15 Highest-Paying Business Majors in 2023
With advancements in technology, the rise in international businesses, and the ever-changing nature of world economies, business majors are continuously gaining more influence and the role they play in economic, political, and social systems can be invaluable.
Most of the highest-paying business majors in the U.S. come with skills that are applicable to different occupations and a wide range of industries. Business major graduates can work as:
- Managers
- Sales representatives
- Financial analysts
- Management consultants
- Actuaries
- Corporate attorneys
- Operations research analysts, etc.
Highest-paying business majors in 2023
Highest-paying business majors include accounting, supply chain management, human resource management, international business, healthcare management & administration, business management, and economics.
Please note that most of these jobs have entry-level basic salaries of less than $100,000 per year. However, mid-career salaries can be mind-blowing. Also, note that the salaries indicated are the mid-career average annual salaries. Mid-career means having about 10 years of experience.
Salary Statistics and Data used in compiling our list of the highest-paying business majors were obtained from The U.S. Bureau of Labor Statistics and PayScale’s College Salary Report.
1. Accounting
A business major in accounting is arguably the highest-paying business major in the United States in 2023. Graduates with a major in accounting learn how to analyze and audit financial information, maintain financial records, and scrutinize company budgets.
Some of the well-paying business jobs with an accounting major include:
- Vice President of Finance – $152,000 p.a.
- Chief Financial Officer – $140,000 p.a.
- Finance Director – $115,000 p.a.
- Corporate Controller – $102,000 p.a.
- Tax Manager – $99,700 p.a.
Note: According to the data, a higher percentage of those holding the position of Vice President of Finance did Accounting as a major rather than Finance.
2. Finance
With a major in finance, one can explore a wide range of careers including being a financial analyst, insurance agent, stockbroker, or financial agent.
As a business major student, you will learn about portfolio management, strategic management, financial accounting analysis, foundations of corporate finance, and the analysis of fixed income and derivative securities.
Some of the best-paying jobs for business majors in finance include:
- Financial Manager – $147,500 p.a.
- Personal Financial Advisors – $119,200 p.a.
- Portfolio Manager – $101,000 p.a.
- Financial Analyst – $94,100 p.a.
- Financial Examiners – $92,300 p.a.
3. Supply Chain Management
Supply chain management revolves around the production, shipment, and distribution of products. Professionals with this major are equipped with invaluable skills in inventory control, logistics, packaging, procurement, product/service development, strategic sourcing, product shipping, and warehousing among others.
Some of the highest-paying business majors jobs for supply chain management professionals include:
- Purchasing Manager – $115,700 p.a.
- Supply Chain Manager – $105,600 p.a.
- Operations Manager – $100,400 p.a.
- Logistics Manager – $92,400 p.a.
- Storage and Distribution Manager – $92,400 p.a.
4. Marketing
Marketing is one of the highest-paying business majors with its graduates earning up to $150,000 per annum at the mid-career level. The program is designed to develop analytical skills in consumer behavior, product merchandising, and effective campaign organization.
Professionals with a marketing major are tasked with responsibilities such as gathering and interpreting consumer information, designing market research strategies, and coming up with promotion designs and marketing guidelines.
Some of the highest-paying business majors jobs for marketing professionals include:
- Marketing Manager – $149,200 p.a.
- Adverting and Promotion Manager – $141,800 p.a.
- Market Research Analyst – $71,500 p.a.
- Marketing Specialist – $71,500 p.a.
5. Human Resource Management
Human resource management is a program designed to impart invaluable knowledge on how to establish strong relations between employees and management as well as how best to manage the employees through the creation of a good working environment.
Human resource management professionals have learned communication, organization, and research skills necessary for creating a harmonious and thriving working environment. Some of the key concepts taught in human resource management class include:
- Benefits & Compensation
- Communication strategies
- Leadership skills
- Management principles
- Interviewing strategies
Some of the highest-paying business majors jobs for human resource management professionals include:
- Vice President of Human Resources – $214,000 p.a.
- Human Resource Manager – $129,500 p.a.
- Compensation and Benefits Manager – $94,200 p.a.
- Training and Development Manager – $87,700 p.a.
- Labour Relations Specialist – $83,300 p.a.
6. Entrepreneurship
According to the U.S. Bureau of Labor Statistics, the United States will have more than 10.3 million self-employed people by 2026. They will include management analysts, lawyers, accountants and auditors, personal financial advisors, dentists, chiropractors, veterinarians, and clinical, counseling and school psychologists.
It also estimates that some of the highest-paying self-employment jobs will be:
- General Dentists – $150,920 p.a.
- Personal Financial Advisors – $100,900 p.a.
- Lawyers – $90,460 p.a.
- Veterinarians – $80,050 p.a.
