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What Business Major are You Interested In?
There are many kinds of business professionals because the field is so varied. While every job is different, most relate to analyzing and improving operations and performance for companies and organizations. Work opportunities are diverse and available in numerous environments.
Business professionals can be found working for various companies and organizations across almost every industry, all of which depend on and utilize their expertise. Because graduates possess the appropriate knowledge and skills to be successful in most positions, it’s common to pursue work that aligns with their personal interests and/or passions.
Some of the most prominent career paths for business professionals include:
- Accounting
- Business Development
- Economics
- Sales
- Finance
- Marketing
- Global Business
- Human Resources
- Operations
- Management
- Entrepreneurship
Industry needs change regularly, making it difficult to pinpoint exactly what the daily tasks and responsibilities of business professionals will be. Job descriptions can also vary drastically due to company size and employer preference, even among positions with the same titles. To ensure graduates are prepared to thrive in any setting, academic programs often teach students skills in a variety of subjects including analytics, leadership, and research. The knowledge gained can then be applied to the chosen setting.
Individuals who can think critically and enjoy solving problems are generally the best suited to become business professionals. The most successful people in this career field also possess excellent skills in leadership, interpersonal communication, and social perceptiveness.
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Business Education in Delaware
Are you considering the pursuit of a business degree in Delaware? Business is one of the most popular academic majors in the United States, largely because the knowledge and skills obtained are easily transferred to almost any industry. Graduates tend to be well regarded in the job market and may find it easier to gain employment than those in other fields. To accommodate demand, there are numerous colleges and universities throughout the nation offering comprehensive programs on the subject at every academic level. Curriculums vary, but most focus on developing student abilities in management, finance, leadership, and marketing. Knowledge in these areas is extremely valuable no matter what career path you are on.
Most business professionals require, at minimum, a bachelor’s degree in order to obtain entry-level employment. Prospective students could, however, choose to enroll in associate degree programs and transfer credits to other higher education institutions later. Graduate opportunities are also available at the master’s and doctoral levels, opening doors to additional occupations and advancement options. In most cases, business professionals earn a bachelor’s degree as well as a master’s degree to be more marketable. Each degree has its own benefits and drawbacks, making it essential to know your academic and career goals prior to enrollment.
It’s also worth noting that many colleges and universities offer students the option to select concentrations. These help focus study and make it easier to specialize in a particular aspect of business. Identifying one or two primary areas of interest before enrolling may make it easier to select a concentration when the time arrives.
According to the U.S. Bureau of Labor Statistics, employment in business and financial occupations is expected to increase by 5% from 2019 to 2029. This it is faster than the average for all occupations and will add approximately 476,200 new positions in the field. There are several factors impacting this increase, including globalization, economic growth, and the use of market research to understand customer demand. It is important to realize, however, that overall job outlook will vary depending on your specific area of interest. For most common business positions, prospects are comparable to most other professions.
Professional and business services are the third highest ranking industry in Delaware, accounting for $8.5 billion in revenue each year. Notably, the number one industry is finance and insurance, which is closely related to and often overlaps with business. While the state is relatively small, there are still plenty of employment opportunities in this field. According to the U.S. Bureau of Labor Statistics, business and financial operations occupations accounted for 30,980 of the state’s jobs in 2020. The annual mean wage for business professionals in California was $81,730 that same year, which is significantly higher than the national median.
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In Delaware and elsewhere, there is high demand for well trained and competent business professionals because companies and organizations tend to benefit from hiring such individuals. As a result, it’s not difficult to find business degree programs, both on-campus and online. While students can choose to enroll with colleges and universities in nearly any part of the world, those seeking employment in Delaware after graduation should strongly consider attending a local institution. Schools located in the state are most familiar with what employers in the area are looking for and will ensure students receive the training, skills, and knowledge necessary to be successful.
Associate Degree in Business (AS)
Associate degrees in business provide a foundational introduction to the field and cover several relevant topics broadly. They are most appropriate for individuals seeking entry-level employment or planning to transfer into bachelor’s degree programs afterward. While many jobs in this field require a bachelor’s degree, there are some employment opportunities available. Graduates are likely to qualify for work as administrative assistants, executive assistants, food service managers, bookkeepers, office managers, human resources employees, and office clerks.
Most of associate degree programs in business consist of 60 credit hours of coursework and take full-time students approximately two years to complete. Common instructional topics include finance, human resources management, and customer service.
Those interested in advancing their careers beyond entry-level positions will need to attain more advanced degrees. To this end, credits earned from accredited institutions can be transferred to other four-year colleges and universities.
Bachelor's Degree in Business (BS)
According to the U.S. Bureau of Labor Statistics (BLS), the minimum education requirement for most business and finance occupations is a bachelor’s degree. Students in these programs receive training in most major disciplines within the field and are generally qualified to work as financial analysts, human resource specialists, and management consultants after graduation. The majority of advanced supervisory positions, however, are likely to require years of professional experience, on-the-job training, and/or additional education.
Most bachelor degree programs in business consist of 120 credit hours of coursework and take full-time students approximately four years to complete. Class requirements will vary but marketing, finance, and accounting are some of the most common topics covered. Instructors also help students develop business-related skills that can be applied in almost every employment setting.
A bachelor’s degree will also be necessary for those planning to pursue graduate degrees. Additionally, candidates will need a minimum GPA and GRE scores to apply.
Master's Degree in Business (MS or MC)
Master’s degrees in business are ideal for professionals seeking high-level leadership positions with more responsibilities and higher pay. Those with this level of education are generally perceived as experts in management and leadership, which tend to be highly valued by many potential employers. This makes master’s degree graduates very competitive in the job market.
