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The Beginner’s Guide to Different Types of Business Degrees

The Beginner’s Guide to Different Types of Business Degrees

Business degrees come in all shapes and sizes, from an Associate’s Degree in Business to Masters in Business Administration (MBA) degree and everything in between. Whatever your career goals may be, a degree in business can open the doors to wide range job opportunities in a variety of growing fields across nearly every industry. These include, but are not limited to, accounting, economics, finance, human resources, marketing and project management.

No matter what business degree you pursue, you can expect to be exposed to a multidisciplinary curriculum designed to expand your skill set and prepare you for a diverse range of business career options. Business degree programs will train you in practical and interpersonal skills to increase your employability in any job market. Business degree holders can pursue careers with very appealing salaries, according to PayScale.com. In 2020, the average salary for a mid-range business degree, such as a bachelor’s in business, was $62,840.

Furthermore, the majority of these degrees can be pursued online, catering to today’s busy adults who are going back to college or attending for the first time. At Ottawa University, business degrees ranging from the Bachelor of Arts in Accounting and Bachelor of Science in Finance to the Master of Accountancy and the Master of Arts in Human Resources can be obtained online in a flexible and affordable format.

OU offers mid-range academic degrees in business, including bachelor’s and master’s options. The associate’s degree at the low end of the academic scale is offered primarily at the community college level. At the high end of the academic scale is a doctoral business degree (D.B.A.), which requires a master’s degree for enrollment and can be completed online. Business degree levels vary in average program cost and length.

When deciding whether a certain degree, such as an MBA, is right for you, there are several important factors to consider. Here’s a quick guide to the different types of business degrees:

Associate’s Degree (A.A. or A.S.)

Average Cost/Year: $3,570

Typical Program Length: 2 years

Degree ROI: $41,500 average median salary

To obtain an associate’s business degree, students will be required to take general education credits, including courses in English, history, math, natural science, psychology and sociology, in addition to business courses. A high school diploma or GED-equivalent is required for enrollment. Typically, this degree program takes two years or 60 semester units to complete.

Bachelor’s Degree (B.A. or B.S.)

Average Cost/Year: $9,970

Typical Program Length: 4 years

Degree ROI: $59,125 average median salary

For most bachelor’s business degree programs, students can learn about management, administration, leadership, global diversity and business technology. Typically, business programs require 120 credit hours and are divided into core curriculum classes and approved electives that allow students to pursue a concentration. Business bachelor’s programs, such as accounting, finance and leadership, typically are designed to take four years to complete. Students must have a high school diploma or equivalent to enroll.

Master’s Degree (M.A.. M.S. or M.B.A.)

Average Cost/Year: $8,670

Typical Program Length: 1 to 3 years

Degree ROI: $69,732 average median salary

While the most common master's-level business degree is the MBA, there are actually many different graduate programs available for students seeking master's degrees in business, including the M.A. or M.S., and master's in a particular subject, such as a Master in Accountancy (MAcc). Most of these degree programs can be completed in 1 year (full-time) up to 3 years (part-time), and many are available in online formats for flexibility

Doctoral Degree (D.B.A.)

Average Cost/Year: $10,830

Typical Program Length: 3 to 4 years

Degree ROI: $84,396 average median salary

A Doctor of Business Administration (D.B.A.) degree program is interdisciplinary and is typically designed for working professionals and incorporates more applied research and business practices. These degree programs tend to be 3 to 4 years in length, and although they are a mix between on-campus and online formats, or hybrid. For example, they may only meet on weekends and/or provide some distance learning options to accommodate working professionals.

If you’re interested in the fast-paced and exciting world of business, and you are just out of high school or a career changer, then consider the associate’s or bachelor’s degrees highlighted above. For current bachelor’s degree holders and/or business professionals, a master’s degree in business as outlined above is a great way to advance your career. After a master’s, you can consider pursuing a D.B.A.

Ottawa University can help you succeed with its wide range of flexible and affordable business degrees in Kansas City and beyond. To learn more our online business degrees, click here to contact us today.

Posted: 09/22/2020 by OU Online
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