Business Degree Tier List 2024 (Business Majors RANKED!)

Summary

In this video, the presenter ranks various business degrees for 2023, evaluating them based on early career pay, mid-career pay, job demand, and career satisfaction. The list spans from S-tier degrees like Management Information Systems, Finance, and Accounting, which offer strong salaries and high job demand, to F-tier degrees like Real Estate and highly specific management degrees, which have limited career flexibility. The presenter emphasizes the importance of entry-level job opportunities and the value of specialized degrees over general ones, offering insights for students looking to make informed choices about their academic and career paths.

Takeaways

• 😀 Degrees like Management Information Systems, Finance, and Accounting are highly recommended due to their high demand, salary potential, and career growth prospects.
• 😀 Specific management degrees, like Tourism Management or Hotel Administration, are considered niche and have low demand, making them less viable career options.
• 😀 Business degrees in general provide solid starting salaries and career potential, but degrees that are too specific often limit future job opportunities.
• 😀 It's important to consider the flexibility and demand of a degree when choosing a career path—tech-focused degrees like IT management are in high demand for remote work.
• 😀 Human Resource Management, though decent, has limited salary growth and competition from a variety of degrees, making it a lower-tier choice.
• 😀 Entrepreneurship as a degree might not be as useful since real-world experience tends to be more valuable in this field.
• 😀 Marketing and Advertising degrees are in demand, but salaries and long-term career satisfaction can vary depending on individual success and experience.
• 😀 Health Administration offers a stable career with good pay, but its job market isn't as expansive as more technical business degrees.
• 😀 Degrees in niche fields like Agricultural Business and Real Estate can limit job prospects and are often not necessary for success in these industries.
• 😀 The job market is increasingly leaning towards roles that require remote capabilities and tech-oriented degrees, with a growing emphasis on flexibility in work arrangements.

Q & A

Why is Management Information Systems (MIS) considered one of the best business degrees?

Management Information Systems (MIS) combines technology and business skills, making it highly valuable in today’s job market. It offers high salary potential, with an early career pay of $60,000 and mid-career pay of $105,000. The field is in demand with job listings reaching 48,000, making it one of the most versatile and lucrative degrees.

What is the earning potential for someone with a degree in Finance?

Finance degrees offer a strong earning potential, with an early career pay of $55,000 and mid-career pay of $98,000. The demand for finance professionals is also high, with over 300,000 job listings, making it one of the best degrees for both salary and job opportunities.

What makes Accounting a solid business degree choice?

Accounting is a versatile and highly respected degree with strong career opportunities in various sectors. The degree provides solid earning potential, with early career pay around $51,000 and mid-career pay of $88,000. The high demand for accountants ensures job security, with over 300,000 job listings available.

Why is Supply Chain Management considered a great degree?

Supply Chain Management is a valuable degree because it’s critical to global trade and logistics. The earning potential is strong, with early career pay of $58,000 and mid-career pay of $94,000. Job demand is high, with 74,000 job listings, making it a great degree for those interested in operational and management roles.

How does Economics rank as a business degree?

Economics is a strong degree that provides a broad range of career opportunities. It has a solid earning potential, with early career pay of $50,000 and mid-career pay of $90,000. Although it ranks slightly lower in terms of salary and job demand compared to degrees like Finance and Accounting, it offers versatility in the job market.

Why are degrees in highly specific management fields, like Tourism or Hotel Management, considered risky?

Highly specific management degrees, such as Tourism and Hotel Management, pigeonhole graduates into specific industries, which limits job flexibility. While these fields may offer some opportunities, they are less in demand and often require more competition for entry-level roles. These degrees tend to rank low in demand and salary potential.

What are the risks of pursuing a degree in Entrepreneurship?

A degree in Entrepreneurship is often seen as less valuable because real-world entrepreneurial success depends on personal initiative and experience rather than formal education. While it offers a broad set of business skills, it lacks the job demand and direct career opportunities that more specialized degrees offer.

Why might a General Business degree not be the best option for most students?

A General Business degree offers flexibility but is often too broad, making it difficult to stand out in the job market. The competition for jobs in this field is intense, and graduates may struggle to differentiate themselves from others with similar qualifications. It lacks the specialized skills that more targeted degrees provide.

How do Marketing and Advertising degrees compare in terms of earning potential and job opportunities?

Both Marketing and Advertising degrees offer solid earning potential, but their job prospects can be competitive. Marketing has a slightly higher demand with over 680,000 job listings, while Advertising has around 97,000 listings. However, both fields require specialization, especially in digital marketing, to stand out and secure high-paying roles.

What degree options should students consider if they want a career in a highly-demanded field?

For those seeking a career in a high-demand field, degrees like Management Information Systems, Finance, and Accounting are excellent choices. These fields offer not only strong earning potential but also high job demand, providing graduates with a greater chance of securing employment quickly after graduation.