Is a business degree worth it?

Is a business degree worth it?

A business degree is a worthwhile pursuit. Salary for business majors range from $60-$80k with a wide variety of jobs available. Getting a business degree is considered one of the easier degrees to obtain.

Imagine, finding a degree that is worth your college tuition. You can make good money after graduating and have plenty of job offers.

Business is one of the most flexible degrees.

Luckily for you, I’ll show you if a business degree is worth your time and money. I’ll show you if it’s hard or easy to obtain a business degree and how much you could pay for college. You’ll be one step closer to figuring out if business is right for you.

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Is a business degree worth it?

A business degree is worth the cost of going to college. The majority of business degree holders get jobs ranging from $60k-$80k per year, about median household income. There are many different job opportunities you can obtain with a business degree while the degree is not difficult to get.

Business degrees are actually useful, because they can help you obtain a high paying job. You will also have the basic knowledge of running a business if you ever decide to start your own. People with a business degree tend to earn more than those without any degree.

It is easy to say a business degree isn’t useful. After all, there is no job position called ‘business.’ However, a business degree will give you a strong foundation for entering the business world.

Is getting a degree in business hard or easy?

A business degree is considered to be one of the easier degrees to obtain. The subject matter isn’t considered as challenging as STEM courses and easily relates to the real world. A business degree does not require complex math and is one of the most popular majors offered at university.

To be fair, something being difficult is subjective to the individual. Some people will easily relate to economics while others struggle to understand supply and demand. However, a business degree is one of the most sought after degrees with a high graduation rate.

My personal experience is that business degrees are not difficult to obtain. I did not get a business degree myself, but I knew plenty of business majors.

The business majors I knew had the easiest time in college with the most free time. One individual was able to put all of his classes on a Tuesday, so he had Wednesday through Monday off.

A business degree does not require a lot of math, which most people find difficult. You will be required to have basic math courses in college, but nothing too advanced.

The majority of business courses are not hard. Showing up for class, reading relevant chapters, and doing your homework on time will greatly reduce the difficulty of classes.

Does a business degree pay well?

Most jobs requiring a business degree are considered to provide a good salary. The average income of a person with a business degree is between $60,000 and $80,000. According to the 2020 U.S. Census, the median household income was $67,521. Statistically, a salary of $75k results in optimal happiness.

Most jobs that require a business degree are going to pay you between $60k and $80k per year. Therefore, your one salary will be close to the U.S. median household income of $67k. Having a working spouse would most likely push you over the median household income.

$75k has been determined to be an optimal household income. Pay increases over $75k results in minimal happiness increases. However, pay increases below $75k substantially increase your overall happiness levels.

The basic thought is that life is difficult on a low income. You have monthly expenses and low salaried individuals might even be living paycheck to paycheck.

Earning $35k per year and getting a pay raise to $40k can mean the difference between surviving and room to breathe. 

However, earning a $75k salary or greater doesn’t impact you as much for the struggles of life. It’s easier to cover a $1,000 emergency when you earn more. 

Earning above $75k results in no change to your daily living activities. You might be investing more money, but all of your basic needs are met. Someone earning $100k can simply invest the difference.

How much does it cost to get a business degree?

The yearly cost to get a business degree is approximately $25,000 for in-state residents and $40k for out-of-state non-residents. The majority of costs associated with a college degree is tuition, averaging $10k for in-state and $26k for out-of-state. Other expenses include mandatory fees ($1,400), housing ($7,000), dining ($4,300), and books ($1,000).

Summary: Is a business degree worth it?

As you can see, a business degree can be a good option. The degree is relatively easy to obtain with a salary range between $60k and $80k. There are plenty of job opportunities for a business degree and the yearly cost of college is about $25k for in-state and $40k for out-of-state students.

John is the founder of TightFist Finance and an expert in the field of personal finance. John has studied personal finance for over 10 years and has used his knowledge to pay down debt, grow his investment portfolio, and launch a financial based business. He is committed to sharing content related to personal finance based on his experience in his career, investing, and path towards reaching financial independence.