15 Best Business Majors for the Future

best business majors for the future

Business is a top choice for a college major. As you look around, you’ll realize that there is an entire industry dedicated to everything we use in our everyday lives. Thriving industries came to be as a product of complex processes that make up the framework of a growing business sector. And for those who want to be a part of it, choosing the right business major matters.

However, business degree holders still experience difficulty standing out from their peers because business graduates generally share the same qualifications. The key is to choose specific fields or concentrations that tackle areas with minimum overlap. A specialized business degree program will give you a competitive edge and make you an indispensable asset in the workplace.

Business-related undergraduate degrees are a great choice. The coursework, which blends business theories with practical applications, draw students who seek to gain skills in leadership and management and an understanding of corporate social responsibility.

Four Elements of a Business Degree

The undergraduate curriculum is always evolving. It adapts to the changing economic and social landscape and accommodates business thinking and methodology advancements. The Business degree curriculum typically focuses on these four elements:

Global Outlook

Maintaining a global outlook is vital to attaining success in business. Globalization compels business professionals to understand and address cross-cultural and socioeconomic situations.

Practical Experience and Application

Practical knowledge and experience are indispensable in modern business. For a business student, experience leads to greater employability. Students are encouraged to grab every chance to gain practical, real-world industry experience to develop their sense of discipline, flexibility, and adaptability and become a valuable asset at work. Internships can make this happen for you.

Intrapersonal Skills

Fresh graduates experience difficulty adjusting to their jobs, and research shows that most, if not all, lack the critical skills for securing success. Your excellent academic standing does not always translate into outstanding performance in the workplace.

Master Entrepreneurial Approach

This business element is all about investing in “social entrepreneurship,” the new business model that many industries are embracing. Mastering this entrepreneurial approach will mold you into an invaluable player in any industry.

A Job Market for Business Majors

The job market is primed for business majors. In 2017, business degree holders ranked third in the most in-demand college graduates, and this trend is projected to grow in the coming years. The business industry provides today’s graduates with a wealth of career opportunities.

With an associate degree, you will be eligible for a trainee position in retail or sales, for example. Other possibilities include a position as a project coordinator or perhaps an office manager or clerical clerk. If you desire a higher ranking position, such as an administrative management role, a bachelor’s degree is typically recommended. Senior positions, such as a CEO or any number of other leadership roles, often require an MBA or doctoral degree in the field of business administration and management.

Whether you chose a business major because of passion or pay, you will find what you are looking for in the diverse employment opportunities in the business sector.

Pay Scale for Business Majors

Pay Scale - business majors

The illustration above shows the percentile of wages for all employees in the business industry. According to the Bureau of Labor Statistics (BLS) workers belonging to the 10th percentile earn $18,870.00, while those in the median percentile earn $36,200.00, and a $90,110.00 salary is given to those in the 90th percentile.

Job Prospects for Business Majors

Your future career does not solely depend on how fat your paycheck is; you should also consider whether or not the job is a good fit for your skills and interests. Here are five specializations that offer are high-paying jobs for Business majors:

  • Business Operations personnel are the key people who take charge of running the business on a day-to-day basis. If you belong in this department, you need to coordinate with the various others within the organization—from Purchasing to Human Resources.
  • Financial Specialists such as financial analysts are proficient in money decisions. In 2018, the median pay for financial analysts was estimated at $85,660 per year.
  • Management personnel takes the lead in making executive-level decisions. Managers become chief executives who earn $189,600 per year.
  • Salespeople drive profitability. As proficient communicators, Business majors make confident sales representatives or sales executives.

Business majors have other job prospects ranging from actuaries to economists, but these positions are usually limited.

Business Majors for the Future

business majors illustration

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While Business graduates enjoy a wealth of employment opportunities, earning a bachelor’s degree with a concentration will give you the edge. According to the National Association of Colleges and Employers business degrees with majors in accounting, finance, and business administration remain to be highly in-demand.

Accounting

accounting

The primary job of accountants is to examine and prepare the business and financial records. A Bachelor of Science in Accounting prepares students for various entry-level careers in the corporate world. You will develop an understanding of the fundamental accounting concepts and principles including tax laws, legal documents, and business operations.

As an integral part of any business organization, accountants often meet with CEOs within the company to make suggestions of where budget cuts are needed or where additional funds should be spent. If you desire to own your own accounting firm, you will meet with clients on a regular basis. You can also expect long work hours during tax season. Earning a Bachelor’s degree in Accounting is an excellent choice.

