Look toward emerging tech, trends … and talent gaps.
The forecast: What major is the most useful for future?
How will you decide what’s the best business major for you? A great place to start is by considering which kinds of jobs will be around in 5, 10 … even 20 or more years.
Some of the best business majors for the future are in industries that continue to evolve over time. Yahoo!Finance1 predicts that AI, Fintech, Digital Marketing Software, Healthcare Predictive Analysis, and Data Science will be top fields for business in the future.
Some of the top degrees in demand for the future are the ones that will set you up for success in these rising industries. Majors like marketing, finance, and business analytics have integrated up-and-coming tech skills into their curriculum via some of the best courses for future jobs, like Marketing Automation, Computational Thinking, Cloud Computing, and Data Visualization. They’re a great place to start as you assess which major is best for you.
But there’s more to the story. What is the most useful major?
Both today, and in the future, there’s a world of opportunity in any business major. For example, a Bloomberg analysis of a Bureau of Labor Statistics (BLS) survey reports that there are 340,000 fewer accountants than five years ago—which means more job openings for newer majors.2 Don’t count out accounting as one of the best degrees for the future in 2025 and beyond.
“An accounting degree stands out as exceptionally versatile in the business world due to its widespread demand across industries. Graduates acquire fundamental skills in financial management, regulatory compliance, and strategic decision-making, rendering them indispensable assets in any organizational context.”
Which type of business has the highest salary? Think long term.
The National Association of Colleges and Employers (NACE) put together this helpful list of the top degrees in demand at the bachelor’s degree level.3 And while finance tops yet another list, many other business majors made the cut:
As you’re probably already noticing, finance consistently ranks as a top field in business—and is a pretty solid bet in terms of a business major. Not only are finance professionals in demand, they also command a top salary. The Federal Reserve Bank4 recently reported a median early career salary of $66k for finance majors, with a median mid-career wage of $104k.
Welcome to what’s new: Which subject is best for future career?
Still not sure that a “traditional” business major is for you? Some of the best majors for undecided students may be ones you haven’t heard of … yet. The University of Iowa’s Tippie College of Business just launched two new majors—one in Risk Management and Insurance, and another in Entrepreneurship. Both are growing fields with great opportunities to do interesting work that makes a meaningful difference.
Risk Management & Insurance
A degree in risk management and insurance prepares graduates for work in fields like cyber security, climate change, healthcare, technology & more. On average, salaries in the insurance industry in Iowa are $42,000 more than non-insurance salaries, according to the Iowa Economic Development Agency.
Entrepreneurship
An entrepreneurship major not only prepares you to turn your own idea into a business, it also empowers you to bring new ideas to the table within an existing organization. If you see yourself as a change-maker with an eye to the latest trends and innovations, an entrepreneurship major will teach you how to effectively put your ideas forward and drive bold new business strategies.
Which field is best for the future? The one that prepares you for it.
Define “best.” Does “best” mean the highest salary, the most job satisfaction … or does the best job for the future lean into new and emerging technologies?
As we mentioned in the intro, digital marketing software is an emerging field in business … and with a marketing major you can choose to lean into the technology and analytics side of this field. Indeed5 reports that marketing managers are some of the top-paying jobs in business, with a national average salary of over $70k per year.
AI, healthcare predictive analysis, and data science were also previously noted as top fields for the future—and there’s no better way to enter them than with a business analytics and information systems major.
“Business analytics is a field that is constantly evolving … to accommodate our students’ needs and interests, we have a set of core major courses that focus on fundamentals like programming, predictive analytics, databases, and professional skills. These are complemented by a diverse array of electives… including data visualization, cloud computing, cybersecurity, process automation, and even a new course on emerging technology and its role in business innovation.”
But you don’t have to stick to simply one major. If you thrive on team projects, collaboration, and mentorship, double majoring in management could take you beyond an individual contributor role.
“A Management major provides students with essential leadership tools and a solid foundation in business disciplines, preparing them for supervisory roles and offering room for career growth.”
With any business major, one thing you can bank on is a fun, challenging, and interesting career lies ahead. Whatever future you choose.
Interested in exploring more options?
Related articles
Sources
- Yahoo!Finance. “Top 20 Fastest Growing Industries in the Next 5 Years: Predictions.” February 2024.
- Bloomberg. “There are 340,000 Fewer Accountants, and Companies Are Paying the Price” March 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.
- Indeed. “21 high-paying jobs with a bachelor’s degree in business.” April 2024.