Business school. It’s taken hard work to reach this point, and there’s more work ahead. But what brought you here? Why business school? What’s your goal?
Getting your degree is one thing, determining the next step to your future career is quite another. Thinking through your goals and interests will help determine what’s the best business major for you, the best available business major jobs, and ultimately…
Which field is best for business?
Let’s start with jobs you can get with a business degree and their salaries. Hiring platform Indeed recently compiled a list of high-paying jobs available to someone with a bachelor’s degree in business.1 Some of the most lucrative include:
| National average salary | |
|---|---|
| Business intelligence analyst | $87,886 |
| Management consultant | $91,108 |
| Information technology manager | $96,607 |
| Financial controller | $97,717 |
| Regulatory affairs manager | $102,473 |
| Risk manager | $105,930 |
| Actuary | $120,164 |
| Chief operating officer | $136,532 |
| Chief executive officer | $136,754 |
| Chief financial officer | $144,563 |
What catches your eye? Do any of these roles align with your goals? If so, great! Start planning your business education around meeting that ultimate role and salary. If not, no worries. There are countless other available positions and a syllabus of classes to help get you there.
“Business school is a great opportunity to develop a versatile skill set that can set you up for success in future endeavors,” says Delaney Resnick, Marketing and Finance major at Tippie College of Business. “There are so many realms and industries that someone can explore while in business school to find what they are passionate about.”
Which is the best job in a business field? Yours.
For a moment, forget highest paying business careers. “Best” doesn’t have to be about dollars. It means different things to different people.
U.S. News & World Report2 compiled a list of best business jobs, noting upfront that “career satisfaction is subjective.” What's perfect for you may not be perfect for your roommate. U.S. News' ranking took into consideration future prospects, wage potential, employment, job safety and stability, and work-life balance. After compiling the data, the following roles were in the top 10 for best business jobs.
But, if you really need to know… what major makes the most money?
Maybe you care less about “best” and simply want to know more about most. Federal Reserve Bank of New York3 compiled a business careers list and salaries, including average income five years into a career. Business careers and their salaries were noted as follows:
| Median Wage Mid-Career | |
|---|---|
| Finance | $104,000 |
| Economics | $100,000 |
| Business Analytics | $100,000 |
| Information Systems and Management | $90,000 |
| Marketing | $85,000 |
| Accounting | $84,000 |
| General Business | $83,000 |
| Business Management | $78,000 |
With these numbers in mind, it’s important to have a conversation with yourself about “opportunity costs.” Is a six-figure salary worth the 80-hour workweeks you’re likely to put in?
Which business field is best for the future? Your future.
Look into the crystal ball. Think beyond next year or five years. What’s going to be the best business field far down the road? You don’t want a job that becomes a grind day in, day out. You’re looking for fun business jobs that pay well … a role that’s going to provide satisfaction in addition to a paycheck. A position that’s going to grow in importance in the coming years.
According to the U.S Bureau of Labor Statistics, these business fields will be some of the fastest growing occupations looking ahead to 2032:4
- Data scientists (with a project growth rate of 35%)
- Statisticians (32%)
- Information security analysts (32%)
- Actuaries (23%).
And don’t forget entrepreneurship. The business world is always looking for the next big thing that budding entrepreneurs have to offer.
“There are so many opportunities and different paths you can go down when you major in business.”
Maddie Pithan, Accounting major, Tippie College of Business
So which career is best for business? It’s the one that provides you with a lifetime of enjoyment, challenges, and income. It’s up to you to decide what that is—and for a business school like Tippie College of Business to provide you with all the necessary tools.
“Students can do a lot of things to prep themselves for a career in business by being intentional and planful with professional associations, certificates and licensure, leadership roles, volunteer opportunities, but also talking with professionals and alumni already in the field to better understand industry, roles, and trends.”
Discover the best business field for you.
Related articles
Sources
- Indeed. “21 High-Paying Jobs With A Bachelor’s Degree in Business” April 2024.
- U.S. News & World Report. “Best Business Jobs” 2024.
- Federal Reserve Bank of New York. “The Labor Market for Recent College Graduates” February 2024.
- U.S. Bureau of Labor Statistics. “Fastest Growing Occupations” April 2024.