There are other well-paying entrepreneurship opportunities out there, with some paying more than $160,000 p.a.
7. International Business
A business major in international business opens doors to a multitude of career opportunities. You can work in almost any country and can quite easily fit into any business-related firm or organization.
Salaries for international business majors graduates often vary depending on the business you specialize in and your work experience. Some of the jobs that pay well at the mid-career level include:
- International Marketing Manager – $134,300 p.a.
- International Financial Management – $127,900 p.a.
- International Financial Analyst – $85,600 p.a.
8. Economics
Economics involves learning more about economic theories, economic systems, and mathematical methods. Economics major includes coursework in microeconomics, macroeconomics, econometrics, and economic theory. You will learn how to collect, organize, and interpret business data using mathematical formulas and statistics.
With this major, you can study industry trends, economic forces, labor markets, as well as the prospects for individual companies.
In 2018, the average annual income of mid-career economists was $104,340 and a year later (2019) it was $116,630. The U.S. Bureau of Labor Statistics estimated job growth of approximately 8% between 2018 and 2028.
9. Sales
Sales is another well-paying business major that continues to remain relevant due to the continuous growth of the business industry. Among the highest-paying business majors jobs for sales professionals include:
- Sales Engineers – $112,700 p.a.
- Securities, Commodities, and Financial Services Sales Agents – $93,000 p.a.
- Insurance Sales Agents – $67,700 p.a.
- Advertising Sales Agents – $64,600 p.a.
- Real Estate Sales Agents – $62,000 p.a.
Recommended:
10. Healthcare Management/Administration
A business degree in health management seeks to equip students with strategies to meet the increasing demands of the healthcare industry. It’s a degree program that suits anyone interested to join the healthcare field from a management standpoint.
Health management professionals mainly focus on health policies and facility management. The most commons jobs for healthcare management degree holders include:
- Healthcare Administrator.
- Population Health Manager.
- Healthcare Department Manager.
- Patient Finance Manager.
- Quality and Improvement Manager.
- Health Insurance Manager.
- Managed Care Representative.
According to the U.S. Bureau of Labor Statistics, Medical, and Health Services Managers earn a mean annual salary of $115,160.
11. Business Management
A business management degree program nurtures professionals with a solid understanding of critical aspects of doing and/or running a successful business. This includes learning about accounting, sales, business operations, and organizational leadership.
In addition, you can combine a Bachelor of Business Management with closely related areas of specialization, including the Human Resource Management degree program to increase your versatility.
Depending on your education level, position, experience, and job location, a business management major can earn you up to $104,200 a year.
12. E-Commerce
E-commerce is slowly becoming the go-to area of specialization for many business-oriented professionals. A business major in e-commerce teaches the analysis and design of information and e-systems, emerging information technologies, e-commerce project management, database systems, global operations information technology, and managing telecommunication and internet technologies among others.
With this business major, you can advance your career as an e-commerce management specialist, internet applications designer, entrepreneur, or internet marketer among others. The U.S. Bureau of Labor Statistics highlights the following to be the well-paying professions for an e-commerce major:
- Software and Application Developers – $99,260 p.a.
- General & Operations Managers – $92,800 p.a.
- Web Developers – $64,190 p.a.
Most of these professionals can earn you up to $127,800 p.a. with advanced and/or additional experience.
13. Advertising
Another one of the highest-paying business majors in 2023 is a business major in advertising. The program equips one with effective communication and advertising skills. Advertising professionals design an effective advertising strategy aimed at building lasting customer loyalty.
Advertising majors can work as account executives, media planners, or copywriters and earn a median annual wage of $106,130.
14. Public Relations
Public relations is a business major that equips one with invaluable skills to enable them to represent an organization or company, with their sole responsibility being maintaining its reputation.
Majoring in PR could land you a well-paying Public Relations Specialist job due to your expertise in strategic communication, coordination, and event planning.
Your main responsibility will be to create and/or maintain a positive public image for the company, organization, or business you represent.
According to the U.S. Bureau of Labor Statistics, Public Relations Specialists earn a mid-career average annual basic salary of $70,190.
15. Logistics
A bachelor’s undergraduate program in logistics management prepares one to become a professional in the transport and distribution of products. One learns core concepts such as:
- Logistics management
- Accounting principles
- Statistics
- Micro and macroeconomics
- Transportation management
- Logistics management
- Logistics systems analysis
Over time one can advance to become a manager, field director, or even a logistics planner. According to the U.S. Bureau of Labor Statistics, most logisticians earn a mean annual wage of $78,680.
Highest Paying Business Majors in 2023
This is a comprehensive list of some of the most lucrative business majors in the United States. These college business majors can lead you to a lucrative and very fulfilling career path.
