what are the types of business education

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What Are the Different Types of Business Degrees?

Bethany Garner - BusinessBecause

Bethany Garner is a writer at BusinessBecause.com

With so many different types of business degrees to choose from, how do you figure out the right option for you?

You might be an early career professional looking to get your foot on the corporate ladder, or an executive looking to change the way we look at a specific business issue. Either way, there is a master’s degree in business for you.

Here are the most popular types of business degrees.

MBA programs

Of all the different types of business degrees, an MBA—which stands for Master of Business Administration —is the world’s most popular.

It’s a generalist degree, designed to give you a holistic view of how a business operates. Core modules cover things like marketing, finance, accounting, and strategy, and most programs offer electives in several different areas so you can fine tune the program to your needs and specialize if you wish.

Most MBA programs require candidates to have a few years’ work experience before they enroll, which ensures everyone can share their expertise with the rest of the cohort.

An MBA can take your career in many different directions, but some of the most popular industries for grads are consulting, finance, and tech. Many MBA alumni also use the broad overview of business they’ve developed to start a company of their own.

Whatever route you choose, you can expect to be well-compensated . According to data from the Graduate Management Admission Council (GMAC), the median base starting salary for MBA grads is US$115,000—an impressive US$50,000 boost compared with the median salary for bachelor’s grads.

You can study an MBA in a few different formats.

• Full-Time MBA
• Part-Time MBA
• Executive MBA

Quiz: Which Type of MBA Is Right for Me?

When it comes to MBA programs, you have a lot of options. Which type of MBA is right for you? Take our quiz to help you choose.

Business master’s

Business masters come in the form of pre-experience degrees , aimed at recent bachelor’s graduates, or post-experience degrees, for candidates with a few years’ work experience.

By studying a master’s degree in business, you can kick-start your career and access a broader range of opportunities than you could with a bachelor’s degree. Most master’s programs are one year in length , and delivered full-time.

Here are some of the most popular master’s degree in business types, so you can choose the best master’s program for you .

• Master of Management
• Master of Finance
• Master of Business Analytics
• Master of Accounting
• Master of Marketing

Quiz: Which Business Master's Degree is Right for Me?

In just a few short questions get expert advice on which pre-experience business master's degree is the right fit for you and your goals.

Research based business degrees

Whereas most MBA and master’s degree in business programs are typically for early-to-mid career professionals looking to launch, pivot, or accelerate their careers—with Executive MBA programs being the exception—there are a couple of more research-intensive options that might pique your interest in pursuing business education.

Doctor of Business Administration (DBA)

The DBA is a professional doctorate, advanced research degree that involves conducting original research, analyzing data, and producing findings.

The DBA focuses on real-world organizational and business problems, and requires you to produce original and secondary research to examine and solve those problems.

The DBA is typically for those who want a career focused on business and consulting, although many DBA candidates also go on to teach in universities and colleges.

Business PhD degrees

A business PhD is an academic doctorate that, similar to a DBA, requires you to conduct in depth, original research.

Your PhD research will be focused more on developing theories, addressing a gap between theories, or filling a gap in the general body of business knowledge. Your goal with your research might be to change the way people think about business and policy.

Business PhD candidates are typically focused on pursuing a faculty career in higher education or as a researcher in a research center. 

Non-degree options

If you’re thinking about pursuing graduate management education, you don’t have to commit to a full degree.

There are several non-degree options that you might consider. The first of these are certificates.

Certificates offered by business schools allow you to gain highly specific knowledge in a niche area of business that can help you advance your career and be noticed as an expert in your field. That might be in supply chain logistics, analytics, or healthcare management.

There are also Executive Education programs that offer teaching in specific areas of business. London Business School offers executive programs in leadership, strategy, and finance, for example.

Whether you’re just starting out in your career, have experience under your belt and want to accelerate your progression, or want to influence business thinking and policy, graduate management education should be on your radar. 

Wherever you are in your career, there’s a business degree that’ll help you achieve your goals.

Bethany Garner is an experienced writer at BusinessBecause.com , where she's credited with more than 200 articles covering everything from entrepreneurial stories to mental health at work.

She also oversees the BusinessBecause Applicant Question, which poses important admission questions to experts in the field, and regularly hosts webinars on various aspects of the business school experience.

Prior to joining BusinessBecause, Bethany honed her skills as a freelance writer, tackling a wide array of topics from petcare to car maintenance.

Bethany holds a Master’s degree in English Literature from the University of Glasgow, Scotland.

25 Types of Business Degrees [2024 Guide]

Which of the many types of business degrees is right for you? Find out here!

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A business degree can be a wonderful educational path that may lead to many different career opportunities. However, before deciding to pursue a business degree, it is important to become aware that there are various business degrees to choose from.

Types of Business Degrees

These are the best business majors for the future based on salary and projected job growth by the Bureau of Labor Statistics. Click on the one you’re most interested in to jump to that part of the guide.

Business Administration

Data analytics, entrepreneurship, forensic accounting, healthcare management, hospitality management, human resources, international business, internet marketing, nonprofit management, operations management, organizational leadership, project management, public administration, public relations, public safety administration, retail and sales management, small business, sports management, supply chain and logistics.

You should choose a business degree online, or on-campus, that matches your career goals, interests, and educational goals.

A person that chooses to study accounting can pursue a job as an office manager, financial analyst, finance manager, accountant, and more. The average annual salary is $71,550, and the job growth is predicted to be around 4%.

Most people who study accounting learn about auditing, reporting, accounting principles, and information systems used for accounting. Accounting is often best suited for individuals that are detail-oriented and possess strong mathematical skills.

If you plan to earn a degree in business administration, you may begin a career as a project manager, human resources manager, business analyst, or office manager. The typical annual salary that a person with a business administration degree may earn is $73,570 as a project management specialist, and the projected job growth for this occupation is 6% over the next decade.

Students of this program may learn about all subjects dealing with business. For example, you may gain knowledge and skills in advertising, accounting, sales, and information systems.

Business Administration is often suitable for individuals interested in learning about various parts of business and working in different areas of the business field. However, you may be able to choose a specialization or concentration to specifically focus on.

This is a program that uses data heavily to influence business decisions and help companies succeed. Some of the job titles you may hold with this degree are data scientist, analytics manager, data engineer, software engineer, or data analyst.

A person with a degree in data analytics can expect may make an average yearly salary of around $94,280 as a data scientist, and this position is expected to grow 31% over the next ten years.

If you are part of this program, you may learn how to analyze and research data to predict the future positive opportunities and negative risks that may arise for businesses and organizations. A degree in data analytics may be perfect for a person who possesses problem-solving skills, analytical skills, visualization skills, and computer savvy skills.

A degree program in economics may lead you down various career paths, such as financial analyst, business consultant, actuary, or market research analyst. If you decide to pursue this degree program, you may make an average income of $81,590 each year.

Additionally, the predicted job growth for careers in finance is estimated to be 6% over the next ten years. By choosing this specific degree, you may learn the necessary information about microeconomics, macroeconomics, research, competition, and pricing.

This program may be most valuable to a person who enjoys mathematics, researching, analyzing, making predictions, and dealing with large amounts of data.

This degree may be an excellent choice for those interested in starting their own business. It can lead to a variety of job titles, such as marketing manager, project manager, account manager, operations manager, account executive, or founder and president.

The average annual salary that a person with a degree in entrepreneurship generally makes is $73,570, and the projected job growth is around 6%.

Individuals studying entrepreneurship can expect to learn how to create a business plan, determine their budget, market their business, and find the resources needed to make their business run successfully.

The entrepreneurship degree is mainly beneficial for individuals that plan to start their own company or desire to help others start their own company.

This may be a great degree choice for individuals intrigued by dealing with money. The common career paths involving a finance degree are financial analyst, banker, financial advisor, and actuary.

If you decide finance is the best major for you, you may make an average income of $81,590 each year, and the field is expected to grow by about 5% over the next ten years.

The essential aspects of finance that you can plan on learning are financial reporting, analysis, planning, and managing risks that may arise. A degree in finance can be an important asset for those that enjoy using mathematics and helping clients and organizations with their finances and budgets.

Individuals in a forensic accounting degree program may pursue careers as fraud examiners, forensic accountants, fraud investigators, and more. The average annual salary that people with this degree earn is $74,260, and the field is projected to grow by 4% or more in the next few years.

If you are interested in forensic accounting, you can plan on learning how to analyze and investigate different types of fraud, such as bankruptcy, major fraud cases, capital crimes, and even divorces.

This may be a great degree program for those that want to make a career out of using accounting skills along with auditing and investigating. In addition, analyzing and interpreting evidence is a major duty of this field, and you may even be required to participate in court cases.

As a graduate of a healthcare management program, you may earn different job titles such as clinical director, health and social services manager, patient care coordinator, medical practice manager, office manager, or medical records manager.

The average amount of income with this degree that you may make is $86,820, and the jobs available are projected to grow by a tremendous amount of 31% over the next five years.

The healthcare management program is designed to provide students with the knowledge of how to run and manage healthcare facilities. If you are an individual that is interested in learning about the healthcare field and how to manage a healthcare center, this degree may be ideal for you.

This degree is designed to prepare students for careers as restaurant managers, event coordinators, hotel managers, event managers, assistant managers, and more.

The average annual salary graduates of this program may earn is $50,600, and the management roles for food services and lodging is projected to grow by 6-9% in a short amount of time.

In this field, you may learn how to manage restaurants, hotels, special events, and other facilities in the hospitality sector. If you are interested in opening your own restaurant or running someone else’s restaurant or another type of facility dealing with the public, this degree may be beneficial to achieving this goal.

If you want to begin a career as a human resources manager, human resources director, human resources coordinator, or an office manager, this may be an ideal degree program for you.

The average starting salary for a graduate of this program is $61,920, and the projected job growth is 7% over the next 10 years.

If you choose to study human resources, you may learn about the recruitment aspect, legal issues, and compensation and benefits aspects of a business.

This degree program is usually best suited for a person that desires to work in an office environment. The human resources department of a company is the link between management and staff, so you may be responsible for dealing with any complaints or issues that any workers may have.

An individual earning an education in international business may pursue various career roles overseas, such as a financial analyst, marketing manager, project manager, operations manager, or business development manager.

A typical annual salary for a person with this degree is $63,790, and the predicted job growth is 18%.

A degree in international business is designed to provide knowledge on how to effectively run and manage businesses in other countries. If you are interested in traveling and learning about foreign countries’ money systems, this degree may benefit you.

If you are an individual that plans to begin a career as a marketing manager, marketing coordinator, marketing director, marketing specialist, or marketing associate, a degree in internet marketing may be a great choice to consider.

The average annual salary a graduate in this field can make is $61,520, and the marketing field in general is predicted to grow by 18% over the next five years.

This degree may teach you all the fundamentals of marketing on social media platforms and other internet websites. If you are thinking about operating a business online and want to learn how to gain attention from customers with your products and services, a degree in internet marketing may be a great option to teach you how to do so.

