Whether you are just choosing your future career path or already acquiring a degree, it is natural to wonder if the chosen major is viable enough to stay in demand in 5, 10, or even 20 years. Especially when studying something so widespread and all-encompassing as a business. In this case, the choice of a major should be even more thought-through.
Without any doubt, being a business student isn’t a piece of cake. Being so all-encompassing, this major spans a huge number of disciplines and topics. Thus, you might have to do twice as much work as other peers if studying it.
Luckily for current and future business students, handling the hefty academic load and abundance of academic assignments can be simple. All you need is professional help from Writepaper.com. You will be able to get through your college years with ease and reach academic excellence. But, the main question is – is studying this major actually worth the effort in 2022? Let’s try to figure it out!
Who can possibly have a demand for employees with this degree? After all, many graduates of business programs are striving to become entrepreneurs themselves. Respectively, they rarely enter the labor market.
Believe it or not, business is one of the most in-demand degrees in the US and beyond. To be more specific, according to Best Colleges, this major is the top second most in-demand one, following right after engineering. And it keeps growing every year!
What does this mean in practice? Basically, the high demand for this degree in the labor market means that graduates with this diploma will not likely be left out of the competition. On the contrary, they will have pretty high chances of getting hired in 2022 and further on.
Pay and Career Growth
The second thing the majority of future students are interested in is the potential average salary they can make with a specific degree. So, let’s take a look at some numbers now.
First of all, let’s consider the potential revenue for those graduates who will decide to engage in entrepreneurship. According to a survey by American Express, the average salary of entrepreneurs is only $68,000 this year. According to Payscale, this number is a bit higher – $72,000. These numbers might not sound too large. But, let’s not forget that this major unlocks many other opportunities too.
With that being said, according to the Bureau of Labor Statistics, the average salary for a marketing manager job is over $140,000. The median pay for a financial analyst is around $80,000. And top executives can make over $100,000 a year. All these jobs can be landed with a business diploma.
Now, what about potential career growth? Here are some stats for careers in the business industry:
- Market research analyst – 22%
- Fundraiser – 16%
- Management analyst – 14%
- Business analyst – 14%
Looking at these projections, we can confidently say that jobs that you can land if you major in business mostly have pretty high growth rates. Therefore, if you decide to enter this industry, you can rest assured that there will be plenty of opportunities for growth and development, which is a good thing.
Skills and Knowledge
When deciding on the best major for you, another thing worth considering is the range of knowledge and skills you can acquire if you choose each particular option. The goal is to ensure that the chosen field will give you extensive knowledge and a broad skill set that can be leveraged across different areas.
As was mentioned numerous times, business is a very broad field. Thus, when studying it, one can acquire solid knowledge across many verticals. And, of course, acquire a huge range of vital professional and life skills.
What specifically is in it for you? First of all, studying business will help you learn about many related fields, including marketing, finance, management, accounting, entrepreneurship, administration, and many others. Thus, the range of knowledge you can acquire is very broad.
As for skills, there are quite a few of them too. First of all, students who major in this field will acquire the skills needed to launch, operate, and grow a business. But that’s not all. Apart from this, you will also acquire such vital skills as communication, macroeconomics, decision-making, problem-solving, effective time management, risk management, and many others.
These skills and knowledge can be applied in everyday life as well as in your career. They all are vital. And you can acquire them all by selecting this major.
When selecting a suitable major, the current (and future) demand for it is the main thing to consider before making the final choice. So, let’s take it from there.
Many believe that acquiring a business education is only needed when planning to engage in further entrepreneurial activity. Indeed, if you are looking to start your own enterprise in the future, the chances are that you will need to master the basics of entrepreneurship, accounting, management, and finance. And all these disciplines are involved in a business major. But that’s not the only reason to study it.
In fact, this broad field can be applied across many jobs and industries. This academic background actually prepares you for an array of great careers. To name a few, you can easily land a job in management, marketing, finance, and other fields with this degree.
The Bottom Line
Now that we’ve discovered the top factors that should be affecting your choice of a degree, let’s finally answer the main question. Is it really worth studying business in 2022?
The answer is yes! Selecting this major can enable you to receive an in-demand diploma, acquire broad knowledge across different fields, and shape a strong set of skills that can be applied across various fields. At the same time, with such an education, students can unlock a huge number of career opportunities in a high-paying industry that is growing beyond the national average.