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Why Earn a Business Degree?

A business administration degree is the single most popular college degree program in the United States.  The growth outlook rated higher than all other degree programs by a large margin.  The draw for many students to earn a business degree is the program’s sheer versatility, applicability, and efficacy.  Likewise, employers seek students with a business degree for many of the same reasons.  A student earning a college degree in business administration can be equipped to jump into a variety of career opportunities in a wide variety of sectors.  From construction and manufacturing to IT consulting and software, business administration degree holders have myriad career options to select.

For clarity, the study within the academic domain of Business Administration is a broad field.  It brings together many ideas, practices, and methodologies then apply them to the management and development of financial business at a managerial level.  Individuals in this field are responsible for decisions and planning to help guide a given business with the intent to increase revenue and profit while reducing cost.

Business administration also deals with the management and motivation of employees while driving KPI's to meet organizational and divisional goals.  A minimum of a bachelor's of business management degree is typically required but due to exceptional competition for managerial positions, it is common for applicants to be required to hold an MBA degree or similar graduate-level degree in business.

Career Summary

MEDIAN SALARY

$75,070

PERCENT ABOVE NATIONAL
INCOME AVERAGE

50.62%

TOTAL SECTOR EMPLOYMENT

7,281,190

Degree Median Salary vs Adjacent Degree Types

Source: BLS, US Census, and IPEDS

2024 Best Business Administration Degree

Harvard University is the United States’ oldest higher learning institution having been established in 1636. It is the alma mater of 32 heads of state and has won 48 Pulitzer Prize winners and 49 Nobel Prize winners.  The top ranked MBA degree at Harvard University is a full-time residential two-year program with emphasis on general management curriculum based on real-world practice. Through the FIELD project, case method courses, technical simulations and self-reflection exercises, it has a dynamic learning environment. Learning not only comes from its world-class lecturers, but also from classmates.

Acceptance Rate

4.64

Student to Faculty Ratio

7:1

Yale University is one of the most prestigious universities in the world. It is a member of the Ivy League school and was established in 1701.  Yale’s school of business administration is built on a mission that its instruction goes beyond business. Its integrated curriculum is designed to expand the student’s perspective. At Yale University, students will never stop studying because there is still a lot of business management knowledge to learn.

Acceptance Rate

6.08

Student to Faculty Ratio

6:1

The Columbia University in the City of New York is among the world’s most significant centers for research and for an exceptional learning environment both for undergraduate and graduate students. It promises to improve the knowledge of all procedures at the best level.   Its MBA curriculum is based on a theoretical practice system, and all classroom learning will be applied in the real world. Students will gain first-hand knowledge of transformative research and behind-the-scenes perspectives from a wealth of industry experience. With courses, graduates will be able to solve real-world problems.

Acceptance Rate

5.45

Student to Faculty Ratio

6:1

Brown University is an advanced research university with approximately 7,160 undergraduate students. It is known for its reputation and output as part of the highly acclaimed and distinctive Ivy League.  People can study for a two-year master's degree in business administration at Brown, which requires solid and concrete work in this field to take many years. The program encompasses all essential aspects of the business world including finance, economics, banking, and other topics. Its courses are usually broad-based courses and other specialized courses.

Acceptance Rate

7.07

Student to Faculty Ratio

6:1

The University of Pennsylvania is known for its active advocacy of innovative education. It has a long history of entrepreneurship, creativity, and involvement of students, staff, and faculty.  The MBA program at UPenn focuses on business economics & public policy which prepares future leaders in business with the university’s tools in analyzing incentives & policies of government, firms as well as consumers. The main MBA program also provides students with cutting-edge technology provided by public and private sector research. The department focuses on understanding inferences for higher levels of globalization, technological innovation and the role of intellectual property in business areas.

Acceptance Rate

7.66

Student to Faculty Ratio

6:1

The University of Chicago has been a research-oriented educational institution since 1890. It is dedicated to free and open inquiry, attracting scholars to its global campus, where they generate ideas that influence and challenge the world.  There are four formats that the university offers in its MBA program: the full-time, evening, weekend and global executive. However, these four options are all provided by world-renowned teachers, complete facilities, influential networks and active communities. The only difference that can be drawn from these four is the personal data of the registrant of any one of them.