This degree can lead to great employment opportunities, such as an administrative assistant, operations manager, human resource manager, project manager, office manager, and more.

The average annual income that a degree in management may bring you is $58,760, and management roles are expected to grow by 5% in the upcoming years.

If you select this degree, you may learn the importance of business management and administration, human resources, how to develop leadership skills, and how to become more organized.

A person that plans to manage a business one day may find a degree in management essential to his or her career. This degree focuses on teaching you how to keep a company or business running smoothly.

Graduates of the marketing program usually begin careers as marketing managers, marketing coordinators, marketing specialists, marketing directors, and marketing associates.

The typical average salary for a person with a marketing degree is around $74,510, and the jobs in this field are expected to grow by 18% within the next few years.

Graduates may complete the program with exceptional knowledge of consumer behaviors, branding, analytics, pricing, and how to market successfully using social media platforms.

This degree is most often suitable for an individual that desires to learn how to create relationships and satisfy their customers. It may teach you how to attract certain customers to buy your product or service, which is essential to creating and managing a successful business.

This degree is often essential for achieving careers as an executive director, program manager, director of operations, operations manager, development coordinator, grants manager, and many other opportunities involving a nonprofit organization.

Graduates of this program make an average yearly salary of $67,150.

The jobs in the nonprofit sector are projected to grow at a fast rate of 17% over the next ten years. If you choose a degree in nonprofit management, you can plan to learn how to manage finances, fundraisers, and supervise volunteers.

A career in nonprofit management usually involves some type of meaningful work. If you want to be a part of managing an organization that is standing for a social cause or helping the public in some way, a degree in nonprofit management may serve you well.

A person with a degree in operations management may find themselves working as an operations manager, director of operations, executive director, retail store manager, or restaurant manager.

Operations management degree holders make on average around $73,190 a year. Over the next couple of years, the job growth for professionals in operations management is expected to rise by 4%.

A degree in operations management may focus on teaching you how to come up with and produce products and services for consumers in the most efficient way. If you are a person that is interested in managing and coordinating the operations of a business behind the scenes, this is a degree you may want to consider.

This is a wonderful degree program for many that can lead to various career paths, such as human resources manager, operations manager, human resources director, office manager, or executive director.

The average salary that a professional in the field of organizational leadership makes is $61,210. Within the next few years, this field is expected to expand by 9%.

A degree in organizational leadership is designed to provide students with the knowledge and skills to successfully motivate, interact with, and encourage other individuals in a workplace. It is important for a graduate of the program to master the skill of leadership.

This may be the perfect program of study for individuals that wish to be leaders and use a more personal approach with other people in the workplace.

The study of project management may lead to careers as project managers, operation managers, project engineers, or IT managers. The average yearly pay for a person with this degree is $73,570, and the field is predicted to grow by 6% in the next few years.

This degree teaches students how to oversee teams and manage projects. The ideal goal is to make sure your team achieves a certain objective promptly and within the expected budget. If you are interested in joining a company and being in charge of specific projects, a degree in project management may be beneficial.

Students studying public administration may enter several different career paths, such as human resources director, administrative assistant, operations manager, executive director, human resources manager, and more.

The average salary for this field is $60,180, and the demand for this type of employee is predicted to grow at a high rate of 17% within the next few years.

A degree in public administration usually prepares students for a career in public service as well as focusing on how to manage projects. This degree is often suited for individuals wishing to make an impact on the public in some way.

If you are looking to begin a career as a marketing coordinator, marketing manager, marketing director, account executive, account coordinator, or public relations manager, consider earning a degree in public relations.

The typical annual salary for an individual that has completed this program is $61,150, and the growth of jobs in this field is estimated to increase by 7% over the next few years.

As a student in the public relations program, you can expect to learn how to create and gain exposure by developing public interest. Examples of ways to create and gain exposure are writing news releases, speaking with the press, and participating in interviews and speech conferences.

This degree is often most suitable for individuals that are dedicated to dealing with the public and gaining public exposure for a company to succeed.

If the job titles of firefighter, police officer, sheriff’s patrol officer, fire chief, 9-1-1 dispatcher, firefighter paramedic, software engineer, and emergency medical technician sound like a good fit for you, you might want to consider a degree in public safety administration.

The general salary for a person with a public safety administration degree is $77,800, and the growing field is estimated to expand by 6% within a few years.

Students studying public safety administration are taught disaster relief, response techniques, how to be prepared for any situation, and recovery methods. A person intrigued with a career involving saving lives may be an excellent fit for this degree program.

Graduates of the retail and sales management program may earn job titles as retail store managers, account directors, training and development specialists, office managers, merchandise planners, or inside sales managers.

The average annual salary of a retail and sales management degree is $61,210, and this field is anticipated to grow an average of 4% through the next decade.

A retail and sales management program helps students prepare for management roles in retail, marketing, and public service industries. The critical skills taught to succeed in these roles are analytical skills, reasoning skills, and excellent communication.

Any person interested in pursuing a career as a manager in a retail or sales environment should consider earning a degree in retail and sales management.

A student majoring in small business may pursue careers in small companies and organizations, such as a project manager, recruiter, junior estimator, director of operations, compensation analyst, or operations manager.

Most individuals with this degree make an average of $64,560each year, and the job growth is projected to increase by 8% within the next decade.

A degree in small business focuses on teaching strong business skills, such as how to develop your own business, determine your budget, and build customer relations. Individuals that are serious about creating their own business or interested in helping others manage and develop their own business may want to apply to small business programs.

A degree in sports management may help you achieve a career as a marketing manager, operations manager, marketing director, account manager, or athletic director. The average annual salary for a person who has graduated from this program is $73,740, and the field is predicted to grow by 12% over the next decade.

If you are curious about what a degree in sports management entails, you may learn about working with athletes, managing athletic facilities, and traveling and helping athletic teams. If this sounds like a good fit for you, you may want to begin researching degrees in sports management.

This can be a great educational degree for individuals hoping to earn the following job titles: logistics specialist, logistics analyst, logistics manager, operations supervisor, or supply chain manager.

Graduates of the supply chain and logistics program make an average salary of $74,750, and the jobs in the field are predicted to grow at an average pace of 5%.

If you choose to study supply chain and logistics, you may gain the necessary knowledge on managing employees, resources, and information related to the movement of a service or product from the supplier to the customer.

A person that is interested in planning and organizing the entire process of a product or service moving throughout a business or company is often a good candidate for this degree.

Accreditation for a Business Degree

Accreditation is an important factor to look for while researching business degrees.

Before applying to a college or university, make sure it has received its accreditation from a real accrediting agency. Most colleges and employers deem it necessary for you to graduate from a program that has been accredited, whether it is campus-based, online, or an accelerated business degree program. This shows you have graduated from a program that meets the standard educational requirements to succeed in the business field.

The most common type of accreditation is regional accreditation based on their location. For example, the Middle States Commission on Higher Education provides accreditation to colleges and universities in New York, New Jersey, Pennsylvania, Delaware, Maryland, and the District of Columbia.

Another regional accrediting agency is the Southern Association of Colleges and Schools, which accredits colleges and universities in Alabama, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, Texas, and Virginia.

Financial Aid for Business Majors

If you are worried about being able to afford a business degree, there are different types of financial aid that you may be qualified to receive. Most college students around the world receive some type of financial assistance in order to complete their education.

Some of the financial aid options to check into are grants, scholarships, awards, student loans, and work-study programs.

If you have found a college you plan to attend, simply fill out the Free Application for Federal Student Aid (FAFSA) . This is a quick, easy application offered by the federal government that determines if an individual qualifies for any financial assistance and how much assistance they may receive.

Questions Related to Earning a Business Degree

Here are our answers to a few more questions you might have.

What Are the Different Types of Degrees?

The different types of degrees are associates, bachelor’s, master’s, and doctorate degrees. An associate degree can be earned at a community college and typically takes about two years to complete. A bachelor’s degree usually takes around four years to complete and is usually received at a public or private college or university.

A master’s degree (MBA) is the next level of education after a bachelor’s degree; it usually takes between 1 and 3 years of additional time after you have earned a bachelor’s degree.

Lastly, a doctorate degree in business, which can be a DBA (Doctor of Business Administration) or PhD, usually takes 3-5 years after a bachelor’s or master’s degree.

The difference between a DBA and PhD is that a PhD is a research degree and a DBA is a professional degree with theoretical knowledge as its focus. An individual that plans to begin a career teaching or conducting research should consider getting their PhD in business administration online , whereas a DBA is most often suitable for an individual that desires to practice business and management.

What Type of Business Degrees are There?

There are countless options for business degrees. Some schools may offer five different business degrees, and some schools may offer 20.

It is very popular to earn a business degree, but you must decide which type may benefit you the most. For example, there are business degrees in accounting, economics, finance, entrepreneurship, marketing, human resources, and more.

What you take depends on what your personal and professional goals are and what you would like to focus on while earning an education.

What Major Should I Choose in Business?

This answer can only be determined by you; it is up to you to decide which major in business you should choose. Make sure the degree you choose matches your educational goals, interests, and career goals.

You may not be happy if you choose the major that makes more money over the major that aligns with your interests and objectives. The major you select can alter your prospective career path, so it is important that you put forth the effort and time to ensure you make the right choice.

Which Type of Business Degree is Best?

The best type of business degree is the one that is beneficial to you and your pursuits. There are numerous types of business degree programs being offered throughout the world that provide excellent knowledge and skills to prepare students for success.

The decision ultimately depends on what you would like to concentrate on and what type of career path you plan to pursue. Once you decide on a subject area, you need to plan on how to get your business degree online and start applying to colleges and universities offering the specific program of your choice.

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Business Education

Business education is a term that encompasses a number of methods used to teach students the fundamentals of business practices. These methods range from formal educational degree programs, such as the Master of Business Administration (MBA), to school-to-work opportunity systems or cooperative education. Business education programs are designed to provide students with the basic theories of management and production. The main goals of business education programs are to teach the processes of decision making; the philosophy, theory, and psychology of management; practical applications; and business start-up and operational procedures.

TYPES OF BUSINESS EDUCATION PROGRAMS

Traditional academic programs for business education include college courses that teach students the fundamentals of management, marketing, business ethics, accounting, and other relevant topics. These have been supplemented in recent years with extensive course offerings in computer skills, e-commerce management, and other factors in managing a business within the global economy. Students can earn degrees ranging from an Associate degree in business to a Ph.D (Doctor of Philosophy) in business administration. Some programs may consist of classwork only, while others—such as tech-prep and cooperative education programs, internships, and school-to work opportunities—combine academics with on-the-job training.

Tech-Prep Programs

A tech-prep program is a four-year planned sequence of study for a technical field which students begin in their junior year of high school. The program extends through either two years of college in occupational education, or a minimum two-year apprenticeship. Students who complete the program earn either certificates or Associate degrees.

