In this post, you will discover the advantages of having a business degree, types of business degrees, and most importantly, the top 10 highest paying business degrees and salary of each.
A business degree is one of the most lucrative and flexible qualifications widely available, whether you choose to pursue in a traditional campus program or take online business classes. A degree in this field can help you boost your career opportunities, as it applies to almost all sectors of industry and commerce.
Advantages of Having a Business degree
The top 10 business degrees mentioned below all have at least 3 sought after advantages: Job Versatility, Career flexibility, and High Salary.
Job Versatility
It is surprising how many doors a degree of business can open. Business degrees provide with useful skills for a wide range of professional careers: financial areas, administration, insurance, sales, manufacturing, publishing, teaching, consulting, and management. And if you don’t want to pursue a typical business management career, you can move on to more creative avenues like public relations or marketing. You can use your knowledge to conduct market research, develop marketing strategies, communicate with advertising authors and designers, or evaluate campaign results.
Another versatility is the fact you can start your own business and set your financial worth instead of letting someone else decides for you.
Career Flexibility
A business degree in accounting, economics, business, finance, management or statistics prepares with enough professional skills to embrace difference careers. A master’s degree in business or finance can land you an executive job.
Having a business degree allows you to work as a:
- sales manager
- Business analyst
- Financial analyst
- Account manager
- Marketing manager
- Project manager
- Sales representative.
High Salary
While choosing a profession is subject to personal interests, it can be valuable to consider a career in business. Business degrees currently dominate the list of top majors in demand, and there is no sign this will change anytime soon.
Most business careers pay nice salaries. From five figure salaries to hundreds of thousands of dollars for high-level executives managing lucrative companies. If you are a working professional and looking to advance your career in business, a degree can be a gamechanger. A business degree can considerably increase your job prospects, open doors of new opportunities, and increase your salary and lifetime income.
A business degree is an advantageous investment in your career—now and into the future.
Please keep watching for the list of the top 10 highest paying business careers.
Types of Business Degrees
There are 4 main categories of degrees available for students after completion of secondary education or high school: associate, bachelor’s, master’s, and doctoral degrees.
- Associate Degree in Business
Associate covers information on many different business majors. These business degrees are designed for people seeking knowledge and skills to enter the business world. With an average salary of $51,000, Associates Degree in Business is worth every second and effort you spend. Aspirant students may choose to study Accounting, Hospitality Management, Business Administration, or Human Resources program.
Top associate business careers include:
- Business Operations Supervisor, average salary $52,771
- Business Manager, average salary $74885
- Office Manager, average salary $79,765
- Human Resources Supervisor, average salary $90,578.
- Bachelor Degrees in Business
In the United States, most bachelor in business degrees require 120 semester hours or awarded after four years of full-time study in one or more areas of business focus. In Europe, the degree is awarded after three years of full-time study in one or more areas of business concentration. In general, the Bachelor degree programs include advanced courses for specific concentrations. The degrees also help students develop management and business skills, communication skills, and business decision-making skills. Many programs include training and work experience, in the form of case projects, presentations, internships, industry visits, and interactions with industry experts.
Top highest paying business bachelor degrees include:
- Bachelor’s in Finance, Median Salaries: $87,850, $85,660
- Bachelor’s in Supply Management, Median Salaries: $121,110, $69,600
- Bachelor’s in Marketing, Median Salaries: $126,640, $63,790
- Bachelor’s in Management Information Systems, Median Salaries: $146, 360, $93,750
- Bachelor’s in Finance, Median Salaries: $87,850, $85,660.
- Master Degrees in Business
There is a growing list of master’s degrees in business offered online and on campus. And day by day it’s getting easier to earn a master. Earning Your Master’s Degree in Business is an excellent investment If you are a business professional attempting to upgrade your leadership skills to higher levels of responsibilities. The degree can transform your career in the business world and raise you up to executive roles. Most Master degrees in business require a two-year graduate program and is usually carried out by professionals in the middle of their careers to gain a career advantage.
The curriculum is designed to provide students with the skills that will make them qualified and competent in high-level managerial positions. The master programs focus on current management techniques and career areas in business and related concepts in economics, applied mathematics, statistics, behavioral sciences, and their practical applications.
Top highest paid business master degrees include:
- Master of Business Administration (MBA), average salary $ $115,000
- Master of Accountancy (MAcc), average pay between $71,237 and $135,000
- Master of Science in Finance (MSF), average salary between $78,778 – $134,000 per year
- Master in Management (MIM), average salary $79,818.09 – highest $97,246.27
- Master of Business Development, salary range from $119,356 more than $132,000.
- Doctorate Degree in Business
Having a doctoral degree in business give you a new perspective on the business world, allowing you to earn not only more money but also more credibility in your field among your peers, potential employers and the business industry in general.
“For students who have earned their DBA, they have learned a new way to communicate,”
Studies reveal the most common reason people earn a doctoral degree is the high salary. Indeed, they are right. Depending on your career, you can earn up to 120000 annually with a Business Doctorate Degree.
