Should You Major in Business?

What’s Covered:

• Overview of the Business Major
• What Can You Do with a Business Degree
• Best Colleges for Business Majors

 

Business is a booming field these days. Majoring in it can give you a critical foundation for many high-earning careers, and help you gain skills that will allow you to succeed in practically any profession.

 

In fact, even those who don’t enter a strictly “business” field will benefit from a business mindset. That’s because the knowledge touches a diverse range of fields, from healthcare to journalism to the arts.

 

Should you major in business? Keep reading to find out the top careers for people who study this important field and the best schools for preparing for it.

 

Overview of the Business Major

 

Business is a huge field that encompasses a wide range of niche topics and majors, such as economics, accounting, leadership and management, marketing and sales, finance, and many others. Some colleges have a business school or department that houses different majors, like the aforementioned specialties. Others have business majors select a concentration to hone their studies. It’s also not uncommon for students to pursue a double major or minor in another subject so they can apply their business skills to another field, say, law or healthcare. 

 

Business coursework helps students learn basic business principles and gain management and teamwork skills. You can expect to take classes in disciplines like:

 

• Finance
• Management
• Accounting
• Economics
• Global Business
• Marketing
• Ethics

 

You should be prepared for a mix of lectures and discussion-based classes, but you won’t encounter much lab work in a business program. It is fairly common for colleges to offer experiential capstone courses or provide credit for internships, as there is a big emphasis to provide business students with practical experience in the field, rather that be helping a marketing firm with their strategy or running an on-campus restaurant.

 

Some students will go on to earn an MBA or another business-related graduate degree, which allows them to further specialize and increase their earning potential, as well as enter their careers at a higher level than they would with just a Bachelor’s. You do not have to major in business in college to get an MBA; nor is a business degree a “pre-MBA” program in the way people view pre-med or pre-law.

 

What Can You Do With A Business Degree?

 

The possibilities for after graduation truly are endless with a business degree. Below are some of the more popular routes students take, but just know that you can do just about anything!

 

1. Accountant 

 

Median Salary: $81,680 ($52,780 – 141,420)

Projected Growth: 6% (faster than average)

 

Is math your thing? Then you could have a future as an accountant. These professionals work with organizations and individuals to manage their financial matters. The work involves analyzing data, developing budgets, and working with clients or leadership on planning for the future. Their role is essential to increase financial returns and leverage the company’s or individual’s financial assets.

 

2. Financial Analyst

 

Median Salary: $101,910 ($62,410 – 180,550)

Projected Growth: 9% (much faster than average)

 

Here’s another one for the math-minded among us. Financial analysts focus on increasing profits, but they look at bigger-picture investments and other financial resources, conduct audits on the business’ strengths and weaknesses, and devise strategies for increased profit return. They also make recommendations on how to best use a company’s money and other resources. While it’s common for many financial analysts to work at banks or investment firms, individual companies also hire internal financial analysts as well.

 

3. Management Consultant

 

Median Salary: $101,190 ($59,720 – 174,140)

Projected Growth: 11% (much faster than average)

 

Management consultants are usually brought in to help organizations solve problems, contribute to projects, devise plans and solutions, and evaluate data to improve businesses overall. Although they often work for outside firms or independently, companies may employ them in longer-term capacities to assist with large-scale initiatives. Creativity, strong communication skills, and a passion for problem-solving are great traits for a consultant.

 

4. Operations Research Analyst 

 

Median Salary: $91,290 ($53,910 – 159,280)

Projected Growth: 23% (much faster than average)

 

Like many positions on this list, the operations research analyst has the goal of improving business practices across an organization. They might look at individual teams or the big picture, allowing them to gather and study data to create solutions to problems and develop new strategies for conducting operations.

 

5. Corporate Attorney

 

Median Salary: $103,018 ($72,780 – 239,200)

Projected Growth: 5% (as fast as average)

 

For this profession, you’ll need a law degree in addition to your bachelor’s. But for many people, that could lead to a lucrative, satisfying career representing and working with businesses. Corporate lawyers deal with issues like securities, workplace discrimination, mergers and acquisitions, incorporation, and many other legal matters. A business degree will help you understand the principles at the cross-section of law and business.

