Making the dollars make sense.
What is the highest paying job with a business degree?
You’ve got your mind set on an undergraduate degree in business. The next step: investigating what’s the best business major for you. If earning a top-tier salary is your #1 priority, majoring in business is a great choice.
Some of the most lucrative business major jobs are in the fields of finance, accounting, economics, and business analytics. And the highest paying business careers? Here’s just a small sampling of what you could take home after a few years of experience, according to the Bureau of Labor Statistics Occupational Handbook:1
- Financial Analysts – $99,890
- Personal Financial Advisors – $99,580
- Accountant or Auditor – $79,880
- Product Manager – $79,352
- Market Research Analyst – $74,680
- Project Management Specialist – $98,580
- Economist – $97,350
Can you make a lot of money with a business degree?
Business majors have the distinct advantage of entering a job market where their skills are in high demand. According to the National Association of Colleges and Employers (NACE),2 business graduates from the class of 2024 average 3% higher salaries than those of the class of 2023—up to $64,907 per year.
This breakdown of salary outcomes from the Federal Reserve Bank of New York3 shows that the highest paying business jobs entry level top out at around $66k. And it only goes up from there. For a general business major, some of the highest paying jobs in business management hit highs of over $85k by mid-career.
| 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 |
Advantage: You. What sector of business pays the most?
In a 2023 Forbes4 article, the top three highest paying business careers are in finance and banking, information technology, and healthcare.* A major in finance, business analytics, or even management could help you achieve success in these fields.
Some fun business jobs that pay well can also be found in emerging fields like marketing analytics, AI, corporate risk management, and entrepreneurship.
“Risk Management and Insurance is a great area to study for anyone looking to make the world safer, smarter, and more secure. Not to mention, with an 'average salary in Iowa’s insurance industry' being 'roughly $35,000 higher than non-insurance industry salaries,' (IEDA) one can make a difference in the lives of others, while also maintaining their own personal financial stability.”
At the University of Iowa’s Tippie College of Business, the most popular career choices by major are:
Accounting
- Tax Associate
- Assurance Associate
- Audit Associate
Business Analytics & Information Systems
- Technology Risk Consultant
- Business Analyst
- Financial Analyst
Economics
- Associate Consultant
- Operations Support Specialist
- Associate Broker
Finance
- Financial Analyst
- Investment Banking Analyst
- Credit Analyst
Management & Entrepreneurship
- Recruiter
- Business Development Representative
- Management Trainee
Marketing
- Account Executive
- Account Representative
- Business Development Representative
Can I make $100k a year with a business degree? You bet!
CEOs, CFOs, COOs bring home well over $100k per year. But is a six-figure salary worth the 80-hour work week you’re likely to put in? Keep in mind that it takes most professionals at this pay grade many years to rise to this level … and a lot of sacrifices along the way, including less time with family, less time for hobbies, more stress, and way more hours in the office.
But if professional fulfillment and reaching your salary milestones is your north star, then aim high! You can absolutely earn $100k (and then some) with a business degree. Just don’t bank on your first career being the be all, end all:
“I think the primary mistake many graduates make regarding their business careers is assuming that their first job out of college will be their dream job. In reality, it's often a balancing act between three key factors: the role, geographical location, and the company. Rarely do graduates find a perfect match on all fronts right away. I consistently advise students to prioritize gaining experience and refining their preferences through their first few roles.”
Ready to take the first step in your journey to the top?
Check out the lineup of business majors at the Tippie College of Business
Related articles
Sources
- U. S. Bureau of Labor Statistics. “Occupational Outlook Handbook.” April 2024.
- National Association of Colleges and Employers. “Salary Projections For The Class of 2024 Are Up From Last Year.” February 2024.
- Federal Reserve Bank of New York. “The Labor Market for Recent College Graduates” February 2024.
- Forbes. “3 Highest Paying Industries According to Research.” December 2023.