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Business, Management & Marketing Major

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Business, Management & Marketing

$69,480 Median Salary

Types of Degrees Business, Management & Marketing Majors Are Getting

The following table lists how many business, management and marketing graduations there were in 2018-2019 for each degree level.

Education Level Number of Grads
Master’s Degree 200,915
Graduate Certificate 12,183
Doctor’s Degree 3,675

What Business, Management & Marketing Majors Need to Know

In an O*NET survey, business, management and marketing majors were asked to rate what knowledge areas, skills, and abilities were important in their occupations. These answers were weighted on a scale of 1 to 5 with 5 being the most important.

Knowledge Areas for Business, Management & Marketing Majors

This major prepares you for careers in which these knowledge areas are important:

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  • English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
  • 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.
  • 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.
  • Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
  • Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.

Skills for Business, Management & Marketing Majors

When studying business, management and marketing, 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:

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  • 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.
  • Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
  • Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
  • Writing - Communicating effectively in writing as appropriate for the needs of the audience.

Abilities for Business, Management & Marketing Majors

Some of the most crucial abilities to master while a business, management and marketing student include the following:

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  • Oral Comprehension - The ability to listen to and understand information and ideas presented through spoken words and sentences.
  • Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
  • Written Comprehension - The ability to read and understand information and ideas presented in writing.
  • Written Expression - The ability to communicate information and ideas in writing so others will understand.
  • Speech Clarity - The ability to speak clearly so others can understand you.

What Can You Do With a Business, Management & Marketing Major?

Below is a list of occupations associated with business, management and marketing:

Job Title Job Growth Rate Median Salary
Accountants 10.0% $70,500
Actuaries 22.5% $102,880
Administrative Services Managers 10.1% $96,180
Advertising and Promotions Managers 5.4% $117,130
Agents and Business Managers of Artists, Performers, and Athletes 4.7% $66,040
Appraisers, Real Estate 14.4% $54,980
Assessors 14.4% $54,980
Auditors 10.0% $70,500
Brownfield Redevelopment Specialists and Site Managers 8.0% $107,480
Budget Analysts 6.5% $76,220
Business Professors 18.0% $83,960
Clinical Research Coordinators 9.9% $123,860
Compensation and Benefits Managers 5.1% $121,010
Compensation, Benefits, and Job Analysis Specialists 8.4% $63,000
Compliance Managers 8.0% $107,480
Computer and Information Systems Managers 12.0% $142,530
Construction Managers 11.1% $93,370
Copy Writers 7.6% $62,170
Cost Estimators 10.5% $64,040
Credit Analysts 8.3% $71,520
Credit Counselors 13.8% $45,180
Demonstrators and Product Promoters 6.5% $28,960
Economics Professors 10.9% $101,480
Economists 6.1% $104,340
Energy Brokers 9.7% $54,550
Environmental Economists 6.1% $104,340
Financial Analysts 10.8% $85,660
Financial Examiners 9.7% $80,180
Financial Managers, Branch or Department 18.7% $127,990
Financial Quantitative Analysts 9.6% $70,280
First-Line Supervisors of Non-Retail Sales Workers 4.9% $73,390
First-Line Supervisors of Retail Sales Workers 3.8% $39,630
Food Service Managers 9.0% $54,240
Fraud Examiners, Investigators and Analysts 9.6% $70,280
Gaming Managers 2.2% $74,700
General and Operations Managers 9.1% $100,930
Green Marketers 5.4% $117,130
Human Resources Managers 9.0% $113,300
Human Resources Specialists 7.1% $60,880
Insurance Appraisers, Auto Damage 5.1% $62,520
Insurance Sales Agents 9.9% $50,600
Investment Fund Managers 8.0% $107,480
Investment Underwriters 9.6% $70,280
Loan Counselors 13.8% $45,180
Loan Officers 11.4% $63,040
Lodging Managers 4.0% $53,390
Logisticians 6.9% $74,600
Logistics Analysts 6.9% $74,600
Logistics Engineers 6.9% $74,600
Logistics Managers 6.8% $94,730
Loss Prevention Managers 8.0% $107,480
Management Analysts 14.3% $83,610
Market Research Analysts and Marketing Specialists 23.2% $63,120
Marketing Managers 10.1% $134,290
Mathematical Science Professors 9.4% $73,230
Meeting, Convention, and Event Planners 10.9% $49,370
Natural Sciences Managers 9.9% $123,860
Operations Research Analysts 27.5% $83,390
Parts Salespersons 5.0% $30,430
Personal Financial Advisors 14.9% $88,890
Property, Real Estate, and Community Association Managers 10.3% $58,340
Purchasing Managers 5.4% $118,940
Real Estate Brokers 4.9% $58,210
Real Estate Sales Agents 5.8% $48,690
Regulatory Affairs Managers 8.0% $107,480
Risk Management Specialists 9.6% $70,280
Sales Agents, Financial Services 6.2% $64,120
Sales Agents, Securities and Commodities 6.2% $64,120
Sales and Related Workers 10.6% $33,220
Sales Managers 7.5% $124,220
Sales Representatives, Wholesale and Manufacturing, Except Technical and Scientific Products 5.2% $58,510
Sales Representatives, Wholesale and Manufacturing, Technical and Scientific Products 5.2% $79,680
Securities and Commodities Traders 6.2% $64,120
Security Managers 8.0% $107,480
Social and Community Service Managers 18.0% $65,320
Solar Sales Representatives and Assessors 5.2% $79,680
Statisticians 33.9% $87,780
Storage and Distribution Managers 6.8% $94,730
Supply Chain Managers 8.0% $107,480
Survey Researchers 2.1% $57,700
Tax Preparers 10.7% $39,390
Technical Writers 10.9% $71,850
Training and Development Managers 10.4% $111,340
Training and Development Specialists 11.5% $60,870
Transportation Managers 6.8% $94,730
Treasurers and Controllers 18.7% $127,990
Water Resource Specialists 9.9% $123,860
Wind Energy Operations Managers 8.0% $107,480
Wind Energy Project Managers 8.0% $107,480