Acceptance Rate

6.17

Student to Faculty Ratio

5:1

Stanford University celebrated its 125th anniversary in 2016. It has cultivated future leaders in almost all professional fields.  SU is a leader in the field of business management and it inspires graduates to seek new opportunities, new passions and make new friends. Its curriculum provides an experienced and rigorous core curriculum along with world-renowned researchers and leaders. With its master’s studies in business administration, graduates can sharpen their management instincts, design and prototype solutions as well as gain knowledge about transforming organizations.

Acceptance Rate

4.34

Student to Faculty Ratio

5:1

A member of the Ivy League, Dartmouth College was established in 1769 and has since ranked as among the world’s extraordinary learning institutions. It combines commitment to excellent undergraduate liberal arts as well as graduate education with Arts & Science scholarships and research.   Its Tuck School of Business was founded in 1900 and was the first school in the world to provide a master’s degree in business administration. It is a full-time two-year residential program known for its small class and rural setting with each class having around 280 students. First year MBA students take 32 weeks of core curriculum about general management as well as the First Year Project. In their second year, the students undertake 12 elective courses for their field of specialization.

Acceptance Rate

7.93

Student to Faculty Ratio

7:1

Duke University is a Methodist private non-profit learning institution offering various academic programs to suit any student’s preference. Two of its faculty members won the Nobel Prize in Chemistry. 

Duke’s Fuqua School of Business offers four programs of MBA: accelerated daytime, daytime, global executive and weekend executive. Each of these courses is designed to meet the specific needs of graduate students based on their schedule, career, and other careers. Among these four projects, the acceleration plan has the shortest running time of 10 months.

Acceptance Rate

7.6

Student to Faculty Ratio

6:1

Cornell University is founded on revolutionary spirit and courage to think in a way that would have a great effect on the life of the people in a local or international community. It is a private research university and a member of the Ivy League.  Its Cornell University SC Johnson School of Business offers full-time, one-year, two-year executive MBA and Cornell University technical MBA. All advanced MBA programs are tailored to meet the preferences of professional professionals who seek professional development without interruption. Each option has a unique schedule and pace, but they are all determined by the same quality of education.

Acceptance Rate

10.85

Student to Faculty Ratio

9:1

Northwestern University is committed to providing students with excellent guidance, innovative research, and students' intellectual and personal growth. It is an extensive research university in a multidimensional community.   Its MBA program offers four options: full-time, evening and weekend, executive MBA and executive education. Each program features unique majors to suit any business executive aspirant’s goals. Depending on the choice taken, it may also last one to two years.

Acceptance Rate

9.05

Student to Faculty Ratio

6:1

Georgetown University is a Jesuit institution that provides higher education. It is the United States’ oldest Catholic school.  It offers a full-time and flexible MBA program. Both courses have customized courses to prepare students for a global setting, while also offering unparalleled access unique to college students. Whether you choose a full-time course or a flexible course, students will be taught with the same quality of teachers and courses.  

Acceptance Rate

14.36

Student to Faculty Ratio

11:1

As a learning institution, Notre Dame University is known for its Catholic characteristics. Since its establishment in 1842, it has always upheld its belief in knowledge and religious traditions.   Its Mendoza Business College has multiple undergraduate and graduate programs. Regardless of the business degree or course pursued, the institution knows the importance of how students influence the humanities. This is why it provides the proper and necessary experience and tools to realize their dreams and goals.

Acceptance Rate

15.83

Student to Faculty Ratio

10:1

Vanderbilt University was established to strengthen the links between all aspects of the United States. It is known for its transformative research and education.   Its business school proffers a complete range of management education degrees and programs. It invests in business for college students in the summer and provides a tailored experience for executives who are aspiring or currently in C-Suite positions. It has MBA degree programs, specialized master’s and certificates or online programs.

