The prospect of going back into academia and earning a business degree is something I have been thinking about a lot recently. A career in business has a lot more opportunities than a lot of people realise; business serves as the foundation for political, social and economic systems. It’s important to understand that business degrees are varied and offer a variety of specialisations and benefits depending on your career goals. From working as an accountant or business lawyer to work involving the Derivatives Market, a business degree can teach you invaluable skills and secure you a top-paying job.
Types of Business Degrees
Business degrees encompass a wide range of courses and subjects including management, economics, finance and accounting. Some degrees are interdisciplinary while others are very specialised. A lot of individuals choose to combine business degrees to achieve a more competitive edge. For example, you might choose to study international business and modern languages, marketing and computer sciences, strategic management and finance.
What to Expect
Undergraduate business degrees typically last 3-4 years, depending on the country and program and then it is highly recommended to obtain a master’s degree which can take one 1-2 years. As an undergraduate you will generally focus on learning core business principles and ideologies before moving into specialisations.
From the master’s level onward, your education will be highly specialised on your particular interest in the business sector though there is still a great deal of flexibility. Masters of Business Administration (MBAS) and Executive MBAs are suited for individuals who have gained professional experience and development.
Over the period of your education you will gain tremendous skills that can be applied to jobs in every business sector in addition to other fields including:
- Problem solving
- Decision making
- Logical and critical thinking
- Oral and written communication skills
- Report writing skills
- Presentation skills
- Project management
- The ability to interpret complex financial data (such as Swap Rates)
The best reason to study business is the variety of different fields that you can find great careers in. The most obvious type of careers is accounting or business planning but a variety of sectors have demand for business degrees such as marketing, law, human resources and more. There are many sectors that individuals without business degrees might not even realise are a major part of the global economy such as clearing houses that deal with Interest Rate Derivatives, the Cross Currency Swap and more.
A business degree will provide you with the education and training that you need to achieve your goals in the business and finance industry in addition to providing you with practical skills for career advancements. It’s important to choose a specialisation based on your personality, goals and personal strengths.