The business is world is constantly evolving. So it pays to look ahead when choosing your major.
What is the best business major for the future?
Choosing the best business majors for the future is a balancing act between understanding which industries are on the upswing and where your true interests and passions lie. The Department of Labor & Statistics projects over 911,000 job openings in business and financial occupations from 2022-2032.1 So no matter what your major, if you pursue a business education, you’ve got a great chance of landing a sweet gig.
In fact, 97% of business majors at the University of Iowa’s Tippie College of Business are employed or in grad school within 6 months of graduation. (That’s nearly 10% higher than the national average of 87.57% across the top-ranked business schools in 20242.)
911,000
Job openings predicted in business & finance from 2022-2032
Meet your match: What major is most useful for the future?
Putting your degree to use means aligning your major with your career goals and the type of work you like to do. Because of the high job placement rate for business majors, they can be one of the best majors for undecided students.
But how to decide what’s the right fit? Matching your interests and preference to a major will set you up for a happy (and successful) future. One quick caveat: You don’t need next-level math skills to become a finance major, or be a computer whiz to work in business analytics. With a strong enough interest in a particular field, you can always learn the tools of the trade!
Finding your fit
Here’s one way to approach finding your fit:
Superpower
"I thrive on understanding how money works, where and how to invest, and planning for the financial future of people and companies."
Major Match
Finance
Lowdown: Working in finance comes with its perks (high salaries) and pitfalls (long hours in the office). Most financial analysts put in between 50-70 hours per week, according to ZipRecruiter,3 with average salaries over $70k per year.4
Superpower
"I love solving puzzles, learning new ways of looking at problems, and using data to solve problems in interesting ways."
Major Match
Business Analytics & Information Systems (BAIS)
The Lowdown: BAIS majors are positioned to enter a huge variety of industries, from healthcare to finance to tech, education, marketing, even sports. It’s a well-paying choice with data analysts averaging salaries of around $73k per year.4
Superpower
"I get excited about what’s new and next—from the hottest brand to the latest social media trend. Understanding why people buy what they do and how to influence their choices fascinates me."
Major Match
Marketing
The Lowdown: From creatives to tech specialists to product marketers and project managers, marketing careers offer a variety of opportunities for all types of people. Director of Undergraduate Studies in Marketing & Associate Professor of Practice Tom Walsh explains that, “If you like doing something different every day, marketing is a great career choice.”
Superpower
"I have strong ideas about what’s right and wrong, and a keen eye for detail. I love looking into the numbers and finding out the story behind them."
Major Match
Accounting
The Lowdown: If you’re looking for a major with top job placement rates, look no further than accounting. Graduates in Iowa’s Accounting program see 98.8% placement rates and median starting salaries of over $65,000 per year. It’s a major you can bank on for continued growth and loads of opportunity.
Superpower
"The world is changing—and preparation is key. I like coming up with new and creative ways to solve problems. I’m committed to finding a role in business that helps people and makes a difference."
Major Match
Risk Management & Insurance
The Lowdown: RMI professionals work in roles that helps people and businesses protect themselves from unexpected financial risk, regulatory events, natural disasters, and more. In any industry, RMI professionals can add value by helping people protect their assets and prepare for the future.
“The RMI major is accessible to anyone. Those with a drive to creatively solve problems and develop their communication, analytical, and negotiation skills— along with financial acumen—will likely be the most engaged students.”
Superpower
"I’m fascinated by how and why decisions are made, whether in a society, by the government, or by individual people and companies. I love exploring what drives and motivates people to do what they do."
Major Match
Economics
The Lowdown: An economics major will prepare you for a career in research, government institutions, finance, banking, insurance, logistics, consulting, policy research. Plus, it’s a solid investment salary-wise. the American Economic Association7 reports that the average starting salary for Applied Economics & Management majors is $76,500.
Superpower
"I’m always on the lookout for what’s new and what’s next. I like to innovate and bring new ideas to the table. I could see myself starting my own company one day."
Major Match
Entrepreneurship
The Lowdown: An entrepreneurship major allows you to dip your toe into many fields of business to get a sense of how things work—and how you could change them for the better.
Superpower
"In my friend group, I’m the coach. I see myself as a leader. Helping others achieve their goals is as important to me as achieving my own."
Major Match
Management
The Lowdown: Management majors are uniquely prepared to take on leadership roles, as well as establishing careers in Human Resources—where salaries average around $70k per year, according to Indeed.4 If people are your passion, management could be just the right fit.
Which field is best for future business? Bet on tech.