Acceptance Rate

9.12

Student to Faculty Ratio

7:1

Rice University is a leading research institution. In the process of hiring influential alumni, it has not only established a bond between students and teachers, but also established a bond between parents and alumni.  Its plans are combined with activities to enable students to achieve personal growth. Its Jones Business School Graduate School offers MBA programs, and offers full-time or part-time courses on campus or online. There are also administrative and professional MBA programs that may be paired with other advanced degrees obtained at Rice University. Regardless of the choice, you can ensure that students get a comprehensive experience from the same world-class teachers.

Acceptance Rate

8.72

Student to Faculty Ratio

N.A

At Washington University in St. Louis, students are trained to excel and realize the impossible, while creating an inclusive community from all aspects of diversity. The University of Washington is a world-class research institution, determined to use learning through its unparalleled teaching, scholarship and research resources.  Those who are interested to expand and grow their horizon in business may enroll in WashU's Olin Business School. The school offers a wide range of courses and programs, including comprehensive BSBA and MBA courses for graduate and graduate students. Students can choose from a variety of MBA courses, from the full-time, professional, and different executive MBA courses they see fit.

Acceptance Rate

13.85

Student to Faculty Ratio

7:1

Averett University is a private research school known for its Baptist affiliation and influence. Averett values the four important aspects they hope to cultivate and nurture in the academic system, namely the promotion of lifelong learning, practical skills, diversity and cultural awareness, and personal attention.

Avarett's business courses include courses in the BSBA, which focus on accounting, marketing management and management science. To broaden students’ knowledge, the program is designed to have a coursework and concentration which requires them to complete general education at the University. In order to be eligible for graduation, all students taking the BSBA course are obliged to take the Major Field Achievement Test which also decides top students to be inducted into the University’s academic honors fraternity.

Acceptance Rate

23.64

Student to Faculty Ratio

5:1

Johns Hopkins University is committed to developing leaders who seize the opportunity to create lasting value in a dynamic and changing world. Through its courses, faculty, and facilities, it is one of the pioneers of research and interdisciplinary education.  Its Johns Hopkins Carey School of Business offers a full-time and flexible MBA program designed to improve business knowledge and skills, especially in this rapidly changing world. These courses include knowledge about analysis, innovation and leadership. There are immersive programs, such as innovation field projects, where students can develop innovative solutions to complex problems in business.

Acceptance Rate

11.17

Student to Faculty Ratio

7:1

The University of Southern California is a leader in research, a cornerstone institution and a world center for the arts, business and technology. The various academic courses it offers provide unique opportunities for students seeking interdisciplinary research or research.   Its Marshall School of Business emphasizes innovation and entrepreneurship, social responsibility and collaborative research. The top ranked business administration degree programs at USC are fashioned to equip students to resolve issues in today’s digital era. The knowledge and skills that students learn come not only from high-quality teachers, but also from world-class facilities and resources.

Acceptance Rate

11.42

Student to Faculty Ratio

9:1

The University of California, Los Angeles is a state research institution of higher learning. It was established to create, disseminate, preserve and apply learned knowledge and skills to improve the life of the global society.  Its MBA courses are offered on different platforms to suit various schedules. There are full-time, fully-employed and executive programs. Among the three, only the Advanced MBA offers certificates or elective courses.

Acceptance Rate

12.32

Student to Faculty Ratio

18:1

Washington and Lee University is one of the oldest higher education institutions in the United States. It offers 36 majors and 37 minors for undergraduate studies.  Its Department of Business Management not only educates students in written or oral communication, but also educates the understanding of business theory and practice, as well as the connections between companies and other fields. The course includes teaching the importance of serving others with integrity and foresight.

Acceptance Rate

18.57

Student to Faculty Ratio

8:1

Thomas Jefferson, in 1819, founded this higher learning university and began an experiment. He made sure that the University of Virginia would improve human knowledge, cultivate knowledgeable citizens, and educate leaders.  It offers full-time and executive MBA programs to enhance the knowledge of those who earned a Bachelor’s degree in business administration. Its full-time working hours are 21 months, while executive staff work longer hours. But the courses in both formats can inspire business leaders.

