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When you decide to major in business, you might picture yourself running operations from your corner office. But the road to CEO takes hard work.
A business degree can be expensive. Your schooling also requires time and effort. However, top business degrees offer a good return on investment.
How? The highest paying business majors earn top wages.
In fact, many business degrees lead to six-figure salaries.
In this article, you learn what business degrees make the most money and which are the best business degrees to get.
Top 10 Highest Paying Business Degrees
The Bureau of Labor Statistics (BLS) reports wages for business jobs. Information listed below includes the average wages of those with business degrees. Read on to learn more about the top 10 highest paying business degrees.
#10 – Human Resources – Master’s, MBA, or Bachelor’s Degree in Human Resources
Employees are human capital. As such, they are the most important assets to all businesses.
But to work in HR isn’t easy. If fact, it takes hard work and a degree.
Since HR specialists take care of many duties, their role is vast. They not only hire staff, but also oversee employee relationships. They also manage retirement benefits and insurance.
Most employers require a master’s degree for management jobs in HR. This includes an MBA. However, you need a bachelor’s in HR degree for other roles.
In HR programs, you learn how to manage relationships at work. You also interview and hire employees. Above all, you establish a healthy work environment as an HR manager.
You take classes like:
- Business ethics
- HR benefits
- Management principles
You also complete projects, a thesis, and an internship. And once you’ve earned your degree, you’re ready to work in HR.
But what will you earn as an HR specialist?
The Bureau of Labor Statistics (BLS) reports average wages of $63,490. This is over $20,000 more than the average for all other jobs. But the top earners make over $100,000 per year.
However, to earn those top wages look for work in high paying industries like:
- Technical services
In addition to high wages, these industries report good job growth for HR specialists. In fact, 7% growth is expected over the next ten years.
#9 – Marketing – Master’s, MBA, or Bachelor’s Degree in Marketing
Marketing has always been a major part of business. It not only is about buying and selling, but also how to draw customers and keep them.
Without marketing, businesses won’t survive.
But to get a marketing job, you need a college degree. Specifically, you need a marketing degree.
Marketing programs teach you business and leadership skills. You also learn about consumer behavior. You learn why people buy goods and services. You also study buying habits and patterns.
But above all, you graduate ready to work in the marketing field.
Since most employers want a bachelor’s in marketing for entry-level jobs, management positions require graduate degrees.
There are two types of marketing graduate degrees.
- Master of Arts in Marketing
MBA programs offer marketing courses or a concentration in marketing that will lend well to your career.
Careers for marketing majors include:
- Finance manager
- Management analyst
- Marketing manager
- Operations supervisor
- Sales manager
Marketing is a field that pays well. As a result, it is one of the highest paying business degrees.
Marketing managers, for example, earn over $140,000 per year.
You won’t find high earnings right out of college, but with a master’s degree and experience, you can earn six figures.
Additionally, job growth is expected in marketing. In fact, an 18% job growth over the next decade is projected for market research analysts. Since the average is less than half that number, marketing is a good field to pursue.
What causes job growth in this field?
First, the need to replace workers who retire. Second, the growth of social media and online presence among businesses. Third, the growing need to create digital media campaigns.
As a result, more marketing experts will be hired.
#8 – Labor Relations – Master’s, MBA, or Bachelor’s in Labor Relations
Healthy work places have strong labor relations between employees and management. But how these relationships develop depends on who’s in charge.
Labor relations programs prepare you to provide fair treatment to employees while also making sure management sees productivity rise. You will also learn how to meet these goals by forming relationships with management, labor unions, and employees.
You will study how contracts are made. You will also investigate work grievances.
Above all, you will learn how to make everyone happy through fair practices.
Labor relations majors work in:
- human resources
They work for business and organizations.
As one of the best business majors, labor relations specialists earn $73,240 annually. However, the highest earners make over $128,000/year.
Two industries that pay well for this job include:
- management of companies
Some managers in this field earn average wages of over $90,000. But in government, wages are slightly lower. In fact, government labor managers earn about $75,000/year.
If you’re looking for the best business degree to get, consider labor relations.
#7 – Accounting – Master’s, MBA, or Bachelor’s in Accounting
Accounting is thought of as one of the best paying business degrees. Accountants, for instance, earn about $74,000/year. But the highest paid 10% earn almost $130,000/year.
With these wages, it’s no wonder why students major in this subject.
But the degree isn’t the easiest one. In fact, you take plenty of math courses alongside your accounting courses.
Expect to take courses like:
- Cost accounting
- Financial accounting
In these classes, you learn how businesses organize their finances. You also learn how they follow new tax laws when they come out.
While an accounting degree prepares you for work as an accountant, you can take more business classes to widen your skillset.
For example, you can add courses in marketing and management. Some accounting programs even offer human resource and health management classes.
Above all, you graduate prepared for work in a number of industries.
Graduates of the best paying business degrees work as:
- Business strategy analysts
- Finance managers
- HR managers
- Marketing directors
You won’t find a shortage in job opportunities. In fact, steady growth for this career is expected over the next ten years. As a result, accounting is one of the highest paid business majors.
What will cause growth for this career? Mostly, because of an increase in the flow of goods across the globe. But other reasons include the need for businesses to comply with new tax laws and a growing economy following a pandemic.
#6 – Logistics – Master’s, MBA, or Bachelor’s in Logistics
With an average annual wage of $76,270 and top earners making over $122,500/year, this degree ranks as one of the best paying business degrees. However, education impacts wages.
In fact, a college degree is needed to work in this field. While a bachelor’s degree is needed to land entry-level work, a master’s degree puts you in line for a management job.
