What Do You Learn as a Business Major in College?
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Business degrees are some of the most common and popular options for students at universities across the country. Business majors learn various skills that form the backbone of several different career paths ranging from sales and marketing to human resources and consulting.
Business is a popular field for many college students. Among postsecondary institutions in the United States, nearly 350,000 students attained business degrees each year between 2010 and 2020. This eclipses many other higher learning programs at the undergraduate and graduate levels.
Prospective students seeking career opportunities after graduation may lean toward business as a staple of college education, but what good is a business degree? And more importantly, what do business majors study as part of their curriculum?
We explore the benefits of pursuing a business degree, from the skills and knowledge students learn to the career options available as part of their postgraduate life. The information below serves as a jumping-off point for new students unsure of what to study and those working professionals who may want to pursue a business major as part of a career change.
What Is a Business Degree?
The term “business degree” is often a blanket term that describes several different majors, all of which are related to economics or business. These majors prepare students to work in various settings in the private, nonprofit and even government sectors. Because of this wide range of work environments, business programs attract people with a diverse array of interests and career aspirations.?
Common business majors include:
Each degree path has unique requirements and offers different benefits. Students who are unsure where to focus should speak with their academic advisor for more information.
Common Courses for Business Majors
Regardless of their focus, business majors end up taking several different types of courses that deal with aspects of the field. Depending on their specialization, business students will focus on a subset of courses within their area. Accounting majors will take more accounting classes, whereas marketing students may focus more on communication and sales courses.?
That said, most business schools have prerequisite courses for all majors. Core classes for these students can include:
In addition to classroom work that includes upper-level classes in their third or fourth year, many business students can expect to take an internship or work-study program during the summer or even in conjunction with their coursework. Internships offer students the opportunity to put those learned skills into practice and gain hands-on experience in their field. In many cases, it is a prerequisite for many jobs to have at least one internship on a resume .
Skills and Experience in Business Degree Programs
What kind of skills and experience do business degree holders obtain? In addition to the hard skills that relate specifically to running or working for a thriving organization — things like accounting, marketing, and management — business majors often develop soft skills that facilitate communication.?
According to Southern New Hampshire University , business degrees are “particularly good for creating a focus on profitability, people management and the planet.” Business majors can commonly expect to thrive by developing in the following areas:
What Kinds of Business Degrees Are Available?
Specializations are not the only thing to consider when pursuing a business degree. Business students must also consider their goals and what level of education they need to reach. Most four-year universities offer business degrees, while smaller schools like community colleges can offer two-year programs for business majors. And for budding professionals who want to pursue a long career, advanced graduate degrees can facilitate high earnings.
Associate Degree in Business
Most associate degrees introduce students to core business fields, including finance, HR, accounting and marketing. The program usually offers foundational coursework to explore critical principles like marketing, laws and regulations. Associate degrees typically take two years to complete, allowing their earners to find jobs as financial clerks or bookkeepers, among other roles.
A common path for associate degree holders is to transfer to four-year schools to finish up a bachelor’s in business administration. Most business careers require a bachelor’s degree, but an associate degree from a reputable two-year school can be an affordable way to start down that path.
Bachelor’s Degree in Business
Bachelor’s degrees in business open a more comprehensive career path than an associate degree, but they take longer to obtain. Students with bachelor’s degrees tend to focus on business management or entrepreneurship, among other specialties. Most bachelor’s degrees satisfy the minimum requirement for entry-level jobs.
In addition to the distinction between administration and entrepreneurship, bachelor’s degrees also separate into three categories:
Master’s Degree in Business
Master’s degree holders learn advanced business practices and techniques. Enrollees might obtain a master’s in management for focused training or their Master of Business Administration (MBA) . MBAs normally take two years to complete.
MBA students often specialize in project management, finance or international business. They tend to work as managers in large organizations or even as C-suite executives .