Acceptance Rate

23.94

Student to Faculty Ratio

15:1

One of the oldest universities in the United States, the University of California-Berkeley was founded with a vision that it would contribute to the State’s “gold to the glory” slogan and happiness of the next generations. So far, it has continued the traditions, ceremonies and assemblies that constitute the university's trademark.  It offers a Bachelor’s degree in business administration, which may also continue to master’s degree at the university. For graduates, it offers multiple formats for MBA programs, such as full-time, evening and weekend, and MBA for executives. Depending on the format selected, students may experience a journey of 1 to 3 years.

Acceptance Rate

16.25

Student to Faculty Ratio

20:1

The University of Michigan-Ann Arbor values tradition and is committed to developing leaders who can push the next generation into a brighter and better future. In addition to its tendency to train future leaders and revolutionaries, this institution is also known for its dedication to various research opportunities. It has always been one of the most affordable and quality education institutions.

Business students at the University of Michigan are known for their impact on the world, through investment, consulting, and leadership in actual business activities. According to the ranking made by the Economist in 2019, the University of Michigan’s MBA ranks as one of the leading Full-time MBA programs in the nation. Three months after graduation, nearly 98% of graduates automatically got jobs.

Acceptance Rate

22.91

Student to Faculty Ratio

11:1

Carnegie Mellon University aims to make an impact in different ways from local to global. CMU seeks to cultivate diversity, world-class talents and skills, and create a collaborative learning environment conducive to learner’s excellence and progress.

CMU prides itself with its Tepper School of Business that highlights a dynamic twenty-first century undergraduate business program. At the heart of Tepper’s curriculum for business undergraduate programs, is its value for problem-solving skills and analytical reasoning to prepare their students for a lifelong career. Students admitted to CMU’s business school can advance themselves through the institution’s world class faculty and top-ranked facility.

Acceptance Rate

15.44

Student to Faculty Ratio

10:1

What Business Degree is Best for Me?

Business majors can launch a variety of careers in a number of different industries depending on geographic location, demand, technology, and degree type. The different types of business administration degree programs include certificates, associate degree, bachelors degree, masters degree, and a doctorate degree. To ascertain which programs are right for you, simply research the degree programs below and request information from schools you are most interested in learning more about.

Complete List of Business Administration Degrees

Certificate Programs in Business

An undergraduate certificate in business administration can be a segue for students to learn about business basics, operational techniques, and financial principles. Courses found in many certificate programs include basic courses in marketing, law, organizational behavior, management, human resources, finance, and ethics. Many accredited colleges and universities offer a number of learning modalities for certificate programs that include online, on-site, and hybrid programs. A certificate program may range from 9-21 credit hours and curriculum will range by school so make sure to learn more about schools offering certificate programs below.

Associate Degrees in Business

Associate degrees in business administration may be a viable option for those looking to upskill in their current job or start a new career. The associate degree program in business can be a bridge to a four-year college or university (known as a 2/4 transfer or forward transfer) to continue towards a bachelors degree.

Unlike certificate programs, the associate degree program will include a number of general education courses like creative writing, philosophy, math and English composition to provide an integrative way of thinking. Core business courses for an associate degree in business will often include 100 and 200 level courses in: finance, economics, management, international business, communications, accounting, law, statistics, and computer applications.

The core curriculum found in a business administration degree program are created with career-readiness and real-world applicability at the forefront. Courses found in an associate degree program will help students build necessary business skills and help industry information to retain an entry-level job or jobs in a specialized field.

Associate degrees in business administration can be taken online or on-site through colleges and universities across the country. The type of program and mode of delivery is up to you and recommend reading the following articles to help determine if classroom-based college courses or administration degree online programs are right for you: Which Type of Online Degrees or Credentials are Right for You? and Is an Online College or Traditional College Setting Best for You?

Bachelor Degrees in Business

Students earning a bachelors degree in business administration are equipped with broad financial business topics and deep analytical thinking about specific issues. A bachelors degree in business can be conferred as a Bachelor of Arts in Business Administration (BA), Bachelor of Business Administration (BBA), or a Bachelor of Science in Business Administration (BS).

The difference between a Bachelor of Arts and Bachelor of Science in Business Administration resides within the design of the curriculum established by the college or university along with the contents of coursework involved in those degrees. In general, a BS degree is a more technical and science-rich degree program while the subjects studied while in a BA degree program are broader in nature.