Cooperative education (co-op) is a program which offers students a combination of college courses and work experience related to their majors. Co-op programs are available in a wide range of business disciplines, e.g., information systems, accounting, and sales. Participants enroll in a postsecondary educational program while employed in a related job. Most co-op participants are paid by their employers. The co-op program provides students with the work experience they need to obtain full-time employment after graduation. More than 1,000 postsecondary educational institutions and 50,000 employers participate in co-op programs throughout the United States.

Internships

Internships are related closely to co-op programs. The main difference, however, is that those who participate in internship programs are not paid, as internships are designed specifically to provide participants with work experience. Often, interns will complete the program separately from their academic setting, rather than combining the two.

School-to-Work Programs

School-to-work opportunity programs focus on career awareness for students. They provide participants with work mastery certificates and furnish them with links to technical colleges. In these programs, all participants have jobs, apprenticeships, or further schooling after finishing high school.

Career Academies

Career academies are occupationally focused high schools that contain "schools within schools." Primarily, they train high school juniors and seniors in such areas as environmental technology, applied electrical science, horticulture, and engineering. In addition to these schools, there are also privately operated business schools that grant certificates to students who complete their programs.

All of these types of business education programs provide participants with career paths for high-skill technical and professional occupations by formally linking secondary and post-secondary education, and by integrating academic and occupational learning. Students who complete such programs gain an advantage over people who concentrate solely on the academic part of business education. Whichever route students use to acquire a basic knowledge of business skills and principles, there exist ample opportunities to prepare them for business careers.

ENTREPRENEURS AND THE MBA

In the past, many entrepreneurs viewed the Master of Business Administration (MBA) degree as unnecessary to small business success, and some believed that it stifled the creativity that allowed small businesses to develop and grow. Most entrepreneurs counted on their energy, work experience, industry knowledge, and business connections rather than on their formal business education. In the late 1990s this attitude began to change and increasing numbers of entrepreneurs chose to pursue an MBA degree. Two reasons for this change are often cited. First, today's business world often requires small companies to compete for the same customers as much larger, professionally managed corporations. Second, entrepreneurs are finding that even their smaller competitors are likely to be run by MBAs, as more downsized executives decide to start their own companies. And the appeal of the MBA to entrepreneurs seems to runs in both directions. According to Della Bradshaw in an article appearing in The Financial Times , "while the dotcom boom caused frenzy in MBA ranks, business schools themselves report that the 1998 to 2001 boom was just a blip in the sustained interest students have shown in entrepreneurship over the years."

The MBA degree offers entrepreneurs a set of sophisticated management tools that can be brought to bear on the challenges of running a small business, including economic analysis, marketing knowledge, strategic planning, and negotiating skills. In addition, a business education can help many small business owners to broaden their viewpoints and recognize trends within their business or industry.

Yet another reason for the increase in entrepreneurs pursuing MBA degrees is that most such programs have become more practical in recent years. In addition to teaching theory, MBA programs are increasingly emphasizing teamwork, hands-on experience, and cross-disciplinary thinking. This approach makes the MBA much more applicable to the entrepreneur's interests and experience.

BIBLIOGRAPHY

Alon, Ilan, and John R. McIntyre, Business Education and Emerging Market Economies . Stringer, 2004.

Avis, Ed. "Plugged-in Professors: Business Schools Must Balance Traditional Lessons with Tech Trends." Crain's Chicago Business . 2 October 2000.

Bradshaw, Della. "Entrepreneurs are Back in the Classroom." The Financial Times . 21 April 2003.

Cashill, Jack. "Capitalizing on Business Education." Ingram's . July 2000.

Mitchell, Meg. "A Difference of Degree." CIO . September 2000.

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20 Different Types of Business Degrees: Top Specializations

Have you been browsing business degree programs and scouring job titles, wondering which one is the best fit for your career goals? Business is a diverse and dynamic field that offers a wide range of career opportunities. If you’re interested in pursuing a career in business, you may be wondering what types of degrees are available to help you achieve your goals.

Business degrees are not one-size-fits-all. Many factors should be considered when pursuing a business administration degree or switching career paths. There are a variety of business majors in undergraduate and graduate business schools. Business careers should align with your skills, strengths, interests, and what you want out of the rest of your career. 

There are many different types of business degrees to choose from, each with its own set of business courses and areas of focus. A degree in business administration encompasses many different areas you could specialize in. Let’s explore what kind of business degrees and specializations you can get, and what factors to consider when choosing which career path is right for you.

7 Types of Specialized Business Degrees

Specialized business degrees are becoming increasingly popular among students who are looking to pursue careers in specific areas of business. Unlike general business degrees, which provide a broad overview of various aspects of business, specialized degrees focus on a specific field or industry. These degrees offer students in-depth knowledge and skills in their chosen field, preparing them for successful careers in highly specialized industries. 

International Business

An international type of business degree is an excellent option for students who are interested in pursuing careers in global industries and who want to develop the skills and knowledge they need to succeed in an increasingly interconnected world. This area of business will teach you how to successfully run businesses in other countries and help you land various roles in those countries.

Entrepreneurship

A degree in entrepreneurship is an excellent option for students who are interested in starting their own businesses, as well as those who are interested in careers in innovation and new product development. If CEO doesn’t fit your desired job title, you can earn an entrepreneurship degree and be prepared for roles such as project management, operations management, or organizational leadership. This degree hones your management skills to help you be successful in any leadership position.

A marketing degree prepares students for careers in marketing and advertising, where they can help businesses develop and implement marketing strategies to effectively reach their target audiences. This degree educates you on consumer behaviors, market research, and branding. You will be uniquely successful in this field if you have good management skills and a passion for building relationships with new and existing customers. Roles in this area of business include market research analyst, marketing manager, chief marketing officer, marketing specialist, or marketing data analyst.

An accounting degree gives students the fundamentals for careers in accounting and finance, where they can help businesses and organizations manage their financial operations. Accountants know about auditing, reporting, and information systems. Professionals are particularly successful in these roles if they have attention to detail.

This degree prepares students for careers in finance, where they can help businesses and organizations make informed financial decisions and manage their financial operations. Roles in this area of business include sales manager, banker, financial analyst, or financial advisor.

Human Resources

Human resources is a rapidly growing field, with increasing demand for skilled professionals who can help organizations attract and retain top talent. As businesses become more focused on creating positive work environments and developing diverse and inclusive workforces, the demand for HR professionals is expected to continue to grow. A degree in HR will help you land roles in human resource management, recruitment, or as a services manager. HR professionals are most successful when they possess strong management skills, conflict-resolution skills, and organizational leadership skills. 

Supply Chain Management

Supply chain management is swiftly expanding as well, with increasing demand for skilled professionals who can help organizations meet the challenges of a globalized economy. As businesses become more focused on reducing costs and improving efficiency, the demand for SCM professionals is expected to continue to grow. According to the Bureau of Labor Statistics, supply chain management is expected to increase by 28% by 2031, which is much faster than the national average.

4 Types of Bachelor’s Degrees in Business

A bachelor’s degree in business is designed to prepare students for entry-level positions in various industries, as well as provide a strong foundation for those who wish to pursue graduate studies in business. These degrees are a popular choice for students who want to pursue a career in this burgeoning field.

Bachelor of Business Administration (BBA)

BBA programs are designed to prepare students for entry-level positions in various industries, such as finance, marketing, human resources, and management. This is a four-year undergraduate degree that allows you to major in various specializations of business as well as core requirements. Graduates of BBA programs may also go on to pursue graduate studies in business, such as an MBA or a Master of Science (MS) in Business.

Bachelor of Science (BS) in Business

BS in Business programs prepare students for a wide range of careers in business, including positions in finance, marketing, accounting, and management. Students in Bachelor of Science in Business programs may also have the opportunity to specialize in a particular area of business, such as entrepreneurship, business management, supply chain management, or business analytics through elective courses. A Bachelor of Science in Business undergraduate degree gives you a foundational knowledge of how the business field functions.

Bachelor of Arts (BA) in Business

BA in Business programs focus on giving students foundational business knowledge through liberal arts studies. These programs are designed to prepare students for a wide range of careers in business, as well as for graduate studies in business or related fields. Graduates of BA in Business programs may go on to pursue careers in areas such as marketing, advertising, public relations, and management, as well as in fields outside of business, such as law, government, and nonprofit organizations. 

Bachelor of Commerce (BCom)

The Bachelor of Commerce (BCom) is a type of bachelor’s degree in business that is offered in many commonwealth countries, particularly in Canada, Australia, and New Zealand. BCom programs are designed to prepare students for a wide range of careers in business, such as accounting, finance, marketing, business law, business operations, and management. A Bachelor of Commerce gives students general business knowledge and operation best practices, which is particularly helpful for small business owners. BCom graduates may go on to pursue graduate studies in business, such as an MBA or a Master of Science (MS) in Business.

7 Types of Master’s Degrees in Business

A master’s degree in business can lead to a wide range of career opportunities in fields such as finance, marketing, management, accounting, and entrepreneurship. Many programs also offer specialized tracks or concentrations that allow students to focus their studies on a particular area of interest. Let’s explore master’s degree in business options. 

Master of Business Administration (MBA)

MBA programs are for individuals who have already completed a bachelor’s in business or a related field, and who are looking to further their education and advance their careers. Master of Business Administration programs typically require students to complete a combination of core business courses in areas such as accounting, finance, marketing, and management, as well as elective courses that allow students to specialize in their area of interest. People who pursue an MBA typically have about five years of work experience or go in an Early Advantage MBA program .

Master of Science (MS) in Business

MS in Business programs are designed for individuals who have already completed a bachelor’s degree in business or a related field and who have a strong background in quantitative subjects such as mathematics, medicine, engineering, or science. MS master’s degrees typically require students to complete a combination of core business courses in areas such as accounting, finance, marketing, and management, as well as advanced courses in subjects such as data analysis, econometrics, and statistical modeling.

Master of Accountancy (MAcc)

MAcc programs typically include advanced courses in accounting theory and practice, as well as courses in related areas such as taxation, auditing, and financial statement analysis. Many of these master’s degree programs require students to complete a certain number of hours of work experience in the accounting field, often through internships or other professional opportunities. This accounting degree will give you specialized accounting skills that will help you qualify for top-notch accounting jobs. 

Master of Finance (MFin)

Master of Finance degree programs typically include advanced courses in financial theory and practice, as well as courses in related areas such as investments, financial markets, and corporate finance. Many programs require students to complete a certain number of hours of work experience in the finance field, often through internships or other professional opportunities. People with this degree are typically expected to perform financial analyses for businesses. Career paths with this degree include being a financial manager, a financial analyst, or a financial advisor.

MBA/MPH (Master of Public Health)

The MBA/MPH program typically takes three years to complete and requires students to complete coursework in both business and public health. Some programs may also require a capstone project or internship in a healthcare organization. Students in this program often benefit from the diverse perspectives and experiences of their classmates, who come from a range of backgrounds in business, healthcare, and public health.

