Why Study Business Administration?
Business is far and away the most popular major for students earning a bachelor’s degree. That has been the case since 1980, according to the National Center for Education Statistics.
In the most recent year for this data, business degrees accounted for 19% of all bachelor’s degrees conferred. Nursing was second at 13%, and then there was another large drop at third for social sciences and history degrees at 8%.
Why is business so popular? Take a look at its versatility.
Business is Incredibly Versatile
Nearly one out of five graduates earns a degree in business, but imagine trying to cover all of the careers that naturally result from this degree.
The Bureau of Labor Statistics (BLS) covers more than 20 occupations on its list of business and financial occupations. They span so much ground across major fields like marketing, management, finance and more. For instance, the difference between a market research analyst, human resources specialist and a fundraiser is considerable. Yet, a bachelor’s degree in business is the typical entry-level education for each one.
According to the BLS, all of these occupations require a bachelor’s degree or less. And median pay is $75,570 for business and financial occupations—higher than the average for all occupations at $45,760. That’s a salary premium of 67%.
You can pursue multiple careers that deliver a strong return on your degree. Yet, the versatility goes a level deeper, even.
You Can Work in Any Industry—And Easily Pivot Industries/Careers
While there are dozens of careers you could pursue with a business administration degree, opportunities increase considerably when you consider the industries that require various business professionals.
As an example, say you enjoy researching and data, so you want to become a market research analyst. You could easily spend your entire career doing this kind of work for tech companies—in-house, at marketing agencies or firms that specialize in market research services. Other industries include banking, higher education and engineering, along with many others. You’ll be able to target any industry because it’s a role that’s in need across the board.
What if things don’t work out? Your skills are highly transferable, so you can switch your industry and/or the type of company you work at pretty easily. After all, the BLS reports that employment of market research analysts is projected to grow 22% by 2030, which more than doubles the national average for all occupations.
You could also pivot to another business career track like account management, where you could use your skills but in a completely different way. And if you’re simply looking for career growth outside of being a market research analyst, there are several roles that you could branch into.
- Analytics manager
- Business intelligence analyst
- Data analyst
- Data scientist
- Director, consumer insights
- Market research director
- Market research manager
Flexibility in the Degree Itself
Getting to choose from so many high-demand, lucrative careers that can exist in multiple industries is tempting. Another bonus in this theme of versatility is that the degree itself is multifaceted as well.
Study business administration and you’ll develop a broad understanding of all business areas, including marketing, management, operations and supply chain management, economics, accounting and finance. At UTEP, the 100% online Bachelor of Business Administration in General Business is incredibly flexible, enabling you to earn a powerful degree when and where you have the time.
You’ll connect with the same excellent faculty members who teach in the face-to-face program, and take advantage of unique connections with companies across the country. In addition to being flexible, it’s affordable, too. Out of all U.S. doctoral research institutions, UTEP boasts one of the lowest out-of-pocket costs. More than $221 million is awarded in financial aid each year.
Interested in learning more about the fully online degree in business administration? Check out the program page or click the button below to connect with an enrollment counselor who can answer any questions you may have.