6 Jobs You Can Do if You Have a Business Degree

Whether you love fashion and want to become a purchaser, or you're interested in the restaurant industry and hope to work for a multinational chain, one thing is for certain: regardless of the industry, business is the backbone of it. More people than ever are choosing to earn a business degree. More than 3 million business-related positions became available in 2018.

1. Accountant

One of the most common jobs for people who have business degrees is to become an accountant. Accountants have a range of responsibilities, including ensuring the company they work for follows tax guidelines and other government regulations, helping it save money, and maximizing its profits. Accounting jobs are available in a wide range of industries. Some job duties include conducting audits, consulting with department heads, and leading the finance division of large corporations. The median income for an accountant was just over $70,000 in 2018, and job options are on the rise.

2. Purchasing Manager

Of people who earn business degrees, purchasing managers earn the highest average salary at nearly $112,000 per year. Purchasing managers for large companies take on the job of ordering necessary materials. They are responsible for planning the "shopping list," ensuring the purchase goes smoothly, tracking inventory, and sticking to a budget. Keep in mind that this position is lucrative, but not growing quickly. It only has an expected growth rate of 1% over the next few years, so it is a competitive field.

3. Business Analysts

Business analysts are one of the most in-demand jobs for people with business degrees right now, especially if it that degree is a business analytics online masters. Business analysts observe business and market trends to help businesses decide which steps to take next when it comes to their finances. Analysts use a variety of skills that include research skills, communication skills, analytical thinking, and a strong sense of business. The specific focus of the job will depend on the company the analyst works for. Business analysts earn an average of about $69,000 per year.

4. Actuary

If you love to assess risk, your business degree could go to work to help you become an actuary. Actuaries work in the insurance industry to assess how likely it is that a risky event will occur. They primarily assess the likelihood of events such as injury, fires, major illnesses, accidents, and death, to determine how much an insurance provider would need to pay out in a claim. Skills required for the job include economics, finance, and accounting, along with the use of databases, statistical software, and spreadsheets. An actuary earns an average of $103,000 per year and has an expected job growth outlook of 22% until 2026.

5. Loan Officer

Many business degree holders go on to become loan officers. Loan officers use credit scores, software, and other algorithms to determine whether individuals and businesses are eligible to receive loans. In addition to interpreting data, loan officers must have communication and customer service skills. Job growth for loan officers is expected to be about 8% over the next few years, and the average salary is just over $67,000 per year.

6. Sales Manager

Business is all about sales, so naturally, someone with a business degree can become a sales manager. Sales managers lead a team of representatives to help them set and meet goals, create and stick to budgets, and plan expansions. Managers are also responsible for training new members of the sales team. Some managers also provide extra support when clients have more difficult questions or complaints. A position as a sales manager is a great choice for people who are outgoing and love to communicate with others but also enjoy strategic thinking on their feet.

Whether you want a job that's purely analytical or one that mixes business with the socialization of more interpersonal roles in a company, one thing is certain. Obtaining a business degree, especially a master's in a specialty, makes it much easier for you to progress down your chosen career path.