These professionals protect the health of populations and communities and educate others on healthcare management best practices. Roles in this field include healthcare administration, community outreach coordinator, or health educator. A master’s degree in this area is most well-rounded if you have a medical background . 

MBA/MPP (Master of Public Policy)

The MBA/MPP program typically takes three years to complete and requires students to complete coursework in both business and public policy. Some programs may also require a capstone project or internship in a public sector organization. In this program, students often learn a lot from their peers, who bring a wide array of experiences and ideas from the world of business and public policy.

Work experience in this area consists of auditing current policies to identify improvements and form solutions to policy gaps. Roles in this area include certified public accountant, public relations, and human resources, as well as various roles in the nonprofit or government sectors. Most top B-schools provide MBA/MPP accreditation, providing you with many career options.

MBA/MSW (Master of Social Work)

The MBA/MSW program typically takes three years to complete and requires students to complete coursework in both business and social work. Some programs may also require a field placement or internship in a social service organization. Students in this program benefit from the diverse perspectives and experiences of the other students, who come from a range of backgrounds in business and social work. Many professionals with this degree go into public relations or the nonprofit sector.

Advanced Types of Business Degrees

Beyond Master’s degrees, there are two main types of degrees that are even more advanced and offer the highest level of business education. These come in the form of Doctoral and PhD degrees, which are highly rigorous and specialized.

Doctoral Degrees in Business

Doctoral programs in business typically require students to complete a rigorous curriculum that includes advanced courses in research methodology, statistics, and data analysis. There are numerous benefits of a doctoral degree in business. Graduates of these programs are well-equipped to pursue academic careers, as well as leadership positions in industry or government, where their research skills and expertise can be put to use.

DBA programs typically involve advanced business theory and practice courses, research methodology, and data analysis. Students are also required to conduct original research under the guidance of a faculty advisor and to write and defend a dissertation that significantly contributes to the field of business.

PhD. in Business

Ph.D. programs in business typically involve advanced coursework in research methodology, data analysis, and business theory, as well as independent research projects under the guidance of a faculty advisor. Students are required to complete a dissertation that significantly contributes to the field of business and defend it in front of a committee of experts.

Factors to Consider When Choosing a Business Degree

Choosing a business degree can be a daunting task, as there are various factors to consider before making a decision. With so many types of degrees available, it’s important to understand your interests, professional goals, and personal preferences. Choosing the right business degree program is an important decision that requires careful consideration alongside your life goals.

Personal Interests and Career Goals

Consider where you see yourself in the future and what kind of job you would like to have. If you want to work in management, an MBA might be the right choice. If you want to work in accounting, a degree in accounting might be more suitable. By aligning your degree with your career goals, you can acquire the skills and knowledge needed to succeed in your desired field.

Cost and Time Commitment

When considering cost and time commitment, it’s essential to weigh the benefits of the degree against the investment required. While pursuing a business degree can be expensive and time-consuming, it can also provide a significant return on investment in terms of career opportunities and earning potential.

Reputation of the Program and School

When considering the reputation of a program or school, it’s important to look at factors such as accreditation, rankings, and reviews from current and former students. Accreditation ensures that a program meets certain standards of quality and can provide a solid foundation for your education. Rankings can also be helpful, although it’s important to note that they can vary depending on the source and criteria used.

Job Outlook and Potential Earnings

It is important to research the job outlook for different business fields, as this can also be helpful in determining the potential demand for jobs in a particular area. This can help ensure that graduates will have ample opportunities to enter the workforce and advance in their careers. The job outlook for your desired specialization may speed up your decision-making process.

For example, if you do not want to make about $74,000 managing social media and researching industry pricing when the job outlook is expected to grow by 18%, marketing may not be for you. However, if you are interested in making a similar salary to delegate products from the supplier to the customer, supply chain management may be a more suitable match.

Final Thoughts

Associate degree… or bachelor’s? Should you explore master’s degree programs, or go straight into a doctoral program? Would you like to be on campus or get an online degree? What about specialized certificate programs? All of these are valid questions when making such a big decision. Ultimately, you should consider your long-term life and career goals, the cost and time commitment, and the outlook of the fields you are considering. The choice is yours.

If you need guidance in choosing your next career move, we can help . With our expert counselors, robust network of industry professionals, and a community that fosters growth and innovation, we don’t just offer advice — we partner with you to ensure your career trajectory is on the rise. Trust in Crummer to be the catalyst that propels you toward your aspirations.

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• Business Education

BUSINESS EDUCATION

Business education is a term that encompasses a number of methods used to teach students the fundamentals of business practices. These methods range from formal educational degree programs, such as the Master of Business Administration (MBA), to school-to-work opportunity systems or cooperative education. Business education programs are designed to instill in students the basic theories of management and production. The main goals of business education programs are to teach the processes of decision making; the philosophy, theory, and psychology of management; practical applications; and business start-up and operational procedures.

TYPES OF BUSINESS EDUCATION PROGRAMS

Traditional academic business education programs include college courses that teach students the fundamentals of management, marketing, ethics, accounting, and other relevant topics. These have been supplemented in recent years with extensive course offerings in computer skills, e-commerce management, and other elements of the "new economy." Students can earn degrees ranging from an Associate to a Ph.D (Doctor of Philosophy) in business administration. Some programs may consist of classwork only, while others—such as tech-prep and cooperative education programs, internships, and school-to work opportunities—combine academics with on-the-job training.

A tech-prep program is a four-year planned sequence of study for a technical field which students begin in their junior year of high school. The program extends through either two years of college in occupational education, or a minimum two-year apprenticeship. Students who complete the program earn either certificates or Associate degrees. Cooperative education (co-op) is a program which offers students a combination of college courses and work experience related to their majors. Co-op programs are available in a wide range of business disciplines, e.g., information systems, accounting, and sales. Participants enroll in a postsecondary educational program while employed in a related job. Most co-op participants are paid by their employers. The co-op program provides students with the work experience they need to obtain full-time employment after graduation. More than 1,000 postsecondary educational institutions and 50,000 employers participate in co-op programs throughout the United States.

Internships are related closely to co-op programs. The main difference, however, is that those who participate in internship programs are not paid, as internships are designed specifically to provide participants with work experience. Often, interns will complete the program separately from their academic setting, rather than combining the two.

School-to-work opportunity programs focus on career awareness for students. They provide participants with work mastery certificates and furnish them with links to technical colleges. In these programs, all participants have jobs, apprenticeships, or further schooling after finishing high school.

Career academies are occupationally focused high schools that contain "schools within schools." Primarily, they train high school juniors and seniors in such areas as environmental technology, applied electrical science, horticulture, and engineering. In addition to these schools, there are also privately operated business schools that grant certificates to students who complete their programs.

All of these types of business education programs provide participants with career paths for high-skill technical and professional occupations by formally linking secondary and postsecondary education, and by integrating academic and occupational learning. Students who complete such programs gain an advantage over people who concentrate solely on the academic part of business education. Whichever route students use to acquire a basic knowledge of business skills and principles, there exist ample opportunities to prepare them for business careers.

ENTREPRENEURS AND THE MBA

In the past, many entrepreneurs viewed the Master of Business Administration (MBA) degree as unnecessary to small business success, and some believed that it stifled the creativity that allowed small businesses to develop and grow. Most entrepreneurs counted on their energy, work experience, industry knowledge, and business connections rather than on their formal business education. But in recent years, increasing numbers of entrepreneurs have chosen to pursue an MBA degree. Jay Finegan, writing in Inc., suggested two reasons for this change. First, today's business world often requires small companies to compete for the same customers as much larger, professionally managed corporations. Second, entrepreneurs are finding that even their smaller competitors are likely to be run by MBAs, as more downsized executives decide to start their own companies.

When they face the fact that their competitors' business training might offer them an advantage, many entrepreneurs choose to pursue an MBA in order to even the playing field. The MBA degree offers entrepreneurs a set of sophisticated management tools that can be brought to bear on the challenges lenges of running a small business, including economic analysis, marketing knowledge, strategic planning, and negotiating skills. In addition, a business education can help many small business owners to broaden their viewpoints and recognize trends within their business or industry.

Yet another reason for the increase in entrepreneurs pursuing MBA degrees is that most such programs have become more practical in recent years. In addition to teaching theory, MBA programs are increasingly emphasizing teamwork, hands-on experience, and cross-disciplinary thinking. This approach makes the MBA much more applicable to the entrepreneur's interests and experience.

FURTHER READING:

Avis, Ed. "Plugged-in Professors: Business Schools Must Balance Traditional Lessons with Tech Trends." Crain's Chicago Business. October 2, 2000.

Cashill, Jack. "Capitalizing on Business Education." Ingram's. July 2000.

Finegan, Jay. "Too Cool for School: For Generations, Entrepreneurs Have Loathed Everything about the MBA. So Why Are So Many Now Going Back to Get One?" Inc. October 1996.

Mitchell, Meg. "A Difference of Degree." CIO. September 2000.

Sharp, Arthur G., and Elizabeth O. Sharp. The Business-Education Partnership. International Information Associates, 1992.

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Types of Business School Degrees

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Business degrees can greatly increase your job opportunities and earning potential. You can earn a general business degree or specialize in one of the many different disciplines that can be pursued and combined. The options shown below are some the most common and popular  business school  degrees and specializations. Most of these degrees can be earned at the undergraduate and graduate level .

Accounting Degree

With the enactment of new corporate accounting laws in the U.S., accounting degrees are in demand. There are three different classes of accountants: Certified Public Accountant (CPA), Certified Management Accountant (CMA), and Certified Internal Auditor (CIA) and the degree requirements vary for each. Students who earn degrees in accounting will study the aspects of managerial accounting, budgeting, financial analysis, auditing, taxation, and more. 

Business Administration

Students who major in business administration study the management, performance and administrative functions of business operations. Administration can encompass everything from finance and economics to marketing and operations management. A business administration degree is very similar to a general business degree; sometimes the terms are used interchangeably. 

Business Management Degree

Degrees in business management can be pursued singularly or it can be combined with specialized studies. Students who earn business management degrees are prepared for managing positions in a wide range of companies. Advanced degrees can lead to high-paying positions such as CEO and Senior Administrator. 

Entrepreneurship Degree

Entrepreneurship degrees often include training that encompasses aspects of accounting, ethics, economics, finance, strategy, operations management , and marketing. Students who acquire a degree in entrepreneurship will be equipped with the knowledge needed to organize and operate a new business venture. 

Finance Degree

Finance degrees can lead to a variety of jobs in public and private organizations. Job opportunities include investment banker, budget analyst, loan officer, real estate professional, financial advisor, and money market manager. Because this profession is expected to grow at a very fast rate within the next ten years, students who achieve a degree in finance will most likely be in demand. 

Human Resources Degree

A degree in human resources is almost a necessity to work in the human resources field. This fast growing area of business is always in need of people with superior interpersonal skills who are well-versed in areas of recruitment, training, compensation and benefits administration, and human resources law.  

