5 Business Degrees To Pursue in 2023
When it comes to several degree options in a field, business degrees take the cake. If you want to work in the corporate sector, there are tons of business degrees you can choose from.
Some business degrees provide you with general skills to work in the business industry, while with other degrees, you can specialize in a specific business area like finance, marketing, etc.
These degrees are popular all over the world, particularly in universities in North Carolina, where you can choose from a hundred different majors.
The best thing about acquiring a degree in business is that these degrees equip you with a versatile skill set that helps you in professional and practical life, no matter the type of industry you serve in. You gain transferable skills and knowledge that help you work exceptionally well in every kind of job.
Here are five business degrees that you can pursue that will dominate the business world in 2023.
1. Masters in Business Analytics:
A successful business focuses on consumer needs and consumer relations. When an organization knows what its consumers prefer, it can make better business decisions that improve customer experience and increase profits.
All this is only possible when the business makes data-driven decisions. And that is where the role of data analytics comes in. With a master’s degree in data analytics, you will gain in-depth knowledge and expertise in data analytics that will lead you to provide your professional services in decision-making in a business.
You can even earn a master’s degree in business analytics with online programs offered by reputable institutions. For example, if you are looking for options to enroll in a business analytics program in North Carolina, you can enroll in online master’s programs offered by UNCW.
This degree will open many doors for you by making you an expert in data analytics. Business analysts are in high demand nowadays, as BLS reports that there will be a 39% increase in employment in business analytics jobs by 2024.
2. Masters in Financial Management:
With a master’s degree in financial management, you will be able to help organizations, firms, governments, and individuals to manage their finances properly.
Of course, finances are a part of every business; thus, every business needs an expert who can advise about and look after the company’s finances. Even individuals need counseling regarding money management.
You can work as a personal financial advisor as well, with a master’s degree in financial management.
In this job, you will provide consultation to private individuals about money management, retirement plans, and financial planning in general. This degree is the best option for you if you want to work in the business sector but still be your boss.
As financial advisors can work with any business or firm they want to. There is a lot of flexibility in this job, and most financial advisors freelance as third-party consultants. In 2021, the average yearly pay of financial advisors was $94,170.
3. Masters in Business Administration:
Getting a degree in business administration, whether a master’s degree or even a bachelor’s degree, i.e., an MBA or BBA, will open up many career paths for you. With a master’s in business administration, you can work in the capacity of office manager, human resources manager, project manager, etc.
The best thing about getting a degree in business administration is that it will equip you with all the relevant knowledge you need in almost any aspect of a business.
The business administration degree programs are designed in such a way that they include practical knowledge of every field of business. So with this degree, you will obtain skills and knowledge in accounting, sales, information systems, advertising, marketing, etc.
Thus, if you don’t want to confine yourself to a single area in business and want to work in any business-related area you want, an MBA or BBA is the best option. You will also be able to earn higher salary jobs with this degree.
For example, as a project management specialist, you will be able to earn an $82,702 yearly average income. And in the next ten years, the growth in this occupation is projected to be 6%.
4. Bachelor in Accounting:
With a bachelor’s degree in accounting, you can work as an accountant. Accountants surely have the biggest responsibilities when it comes to businesses. Accountants are responsible for auditing majorly, but they also perform several other key tasks.
Accountants prepare financial reports, process payroll checks, keep financial records of all types and all activities, audit statements for discrepancies, and submit tax forms, etc. Skilled and expert accountants are highly in demand in every sector.
As an accountant, you can work with small businesses, non-profit organizations, schools, large corporations, medical groups, public sector institutions, etc.
You can also specialize as an auditor and work with government agencies or any industry you prefer. Every industry needs auditors. While pursuing this degree, you will study finance, cost, tax accounting, etc.
You will also learn to use accounting software, write financial statements, navigate tax laws, audit records to ensure an organization or business is operating with ethics and integrity, and so much more. Accountants earn a median average salary of $60,582 per year. And the projected job growth rate in this field is 4%.
5. Masters in Economics:
If there is any degree that provides an in-depth analysis of how markets work, business cycles, demand and supply variances, consumer behavior, revenue, and cost-benefit analysis, all at the same time, then it is a master’s degree in economics.
When you pursue a degree in economics, you get to study microeconomics and macroeconomics, which enable you to deeply understand the way producers and consumers behave and how markets and businesses can operate optimally.
Many business managers prefer employees who have a degree in economics. Various subjects that you will study while acquiring a master’s in economics, like international finance, entrepreneurship, research methods in business, etc., will enable you to work in different sectors.
If you are deciding which career path to take in the business field, you might find yourself confused because of so many business degree options. These five business degrees will rule the corporate sector in 2023. These are the degrees that will equip you with all the knowledge and skills you need to thrive in the business world.