Business-related degrees are extremely popular, and it is not difficult to understand why this is the case when you consider how a degree of this nature will open the door to a number of different careers, many of which you probably have not even realized.
It can often be the case that a student will study for a degree in a particular subject and then come to the realization that the profession that the degree qualifies them for is not an area in which they would like to pursue a career.
One example of this would be a degree in health and medicine. If, after completing the degree, you come to the conclusion that the subject is not something that you particularly enjoy, it could be argued that studying for the degree was a waste of significant amounts of time and money.
With a business-related degree, however, there are so many different careers that you would be qualified for that the chances of there not being an option that appeals to you would be pretty low.
A good business degree can open many doors for the diligent graduate, so let’s take a closer look at some of the benefits that can come with a degree of this nature.
A thriving job market
It doesn’t matter if the economy is booming or in a recession; the opportunities within the job market for business degree graduates are always high.
Thanks to the very nature of business, any position that will help a business grow or even stay stable will always be in demand and pay well.
It is estimated that business graduates with a good degree will find suitable employment within six months of graduation on account of the numerous opportunities that are available, and this statistic is showing no sign of changing any time soon.
A qualification that lends itself to flexibility
We have already spoken about there being such a diverse range of job opportunities for business graduates, but it should also be mentioned that if you want to change your career at any time in the future, a business qualification will give greater depth to your knowledge and skills and will open up many more opportunities, even though they may be within different industries.
This is certainly the case if you are interested in becoming a leader in a management role as these positions often suit individuals who hold a degree in a business-related subject.
The opportunity to network
Something that is often overlooked is the fact that during the course of the first few years in a management position, graduates are likely to mix with other graduates who have completed a business degree and go on to work in positions of authority in companies around the world.
Graduates will often stay in touch, and as a result, various networking opportunities can arise that will benefit all parties.
Later in the career of a business graduate, their contacts are often taken into account and can result in a vacant position being awarded to them thanks to the many benefits that come from hiring a well-respected individual who can boast of a large number of influential contacts.
Excellent earning potential
It is widely recognized that graduates with a business-related degree are usually able to earn a higher salary from the outset than graduates who possess other types of degrees.
Business graduates are often able to earn a starting salary of upwards of $55,000 per year. For those interested in management positions, salaries of around $100,000 per year are available, but these figures can vary dramatically because there do not seem to be any limits on the earning potential of business executives.
Add a few years of experience into the equation, and the salaries for business graduates rise accordingly, so it should come as no surprise that studying for a business-related degree is proving to be so popular.
Now that we have discussed some of the benefits of studying for a business-related degree, it is time to explore some of the different types of jobs that are open to graduates.
Financial analysts
The career of a financial analyst covers many different aspects, with a massive range of opportunities available to graduates with a business-related degree.
Financial analyst positions are usually offered by banks and financial institutions, either in-house or as part of a company that looks after a number of clients. However, it would be fair to say that businesses of all sizes offer career opportunities in this field.
The job of a financial analyst requires candidates with strong analytical skills, and you will usually find that there are plenty of internship positions on offer, particularly in the banking sector.
Long hours are associated with a career as a financial analyst, but the salary prospects are superb, with employers willing to pay very handsomely for the right candidates. Therefore, most analysts would agree that the long hours are a small price to pay for such a rewarding position.
Marketing managers
The position of marketing manager is a popular one with anyone who has an online master’s of business admin degree from a reputable institution because of the exciting and varied nature of the job.
A marketing manager may specialize in internet marketing and everything that is associated with that, such as social media marketing and offline promotional activities.
It could be argued that this type of posting will often suit an individual who has more of an outgoing personality type because meeting with a wide range of clients is often a requirement that goes hand in hand with this position.
In addition to being a confident individual, a marketing manager will also need first-class analytical skills and the ability to adapt and learn new marketing methods in what is proving to be an ever-changing environment.
Accountants
Most people will associate the job of an accountant with someone who looks after the accounts of a business. However, accountants who also possess a business degree can play a huge part in the running of businesses of all sizes.
