According to projections by the Bureau of Labor Statistics, the business and financial sector has a strong economic future ahead. The BLS expects job growth of 5 percent in business- and finance-related fields for 2019 through 2029, outpacing the national average rate of 4 percent. Professionals in these fields also earn above-average salaries, with a median annual wage of $72,250 as of mid-2020. For individuals who hold advanced degrees like master’s degrees, the earning potential is even higher.
For instance, in 2018, US News reported an astounding gap of more than 38% between the starting salaries for MBA holders ($78,332) versus holders of bachelor’s degrees ($56,720). In 2021, US News reported that the average starting salary for an MBA holder was close to $88,000 — roughly $10,000 higher than the $78,332 figure it reported only a few years earlier. And while a starting MBA salary in 2021 was approximately $87,970, the average salary was closer to $176,000 with bonuses factored in. Numbers like these show the incredible potential for advancement that the business field offers, particularly for professionals who have earned their graduate or postgraduate degrees.
Considering such statistics, it’s no surprise that business is the number one most popular college major in the United States, accounting for nearly one fifth (19 percent) of the bachelor’s degrees awarded for the 2017-2018 academic year. You’re likely aware that many business majors go on to pursue a Master of Business Administration (MBA) — but what you may not realize is how many other degree options also exist for graduate students who are interested in business. So what types of business degrees are there?
In this article, we’ll explore five of the best business master’s degrees for 2021-2022 and beyond, including not only MBAs, but also MHAs, MS-CSIAs, and some other advanced degree types you might not be aware of. No matter which option you ultimately decide to pursue, any master’s degree on this list can help you build a stronger career in business — it’s all a matter of identifying the program that best aligns with your unique passions and talents.
What Kind of Degrees Are There for Business Related Careers?
Have you ever found yourself wondering, “What kind of business degrees are out there for graduate students?” If so, you’re in the right place. Keep reading for an overview of some of the most in-demand business-related master’s degrees for 2021 and beyond. Depending on your interests, skills, and professional goals, you might be an excellent fit for one (or more) of the degree programs discussed below.
5 Useful Degrees for Business in 2021 and Beyond
Have you ever found yourself wondering, “What kind of business degrees are out there for graduate students?” If so, you’re in the right place. Keep reading for an overview of some of the most in-demand business-related master’s degrees for 2021 and beyond. Depending on your interests, skills, and professional goals, you might be an excellent fit for one (or more) of the degree programs discussed below.
#1: Master of Accounting (MAcc)
The Master of Accounting (MAcc) at National University teaches students the skills they need for a variety of business-related careers in accounting, such as conducting financial analyses, preparing tax and financial documents, and researching topics in accounting. The MAcc at NU is a flexible program with two distinct tracks: one designed for students with non-accounting backgrounds (such as History or English majors), and another designed for students with bachelor’s degrees in accounting.
- Example Courses — Financial Accounting, Auditing Procedures, Accounting Ethics, Data Analytics
- Example Careers — Corporate Accounting, Internal Auditing, Public Accounting
#2: Master of Science in Cybersecurity (MS-CSIA)
In an increasingly interconnected world where there are projected to be more than 75 billion internet-connected devices by the year 2025, the importance of cybersecurity grows by the day — a reality reflected in the above-average salaries of cybersecurity professionals, who earn an average of $77,465 per year according to figures from GlassDoor. Learn more about whether a cybersecurity degree is worth pursuing in 2021, then explore the Master of Science in Cybersecurity (MS-CSIA) at National University.
- Example Courses — Wireless and Mobile Security, Net Defense and Cloud Security, Ethical Hacking
- Example Careers — Information Security Analysis, Software Security Engineering, Penetration Testing
#3: Master of Science in Data Science
Data scientist was declared “the sexiest job of the twenty-first century” by Harvard Business Review in 2012. That statement still holds up today when you consider BLS data, which reports average earnings of over $126,000 and job growth of 15 percent (compared to an average rate of four percent) expected over the coming decade. In the Master of Science in Data Science program at NU, students are challenged to use state-of-the-art analytical software to maintain databases, design data marts, construct data files, and more. Students will also explore areas like machine learning and analytic programming.
