Those interested in business related careers will ultimately want to know about the business degrees with the best return on investment. University business degree programs are numerous and choosing among the various concentrations is a challenge. The modern trend toward online business degree offerings only expands the options for business minded students. However, a few resources are available to prospective students that can help guide their decisions about choosing an area of study. For example, students and their academic advisors have access to the Bureau of Labor Statistics’ (BLS) Occupational Outlook Handbook which is a free online database containing facts about nearly every job in the nation. Armed with these facts, prospective students are able to make informed decisions regarding the necessary degree programs needed to launch successful careers in business. Upon close examination, here are some of the best business degree programs for the money.
Undergraduate Degree in Management Information Systems
One of the hottest careers in the national job market is data analytics. The career is classified under names like database or computer systems analyst, and it requires the mastery of skills in both the business and computer science disciplines.
Some of the functions of computer systems analysts involve extracting the right data sets and analyzing them to generate information used for strategic and operational decision making.
This career had over 520,000 positions in 2012, and it has an average job growth rate of 25% which is greater than the national average for jobs across all industries. The average annual pay for this type of career climbed above $79,000 in 2012 for those with an undergraduate degree even without prior significant work experience.
The business degree that most commonly prepares computer systems analysts for success is the bachelor’s degree in business with a concentration in management information systems (MIS). The degree usually requires four years of full-time study to complete, and the average cost of this degree program among eight prominent colleges surveyed was $486 per semester credit hour.
Graduate Degree in International Business
Globalization has not only expanded the opportunities for company growth, but it has also opened up exciting new avenues for business degree holders with the proper credentials and skill sets. According to the BLS and other employment data, U.S. markets favor financial analysis and management careers as well as those in supply chain management. The skills associated with these careers are especially important for corporations doing business in foreign markets. For students who already have an undergraduate degree and are looking for the best graduate level degree for the money, a master’s degree in International Business is worthy of consideration. A prominent international business school in Florida charges a little over $33,000 for its Master’s in International Business degree program.
A cursory look at the BLS database will give one an idea of a job’s earning potential, required academic and professional experience needed for the job and the amount of jobs available during certain time periods. Additionally, the BLS gathers data on various labor markets over many years and is able to project job growth rates for up to ten years into the future through data analysis. Business degree programs that support success in high growth, high paying positions are considered the business degrees with best return on investment in the long term.
Further Reading: Top 20 Online Colleges with High Return on Investment