Business is everywhere. It runs everything from the economy to your dental clinic. According to the U.S. Bureau of Labor Statistics, occupations related to business and financial operations are bound to grow by about 7% in the decade 2018-2028, which is faster than the average for other occupations. This equates to about 600.000 thousand new jobs in the US alone, ensuring that there is no deficit of jobs for business majors in the nearest future. If you are still wondering “Why to study business?“, check out a few more arguments provided below.
Offers Great Career Flexibility
Business is a very versatile specialization that allows one to pursue careers like management or business consultancy, marketing, advertising, sales, trading, investment banking, logistics management, etc. This also means that students can decide which career to go for depending on which domain they develop a crush for. By the time they graduate, they can make their mind and enter the job market with some idea of who they’d like to become.
Offers a Deep Insight Into How This World Functions
When studying business, students get familiar with accounting and finance (taxation, payments, banking, investments, etc.), entrepreneurship, law, economics, sociology, human resource management. These areas have to do with very important issues, activities and processes that virtually any single individual is guaranteed to face at some point in life. Being knowledgeable about the inner workings of the society, economy, financial or legal system can be of great use.
It Helps Develop Valuable Transferable Skills
Apart from professional competences, business students acquire a very decent package of transferable skills: communication, leadership, and human interaction skills, critical thinking, for instance, efficient decision making based on data analysis, including statistical analysis, problem-solving, presenting and reporting skills.
Written reports are very common in business programs and might require literature research, data analysis, the use of appropriate terminology. Apart from that, producing a good report or a business case study requires basic writing skills – without such skills you won’t be able to fully capitalize on your effort in other areas of a project. One way of training these skills is by choosing various essay writing topics and expanding on them while also learning about the different aspects of efficient writing.
Offers High Salaries
The business has been traditionally associated with higher salaries compared to the budget sector and this is true for the vast majority of countries. For instance, companies view compensation and bonuses as a key instrument to increase their employees’ motivation and provided their profit is good, they are ready to share more of it. On the other hand, many of the mentioned jobs revolve around key areas that witness significant money flows, which again explains the higher salaries.
While there is a great number of high-quality online business courses out there, the truth is that a real college always beats an online course in terms of how many valuable contacts you can make. In college, every single professor or assistant is a potential contact. Also, don’t underestimate your peers – these are your future colleagues or partners, whose combined expertise will greatly outweigh yours. Make contacts since being able to ask someone for valuable advice is priceless, especially for a young employee or for someone who tries to enter a new field. In addition, a great number of colleges send their students for short internships in companies, organize rotations, etc.
To conclude, a business degree comes with many advantages in terms of the knowledge obtained, the skills acquired, but also considering the financial aspects and job security. The growth in jobs is explained by the strong demand for traditional occupations, such as accountants and auditors but also by the recent expansion of newer areas, such as data analysis to predict product demand and customer behavior, which ensures a growing demand for market research analysts.
Emma Runde is an expert in digital marketing and a small entrepreneur. Her company offers online business education solutions for non-professionals as well as for active employees. She also offers free counseling to college majors who seek to open their own startups.