A business administration or finance degree can lead to opportunities in large and small organizations in the public and private sectors or prepare an entrepreneur to start a business. Introductory coursework often overlaps for students, and both degrees require accounting, statistics, economics, and business law.
According to the U.S. Bureau of Labor Statistics (BLS), employment in business and financial occupations is expected to grow faster than average for occupations by 2033 with approximately 963,500 openings each year.1 Read Also: What is the Real Economy: 10 Points to Explain It
KEY TAKEAWAYS
Table of Contents
- A finance degree is commonly viewed as a specialized degree while a degree in business administration is a more generalized degree.
- Both degrees require coursework in accounting, statistics, economics, and business law courses.
- A business administration or finance undergraduate degree prepares students for many entry-level jobs in commercial banking, money management, real estate, and investment banking.
Business Administration Degree
A business administration degree, such as a Bachelor of Business Administration (BBA) or a Bachelor of Science in Business Administration (BSBA), commonly includes a broad curriculum. In addition to analytical skills, a business administration program may focus on interpersonal or “soft” skills. Read Also: Google My Business: Essential Tips
Some programs may expect graduates to demonstrate an in-depth knowledge of human resources and be able to work effectively in a team-based environment. Depending on the program, a business administration student will take leadership and organizational behavior courses to act as a generalist who can adapt to many career arenas.
The broad-based nature of the business administration degree provides long-term advantages in shifting job markets. The experience individuals gain can be transferred from one industry to another.
Finance Degree
A bachelor’s degree in finance tends to be specialized. The degree places a greater emphasis on investments and the workings of financial institutions. In addition, finance students may focus on corporate and global finance, and a finance degree program may address “hard” skills such as analysis and accounting.
Finance majors need a substantial background in mathematics. Graduates can typically find work in banking, real estate, money management, or investment banking. A degree in finance also gives students a chance to learn more about investing, which can prove valuable on the personal and professional levels.
According to their annual rankings, U.S. News & World Report ranked Stanford University and the University of Pennsylvania as tied for first place as the Best Business Schools for 2024.2
Careers and Salaries
According to the Bureau of Labor Statistics, the jobs for which graduates with either degree qualify have a strong demand and pay well. Below are examples of average salaries in 2023 earnings and projected job growth to 2033:
- Financial analyst Earnings: $99,890; Projected job growth: 9%3
- Financial manager Earnings: $156,100; Projected job growth: 17%4
- Management analyst Earnings: $99,410; Projected job growth: 11%5
- Personal financial adviser Earnings: $99,580; Projected job growth: 17%6
- Securities, commodities, and financial services sales agent Earnings: $76,900; Projected job growth: 7%7 Read Also: Ohio Business Gateway: Streamline Your Business Online
Is a Bachelors Degree in Finance or Business Administration Sufficient to Land a Job?
A finance undergraduate degree or a degree in business administration is considered sufficient preparation for many entry-level jobs. However, some students receive other certifications or advanced degrees such as a Master of Business Administration (MBA) or a Master of Science in Finance.
Do Finance Majors Need to Get Finance Certifications After Graduations?
A finance degree alone is often enough for a new graduate to land a job. However, those who intend to work with clients and advise them on retirement planning or investment will often get certifications like Certified Financial Planner or Certified Fund Specialist.8
How Long Does it Take to Earn an Undergraduate Degree?
Students typically complete their undergraduate coursework and graduate within four years. Read Also: Business Casual for Men: Style Guide
The Bottom Line
Business administration and finance degrees differ in their details but both lead to careers with small and large companies. A bachelor’s degree in business administration offers a broad grounding in commerce, while a bachelor’s degree in finance tends to be more specialized, emphasizing investments, financial institutions, and money management.
