Business, Management & Marketing
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|
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:
- 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:
- 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:
- 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:
Who Is Getting a Master’s Degree in Business, Management & Marketing?
At the countrywide level, the racial-ethnic distribution of business, management and marketing majors is as follows:
|Race/Ethnicity||Number of Grads|
|Black or African American||24,014|
|Hispanic or Latino||17,719|
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).
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.
Amount of Education Required for Careers Related to Business, Management & Marketing
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.
|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%|
|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%|
|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%|
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|
|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!
- 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 Amit Savargaonkar under License
More about our data sources and methodologies.