Business consistently ranks among the top college majors. It also happens to be one of the least-regretted fields of study, according to a recent ZipRecruiter survey of more than 5,000 college graduates. If you are exploring your options for your college education, here are five compelling reasons to consider earning a business degree.
1. Gain highly marketable knowledge and skills
A business degree gives you knowledge and skills that employers want and that translate across many roles and industries. You will have the opportunity to apply your education, grow your experience, and maybe even combine your passions in a variety of industries such as:
- Health care
- Nonprofit organizations
- The music industry
- …And the list goes on!
All of these industries need people who understand business. If you choose a business school with ACBSP accreditation, your education will combine academic theory and practical skill development to prepare you for a smooth transition into the workforce. As business continues to expand on a global scale, there are many opportunities for professional growth.
2. Business is a top major for a lucrative career
We certainly can’t guarantee you’ll make more money with a business degree. However, when Kiplinger released its 2019 list of Best College Majors for a Lucrative Career, several business and technology programs were part of the list, including:
When U.S. News & World Report released its list of the 25 Best Jobs of 2019, financial manager, accountant, and technology careers all made the list.
3. A business degree could help recession-proof your future
According to a recent survey by the National Association for Business Economics, 72% of economists believe a recession will begin by the end of 2021. One of the side effects of a recession is increased unemployment. However, a business degree may help you ride out another recession. According to the Graduate Management Admission Council (GMAC), following the Great Recession between 2007 and 2009, 86% of business school graduates found employment in 2011 after earning their degree. Business degree graduates often enter in-demand career fields such as financial management, information technology, management, and human resource management.
4. Everything is business
No matter what career path or industry a person chooses, there is a business component to everything we do. In her essay “Yes, the World Needs More MBAs,” Sally Blount, former Dean of the Kellogg School of Management at Northwestern, states that the world’s problems are becoming more complex and we need leaders with skills that an MBA can provide.
A strong overall understanding of how business works helps you make more well-rounded business decisions. That business knowledge is critical in financial or accounting roles, but also at all levels of management or when starting and running your own business. For example, a person with a degree in information technology who gained core business knowledge in their studies will likely make better decisions because they understand how they affect the business.
5. Build on your education
Abigail Adams said, “Learning is not attained by chance. It must be sought for with ardor and attended to with diligence.” According to the United States Census Bureau, the number pf people with advanced degrees has doubled since 2000. For someone with an undergraduate degree in business, a master’s degree or doctoral degree can be a natural extension of your existing education. For someone without a business background, a master of business administration can help deepen knowledge and skills, increase earning potential, and open up professional opportunities.
Whether you are just starting to think about college or are getting ready to choose a master’s program, give business serious consideration as a field of study. You’ll gain valuable knowledge and skills that give you the flexibility to work in a variety of roles across many industries. You could potentially earn more and may face fewer challenges riding out a recession, but most importantly, you’ll gain the foundation to help build a satisfying and rewarding career, should you choose to do so.