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Which Business Careers Provide the Most Long-Term Benefit?

by Rohan Mathew
Which Business Careers Provide the Most Long-Term Benefit?

Now more than ever, students and professionals alike must consider carefully the long-term value of their skills, qualifications, and overall education. In a world where an increasing amount of global competition exists, not all areas of study or career paths offer the same benefits – whether they be financial or otherwise.

With regard to ensuring the long-term sustainability of one’s career path, evaluating elements such as overall job security, opportunities for advancement, salary and industry growth are vital considerations. As such, taking ample time to ensure you’ve chosen the right career path can make a huge difference in overall earnings and professional potential.

In the world of business specifically, varying levels of success exist depending on which careers and degrees are pursued. Given that more people pursue business degrees and careers than in any other formal area of study, knowing which offer the most long-term benefits is important.

To guide you in the right direction, let’s examine a select number of business careers and degree programs that will statistically provide the best value in the decades to come.

Business Administration

Business degrees are the most common degree pursued in the United States, as well as in a variety of other countries around the world. A business degree obviously has value – but the number of individuals with generic business degrees means that pursuing additional education is often recommended. Arguably the best degree to pursue is business administration.

A career in business administration – especially with an MBA – opens a very wide set of pathways in terms of potential careers. Most MBA degree programs can be pursued online, making it easy to pursue additional education while employed in a professional capacity. The competitive earning potential and the sheer number of jobs one can earn with this degree make it immensely useful in terms of providing long-term benefit.

Maximizing the value of your MBA degree program can not only lead to long-term benefits but also short-term boosts in employment potential and earnings. To learn more about how you can get the most out of your MBA program, visit this site

Digital Marketing

Virtually every business needs to reach a larger number of people than ever in order to ensure its own long-term viability. As such, the demand for marketing professionals – in particular, digital marketing experts – is greater than ever. 

Business majors with experience in digital marketing can provide a plethora of benefits to companies both large and small. These businesses often need a combination of search engine, email, and social media marketing strategies (along with other nuanced approaches) in order to reach their target audiences. Whether these audiences are local or international, many of the same broader tenets still apply.

Ultimately, marketing majors are going to continue to be necessary in an ever-increasing world of digital impressions. As such, pursuing a marketing career provides ample long-term job security with ample growth potential in wages/salary.

Economics

Large businesses and organizations have unique needs that aren’t necessarily found among smaller and more localized companies. Among them are the needs for financial planning, research, and economic analysis – without an understanding or broader plan for these situations, these businesses can easily falter.

This is why a degree in economics is inherently valued over the long-term. While many think of economists as being college professors, the reality is that economists work in a variety of business-related fields. Some of the most common occupations include financial planners, portfolio managers, investment bankers and real estate managers. 

Given the sheer versatility of this degree program and broader career field, the long-term benefits associated with a background in economics should be abundantly clear.

Accounting

Numbers, data, and financial regulations: all of these elements are crucial day-to-day concerns for most businesses. The need for these services isn’t going anywhere, which is why students seeking a career in accounting have much to gain over the long-term. 

There are a wide variety of occupations in business that can be obtained with an accounting degree and background. Prominent examples include bookkeepers, internal auditors, tax managers, financial analysts, and cost accountants. These roles might not sound glamorous, but they pay decent salaries and generally provide a guarantee of long-term job security within the industry.

An accounting degree can also be easily pursued via online instruction or at a traditional university, making it an in-demand career field that can begin providing benefits from day one. 

Human Resources

The need for employees who can manage other employees is greater than ever. The role of human resources is vast and helps ensure smooth day-to-day operations of key corporate functions. From meeting payroll to handling inter-department disputes, HR professionals have a variety of versatile job functions that makes this career choice a safe bet in terms of long-term job security.

HR professionals can major in human resources directly, or take a less direct path (such as with a business administration degree). Ultimately, human resources professionals may have specific focuses for one or more companies, including training and development, recruitment, and compensation. 

With HR job demand growing slightly faster than the national average,  well-paying salaries, and an ability to work in virtually every field of business, the benefits to such a career path should be obvious.

Budget Analysis

The long-term ramifications of poor budgetary planning can result in even the most profitable of endeavors ultimately failing. This is why many large businesses pay such close attention to the advice of budget professionals. In particular, budget analysts provide comprehensive guidance to companies seeking to navigate uncertain economic times.

Maintaining corporate finances is the top priority of budget analysts. In addition, these individuals verify that companies are adhering to practical, ethical, and legal regulations regarding taxes, expenditures and other spending-related measures. Budget analysts generally have an educational background in mathematics, accounting or finance: as such, their average salary is anywhere from 2 to 2.5x the national average.

To be successful in this career field, a solid understanding of math – coupled with strong analytical knowledge and an understanding of economic trends – is required.

For those seeking a combination of comfortable working conditions, great salaries, and meaningful long-term job security, these business careers are among the most reliable. While each is innately different, they do all have one thing in common: they are all great choices for those who want the most benefit from their career paths. 

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