DEGREE REQUIREMENT:

  • Bachelor of Science Degree in Accounting
  • Certified Public Accountants require Licensure

COURSES OFFERED:

  • Accounting Information Systems
  • Financial Accounting
  • Cost Accounting
  • Fundamentals of Taxes
  • Accounting Ethics

PROJECTED JOB GROWTH:

  • 6% between 2018 – 2028

POTENTIAL JOB OPTIONS:

  • Certified Public Accountant
  • Payroll Manager
  • Auditing Clerk
  • Cost Estimator
  • Tax Examiner

AVERAGE SALARY:

  • $70,500 annually, with the highest 10% earning upwards of $122,840 per year, depending on the position, degree level, job location, and experience

See: Best Online Schools for Bachelor’s of Accounting Programs

Advertising

advertising

With an Advertising degree, you learn the ins and outs of effective communication. Advertising, they say, takes Marketing a step further. It brings passion and creativity into your professional life.

You can increase awareness and elevate consumer perception with a solid background in advertising. People who work in advertising aim to build customer loyalty. Online media is a particularly ripe landscape for advertising majors. You can get a job as an account executive, media planner, or copywriter. Advertising specialists earn a median pay of $106,130 per year.

The University of Pennsylvania offers one of the country’s top Advertising majors. UPenn’s course curriculum promotes a comprehensive understanding of advertising concepts and their applications in a business context.

DEGREE REQUIREMENT:

  • Bachelor’s Degree

COURSES OFFERED:

  • Advertising & Promotions
  • Research & Analytics
  • Consumer Behavior
  • Media & Target Markets
  • Brand Management

PROJECTED JOB GROWTH:

  • Decline by 2% from 2018 to 2028 in the field of print; however, digital media is likely to increase

POTENTIAL JOB OPTIONS:

  • Advertising & Promotions Manager
  • Copywriter
  • Account Manager
  • Public Relations Director

AVERAGE SALARY:

  • $51,740 annually, with the highest 10% earning $114,810 per year, depending on the position, degree level, job location, and experience

Business Management

business management

A degree in business management provides you with a solid understanding of all the critical aspects of doing business. You will gain expertise in accounting, sales, business operations, and organizational leadership. In addition, Human Resource personnel often benefit from a Bachelor of Business Management degree, as well as Executive Managers who oversee facilities, records, business ethics, and operations.

A Bachelor of Business Management degree is one of the most versatile degrees one can earn. In addition, if you decide to choose a specialization, that is certainly an option, too. With your degree, you will be better equipped to take the lead and oversee various departments. Business managers work with a team and supervise daily operations.

The University of Michigan-Ann Arbor is a leading institute offering a degree in business management.

DEGREE REQUIREMENT:

  • Bachelor’s Degree

COURSES OFFERED:

  • Financial Management
  • Communications
  • Business Ethics
  • Computer Applications
  • Organizational Leadership

PROJECTED JOB GROWTH:

  • 7% between 2018 and 2028

POTENTIAL JOB OPTIONS:

  • Human Resources Manager
  • Business Operations Manager
  • Accountant
  • Healthcare Administrator
  • Insurance Underwriter

AVERAGE SALARY:  

  • $104,240 annually, depending on the position, degree level, job location, and experience

See: Top 20 Online Bachelor’s of Business Management (BBA) Degree Programs

Communication Management

Designed to build the real-world leaders of tomorrow, a Communication Management degree molds students into becoming effective leaders. This degree exposes students to, among other things, communication strategies that are essential in business. Without a doubt, a degree in Communications can be a key component to a successful career in the field of business as effective written and oral skills, as well as listening skills, are mandatory.

An effective leader can communicate effectively and relay knowledge and ideas with confidence. You must encourage enthusiasm, provide motivation, and create a reward system that works. It’s little wonder why Communication Management is an attractive choice for business enthusiasts.

DEGREE REQUIREMENT:

  • Bachelor’s Degree

COURSES OFFERED:

  • Business Communications
  • Public Relations
  • Technical Writing
  • Communications Ethics
  • Speech Communication
PROJECTED JOB GROWTH:
  • 4% – 8% between 2018 and 2028

POTENTIAL JOB OPTIONS:

  • Public Relations Specialist
  • Business Manager
  • Event/Meeting Planner
  • Journalist
  • Sales Representative

AVERAGE SALARY:

  • $57,530 – $114,840 annually, depending on the position, degree level, job location, and experience

Economics

Choosing Economics as a college major will prepare you for the rigorous demands of economic discourse. You will gain the required toolkit for critical thinking that is focused on the economy and economic policy. With an eye for economic trends, you can instruct your clients or employer on the best financial decisions for them.

