Introduction
If you are looking to pursue a career that is both profitable and versatile, a business degree may be the perfect fit for you. Many students who study business are unsure of what direction to take their degree once they have graduated, but rest assured, the possibilities are endless. In this article, we will explore the top seven career paths to pursue with a business degree, how a business degree can help you achieve your career goals, the journey from a business graduate to a CEO, advantages of specializing in a particular area of business, the benefits of an entrepreneurial mindset, international opportunities for business graduates, and maximizing your earnings after completing a business degree.
Top 7 Career Paths to Pursue With a Business Degree
One of the biggest advantages of having a business degree is the variety of career paths available to graduates. Here are seven career paths to consider:
- Accounting: Accountants are responsible for financial reporting, tax preparation, and auditing. An accounting degree is a great option for individuals who enjoy working with numbers and have strong analytical skills.
- Finance: Finance professionals work with individuals or organizations to help manage their finances, investments, and assets. A finance degree is ideal for individuals with analytical skills and an interest in investments and financial markets.
- Marketing: Marketing professionals create campaigns, advertising, and promotions for businesses, products or services. A marketing degree is suitable for individuals who have strong communication, creativity and research skills.
- Management: Managers oversee individuals or departments, budgets, and projects within an organization. A management degree is ideal for individuals who have good leadership, problem-solving and organizational skills.
- Human Resources: HR professionals manage employees, recruiting, training, and employee benefits within an organization. A human resources degree is great for individuals who enjoy working with people and have strong communication and interpersonal skills.
- Operations Management: Operations managers are responsible for managing and improving the production and delivery of goods or services. An operations management degree is great for individuals who have strong analytical, problem-solving, and communication skills.
- Entrepreneurship: Entrepreneurs start and manage their own business ventures. A business degree provides individuals with the knowledge and skills to launch and manage their own business.
How a Business Degree Can Help You Achieve Your Career Goals
A business degree provides a strong foundation for a wide range of careers. Graduates gain knowledge of accounting, finance, marketing, management, and other areas within the business world. This broad expertise allows graduates to enter many different fields, especially at an entry-level, and gain experience in various roles. A business degree can also lead to leadership positions, such as a CEO, stating with entry-level options. Here are some examples of successful individuals who started with a business degree and achieved their career goals:
- Howard Schultz: The CEO of Starbucks, Howard Schultz earned a Bachelor of Arts in Communications and a Master of Science in Marketing from Northern Michigan University. Schultz started at Xerox Corporation before becoming a salesperson at a small coffee bean shop in Seattle and purchasing Starbucks in 1987.
- Mary Barra: The CEO of General Motors, Mary Barra earned a Bachelor of Science in Electrical Engineering from Kettering University and a Master of Business Administration from Stanford Graduate School of Business. Barra started as a co-op student at GM, working her way up the ranks and became CEO in 2014.
Journey from a Business Graduate to a CEO
It is not uncommon for business degree graduates to become CEOs. Many successful CEOs started in entry-level positions and worked their way up. A business degree provides graduates with skills in leadership, communication, and business knowledge that are essential for these positions. Here are some examples of successful CEOs who started with a business degrees:
- Jeff Bezos: The CEO of Amazon, Jeff Bezos earned a Bachelor of Science in Electrical Engineering and Computer Science from Princeton University and worked on Wall Street before starting Amazon.
- Ursula Burns: Former CEO of Xerox, Ursula Burns earned a Bachelor of Science in Mechanical Engineering from Polytechnic Institute of NYU and a Master of Science in Mechanical Engineering from Columbia University. Burns joined Xerox in 1980 as a mechanical engineering summer intern and became CEO in 2009.
- Bill Gates: The founder of Microsoft, Bill Gates earned a degree in Business, Economics, and Computer Science from Harvard University but did not graduate. Gates started Microsoft with his friend Paul Allen in 1975.
Advantages of Specializing in a Particular Area of Business
While a business degree provides a broad range of knowledge and expertise which can be useful in many areas of business, specializing in a particular area can lead to increased job opportunities and career advancement. Specialization provides a deeper understanding and skill set which can lead to job security and better pay. Here are some areas where specialization can be useful:
- Accounting: One can become a Certified Public Accountant (CPA) which is a highly desired specialization for accounting professionals.
- Finance: One can specialize in private wealth management or become a Chartered Financial Analyst (CFA) specializes in investment management.
- Marketing: One can specialize in digital marketing or become a certified professional in marketing (PMP).
- Management: One can specialize in project management or become a certified professional in supply chain management (CPSM).
The Benefits of an Entrepreneurial Mindset
A business degree can help develop an entrepreneurial mindset, which is valuable in any career. Individuals with an entrepreneurial mindset are innovative, creative, and take calculated risks. This mindset is becoming increasingly important in today’s economy as companies are more focused on innovating and adapting to change. Here are some examples of ways a business degree and its skills can help in taking calculated risks in business:
- Developing a business plan and conducting market research to ensure there is a demand for your product.
- Understanding financial statements and projections to make informed decisions about your business.
- Marketing your product or service to reach your target audience and grow your customer base.
- Networking and building connections to gain support and feedback from other business owners and professionals.
International Opportunities for Business Graduates
International experience can add value to your resume and set you apart from other candidates when applying for jobs. Many businesses are global, and therefore, require employees with knowledge of different cultures and languages. Studying abroad, participating in international internships, and working abroad are all great ways to gain international experience. Here are some real-life experiences of business graduates who gained international experience and how it impacted their careers:
- Daniel Patel, a finance graduate, spent a summer in London interning for a multinational investment bank. He gained experience working in a global team and understanding the markets in Europe. This experience helped him secure a position with a global bank after graduation.
- Jennifer Park, a marketing graduate, spent a year studying abroad in Paris. She learned French, gained valuable insight into European marketing trends, and made connections with international professionals. This experience landed her a position with a global cosmetics company in their international marketing division.
Maximizing Your Earnings with a Business Degree
While salaries for business graduates can vary by degree level, industry, and geographic location, there are several ways to maximize your earning potential after completing a business degree. Continuing education, such as obtaining a Master’s degree or certification, can increase earning potential. Networking with professionals in your industry can lead to better job opportunities and higher salaries. Here are some industries that have high earning potential:
- Finance industry: Investment banking, wealth management, and private equity firms
- Technology industry: Business and sales analysts, marketing managers, and product managers
- Consulting industry: Management consultants, financial consultants, and business analysts
Conclusion
A business degree provides graduates with a wide range of skills and knowledge that can be applied in many different areas of business. Pursuing a career in accounting, finance, marketing, management, or any other area of business can be a fulfilling and rewarding experience. Graduates can become entrepreneurs, CEOs, or specialize in a particular area of business. International experience, continuing education, and networking can also lead to better opportunities. With a business degree, the potential for success and career advancement is limitless.
