Business education consists of a wide range of specializations. Accountancy, finance, organization, human resources management and marketing are examples of this. Due to how broad the subject is, Business Studies is one of the most international study subjects in the world.
Whether you want to work in a multinational corporation or even start your own business one day, everyone can benefit from business education. However, not every (soon-to-be) business owner needs one. Some people know exactly how they want their company to perform in the market and have highly developed business skills honed through years of experience in the field. Nevertheless, even experienced business people have gaps in their understanding, so taking the time to study a Business Degree in a particular area is always a good idea. An important thing to remember is that Business School is not going to teach you what kind of business to start and how to bring it to stardom. It will teach you how things work in the business world and it will give you the facts and details.
Reasons to study Business Studies:
1. Communication skills
In addition to the fact that you have excellent math and management skills as a business student, you will also gain communication skills. You will gain credit points by writing papers and giving presentations.
2. Obtaining a leadership position
Studying a Business degree will not only help you to get acquainted with the way a business works but also how to run it. Business education will teach you how to take the lead in certain projects, how to take responsibility and how to lead a team.
3. Building a professional network
Most bachelor and master programmes in business studies ask students to do an internship. This does not only provide you with a first impression of the labor market related to your studies but also makes it possible to forge new relationships and widen your personal network of business contacts for the time after graduation.
4. Marketing 101
Knowing your audience is an essential part of the core contents of business studies. When you’re doing projects during your study where you have to develop products and put them on a market, it is important to know your audience and define target groups.
The most important thing is that you enjoy your job, but let’s be honest; having a good salary is a nice extra. According to NACE’s Fall 2018 Salary Survey, the average starting business degree salary was reported to vary depending on the specialization:
|Field of work
|Average starting salary
|Business & economics
|Accounting & finance
|Human resources management
|Management information systems
Salary expectations are likely to be higher when studying a master’s degree. According to TopMBA.com Jobs & Salary Trends Report, salaries for MBA graduates are around US$116,300 in the US and Canada, a little lower in Western Europe, and around US$85,900 in the Asia-Pacific region.
6. Transferable skills gained from a business degree
During your business degree, you’ll develop a broad knowledge of business operations as well as gaining targeted skills in your specific field. Another important thing is that you can also expect to gain many valuable transferable skills, which you can use in your everyday life or if you decide to take a completely different career path. Examples of these transferable skills according to L. Tucker are:
- An understanding of how organizations operate
- Strong communication skills (oral and written)
- Analytical and critical thinking
- Decision making
- Logical thinking
- Presentation and report writing skills
- Numeracy and an understanding of how to interpret and use financial data
- Self-motivation, initiative and effective time management
- Project and resource management
- A close understanding of economic fluctuations and other external changes affecting business
Studying a business degree contributes to your future in several ways and opens up new opportunities.
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