Why Should You Get a Business Degree?
On their website, job search engine Indeed states that business majors have “a unique opportunity to learn a variety of business principles before entering the professional sector. With a background in business, you will be prepared to work in a range of settings in government, business, non-profit organizations and more.”
According to the US Bureau of Labor Statistics, you can earn a high wage if you obtain a business degree - but this depends on the job you choose and the hours you work. Once you obtain a business degree, you can unlock doors of opportunity even if you start in an entry-level position.
A business degree can extend your options in any industry, including administration, sales, human resources, customer service, retail, marketing, accounting, and even auditing. Having a business degree can also attract good salary packages worldwide, which means that you could move anywhere.
What Is the Average Salary for Someone With a Business Degree?
Having a business degree is one of the most practical degrees to have, and there are over a dozen major business careers that you can pursue. Ultimately, your salary will depend on what field you choose and where you go.
Salaries by Field
Someone who goes into marketing in the US could expect to make about $53,785 per year as a marketing executive. A marketing manager, on the other hand, could make about $71,079.
If someone chooses to get into international business, they could see an average annual salary of $53,362 per year. A general manager who is involved in international business, the average annual salary is $57,751. According to anonymous Indeed data, general managers can also receive a $10,000 cash bonus, a commission of $17,750, and profit-sharing of $7,500 per year.
For a person looking to obtain a business degree and career in finance, the average annual wage is $66,856 per year. For a finance advisor specifically, the annual average wage is $68,993, with a $30,366 commission annually.
Salaries by Location
Indeed reports that in the US, the average salary for a business manager is roughly $70,357. New York City offers the highest average business manager salary at $95,352 annually.
According to anonymous Glassdoor data, a business manager in Paris, France, can have an average annual wage of €46,572 ($53,298). However, a business analyst in Paris can earn, on average, a salary of €42,687 ($48,835) annually.
UK job search engine Totaljobs reports that their country’s average annual wages for a business manager is £42,500 ($53,736). Business analysts in the UK have an average yearly salary of £52,500 ($66,380).
About the Author
Luigi Wewege is the Senior Vice President, and Head of Private Banking at Caye International Bank. Outside of the bank, he serves as an Instructor at the FinTech School which provides online training courses on the latest technological and innovation developments within the financial services industry. Luigi is also the published author of: The Digital Banking Revolution.