Types of Degrees Business Economics Majors Are Getting
The following table lists how many business economics graduations there were in 2018-2019 for each degree level.
|Education Level||Number of Grads|
What Business Economics Majors Need to Know
People with careers related to business economics were asked what knowledge areas, skills, and abilities were important for their jobs. They weighted these areas on a scale of 1 to 5 with 5 being the highest.
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 Business Economics Major?
Below is a list of occupations associated with business economics:
|Job Title||Job Growth Rate||Median Salary|
Who Is Getting a Bachelor’s Degree in Business Economics?
At the countrywide level, the racial-ethnic distribution of business economics majors is as follows:
|Race/Ethnicity||Number of Grads|
|Black or African American||267|
|Hispanic or Latino||674|
Americans aren’t the only ones with an interest in Business Economics. About 14.9% of those with this major are international students.
How Much Do Business Economics Majors Make?
Salaries According to BLS
Business Economics majors often go into careers where salaries can range from $63,240 to $117,180 (25th to 75th percentile). 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 Business Economics
Some degrees associated with business economics may require an advanced degree, while others may not even require a bachelor’s in the field. In general, the more advanced your degree the more career options will open up to you. However, there is significant time and money that needs to be invested into your education so weigh the pros and cons.
How much schooling do you really need to compete in today’s job market? People currently working in careers related to business economics have obtained the following education levels.
|Education Level||Percentage of Workers|
|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%|
|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%|
Online Business Economics Programs
In 2018-2019, 267 schools offered a business economics program of some type. 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)||2||0|
|Certificate (1-2 years)||2||0|
|Certificate (2-4 Years)||1||0|
|Doctor’s Degree (Research)||16||0|
|Doctor’s Degree (Professional Practice)||0||0|
|Doctor’s Degree (Other)||0||0|
Is a Degree in Business Economics 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!
Explore Major by State
District of Columbia
*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.
You have goals. Southern New Hampshire University can help you get there. Whether you need a bachelor's degree to get into a career or want a master's degree to move up in your current career, SNHU has an online program for you. Find your degree from over 200 online programs.Visit School