Highest Paying Careers for Business Majors
- Investment Banking
- Real Estate
- Personal Finance
- Private Consulting
Students who decide to pursue a Bachelor’s in Business will start a fun and challenging process towards a fruitful career in entrepreneurship. With the ever-growing job opportunities, however, finding the most fitting position may be quite difficult. So, what are some of the best choices when ranked by lucrativeness?
1. Investment Banking
Investment banking has been one of the top-paying careers in business for a long time. If you decide to pursue this role, your major will mostly consist of classes based on finance, accounting, and investing. The job requirements revolve around managing clients’ assets, making profitable investments, researching the market, and similar. The compensation normally varies based on your success and comes through commissions from clients’ returns. In other words, the more income that you can generate for others, the more income you will be entitled to.
As per the Bureau of Labor Statistics, accountants and auditors earn an average salary of over $70,000 per year. More importantly, the growth outlook for these careers in business is above the average at a 10-percent annual increase. Not to mention the unparalleled job safety that comes to those who decide to major in this area. Thus, if your Bachelor’s in Business is focused on accounting, you will find it borderline effortless to secure employment. You will also enjoy a steep earning curve that goes north of six figures relatively fast.
3. Real Estate
Even though there are not a ton of universities who have implemented full-time degree plans that focus on real estate, the salary potential within the field is incredible. Whether you decide to work as a realtor who earns commissions, rent your properties, or flip homes, you can expect to be compensated very competitively. The learning curve for real estate must also be mentioned as universities only go over the basics of the market. You are subsequently responsible for obtaining your license to practice and learning how to research and pin-point investment opportunities that will be profitable.
4. Personal Finance
Personal finance is a great option for people who may not be ready to step into the fast-paced world of investment banking. The most common degree for this business career is a Bachelor’s in Finance. Upon graduation, your job will consist of helping private clients handle their money. Some common ways to do so include employing diverse investment strategies, managing wealth through safe, low-yielding bonds, and recruiting new customers. You can expect to learn a lot as soon as you start and your upward mobility will be outstanding. After all, many personal finance majors eventually pursue their businesses.
5. Private Consulting
The final career choice that will bring an outstanding salary is private consulting. Since it will be in the area of entrepreneurship, it will let you utilize your marketing, management, and investing skills alongside accounting and finance. In fact, according to Forbes, corporate counseling is the sixth-highest-paid job in the United States. Further claiming that private consulting is amongst the most exciting choices on the list is not a far-reaching statement given the diverse nature of projects that you will handle. Individuals who may not be sure about their true passions can also decide to go into this career because it will help them see what they are truly good at.
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An honorable mention for the list includes any IT-related roles that help businessmen and women implement software in their entrepreneurial endeavors. Those jobs tend to require a bit more specialization, however, and a Bachelor’s in Business alone may not be sufficient to build a long-term career.