60,000 and $100,000 on average, depending on the specific sector. You can see the salary stats in this Chron article.
Additionally, the pay numbers can increase drastically when you have years of experience to back them up. Of course, it goes without saying that you’ll earn more with an MBA and senior management position. But a bachelor’s degree in business also doesn’t lack in this department.
2. Graduates are Highly Employable
By going for a business major, you open up a huge number of career possibilities. That is to say, when you have a business degree, you’ll be broadly employable in the labor market. Unemployment should be something you won’t have to worry much about in the future.
A graduate destinations survey found that 68 percent of business bachelor-degree graduates were employed full-time, 13 points higher than the average for all graduates. As few as 11% were looking for work or waiting on acceptance into a course of study.
Business courses, especially longer programs such as bachelor degrees and MBAs, are general in nature. As well as your particular major, you are likely to cover business disciplines such as accounting, communications, finance, human resources, marketing and management. Upon graduating, you can pursue your specialty but also a range of other career possibilities.
The thing about business is that the skills you learn apply to all organizations. Every company needs professionals to do jobs such as accounting, administration, financial management, marketing and recruiting. What’s more, the fields are often linked. If you are qualified in one business discipline, you should find opportunities to move into others.
3. Use Your Math and Communication Abilities
Business is a good area to get into, both in terms of study and career-wise, if you are strong in mathematics and communication. The field is one for all-rounders. A business major should be able to comfortably switch between analytical tasks and communicating simply to people verbally and in writing.
Numbers are important in many business disciplines, including accounting, business analytics and statistics, finance, logistics and marketing research. By doing a business degree, you’ll have plenty of opportunity – during the course and after – to put any math ability you have to good use.
Effective communication is also valuable in business. You don’t need to be a great orator or expert wordsmith, though it could help. What you need to be able to do is communicate clearly so that you’re easily understood. This includes being able to convert analytics into spoken words or reports that everyone can follow.
4. Business Complements Other Study and Career Fields
The great thing about a business major is that it is very easy to combine this with other programs at college or university. You can switch out of the business faculty altogether or do a double major or double degree if, during your studies, you decide to specialize in a science or humanities field for example.
If you decide you want to pursue any sort of higher education after your first degree, from technology to psychology masters programs, business degrees usually fit well.University of the Potomac
The same versatility applies to a business degree post graduation. The analytical and communication skills you learn, plus the qualification, should hold their value almost no matter which direction your career goes. The same can’t be said for more specialist fields such as health studies, surveying and architecture.
5. A Business Major Expands Your Network
Business majors can benefit from their degree by expanding their network of connections. This really shouldn’t be underestimated. A broad, well-functioning network of contacts and friends can help you clinch a career-defining job opportunity or business deal.
At business school, especially if you do a postgraduate course such as an MBA, you should be in contact with like-minded students. You may work on group projects together or connect through class discussions, tutorial workshops, informal study groups and alike.
You’re put into small study groups and work closely together — that builds a really strong bond.Abigail Kies, Yale School of Management
By the time you graduate, you should find yourself in a stronger position. For a start, you should have broader perspectives and industry insights from knowing your classmates. In addition, then or in the future, you could get job opportunities and important, pragmatic advice via your web of connections.
6. Advancement Opportunities
With a business degree in hand, graduates tend to have diverse growth and advancement opportunities at their disposal.
For example, if you like the idea of owning your own business one day, a business degree makes that ambition more possible. Management and leadership roles also come into the picture, especially if you decide to do an MBA.
Business is not one of those fields where you quickly hit a ceiling, such as nursing, teaching and manual trades. You could be employed in a company at any level, from a junior office position right through to CEO.
7. You Gain Useful Life Skills
One thing you should know about a business major is that your education, both while studying and after, teaches you valuable life skills. These abilities come in handy when you’re out there in the competitive business world but can also be incorporated into day-to-day life.
Knowing how business works is a huge advantage. It gives you a different perspective on the world around you and opens up a whole range of opportunities.Richard Branson, founder of the Virgin Group.
For example, you learn how to independently solve problems in areas such as service delivery and managing finances. You also gain communication and consultation skills. Additionally, you may improve your ability to manage projects and people, collaborate, and organize teams, among many transferable practical skills.
The skills you gain can be applied in life areas such as running a household, maintaining a network of contacts, handling spending and making all kinds of investments. You can also share your knowledge with those close to you.
8. You Have a Business Brain
Business is an excellent choice of major if you have a business brain. This means you think in a way that helps you to make money. Majoring business will help you capitalize on your business brain. The degree will help train your mind and later provide job opportunities to create wealth.
A person with a business brain or business mind sees – and captures – opportunities to provide value to others. At the same time, they have a sense of personal worth that encourages them to make large financial gains from their enterprise.Daniel Darrow
Having a business brain is more than being smart and greedy. As much as anything, it’s about grasping chances to be of service to others. People get wealthy by offering things that others find valuable. A business major will give you more tools to convert your ideas into profitable business ventures.
9. Versatile Career Options
Suppose you don’t have a good idea yet about what you’ll be when you grow up? In that case, a business or business administration degree could well be the best choice. It will keep your career options open.
A business administration major provides a broadly valuable foundation of knowledge. Your capabilities can be applied to many different industries, from finance to retail to healthcare. Skills such as critical thinking, problem-solving, and communication, are highly valued by almost all employers.
A good business program will also provide electives that allow you to specialize in fields such as marketing, finance, or human resources. You can gain knowledge and skills to help you pursue a career in that field, while not ruling out alternative career paths. Generally, you don’t have to start specializing until after your first year of business studies.
Mark Cuban and Michael Bloomberg both have a Bachelor of Business Administration (BBA) degree. Mark Cuban studied Management and Computer Science at Indiana University Kelley School of Business. Michael Bloomberg received his BBA in Business Administration from Boston University’s Questrom School of Business.
Anyone with a knack for entrepreneurship mixed with good social skills will be a good fit for business. Anything otherwise, a much more introverted career would work well for them. I mean you really do have to interact with people anyhow, especially when you do own the business unless you ask someone else to do the work.
One of the things I gained from my business major was the ability to not only run and manage someone else’s business but have the knowledge to start my own. I am proud to say that I am launching my first business this year! I had planned for 2021 but covid-19 got in the way. It just gave me more time to save, plan, and invest and I am so thrilled!