Who Is Getting a Master’s Degree in Business, Management & Marketing?

200,915 Master's Degrees Annually
48% Percent Women
30% Percent Racial-Ethnic Minorities
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 business, management and marketing majors is as follows:

Racial-Ethnic Diversity of Business, Management & Marketing Students with Master's Degrees
Race/Ethnicity Number of Grads
Asian 13,428
Black or African American 24,014
Hispanic or Latino 17,719
White 91,826
International Students 34,975
Other Races/Ethnicities 18,953

Geographic Diversity

Americans aren’t the only ones with an interest in Business, Management & Marketing. About 17.4% of those with this major are international students.

How Much Do Business, Management & Marketing Majors Make?

Master’s Degree Starting Salary

According to 2017-2018 data from the U.S. Department of Education, students who graduated with a master’s degree in business, management and marketing have a median salary of $59,500 during the early years of their career. During this timeframe, most salaries fell between $51,500 (25th percentile) and $70,400 (75th percentile).

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One thing to note here is that not all of these people may be working in careers related to business, management and marketing.

Salaries According to BLS

Average salaries range from $49,820 to $94,390 (25th to 75th percentile) for careers related to business, management and marketing. This range includes all degree levels, so you may expect those with a more advanced degree to make more while those with less advanced degrees will typically make less.

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.

Median Salary for a Business, Management & Marketing Major  ( 49820 to 94390 )
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Median Salary for a High School Graduate  ( 30000 to 57900 )
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Median Salary for a Bachelor's Degree Holder  ( 45600 to 99000 )
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Median Salary for an Advanced Degree Holder  ( 55600 to 125400 )
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Some degrees associated with business, management and marketing may require an advanced degree, while others may not even require a bachelor’s in the field. Whatever the case may be, pursuing more education usually means that more career options will be available to you.

How much schooling do you really need to compete in today’s job market? People currently working in careers related to business, management and marketing have obtained the following education levels.

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Education Level Percentage of Workers
Less than a High School Diploma 1.8%
High School Diploma - or the equivalent (for example, GED) 20.3%
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) 4.5%
Some College Courses 9.7%
Associate’s Degree (or other 2-year degree) 9.7%
Bachelor’s Degree 37.3%
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. 3.1%
Master’s Degree 8.9%
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. 0.6%
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. 0.6%
Doctoral Degree 2.9%
Post-Doctoral Training 0.3%

Online Business, Management & Marketing Programs

In the 2018-2019 academic year, 3,207 schools offered some type of business, management and marketing program. 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) 4,564 1,122
Certificate (1-2 years) 3,189 709
Certificate (2-4 Years) 81 13
Associate’s Degree 6,080 1,665
Bachelor’s Degree 1,416 537
Post-Baccalaureate 4,564 1,122
Master’s Degree 4,325 1,727
Post-Master’s 260 0
Doctor’s Degree (Research) 413 79
Doctor’s Degree (Professional Practice) 14 4
Doctor’s Degree (Other) 3 1

Is a Degree in Business, Management & Marketing Worth It?

The median salary for a business, management and marketing grad is $69,480 per year. This is based on the weighted average of the most common careers associated with the major.

This is 74% more than the average salary for an individual holding a high school degree. This adds up to a gain of about $591,600 after 20 years!

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References

More about our data sources and methodologies.

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