What are some exciting business majors that pay well?
Well, that is the same question a lot of folks are trying to answer these days. Finding the right business major to study is not hard when this area of education offers so many high paying jobs and companies are expected to continue to hire business majors more than many other majors.
I will talk about four exciting majors for someone that enjoys studying business and wants to make a very good salary. These business majors are awesome because you will be spending time learning something you are passionate and curious about and as you progress through your career and make a very good living.
Getting a degree is an important step in your life. A bachelor’s degree in business can give you more opportunities to get what you want down the road. This is important because your future will depend on the skills you have developed and your relevant educational experience.
Attaining a certain income level allows you can live in nicer area and afford certain lifestyle perks. Yes, an choosing a business major will give you the power to earn good money upon graduation as well as down the road.
To find the right business major for you, you need to ask yourself what you want to do. If you love the business world, well, you can become a Management Analyst, Market Research Analysis, Financial Analyst or maybe a Sales Manager.
Management Analyst
A management analyst can earn around $84,000 a year on average. Yes, becoming a management analyst is one of the best things you can do to make a good living in America. This occupation is hot, and you the job growth for this niche is well above average.
You will need to get a bachelor’s degree to be able to work in this type of job. However, four years of college will be a good investment based on salary projections for this position. Yes, management analyst can be an exciting career for any man or woman out there too.
As a management analyst, you will improve the efficiencies of organizations. You will be meeting with your clients regularly and advising internal and external stake holders on strategy, marketing, sales, and finance. You have to be prepared to work around 40+ hours a week because these types of roles often require you to work several projects simultaneously that have specific deadlines.
Most of management analysts have at least a bachelor’s degree, and they often will get a CMC specialization to increase their marketability.
This type of job is expected to grow more and more because organizations are serious about controlling costs and improving their operations, systems and processes. Often this role acts as a consultant to many companies and clients. You will help managers take their organizations to a new level of efficiency and cost control. You will let them know how to increase revenue and reduce costs at the same time too. Market Analysts will gather a lot of data about the problem to be solved. Then, you will have to solve the problem so you can make the organization improve its efficiency or reduce its costs as soon as possible too.
You will be reading tons of employment, expenditures, and revenue reports so you can know what you need to do. Market Analysts also develop a wide array of solutions including alternative practices, recommend new procedures, systems, and organizational changes.
Market Research Analysis
A Market Research Analyst can make a good living in America because they can earn around $64,000 a year on average.
To become a market research analyst, you will need to get a bachelor’s degree. This type of job is growing at 20% a year, which means that the job market is strong and long-term outlook is very good.
Do you love to deal with people? If so, becoming a market research analyst might be a career choice to consider. As a market research analyst, you will be studying market conditions. The data that you gather will give you the information you need to increase sales of a service or product. Market research is exciting because it is a mix of working with people and data. So a nice mix of working on a team and independently.
Market Research Analyst will have the opportunity to work in a wide variety of industries because this type of work is used in every industry. You will work on a full-time basis and the hours will be 40-45 per week.
You will often have a very full schedule and be working with several clients. You might need to get a master’s degree if you want to apply for certain research positions down the line. This job will require you to have strong analytical and math skills.
You will gather data to understand what product or service a market needs, who will be more likely to purchase, and the right price the potential clients would be willing to pay.
These are some of your duties:
- Forecast and monitor a wide array of sales and marketing trends as soon as possible – too.
- Measure how effective marketing strategies and programs can be down the road.
- Evaluate and devise methods to collect data such as questionnaires, opinion polls, and survey.
- Gather data on market conditions, competitors, and consumers.
- Analyze data using any statistical software.
- Convert complex findings and data into graphs, tables, and written reports.
- Prepare reports and hand out reports to management and clients.
As you can see, becoming a market research analyst is one of the best majors you can choose Yes, a marketing research analyst can make very good money and you can have an exciting career.
Financial Analyst
Financial analysts earn $86,000 a year on average. This career path does require a bachelor’s degree in finance.
This type of job is growing 6% a year. As a financial analyst, you will provide individuals and organizations alike with the guidance they need to make wise investment decisions down the line and manage their revenue and expenses.
You will work in your office most of the time and work more than 40 hours a week. You may be evaluating the performance of bonds, stocks, and other sources of investments
These will be some of your duties:
- Recommend collections of or individual investments, which are commonly known as portfolios.
- Assess both historical and current financial data.
- Study business and economic trends.
- Assess a firm’s financial reports so you can assess its value.
- Meet with the firm’s management so you can better understand the prospects of a particular firm too.
- Assess how powerful is a management team.
- Prepare any needed written reports down the line.
You will work hard to assess a wide array of investment opportunities for the company you work for or their clients. You will be working with securities firms, mutual funds, pension funds, banks, insurance firms, and other businesses.
You can choose one of two sides of this occupation: sell-side analyst or buy-side analyst. As a buy-side analyst, you will be developing investment strategies for firms with tons of dough to invest. These firms are also called institutional investors. They are insurance firms, hedge funds, money management firm’s large endowment firms, and family wealth advise offices.
As a sell-side analyst, you will be advising a lot of financial services sales agents to sell stocks, bonds, and a wide array of other investments as soon as possible too. You might also work with business media or other research houses that are independent of the sell and buy sides. You might focus your efforts or research on developing economies so your employers can take advantage of investment trends.
Sales Manager
If you want to make a good living and be directly rewarded financially for your performance maybe you should pursue being a sales manager. You will be earning around $124,000 a year and well above this as you progress through your career and manage more people.
We recommend you earn at least a bachelor’s degree to get this type of job. This type of job is growing at 15% every year, so there is plenty of growth with this career path. You will be directing the sales team and operations of a sales territory. A sales manager is a key role in every organization because they generate the revenue that the organization needs to operate and grow.
You must be prepared to travel as a sales manager. A sales manager often oversees a local, regional or national sales team. They also often are meeting and entertaining clients on evenings and weekends
As a sales manager, you will be setting goals, developing training programs, and analyzing data.
These are some of your duties:
- Resolve any customer complaint that related to service and sales right away.
- Approve expenditures and prepare budgets as soon as possible.
- Focus the sales efforts on the data that you gather related to customer preferences.
- Analyze statistics of sales.
- Determine a product or service’s profitability and project sales.
- Determine special pricing plans and discount rates.
- Develop a plan to get new clients through a wide array of sales techniques such as cold calling and business-to-business marketing visits.
- Set sales quotas and assign sales territories.
- Coordinate and plan training programs for any sales staff.
You have to understand that your responsibilities will vary. And this will depend on the organization’s size. You will also direct the sales process by assigning sales territories to different sales agents.
We have talked about some of the best business majors. There are many more. We will continue to add to our lists, so please visit us frequently for our career and educational suggestions.
Sources:
https://www.bls.gov/ooh/Business-and-Financial/Management-analysts.htm
https://www.bls.gov/ooh/business-and-financial/market-research-analysts.htm#tab-2
https://www.bls.gov/ooh/business-and-financial/financial-analysts.htm
https://www.bls.gov/ooh/Management/Sales-managers.htm#tab-2