 

6. Marketing Analysts

 

Median Salary: $76,950 ($42,070 – $144,610

Projected Growth: 8% (faster than average)

 

A marketing analyst helps businesses understand their customers and the market by collecting and analyzing data. They use surveys, interviews, and other methods to gather information about consumer preferences, buying habits, and market trends. By interpreting this data, analysts provide insights that guide companies in making informed decisions about product development, pricing, and marketing strategies.

 

7. Hotel Manager/Owner

 

Median Salary: $68,130 ($39,490 – $126,990)

Projected Growth: 10% (much faster than average)

 

The tourism industry has been booming over the last couple of years, and if you are interested in working in hotel operations, a business degree can get you there. Hotel managers are responsible for overseeing the daily operations of a hotel, ensuring everything runs smoothly and guests have a positive experience. They manage various departments such as front desk, housekeeping, food and beverage, and maintenance. Additionally, hotel managers might handle budgeting, marketing, and compliance with health and safety regulations, aiming to maintain high standards and profitability

 

8. Event Planner

 

Median Salary: $59,440 ($35,990 – $101,310)

Projected Growth: 7% (faster than average)

 

Event planners organize and manage all the logistics for a variety of events. Whether you’re interested in weddings, corporate events, conventions, concerts, charities, etc., there are endless niches for event planners. Since this role requires strong management skills, financial knowledge, and good interpersonal skills, among other things, majoring in business provides a strong foundation for aspiring event planners.

 

9. Human Resources Managers

 

Median Salary: $140,030 ($83,790 – $239,200)

Projected Growth: 6% (faster than average)

 

Human resources (HR) managers play a crucial role in shaping the workplace environment by overseeing hiring, training, and employee well-being. They ensure that companies follow labor laws, manage benefits, and foster a positive company culture. HR managers also handle employee relations, resolve conflicts, and implement strategies to retain talent.

 

10. Entrepreneur

 

Median Salary: Varies

Projected Growth: Varies

 

If you’ve dreamed of starting your own business, a degree in business will equip you with the building blocks you need to be successful. The sky’s the limit with what entrepreneurs can do and earn. However, with the possibility for great success comes the risk of great failure. Entrepreneurs are often characterized by their creativity, risk-taking, and determination to succeed.

 

Best Colleges for Business Majors

 

1. University of Pennsylvania

 

Location: Philadelphia, PA

Acceptance Rate: 6%

Undergrad Enrollment: 9,995

Middle 50% SAT/ACT: 1440-1560/32-35

 

The renowned University of Pennsylvania, an Ivy League school based in Philadelphia, has a lot to offer across its 12 schools, four of which include undergraduate programs.

 

One of these schools is The Wharton School, the first collegiate business school in the world. Today, it continues to top most lists of the best schools of its kind. Undergraduates earn a BS in economics while choosing a concentration like Accounting, Business Analytics, Real Estate, or Marketing. 

 

There are also several programs that combine business studies with other disciplines, like The Huntsman Program in International Studies and Business, which leads to earning a BA in International Studies from the School of Arts and Sciences and a BS in Economics from Wharton.

 

Learn more about UPenn and what it takes to get accepted.

 

2. Cornell University

 

Location: Ithaca, NY

Acceptance Rate: 8%

Undergrad Enrollment: 15,995

Middle 50% SAT/ACT: 1510-1560/33-35

 

Situated in picturesque Ithaca, Cornell is also an Ivy League school and home to eight unique schools. Unlike at many other universities, candidates apply directly to their school of choice.

 

In the Cornell SC Johnson College of Business, students can pursue either a BS in Applied Economics & Management through the Dyson School or a BS in Hotel Administration through the School of Hotel Administration. Within each of these schools, you can further specialize by choosing a concentration. Examples of concentrations at Dyson are Accounting, Entrepreneurship, Finance, and Strategy, while SHA’s include Corporate Finance, Hotel/Restaurant Development, Human Resources, Law, and many others.

 

SC Johnson is also home to many different graduate programs, leading to degrees such as an MBA, MPS, and PhD. There are also dual-degree programs available.

 

Learn more about Cornell and what it takes to get accepted.

