If you choose a business major, you could envision yourself managing operations from your executive suite.
It might be pricey to earn a business degree. Additionally, your education demands time and work. Top business degrees do, however, provide a fair return on investment.
This article explains which business degrees pay the highest salaries as well as which ones are the finest to obtain.
What Are The Highest Paying Business degrees?
Let’s look at some of the business majors with the highest salaries:
Human Resources(HR)
Specialists in human resources are in charge of managing pay and benefits administration as well as employee care. 0Payroll administration, training, and development, as well as labor regulations, are just a few of the subjects covered in this degree program. HR majors that possess this knowledge can pursue careers as directors, managers, or specialists in the field of human resources.
- Average fees:
Certificate: INR 20,000-1,00,000
Bachelors: INR 50,000-2,00,000
Masters: INR 1,00,000-2,00,000
Doctorate: INR 6,00,000-15,00,000
- Average Salary: In India, an HR manager makes a yearly salary of INR 7 lakh. Depending on several variables, your salary in this sector could range from INR 2.91 lakh per year to INR 20 lakh per year, including bonuses, commissions, and shared profits.
Accounting
Students who earn an accounting degree will learn how to compile financial reports, adhere to accounting principles and procedures, and even conduct audits. Business courses like forensic accounting, tax accounting, and financial accounting are just a few examples of what students can anticipate taking in undergraduate degrees. You must continue your formal study to earn a postgraduate degree in addition to certification if you want to operate as a certified public accountant (CPA).
- Average fees:
B.com in accounting: INR 5000-70,000 per year
BBA in accounting: INR 15,000-21,000
MBA in accounting: INR 4,00,000-20,00,000
- Average salary: The position you have in the accounting department determines your salary in the field of accounting. The average annual compensation for accountants and auditors is $61,690. An accounting manager makes an annual salary of Rs 606,014.
Management
The main goal of business management is to monitor and control business activities and procedures to increase efficiency. Degree holders in management are qualified for employment at all levels of management, from assistant managers to executive management. Students can select their desired specialization within the management sector, such as operations management or sales management. Depending on the organization, region, and role title, management pay might vary significantly.
- Average fees:
Business Management: INR 1.20,000
Operations Management: INR 30,000
Risk Management in Banking and Financial Markets: INR 36,000
- Average Salary: A graduate with a management course often earns between INR 3.50 to 5 LPA in pay. This amount does, however, gradually increase as the individual gets the necessary exposure, experience, and understanding in the sector.
Economics
Economics focuses on how resources are distributed and used by firms and the economy as a whole. Microeconomics, macroeconomics, management economics, accounting, operations research, mathematics, and other topics are studied in economics courses. Despite being a business degree, economics places a lot more emphasis on theory than on actual company operations. Due to their grounding in education, people with degrees in economics can work in a wide variety of commercial roles. Or, they could pursue a career as an economist.
- Average fees: INR 25,000-1,00,000
- Average salary: An economist typically makes between 1.88 lakhs and 14.81 lakhs a year. Economists might start with a monthly salary of between Rs 10,000 and Rs 12,000 in the government sector.
Supply Chain Management
Economic, logistical, and financial concepts are all included in supply chain management programs. These business courses equip students with the knowledge and problem-solving skills necessary to manage logistics and conquer obstacles. Students gain knowledge of, presentation preparation, inventory management no, and data analytics.
- Average fees: INR 10,000 – 80,000
- Average salary: In India, a manager of supply chain management makes an average income of 13.8 lakhs (or 1.2 lakhs per month). Salary projections are based on 1254 salaries from different Managers of Supply Chain Management in a variety of sectors.
Business Administration
The inner workings of how businesses operate are taught to those who study business administration. Basic concepts including finance, marketing, and accounting are covered in the courses. Students gain problem-solving skills, critical thinking abilities, and business ethics through these courses. Graduates with a business administration degree can pursue a variety of professions.
- Average fees: INR 15,000 – 2,00,000 per year.
- Average salary: In India, the average monthly wage for a Business Administration is 42,134.
Entrepreneurship
Do you aspire to launch your own business someday? If so, majoring in entrepreneurship can help you get ready by teaching you the skills you’ll need. You can anticipate learning how to create a company plan, obtain money, prepare for new business endeavors, and introduce new items by studying entrepreneurship. With this degree, you could pursue a variety of alternatives, such as starting your own company or working for a venture capital firm.
- Average fees: INR 10,000 – 10,00,000
Online Business Courses to Get Your Degree
There is the possibility to obtain a degree online for anyone interested in enrolling in the best business programmes. You can look for online business degree-granting universities by searching for the program of your choice.
It is almost definitely simpler to get accepted into an online MBA school than a regular program. In a survey, the Graduate Management Admissions Council discovered a significant difference in the median admission rates between the two categories of institutions: 45 percent for traditional full-time MBA programs.
Conclusion
You now have a list of the greatest and highest paying business degrees, so make your decision. What aspect of business most appeals to you? What type of business professionals are you interested in?
You can then choose your preferred business major and start studying based on the responses!
