Are you considering pursuing a business degree? Whether you're a recent high school graduate or a working professional looking to advance your career, getting a business degree can be a wise investment in your future. In this article, we'll cover everything you need to know about getting a business degree, including the courses you'll take, the application process, high-paying jobs you can get with a business degree, and more.
What is a Business Degree?
A business degree is an undergraduate or graduate degree that focuses on the study of business concepts and practices. The curriculum typically covers a broad range of subjects, including accounting, economics, finance, marketing, management, and more. A business degree can be earned at many different levels, including associate's, bachelor's, master's, and doctoral degrees.
Types of Business Degrees
There are several types of business degrees you can choose from, depending on your career goals and interests. Here are some of the most common types of business degrees:
Bachelor's Degree in Business Administration
A bachelor's degree in business administration (BBA) is a four-year degree that provides a broad overview of business concepts and practices. This degree is a great option if you're just starting out in your career or want to gain a solid foundation in business before pursuing a more specialized degree.
Master of Business Administration
A master of business administration (MBA) is a graduate-level degree that typically takes two years to complete. This degree is designed for students who want to take their business education to the next level and gain advanced skills in areas like leadership, strategy, and entrepreneurship.
Master of Accounting
A master of accounting (MAcc) degree is a graduate-level degree that prepares students for careers in accounting and auditing. This degree typically takes one to two years to complete and can lead to careers in public accounting, corporate accounting, or government accounting.
Master of Finance
A master of finance (MFin) degree is a graduate-level degree that prepares students for careers in finance. This degree typically takes one to two years to complete and can lead to careers in investment banking, asset management, or corporate finance.
Doctor of Business Administration
A doctor of business administration (DBA) is a doctoral-level degree that is designed for business professionals who want to gain advanced knowledge and skills in areas like management, strategy, and innovation. This degree typically takes three to four years to complete and can lead to careers in academia or high-level executive positions.
Applying for a Business Degree
If you're interested in getting a business degree, the first step is to apply to a college or university that offers a business program. Here are the general steps you'll need to take to apply for a business degree:
- Step 1: Research Schools and Programs
Start by researching schools and programs that offer business degrees. Look for schools that are accredited and have a strong reputation for business education.
- Step 2: Prepare Your Application Materials
Once you've identified the schools and programs you're interested in, it's time to start preparing your application materials. This typically includes transcripts, test scores, letters of recommendation, and a personal statement.
- Step 3: Submit Your Application
Once you've prepared your application materials, it's time to submit your application. Be sure to follow the application instructions carefully and submit your application by the deadline.
Courses You'll Take in a Business Degree Program
The courses you'll take in a business degree program will depend on the specific degree you're pursuing and the school you're attending. However, here are some common courses you can expect to take in a business degree program:
- Accounting: In an accounting course, you'll learn about financial accounting, managerial accounting, and auditing
- Economics: An economics course will cover topics like microeconomics, macroeconomics, and international economics.
- Finance: A finance course will cover topics like financial markets, investment analysis, and corporate finance.
- Marketing: A marketing course will cover topics like market research, consumer behavior, and marketing strategy.
- Management: A management course will cover topics like organizational behavior, human resources, and strategic management.
High-Paying Jobs You Can Get with a Business Degree
One of the biggest benefits of getting a business degree is that it can lead to high-paying jobs. Here are some of the top-paying jobs you can get with a business degree:
- Chief Executive Officer (CEO): CEOs are the top executives in a company and are responsible for setting the company's strategy and direction. According to the Bureau of Labor Statistics, the median annual salary for CEOs in 2020 was $184,460.
- Financial Manager: Financial managers are responsible for overseeing a company's financial operations and making strategic financial decisions. According to the Bureau of Labor Statistics, the median annual salary for financial managers in 2020 was $134,180.
- Marketing Manager: Marketing managers are responsible for developing and implementing a company's marketing strategy. According to the Bureau of Labor Statistics, the median annual salary for marketing managers in 2020 was $135,900.
- Investment Banker: Investment bankers work for banks or financial institutions and help companies raise capital through IPOs, mergers and acquisitions, and other financial transactions. According to Payscale, the average annual salary for an investment banker is $100,000.
- Management Consultant: Management consultants work with companies to help them improve their business operations and strategy. According to Payscale, the average annual salary for a management consultant is $87,000.
Getting a business degree can be a great investment in your future. Whether you're interested in a career in finance, marketing, or management, a business degree can give you the skills and knowledge you need to succeed. By researching schools and programs, preparing your application materials, and taking the necessary courses, you can set yourself up for a successful and lucrative career in business.
What is the difference between a BBA and an MBA?
A BBA is a bachelor's degree in business administration, while an MBA is a master's degree in business administration. An MBA is a more advanced degree that typically requires several years of work experience.
What kind of jobs can I get with a business degree?
There are many different types of jobs you can get with a business degree, including financial manager, marketing manager, investment banker, and management consultant.
How long does it take to earn a business degree?
The length of time it takes to earn a business degree depends on the level of degree you're pursuing. An associate's degree typically takes two years, a bachelor's degree takes four years, and a master's degree takes one to two years.
What should I look for in a business degree program?
When looking for a business degree program, you should look for schools that are accredited, have a strong reputation for business education, and offer courses that align with your career goals and interests.
Is a business degree worth it?
Yes, a business degree can be worth it if it aligns with your career goals and interests. Business degrees can lead to high-paying jobs and provide a strong foundation for a successful career in business.