Earning a bachelors degree in business, you will be equipped with the business essentials to step into impactful roles in private institutions, public corporations, and non-profit businesses. Given the nature of the curriculum, you can expect to possess skills necessary to integrate into a variety of teams or roles from a business analyst, consultant, financial manager, operations manager, marketing coordinator, financial analyst, or entrepreneur.

A general set of courses you can expect to take in a Bachelor of Business Administration program will include the following set of 200, 300, and 400 level core classes:

  • Business Law
  • Financial Accounting
  • Managerial Accounting
  • Principles of Macroeconomics
  • Principles of Microeconomics
  • Corporate Finance
  • International Business
  • Financial Management
  • Principles of Management
  • Human Resource Management
  • Principles of Marketing
  • Strategic Planning
  • Organizational Ethics
  • Operations Management
  • Computer Applications
  • Organizational Behavior
  • Probability and Statistics

A number of accredited colleges and universities provide specialty programs in tandem with a bachelors degree in business. For those students who know what they want to do for a vocation while in school or a sector of business that they are passionate about, a specialty would make sense to pursue. Specialty programs will vary from school to school depending on the teaching resources and curricular design but a few specialties worth noting include:

  • Communications
  • Digital Marketing & Advertising
  • Finance
  • Entrepreneurship
  • Economics
  • Financial Planning
  • Green & Sustainable Management
  • Human Resource Management
  • Healthcare Management
  • Leadership
  • International Business
  • Marketing Analytics
  • Public Administration
  • Project Management

Master of Business Administration Degree Online

A masters degree in business administration is known as an MBA. Graduates earning an MBA will be equipped for a number of leadership and management roles in business. A graduate with an MBA can effectively step into a leadership role in a non-profit organization or business consultant with a large, international firm with the same business administration degrees. A common thread for MBA students seems to be their aptitude and willingness to accept financial challenges in a number of different fields of study.

There are several different types of MBA programs for students to choose from when researching college programs. The options to earn your MBA range from full-time to part-time programs and in-class to online business administration opportunities to fit your busy schedule and personal life. A list of MBA programs is listed below with a full explanation of differing programs on our dedicated MBA page here.

  • Part-Time MBA
  • Executive MBA
  • Full-Time Executive MBA
  • Evening MBA
  • Full-Time MBA
  • Accelerated MBA
  • Modular MBA
  • Mini-MBA
  • Distance Learning or Online MBA
  • Blended MBA
  • Dual Degree MBA

Doctor of Business Administration (DBA) Degree

The Doctor of Business Administration degree program is often known by its abbreviated name DBA. Students earning a DBA will be equipped to lead, manage, teach, and consult in private and public organizations. Akin to the PhD track for doctors, the Doctor of Business Administration program builds upon the core teachings found in the upper-level programs found in a masters degree program. These essential educational building blocks provide students with a level of competence in business management, human behavior, financial acumen, and leadership principles to help navigate the road ahead.

The majority of DBA programs require students to select an area of specialty prior to matriculation. Areas of specialty for Doctor of Business Administration students include the following tracks such as: marketing, leadership, international business, project management, human resources, healthcare management, information systems, and accounting. In terms of a dissertation for DBA students, some colleges require a traditional dissertation while others require an applied doctoral research project.

The length of time to earn a Doctor of Business Administration depends on whether students attend school on a full-time or part-time basis. For full-time students with a masters degree in business in hand, the DBA program will likely take three years to complete. For DBA students attending classes on a part-time basis, the program is estimated to take six years to complete. DBA programs are available online and on-site from a large number of accredited colleges and universities to provide the proper degree of flexibility and independence to match your goals.

What Classes Do Business Majors Take in College?

Business administration is a course of study which educates students on how to properly operate, grow and maintain a business. A degree in business administration is useful for finding entry level work in large businesses and corporations as well as assisting in starting a business. A master's in business administration (MBA) is usually required to obtain high level jobs. A variety of MBA programs are available based on the scheduling needs or experience of the interested individual. The time frame for completion of an MBA program is based on the type chosen and taking between one and four years of study.

