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Little known facts about a business degree and why they matter

July 30, 2020 - 12:00am
UNIBusiness Editor
University of Northern Iowa accounting instructor Linda Debarth helps a business student

The world moves at the speed of business, and that speed is increasing as technology makes accessing new markets easier. As the opportunities emerge there are many ways for individuals to seize these prospects and build flourishing careers that can shape the world of tomorrow. This is why business can be one of the most rewarding degrees to earn.

Shaping tomorrow’s world begins with the decision to pursue a degree that gives you the skills to successfully navigate the ever-changing waters of global commerce. In 2011, 59 million Americans over age 25 earned a bachelor’s degree…but only 12 million were business majors. Those who held degrees in business found it easier to secure full-time, long-term employment.

A business degree is rapidly becoming the ticket you can’t afford to leave behind for individuals interested in landing tomorrow’s most lucrative jobs. More than three million management and business-related positions will open between now and 2022. 88 percent of those roles will have a pre-requisite of specialized business training. The average starting salary of business degree holders exceeds $54,000.

Specialization yields greater success

One of the best ways to ensure a successful business career is to specialize your knowledge so that you can fill the needs of prospective employers. For example, human resource specialists will be in high demand between now and 2020, as it’s expected their business will see a 21 percent growth rate between now and then. This is on par with financial analysts, whose field is expected to grow by 23 percent during the same time period. Of course, if you truly enjoy crunching numbers, auditors and CPAs are expected to see 16 percent job growth in the next five years.

By coupling a specialization or credential with your business degree, you can hone your skills to a fine point. Diversified expertise in areas like finance and accounting makes your business degrees even better and makes you increasingly valuable to employers as they grow their operations. While earning additional credentials in college is not required, it is advisable to choose specializations that can be applied across industries to maximize your career opportunities.

Hang your own shingle

Business majors are entrepreneurs by nature. It’s a spirit that drives them forward. It drives them to innovate and create. Indeed, entrepreneurship is at the core of every business class you will ever take. But, wanting to create and bring your ideas to market takes more than just drive and determination; it takes skill and an understanding of detailed business functions. A business degree can prepare you for the mundane tasks of operating your own company.

From payroll and taxes to staffing levels and marketing, a business degree can teach you the best methods for managing your company. If you ever wondered why so many startups fail, it is more often because entrepreneurs lack the formal training required to navigate ever-changing market conditions than because their determination falters.

The best degrees for business eliminate the mystery of what goes on behind the scenes in any company. This helps entrepreneurs forecast sales, organize logistics, and bring their goods and services to market efficiently, maximizing profits. You might say it makes the difference between striking out on your own and succeeding, and just striking out.

You are never too old to learn

Some people say you can’t teach an old dog new tricks. Not true. Many of the most successful entrepreneurs and business professionals have been around the block a time or two…or three. Today, more than 40 percent of business students are over the age of 25. When it comes to business, age can be an advantage. Older, wiser, more experienced students have “real world” experience, and the patience business requires. These people are strong additions to companies requiring professionals with the life experience to think both inside and outside the box.

And…you’re never too young to begin

Business has an image of being for a bunch of stodgy old suits sitting around mahogany tables in comfy leather chairs. The reality of the modern business world is quite the opposite: laptops, jeans, telework are becoming increasingly common. This is because younger entrepreneurs are changing the business landscape. Fresh out of high school and looking for the best degrees for their careers, younger students are seeking the business training they can use to bring their ideas to market.

You can study anytime, anywhere

The internet has not only changed business, it’s changed the way we learn about business. With wi-fi access, you can take lectures, participate in classes, and continue your business studies even when you are away from campus. This makes it easy to earn one of the best degrees while you keep working, take care of your family, or work on your business plans to create the latest, greatest, widgets and gadgets for consumers to purchase.

In 2011, over six million students took at least one online class per semester. These numbers continue to rise each year, and those pursuing the best degrees in business know that the flexibility of online learning presents an advantage not to be missed.

There is plenty of money to earn

GDP is down; GDP is up. With so much conflicting data entering your information stream, it is difficult to know what to believe. As economies fall, others rise. The global economy is increasingly fluid, and those with solid business skills can achieve spectacular results by knowing how to ride the waves and adjust their operations to meet the market’s challenges.

This is why business degrees are the best degrees: they open the doors into every aspect of the global economy. From healthcare to finance, and publishing to technology, business degrees allow you to apply your skills to every facet of an evolving economy; giving you the flexibility to pursue new opportunities wherever they grow.

A business degree is an investment

Earning a business degree is neither easier nor more difficult than earning any other degree. While business studies provide you with one of the best skill sets available, the basic ingredients are the same. You invest sweat equity, dedication, commitment, and determination; without these ingredients, any attempt to earn a degree is doomed. However, if you are willing to put in the time and dedicate yourself to learning the business principles, anything is possible. What separates business majors from those pursuing other degrees or who are still undecided on a major is that they have the reserves of determination and strength to propel them into the future.


UNI Business

UNIBusiness Editor

UNIBusiness uses a team of writers to conceptualize, develop and share stories and updates with the public. If you have a story idea, an update on an alum or just want to say 'Hi', please email