Is a business degree worth it? Guide 2023 (2023)


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Learn how to evaluate the different areas of potential income to determine if a business degree might be right for you.

Is a business degree worth it? Guide 2023 (1)

Any degree you pursue will require some level of investment, whether it be in money, time, or energy. At the other end of that investment, it should pay off: increased earning potential, new skills, or advancement toward your career goals, to name a few.

Overall, a business degree is a worthwhile investment. In this article, we'll detail how you can evaluate the different areas of potential earnings to determine if a business degree is worth it for you.

What is a business administration degree?

When someone is referring to a business degree, they are usually referring to a bachelor's degree in any field of business. Programs can be more general, focusing on a wide range of business functions and how they interact with each other, or more specialized, examining a single business area in depth.

general business studiesThese can be areas such as business administration or corporate managementcommercial degreesThis can be in areas like marketing or finance. Both types fall under the generic term “business studies”.

Is a business degree worth it? Guide 2023 (2)

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Salary and career prospects as a business graduate.

According to the US Bureau of Labor Statistics (BLS)The median annual salary for business and finance professionals was $72,250 as of May 2020, which is more than $30,000 more than the average annual salary across all occupations. Additionally, jobs in this sector are forecast to grow by about 8% between 2020 and 2030, at the rate of the average for all occupations [1].

Most professions in this category, including accountants,Market Research Analysts, and HR professionals, to name a few, require a bachelor's degree as an initial qualification, and earning a business degree can position you to advance in these careers.

What can you do with a business degree?

A business degree can lead you to a variety of careers in the business world and also prepare you for a career in related fields. learn more aboutIn-Demand Jobs You Can Get With a Business Degree.

Is a business degree worth it? Guide 2023 (3)

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In general, you can make more money with a bachelor's degree than someone with an associate's or high school degree. In 2020, people with a bachelor's degree earned an average weekly income of $1,305, while those with an associate's degree made $938 and those with a high school degree made $781, according to the BLS.2]. (Annually, that equates to $67,860 for a bachelor's degree, $48,776 for an associate's degree, and $40,612 for a high school diploma, assuming people worked 52 weeks of the year.)

Advantages of a business degree

A 2019 ZipRecruiter survey found that business is one of the least regretted college majors among job seekers [3], indicating that business students are generally satisfied with what the program has taught them. Generally, these titles are flexible, offer valuable career resources, and can lead to more business opportunities.

transferrable skills

In addition to potential financial gains, business graduates may find a unique degree of flexibility when applying. Business administration is present in almost every modern industry, giving graduates the opportunity to apply their business administration studies in almost all areas of industry.

Sometransferrable skillsBusiness graduates can learn in the classroom, including:

Career resources and networking opportunities

Plus, business school can be a great place to plant the seeds of your future success. Many degree programs have Career Resource Centers and extensive alumni networks that can be helpful both during your studies and after graduation. You can find opportunities to get internships or learn directly from people who used to be in the same place you are in now.

building a relationship

If your long-term goals are to earn a college degree, e.gMaster of Business Administration (MBA), a commercial university degree can be helpful. While a business degree is not typically a requirement for an MBA, you can make valuable connections with professors who can serve as long-term business mentors or write yoursmba letter of recommendation.

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Typical costs for a business degree

Candidates for the business degree must expect some costs in exchange for the above benefits. Financially, these costs can vary greatly depending on the school you attend. According to a College Board study, the average tuition and fees for the 2021-2022 school year is [4]:

  • $10,740 for a four-year state public school

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  • $27,560 for a four-year out-of-state public school

  • $38,070 for a four-year nonprofit private school

Typically, students spend about four years working toward their degreeBachelor's requirements.

Understand your return on investment (ROI)

One way to decide if a business degree is worth it for you is to look at your potential ROI, which is essentially a comparison of your likely long-term gains versus your short-term losses. Since it is not possible to quantify certain aspects of your business studies, such as When it comes to things like acquired skills and networking opportunities, ROI often addresses the financial aspects of value.

