If we ask why you want to pursue a certain degree, such as marketing or finance, what would be your answer? Probably because it interests you or maybe because you expect that degree will help you earn a good salary?
When making career choices, it is commonly one of these two reasons why individuals opt for a certain field of study. But the best decisions emerge from combining your interests with the expected value that a degree can add to your career in the future. It is where you get the highest return on investment.
ROI or return on investment is a way to measure the benefits you can reap from a certain investment that you make to a certain period. So, in the case of getting a degree, higher-paying jobs with nominal tuition fees can result in a good return. If you wish to acquire a business degree but are wondering which specialization can reap the best ROI, then read further. Here we list seven degrees in business that can get you the best returns on your investments.
- Human Resource Specialists
Organizations always need human resource specialists to manage various tasks. These include employee retention, training, and development, employee relations, etc. No organization can function effectively without the administrative functions, as companies need to recruit, train, retain, and lay off staff from time to time. When employees work together, there are numerous rifts that the HR specialists need to resolve for the business to function as a cohesive structure.
Also, over the years, entrepreneurs have now realized the significance of having motivated and well-trained staff. The HR people work to ensure that the business owners and employees function on the same page to achieve the organizational goal. It is why we believe an HR business degree has a potential ROI. Those interested in this field can opt for an HR degree online, which reduces program costs and the tuition fee. It can further enhance your ROI through a successful career.
- Management Information Systems (MIS)
Information technology has to be by far the most sought-after field in the upcoming years. Over the years, technology has transformed the way businesses now function. Even the smallest of businesses today rely on computer software to run their basic tasks. Knowing how to integrate technology with business processes is the most crucial role in an organization.
A degree in MIS helps students learn about business concepts and technology. An MIS graduate may work in the capacity of systems analyst, database administrator, information security analyst, data scientist, etc.
- Entrepreneurial Studies
Even if you do not want to open up your business venture, a business degree in entrepreneurial studies can brush up your business management skills. Employers today do not simply hire resources that have the right technical knowledge but also want people who can add value to their business operations. It is not fruitful to make technical decisions without keeping them in line with the company goals. A degree in entrepreneurial studies gives you the skills to manage a business. Because of its growing scope, the ROI of entrepreneurial studies is quite well.
- Marketing Management
Much like every other field, marketing has also massively transformed over the decade. Now, it is all about maintaining a strong social media presence, creating a solid brand identity, and maximizing the use of technology. Consequently, businesses now need fresher minds to understand customer perspectives and assess the changing trends of the marketing world. Taking up a degree in marketing management will allow you to be one of those that assist businesses in transforming their marketing functions. Moreover, the average salaries of marketing professionals are fairly high, making it one of those degrees to reap an amazing ROI!
- Accounting And Finance
Finance is one of the core functions of a business. Without adequate financial management, a company is worthless. This is why finance and accounting professionals enjoy lucrative opportunities in the professional world. An accounting and finance degree helps you gain an in-depth knowledge of business financing, including reporting, filing taxes, managing costs, budgets, etc. Since it is one of those fields that never goes out of demand, it can surely give you a good return on your investment.
- International Trade
As the name suggests, a business degree in international trade helps you study the commercial transactions between government and businesses internationally. You will also learn about commerce and trade policies and how they affect the economy. It is a multifaceted field that lets you explore political, cultural, and corporate practices locally and internationally. This program helps you look into cross-cultural trade and equips you for leadership roles in public and private organizations.
It is a challenging field of work, which requires you to travel between countries. It is also why international trade specialists are most highly paid, making it one of those degrees that reap an excellent ROI.
- General Business Administration
General business administration gives you an overall understanding of how a business operates instead of specializing in a specific field. Students learn a bit about leadership, business ethics, marketing, financial accounting, budgeting, etc. They get a glimpse of all aspects that help a company run perfectly.
It is ideal for graduates from another subject of study to pursue an MBA in general business administration. It ensures that they are well-versed in how to manage a business along with their technical expertise. It can groom technical professionals to move up on the corporate ladder and take up executive positions in company management. Thus, it adds value to your portfolio and enhances its ROI manifold.
When making career choices, it is best to opt for options that can turn into fruitful careers in the future. It will help if you research all your available alternatives and make an informed decision. We have highlighted a few degrees above according to the potential ROI they reap. You can choose a degree out of these options, and we are positive that you will have a bright career ahead!