 

3. California Institute of Technology

 

Location: Pasadena, CA

Acceptance Rate: 3%

Undergrad Enrollment: 1,023

Middle 50% SAT/ACT: 1500-1600/35-36

 

One of the top STEM schools in the world, Caltech does, in fact, offer programs beyond the science and technology curricula for which it’s most known, ones that set up students to solve complex world problems and challenges. 

 

Through the Division of Humanities and Social Sciences (HSS), students can study business, economics, and management, an option that emphasizes entrepreneurship, finance, and strategy. Many students double-major in BEM and a science or engineering option, but it can also be a standalone option, too.

 

The program aims to equip students with a grounding in economics; knowledge of finance, risk management, business strategy, and more. They will also learn how to analyze and solve problems, as well as look at the broader impacts of business and management on the world.

 

Learn more about Caltech and what it takes to get accepted.

 

4. Washington University in St. Louis

 

Location: St. Louis, MO

Acceptance Rate: 12%

Undergrad Enrollment: 7,313

Middle 50% SAT/ACT: 1500-1570/33-35

 

WashU was originally founded to address the lack of institutions of higher learning in the Midwest. Today, WashU is one of the most prestigious universities in the United States. Known as the Ivy of the Midwest, the university offers a number of outstanding programs.

 

At the Olin Business School, students can pursue a Bachelor of Science in Business Administration (BSBA), as well as several graduate options, including an MBA, specialized master’s degrees, and doctorates. Undergraduates may choose from eight majors: 

 

• Accounting
• Economics and Strategy
• Entrepreneurship
• Finance
• Healthcare Management
• Organization and Strategic Management
• Marketing
• Operations and Supply Chain Management

 

Students are encouraged to take advantage of experiential learning opportunities like the Israel Summer Business Academy (ISBA), which allows participants to immerse themselves in Israel’s entrepreneurial environment. They can also combine majors with a second major or minor from another school.

 

Learn more about WashU and what it takes to get accepted.

 

5. Carnegie Mellon University

 

Location: Pittsburgh, PA

Acceptance Rate: 12%

Undergrad Enrollment: 7,707

Middle 50% SAT/ACT: 1510-1560/34-35

 

It should come as no surprise that CMU is best known for its technological programs, given the fact that Andrew Carnegie originally founded it as the Carnegie Technical Schools at the turn of the century in 1900. Today, however, the university has seven schools, each offering a diverse array of programs.

 

At the Tepper School of Business, students may pursue a BSBA, business minors, a BS in Economics, and several graduate degree options, including an MBA and PhD. There are also many concentrations within the business curriculum. Students take courses in areas like economics, mathematics, and computing and select a minor for an additional breadth of study.

 

Learn more about CMU and what it takes to get accepted.

 

6. Brown University

 

Location: Providence, RI

Acceptance Rate: 5%

Undergrad Enrollment: 7,910

Middle 50% SAT/ACT: 1510-1560/34-35

 

Brown is renowned for its rigorous liberal arts education and its distinctive Open Curriculum, which allows students to design their own academic paths without mandated general education requirements. This approach fosters intellectual independence and encourages interdisciplinary exploration.

 

For students interested in business, entrepreneurship, and organizational studies, Brown offers the Business, Entrepreneurship, and Organizations (BEO) concentration. This multidisciplinary program integrates economics, sociology, and engineering to provide a comprehensive understanding of commercial activities. Students can specialize in areas such as business economics or organizational studies, engaging in real-world projects and capstone experiences.

 

Additionally, the Nelson Center for Entrepreneurship supports students with resources and opportunities to launch ventures and engage with the entrepreneurial community.

 

Learn more about Brown and what it takes to get accepted.

 

7. University of Notre Dame

 

Location: Notre Dame, IN

Acceptance Rate: 11%

Undergrad Enrollment: 8,880

Middle 50% SAT/ACT: 1470-1540/33-35

 

The University of Notre Dame is a prestigious Catholic institution known for its rigorous academics and commitment to developing principled leaders. The Mendoza College of Business offers a Bachelor of Business Administration (BBA) degree that combines a strong liberal arts foundation with comprehensive business education. The curriculum emphasizes ethical decision-making, leadership development, and a global perspective, preparing students to contribute positively to society through business.

