Written by: Anirudh Mannattil
A business degree is indeed respected and ranks among the most popular degrees offered by most universities globally. Indeed, this popularity boils down to one simple reason; business degrees have always been viewed as a surefire method of gaining employment, simply due to the variety of skills graduates are equipped with as they enter the workforce. Be it a law firm, a pharmaceutical company, or even a research corporation, good and solid business is clearly one of the key aims of a company, and business graduates are often involved in the day-to-day operations of several departments of any company. Today, let us discuss some of the most popular business majors in which students choose to graduate, the main reasons why as well as the type of skills and jobs available for each major.
To begin, let us discuss Finance, an extremely coveted business major. Finance is the subset of business that deals with assets and equities. Clearly, there is a huge emphasis on analytical skills and strategic thought processes, since these are required to arrive at critical business decisions. Other areas covered include management, investment, and the relations between businesses and financial markets. The median salary for finance graduates has been around $87,586 and common job titles post-graduation and beyond include finance associate and financial advisor for entry-level candidates while their mid-level counterparts can safely aim for roles like hedge fund investment strategist and financial analyst. Indeed, it is no wonder that finance is so popular given the high starting salary and interesting job scopes offered by different positions within the department.
Next up, observe how Accounting has remained a standard choice for several aspirants who wish to break into business, albeit from a commonplace entry point that is Accounting. Accounting might remind you to keep track of accounts such as log books, excel sheets, charts, etc. Though this is indeed a critical aspect of Accounting, most experts view the field as a guide for business decisions in general. An accountant has a role in his firm that carries significant weight, as his insights are often used to build the company's future. The common prospects for accounting graduates include accounting associate, accounting representative, and staff controller for entry-level job-seekers, whereas those wishing to change careers mid-way can consider titles such as forensic accountant, securities analyst, management accountant and controller. Taking into view the statistic that the median salary for accounting graduates is $68,713, this track is indeed a suitable one for several students.
Thirdly, Marketing is a business major which must be mentioned without fail in the midst of this discussion. Marketing is a commonplace term, but what exactly is marketing? The simplest definition of marketing is that it is an area of business that marries business goals with consumer needs. Manufacturing a product isn't enough; you must ensure that it is available on the market and word is spread far and wide on the several benefits of using your offerings. Marketing students often learn how to analyze and interpret consumer behavior, and use communication effectively to reach prospective customers and build stronger ties with existing ones. The usual roles which these students enter after university include social media marketer, marketing associate, and assistant media planner, whereas they can choose to switch to market research analyst, marketing manager, and digital marketing specialist roles in the middle of their career journey, making it a versatile career choice with freelance opportunities and a median starting compensation of $55,432.
Last but not least, mangement information systems might seem as a relatively new major that is uncommon, but is a terrific choice for several students. This major combines data mechanisms with decision-making, and is the study of using information technologies such as data science and business analytics to arrive at business decisions. This major is most suitable for those who incorporate analytical thought frameworks into their work, and are fans of technology. IS Managers, Operations Research Analyst and Business Analyst are the most common job titles for entry-level graduates whereas as they progress further in their careers, they can aim for roles like director of IT or business intelligence analyst, all with a median starting salary of $65,017.
Indeed, business is a popular degree choice and several students wish to adopt a track in business studies. Hence, the aforementioned information might suit those of you looking for opportunities to build a business career.
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