The job opportunities for accountants include working for a specific company and preparing accounts solely for that company or working for an accountancy firm and servicing the needs of a number of clients.
At the other end of the spectrum, an accountant could go down the self-employed route and look after small businesses or individuals who require basic help and advice regarding their finances, such as investment options and recommendations.
Insurance underwriters
This is a profession that is often not even taken into consideration by anyone with a business-related degree, but the position of an insurance underwriter is one that comes with a great deal of responsibility as well as a very attractive salary to compensate for this responsibility.
An insurance underwriter is someone who determines the value of an asset or even an individual so that a suitable amount of insurance can be put in place.
When you consider the fact that business and property insurance policies can run into millions of dollars, it does not take much imagination to realize how important the skills of an insurance underwriter are to the company or individual that is hiring them.
Independent business consultants
A good business-related degree will open the door to a career as an independent business consultant, and it could be argued that this is a career where major earnings await.
The job of an independent business consultant is to advise businesses of all sizes on how to maximize their potential, and it is not unusual for them to charge a percentage of added earnings as a result of the advice given, not to mention an attractive basic salary.
Good independent business consultants are in high demand thanks to the profits that they can earn for a business, so it is not surprising that this career is such a popular option for those with a business-related degree.
Once experience has been gained in a business consultancy role, the opportunities for an individual to branch out into their own consultancy business are wide and varied – and as one might expect, they are potentially extremely lucrative.
The future for graduates with business-related degrees
It should be a confident assumption that the future for business-related degree graduates is very bright, but you should be aware that even though a degree of this nature has the ability to land you a wonderful job, there will be a constant requirement to continue learning, no matter what type of career path you choose to embark upon.
As an example, a marketing manager might have landed the job of their dreams 20 years ago when the internet had not taken off but if they had not continued to learn, they would be considered a dinosaur by now as the old marketing methods they would have used are now being regarded as ineffective.
Another good example would be an insurance underwriter who can now use technology to calculate the risks when compiling an insurance risk proposal.
Someone in this profession who is averse to change will undoubtedly be left on the sidelines and will more than likely end up being unemployed.
Business graduates will also need to stay on top of the changes in any laws and IRS regulations, so even though all of these positions pay well, it is not a case of just getting your qualifications and then focusing solely on your job. A passion for the subject of business will help you to not only stay on top of all the changes that will occur over the months and years ahead, but it also means that you will enjoy your job more.
Conclusion
It could be argued that all degrees from a reputable provider will make you more versatile for a number of roles going forward, but few will offer nearly as many opportunities as a business-related degree.
Business degree graduates will not be limited in terms of the jobs or industries they can choose to get involved in. In fact, there are openings for graduates with this type of qualification in every industry that you can think of.
The range of jobs that are available is extremely diverse, from an accountant or a marketing manager to a business consultant or an underwriter. Name any profession imaginable, and there will usually be a position that would be suitable for someone with a business-related degree.
The attractive salary offers are another obvious advantage that comes with having a business-related degree on your resumé. Starting salaries of more than $55,000 per year are not unusual in this field; if you are starting a management role within the sector, salaries of $100,000 or more are quite common.
Even though the world is in a strange place at the moment, still scarred by the pandemic and heading into a recession or potentially even a depression, the demand for graduates with a business-related degree continues to be strong.
In the times of recession, businesses need the skills of business graduates to ensure that they stay afloat and prosper when all those around them are panicking.
It is important to keep in mind that if you choose to embark on a business-related degree program, you need to take the time to ensure that you are learning from a reputable educational institution and that the degree is not some type of qualification that has been created to trap gullible graduates.
It is difficult to go wrong when investigating what institutions such as Walsh University have to offer in terms of learning opportunities because their reputation is second to none.
Finally, if you ask graduates whether their degree in business-related studies turned out to be a good decision, the vast majority will tell you that they are happy with their choice because the opportunities that the degree has opened up for them mean that their earning capabilities have grown dramatically. In addition, because there are so many vacancies available, they have been able to choose the career that most appeals to them.