 

The BBA program at Mendoza offers six majors: Accountancy, Business Analytics, Finance, Strategic Management, Marketing, and a dual degree in Business and Computer Science (CSBA). Students can also pursue minors in areas such as Innovation & Entrepreneurship and Real Estate. The program is designed to be flexible, allowing students to tailor their education to their interests and career aspirations. 

 

Experiential learning is a core component, with opportunities like the Applied Investment Management program, the Tax Assistance Program, and global study experiences.

 

Learn more about Notre Dame and what it takes to get accepted.

 

8. Georgetown University

 

Location: Washington, DC

Acceptance Rate: 13%

Undergrad Enrollment: 7,833

Middle 50% SAT/ACT: 1400-1540/31-35

 

The McDonough School of Business, established in 1957, offers a Bachelor of Science in Business Administration (BSBA) that combines a strong liberal arts foundation with comprehensive business education. 

 

The curriculum includes core courses in accounting, finance, marketing, and operations, alongside courses in ethics, philosophy, and theology, reflecting Georgetown’s Jesuit values of service and social responsibility. Students at McDonough can choose from six majors: Accounting, Finance, International Business, Management, Marketing, and Operations and Analytics. 

 

The school emphasizes experiential learning through programs like the Global Business Experience, where students collaborate with global companies to solve real-world business challenges. Additionally, Georgetown’s location provides unique opportunities for internships and networking in the heart of the nation’s capital.

 

Learn more about Georgetown and what it takes to get accepted.

 

9. University of Virginia

 

Location: Charlottesville, VA

Acceptance Rate: 17%

Undergrad Enrollment: 17,901

Middle 50% SAT/ACT: 1410-1520/32-35

 

Founded by Thomas Jefferson in 1819, the University of Virginia (UVA) has a long and rich history of offering great academics, including business. The McIntire School of Commerce, established in 1921, offers a Bachelor of Science in Commerce degree, providing students with a comprehensive understanding of business principles and practices.

 

The McIntire School’s undergraduate program is structured into a two-year curriculum, beginning after students complete their first year at UVA. The program includes an Integrated Core curriculum that emphasizes teamwork, leadership, and real-world problem-solving. 

 

Students can concentrate in areas such as Accounting, Finance, Information Technology, Management, and Marketing. Additionally, UVA students have the opportunity to pursue minors in Entrepreneurship, Leadership, Real Estate, or General Business, allowing for a well-rounded business education. 

 

The school also offers study-abroad programs and non-degree Commerce Essentials courses to further enrich students’ learning experiences.

 

Learn more about UVA and what it takes to get accepted.

 

10. University of Michigan

 

Location: Ann Arbor, MI

Acceptance Rate: 15%

Undergrad Enrollment: 34,454

Middle 50% SAT/ACT: 1360-1530/31-34

 

The University of Michigan, often called a “Public Ivy”, is a prestigious research university known for its rigorous academics and vibrant campus life. 

 

The Stephen M. Ross School of Business, consistently ranked among the top business schools in the U.S., offers a Bachelor of Business Administration (BBA) program that emphasizes leadership, innovation, and real-world experience.

 

The BBA curriculum at Ross is designed to provide a comprehensive understanding of business principles while allowing students to tailor their education to their interests. The program includes core courses in areas such as finance, marketing, and operations, complemented by electives that enable specialization in fields like entrepreneurship, supply chain management, and technology. 

 

A distinctive feature of the program is the Ross Experiences in Action-Based Learning (REAL), which immerses students in practical business challenges through consulting projects, investment funds, and leadership roles in student organizations. Additionally, students have the opportunity to pursue dual degrees or minors in other University of Michigan schools, further broadening their academic horizons. 

 

Learn more about UMich and what it takes to get accepted.

 

How to Calculate Your Odds of Acceptance at Top Business Schools

 

Once you have a list of business programs you’re interested in, you may be wondering how you stack up at that school. To answer that question, check out CollegeVine’s free chancing engine!

 

This tool takes into account just about every element of your application, including your grades, course rigor, SAT/ACT scores (if you have them), and extracurriculars, to give you personalized odds of acceptance at all of your top-choice schools.