Economy is one of the oldest science fields and, to this day, remains a popular choice among future students. With a business degree, you can work with just about any industry under the sun, performing various tasks from accounting to marketing and investing.

In this post, we talk about business degrees and how they can translate to a great career and decent earnings.

Profitable and secure

Many students opt for a business career because of the safety it provides. No matter how the economy transforms in the future, we’ll always need people to manage and reroute companies’ funds. The best thing yet is that with this degree, you can easily pivot to different industries or start your own business. This knowledge also helps when investing in financial vehicles and real estate.

According to the data from 2023, a person with a business degree can expect a median wage of $69,000. Given there are almost 13 million Americans working in the related field, the profession is obviously popular.

Another great perk of business degrees is that they translate well to the international markets. Unlike the legal field, where professional needs to learn local legislation before seeking a job in another country, business economist don’t have to worry about anything of the sort.

Advancement and growth

Regardless of your major, you can somewhat easily transition to other business fields. That way, you can jump from a role to a role within the company, gaining better and better opportunities. This is especially great for employees who work in large organizations as it gives them a chance to advance up the corporate ladder without changing companies.

Although you can always advance and learn new things, the economy isn’t that progressive as some other fields. For example, unlike the IT sector, you’re not hard-pressed to adjust to new technology and programming languages. In other words, you can grow at your own pace to fulfill (or not) your ambitions.

Diversity

If you’re a versatile person always looking to learn something new, the economy might be just the right profession. While science itself is somewhat static, guided by basic postulates from several decades ago, the thing that makes it dynamic is the involvement of various industries.

For example, auditors might initially start with small business accounting clients and work their way up to large conglomerates. Over time, you’ll get introduced to various products, services, and processes, making for an exhilarating professional experience.

As there are so many companies and positions to choose from, you can also work for brands that share your personal beliefs. For example, you can go with tech-driven IT companies or environmentally-friendly food processing brands. That way, you can always feel satisfied with the job you’re doing.

Real-world impact

Businessmen were always the ones behind technological improvement and societal progress. They are directly involved in generating jobs, driving growth, and boosting the quality of life. If you find yourself in the right spot, you can have a major impact on the local community and the country as a whole.

Depending on the size and reach of the company, your work might even have a global impact. Some organizations have enormous budgets and invest heavily in R&D, so one day, you might be directly or indirectly involved in the next big technological breakthrough.

Relationship building

People working in marketing and sales, but also other business fields, usually create a large network of connections during their business careers. Some of these connections will lead to long-lasting friendships, while others might provide tangible business opportunities.

Having a vast network of acquaintances is especially important if you decide to transition to entrepreneurship. Through your contacts, you can learn about lucrative financial vehicles, market gaps, and new products. Besides advising, your friends can also involve you in profitable and interesting projects.

Early retirement

In the last few years, there has been more and more talk about the importance of money management. In fact, some business experts have started to advocate for the introduction of basic financial classes into elementary schools.

Understanding how to properly use your money and invest it wisely can lead to various advantages. The biggest one is the fact it can allow early retirement.

Unlike other investors, business graduates have a good understanding of various concepts such as ROI and inflation. They can create a short-term or long-term strategy according to their goals, risk-adversity and profit requirements. As a result, they can put some money into various projects in their late 20s, early 30s preparing for early and comfortable retirement.