When analyzing the best business major jobs, it’s wise to take a look at which industries are on the rise. Yahoo!Finance5 predicts that the following business fields will be the fastest-growing in the next ten years:
- AI (artificial intelligence)
- Fintech
- E-commerce
- Logistics
- Digital Marketing Software
- Healthcare Predictive Analysis
- Data Science
Choosing a major in marketing, finance, or business analytics will ensure you’re prepared to meet the demand of these emerging industries.
Which business major is most in demand?
The steady growth in business roles nationally indicates that you really can’t make a wrong choice when it comes to majoring in business. According to the Bureau of Labor Statistics,1 financial managers, management analysts, HR specialists, accountants, auditors, and managers are positions with the most predicted growth in the future. It follows that majors in finance, management, accounting, and business analytics have promising futures ahead.
Comparing the different types of business degrees and salaries is a great way to see how your major stacks up.6
What is the best thing to major in in business? There’s no wrong answer.
You can take the best business courses in the world in advancing fields like AI, virtual reality, and cybertech. You can join classes that cover consumer behavior, financial & data analysis, or global economics. But when it comes to choosing the “best” major, it’s all up to you.
Let’s hear from some real University of Iowa students on why they think their major is best:
”Having both the technical skills from the BAIS major and also an understanding and application of marketing efforts from has helped me prepare for a career as a marketing analyst or work in customer experience marketing.”
Molly Siebenalaer
“I came in as a finance major because of a class I enjoyed in high school. I took financial accounting during my freshman year and I loved it, so I added on the accounting major as well."
Riley Braksiek
“I picked analytics because it’s data and numbers based, which are my strengths. I am also going to pick marketing because I have enjoyed the intro class and am interested in consumer behavior and how marketing and analytics pair.”
Luke Weeklund
“I knew I wanted to do finance, but realized I had room in my schedule to double major. My wonderful advisor (Samantha) helped me choose the RMI major as my double. I knew it would pair well for the career I am pursuing, and it is easy to double major with finance."
Gavin Jenkins
“I absolutely loved my first year introduction courses for microeconomics and macroeconomics. I have always been math and science oriented and wanted to lean towards that with my business degree. I also knew that an economics degree could lead me to politics if I ever wanted to go down that path.”
Paige Reynolds
Future-focused: What is the best business degree to get in 2025?
Emerging trends in AI, technology, and analytics mean those with an eye toward innovation may be poised to succeed no matter what changes come our way. While predicting the top business degrees in demand in 2025 is an imperfect science, entrepreneurship is a major that will give you a high-level overview of many functions of business, with an understanding of how to lead change into the future.
Another emerging field is that of risk management and insurance. As climate change, inflation, and other risks continues to impact businesses across the globe, the demand for competent insurance professionals continues to climb. According to the US Census Bureau in 2021, 20% of the insurance workforce will reach retirement age in the next eight years. That means more room for young business majors to fill those roles.
What is the highest paid business major? Let’s run the numbers.
A business degree in any major is a great investment in your future: The National Association of Colleges and Employers8 reports that a business major's salary from the class of 2024 averaged 3% higher than the salaries of the class of 2023—up to $63,907 per year.
As for the highest paying business major overall, finance lies at the top, according to Forbes.9 A career as a financial analyst can land you an average salary of $74,547 per year, and while a Chief Financial Officer position could take many years to achieve, and require an advanced degree like a master’s in finance or an MBA, their salaries top out at $144,563.
In the end, what major is the happiest?
Earning a BBA in business can absolutely lead to a rewarding, happy career, according to Forbes.10 Business roles like real estate agent, market research analyst, engagement manager, and financial advisor rank at the top of the list for job satisfaction.
If you pursue a profession that aligns with your interest, has the right work-life balance, and keeps you motivated to continue to learn and grow, then happiness at work will follow.
Looking for your happy place?
Related articles
Sources
- U. S. Bureau of Labor Statistics. “Occupational Outlook Handbook.” April 2024.
- Poets & Quants, “All the Employment & Internship Data Reported in Our 2024 Undergrad B-School Ranking”, January 2024.
- ZipRecruiter, “How Many Hours Do Financial Analysts Work Per Week”.
- Indeed. “21 high-paying jobs with a bachelor’s degree in business.” April 2024.
- Yahoo!Finance. “Top 20 Fastest Growing Industries in the Next 5 Years: Predictions.” February 2024.
- Indeed. “15 highest-paying business majors, Occupational Outlook Handbook.” July 2023.
- American Economic Association. “Career earnings: What economists can expect to earn in different fields.” 2023-2024.
- National Association of Colleges and Employers. “Salary Projections For The Class of 2024 Are Up From Last Year.” February 2024.
- Forbes. “3 Highest Paying Industries According to Research.” December 2023.
- Forbes. “30 Careers with the Most Satisfaction.” November 2023.