Top 10 business degrees and their salary
- Accounting
By studying accounting, you will develop your understanding of generally accepted accounting principles, tax law, the process of managing financial documents, and the way they affect business operations.
The accounting field contains many potential careers and this degree will prepare you to search for different types of accounting, auditing, or tax related positions within a variety of organizations. While the BLS notes that the average U.S. salary for accountants and auditors in 2018, (the latest available data), was $ 70,500, individuals in the lowest 10% of the range earned $ 43,650 and people in the top 10% get up to $ 122,840.
- Advertising
Do you think you have the creativity to develop an ad that eliminates clutter and stays on the mind of a potential customer? With an advertising degree, you’ll learn how to make a message stand out from the rest by learning what makes an audience tick and how to better reach them. This is a great option if you are looking for a way to tap into your creative skills in global business.
Advertising majors usually start in the range of $ 35,000- $ 45,000 after college, but people who work in the advertising field can make over $ 160,000 once they are in managerial and executive positions.
- Business management
There is a lot to learn about running a successful business. The Business Administration degree will give you a solid and comprehensive foundation in important business components such as accounting, sales, operations, and organizational leadership. You will also be better equipped to manage and lead a team of people, which is helpful if you have hopes of developing your career into leadership positions. At the graduate level, the MBA program will continue to build and improve management skills at the top level. How Much Does a Business Operations Manager Make? Business Operations Managers made a median salary of $100,930 in 2018. The top 25% best-paid made $157,120 that year, while the lowest 25% made $65,650.
- Economics
If economics is your preferred major field of work, you can expect to learn economic principles and theory, including the use of mathematics and data analysis. The degree of economics can assist you in preparing you to analyze and forecast economic trends in order to improve business operations and performance.
Starting salary is good. Junior economists with little or no experience can expect to make between $ 58,130 to $ 77,270 a year or $ 28 to $ 37 an hour. Just like any other job, the salary of economists will increase as they become more experienced.
- Finance
If you choose to study finance, you will learn a wide range of concepts and skills including financial analysis, economics, statistics, and portfolio management. The major in Finance will help you to pursue opportunities in the financial sectors as well as in the areas of accounting or investment.
Financial managers earn an average yearly salary of $117,059. Salary usually starts at about $61,845 and increases up to $221,568.
- Healthcare Management
It takes a lot of business acumen to keep the healthcare industry running smoothly and profitably. This Business Specialization prepares you to provide business leadership strategies designed to address unique challenges and complexities in the growing healthcare industry. You will learn many proven management techniques with a focus on the nuances of the healthcare industry.
The average salary of a Medical Management Manager in the United States $104,580 as of September 25, 2020, but the range typically falls between $97,124 and $115,767. Entry level jobs start at $ 70,000 annually, while most experienced workers earn up to $ 125,953 annually.
- Human Resources
This field relies on impeccable interpersonal skills, whether it helps employees navigate the benefits registration or helps secure the best talent required for business growth. With a Human Resources Degree (HR), you will learn the skills needed for business management and business practices as well as learn about organizational development, resource planning and training. At the graduate level, a Master’s degree in Human Resource Management can help prepare you for high-level HR management roles.
According to the Occupational Outlook Handbook of the United States Bureau of Labor Statistics (BLS), the average national annual salary of a human resources manager is $ 113,300.
- Marketing
Do you want to help grow and maintain a business by attracting and retaining customers? Then specializing yourself in Marketing can be a great option. You will focus on learning the basics of areas such as market research, communication and marketing strategies. A company’s marketing department helps in accomplishing tasks such as product promotion or consumer research in order to achieve business goals such as increasing sales, building brand awareness, and improving customer retention. Want to help grow and maintain a business by attracting and retaining customers? Then specializing in Marketing is a great option. Courses will focus on learning the basics of areas such as market research, communication and marketing strategies. The company’s marketing department assists in accomplishing tasks such as product promotion or consumer research in order to achieve business goals such as increasing sales, building brand awareness, and improving customer retention.
as of September 25, 2020, the average Marketing Manager salary is about $105,977, with a range typically falls between $92,350 and $124,768.
- Public Relations
PR professionals interact with the public on behalf of the organization they represent. To do this, you must be an excellent communicator and business strategist. A public relations specialist will teach you the principles of strategic communication, community event planning and how to manage relationships with news media.
Public Relations specialists earn an average salary of $ 60,000 in 2018. The top 25% earned $ 81,550 that same year; the lowest 25% earned $ 44,490.
- Supply Chain Management
Have you ever wondered how the products you order online end up in your door within days? To steal a line from UPS: This is logistical! The degree of Supply Chain Management will prepare you to deal with the complexities of global supply chain management (and all the moving parts that come with it) to ensure business operations are run efficiently.
as of September 25, 2020, the average salary of a Supply Chain Manager in the United States is $109,430. General wages range between $96,175 and $126,390.
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