There has been a lot of news about the economy lately, and certainly no shortage of complex problems that need creative solutions. For those with an eye toward studying business, there is a lot of opportunity to make a real difference, both at home and abroad. If you are considering a business major, it is important to be well informed. We have compiled some Q and A’s about majoring in business that can help you make that decision.
1) Do I have to major in business in order to go into business or finance after I graduate? The short answer is no. A business major is not necessary to go into business or finance. For good preparation, focus on getting a good grasp of mathematics, statistics, economics, and the social sciences, while also gaining some work and internship experience.
2) What kinds of business majors are there? There’s a wide range of business and business-related majors. The most common are Business or Business Administration, Management, Accounting, Finance, and Marketing. There’s also an increasing interest in International Business, due to the ever-growing importance of the global economy.
3) Can I major in business everywhere? No, not all colleges will offer a business major – but not pursuing a business major in no way prevents you from entering the business field after graduation. Business majors are typically offered at larger universities, sometimes offered at medium-sized universities, and less frequently offered at small liberal arts colleges. However, some liberal arts colleges do offer majors in business and you can usually find strong career advising in this field. If a small liberal arts college does offer a business major, it will probably be Business or Business Administration. In addition, at schools without business majors, students will often major in Economics while pursuing business career advising.
4) What will I learn as a business major? This varies from school to school, and depends how specific your business major is. An accounting major, for instance, will prepare you very specifically for a career as an accountant. A standard business major, however, will provide the skills and knowledge you’ll need to be an effective, responsible member of the work force in business, government, or non-profit work. This involves studying planning and organization, leadership and group dynamics, and, of course, finance and economics.
5) What should I ask the colleges I’m interested in about majoring in business?
- Do you have a business major or multiple business majors?
- If you don’t have a business major, what do students who are interested in business at your school tend to major in?
- Does your school’s business major have any unique focus or specialty?
- Is there specific career advising for students interested in business?
- Are there internship or co-op opportunities for business majors?
- Do you offer a fifth year MBA option?
- Do companies recruit on campus?
There are many paths to prepare for a career in business. If your interest in business is both academic and professionally oriented, there are myriad opportunities to major in business and a variety of business fields. You can also pursue numerous non-business majors alongside career advising to be prepared for the business world, and most colleges will have career advising and assistance of some sort available to you. Just remember that if you’re serious about going into business, there are many ways to get there; select the programs that are the best fit for you.