Entrepreneurship is challenging. It only makes sense to set yourself up for success by arming yourself with the necessary knowledge and skills. Pursuing a major in entrepreneurship or a related field is a good way to get prepared. If you’re interested in learning more about the best majors for entrepreneurs, keep reading.
What are the best majors for entrepreneurs? The best college majors for entrepreneurs include engineering, business administration, and many more. This article does a deep dive into the best majors for entrepreneurs as well as the best jobs for entrepreneurs after graduating.
What Is the Best Major for Entrepreneurs?
Some of the best majors for entrepreneurs include finance, management, business administration, and accounting. There is no one best major for entrepreneurs because setting up and running a successful business requires more than one skill, there are many majors that prospective entrepreneurs can pursue.
How to Find Support for Entrepreneurs in College
- Join a student entrepreneur hub. A center that supports innovation and harnesses creativity is a good place to find support and network. There might be on-campus clubs or organizations you can join after getting into college.
- Register for campus meetings. Learning about entrepreneurship methodology will set the pace for an easy learning process and a successful career.
- Use proper methodology. A regular gathering of students who are interested in entrepreneurship can be a great support system.
- Seek mentorship. Having a successful entrepreneur as a mentor can be invaluable. A good mentor will share business advice, help you figure out your specific interests in the business field, connect you with opportunities after you graduate, and more.
- Supervision of student commitment. To achieve the best results, students’ progress should be supervised. Consult your mentor and academic advisor regularly to make sure your entrepreneurship major is kept on track.
What Are the Best Majors for Entrepreneurs?
- Engineering | Average Salary: $92,000
- Computer Science | Average Salary: $88,000
- Economics | Average Salary: $79,000
- Business Administration | Average Salary: $74,000
- Accounting | Average Salary: $74,000
- Finance | Average Salary: $71,000
- Marketing | Average Salary: $66,000
- Psychology | Average Salary: $66,000
- Communications | Average Salary: $56,000
- Entrepreneurship | Average Salary: $55,000
Best College Majors for Entrepreneurs: Explained
Engineering | Average Salary: $92,000
Studying engineering can help entrepreneurs think systematically about operations. Engineering teaches problem-solving and critical thinking skills that are necessary for running a business. A technical background can also be helpful if you’re hoping to become an entrepreneur in a technical field.
Computer Science | Average Salary: $88,000
The value of this degree is inarguable in the digital era we live in. Having a computer science background can be extremely helpful if you’re working at a tech startup or in the tech field. In general, having a degree in computer science can give you a competitive edge over other business owners because so much of commerce happens online.
Economics | Average Salary: $79,000
Having a clear understanding of how financial systems work is extremely helpful for entrepreneurs, making economics one of the best majors for entrepreneurs. Having this kind of understanding gives you the ability to make smart business choices. An economics degree is also often necessary to be eligible to work at financial firms.
Business Administration | Average Salary: $74,000
Business degree programs cover what it takes to set up a successful business. You’ll learn how financial markets affect your business, how to create business plans, and how to problem-solve.
Business degrees differ across fields, so if you have a particular area of interest you might be able to pursue it and get a headstart on a certain career path.
Accounting | Average Salary: $74,000
An accounting degree will help you stay on top of a company’s finances. This can be especially helpful if you want to run your own small business. You’ll also learn how to take calculated risks and make smart investments.
Finance | Average Salary: $71,000
If you choose to study finance you’ll learn how to interpret financial data. You’ll also learn how to effectively manage financial resources and assess risk management. These are great skills to have if you want to become a successful business owner.
Psychology | Average Salary: $66,000
To succeed in any business venture you need to understand people. A psychology major can help with this. With foundational knowledge of psychology, you can create individualized products, select ideal team members, and make informed decisions in business negotiations.
Marketing | Average Salary: $66,000
The only thing better than having a solution wrapped into a product is the ability to market that product to its target audience. If you study marketing you’ll learn proven marketing strategies. You’ll learn how to assess and meet the needs of different kinds of customers.
Communications | Average Salary: $56,000
Great communication skills are important for any business. As an entrepreneur, a communications degree will teach you how to engage with your customer base in the most productive way. It will also prepare you to receive and integrate feedback from your customer base.
Entrepreneurship | Average Salary: $55,000
Of course, earning an entrepreneurship degree gives you the knowledge you’ll need to become a successful entrepreneur. With this degree, you’ll be prepared for any challenges that come your way. This field of study will also help you quickly develop the entrepreneurial mindset you’ll need to run a business.
Top 10 Best Jobs for Entrepreneurs
Now that we’ve gone over some of the best college majors for entrepreneurs, we’re going to look at jobs for entrepreneurs. When comparing different jobs and trying to choose a field you want to work in, it’s important not only to look at salary but also to consider job outlook.
We’ve included both statistics below to give you a comprehensive picture of some great options. Some of the best jobs for entrepreneurs include IT manager, business consultant, and software developer.
IT Manager
- Average Salary: $89,373
- Job Outlook: 11% growth from 2020 to 2030
- Required Education: Bachelor’s degree
IT managers oversee companies’ computer frameworks and software integrity. They ensure that networks and servers work to maintain an uninterrupted flow of information. Depending on the company, IT managers can also supervise the computer access and use of employees, making sure that the work process is smooth and coherent. To land this job, you need a Bachelor’s Degree in Information Technology.
