Why Business Is The Most Popular Bachelor Degree in the U.S.
According to the National Center for Education Statistics (NCES), business degrees are the most popular bachelor's degrees awarded to students. Of the 1,650,000 bachelor's degrees granted in the United States during 2009 – 2010 school year, 358,000 were in a business-related major.
Since this represents a significant portion of graduates, it may cause you to wonder why these degrees are so popular. For most students, majoring in business is a choice made based on a number of different factors. Discover why business is the most popular major today for college students.
Wide Variety of Career Choices For Business Degree Holders
For the overwhelming majority of students, the primary reason to earn a bachelor's degree is to prepare for a career after graduation. In today's economy, earning a degree is one of the best ways to find employment, and it can open all kinds of doors and opportunities to graduates.
With a business degree in hand at the associate, bachelor's or master's level, you will be eligible for dozens of different careers, many of which are found in all kinds of industries.
According to the Bureau of Labor Statistics (BLS), just some of the many business occupations include that of real estate appraiser, accountant, purchaser, training and development specialist, market research analyst, loan officer, cost estimator and many more.
Greater Earning Potential in the Field
Along with simply finding a full-time career, many students are naturally drawn to those fields where higher salaries are the norm.
While the amount of money you make in the future will be based on factors like geographic location, experience and industry competition, there is no question that business graduates are able to earn impressive salaries with just a bachelor's degree.
As a human resources specialist, you might be able to earn the average salary of $55,640 per year.
Personal financial advisers holding just a bachelor's degree typically earn a median of $67,520 per year. Budget analysts working for colleges, federal agencies or large corporations typically earn an average annual salary of $69,280, and compensation specialists earn $59,090 per year.
In fact, it is rare that the average starting salary for any business-related career is less than $50,000 annually.
Predicted Job Growth For Many Careers in Business
Of course, preparing for your career is about more than just the next five years or even the next decade. Most graduates will be in the workforce for forty years, which means that your career choice should be something with longevity and plenty of predicted growth in the year to come.
According a 2012 report from the Bureau of Labor Statistics, personal finance advisers will see a 27 percent increase in job growth by 2022.
Similarly, financial analysts will see an increase in job growth of roughly 16 percent in the same time period, and logistics professionals will see an increase of 22 percent.
While predicted job growth is not set in stone, and it can vary depending on where in the country you happen to live and work, it is a great indicator of how easy it will be to secure and maintain your jobs for years to come.
Numerous Opportunities For Specialization
One of the best things about preparing for business degrees with a college degree is that you can specialize in areas that subjects that appeal to you most. A typical bachelor's degree will take four years to complete, and that number remains the same for most students regardless of whether they study online or through a traditional college campus program.
During those four years, part of the curriculum will be planned for you, but there are also many opportunities for you to pick and choose subjects that interest you most. If you find that you are naturally good at numbers and calculations, taking courses in statistics and accounting is a smart idea.
If you have leadership abilities and solid communication skills, taking business management courses prepare you for a mid-level management career with a business after graduation.
Greater Chances For Successful Networking and Career Promotion
Although most employees want to hire individuals who have a college education, it is not necessarily a requirement. However, earning a college degree in business can help you get your foot in the door in more ways than one.
During your time as an undergraduate, you will meet hundreds of other students, either online or in a physical classroom, that also plan to work in the field. Over time, these connections can help you find new opportunities, earn promotions and establish networks that benefit your business.
Evidence shows that business is the most popular major for college students, and it is easy to see why. Projected job growth, the variety of business careers, networking opportunities and greater earning potential are all reasons to pursue this major during your time in college.