But if you’re motivated to work hard and earn a degree, you’ll find job growth and good money.
Look for work in high-paying fields. For instance, federal government jobs offer high wages. Manufacturing also offers good pay. In fact, average earnings in these industries is about $83,000/year.
To figure out if logistics is a good fit for you, consider what you’ll learn while earning your degree.
Are you interested in the input and output of goods and services? Do you like to balance budgets?
You learn this and more in a logistics program.
Logistics courses include:
- Supply chain management
- Transport systems
- Urban transportation
In addition to courses, you complete projects. You also learn how to work in teams to solve complex supply chain problems.
Lastly, now is a good time to earn this degree. Job growth is stable. A 4% growth is expected for the next 10 years. However, you need the highest degree in business or logistics (MBA or master’s degree) to qualify for many jobs in this field.
#5 – Management – Master’s Degree, MBA, or Bachelor’s in Management
Managers work in all fields. They manage teams in businesses and they run companies. Some managers oversee finance operations while others lead marketing groups.
But to work in management, you need the highest business degree.
However, a master’s degree or an MBA will prepare you for a leadership role. In some cases, a bachelor’s degree will help you get a job in management.
Management programs teach you how to lead small and large teams. They also teach you how to solve common problems team leaders face.
In this program, you take classes like:
- Business communication
- Business ethics
- Change management
- Leadership principles
Once you earn your degree and land a job in the field, you enjoy:
- high wages
- job growth
In fact, average annual wages for this career are $87,660. However, the highest earners (top 10%) make over $155,000/year.
High earnings are what draw students to this highest business degree, and make it a popular major.
#4 – Finance – Master’s, MBA, or Bachelor’s in Finance
Finance is a popular business degree for two reasons.
- high wages
- job growth
Finance workers earn an average wage of $87,850/year. This means that out of college, you can land a good paying finance job.
However, to earn the highest wages, you need a graduate degree and experience.
The highest paying finance job is financial analyst manager. Average wages for this career are over $134,000/year. With these numbers, it’s not a shock to see why so many students major in finance.
But the road to a finance career takes time and effort.
First, you declare your major in finance. Second, you take classes like:
- Financial reporting
- Global finance
- Real estate finance
These classes teach you how to read financial reports and follow tax laws. You also learn how to work in teams and complete finance projects.
After you earn a bachelor’s degree in finance, you can go to graduate school to earn a master’s in finance or MBA. You can even go to law school. But if you want to go to work in the field, look for finance jobs such as:
- banking specialist
- financial analyst
- loan officer
- personal financial advisor
If you’re uncertain about a finance degree, assess your math and statistics skills. Take plenty of math courses in high school to prepare for a business degree. Also, consider your interests. If you like numbers and reading reports, a career in finance might suit you.
Overall, job growth for this field is strong. 15% growth, for example, is expected for financial managers over the next ten years.
#3 – Statistics – Master’s, MBA, or Bachelor’s in Statistics
Enjoy working with numbers? Love analyzing graphs and charts?
Statistics majors gather, examine, and interpret data. They also apply data to real-life problems.
If this sounds interesting, this degree might be a good fit.
Because this degree is math-heavy, plan on taking many math courses. But if you enjoy math, you’ll love learning.
Common courses for this degree cover topics like:
- Data analysis
- Statistical analysis
These courses teach you how to interpret and think. They also develop your critical thinking skills so that you know how to tackle complex problems.
And once you have your degree, you can work in various jobs.
But above all, you can enjoy top wages and a staggering job growth in this field.
According to the BLS, statisticians earn average wages of $92,270/year.
Also, 33% job growth is expected over the next decade for this career. Why the growth? First, there’s a need to replace workers who retire or transfer to another job. Second, research jobs in this field continue to expand. As a result, job growth is projected.
Now is a good time to pursue a career in this field. Look for jobs in:
- research and development
#2 – Entrepreneurship – Master’s, MBA, or Bachelor’s in Entrepreneurship
New online business emerge every day. Low startup costs and overhead make it possible for more people to own their own business.
As a result, everyone wants to be an entrepreneur. That is why entrepreneurship is a popular degree.
But it’s not only popular, it’s also one of the highest paying business degrees to get.
This program teaches you how to create and run your business ventures. Through courses and projects you learn how to make a business successful.
You take classes that cover topics like:
- Business plan development
- Private business
Once you graduate, you can pursue an MBA or work in roles such as:
- Business owner
- Sales manager
Most people with an MBA who work as entrepreneurs earn over $102,000/year. As a result, this is one of the best business majors.
#1 – Economics – Master’s, MBA, or Bachelor’s in Economics
All business majors take economics. It is one of the most important subjects in business.
But what if you want to major in it? Will you find a job?
In short, economics majors find work after they graduate. Now, in fact, is a great time to look for a job in this field.
A 13% job growth is expected over the next decade for this career. Many job openings will result from the need to replace workers who retire.
In addition to strong job growth, you can also enjoy top earnings. In fact, average pay for economists is $108,350. However, the top 10% of earners make close to $200,000/year.
But your pay depends on your degree and experience. With both, you will likely see top wages.
Economics majors take courses like:
- Government and industry
- Labor economics
- Money and banking
You also take classes that explore business topics.
With a graduate degree in economics, you can find work in many industries, fro education to health care.
But to teach economics at a college, you need a PhD. However, a master’s degree is needed to teach in community colleges.
What business degrees make the most money? In conclusion, the above business degrees pay the highest wages. They also offer strong job growth for recent college grads.
If you’re looking for the highest paid business majors, consider those on this list.
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