Is a business degree worth it?
From networking to unrelated to course work, here are the 17 answers to the question, “Is a business degree worth it?”
- A Degree is Your Gateway to Networking
- Know Yourself First Then Select a Career
- Base It On Your Field
- A Business Degree Stunts Creative Thought Process
- Should Be Based On the Individual’s Specific Goals
- Not Worth it if Looking for a Job
- Worth It If It’s an MBA
- Gives You More Flexibility
- Experience Comes from Hard Work
- It’s Not a Good Value for Money
- Eliminates the Possibility of Being Pigeonholed
- Better Advancement Opportunities
- A Business Degree Gives You a Solid Foundation
- Business Degrees Fail to Teach Essential Skills
- A Business Degree is Only as Good as a Person Using It
- Majority of Real Work is Unrelated to Course Work
- Depends On Your Career Goals
A Degree is Your Gateway to Networking
Business is something you can learn on your own, through a family business, or through education and schooling. However, there are reaping benefits for those who receive a degree in business.One of the biggest takeaways from earning a business degree is the networking opportunities you gain through alumni. At most universities, alumni will do whatever they can to help recent graduates find a job, figure out their pathway, and support them. This is a network of opportunities that many people thrive to have but struggle to grow. A recent graduate needs to take advantage of the alumni in the business program and network their way to finding their dream job.Having a business degree will help you learn and analyze more about business deals and plans, but networking is priceless.
Sacha Ferrandi, Founder & Principal, Source Capital
Know Yourself First Then Select a Career
For most that I know, a business degree has done them little good. But they are mostly entrepreneurs. If you want to get a job at a place of employment, the employer will probably require a business degree even though the majority of what you’ll learn on the job won’t be related to the academic theory learned in college. Unless you know specifically what you want to do under the umbrella of business the courses you have will be very generic and pertain little to what you’ll end up doing or trained to do.The key is know first what you want to do then, and ONLY then, seek training, education. Just getting a degree because you need a college degree, according to popular notion, is like saying you need a drill when what you actually need is a hole. Know yourself first (talents, gifts, abilities, personality, learning style, values, etc.) then select a career making sure you work in a culture where you’ll thrive.
Base It On Your Field
A business degree is worth it depending on the field you are looking to join. While some jobs may require an MBA in business, determining which those are is vital early on. Otherwise, it wouldn’t be worth the added college debt someone accrues in additional schooling. If possible to still grow within the company, sometimes working up the ranks will prove much more beneficial for a candidate.
A Business Degree Stunts Creative Thought Process
Almost one out of five undergraduate degrees awarded in a year are to business majors. However, these degrees are less challenging and do not provide ample opportunities to polish your reading, writing, and research skills. Their assignments are not curated in a way that helps improve critical and logical thinking skills and prepares the students for the practical world. The results of Collegiate Learning Assessment Plus show that students who major in business make fewer gains in analytical reasoning, critical thinking, writing, and communication than those majoring in scientific fields.
As the base level of skill of a business undergraduate is almost similar to a diploma holder, these undergraduates mostly need to supplement their degree with other graduate degrees to increase their employability leading to increased expenditure in form of time and finances than people with more specialized degrees.
Should Be Based On the Individual’s Specific Goals
A business degree can provide individuals with the skills and knowledge necessary to succeed in a number of different career paths. The degree can also lead to higher earning potential and job security. However, the cost of a business degree can be a significant investment.
For some individuals, a business degree may be worth the investment if it leads to their desired career path and increased earning potential. For others, the degree may not be necessary if they are already employed in a successful business. The decision whether or not to pursue a business degree should be based on the individual’s specific goals and circumstances.
Not Worth It If Looking for a Job
Business degrees are not worth it if you are looking for a job in the same field. If you are interested in business, then you have to be able to cut through the hype and know what you’re doing. There’s no point in getting a business degree if you have no idea how to do that.
If you’re looking for a job at a company that makes products or provides services, then it’s unlikely that your degree will help much with hiring decisions. Most companies don’t look at whether or not someone has a degree when they’re deciding whether or not to hire them—they look at their experience and qualifications. The only exception is for positions where higher education is required by law (such as doctors).
Worth It If It’s an MBA
A business degree is worth it if it’s an MBA. Unfortunately, a bachelor’s degree in business doesn’t really get you more than a low-level, entry position typically in banking, realty or insurance. While there are exceptions, most people who get a BBA quickly realize there is little they can do with this degree unless they return to school. For anyone interested in business, they should go ahead and pursue an MBA. This will open more doors and ensure they have the credentials to rise in their fields.
