Business Degrees
Do I need a Business Degree?
Studying for a degree in Business is an expensive and time-consuming activity, so there must be a payback for all the hard work. The nature of the payback is actually varied, and depends largely on what kind of job you do afterwards, and what kind of person you are, but there are some interesting facts that indicate the kind of expectations you can have.
Generally speaking, studying for a business degree will give you a higher salary, better promotion prospects and employment benefits. According to the US Bureau of Labor , average salaries in 2000 were as follows:
- High School Grad $29,200
- Associate Degree $36,400
- Bachelor Degree $47,000
- Master Degree $56,600
Studying for an MBA (Masters in Business Administration) looks even better - the average salary for holders was $72,000 (before bonuses) in 2000, and graduates received an average of 2.7 job offers after they obtained their MBA.
There are other factors to consider as well. Colleges and universities have a vested interest in making sure that you get as good a first job as possible - after all, they are judged on the performance of their graduates. They will therefore actively help you through on-campus placement services, and after through the alumni association. They also encourage networking, and indeed many people value the contacts they make at university and through the alumni associations as giving a large contribution to their working lives.
Of course, intellectual training, knowledge and skills acquired during the degree course are invaluable, and are the factors that drive salary increases and job prospects. Do you need a business degree? Well, if you plan on being successful, it will certainly get you pointed down the right path.