Which of the many types of business degrees is right for you? Find out here!
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A business degree can be a wonderful educational path that may lead to many different career opportunities. However, before deciding to pursue a business degree, it is important to become aware that there are various business degrees to choose from.
Types of Business Degrees
These are the best business majors for the future based on salary and projected job growth by the Bureau of Labor Statistics. Click on the one you’re most interested in to jump to that part of the guide.
- Accounting
- Business Administration
- Data Analytics
- Economics
- Entrepreneurship
- Finance
- Forensic Accounting
- Healthcare Management
- Hospitality Management
- Human Resources
- International Business
- Internet Marketing
- Management
- Marketing
- Nonprofit Management
- Operations Management
- Organizational Leadership
- Project Management
- Public Administration
- Public Relations
- Public Safety Administration
- Retail and Sales Management
- Small Business
- Sports Management
- Supply Chain and Logistics
You should choose a business degree online, or on-campus, that matches your career goals, interests, and educational goals.
Accounting
A person that chooses to study accounting can pursue a job as an office manager, financial analyst, finance manager, accountant, and more. The average annual salary is $71,550, and the job growth is predicted to be around 4%.
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Most people who study accounting learn about auditing, reporting, accounting principles, and information systems used for accounting. Accounting is often best suited for individuals that are detail-oriented and possess strong mathematical skills.
Business Administration
If you plan to earn a degree in business administration, you may begin a career as a project manager, human resources manager, business analyst, or office manager. The typical annual salary that a person with a business administration degree may earn is $73,570 as a project management specialist, and the projected job growth for this occupation is 6% over the next decade.
Students of this program may learn about all subjects dealing with business. For example, you may gain knowledge and skills in advertising, accounting, sales, and information systems.
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Business Administration is often suitable for individuals interested in learning about various parts of business and working in different areas of the business field. However, you may be able to choose a specialization or concentration to specifically focus on.
Data Analytics
This is a program that uses data heavily to influence business decisions and help companies succeed. Some of the job titles you may hold with this degree are data scientist, analytics manager, data engineer, software engineer, or data analyst.
A person with a degree in data analytics can expect may make an average yearly salary of around $94,280 as a data scientist, and this position is expected to grow 31% over the next ten years.
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If you are part of this program, you may learn how to analyze and research data to predict the future positive opportunities and negative risks that may arise for businesses and organizations. A degree in data analytics may be perfect for a person who possesses problem-solving skills, analytical skills, visualization skills, and computer savvy skills.
Economics
A degree program in economics may lead you down various career paths, such as financial analyst, business consultant, actuary, or market research analyst. If you decide to pursue this degree program, you may make an average income of $81,590 each year.
Additionally, the predicted job growth for careers in finance is estimated to be 6% over the next ten years. By choosing this specific degree, you may learn the necessary information about microeconomics, macroeconomics, research, competition, and pricing.
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This program may be most valuable to a person who enjoys mathematics, researching, analyzing, making predictions, and dealing with large amounts of data.
Entrepreneurship
This degree may be an excellent choice for those interested in starting their own business. It can lead to a variety of job titles, such as marketing manager, project manager, account manager, operations manager, account executive, or founder and president.
The average annual salary that a person with a degree in entrepreneurship generally makes is $73,570, and the projected job growth is around 6%.
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Individuals studying entrepreneurship can expect to learn how to create a business plan, determine their budget, market their business, and find the resources needed to make their business run successfully.
The entrepreneurship degree is mainly beneficial for individuals that plan to start their own company or desire to help others start their own company.
Finance
This may be a great degree choice for individuals intrigued by dealing with money. The common career paths involving a finance degree are financial analyst, banker, financial advisor, and actuary.
If you decide finance is the best major for you, you may make an average income of $81,590 each year, and the field is expected to grow by about 5% over the next ten years.
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The essential aspects of finance that you can plan on learning are financial reporting, analysis, planning, and managing risks that may arise. A degree in finance can be an important asset for those that enjoy using mathematics and helping clients and organizations with their finances and budgets.
Forensic Accounting
Individuals in a forensic accounting degree program may pursue careers as fraud examiners, forensic accountants, fraud investigators, and more. The average annual salary that people with this degree earn is $74,260, and the field is projected to grow by 4% or more in the next few years.
