Highest Paying Business Degrees;-How valuable is college? As the costs of higher education and the weight of student debt become more and more apparent, this is an issue that is frequently raised.
The prevailing opinion is that attending college is worthwhile. However, the query is far too general and unclear to be of any value.
A website called Great College Deals is dedicated to assisting you in getting the most out of your college experience. We highlight universities that provide excellent values, and in the case of this post, excellent values in terms of degrees.
Science, technology, engineering, mathematics, and business degrees have the highest salaries among all the degrees offered at colleges and universities around the US. Frequently, the highest
The top 10 business majors, five at the bachelor’s level and five at the master’s level, are highlighted in this article. We include some background information on the kind of careers each degree program can lead to as well as the average salaries for each position in the highest-paying industries.
A high-paying business job can be yours if you make the most of your college degree and work experience, which is the topic of the FAQ at the end of the article. The degrees are arranged according to possible earnings.
Top 10 Highest Paying Business Degrees
1.Bachelor’s in Management
Management is at the top of our ranking of the best business degrees for lucrative careers. There are numerous options for business management majors. One is a business administration bachelor’s degree with a management concentration. There are also specialized degrees in management, some of which are more general than others. People with great management abilities have access to a wide range of job options.
You should think about a specialization, minor, or double major if you plan to work in certain management-related fields. It’s crucial to remember that while the majority of managerial roles only call for a bachelor’s degree, they frequently also need for five or more years of relevant professional experience. The list of some of the highest-paying managerial positions is provided below, along with
Manager of Computer and Information Systems: $146,360, 11%
Manager of Architecture and Engineering: $144.830, 3%
Manager of Finance: $129,890, 16%
Manager of Compensation and Benefits: $122,270, 3%
Manager of Fundraising and Public Relations: $116,180, 8%
You should either double major or major in engineering or computer information systems during your undergraduate studies and obtain a master’s degree with an emphasis on management if you wish to pursue careers as an engineering manager or computer information systems manager. While PR/fundraising should integrate management and communications, compensation and benefits managers should concentrate on human resources management. A management degree with a significant finance component is required for the post of financial manager (probably at least a minor).Top 10 Highest Paying Business Degrees
2.Bachelor’s in Marketing
The earning potential for a marketing bachelor’s degree is fantastic. Sales manager and advertising, promotions, and marketing manager are the two highest-paying positions you can obtain with a marketing degree and fewer than five years of experience. Currently, the average employment growth for sales managers is 5%, which is a little quicker than the average job growth for managers of advertising, promotions, and marketing (8%).
Despite the similarities between these jobs, there are several key distinctions. Managers of sales teams are in charge of overseeing groups of workers who are much more directly involved in customer sales. Managers of marketing, advertising, and promotions are more actively involved in creating the entire marketing plan.Top 10 Highest Paying Business Degrees
The following list includes the top five marketing careers in terms of pay.
Publicity/PR: $147,100
Enterprise/Company Management: $145,510
Technical/Professional Services: $145,300
Manufacturing:
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3.Bachelor’s in Actuarial Science
The use of financial theory, statistics, and math in risk analysis is known as actuarial science. The majority of actuaries work for insurance firms, creating the formulas used to determine premiums. Although actuarial science is not a requirement for becoming an actuary, it certainly helps. The majority of actuarial science programs structure their course content to help students get ready for the seven highly challenging exams needed to become actuaries.
There are advantages even though the degree’s applications may be far more limited than those of the other degrees on this list. Finding a job should be simple considering how challenging it is to become an actuary and the Bureau of Labor Statistics’ prediction of a 20% increase in employment between now and 2028. Top 10 Highest Paying Business Degrees
- Professional/Scientific/Technical Services: $110,960
- Finance and Insurance: $110,020
- Government: $101,740
- Company/Enterprise Management: $98,880
4.Bachelor’s in Mathematics
roles available for mathematicians, but the path from a mathematics degree to such positions isn’t always straightforward or clear. Mathematicians, engineers, and computer scientists are frequently employed by finance businesses to work on a variety of projects, frequently the creation of intricate financial instruments.
Statistics, probability, and complicated mathematical analysis are intensively used in modern economics. Anyone who wants to advance in the subject of economics must therefore have a solid grounding in mathematics. I would advise choosing a mathematics major and adding an economics minor or second major to it. Advancement in education is necessary to become an economist. Although most economists don’t have master’s degrees, it is a minimal prerequisite for entrance.Top 10 Highest Paying Business Degrees
5.Bachelor’s in Supply Chain Management
The typical annual pay for purchasing managers, buyers, and purchasing agents, who the BLS classifies as logisticians, is between $69,000 and $120,000. The top 10% of purchasing managers made over $193,400 annually. With this degree and little to no prior professional experience in the field, you can land a well-paying position. However, gaining work experience and obtaining a graduate degree both greatly increase your chances of progression.
Jobs for supply chain managers are projected to increase by 5% between 2018 and 2028. However, it is predicted that employment for purchasing managers, buyers, and agents will decrease by 6% during that time.
