What is the Average Starting Salary for Business Majors?

Pursuing a business major is one of the most popular choices for students and would-be entrepreneurs in the United States.

Despite being one of the most sought-after majors, it’s an excellent way for you as a candidate to land a secure and high-paying job. And although you don’t need to have a business degree to land a job, it helps you find a position that you want with a good salary and benefits.

This article will cover the pros of getting a degree in business, your job prospects, and the average starting salary for business majors in the US.

What is a Business Major?

Majoring in business is one of the most popular choices for students after graduating from high school. When you are a business major, you receive a broad overview of how the world of commerce works. From setting up your own business to learning about the “how and why” of failed ones, this degree helps you avoid common mistakes people make.

Not all people who major in business want to start their own business. Many people use it to apply for jobs in large companies. Regardless of your choice of work, being a business major comes with many perks and helps you understand the inner workings of many companies.

What are the Advantages of Majoring in Business?

There are multiple advantages to majoring in business nowadays. Some of these include:

• The flexibility to choose from numerous career options
• Having a base where you can open your own company or startup
• Receiving consistent training to build your work ethic and values
• Enjoying a higher salary and receiving better offers than a person who doesn’t have a degree
• Having the option to specialize later on, such as in business management
• Learning tools, skills, and methodologies to solve problems you’ll encounter daily
• Using the knowledge from your degree to work in virtually every country

One of the main perks of having a business degree is having an innate “eagle-eye” view of what you’re getting into before working at a company. For example, suppose you have an interview and receive poor treatment. In that case, you’ll notice many other details that give you a warning sign if the company is not a good place to work.

Another perk is that you can find a job in virtually any industry when you have a business degree. The flexibility and advantage of having a business major are hard to beat.

Are There Disadvantages to Majoring in Business?

A few disadvantages are possible when you want to major in business. One of those is the popularity of the degree. Since business majors study how the commerce world works generally, it doesn’t help you when a company requires a specialization. Moreover, since the degree is so popular, some employers are concerned about where you got the degree instead of how good you are. Although these two disadvantages exist, that doesn’t mean that pursuing a business major isn’t worth it. The degree remains one of the best for people who like flexibility and multiple options.

What Options Are Available When I Want to Specialize?

The good thing about having a business major degree is that you can specialize after completing your undergraduate degree. While you study in the initial four years, you’ll recognize what topics interest you more or a field that attracts you and suits your personality.

By having a business degree, you can choose what you want to focus on in the future and use your degree to land a niche job, for example. With so many options, you won’t have to worry about not finding a job in your field.

What Kinds of Business Majors Exist?

Business majors offer multiple degrees, depending on what area you want to concentrate on the most. Some of these options include:

• Finance
• Economics
• Sales and Marketing
• Business Analytics and Information Technology
• Human Resources
• Public Relations
• Digital Marketing
• International Business
• Accounting
• Supply Chain Management
• Administration

Because the field comes with many options, you have the flexibility to choose between traditional and modern careers. A business major can always find the best fit for their personality and interests, applying that knowledge to their job after graduating.

Bear in mind that although having a business major is excellent for your career prospects, don’t get one because it is “safe.” If you don’t have a genuine passion for what you want to study and later work in, try to understand what pulls you before sacrificing four years of learning it.

Is It Necessary to have a Business Degree to Apply for Jobs?

It depends on the job and what your daily tasks entail. Many companies don’t require that you have a degree to work, but others mandate it on the job description. If you want to work in a specific field, check online job posts to see what the companies are asking. If the majority don’t mention a degree requirement, it’s safe to assume that it won’t be an issue.

With that said, having a degree is better for you in the long run. Not many people had more than a high school degree in the past, so graduating from college was a significant perk when looking for a job. Nowadays, having an undergraduate degree is commonplace. That means you need to have more than a degree to land a high-paying job.

How Much Do Business Majors Make?

Your wage depends on location, company, and seniority. As per ZipRecruiter, the average starting salary for business majors in the United States is $50,070 a year, amounting to $24.00 per hour. The highest earners make up to $98,500 yearly, while the lowest earners make $21,500.

The Bureau of Labor Statistics places the average salary of people with a business degree at $65,000 per year. Based on your occupation, the BLS reports that you can make the following average median pay in these business careers:

• Accounting and Auditing: $77,250
• Budget Analysis: $79,940
• Adjusting Claims, Appraising, Examining, and Investigating: $64,710
• Cost Estimating: $65,000
• Fundraising: $60,660
• Human Resources Specialists: $62,290
• Management Analysts: $93,000
• Financial Advisors: $94,170
• Purchasing Managers and Agents: $74,510
• Training and Development: $61,570
• Meeting, Convention, and Event Planning: $49,470
• Logisticians: $77,030

As you can see, most of these careers have excellent earning potential. Moreover, they are diverse enough to allow anyone to pursue them – whether they prefer to work with people or numbers.

How Can I Find a Job as a Business Major?

If you’re all set to start your career as a business major, your first step should be to format your resume correctly. Once it’s ready, you can apply to jobs either directly through the company portal or using a job board.

Rocket Resume helps you craft the perfect CV to use when applying to business jobs. With intuitive tools that ask you the right questions, you’ll have a professional business resume in minutes.

All Rocket Resume templates quickly pass through Applicant Tracking Software, so you don’t have to worry about a lack of visibility from an ATS.

Are you ready to start your business career? Build a custom business resume today with Rocket Resume.