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Business: A Popular College Major Option Now More than Ever
Business administration encompasses all principles, processes, and methods used in effectively running the operations of an enterprise or organization. Ever since people first learned how to trade goods and services, the concept of business administration has existed. As the world of commerce continues to grow and diversify into countless permutations, so will the study and practice of how to properly manage a business.
It’s safe to say that as long as there is business, there will always be a need for managers. Business schools certainly agree. In the United States alone, there were a total of 365,093 bachelor’s degrees in business conferred by various colleges, universities, and business schools in 2011, according to the National Center for Education Statistics website. As for MBAs, 187,213 degrees were awarded in the US in the same year. The numbers seem to be rising every year — the 2011 statistics for bachelor’s degrees and MBAs are improvements from the previous year’s figures. Not surprisingly, year after year, business administration degrees rank consistently in the top five most popular degrees students pursue.
Because the world of business is very multi-faceted, students who want to major in a business degree have a wide range of program options to choose from:
One great advantage of majoring in a business degree is that it offers better advancement opportunities. This is especially true for those who graduate from business administration, international business, and marketing programs — after graduation, they can find work as management trainees, assistant managers, supervisors, or in some cases, as department managers if they’ve had prior experience. In a few years’ time, earning a business degree could help you get promoted to higher-level and more rewarding positions.
Lastly, a career in business has always been a high-earning occupation, at least in comparison to most professions. According to the Bureau of Labor Statistics (BLS), median annual salaries of business- and finance-related occupations range from $45,000 to $78,000 a year (figures as May 2010). MBA graduates who go on to become top executives may earn a median annual salary ranging from $75,000 to $166,000 (as per BLS, May 2010).
Business programs are widely available in colleges, universities, and business schools across the United States. Search for accredited institutions offering accredited business degree programs near you by using the search panel on the upper left hand corner of this page.