Business Consultant
- Average Salary: $77,097
- Job Outlook: 14% growth from 2020 to 2030
- Required Education: Bachelor’s degree
Business consultants are hired by businesses to help manage internal business processes. They help strategize, set goals for a company, and execute projects. Since they’re hired as independent contractors, they have flexible schedules. The minimum educational requirement for this job is a degree in finance, accounting, or another finance-related field.
Software Developer
- Average Salary: $74,001
- Job Outlook: 22% growth from 2020 to 2030
- Required Education: Bachelor’s degree
Software developers create programs or applications using their extensive knowledge of programming languages. They’re usually hired by companies to create, improve, or customize programs. A software developer must know the different types of coding languages like Java, Python, and C++.
Public Relations Manager
- Average Salary: $72,320
- Job Outlook: 13% growth from 2020 to 2030
- Required Education: Bachelor’s degree
Public relations (PR) managers supervise the creation of marketing tools. They plan and budget PR events, seek to mold the public perception of the company, and develop compelling advertising content. Any relevant work experience that shows that you’ve handled public relations in the business world is a plus.
Civil Engineer
- Average Salary: $69,351
- Job Outlook: 8% growth from 2020 to 2030
- Required Education: A degree in civil engineering
Civil engineers supervise infrastructure projects. They ensure that projects are completed on schedule and within budget. Civil engineers also project costs, such as costs related to material or equipment use. Getting your professional engineering license can add to your civil engineer resume.
Management Analyst
- Average Salary: $68,613
- Job Outlook: 14% growth from 2020 to 2030
- Required Education: Bachelor’s degree
Management analysts are hired by companies to assess management systems and troubleshoot any problems they find. They’re also responsible for measuring key performance indicators, as well as simplifying the workflow of a business.
Marketing Manager
- Average Salary: $68,251
- Job Outlook: 10% growth from 2020 to 2030
- Required Education: Bachelor’s degree
Marketing managers develop advertising content to promote an organization’s products or services. They’re adept in various methods of marketing, both through digital and print media. They’re also in charge of launching and creating marketing campaigns. Marketing is a vital startup skill that you’ll need if you start your own business.
Financial Analyst
- Average Salary: $63,195
- Job Outlook: 6% growth from 2020 to 2030
- Required Education: Bachelor’s degree
The duties of a financial analyst typically include evaluating financial data, checking legal documents, and performing financial forecasting. They’re also responsible for reporting about the financial health of a company. Becoming a financial analyst usually involves getting a degree in finance or accounting.
Sales Manager
- Average Salary: $63,137
- Job Outlook: 9% growth from 2020 to 2030
- Required Education: Bachelor’s degree
Sales managers handle different transactions with both customers and distributors. They supervise a team of sales representatives. They also oversee all sales activities, prepare sales budgets, and create sales projections.
Web Developer
- Average Salary: $60,844
- Job Outlook: 13% growth from 2020 to 2030
- Required Education: High school diploma or bachelor’s degree
The essential responsibilities of a web developer include creating websites, coding and script development, and website troubleshooting. Educational requirements for a web developer include a degree in computer science or a related field, although sometimes relevant experience or training can be sufficient. You can enroll in a web developer bootcamp and develop your coding skills.
What Degree Do You Need to Start a Business?
There are specific degrees that can improve your chances of starting a successful business. Some of the best degrees that you can earn to start a business include a Bachelor’s Degree in Business Administration, Marketing, or Communications, among others. Keep reading for more details about the best college majors for entrepreneurs.
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- Bachelor’s Degree in Business Administration. Before your business becomes a full-blown venture, you are tasked with the responsibility of managing your business. This degree prepares you for this role.
- Bachelor’s Degree in Marketing. As an entrepreneur, you should know how to reach your target market through ads and campaigns. This undergraduate degree will help you build this skill.
- Bachelor’s Degree in Corporate Finance. With this degree, you’ll learn how to manage your business’s financial resources. Certificates in financial accounting and financial management may also be helpful.
- Bachelor’s Degree in Management. This degree gives entrepreneurs the tools to manage both personal and corporate business ventures.
- Bachelor’s Degree in Communications. For new business owners, a degree in communications can help grow your business efficiently.
Should Entrepreneurs Go to College?
Although a college degree is not mandatory to start a business, going to college can give an entrepreneur soft skills in communication, problem-solving, and leadership. Attending a college that has resources for future entrepreneurs can help with networking. You can attend one of the best business administration colleges and take some of the best business courses to build your capacity as an entrepreneur.
Best Majors for Entrepreneurs FAQ
Your success as an entrepreneur is not determined by the number of degrees attained. You should simply pick a major that is related to your business idea or job that you’re interested in having. Though there are of course graduate business degrees, there is no reason to necessarily focus on graduate education if you want to be an entrepreneur.
You can begin to know what the right college degree to study as an entrepreneur by considering some personal and career-related questions. What are you passionate about? Which degree would help you achieve your passion? Which degree supports the skills you already have? These are questions you can ask to choose a major.
The main difference between an entrepreneur and a businessperson is that an entrepreneur will bring a fresh idea to the market. A businessperson will start a business based on pre-existing ideas. In short, an entrepreneur is a market leader while a businessman is a market player.
It is advisable to acquire a degree in your field of interest as early as possible. If you are yet to launch your startup, this might be a good time to study. If you already launched a business, be sure that you can juggle both study and business.
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