The foundation of the contemporary global market is supply chains. Coordination and management of a company’s supply chain are the responsibilities of supply chain managers. Major corporations frequently have a large number of supply chain managers in charge of managing various aspects of the entire supply chain. For the most part, a good supply chain is invisible. They never have to consider how the products they buy get to the shops.
However, managing supply chains, particularly those that are worldwide, presents numerous difficulties. One way that supply chains enter the public consciousness is through the ethical ramifications of workplace ethics around the world, for example. Another method is when supply chains are broken, making it impossible for individuals to buy the products they require or desire. Top 10 Highest Paying Business Degrees
6.Master of Business Administration
The most well-known and widely used advanced business degree is likely the MBA. The road to senior management and executive roles is through this degree. The MBA can be a fantastic option if you’re interested in advancing your career into roles like chief executive officer (CEO), chief financial officer (CFO), and other high-level management jobs. Since MBA programs typically include a wide range of advanced business knowledge, they are excellent for those who earned their undergraduate degree in a different discipline.
The MBA can provide you with the skills you need to succeed as a manager, for example, if you want to work in engineering or information technology and already have a bachelor’s degree in the area and job experience.Top 10 Highest Paying Business Degrees
7.Master’s in Finance
Because most of the greatest professions in finance require a master’s degree, we elected to focus on that degree over a bachelor’s. Professionals in finance can be found in every area of business, including commercial banking, personal financial planning, management of finances, public accounting, and financial analysis.
Finance is a complicated field that is challenging to quantify. The BLS doesn’t really have statistics for many of the highest paying positions and jobs, such as investment banker and fund manager, because they are also rather uncommon.
Even though remuneration varies by industry, financial manager is one of the highest paying positions in business. The median pay for finance managers in five of the biggest American industries is shown below.Top 10 Highest Paying Business Degrees
8.Master’s in Human Resources
A human resources bachelor’s degree is a terrific place to start your career, but the greatest jobs require both experience and an advanced degree. Recruitment, hiring, firing, mediating conflicts between employees and the company, and occasionally bargaining with labor unions or on behalf of labor unions are all facets of the broad field of human resources. Payroll and compensation/benefits are also under HR’s control.
A HR department is a must for every business to operate successfully, making it both a critical position requiring highly qualified personnel and one that is frequently available. The salaries of compensation and benefits managers and human resources managers are similar across the majority of American sectors. Top 10 Highest Paying Business Degrees
Services in the Scientific and Technical Fields: $131,340
Enterprise/Company Management: $129,510
Producing: $115,000
Administration: $102,660
$99,380 for healthcare management and social assistance
9.Master’s in Economics
A wide variety of applications and jobs can be found in the topic of economics. All economists are researchers to some extent. Researchers in academia or at think tanks frequently aim to influence economic policy, advance the field of economics, and address a variety of economic issues on a scale ranging from local to global.
While economists in a variety of fields continue to perform research, their attention is increasingly drawn to analysis and the application of economic theory to the formulation of financial reports and business plans. To improve economic policies, government services, and programs, economists who work for the government do research and analyze data. The five main fields where economists work and the average salary they may earn in each
Federal Government: $119,580 Finance/Insurance: $120,770 R&D: $114,140
Consulting in management, science, and technology: $108,190
Government of the State: $73,400
*With Postal Service excluded
Hospitals and education are not included.
10.Master’s in Statistics
You’re in an excellent position if you combine a master’s in statistics with any undergraduate business degree. Statisticians are needed in every industry. In contrast to almost every other profession, statisticians are expected to have a 31% rise in employment between 2018 and 2028, according to the BLS. The federal government, research and development in engineering, physical sciences, biological sciences, insurance, healthcare, and social assistance, as well as colleges, universities, and professional schools, are the industries where jobs are most frequently found. The top 10% of statisticians make over $146,770 annually. The following table shows the median incomes for their most frequent industries.Top 10 Highest Paying Business Degrees
$106,670 Federal Government
R&D in science, engineering, and biology: $102,500
$88,040 for insurance
Health/Social Services: $81,920
$74,370 for colleges, universities, and professional schools
FAQs
- What is the highest paying business major?
Business management is typically the most lucrative business degree. The typical starting pay for someone with an undergraduate degree in marketing is $73,000 per year, according to the website Payscale. The MBA, or master’s in business administration, is the business degree that pays the most, though. According to the same website, persons with an MBA start out with an average salary of $91,000.
- How much does a business major make right out of college?
Starting pay for business majors varies depending on the discipline. The typical starting income for a new Bachelor of Business Administration graduate is $69,000, while a new Bachelor of Science in Business Management graduate may anticipate receiving around $73,000 annually.
- Is a business major easy?
Any major’s overall difficulty will mostly depend on the student and the school. Your business courses will likely cover advanced mathematics, economics, management and organizational theory, and communication, among other topics, depending on the particular business subject being studied.
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