Marketing Degree

A degree is marketing is often combined with business management . Students who pursue marketing degrees will learn about advertising, strategy, product development, pricing, promotion, and consumer behavior. 

Project Management Degree

The field of project management really exploded on the business scene a couple of decades ago, and many business schools are still working to offer this degree option to business majors. Most of the people who earn a project management degree go on to work as a project manager. The average project manager has at least a bachelor's degree, but master's degrees are not uncommon in the field and may be needed for more advanced positions. 

• A List of the Most Common Business Degrees
• Should I Earn a Business Degree?
• Business Administration Education and Careers
• Should I Earn an Entrepreneurship Degree?
• Should I Earn an Operations Management Degree?
• Should I Earn a Management Degree?
• Business Majors: Finance
• Should I Earn a Project Management Degree?
• Should I Earn a Finance Degree?
• MBA Career Options
• The Most Lucrative Business Majors By Starting Salary
• The 10 Best Business Schools in Texas
• Should I Earn a Marketing Degree?
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• What Can I Do With a Masters in Business Administration?

Major: Business

Business is ubiquitous in our society. We conduct business in a variety of ways every day, including using smartphones, streaming shows, and purchasing food. In-store or online, our day-to-day activities or the items we purchase all begin with a business idea. 

People's personalities shape their preferences and what they deem essential. That's where businesses come in. Behind the scenes, various business professionals are working toward an organization's goals. Whatever the goods or services an organization sells to consumers, it's your job to ensure your company's objectives are met.

As a business student, you'll take accounting, finance, economics, marketing, human resources, and project management classes. And because today's society is immersed in technology, your coursework will include classes on how the digital world impacts businesses.

What does a student majoring in Business study? 

• Introduction to Business
• Financial Accounting
• Data Analytics
• Investments

What can I do with a Business degree?

As a business major, you’ll take classes in various disciplines, which will ensure you to have marketable skills in management, financial data analysis, communication, and problem-solving. Here are some professions your degree can prepare you for:

• Agents and Business Managers of Artists, Performers, and Athletes
• Business Continuity Planners
• Business Intelligence Analysts
• Biofuel Technology and Product Development Managers
• Document Management Specialists

Specializations for a Business Major:

• Accounting 
• Real Estate
• Actuarial Science
• International Business
• Supply Chain Management
• Operations and Technology Management
• Human Resources

What are the requirements for a Business degree? 

Check with your academic advisor to ensure that you're taking competitive courses and staying on track toward graduation. Choose courses carefully. Keep a record of your credits each semester. Internships, study abroad programs, and student organizations aren’t graduation requirements. However, they enrich your undergraduate experience and help you decide where you can see yourself as a business professional. A semester abroad may spark an interest in international business, or an internship can strengthen a desire to work in a particular industry. Related Resources   

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Explore the Types of Business Degrees and See What's Right for You

Understanding the Numbers When reviewing job growth and salary information, it’s important to remember that actual numbers can vary due to many different factors — like years of experience in the role, industry of employment, geographic location, worker skill and economic conditions. Cited projections do not guarantee actual salary or job growth.

Every year, college students across the U.S. choose majors and pursue degrees that best align with their career goals. Among the most popular majors over the past decade is business.

According to the National Center for Education Statistics ( NCES ), between the years 2010-2011 and 2020-2021, U.S. colleges and universities conferred approximately 391,400 bachelor’s degrees in business. That comprises nearly one in five of all bachelor's degrees awarded in that timeframe.

As popular as bachelor’s degrees in business  are, there are actually a number of different types of business degrees you can pursue. They vary by academic level and by areas of concentration within the overarching field of business.

What are the Different Types of Business Degrees?

Undergraduate Business Degrees

• Associate of Science (AS)
• Bachelor of Science (BS)

Graduate/Postgraduate Degrees

• Master of Science (MS)
• Master of Business Administration (MBA)
• Doctor of Philosophy (PhD)

Other academic credentials you may consider pursuing are business certificates and certifications, offered at undergraduate and graduate levels. These can be credit-bearing academic credentials, and often serve as a way to augment your degree in specialized areas of business and expand professional opportunities.

Examples of business certificate areas include:

• Fraud Examiner Graduate Certificate
• Human Resources Management Certificate
• Nonprofit Management Graduate Certificate
• Management Accounting Graduate Certificate
• Supply Management Graduate Certificate

At the undergraduate level, associate degrees typically involve two years , while bachelor’s degrees normally take three to four years , assuming all prerequisites for entry into the program have been fulfilled.

“At the graduate level, the most common degree programs are Master of Science and Master of Business Administration programs ,” Wallace said. “Additionally, there are doctoral programs in business ... which are research-oriented and geared towards those pursuing academic or high-level research positions.”

Wallace said master’s degrees usually take one or two years  of full-time study, while the duration of doctoral-level business degrees can vary widely.

With many types of business degrees available at all educational levels, it's important to let your interests and career goals drive you toward the one that's for you. "Sometimes it's not about discovering the perfect degree but rather unveiling the passion that fuels their potential," said Dr. Jessica Rogers , an associate dean of business at SNHU. "A degree is not just a path; (it's) where curiosity meets purpose, and our role as educators is to light the way."

Rogers, who has professional experience in operations management, sales management and marketing, empathizes with her students. As someone who lacked confidence as an undergraduate and had a lot of competing priorities as a graduate student, Rogers said she strives to be the kind of educator she needed.

Which Field is Best for Business?

In addition to different levels of business degrees, there is also a range of distinct areas of concentration within the study of business that you can pursue.

Simmerman, who has an MBA, is a CERTIFIED FINANCIAL PLANNER™ — a professional path supported by SNHU's BS in Finance with a concentration in Financial Planning . Simmerman has over 35 years of experience in the financial services, consulting and pharmaceutical industries, and said students often have a wide range of options from which to choose. Some include:

• Finance and accounting
• Information technology
• International business
• Management and human resource management
• Marketing and entrepreneurship
• Operations and supply chain management

According to Wallace, the specific concentration or specialization a student chooses can impact the level of difficulty and depth of study required. Further, she said the demand for professionals in different areas of business  is constantly evolving, driven by factors such as:

• Industry trends
• Economic conditions
• Employer demands
• Global developments
• Geographic needs

“Some areas have consistently shown strong demand due to evolving business landscapes and emerging trends,” Wallace said.

The types of roles that make up the business world are expansive. What's most important to consider as you explore your options is yourself.

"In the landscape of business opportunities, the key to success lies not in finding the 'best' field, but rather in identifying the field that resonates most profoundly with your values, skills and aspirations," Rogers said.

You may also discover roles that span multiple fields, or that your career flows from one area to another — similar to the experience Rogers has had. "Business excellence is not confined to a singular path," she said. "It's a blend of passion, expertise and dedication."

Find Your Program

Which job has the highest salary in business.

Several factors determine salary and level of success achieved by business graduates, Wallace said. Some of these include:

• Degree level
• Geographic location
• Position or job title
• Years of experience

“Additionally, salaries can vary over time based on economic conditions and market trends,” Wallace said. “Some of the business degrees with the highest level of earning potential include the same degrees that happen to be in high demand.”* These include:

• Master of Business Administration*
• Marketing and entrepreneurship*
• International business*
• Supply chain management*
• Tech management*

In fact, BLS statistics indicate a difference of $229 in median weekly earnings between individuals with a master's degree and those with a bachelor's degree.*

Beyond salary, it's important that the type of role you pursue feels meaningful to you. "The worth of a business degree is not solely measured in terms of earning potential, but in the enrichment of one's analytical acumen and the ability to shape and lead impactful ventures," Rogers said.

Which Business Degree is Best for Me?

Every student’s academic path and career aspirations are unique, and when it comes to determining which area of business is best for you, there are a number of things to consider, Simmerman said. Some of these include:

• Are you currently working in business and looking to advance in your field or move into a different field ?
• Are you just beginning your academic journey?
• What are your career goals ?
• What degree is most likely to be of benefit for advancing in your field?
• What interests do you have?

These are key considerations if you're thinking about pursuing a business degree and trying to determine what level of degree, and what area of study would be best for you, Simmerman said.

Choosing the right business degree can have a significant impact on your career trajectory, Wallace said.

“This decision should consider what best complements the student’s goals," she said. "Some of the most successful individuals in any industry are able to align career goals with passion/interests.”

Other factors to consider when deciding on a business degree, Wallace said, include:

• Current skills
• Financial capacity and networking opportunities
• Geographic constraints
• Market demands and future trends
• Program reputation, flexibility and diversity

Are Business Degrees Worth It?

Earning a business degree can open a distinctive range of career opportunities  across a broad spectrum of industries, Wallace said. Additionally, she said the knowledge and skills gained in business degree  programs can be applied in many other professions.

“Many employers value and prefer employees who invest in their own professional development and who are well-versed in analytics, problem-solving and critical thinking skills,” she said.

A business degree is a path that can lead to high-paying careers in fields such as finance, accounting, marketing and human resources, Simmerman said.* Regardless of what career goals you may have  within the world of business, he added, it’s important to understand the most effective educational path required to get there.

“A bachelor’s degree may be required for many entry-level positions,” Simmerman said. “Even if not required, it may help set the student apart from other candidates. A master’s degree may be beneficial for advancing into more senior level positions.”

According to the BLS, employment in business and financial occupations between 2022 and 2032 is expected to grow faster than the average of all other occupations, with approximately 911,400 openings projected each year on average.*

The versatility of career opportunities is one of the most empowering aspects of earning a business degree, Wallace said.

“The diverse skill set gained through a business degree allows graduates to adapt to different industries and roles, exploring a wide range of career options in various industries,” she said. “A graduate in marketing can explore careers  in advertising, market research, brand management and digital marketing, for example.”

When coupled with years of experience and a track record of success working in the field, a business degree can take you to the highest levels of leadership.

“Additionally, many business professionals advance to leadership positions, such as CEOs, CFOs or business owners , as they gain experience and expertise in their chosen field,” she said.

The bottom line is: If you decide to earn a business degree, the result is more than a diploma at the end. "(A business degree) is an investment in the art of decision-making, strategic thinking and the versatility to navigate the ever-evolving landscapes of commerce," Rogers said.

A degree can change your life. Find the SNHU business program  that can best help you meet your goals.

*Cited job growth projections may not reflect local and/or short-term economic or job conditions and do not guarantee actual job growth. Actual salaries and/or earning potential may be the result of a combination of factors including, but not limited to: years of experience, industry of employment, geographic location, and worker skill.

Cary Jordan is an Iowa-based writer with more than 20 years of writing and editing experience on a wide range of issues related to higher education. Cary has held administrative and cabinet-level positions at multiple colleges and universities, and his writing has spanned topics related to undergraduate education as well as graduate education in the areas of business, law, medicine and engineering, among others.

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Learning about business

Five types of business education courses one can choose from.

Updated - September 15, 2021 07:40 pm IST

Published - September 15, 2021 10:52 am IST

Business education is an ever-evolving branch.

