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How Long Does It Take to Get a Business Degree and Is It Worth It?
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If you are a student with ambitions of working in the business world, getting a business degree should be a must-have. For persons already in business and doing relatively well, the decision to get a degree in business may not come easy because it would mean taking time off work to focus on training.
If you are among this group, your million-dollar question is: how long does it take to get a business degree? And, is it worth it? But worry not, as this post seeks to answer these questions, which can help you make an informed decision.
How Long Does It Take to Get a Business Degree
The time needed to complete a business degree course may vary depending on whether you are looking to get an associate’s or a bachelor’s degree. Associate’s degrees often take only two academic years and can be earned from a community college.
But if you intend to earn a bachelor’s degree, it may take you four academic years when you start from scratch. For persons with an associate degree in Business Administration from a reputable institution, there is an option to transfer credits to get a Bachelor Of Science In Business Administration Degree in two academic years.
Is A Business Degree Worth It?
When you decide to get an education, you will need to invest money and time. A business-minded person will always want to know whether their investment is worth their time and money.
Whether a degree in business is worth it depends on what you want to achieve. Below are facts about a business degree you may need to know, which can help you figure out if it’s a worthwhile investment or not.
Higher Chances of a Well-Paying Job
According to the Bureau of Labor Statistics, financial operation occupations can expect an 8% growth between 2020 and 2030. This growth is almost equal to the national growth for all occupations and accounts for about 750,800 new jobs.
The median wage for business professionals as of 2020 was $72,250 per year, $30,000 higher than the average pay for all occupations.
It is important to note that most employers prefer individuals with a bachelor’s degree for financial or business positions. So if you are looking at business administration as a career path, you will be better off with a bachelor’s degree than an associate degree.
Versatility
Not everyone takes a degree in business for employment purposes. Business owners actively involved in running their business can significantly benefit by getting a degree in business.
Studying business at any level helps learners become strong leaders in any business environment.
The best thing about getting a degree in business is its application versatility. It’s one of the few courses that encourage learners to think outside the box and instill skills applicable in any industry.
Skills acquired in a business degree course include:
- Budgeting and finance
- Creative problem-solving skills
- Data analysis for present and future decision making
- Communication skills
- Critical thinking
- Project management and supervision
- Goal setting and planning
The skills gained through a business degree course may seem too many for one course. But there is a reason for it. A lot happens in the business scene and if you are in a managerial position, understanding a little bit of every aspect of the business is vital.
Verdict
If you are looking to venture into a career in business or a business owner seeking to hone your business management skills, a degree in business is one sure way to achieve your goals and is worth your time and monetary investment. If allocating time for your course is a challenge for you, you may consider taking part-time classes to juggle between work and school.
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About Shane Avron
Shane Avron is a freelance writer, specializing in business, general management, enterprise software, and digital technologies. In addition to Flevy, Shane's articles have appeared in Huffington Post, Forbes Magazine, among other business journals.