If you are interested in forensic accounting, you can plan on learning how to analyze and investigate different types of fraud, such as bankruptcy, major fraud cases, capital crimes, and even divorces.
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This may be a great degree program for those that want to make a career out of using accounting skills along with auditing and investigating. In addition, analyzing and interpreting evidence is a major duty of this field, and you may even be required to participate in court cases.
Healthcare Management
As a graduate of a healthcare management program, you may earn different job titles such as clinical director, health and social services manager, patient care coordinator, medical practice manager, office manager, or medical records manager.
The average amount of income with this degree that you may make is $86,820, and the jobs available are projected to grow by a tremendous amount of 31% over the next five years.
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The healthcare management program is designed to provide students with the knowledge of how to run and manage healthcare facilities. If you are an individual that is interested in learning about the healthcare field and how to manage a healthcare center, this degree may be ideal for you.
Hospitality Management
This degree is designed to prepare students for careers as restaurant managers, event coordinators, hotel managers, event managers, assistant managers, and more.
The average annual salary graduates of this program may earn is $50,600, and the management roles for food services and lodging is projected to grow by 6-9% in a short amount of time.
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In this field, you may learn how to manage restaurants, hotels, special events, and other facilities in the hospitality sector. If you are interested in opening your own restaurant or running someone else’s restaurant or another type of facility dealing with the public, this degree may be beneficial to achieving this goal.
Human Resources
If you want to begin a career as a human resources manager, human resources director, human resources coordinator, or an office manager, this may be an ideal degree program for you.
The average starting salary for a graduate of this program is $61,920, and the projected job growth is 7% over the next 10 years.
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If you choose to study human resources, you may learn about the recruitment aspect, legal issues, and compensation and benefits aspects of a business.
This degree program is usually best suited for a person that desires to work in an office environment. The human resources department of a company is the link between management and staff, so you may be responsible for dealing with any complaints or issues that any workers may have.
International Business
An individual earning an education in international business may pursue various career roles overseas, such as a financial analyst, marketing manager, project manager, operations manager, or business development manager.
A typical annual salary for a person with this degree is $63,790, and the predicted job growth is 18%.
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A degree in international business is designed to provide knowledge on how to effectively run and manage businesses in other countries. If you are interested in traveling and learning about foreign countries’ money systems, this degree may benefit you.
Internet Marketing
If you are an individual that plans to begin a career as a marketing manager, marketing coordinator, marketing director, marketing specialist, or marketing associate, a degree in internet marketing may be a great choice to consider.
The average annual salary a graduate in this field can make is $61,520, and the marketing field in general is predicted to grow by 18% over the next five years.
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This degree may teach you all the fundamentals of marketing on social media platforms and other internet websites. If you are thinking about operating a business online and want to learn how to gain attention from customers with your products and services, a degree in internet marketing may be a great option to teach you how to do so.
Management
This degree can lead to great employment opportunities, such as an administrative assistant, operations manager, human resource manager, project manager, office manager, and more.
The average annual income that a degree in management may bring you is $58,760, and management roles are expected to grow by 5% in the upcoming years.
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If you select this degree, you may learn the importance of business management and administration, human resources, how to develop leadership skills, and how to become more organized.
A person that plans to manage a business one day may find a degree in management essential to his or her career. This degree focuses on teaching you how to keep a company or business running smoothly.
Marketing
Graduates of the marketing program usually begin careers as marketing managers, marketing coordinators, marketing specialists, marketing directors, and marketing associates.
The typical average salary for a person with a marketing degree is around $74,510, and the jobs in this field are expected to grow by 18% within the next few years.
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Graduates may complete the program with exceptional knowledge of consumer behaviors, branding, analytics, pricing, and how to market successfully using social media platforms.
This degree is most often suitable for an individual that desires to learn how to create relationships and satisfy their customers. It may teach you how to attract certain customers to buy your product or service, which is essential to creating and managing a successful business.
Nonprofit Management
This degree is often essential for achieving careers as an executive director, program manager, director of operations, operations manager, development coordinator, grants manager, and many other opportunities involving a nonprofit organization.
Graduates of this program make an average yearly salary of $67,150.
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The jobs in the nonprofit sector are projected to grow at a fast rate of 17% over the next ten years. If you choose a degree in nonprofit management, you can plan to learn how to manage finances, fundraisers, and supervise volunteers.