For those who find the field of business interesting and want to pursue it after school, there may be some confusion about the type of business education they should look at. The branch of business education is ever-evolving; it teaches the skills and processes of the business industry. It is a vast field where you can hone your problem-solving skills, marketing techniques, management skills, and decision-making abilities.

Given the number of majors available, it might be slightly intimidating to pick one. There are various factors involved in choosing the right course: interests, skillsets, career scope, available opportunities, and so on. Here are five options within the spectrum of business education:

Business administration and business management

This course helps lay a foundation regarding important concepts in business. For example, it provides in-depth knowledge about accounting, sales, business ethics, organisational structures, leadership, management principles, etc. While business administration is preferred if you want to start an entry-level business career, business management is better if you aim to be in the management or operations divisions of a company.

Human Resources

A branch that exists in every company or organisation, it not only helps employees but also brings in the best people needed for the company’s growth. This field is all about people and hence communication and social skills should be quite good. The course will involve subjects like corporate communication practices, organisational development, management studies, among others.

E-commerce business management

With the advent of technology, managing business online has become essential. A good web page and social media presence will attract a lot of people, resulting in increased reach. This can, in turn, help sell goods or services faster and requires the skills to manage businesses on online platforms. The course revolves around the topics of marketing budgets, interaction with customers, and so on.

This field revolves around the system of manufacture, buying, and selling of goods or services. A student opting for an Economics major will have to study economic principles, business statistics, micro and macroeconomics, etc. It involves the use of Maths and Data Analysis. Economics is basically a social science that studies individuals, businesses, or countries to make choices on how to distribute resources. It helps analyse trends in the economy to improve businesses. Graduating with a major in economics can land you various jobs as an economist, a budget specialist, and more.

Finance is a field where money is everything. Here, the movement of money is carefully observed and recorded. As it is a job that handles money, the branch of finance involves investing, saving, borrowing... This course has the ability to land you in managerial positions at companies, or as a financial analyst/advisor.

The writer is Director, Symbiosis Centre for Management Studies, Pune

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8 Types Of Business Education Courses That You Can Choose For Your Career

1. business administration, 2. master of business administration, 3. health services administration, 4. human resources, 5. project management, 6. international business, why is learning business important in 2023, developing important communication skills, knowing your audience, accounting and budgeting, unlocks the entrepreneur that lies within you, 8 types of business education courses you can choose for career.

By Mashum Mollah

August 16, 2021

toc impalement

Choosing a career is extremely difficult, especially when you have no special subject in your mind. It is genuinely wrecking and tiresome to decide on something.

However, if you share a liking for business and are interested in it, then this article has got you sorted. Furthermore, if you are currently confused about pursuing graduation, you can opt for business education courses.

A business degree is of immense help in most industries. There will be absolutely no shortage of career options if you opt for business education courses. You will also have the opportunity to choose from different business education options once you make a decision.

It is vital that you find out the subjects that interest you prior to selecting any course. You also have to consider certain other factors, such as your skills and strengths, before you make the decision.

Here are 8 types of business education courses that you can choose for your career.

Here is the information about the 8 business education courses that will give a new edge to your career. Check each one out to learn more. 

This is one of the most well-known business education courses that students can pursue. This particular course is readily available in different business schools. All you need to do is search for this course on the internet.

You are bound to get a number of business schools to choose from. You can opt for the one that is favorable for you. You will get a comprehensive idea of the core values of business through the help of this particular course.

With a degree in business administration, you will be able to know about the different business management principles. It will help you in the development of a strong foundation of your subject that is business education.

The course will also help in acquiring knowledge about the implementation of the principles in different work environments. You will also learn about business operations or the process of analyzing their strengths and weaknesses.

Just the way TopAssignmentExperts help students, the business administration course will also help you gain a strong insight into the subject.

You will get to learn a lot of things under this particular course. The course will give you detailed knowledge about financial management, operations management, business statistics, accounting, and so on.

The course will also help you develop knowledge in business policy and strategy, business ethics and law, and so on. There are several titles that one can get after they complete the course on Business Administration.

They are inclusive of General Manager, Deputy Director, Employee Relations Manager and so on.

When you have opted for a degree in business administration, you might want to study a little more for more excellent opportunities. Once you have completed your course in business administration, you can choose for this post-graduation degree. You should know that this is one of the most honorable degrees in the field of business education.

Students who opt for this particular course also obtain a lot of job opportunities. It will also help you in the process of gathering detailed knowledge and insight into the subject. Students with a degree of MBA get different titles such as Business Analyst, Research Analyst, Project Manager, and so on.

The posts and titles are not only of great value but also immensely respectful. If you picture yourself in these titles, you ought to opt for a Master of Business Administration course. It will give you advanced knowledge regarding different aspects and principles of business.

Your learning will come to fruition when you have a plethora of job opportunities in your hand.

The course will provide you with ample opportunities to learn about business administration in an extremely detailed manner. You will get to know a lot about business organization, business law, managerial economics, management, marketing, entrepreneurship, communication, business ethics, and finance.

Deep knowledge of business administration will help you get a firmer grip on the subject. It will also help you in effectively managing the different aspects of the business.

People tend to have different knacks in different subjects. If you are someone who believes that you have a knack in the healthcare sector, then you may not opt for the traditional courses.

You can go for something different, which is related to the healthcare sector and industry. It will help you flourish to a great extent, which will be helpful for your career growth . It will also inspire you to stay updated with every aspect of the healthcare sector.

Your choice will increase your interest in the subject, which will be helpful for your growth. You can opt for a degree in health services administration. This degree will help you manage and oversee the different aspects of the healthcare industry, such as hospitals, nursing homes, doctor’s offices, etc.

Students who major in this particular subject get many titles. Some of the titles in health services administration are Public Health Nurse, Behavioral Health Professional, Service Administrator, and so on.

In this particular course, you will learn all the crucial aspects of the healthcare sector. The course’s curriculum is inclusive of accounting, health care administration, health care policy, health care law, and so on.

The course will also help you gain a sound and comprehensive understanding of certain other aspects as well. For instance, you will know about health care finance, the economics of health care, statistics, and so on.

The knowledge that you will gather from this course will help you effectively manage every aspect of your work. Moreover, the knowledge that you will gain from studying Health Services Administration will make you a more efficient employee in different organizations.

People tend to have different likings. While some might like finance, others might enjoy marketing. It depends from individual to individual. There are people who enjoy the different aspects of managing people in organizations.

If you are someone who has a knack for this, then Human Resource Management ought to be your subject. Human resource is another aspect of business education. It is different from the traditional courses, and you might find it to be fascinating.

It deals with recruiting and retaining talented individuals, interviewing them, and so on. You will also get the opportunity to train and motivate the employees.

If you like to meet new people every now and then and are in some way inspirational, then go for this. It is a promise that you will start loving the subject right from the start. For example, Anne, an employee in TFTH shares her experience of studying human resources, which was very interesting. Thus, you will be able to be a motivational figure who will have a massive impact on other people’s lives.

The different titles that human resources students get are Human Resources Manager, Human Resources Associate, Human Resources Specialist, etc.

You will learn about different aspects regarding the management of human resources. The course’s different topics include compensation and benefits, employee and labor relations, organizational behavior, etc.

You will also know about legal issues in employment, performance management, staffing, training and development, and so on. The substantial theoretical knowledge will help you stay prepared for your future work endeavors. In addition, it will make you immensely successful as a leader of an organization.

From the knowledge coupled with your experience, you will be able to manage human resources effectively.

You might like business management; however, you have an aversion towards the traditional courses. It is nothing very uncommon if you come to think of it. Not everyone likes the same conventional business subjects education; choices differ.

A project management degree is a crucial business education course that you can opt for as your potential career option. This is especially apt for someone who does not want to opt for business administration, human resources, or similar other courses.

If you have a knack for leading and managing divergent teams in organizations, you can move ahead with this course. Good  project management training  will help develop an understanding of the process of completing projects successfully and well within deadlines and budgets.

You will gain a comprehensive view of the different fundamentals and principles of the subject of project management. If you are interested in such a subject, then you should definitely go for it.

In the course, you will learn a number of aspects of project management. This is inclusive of the way in which Gantt charts are developed and used, CPM and PERT techniques, and so on. The course will also help you in acquiring a good amount of knowledge in creating project plans.

This will include a certain number of steps such as cost, scheduling, and risk assessment. But, again, having theoretical knowledge will help you apply it in the real-world job scenario.

It will make you more effective as a manager of project management. The knowledge that you will gain through this course will also ease the workplace environment’s operation process.

This subject which is an integral part of business education will allow you to develop knowledge in the international aspect of the business. This is a course which is quite different from the usual and traditional business courses.

You will get to know global banking, growing financial markets, international business management, and so on. The different titles that students get are Supply Chain Analyst, Operations Associate, Business Development Manager, etc.

If you are interested in the international aspects of business, you can opt for this particular course. The course will be beneficial because of the range of knowledge it provides you. You will learn a plethora of topics in this specific course.

The course curriculum of international business includes derivatives, business ethics, financial markets, global logistics, foreign markets, etc.

You will also gain deep insight into other topics such as international finance, international marketing, intercultural communication, and international operations.

This is, again, one of the most traditional courses when it comes to business education. You can opt for this particular course if you have a strong love for numbers and digits. You will learn the basics and fundamental aspects of finance for this specific course. Furthermore, you will be able to gather some knowledge in accounting, economics, project management, and so on.

You will also know things about investing in businesses and long-term plans. Roger, a regular client of EduWorldUSA , talks about his interest in finance and how the course has helped him. A course in finance will make you incredibly confident and efficient in the workplace.

Through the help of the course, you will get to learn a lot of things associated with the subject of finance. You will learn accounting and statistics for the purpose of financial analysis at the very outset.

Additionally, you will gain knowledge in financial markets and institutions, investments, financial management, international finance, among other topics. Your theoretical knowledge will prove to be highly beneficial in your work processes.

As the word suggests, the course is all about how to sell a product or service. However, it is not that simplistic, as the subject includes various nuances associated with it. This particular business course will help you understand the process of making relations with customers and businesses.

The different job titles are Regional Sales Manager, Account Executive, Account Manager, and so on. If you have a knack for sales, then you better opt for it now. Through the different topics in the course, you will gain a good understanding of the subject.

You will learn about business economics, sales skills, entrepreneurship, and so on. This particular course on sales will also make you immensely knowledgeable and insightful regarding the different sales processes.

It will help you in the process of working effectively and efficiently. In addition to that, you will prove to be an important asset to your organization through your work.

The world of business is evolving constantly, and globalization is known to be the new normal. The age-old ideas of building a career are changing, and entrepreneurship is gaining momentum; therefore, it is important for students to learn more about administering a business in case they want to pursue the road of entrepreneurship in the future.

