The contemporary world has plenty of career options, and students find themselves under immense pressure when they have to choose a career path for themselves. The transition from high school to college is a tumultuous time of their lives, and especially the stress of selecting a major overwhelms them. Their decision to choose a particular subject to attain a degree decides their future in a significant way. Although some of the degree holders eventually decide not to pursue careers in the same field.
Business administration is one of the most in-demand majors for many years. Many students who cannot decide on a career path for themselves end up choosing business administration either because of peer pressure, or they simply want to join the bandwagon. A degree in business administration is undoubtingly a legitimate way to break into the business world; however, a specialized degree in accounts or finance would attract more attention from the recruiters, and degree holders in these fields often land jobs without much effort.
Nonetheless, a degree in business administration is a popular choice, and every year students in flocks register for it.
The following are some of the pros and cons of acquiring a degree in business administration, which will help you in deciding your major:
Pros of Acquiring a Business Administration Degree
- High Demand in Market
Many employers consider a degree in business administration as the key to success. They prefer degree holders in the business field over other degrees, as they believe earning a business degree is a vigorous process that prepares students for real-world challenges. Business administration degree holders have the edge over other fields’ degrees as they are always in demand.
- A Multitude of Career Options
The degree provides students with a strong academic base in the fundamental functions of a business. A person who has acquired a business degree develops a skill set required for various fields in the industry. The degree opens up the doors of diverse career paths. It prepares you to work in a vast number of popular tracks, including finance, accounting, management, sales, international business, and marketing. That also gives degree holders the option of switching their fields after serving in a particular area for a few years.
Education trends are ever-changing, and the e-learning market is booming these days. Owing to the outbreak of COVID-19 and the lockdown administered nationwide by many countries, more students are turning to digital platforms to earn an online business degree to further their job prospects. Now students around the globe can register themselves to benefit from the reputed colleges to earn their master’s degree.
- Attractive Salary
The prospects of salary play a significant part when students choose a major after high school. When we compare college graduates’ wages among majors, business takes the lead. Other fields like chemistry or international relations are equally challenging, but graduates in these fields do not get a high salary like business graduates.
- Useful Skills
The education one receives from a business administration degree equips one to function in the corporate world, regardless of their field. The awareness of operational techniques and business methods makes you a better contributor. Even people who end up in a non-business related sector still have some interaction with business communities, and a degree in business enables them to understand their norms, values, and practices.
- Networking Opportunities
University students get immense networking opportunities. As a student, you meet professors, recruiters, and when you attend various workshops, you see people from other universities with the same background. They can guide you about the spheres of professional life and can even help you secure a job while you are still pursuing your degree.
Cons of Acquiring a Business Administration Degree
- Cut-throat Competition
As stated above, business is a popular choice as a major amongst students, and hence you need to score good grades to enter this field. Even when you have secured admission, the stiff competition will not stop; instead, it will get intense. Needless to say that since a plethora of students earns a degree in business, recruiters get plenty of job applications for a single post.
- Time Commitment
A degree in business administration means excessive assignments, quizzes, and assessments. It requires dedication from the students for four years if they are pursuing a bachelor’s degree and for two additional years if they want to continue to an MBA. The degree requires a high level of discipline and commitment in terms of attention and time.
Business as a major has the potential of breaking your bank. Tuition fees alone mean a considerable financial commitment, and apart from it, there are various other expenses related to studies, such as textbooks, housing, stationary, etc. The expenditure of a multi-year degree is expensive, and students should think hard before making a final decision.
- Less Emotional Support
Surveys have concluded that students studying business as a major do not receive much emotional support from faculty members or fellow students. The studies expose an environment of lethal competition. Students of this field are generally less sensitive to others. Usually, mentors help in a significant way in college, especially in the first year, emotional support is vital. The students of business administration are enthusiastic about the degree but lack the emotional component.
- No Industry Specific Course Material
A degree in business administration is an intense process, yet when you enter the professional world, you realize that the course did not cover many essential aspects. Unlike other fields like health administration or literature, degree holders of business administration may require new knowledge and support even after the degree.
A degree in business administration is not a bed of roses, but one that requires extensive hours and long-term commitment. Far from the general perception, business degree holders do not always land a job in a dazzling environment of suits and ties. But the degree does pave the way to diverse careers, and they can gain entry into a variety of fields. And acquire many useful skills such as decision making and leadership qualities, which help them in every phase of human life.