There are dozens of good reasons to choose a business major: to enjoy a clear career trajectory, to develop specific skills for use in industry, to work with fellow business professionals to build something greater than yourself. However, if most business majors were honest with themselves, they would recognize that the reason they are interested in the business field is because they want to earn a healthy paycheck.
If money is your goal with your major, you might be interested in learning which business majors give you the highest earning potential. Here are 10 business majors with some of the most sizeable paychecks, so you can make an informed decision about your future.
Marketing
A bachelor’s degree in marketing is a useful credential that qualifies grads for enviable positions within marketing teams. Courses in the marketing major train students to complete more complex marketing tasks, such as merchandising, researching consumer behavior organizing business campaigns and more. Generally, marketing majors can easily climb to positions within marketing management, earning them an average base pay around $115,000, but marketing grads can also find themselves in the c-suite as Chief Marketing Officers, with average salaries upwards of $344,000 per year.
International Business
An international business program covers a vast array of topics, from international politics to world cultures to practical business skills. Usually, grads with bachelor’s degrees in international business will work for multinational corporations, helping guide business strategy across markets. The pay scale for international business grads is wide, considering that they can fill many different roles in international organizations, but typically students in this field will earn an entry-level salary around $58,000. Fortunately, they have the opportunity to reach executive positions with relative ease, increasing their earning potential dramatically.
Accounting
Accounting isn’t notorious for being an exciting career — unless you feel thrilled by secure, stable and substantial pay. Accounting students are all but guaranteed jobs immediately upon graduation, and even entry-level accounting positions provide a relatively respectable salary of around $60,000. With regular raises, staff accountants can eventually earn upwards of $99,000, but many accountants advance into management, which can send their earning potential in different directions depending on their positions.
Logistics
The supply chain is only increasing in complexity, which means more businesses are coming to rely on logistics professionals to ensure their materials and products are where they need to be. Graduates of logistics programs can look forward to utilizing their knowledge and skill in economics, statistics, data analysis and more in specialist positions that can immediately earn them around $50,000, but with on-the-job experience and promotions into management, logistics experts can earn an average base pay around $114,000.
Finance
A finance degree program prepares students to work with complicated financial systems and products. Many finance grads work with financial institutions, while others find employment at companies with complex financial needs. There is a wide range of earning potential for finance grads, as the finance industry is large and opportunities are diverse. However, the typical role for finance students is a financial advisor, which provides a median annual salary around $94,000. Chief Financial Officers earn much more than that, of course, with an average base income around $426,000 and potential perks amounting to millions.
Human Resource Management
Until the singularity occurs, humans will always be the most numerous and most valuable assets within a company. Thus, every organization requires human resources management, ideally staffed by knowledgeable and skilled graduates of human resources degree programs. While low-level HR representatives might not have enviable pay, human resources managers take home a surprisingly hefty income of about $114,000. Often, directors of human resources can earn around $180,000, and at large corporations, Vice Presidents of Human Resources might be awarded an average base pay of $196,000 or more.
Entrepreneurship
Why take whatever paltry pay an employer is willing to give you when you have almost unlimited earning potential through your own business venture? Entrepreneurship programs equip graduates with the skills they need to take calculated risks in launching startups. Average income for entrepreneurs is difficult to calculate; so many entrepreneurs maintain day jobs as they search for business opportunities and strive to get their business ideas off the ground. Plenty of startups fail, many are mildly successful and a precious few are outrageously profitable, earning entrepreneurs millions or billions of dollars.
Money matters more than many college students suspect. If you are most interested in securing yourself a high-paying job in business, you might consider pursuing any of the above majors during your college career.
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