Economists analyze data using computer software, statistics, as well as reports, market trends, and charts. Their services can be utilized in any type of industry, such as in healthcare, government agencies, education, along with many other facilities, such as factories and large corporations.

Some of the best schools in the country are currently offering this major and include Harvard University, MIT, Princeton, Sandford, and UC Berkeley.

DEGREE REQUIREMENT:

  • Bachelor’s Degree for entry-level positions
  • Master’s or Ph.D. for advanced positions

COURSES OFFERED:

  • Micro & Macroeconomics
  • Statistics
  • Management Information Systems
  • Business Communications
  • Econometrics

PROJECTED JOB GROWTH:

  • 8% between 2018 – 2028

POTENTIAL JOB OPTIONS:

  • Budget Analyst
  • Contract Specialist
  • Economist
  • Market Research Analyst
  • Political Scientist

AVERAGE SALARY:

  • $104,340 annually, with the highest 10% earning upwards of $182,560 per year, depending on the position, degree level, job location, and experience

eCommerce

e-commerce

eCommerce is a rapidly growing, innovative industry that embraces modern business systems. It is a business model that operates in all major market segments – business-to-business, business-to-consumer, and consumer-to-business.

Students who specialize in the study of eCommerce are prepared for the complexities of business and management information systems. Graduates with a degree in eCommerce are suited for a career that involves customer service, marketing, and advertising, developing store websites, and many others.

As online shopping increases day by day, strategies for a smooth shopping experience are constantly changing and require qualified personnel to implement marketing plans, as well as train employees for exceptional customer service practices.

Visit Capella University’s Online Business Programs or Walden University’s Undergraduate Programs to explore your options.

DEGREE REQUIREMENT:

  • Associate Degree for entry-level
  • Bachelor’s for Management positions

COURSES OFFERED:

  • eCommerce Strategy
  • Management Information Systems
  • eCommerce Marketing & Advertising
  • eCommerce Laws & Ethics
  • Venture Capital & Entrepreneurship

PROJECTED JOB GROWTH:

  • Positive growth expected through 2026, due to an increase in electronic shopping

POTENTIAL JOB OPTIONS:

  • General Operations Manager
  • Market Research Analyst
  • Customer Service Representatives
  • Web Developers
  • eCommerce Project Manager

AVERAGE SALARY: 

  • $49,109  – $82,800 annually, depending on the position, degree level, job location, and experience

Entrepreneurship

Entrepreneurship students gain insights into key decision-making processes in business. This major equips you with the necessary skills to lead your daily business operations. With a background in marketing, finance, public relations, and human resources, you have a unique, competitive advantage over your peers.

Entrepreneurship majors can climb the corporate ladder and become the CEO of a company or even their own business. Honing your business skills will be the key to operating a successful business. In addition, with a valid education backing you up, creditors are more likely to help fund your start-up costs.

DEGREE REQUIREMENT:

  • Bachelor’s Degree

COURSES OFFERED:

  • Business Administration
  • Human Resources
  • Accounting & Financial Planning
  • Marketing & Advertising
  • Communications

PROJECTED JOB GROWTH:

  • 9% – 12% between 2018 – 2028

POTENTIAL JOB OPTIONS:

  • Business Manager or Administrator
  • Small Business Owner
  • Operations Manager
  • Construction Manager
  • Healthcare Management

AVERAGE SALARY:

  • Varies greatly depending on the position, degree level, job location, experience, and particularly, the type of product or services offered; however, the average salary for a small business owner typically ranges from between $30,104 to upwards of $182,229 annually

See: Best Online Schools for Bachelor’s in Entrepreneurship

Finance

Finance majors work in banks, investment firms, and insurance companies. Students learn a broad range of concepts that mold them into becoming skilled financial analysts with a solid background in economics, statistics, and risk management.

Majoring in finance typically leads to a career based in a business-related topic, such as needed when managing money, either for a company or for an individual client.  A degree in finance will enable you to engage in a client-centric work environment and excel in your field. The University of Pennsylvania is a top-rated institution offering this major.