Yes: Gives You More Flexibility
An overall business degree educates you about a variety of business-related topics. You end up having flexibility in the positions they give you as a result. Employers will find you more enticing because you can do multiple responsibilities. They are free to switch you between roles at every time to fill in any gaps. A general business degree has equipped you with the skills necessary to undertake a variety of tasks, making you an important member of the team.
Experience Comes from Hard Work
Entrepreneurs are not made out of degrees but out of years of experience and innovative thinking. To think that the field of business is shaped through a business degree is wrong because many of the famous and most successful businessmen in history do not have any concrete degree or certificate in the field of business.
What has made them such impactful Businessman is their experience and innovative thinking which they have gained by putting their full efforts into making the business successful. It is important to understand that the business world is more based on practical skills rather than theoretical knowledge.
It’s Not a Good Value for Money
I decided to get my business degree after working for a few years in the corporate world. I thought it would give me the skills and knowledge I needed to move up in the company. But after completing my degree, I found that I didn’t have any more skills or knowledge than I did before. In fact, I actually had less because I was now burdened with student loan debt. So, in my opinion, a business degree is not worth it.
Eliminates the Possibility of Being Pigeonholed
While not necessary for entrepreneurial success, a business degree allows you to pursue multiple career paths. You’re not pigeonholed with this type of degree. You can use your degree to become an accountant, financial analyst, an account executive, project manager, and more. A business degree increases your job prospects if you’re open to a variety of opportunities.
Provides Better Advancement Opportunities
Every employer seeks a candidate with the practical knowledge and cutting-edge tactics necessary to promote the firm. The business would favor the person with a degree if there were a choice between someone with a business degree and little to no experience and the other with experience alone.
A person with a business degree will be more versed in the most recent events in the industry. They can hold that higher position because they have the knowledge and awareness to do so, which can be challenging for someone without a degree. Having a business degree can be your chance to gain that head start in your profession if you want to advance without starting at the entry level.
A Business Degree Gives You a Solid Foundation
A business degree is worth your time and money for various reasons, but overall, it gives you a solid foundation to build your career or launch your own company. While we hear about many success stories of businesspeople who only relied on hard work and perseverance when they were starting, I believe that getting a business degree is still important.You’ll learn specialized industry skills and knowledge, including transferrable soft skills, when you study business formally. When you’re properly equipped, you can get started with your career on the right foot, and you can easily gain momentum.There’s also a high demand for business graduates. A degree gives you a competitive advantage over other candidates.
Business Degrees Fail to Teach Essential Skills
Aside from the expense of a business degree and the ensuing student debt crisis in the US, graduates lack crucial skills needed in the business world. It is an obvious assumption that all the necessary skills are learned while studying for a business degree, but they are not.
Graduates enter the business world lacking problem-solving, communication, teamwork, and analytics skills.
Business degrees place a lot of focus on finance and accounting and neglect developing critical thinking skills. Many graduates lack public speaking skills, and their writing proficiency is poor.Many companies these days look for intellectual flexibility in potential employees. People who stand out from the crown are not necessarily those with degrees but a broad and diverse knowledge base and strong creative thinking and problem-solving capabilities.
A Business Degree is Only as Good as a Person Using It
I personally feel that a business degree is only as good as the person using it. In my own experience, my success in business has come from my own personality, attitude, and approach to my work. You can have the most prestigious degree in the world, but if you do not get along with people, you won’t get very far in your endeavors. Alternatively, you could take the money you would spend on a business degree and instead put it into actually starting a business.
Depends On Your Career Goals
It depends on the individual and their career goals. A business degree can be extremely beneficial if a person is looking to pursue a career in management, finance, or accounting. It also provides students with knowledge of important topics such as economics, marketing, operations management, business law and ethics. On the other hand, if someone is looking to pursue a career in a field that does not require such coursework, then a business degree may not be worth it. It is important to weigh the career goals and decide if a business degree would be beneficial or not.
A business degree has done little good for the majority of people I know. However, the majority of them are business owners. If you want to work in a business, the employer will most likely require a business degree, even if the majority of what you will learn on the job is unrelated to the academic theory learned in college. Unless you know exactly what you want to do under the umbrella of “business” the courses you have will be very generic and will have little relevance and what you will end up doing or being trained to do.
The key is to know what you want to do first, and then and only then, seek training and education. According to popular belief, getting a degree simply because you need it is equivalent to saying you need a drill when what you really need is a hole. Allowing the tool to be the primary determiner is putting the cart before the horse.
Know yourself first then choose a career in which you will thrive.
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