It pays to go where there’s job growth.
It’s nice to be needed: Which business major is most in demand?
You’ve set your sights on a business degree. Smart choice. Now it’s time to choose a major.
To build a decision tree that helps you determine what’s the best business major, you’ll likely weigh several factors: salary, job availability, work-life balance, and opportunities for professional growth.
While it’s a great idea to investigate the types of business degrees and salaries, looking at the highest paying business majors is only one piece of the puzzle. It’s just as important to explore where there will be job growth and open positions post-graduation. In a 2024 survey, the National Association of Colleges and Employers (NACE)1 listed business degrees as six of its top ten bachelor’s degrees in highest demand:
And what about job satisfaction? A recent Washington Post2 feature noted that jobs in real estate, finance, and administrative management offered an enviable balance of happiness and meaning, with lower stress reported.
What is the best thing to major in in business? Let’s get personal.
Business students choose their major for many different reasons. Maybe they were inspired by a family member in a particular field. Perhaps they’ve always had a talent for a certain subject and wanted to parlay that gift into a great career. Because there are so many fantastic business-major jobs, you really can’t make a wrong choice when it comes to choosing a major.
We surveyed several students at the University of Iowa’s Tippie College of Business to find out what drew them to their particular majors:
“My dad received his bachelor’s degree in accounting from Tippie, and I have seen that degree take him in so many different directions. I knew that a business degree would give me in-depth knowledge, but also the flexibility to do what I wanted.”
“In high school, I started my family’s 3D printing business on Amazon and Etsy. I became fascinated with the different ways to influence a customer's path to purchase: from analyzing key search terms and click-through rates to Amazon's algorithms and creating infographics about the products. I realized that these were all elements of marketing and went into college as a marketing major. As I began my core classes, I realized how interested I was in the quantitative and analytical piece that drives marketing efforts and decided to add Business Analytics & Information Systems as a double
“I appreciate the versatility and broad education that comes with an economics major. I can go into pretty much any field because a lot of what we are taught is how to look at things and how to solve issues."
“I would love to work in the makeup/cosmetic industry. I am double majoring in entrepreneurship and would love to own my own makeup company someday.”
“I chose finance because of my interest in working for a public company and what the value of a company means when assessing its profitability. My major in economics has helped me understand the markets and concepts like the federal reserve, interest rates, and more, which all affects the strength of a company during the best or worst of times.”
“I picked Management for my major because I knew I wanted to pursue the Event Management Certificate, and those paths are very similar. My advisor really helped me solidify management as my major when we were picking out the classes I needed to take during my four years at Iowa.”
“I chose Business Analytics & Information Systems (BAIS) and Marketing because of the synergy between the two majors and the combination of the arts with data analysis. My advisor helped me the most with my decision to add Marketing.”
“I knew I wanted to do finance, but realized I had room in my schedule to double major. My wonderful advisor helped me choose the Risk Management & Insurance (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.”
Which field is best for future business? Look forward, get ahead.
The Bureau of Labor Statistics3 projected employment for the next decade for the following business professions shows promising growth:
You might think of the "best business majors for the future" as those with the most potential for growth and an above-average salary.
But here’s more food for thought: Finance and banking, information technology, and healthcare were recently cited by Forbes4 as the top-paying industries in the nation.
And while you may not see an immediate connection between IT or healthcare and a business major, you might be surprised. Your business degree could help you land a lucrative role as a data analyst, healthcare manager, product manager, or medical director, just to name a few.
Drumroll, please: What business major should I choose?
Choosing the right major is a personal decision that prioritizes what matters—to you. So weigh your options, do your research, and go forth. The lucky thing: there’s really no wrong answer.
Looking for business major options at the University of Iowa?
Related articles
Sources
- National Association of Colleges and Employers. “Salary Projections For The Class of 2024 Are Up From Last Year.” February 2024.
- The Washington Post. “The happiest, least stressful, most meaningful jobs in America.” January 2023.
- U. S. Bureau of Labor Statistics. “Occupational Outlook Handbook.” April 2024.
- Forbes. “3 Highest Paying Industries According to Research.” December 2023.