Here are some of the reasons why one should invest in learning business administration:

There is nothing more convincing than writing a perfect report, presenting an engaging pitch, or even drafting the perfect email. All of these are acquired through terrific communication skills. When you study business, you will be required to have multiple students from different parts of the world on the same projects. These projects will be challenging enough to test your knowledge and cognitive skills, which may, at times, even clash with the opinions of others. To solve these issues, you will have to analyze the cases, respond diplomatically to the conflicting opinions, and master the art of making a clear point.

It is impossible for businesses to survive without knowing their audiences. Business owners, or anyone in the field, must be aware of who their business is catering to.

While studying business, teachers are responsible for sharing ideas with students. Making an idea stand out is never an easy job, but learning and getting for it can help you understand the audience demographics and how you can appeal to them in the most creative way possible.

There are multiple cases where businesses have failed due to poor financial management. If you do not learn how to manage your businesses effectively, there is the least of the possibilities that your business will succeed in the long term. When you learn business, you get to learn about the different accounting and budgeting methodologies.

Learning business can help give birth to an entrepreneur that you never knew existed. Most of the students attend business school so that they can make their dream business a reality. Studying business opens up all the intricate details related to the course and helps you figure out what is best for you and what is not.

Business schools are popular for making students opinionated and innovative and strengthening their execution strategies. Getting the correct business education will help you test your entrepreneurship skills and test launch your business ideas as well. This is the benefit that stays with you for the rest of your life.

To summarize, making career decisions is not a cup of tea. You must be very careful about your skills and abilities while selecting a particular course. Choosing an irrelevant course might lead you in the wrong direction. So be wise and ask yourself about your interest, passion, and career goals. 

However, the 8 business education courses mentioned above have potential prospects. You definitely can shine in these fields if you execute your career plan flawlessly with hard work and diligence. 

• Top 7 Small Business Management Tips For Entrepreneurs
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The Different Types of Bachelor of Business Administration Degrees

Earning a bachelor’s in business administration (BBA) degree supplies students with foundational and practical knowledge that applies to seemingly endless career options. As a result, it’s no surprise that business degrees rank as one of the  most popular academic paths  for undergraduates. This popularity makes sense considering that the  median salary  for business and financial occupations exceeds $70,000 annually.

For the business-minded student, a BBA degree is more than just a static curriculum of foundational courses—most programs provide learners with the opportunity to select a focused specialization mirroring their career goals. 

In the following guide, we highlight those specializations and explore what these academic concentrations have to offer. Continue reading as we explore popular business degree concentrations and see what they can do for you.

What to Know About BBA Degrees

Students enrolling in a BBA program often boast strong analytical skills and are usually comfortable completing math-heavy coursework. Students complete 120 credits before graduation through a curriculum encompassing general education, business, and elective classes, whether online or on-campus. While requirements vary between specific programs, BBA students typically complete between 40-60 credits of business-related courses.

While online BBA degrees utilize the same curriculum as on-campus programs, distance learners can take advantage of flexible digital delivery, completing academic requirements at their own pace. Online options are often a convenient fit for working students needing to balance personal, professional, and academic obligations.

Continue reading to review some of the most popular business degree specializations.

Types of BBA Degrees

Which bba specializations has the highest salary.

Salaries for BBA graduates can vary significantly. Factors like experience, where you work, and the specific company all influence how much you earn. Even though there’s no hard-and-fast path toward topping out your earning potential, particular careers in the business world tend to pay more than others.

As a general rule, management roles tend to pay the most. According to the Bureau of Labor Statistics,  marketing managers ,  financial managers ,  sales managers , and  human resources managers  top the list. While most of these professional roles require several years of experience, the typical education required is a bachelor’s degree.

For recent graduates not armed with the requisite experience, common entry-level roles include  market research analyst ,  financial analyst , and  human resources specialist . Financial analysts earn the most of these three, but all three boast a median salary exceeding $60,000 per year.

Should I Earn My BBA Online?

Online degrees have become increasingly popular academic options, especially for working students. These flexible and affordable options often utilize an online platform that allows students to complete class requirements at their own pace. Many of the best online programs utilize online discussions, group projects, and live lectures to mimic the on-campus experience.

And while an online program may seem like a practical choice, some students tend to thrive within the traditional on-campus experience. For the student who performs best when held accountable by classmates and instructors, a self-guided, online degree might not be a good fit. When in doubt, reach out to admission counselors and inquire if online learning is right for you. 

Whether students choose to enroll online or on-campus, they can expect to complete the same classes, meet the same requirements, and ultimately earn the same degree. 

Types of BBAs FAQ

• From accounting and finance to project management and healthcare administration, students have access to BBA specializations that meet their academic and professional interests. Students often have the chance to investigate various business topics before selecting a concentration.
• The best BBA concentration is the one that fits the particular academic need and professional goals of a student. The BBA student interested in leadership roles could enroll in management classes. At the same time, a degree-seeker planning on starting a business might consider an entrepreneurship specialization. 
• Earning a BBA degree is a practical way to enter various careers. BBA graduates leave college armed with readily applicable skills in topics like accounting, economics, and leadership. Whether they’re interested in non-profits, for-profits, or public service, business skills translate seamlessly to any sector of the economy.
• For a student inclined towards the arts and humanities, a BBA degree could be challenging. That said, for the driven student interested in the business world, any academic rigor is just part of the academic process. Additionally, the best schools provide ample resources to ensure that students perform their best, even when facing challenging material.
• The vast majority of schools structure their BBA programs to fit a four-year timeline. That said, students transferring with ample credits can often complete their degree in considerably less time. Additionally,  less than half of students  complete their degree in four years or fewer.

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Home » Others » Introduction to Business » Business Education and Its Types

Business Education and Its Types

Do you want to know what is business education and what are its different types? You are on the right spot to know the answer of this question.

Business education is a name that includes a wide range of techniques which are used to teach students the basics of business processes and systems.

These processes start from recognized educational degree programs, which comprise of Master of Business Administration (MBA), to school-to-work opportunity methods or cooperative education.

Business education programs are mainly established to encourage in students the basic hypothesis of organization and construction.

The major objectives of business education programs are to teach the ways of the decision-making process; the viewpoint, theory, and psychology of management; practical functions; and business start-up and running processes.

Table of Contents

Types of Business Education Programs

According to India shoppers traditional academic business education programs comprise college courses that teach aspirants the basics of management, marketing, principles, accounting, and other pertinent subjects.

These all processes have been gained popularity recently with wide-ranging course offerings in computer knowledge, an e-commerce organization, and other fundamentals of the “new financial system.”

Students are honored with achieving degrees which starts from a correlate to a PhD (Doctor of Philosophy) in business administration.

Some programs might involve class-work only, though others include tech-prep and cooperative education programs, internships, and school-to-work opportunities which all merge academics with on-the-job training.

Tech-Prep Programs

A tech-prep program is designed for doing a four-year planned series of learning for a technical field and the students start in their academic year of high school. The program stretches through two years of college in professional education, and at least two-year apprenticeship. Students will achieve Associate degrees after doing the course.

Cooperative education (co-op) is a basic program which provides students with a blend of college courses and work-experience associated education.

Co-op programs are offered with a wide array of business principles, like information systems, accounting, and sales. Students can join in a postsecondary educational program although working in an associated job.

Lots of co-op members are waged by their companies. The co-op program offers students with the work experience they need to achieve a permanent job after done the graduation.

Internships

Internships are connected strongly to co-op programs. The key dissimilarity, although, for those who take part in internship programs are not waged, it comes with internships which are made mainly to offer members with work experience.

Over and over again, interns will finish-off the program independently from their academic setting, before merging the two.

School-to-Work Programs

School-to-work opportunity programs pay attention to career knowledge for students. They offer members with work and obtain certificates and provide them with associates to industrial colleges.

In these courses, whole members have jobs, apprenticeships, or even do schooling after complete high school.

Career Academies

Career academies are mainly determined high schools that include “schools within schools.” First and foremost, they educate high school juniors and seniors in different zones which are environmental technology, which is used electrical science, horticulture, and engineering.

Furthermore to these schools, there are also in private running business schools that are available with grant certificates to students who finish-off their programs.

These types of business education programs offer members with better career paths for great-knowledge technical and professional jobs by properly connecting secondary and postsecondary education, and by incorporating academic and professional learning.

Students who finish-off such programs obtain benefits over people who focus only on the academic element of business education. Whatever direction students use to get hold of basic knowledge of business skills and values, there are plenty of opportunities to train them for further business careers.

Entrepreneurs and MBA

Beforehand, most of the business persons saw the Master of Business Administration (MBA) degree as needless to small business achievement, and some individuals supposed that it muffled the creativity that enables small businesses to widen and cultivate.

But recently, growing numbers of entrepreneurs have opted to do an MBA degree. Jay Finegan , writing in Inc., recommended two different reasons for this transform.

First, nowadays business world time and again needs small organizations to do for similar customers as much bigger, efficiently handled businesses.

Second, businesses persons are looking for their smaller entrants are expected to be operated by MBAs, as more cut back management decide to commence their organizations.

When they go through the truth that their competitors’ business training that provides them with a benefit, most of the business owners begin to do an MBA to yet the playing field.

The MBA degree offers business persons a right platform doing the perfect management tools that can be approached to stand on the challenges of operating a small business that comprises of economic scrutiny, marketing skills, premeditated planning, and negotiating skills.

Moreover, business education can assist to all small business owners to widen their points of view and identify the trends within their business or industry. You can apply for Marketing Officer Jobs to know about this field.

Another important reason for the augmentation in business owners doing MBA degrees is that such programs have become more hands-on recently.

Furthermore to teaching theory, MBA programs are more and more focusing on teamwork, practical experience, and cross-disciplinary philosophy.

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6 Types Of Savings Accounts

Updated: Apr 25, 2024, 11:10am

Savings accounts can be safe places to keep the money you don’t intend to spend right away.

These accounts are useful when planning for short-term needs, such as an emergency fund , and longer-term goals like stashing away cash for a down payment on a home.

There are different types of savings accounts to choose from, and they’re not all alike. The options include traditional savings accounts, high-yield savings accounts , money market accounts, certificates of deposit, cash management accounts and specialty savings accounts.

What are the best types of savings accounts, and which types should you have? It depends on your needs and goals.

Knowing how the various savings account options compare can make it easier to select the right place to keep your money.

Annual percentage yields (APYs) and account details are accurate as of April 9, 2024.

Types of Savings Accounts

Distinguishing between different savings accounts means looking at their features, where you can open them and what they’re designed to do.

As you compare different savings accounts, it can help to ask these kinds of questions:

• Is this account designed for any specific purpose or goal?
• How much interest does this account earn?
• Are there minimum deposit requirements or minimum balance requirements to meet?
• Does the bank charge any fees for this type of savings account?
• Are there any tax benefits or advantages associated with this savings account?
• How accessible is the money in the account?
• Will I pay any penalties for withdrawing money from the account?

Doing this kind of research can help you decide which types of savings accounts to have. From there, you can choose where to open them and how to fund them.

