When students enroll in their business career, they imagine being the CEO of a successful corporation, managing a business and handling budgeting. However, it’s a rocky path until someone with a business degree can be called successful.
The education is nowhere near affordable and it requires a lot of planning ahead and sacrificing. However, thinking about how much each degree pays can be refreshing when pursuing a business degree.
That’s why we wrote this comprehensive article and highlighted the highest paying business degrees.
1. International Business – M.S. in International Business or MBA in International Business
If you’ve ever been interested in how the business operates globally, then Global Business majors could be the right option to pursue, especially because the median annual salary is more than enough to motivate you.
This major provides students all the necessary knowledge and practice about how global business works, and how to focus on the success of multinational companies.
It’s hard enough to operate in the states, let alone across the world. Still, many companies are extremely successful at it. Degree programs focusing on global business includes capital markets, emerging financial market, global banking, multinational business management, and others.
The graduates of this program can reach the stars if they are dedicated and know how to utilize their knowledge. Positions with this degree include Project manager, marketing director, chief executive officer, management analyst, and others.
2. Human Resource Management – B.S. M.S. and MBA in Human Resources
Human resources have become the main support and foundation of modern employment. While they play a vast role in managing companies, it’s important to note that this degree isn’t easy to get.
There are a lot of courses that students need to go through and understand before they can become human resource managers. It requires a lot of coaching, training, studying, preparing and patience. People employed in human resources have to handle activities like recruiting, motivating, training and evaluating the talent of an employee which can be extremely hard.
They are important assets within global leadership and it is important because it helps build and grow productivity and teams within an organization.
Some of the skills graduates have to acquire include human capital management, growth of an organization, strategic management, financial accounting, how to create the best organizational strategy and how to manage resources.
The graduate students can find a job at a plethora of positions, including human resource specialists, managers, recruiters, and others. Also, they can earn over $120k annually.
3. Entrepreneurship – B.S., M.S. or MBA in Entrepreneurship
There are a lot of emerging online businesses that made entrepreneurship get an entirely new name for itself and grow high in demand as a degree.
Nowadays, everyone wants to be an entrepreneur which makes this degree even more attractive.
However, graduate students in entrepreneurship have a lot of modern problems to solve and challenges to overcome. They have to be focused on the improvement of a business, as well as its growth.
They require critical thinking and decision making skills. That’s because growing businesses will face more and more challenges as they grow. Students will learn a lot of things concerning entrepreneurship, with some courses touching marketing, public relations, human resources, sales, and other business principles.
Entrepreneurship graduates have a wide specter of job positions open to them, with some squeezing well-over $150k annually.
They can work as CEOS, chief executive officers and other management positions at the very top.
However, keep in mind it’s a tasking and responsible career that requires proper handling of employment and responsibility.
4. E-Commerce Management – B.S., M.S. or MBA in E-commerce
E-commerce is one of the most popular, trending and most recent business career options in the field, especially with the development of various SaaS solutions that allow easier online shop integration.
Selling a product is nowhere near easy, which is where this relatively recent business degree comes in. Even though it appeared recently, it has widely shaken up the business industry.
Graduate students who embark on this journey will get extensive knowledge about how online selling services operate and how they can be utilized to sell a product or a service.
It involves the usage of various skills like planning, management, marketing, and others.
Students will also receive a proper knowledge about business information systems to be able to understand how online services work from a technical aspect.
Students enroll in different courses, including analysis, design, how to develop e-commerce systems, decision support systems, telecommunication and internet technologies and much more.
There are a lot of e-commerce positions on the market, including E-commerce managers, E-commerce specialists, internet marketers, entrepreneurs, application designers, and many others with estimated earnings of nearly $130k annually.
5. Business Marketing – B.S., M.S. or MBA in Marketing
With the exponential development of technology, marketing has become an essential asset of every business degree. Marketing isn’t about selling a product or service, or how to bring customers who will constantly be willing to buy it.
It’s a responsible position that requires understanding not only of the product and audience they are trying to attract but the organization that offers it too.
Marketing programs allow students to explore a great variety of marketing methodologies and psychology that will help businesses sell a product. Students at these programs will learn about economics, finances, business administrations, public relations, human resources, and statistics.
Additionally, they will learn the importance of creating organizational culture and management within a firm. Graduates of this program have the most career options open. They can choose to work on company analysis, advertising, digital marketing and much more. It’s a position that pays well over $110k, which is great in the long-term.
6. Finance Management– B.S., M.S. or MBA in Finance
Finance sounds like a straightforward degree, but it’s much more than that and it brings great earnings to the most dedicated workers. Finance program graduates have learned a plethora of skills on how to grow a business and make it generate more profit.
They have a detailed understanding of financial accounting, how to make a capital, different money markets and how to squeeze in the right investment. Additionally, they learn how to work with different corporations both locally and internationally.
