A business degree is one of the most sought-after certifications at any institution of higher education. Yet the question remains; what jobs can you do with a business degree?
There are many jobs that one who has a business degree can do. With a business major, you can assess the financial implications of decisions, quantify a piece of data and back up your arguments with numbers.
However, you can refine your job search by learning more about the business roles in each industry and understanding your goals. This article will help guide you on what job decision you’ll take after now.
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What is a Business Degree?
A business degree teaches financial, marketing, management, and administration ideas, just as how to apply these speculations to true circumstances, to prepare students for the fast-paced, ever-changing business world.
There are many business degree specializations available at the bachelor’s level. Among the possibilities are:
- Accounting
- Finance
- Human Resources
- Healthcare Management
- International Business
- Entrepreneurship
- Marketing
- Public Administration
- Healthcare Administration/Management
Students in these programs study expansive industry best practices and specialized knowledge in areas such as medical services measures and sustainable power innovation.
However, if you want to work in a higher-level leadership position, you’ll probably require a master’s degree, if not a Ph.D. Gaining an advanced degree later on in your career can conceivably bring about a raise in your current remuneration.
Why Get a Business Degree?
Adding a business degree to your resume will almost certainly result in higher pay, whether you are a recent graduate or a seasoned professional.
According to a university study reported by Forbes; ‘A college graduate will earn $1 million more than a high school graduate; getting a law, business, or other professional degree adds another $1.3 million to that sum.
However, that’s not the only reason to earn a business degree. In so many other ways, it can boost your career performance by allowing you to;
- Earn a promotion by leveling up
- Build a network with a group of people who share your interests
- Set goals for salary increase and meet them
- Develop abilities for a different job in your field
- Improve the quality of your current job performance
- Transition to a new job
- Improve your leadership skills for your company
Is Obtaining a Business Degree Worth it?
A business degree can be a game-changer for working professionals who wish to develop their careers in business. It can improve your work prospects, provide opportunities for growth, and raise your compensation and lifetime earnings.
Investing in your career by earning a business degree is one that will pay off now and in the future.
Jobs You can do with a Business Degree
If you are searching for ground-breaking degree opportunities out there, here are the top 10 developing professions and degree programs that can help you plan for them.
It is expedient to note that these jobs are in no particular order.
#1. Accountant
With a business degree, you can become an accountant. Becoming one puts you in a place where you assist organizations to fund their operations, abide by government regulations, keep funds aside and maximize their profits.
You can use your college-level financial knowledge to make informed decisions about an organization’s resources. Your level of expertise and communication will allow investors to make sound investment decisions.
Moreso, you will be concerned with auditing and providing tax planning services and move on to the leadership cadre within the finance division of client organizations.
How much does an Account Earn with a Business Degree?
The average annual income for accountants in May 2019 was about $71, 550. This is according to the Bureau of Labor Statistics. The lowest 10% earned less than $44,480 while the top ten percent made over $124, 450.1.
What is the Job Outlook?
We expect the job outlook for accountants and auditors to grow by 4% between 2019 and 2029, which is roughly the same as the average for all occupations.
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#2. Financial Analyst
Financial analysts capitalize on the strengths and weaknesses of businesses to evaluate investment opportunities for clients or their parent companies. The financial statement is yours to interpret.
As part of what a business degree entails, you will enjoy the benefit of accounting, finance, economics, and mathematics coursework.
How much does a Financial Analyst Earn?
According to the Bureau of Labor Statistics, the median annual salary for financial analysts was $81,590 in May 2019. The bottom ten percent made less than $47,230, while the top ten percent made more than $156,150.
What is the Job Outlook for a Financial Analyst?
We expect the employment rate for financial analysts to grow by 5% between 2019 and 2029. It is faster than the average for all occupations.
#3. Actuary
Working as an actuary can help you become a key player in the insurance sector. You would estimate the likelihood of risky occurrences and determine whether the insurance companies will be liable to pay claims.
With a business degree, you will conduct your analysis using spreadsheets, databases, and statistical software. Furthermore, you must have strong writing, presentation, and persuasive skills to scale at being an actuary.
How much does an Actuary Earn?
The average salary for an actuary in May 2019 was $108, 350. The lowest 10% earned less than $64,860 and the highest 10% earned more than $193, 600.
What is the job Outlook for an Actuary?
Actuaries’ employment is expected to expand by 18 percent between 2019 and 2029, far faster than the average for all occupations.
#4. Human Resource Specialist
As a human resource specialist, you will work with the human element of the organization where you may be in charge of recruiting, interviewing, hiring, and onboarding new employees.
You will be in charge of settling employee conflicts and facilitating training for employees. All these are, however, dependent on the size of the team you are to oversee.
Skills you should possess as a human resource specialist include; excellent communication and interpersonal skills, analysis and presentation capabilities, and background knowledge of businesses.
The average salary is also promising at the sum of $51, 512 annually.
#5. Project Manager
If you’ve ever worked on a major project with multiple stakeholders, you’ll appreciate the value of project managers. As one, you’ll ensure the smooth running of a project including meeting up deadlines and goals.
You will work with the owners of the project to set requirements, track progress, and allocate roles and duties to the team members.
Project managers go a long way to see that everyone involved in an ongoing project is working hard toward achieving the set goal.
#6. College Admissions Representative
If you are interested in working in a college environment, your business degree can get you a position with the admissions office.
Your job role as a college admission representative includes the creation of marketing plans to advertise the college strategically and increase the number of applicants.
Because a college admissions position is essentially a sales position for a college, someone with a business degree and a sound background knowledge in sales and marketing is likely to succeed in this field.
According to Glassdoor, admissions representatives earn an average salary of $43,088.
#7. Business Teacher
A business degree holder who fulfills the teacher education requirements can teach students about the business world. To perform this effectively, strong verbal communication and interpersonal skills are important.
To be a successful teacher, you must plan and offer engaging lessons. The average salary according to BLS, is $61, 660.
We expect the job outlook for business teachers to grow by 4% from 2019 to 2029.
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#8. Insurance Underwriters
Ibrahim-Taney posits that ‘every business and building you come across has to be insured’. Before that can happen, it will need the services of an insurance underwriter to evaluate the business’ worth.
Insurance underwriters decide the exact amount to insure a property or business and how much they charge should be.
However, depending on the size of the company you work for, you will need to interact with insurance agencies to make it big as an insurance underwriter.
Social media managers are people who create strategic plans, assist with content development, and track the engagements of their online efforts.
With a business degree, you can put your knowledge of technological expertise to good use by managing a company’s social media presence. It is important to note that you must be a team player.
As a social media manager, you will make an average of $51, 433 annually. This is according to PayScale.
#10. Loan Officer
Your basic duty as a loan officer will include determining if a financial institution should give a loan to an individual or a business. You will examine applications and ensure the financial data is accurate.
Also, there will be a need for you to walk the applicant through the entire process so that they are aware of all the rules and regulations. Do you wonder which organization has such vacancies?
Your place of employment lies within financial institutions as most of them require a bachelor’s degree. However, you must receive a license as a mortgage loan originator.
Conclusion
Having a business degree can lead you in the work environment with information acquired in fundamental courses like marketing, management, human resources, and accounting.
By contemplating business strategies in different institutions, your business degree will give you a worldwide viewpoint and an awareness of the worth of variety.
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