Written by Owen Hu February 23rd 2022
Business majors are undoubtedly popular: in 2019, a fifth of all bachelor’s degrees awarded were related to business. However, a major in business can mean a lot of different things, depending on the specific area of specialization. From a concentration in finance to management and organization, marketing to economics, each degree holds its own perks and opportunities. Importantly, we must ask: what makes each business degree unique?
Finance: A degree in finance involves the heavy usage of numbers. Popular topics in a finance concentration include investment, accounting, and money management. Uniquely, those that choose to specialize in finance tend to head into jobs that are always in demand. For example, an accountant will be needed no matter the current state of the economy and is not likely to be replaced by technology. The University of Pennsylvania’s Wharton School of Business and New York University’s Stern represent some of the top schools for finance degrees.
Marketing: A marketing degree is well-suited for those with strong people skills who are able to pitch products and services. This specialization involves a heavy emphasis on market research, media, and sales. A marketing degree is unique in that it allows an individual to really understand companies and businesses as a whole: marketing requires knowledge of all aspects of a company, unlike other specializations, like finance, which usually concentrate only on a specific sector. Popular schools for marketing include Columbia University and Imperial College in London.
Economics: Specializing in economics is a popular option for abstract thinkers. Involving a lot of theory, economics uniquely requires heavy usage of mathematics, including calculus and statistics knowledge. This degree may lead to a job as a forecaster, analyst, or economist. Princeton and the University of Chicago are examples of schools that have widely-renowned economics programs.
Management: Management is the specialization that deals with people. From managing large teams for company-wide projects to leading the Human Resources department, a concentration in management allows for great interpersonal connections and leadership development. Harvard Business School and UPenn are both prestigious schools for those seeking a specialization in management.
This is only a small sample of business degrees. Within each, there are sub-concentrations that may lead to an even more specialized job. In conclusion, there is a reason why a business major is so popular: from the wide variety of choices that are available to specialize in to well-paying jobs that come after education, any concentration in business is undoubtedly a great choice for those it suits.
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