If you want to become an entrepreneur in the future, this post on top 10 business degrees for business majors will be helpful. I go over the degrees that end up creating the most millionaires, and as you can imagine, business degrees dominate the list.
There’s something about business degrees and how they lead to you being financially successful. Now, you could argue that people who get business degrees tend to be more ambitious, so they’re more likely to be successful. And there is probably some truth to this argument. There’s probably some bias there. But if you look at the numbers, business degrees are pretty solid all around. And I think the biggest strength of business degrees is how flexible they are.
Areas you can work with Business Degrees
- You can work in pretty much any industry or company.
- You’re not really stuck in any career.
- You can easily switch careers if you get bored of one.
- If you want to go the corporate route, you can work your way up to CEO or vice president.
You can work for a startup for a few years, learn the ins and outs of entrepreneurship and then go out on your own and start your own business. Or you can get a completely unrelated degree and either double major or minor in a business degree, which will open up many opportunities for you.
But there are some business degrees that are a lot better than others. And that’s what I’ll be talking about in this post.
Top 10 Best Business Degrees ( Business majors)
10. General Business Degree
And this one might be a surprise to a lot of you because it ranks kind of low on the list. But let me explain that they’re already extremely flexible when it comes to business degrees. So you don’t have to worry that much about being too niche. So when it comes to business degrees, you want to specialize as much as you can. And just because you started as a specialist in business doesn’t mean you can’t move on to something else later on after you’ve proven yourself.
I found that degrees that specialize in something tend to have much better stats than those that don’t, and a general business degree might be the least specialized business degree there is now. The stats aren’t terrible by any means. They’re still pretty good. And you’ll see that with pretty much all of the business degrees, you start at around $47,000 a year, which is pretty low, and then the mid-career pay is about $83,000. So overall, it’s not too bad. But you might have some issues finding a job just because it’s so general.
And this is an example of a degree that, in my opinion, hasn’t caught up with the times. The advancements in marketing are moving so fast that college curriculums cannot keep up with them. One example of this would be Facebook ads, and it seems like they change the layout on the Facebook ads every few months. And then, every single time you do it, it’s like you have to learn the entire system again. And, of course, this isn’t something that colleges can keep up with.
And that’s just one example out of many. So you might spend a ton of time learning how to use Facebook ads, and then overnight, something happens and all of that time you spend is worthless. And I’m not speaking from experience here.
For this reason, many marketers are either self-taught or have other degrees. Then they just became an expert in whatever market there and then horizontally moved into the marketing role. Now Marketing has a relatively low starting pay of $48,000 a year, and then the mid career is still somewhere around $90,000.
Overall, this isn’t bad. And if you go into the right industry or situation, it could be really good. And I think marketing is one of the most valuable skills you can learn. So that’s a plus here. A marketing degree isn’t useless by any means. But in my opinion, it’s not one of the best.
8. Sales and Business Marketing
And this one’s very similar to marketing in that I think many of these skills are very industry-specific. And the only way you can learn how to get good at sales or marketing is just to do it. Think about it, the way you sell a house to someone is entirely different from how you sell a car. Overall, the stats for this one are quite a bit better than just the marketing degree alone. The early pay is nearly 50,000. And the mid-career pay is almost $100,000 a year.
This is basically where they’re training you to be a leader, which companies love. The only problem with this one is that it’s another one that’s a little too general. And so it has a lot of the same issues that I talked about before. Now the stats for this one aren’t that amazing on its own. It’s only $48,000 a year starting and $80,000 a year mid-career.
However, if you combine this one with the right degree, it could be really good.
Example: Applied Economics and Management $58,900 to $140,000.
It might be tough to find a job with just a management degree, but overall this is still pretty solid.
6. International Business
This one had pretty good stats, the starting pay is $50,000 a year, and the mid-career pay is around $97,000. On top of that, this is a perfect one for either double majoring or minoring. Those who got an international business degree and a finance degree together seem to do very well. This one did seem to have a low meaning score, though. And that’s why it’s not higher on the list.
5. Supply Chain Management
This is another one that surprised me. So it starts at around $58,000 in the early part of your career, then it moves up to $94,000 after ten years. And this one is essential in the modern world as efficiency and processes are more critical than ever. To compete with companies like Amazon that offer one-day shipping, you have to be highly efficient.
I realize this is technically not a business degree, but most people bunch them together. And a lot of the time, you’re going to end up competing for the same job anyway, so I just decided to include it on the list. Now economics has pretty good stats, starting at $56,000 a year and then after ten years, $107,000. Economics is another one that pairs exceptionally well with other degrees.
As you can see, overall economics is a very solid choice. But you might have to plan things out a little bit here. This is another pretty general one, and you might have trouble finding a job if you don’t plan things out.
This one is really good because when you get an accounting degree, it’s very clear what kind of job you’re going to get accounting degrees to become accountants. The problem with many business degrees is that there’s so general that it’s not apparent what career paths you should pursue. First of all, accounting graduates have really good stats. They start off around $51,000 a year and then $88,000 for mid-career pay. And according to BLS, there are 1.4 million accounting jobs available right now. On top of this, accountants can easily transition to other careers such as financial analysts or personal financial advisors.
This degree is just niche enough that you can get your foot in the door and get your career started. But it’s also general enough to where you can work in pretty much any industry or company. And you can switch jobs if you want to.
Finance is kind of like accounting, but in my opinion, it’s a little bit better. So you start at around 55,000 a year, and then after ten years, your mid-career pay, you’re going to be making $98,000 on average. And there are many jobs out there that you can do, such as financial analyst, financial advisor, or financial manager. It’s also not too niche so you can easily change industries or your career trajectory if you want to.
1. Management Information System
And in my opinion, this is the best and most versatile degree that you can get in the business. First of all, you make $60,000 a year starting off, which is good. And then after ten years, it goes up to $105,000 a year. And this degree combines business with technology, and being a middleman between those two things is something that companies love. This is also another one where tons of different degrees go well.
This is also an extremely flexible degree, probably more flexible than any other one where you can easily switch careers, industries, or companies. It’s also a great one if you want to go off and become an entrepreneur in the future whenever you feel like you’re ready. Overall this is a great option.
At the very least, getting a business degree means you’re more likely to be better at managing, investing, and basically just personal finance skills.