Curriculum for an MBA program may include:

  • Financial Accounting
  • Economics
  • Technology and Information
  • Human Resources
  • Marketing

Business degrees at the associate level are typically earned by professionals in a given field seeking to grow their business through the application of standard business practices, accounting methodology, and the proper use of advertising to gain clients. Such programs take between one and two years to complete.

Online Business Degree Resources

In response to overwhelming requests from students, we have assembled a number of guides and resources with respect to online business degrees.  The online business degree programs have been growing at a rapid pace for a number of years and may be worth considering for a variety of reasons.  Students earning a business degree online may have a greater degree of flexibility while working, a greater level of independence, and likely save on overall costs of earning a traditional degree by bypassing inherent costs like room & board, parking, transportation, and vehicle maintenance.

Prior to jumping into an online business degree program, take the time to create a priority list.  This list must be specific to your goals and aspirations to have the maximum impact.  Cross-check your list with the resources listed below and begin reaching out to accredited colleges to earn your business degree online or in a traditional classroom setting.

How Important is Accreditation for a Business School?

Accreditation is the process of a third-party accrediting body officially recognizing a college or university meeting published school standards.  An accrediting body certifies and attests that a college meets or exceeds established academic standards thus giving institutions, teaching staff, and students credibility and assurance.  The two types of academic accreditation include specialized accreditation and institutional accreditation.

A specialized accreditation is where a college or university seeks to have a specific degree or department accredited in a different manner than the rest of the school.  On the other hand, an institutional accreditation is conferred to an entire school across all departments and degree paths.  Make sure schools you are interested hold a national or regional accreditation from an institution recognized by the U.S. Department of Education (DOE).

Schools Other Students Requested Information From:

Employment Opportunities for Business Majors

Those who work in the field of business administration will be required to manage people and tasks in order to achieve short- and long-term goals set forth by the organization and operation heads. Due to the changing nature of business and the large pool of knowledge and information necessary to properly manage operations, businesses will often require a minimum of an MBA to be considered for high level positions. It is important to note that many graduate schools offer MBA programs for individuals currently working as financial administrators and are looking to advance.

In addition to an education, a number of skills have proven necessary over time for an individual to be successful business administration professionals. Many of these skills may be learned or developed over time and through practice, and any individual wishing to forge a career in business administration should work hard to strengthen them. These skills include:

  • Verbal Communication
  • Flexibility
  • Multitasking
  • Creating & Maintaining Organizational Culture
  • Authenticity
  • Critical Thinking & Problem Solving
  • Empathy & Patience
  • Public Speaking
  • Persuasion Skills
  • An Open Mind
  • Active Listening Skills
  • Good Judgement
  • Writing Skills
  • Innovative Thinking
  • Negotiating Skills
  • Leadership

How Much Money Do Business Majors Make?

Jobs in business management are expected to grow steadily over the coming decade.  The yearly salary of a business manager is highly dependent on education, experience, location and the size of the business he or she works with.  The median salary for administration services is approximately $73,000 per year, with the lowest ten percent typically earning $37,000 per year.

Those who obtain an MBA should expect to see a large jump in salary with the national average salary for business majors at $84,000 per annum.  Again, experience coupled with organization type and geographic location will also impact the starting salary for MBA graduates.

According to the latest study performed by the Seattle-based data aggregator, Payscale, the following represent a typical starting salary by degree and profession while the next column represents a mid-career average salary.

Degree Area                         Average Starting Salary     Average Mid-Career Salary

International Finance $54,500 $112,000
Business Technology $58,700 $105,300
Economics & Business $53,000 $104,000
Finance & Accounting $52,200 $89,000
Human Resources $42,300 $71,500
Financial Management $48,000 $82,000
Marketing $46,000 $97,200

 

Students interested in earning a degree in business administration may also be interested in pursuing a degree in international business, business economics, or accounting and business management.

Top Rated Business Associations
  • National Federation of Independent Businesses (NFIB)
  • Business Professionals of America (BPA)
  • American Business Women's Association (ABWA)
  • American Finance Association (AFA)
  • American Management Association (AMA)
  • National Human Resources Association (NHRA)
  • American Bankers Association (ABA)
  • American Marketing Association (AMA)

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