There are a lot of general business degrees within this field including marketing, business law, human resources, and operational management, statistics analysis and others.
Once they graduate, students will know how to work in clients’ interests when it comes to insurance, debt management, investment, and retirement.
Once they graduate, finance students have access to degrees that concentrate on operating with finances. They can become financial advisors, analysts, as well as budget analysts and managers.
Also, they can utilize their consulting skills with a great number of organizations. It’s a job position that can bring earnings of over $100, stretching to up to $150k.
7. Healthcare Management – M.S. in Healthcare Administration and Management or MBA in Healthcare Administration.
Believe it or not, healthcare is a business tool, an extremely important one. However, it’s not easy to get into healthcare without the appropriate expertise and knowledge.
Healthcare management and administration are both degrees extremely important for the overall development of medical care. Additionally, both programs allow students to progress swiftly and make the best of their career plans. It involves learning about different business trends and trades, leadership and more.
Students who enroll in these programs will learn about the health care law, health care policy and different regulations within the law. Additionally, they will immerse themselves in the courses about healthcare informatics, healthcare economics, and other important specializations.
Graduates in the field can squeeze over $80k annually and establish a strong career path. Different job positions include hospital administrators, healthcare consultants, healthcare managers, and others.
8. Business Economics – B.S., M.S. or MBA in Economics
Economics is one of the most fundamental principles in the business and is something everyone who studied within the business field should know.
However, there are also candidates who specialize in Economics which yields great results in the future. They are specialized to take onto understanding and utilizing different business regulations and policies, global and public relations and understand the fundamentals of governmental business laws.
Students of economics enroll in a plethora of programs like macroeconomics, microeconomics, industrial-organizational, econometric methods for business and analysis. They also need to be well-versed with global economic trends, economics in both urban and rural regions and international trade.
Once they graduate, economists can work as market analysts, investment bankers, credit analysts and more. It’s a well-grossing field that allows candidates to earn up to $100k annually.
9. Accounting – B.S., M.S. or MBA in Accounting
Without accounting, there would be no business, there’d be no profit, or budget, or anything that has to do with calculating earnings, fees, taxes, and other expenses.
Students with a concentration on accounting can work as auditors who can keep track of the company’s budget and improving it. They can work in informational technology and collaborate with a great variety of fields to improve the organizational policy of a company and help it generate more money.
Students who enroll in this program can expect to get introduced to operations management, marketing, statistical analysis and making the right business decisions.
Candidates who complete the coursework and graduate have a lot of positions at disposal, including loan office administration, financial representatives, accountants, auditors, and other positions. The starting salary may be lower than others in the list but can reach up to $80K annually.
10. Information System Management – B.S. in Management Information Systems
In combination with information technology and computer science, the salary with a business degree will skyrocket. This degree revolves around management and computers and technology.
This degree helps business candidates to prepare for job positions that also focus on technology. Technology in itself is one of the most successful degrees in the modern world.
Students will go through business theory and practices, learn how to solve problems that occur in the organization, communicate with other technology-versed people in the company to resolve issues, and much more.
Lastly, they will earn expertise as Database administrators of the financial databases in the organization. Graduates can earn up to $85K as median salary in this field, and Manager can ear up to $150k.
11. Business Administration – MBA
Business Administration is one of the most sought after degrees, with students developing capabilities of researching, analyzing and leading operations inside one organization.
The job of a person employed in the business administration is to utilize their skills and knowledge in bringing more profits to an organization while making it more efficient.
Students partake in business-related courses like business strategy, finance, accounting, economics, statistics, operations management, and information systems. There are additional business administration and management specializations that will lead to better job positions. Graduates earn anywhere from 60K to over 130K.
Also Read: Is Business Administration a Good Major?
12. Actuarial Science – B.S. or M.S. in Actuarial Science
Actuarial science defines as conducting a study of the risk of a certain service, product or project. Graduates from these programs need to possess complex analytical skills that they can utilize to calculate the risk of a certain endeavor within an organization.
That’s why the candidates engage in coursework like calculus, algebra and probability and statistics. They additionally need to be well-introduced to the terms of microeconomics and macroeconomics, as well as finance.
This degree is great to start the career as an actuary and earn up to 100K annually as a median salary. It’s worth noting that there are also some other types of actuaries with specialization towards health insurance and life insurance, as well as those who deal with properties, retirement, pensions and enterprise risk actuaries.
Another thing important to consider that all actuarial science graduates need to pass the certification before they earn the job as an actuary.
Which business degree to choose?
The final choice is down to an individual who wants to utilize their business expertise to help businesses thrive. If you think that money is your stronger skill, business economics, accounting, and finance could be the right fields for you to enter. If you feel like you’re better at management, then international business, human resource management, and healthcare could be a better option. Finally, if you feel you’re better with sales and online businesses then e-commerce management, information system management, and marketing could be the best option for you.