However, business majors are finding, when they graduate, that the job market just isn’t there.
The vanilla business administration major may no longer be the way to go for those looking for the fast track to a cushy management or analyst job.
Business Majors are Underemployed
Currently, business majors are underemployed. Indeed, CNN Money reports on a study from PayScale showing that business majors are more likely than other college grads to be underemployed.
PayScale’s report found that business majors are 8.2 times more likely to find jobs that are below their skill levels. That is a higher likelihood than drama or English majors. The CNN Money article points out that most business administration majors try to pursue jobs as management analysts. Instead, they are most often working as retail store assistant managers, waiters, and collections managers.
[Check Your Credit: Don’t Guess. Know.® Get your free credit report and score. No credit card required.
None of these are jobs that are seen as having a lot of upward potential.
What Can Business Majors Do?
The key, according to CNN Money and PayScale, seems to be to specialize. Just getting a plain vanilla business administration degree isn’t going to cut it. Instead, business majors should consider getting a specialized degree, like finance or accounting. Accounting majors are doing much better when it comes to finding work that fits their skills; there always seems to be demand for competent accountants.
When choosing a major, it seems as though some degree of specialization is a good idea. General purpose degrees are a dime a dozen, with college grads flooding a job market that is already tough, and a business administration degree is one of those seeing oversaturation.