DEGREE REQUIREMENT:

  • Bachelor’s Degree for entry-level positions
  • Master’s Degree for senior positions
  • Certification or Licensure is often required

COURSES OFFERED:

  • Financial & Managerial Accounting
  • Economics
  • Risk Management
  • Business Administration
  • Commercial Banking

PROJECTED JOB GROWTH:

  • 6% between 2018 – 2028

POTENTIAL JOB OPTIONS:

  • Financial Analyst
  • Personal Financial Advisor
  • Budget Analyst
  • Insurance Underwriter
  • Securities & Commodities Agent

AVERAGE SALARY:

  • $85,660 annually, with the highest 10% earning upwards of $167,420 per year, depending on the position, degree level, job location, and experience

See: Best 5 Online MBA Concentration in Finance Degree Programs

Healthcare Management

It takes business acumen to run an entire healthcare facility. It can be tricky to strike a balance between providing effective healthcare services and ensuring profitability. Students of Healthcare Management are taught the strategies to meet the demands of the growing healthcare industry. They acquire the skills needed to apply proven management strategies to address issues.

If you are interested in the healthcare field, but not interested in one-on-one patient care, such as needed in the field of nursing, a degree in Healthcare Management is for you. Graduates with this degree also commonly focus on healthcare policy and facility management.

The University of Michigan – Ann Arbor is a top-ranked school offering a Health Care Management degree.

DEGREE REQUIREMENT:

  • Bachelor’s Degree for entry-level positions
  • Master’s Degree for senior positions

COURSES OFFERED:

  • Health Administration & Management
  • Health Information Systems
  • Accounting & Budgeting
  • Strategic Planning
  • Human Resource Administration

PROJECTED JOB GROWTH:

  • 18% between 2018 – 2028

POTENTIAL JOB OPTIONS:

  • Health Services Manager
  • Medical Director
  • Patient Care Associate
  • Healthcare Facilities Manager
  • Registered Nurse

AVERAGE SALARY:

  • $99,730 annually, with highest 10% earning $182,600 per year, depending on the position, degree level, job location, and experience

Human Resources

human resources

Human Resource Managers are vital to any business. The position centers on people, the ones who commit their time and energy to the organization. The HR department takes charge of labor relations, workforce motivation, organizational behavior, and employee selection.

With a degree in Human Resources, you will identify and secure top talents to become part of the company. Without a doubt, you will put your leadership and interpersonal skills to the test as you hire and fire employees, answer to top executives, and organize work schedules.

DEGREE REQUIREMENT:

  • Bachelor’s Degree for entry-level positions
  • Master’s Degree may be required for Management positions
  • Certifications may be required

COURSES OFFERED:

  • Human Resources Manager
  • Accounting & Finance
  • Organizational Psychology
  • Business Administration
  • Communications

PROJECTED JOB GROWTH:

  • 5% between 2018 – 2028

POTENTIAL JOB OPTIONS:

  • Human Resources Manager
  • Public Relations Specialist
  • Training & Development Specialist
  • Compensation & Benefits Manager
  • Business Administrator

AVERAGE SALARY:

  • $113,300 annually, with the highest 10% earning upwards of $201,380 per year, depending on the position, degree level, job location, and experience

See: Best Online Schools for Bachelor’s in Human Resources

International Business

international business

International business degrees are often awarded as a Business Administration degree with a concentration in International Business. With an emphasis on cross-cultural collaboration, an International Business degree lays out the fundamental concepts for running businesses on a global scale. You should expect to be proficient in business ethics, global commerce, and international markets.

Through international business techniques, foreign markets and global competition allow for a variety of goods, in addition to all types of services. In this capacity, you will be trained to promote international trade. Proficiency in a foreign language is recommended.

DEGREE REQUIREMENT:

  • Bachelor of Science in International Business (BSIB) or Bachelor of Science in Business Administration (BSBA)

COURSES OFFERED:

  • International Trade Policies & Practices
  • Organizational Leadership
  • Accounting & Finance
  • Psychology
  • Information Technology

PROJECTED JOB GROWTH:

  • 7% – 14% between 2018 – 2028, depending on career choice

POTENTIAL JOB OPTIONS:

  • International Business Management Analyst
  • Business Development Specialist
  • Logistician
  • Marketing Manager
  • Banking Manager

AVERAGE SALARY:

  • Salaries within this field vary greatly, depending on the position, degree level, job location, and experience; however, the average pay for a Logistician is $74,600 annually. A Management Analyst earns approximately $83,610 per year.

Marketing

Marketing - business majors

Marketing is a well-known industry and an essential ingredient for business success. As a Marketing major, you will learn about attracting and retaining customers by addressing and satisfying their needs (or wants).

A major in Marketing lets you focus on the fundamentals of market research and communication. Plus, you will have an excellent grasp of marketing strategies for increased sales and customer retention.

