Job prospects are good for recent graduates with business degrees, according to a 2014 article in Fortune magazine. Recruiting was strong in 2014 at Bentley, Emory, Washington in St. Louis and Wake Forest universities. Choosing the best business major can help you maximize your potential earnings. In a 2014 survey, employers told the National Association of Colleges and Employers that finance, accounting, economics, business administration, and management information systems were among the most in-demand degrees for new hires.
Finance Tops Survey
A finance degree is the only business degree listed among the 15 most valuable college majors as ranked by Forbes magazine. Finance majors can expect to earn $87,300 a year when they reach the middle of their careers, according to the magazine. When the National Association of Colleges and Employers surveyed 240 businesses in 2014, they found the business major most in demand by employers is finance.
Economics Offers Varied Opportunities
Jobs for economists are expected to grow by 14 percent from 2012 to 2022, according to the U.S. Bureau of Labor Statistics. One advantage of majoring in economics is its adaptability to a number of sectors. The bureau predicts private businesses and science-related companies are likely to hire economists. The government employs more economists than businesses do, but government demand is expected to ebb. In addition, many teaching positions were listed among the 1,200 job vacancies on the American Economic Association's job postings board in 2014.
Accounting Ranks Second
The National Association of Colleges and Employers found accounting to be the second-most sought after business major by employers, according to a 2014 survey. Job growth for accountants is forecast at 13 percent from 2012 to 2022, according to the U.S. Bureau of Labor Statistics. The bureau predicts government regulations, in part due to banking scandals, will increase the demand for accountants. Global business expansions will also fuel the need for accountants to interpret international trade laws. Revenue from accounting services is expected to go from $137 billion in 2013 to $160 billion in 2018, according to statista.com, a statistics portal.
Information Manager Jobs Abound
Management information systems ranks among the most sought after bachelor’s degrees probably because it combines business skills with computer skills. The hiring rate for information systems managers is expected to grow 15 percent from 2012 to 2022, according to the U.S. Bureau of Labor Statistics. Cybersecurity and the implementation of wireless networks are expected to spark demand for workers with this skill set. Information technology managers were ranked the 24th best job on a list of the 100 best jobs, according to U.S. News & World Report in 2014. It was the eighth best technology job on that list.
- Forbes: The 15 Most Valuable College Majors: No. 13: Finance
- Poets and Quants for Undergrads: Business Majors in Demand for 2015; Jeff Schmitt
- U.S. Bureau of Labor Statistics: Economists, Job Outlook
- American Economic Association: Job Openings for Economists
- U.S. Bureau of Labor Statistics: Accountants and Auditors: Job Outlook
- Statista: Statistics and Facts on the Accounting Industry in the U.S.
- U.S. Bureau of Labor Statistics: Computer and Information Systems Managers: Job Outlook
- U.S. News & World Report: IT Manager
- Fortune: Business Majors’ Job Prospects Are Looking Bright; Alison Damast
Rudy Miller has been writing professionally since 1996. Miller is a digital team leader for lehighvalleylive.com, a local news website and content provider to the Express-Times newspaper in Easton, Pa. Miller holds a Master of Arts in English from the University of Miami.