Business

Contains Stem Majors

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Total Degrees​
Awarded in 2017

808,303

growing 1.03%

Median In-State​
Public Tuition

$6,670

growing 3.09%

Median Out-of-State​
Private Tuition

$29,736

growing 3.25%

Average Wage

$90,364

growing 2.64%

People in Workforce

11.2M

growing 3.01%

Average Employee Age

43.7

declining 0.00684%

About

The locations with the highest concentration of Business degree recipients are New York, NY, Tempe, AZ, and Chicago, IL. The locations with a relatively high number of Business degree recipients are . The most common degree awarded to students studying Business is a bachelors degree.

Institutions

Information about the types of higher education institutions that grant degrees in Business and the types of students that study this field. University of Phoenix-Arizona awards the most degrees in Business in the US, but University of Phoenix-North Carolina and Lake Forest Graduate School of Management have the highest percentage of degrees awarded in Business.

Tuition costs for Business majors are, on average, $6,670 for in-state public colleges, and $29,736 for out of state private colleges.

The most common sector, by number of institutions, that offers Business programs are Private not-for-profit, 4-year or above institutions (1,090 total). The most common sector, by number of degrees awarded, is Public, 4-year or above (355,465 completions).

Institutions

The most common sector, by number of degrees awarded in Business, is Public, 4-year or above (355,465 completions).

The following chart shows the share of universities that offer Business programs, by the total number of completions, colored and grouped by their sector.

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Tuition Costs for Common Institutions

$6,670

Median In-State Public

$29,736

Median Out of State Private

University of Phoenix-Arizona has the most Business degree recipients, with 14,720 degrees awarded in 2017.

The following bar chart shows the state tuition for the top 5 institutions with the most degrees awarded in Business.

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Specialized Colleges

Out of all institutions that offer Business programs and have at least 5 graduates in those programs, University of Phoenix-North Carolina and Lake Forest Graduate School of Management have the highest percentage of degrees awarded in Business, with 100% and 100%, respectively.

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Degrees Awarded by County

Counties with the Most Degrees Awarded in Business

This map shows the counties in the United States colored by the highest number of degrees awarded in Business by year.

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Growth in Awarded Degrees

Counties with the Fastest Growing Number of Degrees Awarded

This map shows the counties in the United States colored by the highest growth in degrees awarded for Business.

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Employment

Information on the businesses and industries that employ Business graduates and on wages and locations for those in the field.

The average salary for Business majors is $90,364 and the most common occupations are Accountants & auditors, Other managers, and Financial managers.

The industry that employs the most Business majors is Elementary & secondary schools, though the highest paying industry, by average wage, is Oil & gas extraction.

Wages

Yearly Income for Common Jobs

$90,364

Average Wage in Workforce

± $682

2.64%

1 Year Growth

± 1.04%

The average salary for Business majors is $90,364 and the most common occupations are Accountants & auditors, Other managers, and Financial managers.

This chart shows the average annual salaries of the most common occupations for Business majors.

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Highest Paying Locations

This map shows the public use micro areas (PUMAs) in the United States colored by the average salary of Business majors.

Note that the census collects information tied to where people live, not where they work. It is possible that Business majors live and work in the same place, but it is also possible that they live and work in two different places.

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Occupations

Most Common

The most common occupations Business majors, by number of employees, are Accountants & auditors, Other managers, and Financial managers.

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Most Specialized

Compared to other majors, there are an unusually high number of Business majors working as Accountants & auditors, Financial examiners, and Financial analysts.

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Highest Paid

The highest paid occupations by median income for Business majors are Surgeons, Cardiovascular technologists and technicians, and Physicians.

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Occupations by Share

11.2M

2018 Workforce

± 79,128

3.01%

1 Year Growth

± 0.975%

The number of Business graduates in the workforce has been growing at a rate of 3.01%, from 10.9M in 2017 to 11.2M in 2018.

