The Highest-Paying Careers for Business Majors
As a business major, a job with a good income could lie in your future. There are some careers in particular that lead to the highest salaries — here are a few options to consider.
To become an actuary, you need a head for numbers as well as business acumen. The position entails evaluating financial risks for your company by using data analysis. You may also be responsible for designing policies or strategies to prevent risk. In addition to a bachelor’s degree, you’ll need to become certified as an actuary. Expect to study a further four to five years and take several exams.
Another position that involves using numbers is as a controller. As you’ll be supervising the accounting departments at a large company, you’ll need to understand both finances and law. You should also have good leadership skills to be able to manage employees and oversee projects. To land such a position, your best option is to earn an MBA after your bachelor’s degree, although working as an accountant for several years can also help you progress to a career as a controller.
3. Product Manager
Leadership is a key skill for many of the highest-paying business careers. For instance, product managers guide teams to bring products or services to market. This also requires excellent communication skills and a deep understanding of your sector. Many product managers work at tech firms, but they’re necessary in just about every industry.
4. Financial Advisor
Also called financial planners, financial advisors provide support to individuals rather than businesses. Working in this role, you’ll come up with personalized investment strategies based on your clients’ salaries, assets, and debt. The job requires a knowledge of economic trends, estate planning, and tax law.
5. Business Analyst
There are few better options for someone with excellent analytic skills than becoming a business analyst. You’ll seek business opportunities and create plans to improve processes at your company. You must also be able to communicate your ideas and manage employees as they execute your projects. It is most common for business analysts to work in the healthcare and tech industries.
6. Business Development Manager
As the name suggests, business development managers help companies grow. Work can be diverse, ranging from monitoring trends and acquiring leads to improving financial strategies at the company. You’ll interact with a wide range of people, including employees in various departments and clients, to help your company improve the customer experience. After you graduate, you’ll need to gain some experience in business before you can apply for such roles.
7. Loan Officer
The main duties of a loan officer are reviewing individual or business applications for loans and explaining the process to applicants. Jobs are with banks and lending companies, and each loan officer specializes in a particular type of borrowing. If you want to become a mortgage loan officer, you’ll need to earn a mortgage loan originator licence on top of a bachelor’s degree.
8. Research Analyst
If you’ve enjoyed research projects at university, you may like to pursue a career as a research analyst. The job involves identifying trends that could help a company improve the profitability of its products. Often, the role means collaborating closely with the sales and marketing departments. You can apply for an entry-level position with just a bachelor’s degree.
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