One alternative to a master’s degree in business is a master’s in business administration (MBA). Business administration places more instructional emphasis on planning and execution than a standard business program does. While both options prepare graduates for supervisory roles, earning an MBA is more likely to lead to jobs as training and development managers, top executives, public relations and fundraising managers, human resource managers, information technology managers, financial managers, industrial production managers, and management analysts.
The time needed to complete master’s degree programs varies depending on the number of credit hours necessary. Most require 30 to 60 credit hours of coursework, which full-time students can finish within about two years.
PhD Degree in Business (PhD)
The highest level of education available in business is the doctoral degree. While fairly few jobs require it, professionals interested in research and independent study can benefit greatly from enrolling in one of these programs. Graduates generally have the choice to work in research or academia.
Doctorates in business typically consist of between 90 and 120 credit hours and take full-time students four to seven years to complete. Most require submitting a written dissertation for approval prior to graduation.
Another option is a doctorate in business administration (DBA) or management. DBAs are designed to enhance theoretical knowledge in business and business management. This type of education can lead to upper management and executive positions such as top executive, postsecondary business professor, postsecondary, education administrator, and economist. Most programs require at least six years to complete.
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Become a Business Development Specialist in Delaware
The steps you take to become a business professional in Delaware will greatly depend upon your ultimate career goals. Knowing your specific career aspirations early can make it easier to select a degree program. While most knowledge and skills learned will be applicable to numerous industries, identifying your area(s) of greatest interest can ensure you enroll in at the most appropriate college or university.
If, however, you are unsure what your preferred industry is, you will have plenty of opportunities to adjust after enrollment. Most business degree programs cover general topics during the first two years of instruction, providing options to select a specialization later. Choosing a concentration will tailor the remainder of your program to focus on a subsection or field in business. This allows you to explore an area of interest on a much deeper level.
Some of the most common options include:
- Finance
- Sales
- Human Resources
- Management
- Marketing
- Global Business
- Entrepreneurship
After completing the education requirements necessary to qualify for your intended career, it may be beneficial to obtain one or more certifications and/or licensures. It’s rare for jobs in business to require formal licensure, but additional credentials often increase marketability, improve job prospects, and result in higher earning potential.
While there is no general business credential needed to enter the field, some employers do require specific certifications. As a result, it’s important to check position qualifications carefully before applying. In most cases, business professionals are free to pursue credentialing opportunities that appeal to their interests or career paths.
If you are planning to open your own businesses in Delaware, you will need to submit a certificate of incorporation to the Delaware Division of Corporations. Obtaining a Certificate of Status or a Certificate of Good Standing from the state will be necessary to open accounts with financial institutions. You may also be responsible for filing an annual report and paying franchise taxes.
Careers for Business Graduates
Individuals who earn business degrees in Delaware will be qualified to apply for a wide variety of positions.
Salaries and daily duties will vary, but some of the most common career options include:
- Vice President of Operations
- Operations Manager
- Business Development Director
- Human Resources (HR) Specialist
- Team Leader
- Administrative Assistant
- Account Manager
- Information Technology (IT) Director
- Marketing Manager
- Office Manager
- Data Analyst
- Financial / Business Analyst
- Project Manager
- Supply Chain Specialist / Manager
- Public Relations Specialist / Manager
- Content Marketing Specialist / Manager
- Entrepreneur
- Chief Executive Officer (CEO)
- C-Suite Professional
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- Project Manager
Project managers are responsible for project oversight for the companies or organizations that employ them. They often establish project goals and timelines, as well as manage budgets and resources. These professionals also dispense important information to other teams involved in the process. According to PayScale, project managers make an average base salary of $75,000 per year. - Administrative Assistant
Administrative assistants are responsible for providing administrative support to employees and management at the companies or organizations they work for. They are often asked to perform a wide variety of tasks including filing paperwork, sorting files, conducting researching, and completing personal errands for other individuals in the workplace. These professionals also take on secretarial duties, such as data entry, billing, inventory, correspondence, and record-keeping. According to PayScale, administrative assistants make an average base hourly rate of $16.25, or approximately $40,100 per year. - Marketing Manager
Marketing managers are responsible for the development of various advertising and merchandising sales campaigns for the businesses or organizations they work for. They often oversee a single product or brand, though they can oversee an entire company. These professionals also regularly collaborate with product managers and monitor program performance to develop market research studies. According to PayScale, marketing managers make an average base salary of $66,600 per year. - Human Resources (HR) Specialist
Human resources managers are responsible for developing and maintaining employee policies, procedures, and compliance for the companies or organizations they work for. They are extremely familiar with employment regulations at the state and federal levels, often ensuring all related activities are legal. These professionals are also in charge of employee benefits and initiative program implementation and management. According to PayScale, human resources managers make an average base salary of $68,700 per year. - Supply Chain Specialist / Manager
Supply chain managers are responsible for company or organization franchise supply chain oversight. They often mediate between sales and customer service teams to develop and maintain necessary logistical and procedural policies. These professionals also manage inventories based on demand. According to PayScale, supply chain managers make an average base salary of $83,950 per year. - Financial / Business Analyst
Financial analysts are responsible for the study of marketplace trends, demographics, and microeconomic factors related to the corporations and businesses they work for. They maintain a clear understanding of resource investments and provide growth projections over time. These professionals also provide advice regarding bonds and splitting stock. According to PayScale, financial analysts make an average base salary of $61,950 per year.