The corporate landscape is continuously shifting. And the skills and expertise that companies require have changed enormously in the last several decades. Nowhere is this more evident than in the labor market, where employers have created a variety of new, exciting roles for graduates.
Drawing on data from a variety of sources, including the U.S. Bureau of Labor Statistics, LinkedIn, McKinsey Global Institute, PayScale and others, we’ve put together a list of the most in-demand business degrees for 2020 and beyond.
If you’re thinking about which degree to pursue, either as a graduate or postgraduate, then this article will help you pick an option that prepares you for a lucrative and rewarding career.
1. Business Administration
Average salary: $70,000 to $140,000
Key Skills: Strategy, human resources, finance, sales and marketing.
Master of Business Administration degrees or MBAs are among the most recognized and respected of all business qualifications. MBAs take a broad approach to business training and encompass a variety of subjects, including economics, public relations, finance, sales, marketing and more.
Individuals with MBAs tend to work in upper management in large organizations and draw on a comprehensive set of skills to ensure continued performance and growth. Often, MBA students will choose to specialize in a particular area. At EU Business School, we offer a range of tailored MBA programs across disciplines as diverse as global banking, finance and sports management.
2. Project Management
Average salary: $49,000 to $112,000
Key Skills: Communication, budgeting and human resources.
Careers in project management consistently rank highly in terms of job openings, salary and workplace satisfaction. Project management is usually studied exclusively as a single major or as part of a broader business administration degree.
In all cases, project managers are responsible for conceiving, overseeing, and completing projects within a company, ensuring that objectives and budget constraints are met. Because project managers are usually responsible for multi-disciplinary teams, good communication skills are essential. As virtually all businesses run self-contained projects on a continuous basis, experienced project managers are highly sought after.
3. International Business
Average salary: $45,000 to $122,000
Key Skills: Global finance, economics and international law.
As the world becomes increasingly connected, the need for individuals who understand the international business landscape will continue to grow. Graduates with a degree in international business are able to bridge gaps between cultures, languages and foreign markets to implement broad, country-spanning strategies.
Students majoring in this subject will study a range of topics, including global finance, law, economics and supply chains. Large companies in particular are increasingly looking to hire people with the skills to identify and leverage emerging international markets successfully.
4. Data Analysis
Average salary: $43,000 to $85,000
Key Skills: Data analysis, computer programming and business strategy.
Corporate data analysts combine two equally important disciplines. On the one hand, they are responsible for collecting and organizing large datasets from a variety of sources. On the other, they also need to interpret this data to glean meaningful business insights that will enable companies to identify trends, better serve their customers and enter new markets.
With more and more organizations taking a data-backed approach to key business decisions, the demand for analysts has never been greater. Graduates working in this field will combine mathematical fastidiousness with a high-level understanding of business strategy and operations.
5. Financial Management
Average salary: $47,000 to $82,000
Key Skills: Financial analysis, accounting and forecasting.
Financial considerations pervade every aspect of a company’s day-to-day operations. As a result, financial management degrees are very attractive to employers. Companies of all sizes, from small startups to multinational conglomerates, require experienced financial professionals.
A degree in financial management brings together a broad set of finance-related skills, including analysis, accounting, forecasting and assessment. Once they enter the workforce, graduates will be expected to use their training both to help companies make crucial high-level decisions, as well as to provide a structure for day-to-day processes and projects.
6. Digital Marketing
Average salary: $44,000 to $99,000
Key Skills: Advertising, online technology, marketing and brand strategy.
The internet has changed the world in myriad ways and continues to affect how people purchase goods and services. Big online companies like Amazon, Facebook, and Instagram, for example, have irrevocably altered the consumer and corporate landscape.
As more businesses seek to establish and manage an online presence, and with an ever-increasing number of startups appearing, digital marketers are more in demand than ever. Digital marketing roles boast high salaries, flexible hours and exciting, dynamic working environments.
Individuals that want to work at the cutting edge of the business space will gain a lot of satisfaction from a digital marketing major and can expect a career that demands a creative and innovative approach.
7. E-Commerce Management
Average salary: $40,000 to $99,000
Key Skills: Business administration, logistics, advertising, data analysis and finance.
E-commerce professionals are responsible for managing and driving a company’s online sales. Expertise in this field encompasses a wide range of business skills, including online advertising, branding and design, finance, data analysis, user experience optimization and general administration.
E-commerce managers have to coordinate numerous departments like sales, marketing and human resources while also ensuring robust supply chains and delivery networks. It’s a demanding job that understandably commands a high salary and offers many opportunities for advancement.
People that are eager to work in a consumer-facing company, as opposed to a business-to-business one, will benefit most from a degree in e-commerce management.
Prepare for a Career in Business With EU Business School
EU Business School offers degrees in all of the fields outlined in this post. If you’re eager to pursue a career in business, a qualification from EU Business School will provide you with all the experience and skills to advance in your chosen area. What’s more, you’ll have the opportunity to study in some of Europe’s most exciting, vibrant cities. Take a look at our wide selection of programs to learn more.
Resource from EU Business School