Business

Contains Stem Majors

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Total Degrees
Awarded in 2021

860,674

growing 2.45%

Median In-State
Public Tuition

$7,070

growing 0.0425%

Median Out-of-State
Private Tuition

$32,954

growing 1.82%

Average Wage

$98,335

growing 5.33%

People in Workforce

11.5M

growing 3.28%

Average Employee Age

43.9

growing 0.324%

About

In 2021, the locations with the highest concentration of Business degree recipients are New York, NY, Tempe, AZ, and Millcreek, UT. The most common degree awarded to students studying Business is a bachelors degree.

Photo by Flazingo Photos

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 (484613) awards the most degrees in Business in the US, but California Institute of Advanced Management and University of Wisconsin-Parkside Flex have the highest percentage of degrees awarded in Business.

Tuition costs for Business majors are, on average, $7,070 for in-state public colleges, and $32,954 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 (1,042 total). The most common sector, by number of degrees awarded, is Public, 4-year or above (420,104 completions).

Institutions

Institution with the Most Degrees Awarded in Business

The most common sector, by number of degrees awarded in Business, is Public, 4-year or above (420,104 completions in 2021).

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

Tuition Costs for Common Institutions

$7,070

Median In-State Public

$32,954

Median Out of State Private

University of Phoenix-Arizona (484613) has the most Business degree recipients, with 16,009 degrees awarded in 2021.

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

Specialized Colleges

Highest Concentration Institution

Out of all institutions that offer Business programs and have at least 5 graduates in those programs, California Institute of Advanced Management has the highest percentage of degrees awarded in Business, with 100%.

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.

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.

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 $98,335 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 Securities, commodities, funds, trusts & other financial investments.

Yearly Income for Common Jobs

$98,335

Average Wage in Workforce

± $725

5.33%

1 Year Growth

± 0.997%

The average salary for Business majors is $98,335 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.

Highest Paying Locations

Highest Paying Pumas

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.

Most Common

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

Most Specialized

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

Highest Paid

The highest paid occupations by median income for Business majors are Surgeons, Physicians, and Chief executives & legislators.

Occupations by Share

11.5M

2021 Workforce

± 80,140

3.28%

1 Year Growth

± 0.959%

The number of Business graduates in the workforce has been growing at a rate of 3.28%, from 11.2M in 2020 to 11.5M in 2021.

The largest single share of Business graduates go on to work as Accountants & auditors (9.56%). This chart shows the various jobs filled by those with a major in Business by share of the total number of graduates.

Most Common

The most common industries that employ Business majors, by number of employees, are Elementary & secondary schools, Accounting, tax preparation, bookkeeping & payroll services, and Banking & related activities.

Highest Paid

The highest paying industries of Business majors, by average wage, are Securities, commodities, funds, trusts & other financial investments, Internet publishing, broadcasting & web search portals, and Oil & gas extraction.

Industries by Share

11.5M

2021 Workforce

± 80,140

3.28%

1 Year Growth

± 0.959%

The number of Business graduates in the workforce has been growing at a rate of 3.28%, from 11.2M in 2020 to 11.5M in 2021.

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.

Specialty Locations

PUMAS with a relatively high number of Business majors

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

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 43.9.

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 (432,799 students).

Workforce Age

43.9

Average Age in 2021

± 0.0922 Years

0.324%

1 Year Change

± 0.298%

This chart shows distribution of ages for employees with a degree in Business. The most common ages of employees with this major are 36 and 40 years old, which represent 2.63% and 2.62% of the population, respectively.

Degrees Awarded

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

Workforce Degrees

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

Sex Imbalance for Common Institutions

Female (51%)

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.

Race & Ethnicity by Degrees Awarded

Most Common Race or Ethnicity

White
432,799 degrees awarded
Hispanic or Latino
129,509 degrees awarded
Black or African American
96,218 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.

Race & Ethnicity by Sex

Most Common Race/Ethnicity and Sex Combination

White Male
130,163 degrees awarded
White Female
98,510 degrees awarded
Hispanic or Latino Female
30,989 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.

Global Diversity

Most Common Countries of Origin

India
169,218 degree recipients
Philippines
141,318 degree recipients
Mexico
139,522 degree recipients

High Relative Number of Students

Mongolia
2.88 times more than expected
Zimbabwe
2.63 times more than expected
Indonesia
2.49 times more than expected

There are a relatively high number of people that were born in Mongolia that hold Business degrees (2.88 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 (169,218 degree recipients).

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, Negotiation, Persuasion, Mathematics, Management of Personnel Resources, Speaking, Monitoring, Critical Thinking, Active Listening, Social Perceptiveness, Coordination, Judgment and Decision Making, Service Orientation, Systems Evaluation, Time Management, Management of Material Resources, Reading Comprehension, Systems Analysis, Writing, Active Learning, Learning Strategies, Complex Problem Solving, Instructing, Operations Analysis, Programming, Technology Design, Quality Control Analysis, Operation Monitoring, Operation and Control, Troubleshooting, Science, Repairing, Equipment Selection, Equipment Maintenance, and Installation.

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, Active Listening, Speaking, Critical Thinking, Writing, Judgment and Decision Making, Monitoring, Complex Problem Solving, Active Learning, Social Perceptiveness, Coordination, Time Management, Persuasion, Mathematics, Negotiation, Systems Analysis, Service Orientation, Systems Evaluation, Instructing, Learning Strategies, Management of Personnel Resources, Management of Financial Resources, Operations Analysis, Management of Material Resources, Operation Monitoring, Quality Control Analysis, Programming, Science, Technology Design, Operation and Control, Troubleshooting, Equipment Selection, Repairing, Equipment Maintenance, and Installation are the three most important skills for people in the field.