Table of Contents
- 10 things you should know about a business degree:
- What Exactly Does a Business Degree Mean to You?
- It’s Never Too Late for a Late Start
- Consider the Money
- Get Certified
- Consider an MBA rather than a Biz Major
- Maybe prepare to get tested
- Be Tech Savvy
- It’s a Global World
- Talk the Necessary Talk
- Stop, Listen, and Collaborate
The business degree is regarded as one of the most popular types of degrees offered in American colleges. Based on the National Center for Education Statistics, out f 1,895,000 bachelor’s degrees conferred in 2014 and 2015, 364,000 were business degrees. Basically, various business degrees account for the largest number of bachelor’s degrees awarded every year.
So, what is a business degree, and is it right for you? For such a degree, there are a number of questions you may consider. Should you pursue a Business Administration or Business Management Degree, or some other specialization areas like human resources, economics, or information technology?
What types of jobs will you qualify for, and what type of salary could you earn with your business degree? Is it okay to advance toward an MBA or some other graduate-level business degree? In all, what can you do with a business degree?
You need to know about the critical aspects of a business degree before getting one. Business is a pretty vast and encompassing term. If you’d like to learn more about a business degree, check out the list below.
10 things you should know about a business degree:
What Exactly Does a Business Degree Mean to You?
Most bachelor’s degree programs begin with the same basic building blocks, including business theory, organizational management, and micro-and macro-economics. You will be able to hone your focus as you progress with the course. If you see yourself as a self-starter, you should consider classes in entrepreneurship.
However, if you see yourself or hope to become a leader in a large corporate enterprise, you should consider courses on organizational psychology and corporate ethics. Or do you view yourself as an innovator? You should consider courses in organizational transformation.
A business degree can mean many things. There are several different kinds of business degrees, including business management, business administration, among others. They carry their requirements and areas of focus. Don’t rush anything.
As you better understand how you’d like to channel your business degree, ensure you work with your advisors or professors to develop an academic program that suits you. Also, it may take you 2-4 years, depending on the degree’s requirements.
It’s Never Too Late for a Late Start
Business degrees are common among traditional college-age students. However, non-traditional students or adult learners are becoming a part of a growing population of online students. Therefore, more schools should serve students who already have some real-world experience.
Essentially, many students will benefit if they consider going to college for a business degree, especially to attain the knowledge and credentials to advance in their field. Also, it can provide insight to further their enterprises or gives them the freedom to change career paths.
It would be best if you did not let your age deter you from furthering your business education. Also, don’t presume that you can’t still achieve more incredible things using a business degree because you have been successful in your field.
Consider the Money
Earning a good living in business can come at pretty high. Indeed, on its surface, business is mainly about wealth creation. Basically, a degree in business or an MBA can offer a clear path to an excellent career in business or different other fields with high earning potential.
However, this is also where the sheer popularity of the business degree can seem like a drawback. How? Remember that this degree places you in a massive pool with tons of other candidates, almost 400,000 more every year. How can you avoid getting choked with the flock? Remember that the median salary can differ significantly for various business-related roles.
You may review the stats from the Bureau of Labor Statistics to know which are among the better-paying roles in business. Afterward, set your sights on the one that best combines your passion and skills with your desired earning potential. Additionally, remember that there are extra steps you can take to enhance your earning potential.
However, that while it can make you more money, it may also cost you some money to earn.
You can pursue professional certificates, either general or specific to your specialization area. A certificate is typically conferred to show that you have met basic qualifying standards — demonstrating specific professional skills, knowledge, or specialized training.
This should help highlight special marketable skills in IT, human resources, and Six Sigma management. In some cases, these certificates may even be required for you to push past a certain hierarchical threshold in your organization or industry. In line with your intended area of focus, find out the certificates you might benefit from or need to get. Such a certificate can help you land a new job or push you upward within your organization.
Consider an MBA rather than a Biz Major
If you want other ways to raise your earning potential or boost yourself within your organization or field, you should consider getting an MBA. Like certificates, the MBA could make you outstanding from other candidates in the job market. It is more appealing because it can create pathways for advancement for those already working.
If you are a working professional with the desire for a new set of skills, ways to update existing skills, or credentials to push through to the next level in your career, an MBA could get you there. In addition, many employers are willing to provide financial support to employees interested in acquiring new skills and credentials for the company’s long-term benefit.
So, you can talk to your employer if this is something you want to pursue. Also, you don’t have to worry if you majored in communications, accounting, or even graphic design during your undergraduate years. You don’t have any problem if you want a business degree, as many MBA programs seek candidates with diverse interests and experiences.
Maybe prepare to get tested
If you are considering an MBA, you may be required to pass the GMAT or GRE, depending on where you decide to earn that advanced degree. You may find either of the standardized exams a barrier to entry before working toward your master’s degree in business.
If you like taking tests, this may not be much of a concern for you. However, if you aren’t a fan of standardized testing or exams, there are a few things to note. First, if you’re an adult learner with some real-world experience, some colleges or universities may allow you to forego the GMAT or GRE.
This is often determined on a case-by-case basis and is something you may need to determine with the assistance of an advisor. Second, some excellent colleges and universities eschew these standardized tests altogether, offering students top-notch MBA Programs, no GMAT required.
Be Tech Savvy
While standardized testing may be optional in some cases, technology is usually not. The upsurge of web technology, cloud computing, and mobile communication devices has perpetually remodeled the business landscape. Being tech-savvy is no longer considered a bonus in business. It is a requirement.
It will help you become comfortable with the essential functions of a computer and smartphone, capable of using web resources to get credible information. Therefore, prepare to navigate technology with awareness of the security risks and get the basic skills needed to telecommute where necessary.
As adult learners who lack the formative experiences with this technology, as have millennial students and job candidates, this is critical. You’ll need it to survive and be relevant. Ensure that the process of earning your business degree, at any level, includes a healthy dose of practice with the appropriate technology.
It’s a Global World
Technology has opened up the world, erasing borders between nations. Business is executed across time zones, through language barriers and different cultural lenses. Many of the topmost business degree programs offer a significant academic focus on subjects like globalization, intercultural business etiquette, and multinational corporate organizations.
Some programs also give you the chance to study business abroad. These are significant opportunities and experiences and may help prepare you for an increasingly diverse, interdependent, and global business community.
Talk the Necessary Talk
Basically, a job in any business capacity requires you to be a social animal. Effective communication is essential in business. Your ability to express yourself verbally and in a written medium is essential to your success. You may need to do presentations or write reports.
You might need to develop a sales pitch that your team members will ultimately use out in the field. There are different ways to do business. However, your talent at crafting and delivering a message and even reading and taking cues from partners, colleagues, and clients, is crucial to your success.
A business degree offers you certain opportunities to practice business writing and public speaking. Ensure you use those opportunities and be good at them.
Stop, Listen, and Collaborate
Don’t forget how important it is to play well with others. Business is all about collaboration, partnership, nurturing relationships, and fostering shared opportunities. It would be best if you did not do it alone. Try to get good at working with others.
Sometimes, this may require working on a team of equals or delegating responsibilities to others. Also, if you’re starting, it means knowing how to work under the authority of others in most cases. This is true whether you have a fantastic boss or a cartoonish supervillain.
Basically, be ready, willing, and able to work with and for all personality types. While pursuing a business degree, ensure you pay close attention to subjects like I/O Psychology and organizational culture. This will help you better understand human behavior within organizations while you gain the skills to navigate this behavior and forging successful working relationships.