The largest single share of Business graduates go on to work as Accountants & auditors (10.3%). This chart shows the various jobs filled by those with a major in Business by share of the total number of graduates.

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Industries

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Industries by Share

11.2M

2018 Workforce

± 79,128

3.01%

1 Year Growth

± 0.975%

The number of Business graduates in the workforce has been growing at a rate of 3.01%, from 10.9M in 2017 to 11.2M in 2018.

The industry which employs the most Business graduates by share is Elementary & secondary schools, followed by Accounting, tax preparation, bookkeeping & payroll services. This visualization shows the industries that hire those who major in Business.

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Specialty Locations

This map shows the public use micro areas (PUMAs) in the United States where there are a relatively high population of Business majors.

Note that the census collects information tied to where people live, not where they work. It is possible that Business majors live and work in the same place, but it is also possible that they live and work in two different places.

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Diversity

Demographic information on those who earn a degree in Business in the US. The average age of a person in the workforce with a degree in Business is 43.7, and the most common degree type these workers hold is a Bachelors Degree. Female employees are more likely to hold Business degrees, and White students earn the majority (420,302) of the degrees.

Workforce Age

43.7

Average Age in 2018

± 0.0927 Years

0.00684%

1 Year Change

± 0.302%

This chart shows distribution of ages for employees with a degree in Business. The most common ages of employees with this major are 48 and 36 years old, which represent 2.69% and 2.67% of the population, respectively.

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Degrees Awarded

The most common degree types awarded to students graduating in Business are Bachelors Degree, Masters Degree, and Associates Degree.

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Workforce Degrees

The most common degree types held by the working population in Business are Bachelors Degree, Masters Degree, and Professional degree.

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Gender Imbalance for Common Institutions

Female (50.7%)

Most Common Gender with a Degree in this Field

This chart shows the granted degrees by gender at the 5 institutions that graduate the most students in Business.

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Race & Ethnicity by Degrees Awarded

Most Common Race or Ethnicity

  1. White

    420,302 degrees awarded

  2. Hispanic or Latino

    101,993 degrees awarded

  3. Black or African American

    93,280 degrees awarded

This chart shows the number of degrees awarded in Business for each race & ethnicity. White students earned the largest share of the degrees with this major.

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Race & Ethnicity by Gender

Most Common Race/Ethnicity and Gender Combination

  1. White Male

    130,268 degrees awarded

  2. White Female

    101,693 degrees awarded

  3. Hispanic or Latino Female

    25,537 degrees awarded

This chart illustrates the differences by gender for each race & ethnicity of Bachelors Degree recipients in Business. White Male students, who earn most of the degrees in this field, are the most common combination of race/ethnicity and gender.

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Global Diversity

Most Common Countries of Origin

  1. India

    170,115 degree recipients

  2. Philippines

    134,920 degree recipients

  3. Mexico

    131,608 degree recipients

High Relative Number of Students

  1. Mongolia

    3.79 times more than expected

  2. Switzerland

    2.96 times more than expected

  3. Paraguay

    2.87 times more than expected

There are a relatively high number of people that were born in Mongolia that hold Business degrees (3.79 times more than expected), and the most common country of origin by total numbers for non-US students earning a degree in this field is India (170,115 degree recipients).

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Skills

Data on the critical and distinctive skills necessary for those working in the Business field from the Bureau of Labor Statistics. Business majors need many skills, but most especially Speaking. The revealed comparative advantage (RCA) shows that Business majors need more than the average amount of Programming, Mathematics, and Management of Financial Resources.

These two visualizations, one a radial chart and one a bar chart, show the same information, a rating of how necessary the following skills are for Business majors. Toggle between "value" and "RCA" to see the absolute rating of that skill (value) and the revealed comparative advantage (RCA), or how much greater or lesser that skill's rating is than the average. The longer the bar or the closer the line comes to the circumference of the circle, the more important that skill is. The importance of Programming is very distinctive for majors, but the Speaking, Reading Comprehension, and Writing are the three most important skills for people in the field.

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Bar Chart

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