More university students are choosing to major in business studies than ever before. As a result, countless exciting opportunities await these soon-to-be graduates.
People who wonder to themselves, “what can you do with a business degree?” ought to look in any direction for an answer. They will see a product or service being sold by a business practically all around them.
This might’ve given you a hint of how much people in the business sector earn. Business degrees provide a wide variety of job opportunities in effectively all industries.
In the past, the financial sector was the primary employer of business graduates. That’s changed in recent decades.
With the rise of multinationalism and digitization, an ever-increasing number of companies and organizations are looking for business graduates.
They believe business degree holders’ expertise can be vast. As a result, they can use them in a wide range of tasks in an increasingly versatile work environment.
Read on as we discuss the highest paying jobs in the business field:
Prospects Of Business Graduates
Graduates with a business background can quickly get jobs in private firms, public institutions, marketing agencies, banks, and more.
Since business majors have some of the highest-paying jobs, they disproportionately impact the political, social, and economic sectors, too.
So, it doesn’t matter what industry you choose to work in. Every company has a business component.
Studying business in college can help you make well-rounded business-related decisions. In addition, this knowledge is essential for accounting and finance-related roles.
Moreover, it can also help with various management techniques and guide you to start your own business.
When choosing what to pursue in college, people have particular preferences in mind. Fortunately, business degrees’ versatility allows you to enter whatever field you choose to.
Nor are these low-pay jobs. Instead, business students can look forward to high incomes after graduating.
People with business majors have an excellent opportunity to learn various business fundamentals before entering the corporate world.
Employers usually look for a diverse skill set that’s compatible with a variety of roles and industries. You can look forward to working in government institutions, non-profit organizations, and private firms.
Business schools’ interdisciplinary education helps students live up to these expectations.
Highest Paying Jobs In The Business Field
What jobs can you do with a business degree? First, of course, you would mostly be running the business activities of whatever sector you enter, whether that’s a big conglomerate or a suburban hospital.
Although it takes a while before fresh graduates begin making six-figure salaries, they will still have more room for career growth than people with narrow specializations.
So, to give you a clearer image of what awaits your career in business, here are some fields business graduates typically enter:
Business analysts observe and analyze market trends, offering recommendations for their clients or employers.
This position requires advanced business analysis skills, critical thinking, and exceptional communication skills.
If you love researching, compiling information, and recommending solutions, this job position can be an excellent opportunity to hone your potential.
A marketing manager examines external industry trends and develops marketing strategies and solutions accordingly. An internal team helps the manager achieve these objectives.
Marketing managers’ primary goal is to market products. Using their marketing and advertising skills, they engage with customers to generate specific outcomes.
But besides the practical advantages, marketing can transform your life at a personal level. The advertising sector’s exciting, fast-paced dynamics will require you to travel, attend several events, interact with celebrities, and participate in innovative technology trials.
Finance directors are members of the senior executive team overseeing the company’s long-term monetary growth.
They develop strategies for acquiring profits while supervising the company’s accounts.
Your salary would be contingent upon your level of education, work experience, and industry. Finance directors are also famously eligible for receiving generous bonuses.
As a result, their average salary hovers around $111,000 annually.
To land a job as a finance director, you will need years of experience in banking. In addition, stellar communication and time management skills are also expected.
Due to the high demands of this highly paid job, companies usually prefer candidates with their finger on the economy’s pulse, capable of foreseeing and pre-empting emerging market trends.
This is why you should preferably get a degree in Masters of Business Administration (MBA).
Regardless of the size and scope, every company starts with an entrepreneur. Then, they innovate business solutions to fulfill gaps in the market to revolutionize consumer behavior.
Taking a risk, they implement their ideas while assuming full responsibility as leaders of their startups. Think of Steve Jobs and how he introduced the smartphone market with the iPhone, thereby changing the world forever and solidifying Apple’s fortunes.
Initially, you will have no choice but to put in extra work and sacrifice several weekends and holidays to ensure your business runs smoothly.
This is no easy position to occupy; you must have a strong drive and tenacity to see your idea through. But, on the flip side, you will be your own master and could potentially reach the heights of success once your innovation takes off.
