Business school requirements vary per institution and program. However, undergraduate business degrees at the associate and bachelor’s levels typically require a minimum of a high school diploma or GED equivalent to apply.

Students who can demonstrate a high grade-point average on their high school transcripts or complete advanced placement, college prep, and honors courses are commonly preferred.

Prospective learners generally apply to their school of choice through the institution’s undergraduate or graduate admissions process. In addition, future business professionals also submit an application to their specific business program of study.

Business Administration: A Popular Academic Program

The National Center for Education Statistics identified that from 2020 to 2021, postsecondary institutions awarded one million associate degrees. Of the one million associate degrees conferred—11%, equal to 116,100 distinctions — were associate degrees in business.

The National Center for Education Statistics also recognized two million bachelor’s degrees earned in the same year. From 2020 to 2021, bachelor’s degree business majors comprised 19 % (391,400 credentials) of all degrees presented.

Did you know?!

Workforce-ready institutions, like Goodwin University, make your professional goals possible. Whether you’re in the classroom or comfortable on your couch, Goodwin’s convenient business courses enable students to complete their degrees and cross the graduation stage prepared for their careers.

A Comprehensive Curriculum

Business programs characteristically have an innovative approach to education, emphasizing a real-world curriculum and career-focused learning like communication skills and practical project management.

Whether you’re an entrepreneur just entering the field or an experienced, seasoned executive, postsecondary business programs advance skills at any stage—from certificates to master’s degrees.

Compensation, Career Options, and Outlook

The U.S. Bureau of Labor Statistics specified that business and financial occupations made a median annual wage of $76,570 in 2021.

Business is also an inclusive higher education major with enticing career options. Business administration graduates can enter the following industries:

• Corporate
• Education
• Energy
• Entertainment
• Hospitality
• Manufacturing
• Marketing
• Not-for-profit
• Small business
• State and federal government
• Technology, and
• Transport

The Bureau of Labor Statistics further projected the business and financial sectors to grow seven percent from 2021 to 2031, creating 715,100 new careers over the decade.

Six Top-Paying Professions That Require a Business Degree

In addition to strong job demand, business graduates have a diverse option of well-compensated roles to choose from when it comes to specialization. We share a small subset of top-paying positions that require businesses degrees:

1. Budget analysts

• Career Description: Budget analysts monitor, prepare, and plan the finances and spending of private and public organizations.
• Compensation: The U.S. Bureau of Labor Statistics detailed that the average annual wage of budget analysts in Connecticut in 2022 was $86,770.

2. Project Management Specialists

• Career Description: Project management specialists operationalize plans into action—coordinating budgets, client contact, schedules, and technical day-to-day details that make projects successful.
• Compensation: As of 2022, the U.S. Bureau of Labor Statistics identified the average annual wage of project management specialists working in Connecticut to be $102,800.

3. Management analysts

• Career Description: Management analysts improve organizational efficiency by advising executives on assorted ways to reduce costs and increase revenue.
• Compensation: As of 2022, the U.S. Bureau of Labor Statistics reported the average annual wage of management analysts in Connecticut to be $105,650.

4. Financial examiners

• Career Description: Financial examiners ensure rules, regulations, and legal compliance that govern financial institutions; they assess loan risks, evaluating management, and reviewing balance sheets.
• Compensation: In 2022, the U.S. Bureau of Labor Statistics stated the annual average wage of Connecticut financial examiners to be $110,240.

5. Financial Analysts

• Career Description: Financial analysts examine individual and business assets and guide clients on spending money to maximize profit.
• Compensation: According to the U.S. Bureau of Labor Statistics, in 2022, the annual average wage of financial analysts in Connecticut was $114,400.

6. Personal financial advisors

• Career Description: Personal financial advisors help individuals with resource management—including advice on estate planning, insurance, investments, mortgages, retirement, and taxes.
• Compensation: As of 2022, the U.S. Bureau of Labor Statistics reported the average wage of personal financial advisors employed in Connecticut to be $146,210 annually.

Goodwin University offers a variety of business degree programs to help you crush your career goals and secure your dream role. Download our Get Started Business Administration Guide to discover which program is best suited to your needs!

Six Qualities to Succeed in a Business Program

A business degree can help prospective students develop the right skills and qualities to succeed in a future role in the business world. Specifically, successful businessmen and women often possess:

1. Creativity — Creativity cultivates out-of-the-box- solutions in higher education and business, leading to groundbreaking, innovative outcomes and improved expression — no matter the environment.
2. Curiosity — Curiosity and an innate tendency to consistently ask questions (in school or the workforce) can develop lifelong learners eager to educate and evolve.
3. Determination — Passion for self-improvement and persistence can drive your academic business objectives and professional purpose.
4. Discipline — Adhering to time management techniques, keeping your commitments and responsibilities in mind, remaining motivated, and maintaining a rigid study schedule and strong work ethic will get you to your business degree goals.
5. Networking — Bringing emotional intelligence and people skills to the forefront is essential for your future business career. Whether making genuine connections with alums, classmates, mentors, teachers — or more — interpersonal skills inspire others, increase productivity, and impact postsecondary and professional culture.
6. Patience — Yes, a postsecondary education takes time from your routine — but it does pay off. If you can remain patient (with yourself and others), problem-solve, and persevere, you will be more effective and efficient in all upcoming endeavors.

Get to your goals. Get down to business. Discover how Goodwin’s business administration degrees can make a distinct difference in your future career.