While many business students do have a thirst for knowledge, you have an end goal in mind behind your decision to earn a business degree. You want to get a great job in the business world, one that will put you in a position to climb up the ladder toward high-level and high-paying positions. To do that, you need to know that your degree and your future career are in high demand and that you won’t end up with an unmarketable education and wasted time and tuition dollars. Many roles in business have above-average career prospects, but students should know that the type of business degree you earn will affect how in-demand your qualifications are among prospective employers.
Business Careers With the Best Job Outlooks
Current and prospective business students will be happy to hear that jobs in the business and finance industry are growing at a faster than average rate. The United States Bureau of Labor Statistics (BLS) predicts jobs in this sector to increase by 10 percent over a decade, compared to only seven percent over the same time period for all occupations. In all, business professionals will see 773,800 new job openings over a 10-year period.
However, those new roles won’t be equally divided. The business and finance occupational grouping includes more than 20 distinct careers, some of which are growing at more than three times the average rate for all occupations and others which are on the decline.
One area of business that consistently sees high demand is finance. Financial specialist jobs include financial analyst, personal financial advisor, financial examiners, accountants and many other roles that involve the management or reporting of money and assets. Among the finance roles that are undergoing the most rapid rates of growth are loan officer and financial analyst, both with an 11 percent rate of growth; personal financial advisor, with a 15 percent growth rate; and financial manager, with a 19 percent growth rate.
Outside of finance, market research analyst is one of the fastest-growing jobs with a business degree. The predicted 23 percent growth rate for this occupation should add 138,300 new jobs, the BLS reported. As their job title suggests, market research analysts have a highly analytical role in business. They gather and evaluate data on market conditions and use statistical and mathematical approaches to understand the market and predict how well a product or service is likely to sell. The work of a market research analyst influences not only what goods and services a business offers but also what price it charges and what audience the company targets in its marketing and advertising messages.
The BLS also predicts rapid job growth rates for a number of business careers that don’t fit as neatly into a subfield. Fundraisers, who work in nonprofit organizations rather than conventional businesses, are seeing 15 percent gains in opportunities. Jobs for real estate appraisers and assessors should increase by 14 percent, or 11,700 positions. Management analysts and consultants, too, can look forward to a 14 percent jump in job openings.
Business management roles that are seeing rapid job growth include financial managers, advertising and marketing managers, public relations and fundraising managers and training and development managers.
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Types of Business Degrees to Consider
One factor that will determine your marketability is what business degree you pursue. A general business administration degree program equips students with a breadth of business knowledge that will allow them to work in many different job roles, but there may be less demand for the generic degree than for a more specialized option. Of course, specializing too narrowly, especially early on in your education, could make it difficult for you to find a job, as well.
Thinking about the specific area of business you are interested in can help you determine which degree will be the best fit. If you want to work in a more analytical or technical role, like accounting and finance, then a more specialized option could be ideal. Students with a more general leadership role in mind may prefer broader programs of study.
Most business jobs only require a bachelor’s degree, according to the BLS. However, master’s degrees are popular in business subjects. The most prevalent graduate business degree is the Master of Business Administration (MBA), which, like its counterpart at the undergraduate level, is broad in scope but allows students to add a concentration. Specialized master’s degree programs also exist in in-demand fields like accounting, finance and human resources.
For the most part, specialized and “math-focused” degree programs that require more technical skills are in higher demand than more generic business degrees, like general business administration or marketing, according to The Washington Post.