Business

Contains Stem Majors

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Total Degrees​
Awarded in 2023
829,210
declining 1.33%
Median In-State​
Public Tuition
$7,170
growing 1.41%
Median Out-of-State​
Private Tuition
$34,800
growing 3.36%
Average Wage
$109,808
growing 3.8%
People in Workforce
12.2M
growing 2.33%
Average Employee Age
44
growing 0.32%

About

In 2023, the locations with the highest concentration of Business degree recipients are New York, NY, Phoenix, AZ, and South Hooksett, NH. In 2023, the locations with a relatively high number of Business degree recipients are Rialto, CA, Ozark, MO, and King of Prussia, PA. The most common degree awarded to students studying Business is a bachelors degree.

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Institutions

Information about the types of higher education institutions that grant degrees in Business and the types of students that study this field. Southern New Hampshire University awards the most degrees in Business in the US, but American College of Financial Services and Cleary University have the highest percentage of degrees awarded in Business.

Tuition costs for Business majors are, on average, $7,170 for in-state public colleges, and $34,800 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 (1,044 total). The most common sector, by number of degrees awarded, is Public, 4-year or above (414,504 completions).

Institutions

Institution with the Most Degrees Awarded in Business (2023)
  1. Southern New Hampshire University
    14,001 degrees awarded
  2. University of Phoenix-Arizona
    13,316 degrees awarded
  3. Western Governors University
    11,239 degrees awarded

The most common sector, by number of degrees awarded in Business, is Public, 4-year or above (414,504 completions in 2023).

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

$7,170
Median In-State Public
$34,800
Median Out of State Private

Southern New Hampshire University has the most Business degree recipients, with 14,001 degrees awarded in 2023.

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

Highest Concentration Institution
  1. American College of Financial Services
    100%
  2. Cleary University
    100%
  3. Lake Forest Graduate School of Management
    100%

Out of all institutions that offer Business programs and have at least 5 graduates in those programs, American College of Financial Services has the highest percentage of degrees awarded in Business, with 100%.

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Degrees Awarded by County

Counties with the Most Degrees Awarded in Business
  1. Maricopa County, AZ
    31,986 degrees awarded
  2. Los Angeles County, CA
    28,190 degrees awarded
  3. Merrimack County, NH
    14,264 degrees awarded

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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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 $109,808 and the most common occupations are Accountants & auditors, Other managers, and Financial managers.

The industry that employs the most Business majors is uninformed, though the highest paying industry, by average wage, is Securities, commodities, funds, trusts & other financial investments.

Yearly Income for Common Jobs

$109,808
Average Wage in Workforce
± $788
3.8%
1 Year Growth
± 0.985%

The average salary for Business majors is $109,808 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

Highest Paying Pumas
  1. NYC-Manhattan Community District 7--Upper West Side PUMA, NY
    $251,097
  2. NYC-Manhattan Community Districts 1 & 2--Financial District & Greenwich Village PUMA, NY
    $240,250
  3. Nassau County (Northwest)--North Hempstead Town (North) PUMA, NY
    $239,902

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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Most Common

The most common occupations for 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, Physicians, and Nuclear medicine technologists and medical dosimetrists.

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Occupations by Share

12.2M
2023 Workforce
± 82,369
2.33%
1 Year Growth
± 0.936%

The number of Business graduates in the workforce has been growing at a rate of 2.33%, from 12M in 2022 to 12.2M in 2023.

The largest single share of Business graduates go on to work as Accountants & auditors (8.91%). 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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Most Common

The most common industries that employ Business majors, by number of employees, are uninformed, Elementary & secondary schools, and Computer Systems Design.

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Highest Paid

The highest paying industries of Business majors, by average wage, are Securities, commodities, funds, trusts & other financial investments, Oil & gas extraction, and Computer & peripheral equipment manufacturing.

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Industries by Share

12.2M
2023 Workforce
± 82,369
2.33%
1 Year Growth
± 0.936%

The number of Business graduates in the workforce has been growing at a rate of 2.33%, from 12M in 2022 to 12.2M in 2023.

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

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Specialty Locations

PUMAS with a relatively high number of Business majors
  1. Dallas City (Downtown)--North of I-30 PUMA, TX
    2.97
  2. NYC-Manhattan Community Districts 5 & 6--Midtown, East Midtown, & Flatiron PUMA, NY
    2.91
  3. Chicago City (North)--Lake View & Lincoln Park PUMA, IL
    2.91

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 for those who earn a degree in Business in the United States.

The average age of a person in the workforce with a degree in Business is 44.

The most common degree type these workers hold is a Bachelors Degree. Female employees are more likely to hold Business degrees, and White students are the most common race/ethnicty group awarded degrees in Business (410,237 students).

Workforce Age

44
Average Age in 2023
± 0.0906 Years
0.32%
1 Year Change
± 0.291%

This chart shows distribution of ages for employees with a degree in Business. The most common ages of employees with this major are 40 and 39 years old, which represent 2.68% and 2.6% 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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Sex Imbalance for Common Institutions

Female (50.5%)
Most Common Sex with a Degree in this Field

This chart shows the granted degrees by sex 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
    410,237 degrees awarded
  2. Hispanic or Latino
    130,165 degrees awarded
  3. Black or African American
    88,913 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 Sex

Most Common Race/Ethnicity and Sex Combination
  1. White Male
    121,845 degrees awarded
  2. White Female
    90,254 degrees awarded
  3. Hispanic or Latino Female
    29,882 degrees awarded

This chart illustrates the differences by sex 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 sex.

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Global Diversity

Most Common Countries of Origin
  1. India
    181,180 degree recipients
  2. Mexico
    159,478 degree recipients
  3. Philippines
    142,686 degree recipients
High Relative Number of Students
  1. Singapore
    2.55 times more than expected
  2. Zimbabwe
    2.52 times more than expected
  3. Denmark
    2.46 times more than expected

There are a relatively high number of people that were born in Singapore that hold Business degrees (2.55 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 (181,180 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 Reading Comprehension. The revealed comparative advantage (RCA) shows that Business majors need more than the average amount of Management of Financial Resources, Operations Analysis, and Systems Evaluation.

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 Management of Financial Resources is very distinctive for majors, but the Reading Comprehension, Speaking, and Active Listening are the three most important skills for people in the field.

Radar Distribution

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Bar Chart

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