A career in nonprofit management usually involves some type of meaningful work. If you want to be a part of managing an organization that is standing for a social cause or helping the public in some way, a degree in nonprofit management may serve you well.
Operations Management
A person with a degree in operations management may find themselves working as an operations manager, director of operations, executive director, retail store manager, or restaurant manager.
Operations management degree holders make on average around $73,190 a year. Over the next couple of years, the job growth for professionals in operations management is expected to rise by 4%.
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A degree in operations management may focus on teaching you how to come up with and produce products and services for consumers in the most efficient way. If you are a person that is interested in managing and coordinating the operations of a business behind the scenes, this is a degree you may want to consider.
Organizational Leadership
This is a wonderful degree program for many that can lead to various career paths, such as human resources manager, operations manager, human resources director, office manager, or executive director.
The average salary that a professional in the field of organizational leadership makes is $61,210. Within the next few years, this field is expected to expand by 9%.
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A degree in organizational leadership is designed to provide students with the knowledge and skills to successfully motivate, interact with, and encourage other individuals in a workplace. It is important for a graduate of the program to master the skill of leadership.
This may be the perfect program of study for individuals that wish to be leaders and use a more personal approach with other people in the workplace.
Project Management
The study of project management may lead to careers as project managers, operation managers, project engineers, or IT managers. The average yearly pay for a person with this degree is $73,570, and the field is predicted to grow by 6% in the next few years.
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This degree teaches students how to oversee teams and manage projects. The ideal goal is to make sure your team achieves a certain objective promptly and within the expected budget. If you are interested in joining a company and being in charge of specific projects, a degree in project management may be beneficial.
Public Administration
Students studying public administration may enter several different career paths, such as human resources director, administrative assistant, operations manager, executive director, human resources manager, and more.
The average salary for this field is $60,180, and the demand for this type of employee is predicted to grow at a high rate of 17% within the next few years.
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A degree in public administration usually prepares students for a career in public service as well as focusing on how to manage projects. This degree is often suited for individuals wishing to make an impact on the public in some way.
Public Relations
If you are looking to begin a career as a marketing coordinator, marketing manager, marketing director, account executive, account coordinator, or public relations manager, consider earning a degree in public relations.
The typical annual salary for an individual that has completed this program is $61,150, and the growth of jobs in this field is estimated to increase by 7% over the next few years.
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As a student in the public relations program, you can expect to learn how to create and gain exposure by developing public interest. Examples of ways to create and gain exposure are writing news releases, speaking with the press, and participating in interviews and speech conferences.
This degree is often most suitable for individuals that are dedicated to dealing with the public and gaining public exposure for a company to succeed.
Public Safety Administration
If the job titles of firefighter, police officer, sheriff’s patrol officer, fire chief, 9-1-1 dispatcher, firefighter paramedic, software engineer, and emergency medical technician sound like a good fit for you, you might want to consider a degree in public safety administration.
The general salary for a person with a public safety administration degree is $77,800, and the growing field is estimated to expand by 6% within a few years.
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Students studying public safety administration are taught disaster relief, response techniques, how to be prepared for any situation, and recovery methods. A person intrigued with a career involving saving lives may be an excellent fit for this degree program.
Retail and Sales Management
Graduates of the retail and sales management program may earn job titles as retail store managers, account directors, training and development specialists, office managers, merchandise planners, or inside sales managers.
The average annual salary of a retail and sales management degree is $61,210, and this field is anticipated to grow an average of 4% through the next decade.
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A retail and sales management program helps students prepare for management roles in retail, marketing, and public service industries. The critical skills taught to succeed in these roles are analytical skills, reasoning skills, and excellent communication.
Any person interested in pursuing a career as a manager in a retail or sales environment should consider earning a degree in retail and sales management.
Small Business
A student majoring in small business may pursue careers in small companies and organizations, such as a project manager, recruiter, junior estimator, director of operations, compensation analyst, or operations manager.
Most individuals with this degree make an average of $64,560each year, and the job growth is projected to increase by 8% within the next decade.
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A degree in small business focuses on teaching strong business skills, such as how to develop your own business, determine your budget, and build customer relations. Individuals that are serious about creating their own business or interested in helping others manage and develop their own business may want to apply to small business programs.
