Types of Degrees Majors Are Getting

The following table lists how many business economics graduations there were for each degree level during the last year for which data was available.

Education Level	Number of Grads
Bachelor’s Degree	4,908
Master’s Degree	71
Undergraduate Certificate	61
Associate Degree	46
Basic Certificate	23
Doctor’s Degree	21
Graduate Certificate	21

What Majors Need to Know

O*NET surveyed people in occupations related to business economics and asked them what knowledge areas, skills, and abilities were important for their jobs. The responses were rated on a scale of 1 to 5 with 5 being most important.

Knowledge Areas for Business Economics Majors

According to O*NET survey takers, a major in business economics should prepare you for careers in which you will need to be knowledgeable in the following areas:

• Mathematics - Knowledge of arithmetic, algebra, geometry, calculus, statistics, and their applications.
• English Language - Knowledge of the structure and content of the English language including the meaning and spelling of words, rules of composition, and grammar.
• Economics and Accounting - Knowledge of economic and accounting principles and practices, the financial markets, banking and the analysis and reporting of financial data.
• Education and Training - Knowledge of principles and methods for curriculum and training design, teaching and instruction for individuals and groups, and the measurement of training effects.
• Computers and Electronics - Knowledge of circuit boards, processors, chips, electronic equipment, and computer hardware and software, including applications and programming.

Skills for Business Economics Majors

The following list of skills has been highlighted as some of the most essential for careers related to business economics:

• Reading Comprehension - Understanding written sentences and paragraphs in work related documents.
• Critical Thinking - Using logic and reasoning to identify the strengths and weaknesses of alternative solutions, conclusions or approaches to problems.
• Writing - Communicating effectively in writing as appropriate for the needs of the audience.
• Active Listening - Giving full attention to what other people are saying, taking time to understand the points being made, asking questions as appropriate, and not interrupting at inappropriate times.
• Speaking - Talking to others to convey information effectively.

Abilities for Business Economics Majors

As you progress with your business economics degree, there are several abilities you should pick up that will help you in whatever related career you choose. These abilities include:

• Written Comprehension - The ability to read and understand information and ideas presented in writing.
• Written Expression - The ability to communicate information and ideas in writing so others will understand.
• Oral Expression - The ability to communicate information and ideas in speaking so others will understand.
• Inductive Reasoning - The ability to combine pieces of information to form general rules or conclusions (includes finding a relationship among seemingly unrelated events).
• Deductive Reasoning - The ability to apply general rules to specific problems to produce answers that make sense.

What Can You Do With a Major?

People with a business economics degree often go into the following careers:

Job Title	Job Growth Rate	Median Salary
Economics Professors	10.9%	$101,480
Economists	6.1%	$104,340
Environmental Economists	6.1%	$104,340

Who Is Getting a Bachelor’s Degree in ?

This major tends to be male dominated. About 67% of recent graduates are men.

Racial-Ethnic Diversity

At the countrywide level, the racial-ethnic distribution of business economics majors is as follows:

Race/Ethnicity	Number of Grads
Asian	562
Black or African American	246
Hispanic or Latino	514
White	2,661
International Students	659
Other Races/Ethnicities	266

Geographic Diversity

Americans aren’t the only ones with an interest in Business Economics. About 13.4% of those with this major are international students.

How Much Do Majors Make?

Salaries According to BLS

Average salaries range from $63,240 to $117,180 (25th to 75th percentile) for careers related to business economics. This range includes all degree levels, so you may expect those with a more advanced degree to make more while those with less advanced degrees will typically make less.

To put that into context, according to BLS data from the first quarter of 2020, the typical high school graduate makes between $30,000 and $57,900 a year (25th through 75th percentile). The average person with a bachelor’s degree (any field) makes between $45,600 and $99,000. Advanced degree holders make the most with salaries between $55,600 and $125,400.

Amount of Education Required for Careers Related to

Some degrees associated with business economics may require an advanced degree, while others may not even require a bachelor’s in the field. Whatever the case may be, pursuing more education usually means that more career options will be available to you.

Find out what the typical degree level is for business economics careers below.

Education Level	Percentage of Workers
Bachelor’s Degree	13.6%
Post-Baccalaureate Certificate - awarded for completion of an organized program of study; designed for people who have completed a Baccalaureate degree but do not meet the requirements of academic degrees carrying the title of Master.	1.0%
Master’s Degree	26.1%
Post-Master’s Certificate - awarded for completion of an organized program of study; designed for people who have completed a Master’s degree but do not meet the requirements of academic degrees at the doctoral level.	5.5%
First Professional Degree - awarded for completion of a program that: requires at least 2 years of college work before entrance into the program, includes a total of at least 6 academic years of work to complete, and provides all remaining academic requirements to begin practice in a profession.	1.0%
Doctoral Degree	52.3%
Post-Doctoral Training	2.0%

Online Programs

The following table lists the number of programs by degree level, along with how many schools offered online courses in the field.

Degree Level	Colleges Offering Programs	Colleges Offering Online Classes
Certificate (Less Than 1 Year)	0	0
Certificate (1-2 years)	3	0
Certificate (2-4 Years)	0	0
Associate’s Degree	2	0
Bachelor’s Degree	6	1
Post-Baccalaureate	0	0
Master’s Degree	29	1
Post-Master’s	3	0
Doctor’s Degree (Research)	12	0
Doctor’s Degree (Professional Practice)	0	0
Doctor’s Degree (Other)	0	0

Is a Degree in Worth It?

The median salary for a business economics grad is $116,020 per year. This is based on the weighted average of the most common careers associated with the major.

This is 191% more than the average salary for an individual holding a high school degree. This adds up to a gain of about $1,522,400 after 20 years!

References

*The racial-ethnic minorities count is calculated by taking the total number of students and subtracting white students, international students, and students whose race/ethnicity was unknown. This number is then divided by the total number of students at the school to obtain the racial-ethnic minorities percentage.

• College Factual
• College Scorecard
• National Center for Education Statistics
• O*NET Online
• U.S. Bureau of Labor Statistics
• Usual Weekly Earnings of Wage and Salary Workers First Quarter 2020

More about our data sources and methodologies.