The National Center for Education Statistics reports that, of all the degrees students can potentially earn at postsecondary schools—from psychology to health-related degrees to education—the one field of study that is most popular is business.
With approximately 364,000 undergrad business graduates and 185,000 graduating with a master’s-level degree annually, this one career track is highly desired by many. Especially when it is an online business degree. Why?
1. The Field is Growing
Between 2016 and 2026, there is expected to be a 10 percent growth in business and financial operations occupations according to the Bureau of Labor Statistics (BLS), with an anticipated 773,800 jobs to be added in this field during this ten-year period of time.
This is a rate that the BLS indicates is “faster than average for all occupations,” with that average being closer to seven percent, which is great for business students because it means more job openings in the years ahead.
2. The Ability to Work in a Variety of Roles and Settings
With a business degree, you can work in numerous different workplace roles. For example, if you earn your degree in business, you can work in the accounting or finance department of a business, or you can work in human resources, marketing, or public administration.
You can also work in a variety of settings with a business degree. Some of these roles may mean working in an office building, whereas others could involve spending your days in a healthcare setting, such as helping run hospitals and other medical practices. Business majors can also work in international business settings, opening up travel opportunities to unique locations around the globe.
3. Taking Classes When It’s Convenient (and Best) for You
When you earn your online business degree, you get to take classes when it’s most convenient for you. This enables you to work around all of your other obligations and, at the same time, still being able to attend the classes you need to enhance your business knowledge and skills.
Taking courses online also provides the convenience of taking classes when you learn best. For instance, some people are naturally better learners first thing in the morning. Others have an easier time studying later in the evening. With online classes, you get to choose the time that meshes with your learning needs.
4. The Ability to Earn a Higher Income
While money certainly isn’t everything, data provided by the BLS indicates that the more you learn, the more you can also earn. In fact, median weekly earnings for individuals with a doctoral degree are approximately three times as high as those without a high school diploma at $1,743 and $520 per week, respectively.
Bachelor’s-level graduates also earn about two times as much as those with a high school diploma but no college ($1,173 per week versus $712, respectively). Over the course of the length of a career, these weekly income differences can really add up, with a 30-year work history netting at least $719,160 additional dollars for college graduates than those working without a college degree.
5. Lower Unemployment Potential
BLS data further indicates that the higher your level of education, the less likely it is you will ever find yourself unemployed. Specifically, if you don’t graduate from high school, your unemployment rate is 6.5 percent. However, if you have a bachelor’s degree, your likelihood of facing unemployment falls to 2.5 percent. Go one step further and earn your doctoral degree and the rate is even lower, at 1.5 percent.
Certainly, being unemployed impacts you and your family financially, but it also has mental health effects as well. According to the American Psychological Association, these include lower self-esteem and higher rates of anxiety, self-doubt, and depression. If obtaining a college degree can help you avoid these types of issues, that is money well-spent.
6. A Less Chaotic Schedule
When you think of earning your college degree, do you break out into a cold sweat as you think of the amount of time it is going to take out of your already packed schedule? If so, earning your online business degree makes it possible to take the classes you need without infringing on all of your other obligations.
Because online classes aren’t a set day and time, you get to fit them in your schedule wherever they make the most sense for you. And, since you don’t have to waste time traveling to and from classes, this is time you can use to tend to your family, handle your work duties, or get your classwork done.
Earning your business degree provides a lot of benefits. Earning your online business degree provides even more.
Saint Leo University offers a number of business degree options—from a Bachelor of Arts in Business Administration to a Master of Business Administration. All you have to decide is which is best for you, and Saint Leo can help you do the rest.