Similar to choosing a spouse, deciding on an area of study can seem complex.
After all, both require careful consideration. Both need time and effort to come to fruition. And, no matter where you go in life, both will be there to support you.
So when asking yourself whether or not you should major in business, there are five main factors to consider that might ultimately help you say “yes” to a business degree.
Factor 1: Educational Requirements
Over the past year, 70 percent of online job postings related to business and/or management required a Bachelor’s degree.*
First things first, when majoring in business you should know which level of education to pursue that will provide you with most career opportunities.
Earning a degree is a great first step in helping you develop the expertise that employers are requiring for future leaders and managers.
Say “yes” to majoring in business will help you to take advantage of the large amount of employment opportunities that you’ll have waiting for you.
Factor 2: Employment Opportunities
As you earn your degree you will develop a variety of skills that can be applied to jobs in almost any industry.
The following industries advertised the most business job opportunities over the past year with common job titles:
- Manufacturing (e.g., account executive, account manager, sales representative.)
- Professional, scientific and technical services (e.g., business analyst, project manager, marketing analyst)
- Health care and social assistance (e.g., practice manager, business analyst, account executive)
- Finance and insurance (e.g., business analyst, underwriter, mortgage loan officer)
- Public administration (e.g., management analyst, business analyst, human resources manager)
- Education services (e.g., business analyst, administrative assistant, director of admissions)
- Information (e.g., account executive, account manager, business analyst)
- Retail trade (e.g., store manager, business analyst, assistant store manager)
- Administrative (e.g., inventory manager, business analyst, account manager)
- Wholesale trade (e.g., buyer, account executive, account manager)
Overall, these ten industries provided more than 85% of the employment opportunities available to business professionals.* This type of flexibility in employment opportunities is something not many college majors can boast.
Say “yes” to majoring in business because it enables you to find the best fit for your interests and skills.
Factor 3: Required Skills
There are many different skills employers look for in business professionals. An analysis of more than 275,000 online job postings identified the following as the most common business skills employers are looking for in new employees*:
- Business Administration – Managing business operations including decision-making.
- Sales – Influencing the sale of goods or services for an amount of money.
- Business Process – Understanding how operations work together to produce a product or service.
- Business Development – Developing and implementing business growth strategies.
- Accounting – Keeping, maintaining and analyzing financial records.
These were the top five skills listed over the past year by employers looking for business degree graduates. Now is a good time to take a quick personal inventory. Do you possess these skills? If you have been considering a career in business, chances are that you do.
Say “yes” to majoring in business so you can begin focusing your efforts on developing many of the skills you already have and learning news ones that will help you prepare for a successful career.
Factor 4: Growth Potential
An anaylsis of more than 120,000 jobs for business majors found that 60% of job openings are looking for candidates with more than four years of business experience.*
There are several different jobs available for those holding a business degree – some may interest you and others may not. But by knowing which positions are in demand and available to business professionals, you can better begin to target your desired career path and start gaining experience.
Say “yes” to majoring in business to gain experience that can be applied toward your future. Remember, more experience often means more opportunities for career advancement and a higher salary.
Factor 5: Potential Salaries
Regardless of which industry you choose, the thought of earning a rewarding salary is probably a factor in choosing your career.
The chart below illustrates the most in-demand jobs for those holding a business degree. The salaries shown represent the amount of money earned by the lower tenth percentile of workers in that particular field, according to salary.com. To learn more about the salary potential for experienced business professionals, check out the Salary Wizard tool.
Say “yes” to majoring in business to take advantage of the strong salary potential within this career field.
So as you prepare for what could be the biggest commitment of your life, these five factors should help you decide that business can be the right path for you. Just ask yourself one more time, should I major in business? If the answer is “yes,” then download this business career guide to learn more about planning your future in the business world.
But if you are still wondering, don’t give up. Keep learning about the different career fields out there and you’ll make the right decision soon.
*Source: BurningGlass.com (Analysis of Business Related Job Postings Education Requirements, 3/19/12 - 3/18/13)
*Source: BurningGlass.com (Analysis of Business Related Job Distribution by Industry Sector, 3/19/12 - 3/18/13)
*Source: BurningGlass.com (Analysis of Top Business Related Job Skills, 3/19/12 - 3/18/13)
*Source: BurningGlass.com (Analysis of Business Related Job Openings by Experience, 3/19/12 - 3/18/13)