You will undoubtedly take many factors into consideration when picking the best business major for your undergraduate degree. Many of these factors will be subjective, but some of them will include practical considerations such as job demand and salary. In this article, we’re going to list several business majors that have the best projections into the next decade both in terms of growth and salary expectation. The list was created using data from the Bureau of Labor Statistics.
Finance majors are invaluable to any organization. They handle matters related to international relations, government policy, business decisions, and the financial well-being of a company. Financial majors are in high demand, with an average salary of $99,330 per year and an expected growth rate of 11.5%. On top of that, you can choose to go with a more unorthodox approach, thanks to the internet, and work remotely while managing multiple companies.
Accounting is needed across every industry in the economy and, according to the National Association of Colleges and Employers (NACE), 60.6% of businesses surveyed said they were highly interested in hiring accountants. With an average salary of $92,910 and a projected growth rate of 11.5%, accounting is one of the most secure and well-paid jobs out there. On the job, you will need a firm understanding of various accounting principles and concepts such as corporate taxation, risk analysis, and business law.
The marketing department of a company is tasked with developing the strategy that will connect the business to the customer. Without this essential function, a company cannot exist, and when it is not optimal, the company stands to lose tremendous amounts of money. This is why candidates that have outstanding skills in market research, community involvement, public relations, and advertising are highly sought after.
With a projected growth rate of 12.82% and an average salary of $112,800, marketing careers are some of the most in-demand on this list, both by candidates and by organizations. If you have strong critical thinking skills along with a sense of creativity, this is the right major for you.
The business administration major is one of the most versatile options. The skill set you learn applies to almost any organization and numerous positions. You can choose to climb the corporate ladder or you can start your own enterprise. Also, according to NACE, it is currently the fifth most in-demand major on its top 10 list. The coursework for this major will generally include subjects as varied as the applications of the major itself: business statistics, accounting, information systems, financial management, operations management, marketing, and others. The average salary for this major ranges anywhere from $62,900 to $137,020 per year, with an expected growth rate of 8.75%.
Interested in attending business school in Chicago?
As a metropolitan area, Chicago is filled with job opportunities, and the competition for candidates is high, which means that you can earn a higher salary on average. At Robert Morris University, we offer our students several sought-after business majors, along with the opportunity to work with some of the country’s greatest businesses. Our college campus is located next to PricewaterhouseCoopers, one of the Big Four accounting firms, and our students have exclusive opportunities and programs that can greatly enhance their resume. If you’d like to know more about our majors, coursework, and pricing, contact us today. One of our representatives will work with you to identify the right area of study for you. Our flexible schedules will ensure you attain your educational goals within a time frame that is right for you!