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Potential Business Degree Career Paths
Deciding what kind of degree to pursue and specialty to major in is just the first of many steps in a long, rewarding business career. Business degree holders take various roles in organizations and can pursue several different paths.?
Financial Analyst
Financial analysts guide businesses toward decisions that help maximize profits. They often consult on investments, trends, and a company or individual’s strengths. Most financial analysts have a bachelor’s degree and obtain a license to sell securities. The median salary for financial analysts is $95,570 per year.
Management Consultant
Management consultants help organizations solve issues and maximize growth to improve a business’s performance. They gather data and insights about their clients through interviews and research. A management consultant can work with various companies that are either successful or floundering. Management consultants can earn anywhere from $65,000 when starting at a mid-tier firm to six-figure salaries for corporate giants like McKinsey.
Market Research Analyst
A market research analyst is responsible for studying consumer preferences and external business conditions. They use this information to make recommendations about products or services. Market research analysts earn a median salary of $63,920 and generally require a bachelor’s degree.
Training and Development Specialist
Most companies have a training and development specialist on staff. This person plans and administers programs that have wide-reaching implications for the organization. They need strong communication skills. According to the Bureau of Labor Statistics, the training and development specialist’s median salary is $61,570. The job outlook is positive, too, which makes this an attractive option for recent graduates.
Information Security Analyst
Information security analysts usually have a bachelor’s degree in computer science, but business coursework can make this a realistic career option. They do vital work to plan security measures for organizations’ computer networks and systems. This is a high-paying job, with a median salary of over $100,000 per year.
Fundraiser
Fundraisers fulfill all kinds of roles in non-profits and start-ups, but their primary purpose is to network and make connections that help raise money for causes and organizations. They plan events and campaigns to help meet funding goals. Fundraisers typically earn a median salary of $60,660 and usually need a bachelor’s degree and strong organizational skills.
Human Resources (HR) Specialist
As mentioned above, HR specialists ensure an organization complies with regulations and laws governing workplace relations. They also focus on recruiting and screening job applicants. Most HR specialists have a bachelor’s degree. The median salary for this role is $62,290.
Marketing Manager
Marketing managers plan campaigns and programs to generate interest in products or services. They can work in various types of companies, from small businesses to large corporations. Many marketing management roles require a bachelor’s degree in marketing, sales, advertising or business. The median salary for this role is $133,380.
Loan Officer
Loan officers evaluate loan applications and decide to approve or deny them based on risk factors. They commonly work for financial institutions like banks but can also handle applications for auto dealers or credit bureaus. Loan officers need a bachelor’s degree and hands-on experience. Mortgage loan officers must have a license to do their job. According to the Bureau for Labor Statistics, the median pay for this job is $63,380 per year.
Sales Representative
Sales representatives network to sell products or services to prospective clients and customers. Their job often requires them to contact several people daily via phone, email or other means. They set appointments for demonstrations and sales meetings. Sales representatives earn money on commission, salary or a combination of both. The median pay for this role varies based on industry and can range from $27,260 for retail jobs to $103,710 for sales engineers.
Business Intelligence Analyst
A business intelligence analyst reviews data to support the organization’s goals. They recommend practices and strategies with an eye toward growth and improvement. The median compensation for business intelligence analysts is $85,000, although that can vary based on industry and location.
Is a Business Degree Right for You?
Business degrees are popular, and the career opportunities for those with them are nearly limitless, but they may not be an excellent fit for everyone. Pursuing a business major takes hard work and often involves long hours of studying. But those who stay the course, will find no shortage of career opportunities or people willing to hire them.
Deciding on a Business Degree Program
The best way to find a business degree program is to consider which specialization the applicant finds most interesting or exciting. Many four-year schools offer robust business programs due to their popularity. Common factors include accreditation, candidate placement after graduation, and high rankings among professional organizations. The right business program offers a combination of knowledgeable faculty, excellent networking potential and a campus experience that fosters community.
Top Takeaways
What Do You Learn as a Business Major in College?
(Reporting by NPD)