Sports Management
A degree in sports management may help you achieve a career as a marketing manager, operations manager, marketing director, account manager, or athletic director. The average annual salary for a person who has graduated from this program is $73,740, and the field is predicted to grow by 12% over the next decade.
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If you are curious about what a degree in sports management entails, you may learn about working with athletes, managing athletic facilities, and traveling and helping athletic teams. If this sounds like a good fit for you, you may want to begin researching degrees in sports management.
Supply Chain and Logistics
This can be a great educational degree for individuals hoping to earn the following job titles: logistics specialist, logistics analyst, logistics manager, operations supervisor, or supply chain manager.
Graduates of the supply chain and logistics program make an average salary of $74,750, and the jobs in the field are predicted to grow at an average pace of 5%.
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If you choose to study supply chain and logistics, you may gain the necessary knowledge on managing employees, resources, and information related to the movement of a service or product from the supplier to the customer.
A person that is interested in planning and organizing the entire process of a product or service moving throughout a business or company is often a good candidate for this degree.
Accreditation for a Business Degree
Accreditation is an important factor to look for while researching business degrees.
Before applying to a college or university, make sure it has received its accreditation from a real accrediting agency. Most colleges and employers deem it necessary for you to graduate from an on campus or online business degree program that has been accredited; this shows you have graduated from a program that meets the standard educational requirements to succeed in the business field.
The most common type of accreditation is regional accreditation based on their location. For example, the Middle States Commission on Higher Education provides accreditation to colleges and universities in New York, New Jersey, Pennsylvania, Delaware, Maryland, and the District of Columbia.
Another regional accrediting agency is the Southern Association of Colleges and Schools, which accredits colleges and universities in Alabama, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, Texas, and Virginia.
Financial Aid for Business Majors
If you are worried about being able to afford a business degree, there are different types of financial aid that you may be qualified to receive. Most college students around the world receive some type of financial assistance in order to complete their education.
Some of the financial aid options to check into are grants, scholarships, awards, student loans, and work-study programs.
If you have found a college you plan to attend, simply fill out the Free Application for Federal Student Aid (FAFSA). This is a quick, easy application offered by the federal government that determines if an individual qualifies for any financial assistance and how much assistance they may receive.
Questions Related to Earning a Business Degree
Here are our answers to a few more questions you might have.
What Are the Different Types of Degrees?
The different types of degrees are associates, bachelor’s, master’s, and doctorate degrees. An associate degree can be earned at a community college and typically takes about two years to complete. A bachelor’s degree usually takes around four years to complete and is usually received at a public or private college or university.
A master’s degree (MBA) is the next level of education after a bachelor’s degree; it usually takes between 1 and 3 years of additional time after you have earned a bachelor’s degree.
Lastly, a doctorate degree in business, which can be a DBA (Doctor of Business Administration) or PhD, usually takes 3-5 years after a bachelor’s or master’s degree.
The difference between a DBA and PhD is that a PhD is a research degree and a DBA is a professional degree with theoretical knowledge as its focus. An individual that plans to begin a career teaching or conducting research should consider getting their PhD in business administration online, whereas a DBA is most often suitable for an individual that desires to practice business and management.
What Type of Business Degrees are There?
There are countless options for business degrees. Some schools may offer five different business degrees, and some schools may offer 20.
It is very popular to earn a business degree, but you must decide which type may benefit you the most. For example, there are business degrees in accounting, economics, finance, entrepreneurship, marketing, human resources, and more.
What you take depends on what your personal and professional goals are and what you would like to focus on while earning an education.
What Major Should I Choose in Business?
This answer can only be determined by you; it is up to you to decide which major in business you should choose. Make sure the degree you choose matches your educational goals, interests, and career goals.
You may not be happy if you choose the major that makes more money over the major that aligns with your interests and objectives. The major you select can alter your prospective career path, so it is important that you put forth the effort and time to ensure you make the right choice.
Which Type of Business Degree is Best?
The best type of business degree is the one that is beneficial to you and your pursuits. There are numerous types of business degree programs being offered throughout the world that provide excellent knowledge and skills to prepare students for success.
The decision ultimately depends on what you would like to concentrate on and what type of career path you plan to pursue. Once you decide on a subject area, begin applying to colleges and universities offering the specific program of your choice.
