The world is undergoing rapid changes, as increasing globalization and digitalization have made us hyper-connected. Distance and time are no longer hardships in doing business. Other factors such as climate change, generational shifts, and global economic integration are essential as they have changed how we interact with the world.
Amidst all this, technology has disrupted the way companies think about business, as human skills like creativity and communication skills more valuable. It has fundamentally changed the way consumers seek products, marketing trends, and business models. Considering the fast-paced emerging changes, the nature of the future workplace is a subject of debate worldwide.
Most employers think there is a gap between what students learn in school and what is necessary for the workforce. According to a report, 78% of executives are unsatisfied with the skills of their employees. Since most of the degrees in business education usually have the same qualifications, it is difficult for them to stand out. The only way to get a competitive edge is by choosing a specialization that will make you indispensable to your firm.
Many students worldwide lack the essential knowledge regarding some of the crucial professional roles that play a critical role in the business’s sustainability. Here are five degrees that would enable you to make a huge difference in business.
1. Organizational Leadership:
Assuming that the business is all about numbers is often a mistake. Firms of the present-day seek team players. However, a critical and proactive leader to important business decisionsis crucial for its financial growth. Students enrolled in the master of arts in organizational leadershipare taught the necessary skills. These cognitive and critical approaches are essential for team management, decision-making, and critical operations execution.
With a degree in organizational management, you can improve efficiency and productivity. Furthermore, as firms exchange traditional business models for flexible workplaces, demand for leaders is expected to increase. Indeed, according to the United States Bureau of Labor Statistics, this sector will grow by 8% by 2026. The best thing is that organizational managers can work in multiple roles, providing innumerable career growth opportunities. Interestingly, the highest average salary for graduates of a leadership degree is $210,000 per annum.
2. Human Resource Manager
Human resource plays a vital role in organizational development. Organizations that providetheright work environment, training, and development programsstimulateincreased employee productivity.These are the people who recruit employees, develop and implement effective organizational policies.
Most HR managers work with executives, employees, and management to ensure that the workplace is compliant with the relevant laws. They are also responsiblefor handling problems of workplace harassment and injury and supervise the retention procedures. They identify ways to keep departments motivated and maintain productivity.
You can enter into the industry with a bachelor level degree and five years of experience in a related position. Some employers prefer people with additional certifications such as a certificate in SHRM. The median pay of an HR manager is $117,120 per annum. Lastly, the job outlook is positive, with a projected growth of 6%.
3. Financial Analyst
Financial analysts in any organization decide when and how much a company needs to invest in different activities. Think of financial analysts as guides who assess the business opportunities of a firm. They create the end of year reports and examine financial statements to evaluate the business portfolio.
Most financial analysts work in banks and insurance companies and must have a license to sell financial products. An entry-level job requires a minimum bachelor’s degree in the related field. Financial analysts earn a median salary of $81,590. Employment will grow by 5%, which is faster than the average for other finance-related occupations.
4. Public Relations Expert
Nowadays, public perception of a company is of more excellent value for both consumers and organizations. Therefore, a career in public relations is a good fit for someone who thrives in dynamic working environments. Most PR experts have to multitask and think on their feet to enhance the reputation of their employers. The day to day activities of a public relations specialist revolves around writing press releases and monitoring social media.
People that are interested in digital media and communicationsshow more significant concern towards this professional role. While reading this, you might be thinking about how to become a public relations specialist? An excellent starting point would be to get an undergraduate degree in Public Relations.
The majorityof employers prefer candidates with expert knowledge and interest indigital technology.However, additional certifications in a similar field can lead to better job prospects. A PR specialist’s approximate annual salary is $116,180. The demand for PR experts will remain high as employment will grow by 9%.
5. Policy analysts:
They are the thinkers of the business world. Policy analysts research complex problems and recommend feasible solutions to public and private entities. While some may work in the education sectors, others may choose to go into national defense or governance. The ideas for many recent laws were a result of the tireless efforts of policy analysts.
According to the U.S Bureau of Labor Statistics, policy analysts can work in diverse roles and have different responsibilities. They may work as an economist, natural scientists, or urban planets. To be a successful analyst, you must have excellent writing and interpersonal skills. Most policy analysts are at the GS-15 level. So they may earn $93,000 to $145,000 depending on their level of work experience.
It is imperative to mention that employees’ level of experience and qualification is the key to gaining maximum wage. The size and type of organization may also create a difference in the employee’s salary. For example, some organizations like think tanks pay better compensations in comparison with other public organizations.
There are many career paths open to business graduates. From organizational strategy makers to public relations managers, students can pursueany career they wish to. However, students need to consider career paths based on their skills, interest, scope in the job market,and wages.In the current business market scenarios,organizations seek individuals who can manage strategy and innovation. So, students must hone soft and technical skills to succeed in the “new normal.”