Putting A Dollar Value On The ECU Business Degree
Written by graduate student Reka Reyna
Some degrees are more valued by employers than others. According to a variety of online sources one of the most effective degrees in today’s economy is a Business degree. “When businesses hire, they look for that broad range of basic skill sets that they can build on,” says Michael Brandt, chief operating officer of the recruiting software firm BrightMove, Inc. In fact, many employers think a bachelors or master’s degree in business is a good fit for a variety of positions.
That sentiment is backed up by the NACE Salary Survey (www.naceweb.org/salary-survey-april-2012-executive-summary.pdf) that shows some impressive numbers for salaries paid to new business grads in 2012:
- For accounting majors, the median salary was $47,800 in 2012. Top employers for accounting grads included professional, scientific, and technical services (including accounting) firms, but wholesale employers offered top pay—$51,500 on average.
- Business administration/management majors received a median pay of $49,200. Employers in the finance and insurance industries reported the largest number of new grad entrants, with an average starting salary of $51,300. Highest pay, however, went to business administration grads who landed jobs in the finance and insurance industry; employers in this industry provided these grads with an average salary of $63,900.
- Economics graduates earned one of the highest starting salaries. Their median starting salary stood at $54,800 in 2012. They found the largest number of opportunities with finance and insurance employers; their highest starting salary—$57,000—also came from these employers. Moreover, economics grads who landed jobs as financial managers in the finance/insurance industry saw their average salary top out at $64,000.
- Starting salaries for finance majors in 2012 was $49,700. Although their overall starting salary is lower than that of economics graduates, those who took jobs as financial managers outpaced their counterparts, earning an average starting salary of $66,000.
- There is also positive news for marketing majors: their median salary was $49,600 in 2012.
These numbers show starting salaries of graduates with Bachelor’s degrees in Business. These figures are higher for Master’s degree holders. Not too bad in a struggling economy!
Beside great starting salaries, a business degree also offers great flexibility; there are many fields that are open to business graduates. Besides the traditional finance and accounting positions, there are some less obvious industries that could be a great fit for those with a business education: The following industries are regularly hiring business grads.
- Department of Defense
- Public Relations
- Social Media Marketing
- Event Planning
- And the list goes on and on
A business degree provides graduates with a great foundation that allows them many choices in today’s economy. ECU College of Business’s Leadership and Professional Development program enhances this foundation with advanced courses that prepare undergraduate students for the real business world. COB students also create an ePortfolio that showcases their personal leadership development and their achievements, and by the time they graduate, students have tangible evidence of their accomplishments in a professional, multidimensional format that provides crucial information to potential employers.
So ECU COB business students, rejoice! The business degree you are working on today will bring amazing opportunities tomorrow!