Agricultural Economics

Types of Degrees Agricultural Economics Majors Are Getting

The following table lists how many agricultural economics and business graduations there were in 2020-2021 for each degree level.

Education Level	Number of Grads
Master’s Degree	326
Doctor’s Degree	76
Graduate Certificate	8

What Agricultural Economics Majors Need to Know

O*NET surveyed people in occupations related to agricultural business and asked them what knowledge areas, skills, and abilities were important for their jobs. The responses were rated on a scale of 1 to 5 with 5 being most important.

Knowledge Areas for Agricultural Business Majors

Agricultural Business majors often go into careers in which the following knowledge areas are important:

• English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
• Administration and Management - Knowledge of business and management principles involved in strategic planning, resource allocation, human resources modeling, leadership technique, production methods, and coordination of people and resources.
• Customer and Personal Service - Knowledge of principles and processes for providing customer and personal services. This includes customer needs assessment, meeting quality standards for services, and evaluation of customer satisfaction.
• Education and Training - Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
• Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.

Skills for Agricultural Business Majors

When studying agricultural business, you’ll learn many skills that will help you be successful in a wide range of jobs - even those that do not require a degree in the field. The following is a list of some of the most common skills needed for careers associated with this major:

• Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
• Speaking - Talking to others to convey information effectively.
• Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
• Judgment and Decision Making - Considering the relative costs and benefits of potential actions to choose the most appropriate one.
• Reading Comprehension - Understanding written sentences and paragraphs in work related documents.

Abilities for Agricultural Business Majors

As you progress with your agricultural business degree, there are several abilities you should pick up that will help you in whatever related career you choose. These abilities include:

• Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
• Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
• Problem Sensitivity - The ability to tell when something is wrong or is likely to go wrong. It does not involve solving the problem, only recognizing there is a problem.
• Written Comprehension - The ability to read and understand information and ideas presented in writing.
• Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.

What Can You Do With a Agricultural Economics Major?

People with a agricultural business degree often go into the following careers:

Job Title	Job Growth Rate	Median Salary
Agricultural Sciences Professors	7.9%	$84,640
Computer User Support Specialists	11.3%	$50,980
Economists	6.1%	$104,340
Environmental Economists	6.1%	$104,340
Farm and Home Management Advisors	7.7%	$49,840
First-Line Supervisors of Agricultural Crop and Horticultural Workers	2.1%	$46,960
First-Line Supervisors of Animal Husbandry and Animal Care Workers	2.1%	$46,960

Who Is Getting a Master’s Degree in Agricultural Economics?

According to recent stats this major attracts about equal numbers of men and women. Roughly 48% of the graduates are women, and 52% are men.

Racial-Ethnic Diversity

At the countrywide level, the racial-ethnic distribution of agricultural business majors is as follows:

Race/Ethnicity	Number of Grads
Asian	4
Black or African American	4
Hispanic or Latino	19
White	194
International Students	94
Other Races/Ethnicities	11

Geographic Diversity

Agricultural Business appeals to people across the globe. About 28.8% of those with this major are international students. The most popular countries for students from outside the country are:

• China
• South Korea
• India
• Canada
• Nepal

How Much Do Agricultural Economics Majors Make?

Master’s Degree Starting Salary

The median starting salary of students who graduated in 2017-2019 with a master’s degree in agricultural business was $60,918 per year. These stats come from the U.S. Department of Education. During this timeframe, most salaries fell between $50,067 (25th percentile) and $68,485 (75th percentile).

We don’t know for sure if all of these people took jobs related to agricultural business so take that into consideration.

Salaries According to BLS

Average salaries range from $50,790 to $79,940 (25th to 75th percentile) for careers related to agricultural business. This range includes all degree levels, so the salary for a person with just a bachelor’s degree may be a little less and the one for a person with an advanced degree may be a little more.

To put that into context, according to BLS data from the first quarter of 2020, the typical high school graduate makes between $30,000 and $57,900 a year (25th through 75th percentile). The average person with a bachelor’s degree (any field) makes between $45,600 and $99,000. Advanced degree holders make the most with salaries between $55,600 and $125,400.

Amount of Education Required for Careers Related to Agricultural Economics

Some degrees associated with agricultural business may require an advanced degree, while others may not even require a bachelor’s in the field. In general, the more advanced your degree the more career options will open up to you. However, there is significant time and money that needs to be invested into your education so weigh the pros and cons.

Find out what the typical degree level is for agricultural business careers below.

Education Level	Percentage of Workers
Less than a High School Diploma	3.8%
High School Diploma - or the equivalent (for example, GED)	15.8%
Post-Secondary Certificate - awarded for training completed after high school (for example, in agriculture or natural resources, computer services, personal or culinary services, engineering technologies, healthcare, construction trades, mechanic and repair technologies, or precision production)	8.3%
Some College Courses	9.1%
Associate’s Degree (or other 2-year degree)	8.4%
Bachelor’s Degree	27.7%
Post-Baccalaureate Certificate - awarded for completion of an organized program of study; designed for people who have completed a Baccalaureate degree but do not meet the requirements of academic degrees carrying the title of Master.	0.6%
Master’s Degree	10.3%
Post-Master’s Certificate - awarded for completion of an organized program of study; designed for people who have completed a Master’s degree but do not meet the requirements of academic degrees at the doctoral level.	1.2%
First Professional Degree - awarded for completion of a program that: requires at least 2 years of college work before entrance into the program, includes a total of at least 6 academic years of work to complete, and provides all remaining academic requirements to begin practice in a profession.	0.3%
Doctoral Degree	12.9%
Post-Doctoral Training	2.1%

Online Agricultural Economics Programs

In 2020-2021, 354 schools offered a agricultural business program of some type. The following table lists the number of programs by degree level, along with how many schools offered online courses in the field.

Degree Level	Colleges Offering Programs	Colleges Offering Online Classes
Certificate (Less Than 1 Year)	0	0
Certificate (1-2 years)	87	2
Certificate (2-4 Years)	9	0
Associate’s Degree	239	13
Bachelor’s Degree	5	1
Post-Baccalaureate	0	0
Master’s Degree	57	5
Post-Master’s	4	0
Doctor’s Degree (Research)	27	0
Doctor’s Degree (Professional Practice)	0	0
Doctor’s Degree (Other)	0	0

Is a Degree in Agricultural Economics Worth It?

The median salary for a agricultural business grad is $55,050 per year. This is based on the weighted average of the most common careers associated with the major.

This is 38% more than the average salary for an individual holding a high school degree. This adds up to a gain of about $303,000 after 20 years!

Majors Related to Agricultural Economics

You may also be interested in one of the following majors related to agricultural business.

Major	Number of Grads
Plant Sciences	912
Food Science Technology	692
Animal Science	596
General Agriculture	353
Agricultural Public Services	179
Agricultural Production	163
Soil Sciences	158
Other Agriculture	104
International Agriculture	46
Horticulture	15
Animal Services	8
Food Processing	2
Agricultural Mechanization	0
Veterinary/Animal Health Technologies/Technicians	0

References

*The racial-ethnic minorities count is calculated by taking the total number of students and subtracting white students, international students, and students whose race/ethnicity was unknown. This number is then divided by the total number of students at the school to obtain the racial-ethnic minorities percentage.

• College Factual
• College Scorecard
• National Center for Education Statistics
• O*NET Online
• U.S. Bureau of Labor Statistics
• Usual Weekly Earnings of Wage and Salary Workers First Quarter 2020
• Image Credit: By {} under License

More about our data sources and methodologies.