1. Traditional or Regular Savings Account

Good for : People who need to save money for the short or long term and aren’t as concerned about getting the best interest rate, expressed as the annual percentage yield (APY).

Traditional savings accounts are what you may immediately think of when you consider where to save. These are the savings accounts you typically find at traditional banks or credit unions .

These types of savings accounts generally allow you to earn interest on your money, although they usually pay lower rates than other savings products. Many banks and credit unions allow you to open a regular savings account with a low minimum deposit.

Traditional savings accounts typically allow you to make up to six monthly withdrawals (not including ATM withdrawals or in-person withdrawals at a branch) before incurring a penalty. The relaxation of Regulation D restrictions in 2020 removed the six-withdrawal limit, although your bank or credit union still has the right to charge you a fee for exceeding the monthly limit.

Banks and credit unions may allow you to manage your account online, via mobile banking, by phone or at a branch.

If your bank is insured by the Federal Deposit Insurance Corporation (FDIC), then your deposits are insured for up to $250,000 per depositor, per account ownership category, in the event of a bank failure. The National Credit Union Administration (NCUA) provides similar insurance for federally chartered and most state-chartered credit unions.

• It’s usually easy to open a regular savings account at a branch, and some banks allow you to do so online.
• You can earn interest on your savings to grow your money.
• You can visit a branch if you need help or want to deposit cash.
• The interest rates are usually low compared to other savings options.
• Monthly maintenance fees may cancel out interest earnings.
• Additional fees may apply for excess withdrawals.

2. High-Yield Savings Account

Good for : People who want to earn a more competitive rate on savings while minimizing fees.

High-yield savings accounts—typically found at online banks, neobanks and online credit unions—are savings accounts that offer a higher APY compared to regular savings accounts. This is one of the best types of savings accounts to maximize your money’s growth.

Online banks often offer different types of high yield savings accounts to attract savers who want to earn a better interest rate than what is found at brick-and-mortar banks and credit unions. This type of savings account may be appealing if you’re comfortable managing your account via website or mobile banking versus visiting a branch.

High-yield savings accounts are FDIC or NCUA insured, just like traditional savings accounts. In addition to offering better rates, online banks tend to charge fewer or lower fees, including monthly maintenance or excess withdrawal fees.

• You could earn a much higher interest rate compared to traditional savings accounts.
• Online banks typically have lower minimum deposit requirements to open an account.
• You’re less likely to be charged a monthly fee at an online bank.
• No branch banking access means you can’t deposit cash directly into your account at a branch.
• Transferring money between an online savings account and accounts at another bank can take up to a few days to process.
• You may or may not have access to your money via ATM, depending on the bank.

American Express® High Yield Savings Account

Annual Percentage Yield

$1 Minimum to earn APY rates as of 4/25/2024

Minimum Deposit Requirement

Monthly Maintenance Fee

3. Money Market Accounts

Good for : People who want to earn interest on savings while having more options for accessing their money.

Money market accounts (MMAs) combine features of a regular savings account with features of a checking account. You can find these accounts at brick-and-mortar banks, online banks and credit unions.

These accounts, which may also be called money market savings accounts or MMSAs, allow you to earn interest on your savings. Rates are typically better than regular savings accounts and some offer rates similar to high-yield savings accounts. You may also be able to write checks from your account or access funds with an ATM or debit card.

Similar to regular or high-yield savings accounts, banks can impose a fee if you make more than six withdrawals per month, even though the relaxation of the federal Regulation D restrictions now allows for readier access to your funds. Going over the monthly limit could trigger a fee or result in the institution closing your account if it happens frequently.

• Money market accounts can offer better rates than other types of bank savings accounts.
• You may be able to write checks from your account or access your money using a debit or ATM card.
• You can open money market accounts at traditional banks or online banks.
• A higher minimum deposit may be required to open a money market account.
• Interest rates may be tiered, meaning you’ll need a higher balance to earn the best rates.
• Banks may charge a monthly fee for money market accounts.

4. CD Account

Good for : People who want to earn competitive rates and won’t need to access their savings right away.

Certificates of deposit (CDs) are time deposits, meaning you agree to leave your money in the account for a set period. During that time, your money earns interest and, when the CD matures, you typically can withdraw your savings or roll it into a new CD. That sets these accounts apart from other types of savings accounts since there’s a time factor at work.

You can find CDs at traditional banks and online banks. Between the two, online banks tend to offer better interest rates. CD terms typically range from as short as 30 days or as long as 60 months, with longer terms usually boasting higher rates—although not always, especially in a lower interest rate environment.

CDs are best for the money you know you won’t immediately need since banks can charge an early withdrawal penalty if you withdraw your savings before the maturity date. Creating a CD ladder of multiple CDs with varying maturity dates can offer a work-around for this issue.

• CDs can offer above-average interest rates for savers pursuing short- or longer-term goals.
• There are typically no monthly maintenance fees involved with CD accounts.
• CDs at online banks may offer lower initial deposit requirements.
• Withdrawing money from a CD before its maturity date may trigger an early withdrawal penalty.
• CDs at traditional banks tend to offer lower interest rates than online banks.
• Putting your savings into a longer-term CD makes it harder to capitalize on future interest rate increases.

5. Cash Management Account

Good for : People who want to keep cash available to invest in their brokerage or retirement account.

Cash management accounts are different from other types of savings accounts because they’re not specifically designed for saving. Instead, these accounts let you hold cash you may plan to invest in a taxable brokerage account or a retirement account.

Online brokerages and robo-advisor platforms may offer cash management accounts to their investors. The money held in the account can earn interest, often at a higher rate than what you’d get at a bank.

Depending on the brokerage, you may get all the standard features you’d expect with a checking account as well. For example, you may be able to write checks, pay bills or transfer funds to accounts at your bank.

• They’re a convenient way to earn interest on money you plan to invest.
• Cash management accounts can offer benefits and features of both checking and savings accounts.
• Accounts may offer higher-than-normal FDIC coverage limits by partnering with multiple banks.
• High-yield savings accounts could offer better interest rates on the money you’re saving.
• Since they’re attached to online brokerage accounts, you may not have access to branch banking.
• These accounts aren’t always covered by FDIC insurance.

6. Specialty Savings Account

Good for : People who want accounts tailored to specific savings goals.

Specialty savings accounts are designed to help you reach specific savings goals, rather than being a catch-all for money you don’t plan to spend. And in some cases, they can be intended for a specific type of person, rather than a savings goal.

For example, there are different types of savings accounts for minors. Three types of savings accounts you might set up on behalf of a child or teen include:

• Kids’ savings accounts
• Custodial savings accounts
• Student savings accounts

You can also set up different types of education savings accounts, including 529 college savings accounts and Coverdell Savings Accounts. These two types of college savings accounts allow you to set aside money for higher education expenses on a tax-advantaged basis.

Then there are different types of retirement savings accounts you could set up for yourself, including Traditional and Roth Individual Retirement Accounts (IRAs) and IRA CDs. Meanwhile, you may also open an account designed to help you save for healthcare: a Flexible Spending Account (FSA) or Health Savings Account (HSA).

Finally, there are other types of savings accounts to have, depending on your needs. For instance, you may open a Christmas Club savings account or a home down payment savings account to hold money for those goals.

You should be able to find most of these accounts at banks, credit unions, brokerages or investment companies. In the case of a Health Savings Account, you’d only have access to one of those if you have a high deductible health plan.

Opening one or more specialty savings accounts may make sense if you have a singular purpose for saving money. Just keep in mind that there may be restrictions on when and how you can withdraw those funds later.

• They can help you save money for a variety of specific financial goals.
• Specialty accounts can earn interest to help you grow your money, just like other savings accounts.
• You may pay low or no monthly maintenance fees depending on the account.
• Some specialty accounts, such as IRAs, 529s and HSAs, have strict tax rules for making withdrawals.
• The interest rates you earn for child savings accounts, student accounts or Christmas Club accounts may be lower than high-yield or even regular savings accounts.
• Specialty accounts may have restrictions on who can open them.

Why Would You Put Money in a Savings Account?

Here are reasons why it can make sense to put money in a savings account:

• You can earn interest . Putting money into a savings account allows you to earn interest on your balance. Some checking accounts pay interest, but many do not. Money left to sit in a non-interest-bearing checking account doesn’t have a chance to grow.
• It can help you save and not spend . Having a savings account may help you avoid spending money that’s earmarked for a specific goal. Keeping all of your money in a checking account, for example, could make it easier to spend money you intend to save.
• It can help with financial emergencies . Even if you don’t have a set savings goal, having a savings account can still make sense. Having money in a savings account can make it easier to pay bills and everyday expenses in case of an emergency—if you lose your job or your car breaks down, for example. This way, you don’t have to turn to a credit card or a high-interest loan. And if you don’t have to use your savings for an emergency, you can keep growing your money without having to worry about racking up debt.
• It can keep your cash safe . Keeping your money in a savings account also offers a measure of protection. If you were to keep cash at home, for instance, it could be stolen. Walking around with a wallet full of cash could also put you at risk of theft or loss. But it’s protected up to the total coverage limit when your money is in a savings account at a bank insured by the FDIC or credit union insured by the NCUA. As of 2023, that limit is $250,000 per depositor, per account ownership type, per financial institution.

Find The Best High-Yield Savings Accounts Of 2024

Bottom line.

When choosing a savings account, it’s important to remember that you don’t have to pick just one. Depending on what you want to achieve financially, you may decide to open multiple savings accounts , CD accounts, money market accounts or specialty accounts. To find the best account for your needs, consider your financial goals.

Frequently Asked Questions (FAQs)

Which savings account is best.

The best savings accounts pay high interest rates, charge few fees and provide the accessibility you need. A savings account with an excellent APY at an online bank or credit union may be the best option for you if you don’t mind forgoing branch banking. Or you may prefer a savings account at your local bank if you prefer in-person banking.

What types of savings accounts should I have?

The type of savings account should reflect your financial needs and goals. You may have one high-yield savings account to hold your emergency fund and a money market account to hold money for short-term goals, such as buying a car.

Is a savings account an asset?

An asset is something that has a positive value, and a savings account falls under this umbrella, assuming it has a positive balance. Savings accounts are generally considered to be liquid assets since it’s relatively easy to convert them to cash. For instance, if you needed money to cover an emergency expense or pay a bill you could withdraw cash from savings or transfer funds from your savings account to a checking account online with just a few clicks of a button.

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Rebecca Lake is a certified educator in personal finance (CEPF) and a banking expert. She's been writing about personal finance since 2014, and her work has appeared in numerous publications online. Beyond banking, her expertise covers credit and debt, student loans, investing, home buying, insurance and small business.

Managing Editor, Global Data and Automation for Forbes Advisor. Mitch has more than a decade of experience as personal finance editor, writer and content strategist. Before joining Forbes Advisor, Mitch worked for several sites, including Bankrate, Investopedia, Interest, PrimeRates and FlexJobs.