Highest-paid majors. Did yours make the list?
What is the highest paid business major?
Getting your degree doesn’t come cheap. Anything but. Tuition, books, hours, days, years. What’s the value of your time in the classroom? What's that blood, sweat, and classes worth? What’s the return on investment… and what’s the payback?
Let’s take a look at the worth of a business major and discover what the highest paid business major is, and even the top business degrees slated to be in demand in 2030. Did your major make the list?
What is the highest paid business major? Look at the finances.
When we talk about the highest-paying business majors, it’s important to look at the pay offered after graduation and then again years into a career. The Federal Reserve Bank of New York keeps statistics on the Labor Market Outcomes of College Graduates by Major. Not surprisingly, business majors appear high on the list,1 with Finance, Economics, and Business Analytics in the top 15, and Marketing, Accounting, and General Business following close behind.
| Median Wage Early Career | Median Wage Mid-Career | Tippie Graduate Median Starting Wage | |
|---|---|---|---|
| Finance | $66,000 | $104,000 | $60,000 |
| Economics | $65,000 | $100,000 | $51,000 |
| Business Analytics | $65,000 | $100,000 | $68,000 |
| Marketing | $50,000 | $85,000 | $50,000 |
| Accounting | $60,000 | $84,000 | $65,000 |
| General Business | $50,000 | $83,000 | $60,000 |
Is your major listed? If so, the numbers give you something to aim for or even exceed. If not, not to worry, career options (and pay) for each business major vary widely.
Which type of business has the highest salary? Think long term.
We’ve offered you a brief overview of which business majors have the highest salaries, but what about which businesses? What category of business offers the most pay potential? As you consider the best business major for you, let’s look at the highest paying business careers.
Indeed recently came up with a list of the most lucrative jobs in business.2 These high-paying positions “provide opportunities for growth and development (including through professional collaboration and organizational partnerships), which are beneficial for earning promotions and wage increases.”
Here are just three careers or businesses from the list that offer eye-popping numbers. Are any of these in your field of interest?
Director of Product Management
Do you want to oversee the development process for new items and services for a brand? Your responsibilities will include organizing teams, initiating research and marketing studies, and facilitating discussions between engineers, marketing professionals, and others.
$ 161,903
National average salary
Chief Executive Officer
You’ll be responsible for the financing, marketing, and planning of a business, as well as hiring and task delegation.
$ 136,754
National average salary
Corporate Controller
Take on the responsibility of analyzing and reporting the financial health of a company. You’ll lead the financial accounting departments and command fiscal responsibility.
$ 125,300
National average salary
So demanding. Which business major is in most demand?
You want a job after graduation, and the sooner the better. You want a job that will pay dividends now and in the future. So what are the best business majors now and the best business majors for the future? The National Association of Colleges and Employers (NACE) put together a salary survey3 that includes top degrees in demand at the bachelor’s degree level. Financial whiz kids and future CPAs will be pleased to know that Finance and Accounting led the way. The complete top 10 list is noted below:
Can I make $100k a year with a business degree? Work on it.
Short answer, yes. Maybe not right out of the gate. It may take a while. It may take hard work, and drive, and a promotion or two. But yes, you can make $100k a year as a business major.
What are the highest paying business jobs at entry level? The numbers and bullet points listed above will give you a general idea…and also show you what’s possible as your career progresses.
Is “highest paid” something to aspire to? Sure. Is it the be all, end all? Absolutely not. It’s worth spending just as much time thinking about the major that’s going to point you toward a career that not only provides financial satisfaction, but also give you emotional well-being.
“Rarely do graduates find a perfect match on all fronts right away,” says Cindy Meis, Director of Undergraduate Career Services at the University of Iowa's Tippie College of Business. “I advise students to prioritize gaining experience and refining their preferences through their first few roles.”
“Highest paid” is more than just dollars and cents.
Interested in a great value from Iowa’s top-ranked business school?
Related articles
Sources
- Federal Reserve Bank of New York. “The Labor Market for Recent College Graduates” February 2024
- Indeed. “31 Most Lucrative Jobs in Business” April 2024
- National Association of Colleges and Employers. “Salary Survey” Winter 2024