DEGREE REQUIREMENT:

  • Bachelor’s Degree

COURSES OFFERED:

  • Business Law & Ethics
  • Economics
  • Statistics
  • Digital Media
  • Business Management

PROJECTED JOB GROWTH:

  • 8% between 2018 – 2028

POTENTIAL JOB OPTIONS:

  • Marketing Manager
  • Advertising & Promotions Manager
  • Public Relations Manager
  • Art Directors/Graphic Designer
  • Sales Manager

AVERAGE SALARY:

  • $117,130 annually, with the highest 10% earned upwards of $208,000 per year, depending on the position, degree level, job location, and experience

See: Best Online Schools For Bachelor of Science in Marketing Programs

Organizational Leadership and Management

organizational leadership and management

Organizational Management is a management style that encourages managers to supervise employees in smaller segments or departments. Organizational Leadership with Management as a major emphasizes not only communication skills but also emotional intelligence. The knowledge learned in this type of degree program can be applied in a variety of career choices.

In a position in Organizational Leadership and Management, individuals are tasked with knowing the psychology behind the interaction between employees, as well as what motivates them to work. The Organizational Leader must be an encourager and cheerleader in the workplace as they lend a personal approach to business management.

DEGREE REQUIREMENT:

  • Bachelor’s Degree for entry-level positions
  • Master’s degree for advanced positions
  • Certifications may be required

COURSES OFFERED:

  • Leadership Communication
  • Recruiting & Hiring
  • Conflict Management
  • Business & Ethics Law
  • Human Resources Management

PROJECTED JOB GROWTH:

  • 8% between 2018 – 2028

POTENTIAL JOB OPTIONS:

  • Training & Development Manager
  • Human Resources Manager
  • Labor Relations Specialist
  • Compensation & Benefits Analyst
  • Operations Manager

AVERAGE SALARY:

  • $111,340 annually, with highest 10% earning upwards of $192,970, depending on the position, degree level, job location, and experience

Public Relations

public relations

Public Relations (PR) people speak on behalf of their organization. As a PR specialist, you will represent your company and help it maintain an impeccable reputation. For example, majoring in PR could land you the Public Relations Specialist job, who is expected to be an expert in strategic communication, event planning, and coordination. You can expect to be involved in community activities and create or maintain a positive public image for the business you represent. 

In public relations, you will work with many types of media, as well as all types of consumers. You will help to establish good relations between your company and its consumers. Handling customer complaints directly will also be a part of your job description. You will need to have excellent writing skills to construct press releases, contact reporters, and be proficient in all social media outlets. Public speaking engagements and speech writing are often required.

DEGREE REQUIREMENT:

  • Bachelor’s Degree for entry-level positions
  • Master’s degree for advancement

COURSES OFFERED:

  • Public Speaking
  • Media Writing/Journalism
  • Principles of Marketing
  • Communications
  • Consumer Behavior

PROJECTED JOB GROWTH:

  • 6% between 2018 – 2028

POTENTIAL JOB OPTIONS:

  • Public Relations Specialist
  • Editor
  • Fundraising Specialist
  • Advertising, Promotions & Marketing Manager
  • Event & Meeting Planner

AVERAGE SALARY:

  • $60,000 annually, with the highest 10% earning upwards of $112,310, depending on the position, degree level, job location, and experience

See:  Best Online Schools for Master’s in Public Relations

Supply Chain Management

Supply Chain Management (SCM) majors oversee the business’ supply chain processes. A degree in SCM trains graduates in the areas of logistics, product development, sourcing, and production. As a logistician, you are focused on achieving a systematic delivery of products and services.

Managing the entire lifecycle of products until it reaches the customer is a crucial endeavor. As the process involves many avenues, you can choose to work for a parts supplier, retailer, transportation service, a manufacturer, or a consulting firm in this field. In a management position, you will be responsible for making sure a product or service is delivered in the most cost-effective manner possible.

Earn a degree in Supply Chain Management from Michigan State University or from Arizona State University to get a solid background from the top SCM programs available in the US.

DEGREE REQUIREMENT:

  • Bachelor’s Degree

COURSES OFFERED:

  • Organizational Behavior
  • Internet Marketing
  • Logistics Management
  • Enterprise Resource Planning
  • Strategic Decision Making

PROJECTED JOB GROWTH:

  • 5% between 2018 – 2028

POTENTIAL JOB OPTIONS:

  • Logistician
  • Cost Estimator
  • Purchasing Manager
  • Management Analyst
  • Industrial Engineer

AVERAGE SALARY:

  • $74,600 annually, with the highest 10% earning upwards of $119,950, depending on the position, degree level, job location, and experience

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