Portfolio managers help their clients manage their savings and wealth, offering key market insights for profitable returns on their investments.
In addition, they guide individuals and organizations with accomplishing their long-term financial goals, looking for investments that generate revenue and minimize debts and tax revenues.
Portfolio managers are given the massive responsibility of selling and buying investments on behalf of their clients.
Considering how much trust it takes on the part of the people handing you their cash, you can understand why years of prior experience and an impeccable academic background are necessary.
Naturally, this job carries risks, which it matches with high rewards as well. To succeed as a portfolio manager, you must be skilled with investment strategies, portfolio construction, and risk management.
You also require a bachelor’s degree in finance, coupled with a passion for reading and innovation.
Human Resource Manager
Human resource managers oversee the administrative processes of a company, specifically concerning employees.
Besides hiring new talent, they also supervise employees’ morale and manage any disputes. In other words, they act as a link between the management and employees.
To this end, HR managers have a lot on their plate. They manage all employee-related operations, such as recruiting, firing, and training.
In addition, generating payrolls, overseeing attendance, handling complaints, offering appraisals, giving warnings, conducting corporate events, and dispersing bonuses all fall within their purview.
Your duties wouldn’t end here. HR managers frequently consult with top management regarding talent acquisition and project implementation strategies. Evidently, this position would afford you a lot of power in any company.
It is no wonder then that the average pay for human resource managers is around $130,000 annually.
Sales managers are responsible for guiding and leading their own team of salespeople in a company. To this end, they build a sales strategy, assess data, set sales goals, and train their team members.
Constantly in contact with distributors and dealers of products and services, they assess their team members’ sales data and keep track of their customer’s preferences.
They aim to utilize this information to increase their total sales output. To succeed as a sales manager, you must possess an assertive, ambitious, and adventurous personality.
Sales managers are dominant, enthusiastic, motivational, and persuasive individuals that develop several plans and strategies to hit sales goals and improve struggling team members’ performance.
Chief Executive Officer
Chief Executive Officers (CEOs) are the highest-ranked executives in any organization. Yet, the only people CEOs are accountable to is the board of directors.
They assume responsibility for all major corporate decisions and have total control over the company’s direction.
A CEO’s role primarily depends on the industry, culture, and size of an organization. In larger companies, CEOs usually deal with strategic decisions regarding the company’s long-term growth.
In smaller businesses, CEOs participate in day-to-day activities that regulate their organization’s vision, culture, and tone.
Unsurprisingly, the average salary of a CEO is around $155,000 to $308,000 per year.
If you want to become a successful CEO, you must be not only collaborative, open-minded, transparent, and approachable but also have influential, relevant contacts and years of experience.
How To Know If A Business Major Will Be A Right Fit For You
Students pursuing a business degree must cultivate strong leadership and analytical skills within themselves. It will help you if you are also comfortable with making speeches.
In addition, sound decision-making, networking, and problem-solving skills are vital to succeeding inside and outside of an organization.
Business majors must nurture an impressive professional background to make it big. Start applying for internships in various business fields to gain hands-on experience before getting a proper job.
Get these small but vital work experiences to not only ascertain what segment of the market you do well in but also to make critical industry contacts.
Colleges Offering A Business Major
To get better job opportunities, you can get certified as a business professional or pursue a master’s degree in business administration to boost your qualifications.
Several colleges offer business majors. Choosing what school you go to is no easy task either, and you should look for professional advice before selecting one.
The right business school can groom you for the field of your choosing while simultaneously allowing you to get connected with essential industry leaders
Start Your Career In The Business World Today
Choosing a business degree will give you an in-depth knowledge of the business world. You will have a good understanding of the basic economic principles and how the financial market works.
Moreover, you will be able to analyze an organization’s financial health and make a better-informed decision regarding a company’s growth.
The corporate world offers some of the most highly-paid jobs, so it’s no wonder why so many pursue a business major.
With the right training, you will have all the abilities employers look for across the board. In addition, you will have several opportunities to nourish your personal and career growth to become an aspiring entrepreneur and business leader.
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