How Much Can You Earn with a Business Degree?
The average income for a business graduate in full-time employment 15 months after graduating is £24,974. What any individual business graduate earns will vary based on industry, profession, and seniority.
The degree and modules that students choose to study impact the opportunities that they have when leaving university. For example, “Business with Finance” graduates will have different opportunities to “Business with marketing” graduates due to the difference in the skillsets with each degree.
Earning potential is a major factor in deciding what career path to take as well as what education and further training you wish to engage with. Below we discuss the income opportunities provided by different graduate work options, so you can make the best choices for your course, job, and career.
It is important to note that any business degree is valuable for a graduate. While average salaries are different for different niches and roles, all graduates can achieve success with hard work and dedication - it’s not all about the money.
Top Jobs By Business Degree Subject
Economics
(Average Earnings 15 months after graduation: £30,445)
- Finance and investment analysts and advisers
- Chartered and certified accountants
- Management consultants and business analysts
- Actuaries, economists and statisticians
- Data analysts
Finance and Accountancy
(Average Earnings 15 months after graduation: Between £24,136 and £26,090)
- Chartered and certified accountants
- Finance and investment analysts and advisers
- Taxation experts
- Management consultants and business analysts
- Actuaries, economists and statisticians
Business and Management Studies
(Average Earnings 15 months after graduation: Between £24,712 and £27,660)
- Marketing associate professionals
- Human resources and industrial relations officers
- Business sales executives
- Management consultants and business analysts
- Chartered and certified accountants
Hospitality, Leisure, Tourism and Transport
(Average Earnings 15 months after graduation: £21,770)
- Events managers and organisers
- Marketing associate professionals
- Human resources and industrial relations officers
- Business sales executives
- Restaurant and catering establishment managers and proprietors
Marketing
(Average Earnings 15 months after graduation: £23,492)
- Marketing associate professionals
- Public relations professionals
- Business sales executives
- Sales accounts and business development managers
- Marketing and commercial managers
While the average earnings mentioned above are those reported 15 months after graduation, it's worth noting that salaries can increase significantly with experience. Further training, additional qualifications, and on-the-job achievements can all lead to better earnings.
As you progress in your chosen career, seeking new challenges and expanding your skill set are important factors in achieving salary growth and career advancement.
The Highest Earning Jobs for Business Graduates
- Public relations professionals (£66,510 average, per annum)
- Public relations professionals manage and enhance the public image of individuals, companies, or organisations. They develop media relations strategies, craft press releases, and coordinate events to engage audiences and boost brand awareness.
- Taxation experts specialise in understanding and applying tax laws. They advise individuals and businesses on tax strategies, ensuring compliance while optimising tax liabilities.
- Sales accounts and business development managers (£47,393)
- These professionals are responsible for driving business growth by acquiring new clients or selling additional products to existing ones. They strategise, negotiate, and foster relationships to increase revenue.
- Management consultants and business analysts (£43,888)
- These professionals help organisations improve their efficiency and profitability by analysing existing organisational challenges and developing strategies for improvement.
- Chartered and certified accountants (£43,661)
- Chartered accountants manage financial records, audit accounts, and provide financial advice. Their expertise ensures the financial integrity of a business or organisation.
- Actuaries, economists and statisticians (£43,283)
- These specialists use mathematical and statistical techniques to address financial and economic challenges, ranging from insurance risks to economic forecasts.
- Finance and investment analysts and advisers (£37,915)
- These analysts assess the financial performance of investments, including stocks, bonds, and other securities. They guide businesses and individuals in making investment decisions.
- Business sales executives (£34,527)
- Sales executives in the business sector are responsible for managing sales operations, which includes establishing sales targets, analysing data, and creating training programs for sales representatives.
- Data analysts collect, process, and interpret complex datasets, helping businesses to make more informed decisions by identifying trends and patterns.
- Marketing associate professionals (£29,162)
- These professionals develop and implement marketing campaigns, track sales data, and maintain promotional materials inventory.
The above positions showcase the variety of roles and incomes awaiting business graduates. While there are higher-paid jobs out there (CEO, CFO, COO), those positions are outliers - usually occupied by extremely experienced professionals at the pinnacle of their careers.
Some jobs listed require more experience than others, but all are viable options for a fresh graduate within at least 15 months of graduation provided they’ve met their industry certification criteria. The list also shows average earnings for each job - a new hire without much on-the-job experience will likely start on a lower salary than the average.
The diversity of roles represented in this list highlights the robust flexibility and value that a business degree has to offer. Each role carries its unique challenges and rewards suiting a wide range of different people with different interests, work-life goals, and priorities.
Useful Sources and Links
- Luminate, Prospects, Official Report on HESA Graduate Outcomes, (2023) “ What do business and administrative studies graduates do?”, pp15-20, Accessed 8 August 2023.
- Income data for each entry under the heading were obtained from the Office for National Statistics (2022), released 26 October 2022, ONS website, statistical bulletin, “Figure 10: Annual full-time gross pay by occupation” Accessed 8 August 2023.
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HESA Graduate Outcomes 2020/21: Summary Statistics.