Is a Business Degree Worth It?
Before investing in a business degree, you should consider what value such a degree has. A business degree has a lot to offer graduates in terms of industry insights, networking opportunities, valuable skills, hands-on experience, and expanded career opportunities.
This article will explore the value of a business degree so you can assess its worth concerning your personal and professional goals.
What is a ‘Business Degree’
A business degree is usually an honours-level qualification that takes 3 years to complete.
There is no actual single “Business Degree” per se. The term is more of an umbrella term that covers a broad spectrum of degrees. From a purely business focus to a business degree combined with another subject, and even an MBA.
With so many different business degrees from which to choose, students can always find a specialisation suited to their interests, priorities, and intended career path.
The Benefits of a Business Degree
The Tangible Benefits
- Knowledge of Business Processes
Studying for a business degree offers students insights into the functioning of businesses of all sizes, from budding startups to established multinational corporations. Universities usually incorporate real-world case studies and simulations in their curriculum. A ‘hands-on’ approach enhances learning and provides valuable experience in the current corporate landscape.
Students studying business can engage in networking opportunities with their peers, professors and industry professionals. Universities also host job fairs and events, with excellent opportunities to connect to potential employers. Student interactions with peers and staff aren't just about friendship and learning; they can also be the foundation for future business partnerships or startups.
A business degree develops a toolkit of skills that provides value across multiple industries. Students cultivate critical thinking and analytical skills, which are in demand in nearly every sector. Furthermore, the leadership and management lessons learned are applicable far beyond the confines of a boardroom. When faced with business challenges, students sharpen their problem-solving abilities, preparing them for diverse professional scenarios.
Historical data suggests that employed graduates are far more likely to earn more than employed non-graduates. For example, UK graduates in 2022 (without a postgraduate degree) earned a median annual salary of £11,500 more than non-graduates. Those with further qualifications (postgraduates) benefitted even more and earned £18,000 per year more than non-graduates.
The Intangible Benefits
A business degree offers students a window into many aspects of industry and business. For example, students often encounter industry-related ethical dilemmas or debate specific regulations within actual case studies relating to doing business ethically. This exposure often helps students to question their assumptions about ethics and ethical conduct and develop a deeper understanding of corporate social responsibility.
The journey through a business degree is as much about personal growth as it is about academic learning. Students hone essential life skills such as time management, teamwork, and adaptability. Moreover, the challenges encountered during coursework and group projects push students to evolve, fostering resilience and determination.
- Foundation for Life-long Learning
Graduating with a business degree lays a solid foundation for future endeavours. For many, it becomes the stepping stone to more specialised studies (e.g. an MBA) or pursuing other professional certifications. The versatility of a business degree ensures it remains a valuable asset throughout one's career.
Reflecting on the Value of a Business Degree
A business degree isn't just an academic endeavour - it's an investment in one's future. The many advantages it brings, both tangible and intangible, are highly valued in the open job market. Whichever business degree you choose will give you a foundation for lifelong learning, growth, and career development.
Be sure to check out our business degrees to explore different degree programmes and what they offer. In the continuously evolving landscape of global commerce, having a business degree sets graduates up for success - ready to build their careers and make their mark. Consider taking the first step today.