According to an analysis by the Foundation for Research on Equal Opportunities (FREOPP), careers in business have a positive ROI 98% of the time. This means that, in the vast majority of cases, business graduates end up making more money from their degree than they spent on it. Also, more than half the time, the winnings are worth $500,000 or more [5]. (For comparison, the average net ROI across all securities was $306,000.)

These numbers look promising, but remember that these are generalizations, not guarantees. FREOPP has a tool to estimate your long-term income based on degree and collegeHere[5].

Is a business degree right for you?

Earning your bachelor's degree in business administration can come with several benefits; However, the study is only worthwhile if the desired results match your goals. To get a better idea of ​​what a business degree might entail, enroll in one of the University of London’s online open courses,Economic sustainability in the circular economyÖManagement concepts through metaphor and music.

Both courses are part of theBachelor of Science in Marketing. The school also offers oneDiploma in Business Administration. Earn your business degree entirely online from one of the top 25 UK universities while gaining the knowledge and skills you need to advance your career.

related posts

  • 10 In-Demand Jobs You Can Get With a Business Degree (2021)

  • What is an MBA?

  • MBA vs. MS: Choose which one is best for you

article sources

1. US Bureau of Labor Statistics "financial affairs and professions,". Accessed December 8, 2021.

2. US Bureau of Labor Statistics "Paid education, 2020: career prospects,". Accessed December 9, 2021.

3. ZipRecruiter. „Most regretted college courses,”. Accessed December 8, 2021.

4. US News and World Report. "College Prizes and Tutoring Aid Trends 2021,” Accessed December 8, 2021.

5. Cooper, Preston. „Is college worth it? A Comprehensive ROI Analysis: FREOPP,” Accessed December 8, 2021.

Written by Coursera • Updated on


This content is provided for informational purposes only. Students are encouraged to do additional research to ensure that the courses and other qualifications they earn meet their personal, professional, and financial goals.


Is a business degree worth it in the future? ›

A business degree can increase job prospects, create advancement opportunities, and increase your salary and lifetime income. It's a worthwhile investment in your career—now and into the future. You just have to find the right business degree program for you.

What is the best degree to get in 2023? ›

Best College Majors Table of Contents
  • Computer Engineering.
  • Actuarial Science.
  • Computer Science.
  • Management.
  • Electronics Engineering.
  • Healthcare Administration.
  • Health Informatics.
  • Construction Management.
Feb 2, 2023

Is a business degree worth it now? ›

According to an analysis from ​​The Foundation for Research on Equal Opportunity (FREOPP), business degrees have a positive ROI 98 percent of the time. That means the vast majority of the time, business degree holders end up making more money because of their degree than they spent earning it.

Is a 2 year business degree worth it? ›

Not only will you enjoy high employment levels as a degree holder, but you'll likely earn more money in your job and career. Employers are willing to pay qualified employees better wages, so with the time and money you've invested into an associate degree, it may pay off when you can earn a higher salary.

What are the least regretted majors? ›

The least regretted college majors, which graduates would choose all over again, are reportedly Computer and Information Sciences, Criminology, Engineering, Nursing, Health, Business Administration and Management, Finance, Psychology, Construction Trades, and Human Resources Management.

What degree is most useful? ›

This list details some of the most popular and lucrative college majors in demand.
  1. Engineering. Engineering professionals use principles of physics and mathematics to design buildings, vehicles, electronics, and other structures. ...
  2. Business. ...
  3. Nursing. ...
  4. Hospitality. ...
  5. Education. ...
  6. Computer Science. ...
  7. Architecture. ...
  8. Pharmaceutical Sciences.

What three jobs will be in demand in 2025? ›

A list of the most in-demand skills in the future
  • Data Science & Cloud Computing (Cloud computing goes hand in hand with data science, and cloud computing jobs range from architects and developers to data scientists)
  • Artificial intelligence (AI) and machine learning (ML)
  • Big Data Science.
  • Digital Marketing & Strategy.
Apr 13, 2022

What 3 year degree makes the most money? ›

30 Highest Paying Bachelor's Degrees
  • Petroleum Engineering. Early career salary: $96,742. ...
  • Operations Research. Early career salary: $74,114. ...
  • Marine Engineering. Early career salary: $70,837. ...
  • Computer Engineering. Early career salary: $80,587. ...
  • Systems Engineering. ...
  • Chemical Engineering. ...
  • Electrical Engineering. ...
  • Computer Science.
Jan 11, 2023

