Business and Marketing Majors: What to Know About College

For many people, going to college is a crossroads in deciding what kind of career they want to pursue. Among many possible answers, some people choose a major in business or marketing to better understand consumer behaviors or even pursue entrepreneurship. If you are considering this field, there are a couple of factors that you should take into consideration beforehand.

Succeeding in business or marketing demands a combination of ambition and practical thinking. For business students, college can serve as an opportunity to start building strong networks that will serve them later in their careers. At My College Companion, we can provide you with additional resources to help with the pursuit of your degree.

Why Consider a Degree in Marketing or Business?

A degree in business or marketing can be a versatile tool, opening doors to numerous career opportunities. A "business degree" can be a massive umbrella term, and while many universities do offer general business as a major, there are a number of specializations that you can concentrate on instead. Some of these avenues include:

• Finance
• Accounting
• International Business
• Business Administration
• Entrepreneurship
• Supply Chain Management
• Economics

Marketing majors can find work in various roles, such as:

• Digital marketing
• Market research and data analysis
• Advertising
• Social media management

The skills you pick up from a business or marketing degree are often highly transferable, allowing you to work in a variety of industries. Some students may pursue an undergraduate degree, while others may continue their education by pursuing a Master of Business Administration (MBA), a more advanced program at a dedicated business school.

Challenges Faced by Business Majors

Although getting a degree in business or marketing can be incredibly fruitful, you may run into unique obstacles and challenges. In particular, if you do not already have connections in the field, you may struggle to find an "entry point" in networking, which can be critical for finding your ideal job. Many campuses host job fairs and other professional events that can help students find mentors and build connections in their desired field.

Aside from the challenges of networking, marketing and business students may also struggle with covering the costs of higher education, factoring in tuition, class materials, room and board, and other expenses. A 2024 report by Education Data Initiative found that the average cost of an MBA was $60,410, and at more prestigious private universities, you can expect to pay more than that.

Paying for a business degree can be a daunting prospect, no matter your financial situation. With that in mind, be sure to take advantage of the opportunities before you, including FAFSA and scholarships.

Resources for Marketing and Business Students

Whether you are pursuing an undergraduate marketing degree or an MBA, you can benefit from applying for scholarships, especially those tailored to your degree. Two scholarships worth considering include:

• Albatross Consulting Future of Advertising Scholarship: This scholarship is open to marketing and advertising students with a current GPA of 3.5 or higher.
• Seger Law Aspiring Professional Scholarship: This scholarship is available to undergraduate business students in their junior or senior year who plan on opening up a business that benefits their community while creating job opportunities for women and minorities. Only students with a GPA of 2.5 or higher will be considered.

While you work toward your degree, it may also be worth looking into internships and jobs, as practical, hands-on experience is highly valued in marketing disciplines.