7 Types of Business Majors You Should Know About
Are you interested in pursuing a business degree but not sure which major to choose? Business is a broad and diverse field that offers many opportunities for graduates. However, it can also be overwhelming to decide which area of business suits your skills, interests and goals. In this article, we will explore seven types of business majors that you should know about and what they entail.
1. Accounting
Accounting is the study of how businesses record, measure and communicate financial information. Accounting majors learn how to prepare and analyze financial statements, audit financial records, manage taxes and advise clients on financial matters. Accounting is a popular and lucrative major that can lead to careers such as accountant, auditor, tax consultant, financial analyst or controller.
2. Finance
Finance is the study of how businesses and individuals manage money and make investment decisions. Finance majors learn how to evaluate financial markets, assess risks and returns, create financial plans and portfolios, and apply financial theories and models. Finance is a dynamic and challenging major that can lead to careers such as financial planner, investment banker, financial manager, analyst or consultant.
3. Marketing
Marketing is the study of how businesses create, deliver and exchange value with customers and stakeholders. Marketing majors learn how to conduct market research, develop marketing strategies, design and implement marketing campaigns, and measure and improve marketing performance. Marketing is a creative and strategic major that can lead to careers such as marketing manager, market researcher, brand manager, advertising manager or social media manager.
4. Management
Management is the study of how businesses organize, coordinate and direct human and material resources to achieve goals. Management majors learn how to plan, organize, lead and control various aspects of business operations, such as human resources, operations, project management, quality management and organizational behavior. Management is a versatile and practical major that can lead to careers such as manager, supervisor, consultant, entrepreneur or administrator.
5. International Business
International business is the study of how businesses operate in the global environment. International business majors learn how to deal with the complexities and challenges of doing business across borders, cultures and legal systems. They also learn about international trade, finance, marketing, management and strategy. International business is an exciting and diverse major that can lead to careers such as international business manager, trade specialist, global marketer or consultant.
6. Entrepreneurship
Entrepreneurship is the study of how individuals identify, create and pursue opportunities in the market. Entrepreneurship majors learn how to generate innovative ideas, evaluate their feasibility, develop business plans, secure funding and launch new ventures. Entrepreneurship is an adventurous and rewarding major that can lead to careers such as entrepreneur, business owner, innovator or investor.
7. Export Management
Export management is the study of how businesses export their products or services to foreign markets. Export management majors learn how to identify export opportunities, analyze export markets, develop export strategies, comply with export regulations and manage export operations. Export management is a specialized and valuable major that can lead to careers such as export manager, export coordinator, export consultant or trade representative.
These are just some of the types of business majors that you can choose from if you are interested in pursuing a business degree. Each major has its own advantages and disadvantages depending on your personal preferences and career goals. Therefore, it is important to do your research and compare different options before making a decision.
Types of Business Majors and Their Global Demand
Business is one of the most popular and versatile fields of study, offering a wide range of career opportunities for graduates. However, not all business majors are equally in demand in the global market. Some areas of specialization may have more growth potential, higher salaries, or better job satisfaction than others. In this blog post, we will explore some of the most in-demand business majors for 2023 and beyond, based on data from various sources.
Finance
Finance is the area of business that deals with assets and capital, such as investments, banking, and risk management. Finance majors learn how to analyze financial markets, manage portfolios, and advise businesses on financial decisions. According to a survey from the National Association of Colleges and Employers (NACE), finance is the most in-demand business major for bachelor’s degree holders, with an average starting salary of $87,586 . Finance graduates can work in various sectors, such as corporate finance, financial services, consulting, or government.
International Business
International business majors learn how to operate in the global marketplace, bridging cultural, legal, and economic differences. They study topics such as global finance, trade, marketing, and supply chains. International business majors are in high demand as the world becomes more interconnected and businesses seek to expand their reach and leverage emerging markets. According to EU Business School, international business is one of the most in-demand business degrees for 2020 and beyond, with an average salary range of $45,000 to $122,000 . International business graduates can work in multinational corporations, international organizations, or start their own ventures.
References:
http://dspace.lib.cranfield.ac.uk/bitstream/1826/11448/3/Impact_and_Management_Research-2017.pdf
https://www.usnews.com/education/best-global-universities/economics-business
https://www.usnews.com/best-colleges/rankings/business-marketing
https://www.euruni.edu/blog/most-in-demand-business-majors-2020-2021/
https://www.coursera.org/articles/best-business-majors
https://www.weforum.org/agenda/2021/02/most-in-demand-jobs-2021/
https://www.bls.gov/ooh/business-and-financial/home.htm
https://www.bestcolleges.com/blog/types-of-business-degrees/
https://www.collegechoice.net/business-degree-types/