- Example Courses — Data Mining Techniques, Analytic Models and Data Systems, Advanced Analytic Applications
- Example Careers — Business Analytics, Database Analytics, Health Analytics
#4: Master of Healthcare Administration (MHA)
The Master of Healthcare Administration (MHA) program at National University teaches organizational leadership skills and prepares students for complex managerial roles in healthcare. The MHA degree is ideal for students who want to explore the intersections between business and healthcare — and how they can be used to improve health outcomes and increase individuals’ or communities’ access to medical services.
As an MHA student at National University, you will learn not only about the financial aspects of healthcare like accounting and investment strategies, but also about other business-centric topics like IT, regulatory compliance, and hospital management. Related programs that may also interest you include the Master of Public Health (MPH) and the Master of Science in Health Informatics (MSHI).
- Example Courses — U.S. Healthcare System, Health Organization Management, Epidemiology, Health Economics, Healthcare Leadership
- Example Careers — Hospital Administration, Long-Term Care Administration, Health Services Management/Medical Services Management
#5: Master of Business Administration (MBA)
A Master of Business Administration, or MBA, is one of the most traditional and popular types of master’s degrees for business students — and with good reason. Not only can an MBA dramatically enhance your earning potential as discussed above, it can also help qualify you for a wider and more interesting range of professional roles, enabling you to pursue more challenging opportunities and potentially transition into an executive leadership role like CEO, CFO, or COO.
The MBA program at National University can be completed 100% online and covers a comprehensive range of subjects, including but not limited to management and leadership theory; accounting, financial theory, and statistics; sustainability, social responsibility, and corporate ethics; systems and procedures relating to supply chains, marketing, and distribution; and crucial business skills like critical thinking, quantitative analysis, and problem-solving.
Students can complete the MBA in as little as 12 months, opening up a fast track to career growth in a wide range of fields. Related programs that may interest you include the MS in Organizational Leadership (MSOL), MA in Human Resource Management (MAHRM), or MS in Marketing.
- Example Courses — Statistics for Business, Info and Supply Chain Systems, Managerial Accounting, Global Business
- Example Careers — Financial Advising, Investment Banking, IT Management, HR Management, Business Consulting
Explore Online and On-Campus Business Degree Options at National University
These are just a few of the exciting business related programs you can explore at National University. Founded by Veterans in 1971, we offer dozens of accredited master’s degree programs, including online degree options for most fields of study. Whether you’re a graduate transfer student, a U.S. military Veteran, a working professional who’s ready to make a career change — or all three — National University provides a flexible framework to pursue your goals. And with our financial aid packages, fast-paced course structure, and committed network of resources for military students, your master’s or post-grad business degree has never been more attainable.
Find out how a master’s degree can help supplement your career in business. Contact our admissions office today to request more information about our MBA program, MAcc program, MS-CSIA program, or other online and on-campus programs for graduate students.
Additional Sources
https://www.rasmussen.edu/degrees/business/blog/types-of-business-degrees/
https://www.bls.gov/ooh/business-and-financial/home.htm
https://www.bestcolleges.com/blog/most-popular-college-majors/
https://www.usnews.com/education/best-graduate-schools/top-business-schools/applying/articles/2018-03-21/mbas-offer-more-advantages-than-undergrad-business-majors
https://www.usnews.com/education/best-graduate-schools/top-business-schools/articles/mba-salary-jobs
https://www.glassdoor.com/Salaries/cyber-security-salary-SRCH_KO0,14.htm
https://www.bls.gov/ooh/computer-and-information-technology/computer-and-information-research-scientists.htm
https://onlinedegrees.sandiego.edu/best-jobs-in-cyber-security/
https://www.rasmussen.edu/degrees/health-sciences/blog/healthcare-administration-careers/
https://www.uopeople.edu/blog/the-10-best-jobs-for-mba-graduates/