What is the highest paying job in 2023? ›

Here are the 10 best-paying jobs of 2023, according to U.S. News & World Report (and see the full report here).
  1. Anesthesiologists. Median annual salary: $208,000. ...
  2. Oral and maxillofacial surgeons. Median annual salary: $208,000. ...
  3. Obstetrician and gynecologist. ...
  4. Surgeon. ...
  5. Orthodontist. ...
  6. Physician. ...
  7. Psychiatrist. ...
  8. Nurse anesthetist.
Feb 1, 2023

Do you regret a business degree? ›

Business was the second-least regretted major, according to the data. Only 15.5% of business majors reported regretting their degree — higher only than computer science/mathematics, which had a regret-rate of 12.78%.

What type of business degree makes the most money? ›

The highest-paying business majors include marketing, finance, and international business. Management and human resources management also rank in the top five business majors with the highest salary potential.

Do business majors make money? ›

Another benefit of choosing a business major is the earnings potential. According to the U.S. Bureau of Labor Statistics (BLS) , salaries for many occupations related to business were higher than those for all workers.

What is the highest paying 2 year degree? ›

What Are the Highest-Paying Associate Degrees?
  • Electrical Engineering. ...
  • Aeronautics. ...
  • MRI Technology. ...
  • Radiology Technology. ...
  • Respiratory Therapy. ...
  • Occupational Therapy. ...
  • Mechanical Engineering. ...
  • Network Engineering. Network engineers design, administer, and maintain local and wide area network systems.

How hard is a business degree? ›

Generally speaking, a business degree is not the hardest one out there but is not the easiest one either. The level of difficulty depends on your program and university. It is not a secret that some business programs and schools are harder than others.

What is the most useful 2 year degree? ›

Many of these meaningful, 2 year degree jobs also pay well, from careers in the medical field to working with computers.
  • Data Analyst.
  • Veterinary Technician.
  • Aquaculture Technician.
  • Web Developer.
  • Animal Shelter Attendant.
  • Wastewater Technician.
  • Junior Aquarist.
  • Medical Assistant.

What is the #1 hardest major? ›

20 Hardest Majors: The Ultimate Guide
  1. Chemistry. At number one on the list is chemistry.
  2. Architecture. ...
  3. Chemical Engineering. ...
  4. Computer Science. ...
  5. Aerospace Engineering. ...
  6. Biomedical Engineering. ...
  7. Materials Engineering. ...
  8. Petroleum Engineering. ...

What is the happiest college major? ›

Computer science majors, with an average annual starting salary of almost $100,000, were the happiest overall, according to ZipRecruiter.

What is the most unused degree? ›

Here's the list of the most useless degrees, as perceived by several sites.
  • Advertising and public relations. ...
  • Anthropology / Archaeology. ...
  • Communications / Mass media. ...
  • Criminal justice. ...
  • Education. ...
  • Ethnic and civilization studies. ...
  • Fashion design. ...
  • Film, video, and photographic arts.

Is a business degree future proof? ›

The business world is booming. In January 2022, there were 430, 411 U.S business applications so getting a future proof degree in business is a great way to be part of this rapid growth. With a business degree, you can get a job as a management analyst which is projected to grow 14% in the next 10 years.

Which degree has more value in future? ›

Without a doubt, Data Science/ Big Data are courses that have good scope in future. Educational requirements: One may pursue Data Science as a Master's programme, after an UG degree in Computers/ IT/ Statistics/ Mathematics or Economics.

Are business degrees in high demand? ›

Business is the most common major across all bachelor's degrees conferred, and business majors are among the most in-demand graduates [1, 2].

What is the best degree for the future? ›

Here are some fields that are expected to have growth potential and continue to develop.
  • Engineering. Engineering is a large scientific branch focused on the practical design and building of structures or machines. ...
  • Healthcare. ...
  • Psychology. ...
  • Computer Science. ...
  • Business. ...
  • Information Technology. ...
  • Accounting. ...
  • Economics & Finance.


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