Learn more about the salary you can expect once you graduate with a business degree, and the factors that can influence whether you make more.
Earning an undergraduate business degree, such as a Bachelor of Business Administration (BBA), can often lead to higher-than-average salaries. That's because business graduates have knowledge and skills that resonate with what many major employers need. According to the National Association of Colleges and Employers (NACE), six of the 10 most in-demand majors are in business [1].
Learn about the salaries you may be able to earn with a business degree, and the factors that can further elevate that salary. Afterward, keep building key analytical skills with the IBM Business Analyst Professional Certificate.
There's a reason why majoring in business remains such a popular option among US bachelor's degree graduates [2]. Not only can the degree be versatile, leading to a variety of career options, but it also tends to yield higher salaries. According to the US Bureau of Labor Statistics (BLS), business degree holders earn a median annual wage of $71,000 [3]. That’s higher than the median wage for bachelor’s degree holders across all fields: $66,000.
However, several factors can influence salary beyond the field of your degree. Let's explore each of them.
Learn more: Is a Business Degree Worth It?
When you earn a business degree, it's possible to choose a concentration to develop specialized knowledge in, and several of these can lead to higher incomes. The most common business majors are management and administration, general business, accounting, finance, and marketing or market research. According to the BLS, about 88 percent of business degrees are in these focus areas [3].
According to the National Association of Colleges and Employers (NACE), the business majors associated with the highest average starting salaries—or entry-level salaries—are management information systems (MIS) and actuarial science [1].
The following offers a look at the average business degree starting salaries ranked by major, according to NACE:
Major | Average starting salary |
---|---|
Management information systems | $73,695 |
Actuarial science | $69,677 |
Logistics/supply chain | $64,538 |
Finance | $64,887 |
Accounting | $64,092 |
International business | $62,988 |
Business administration/management | $62,856 |
Sales | $60,696 |
Marketing | $60,462 |
Human resources | $60,423 |
You may decide to pursue several career paths with a business degree, and each is associated with different salary expectations over time. (Still, most business occupations with a bachelor’s degree as the minimum education requirement are associated with salaries exceeding the national mean wage for all occupations, $48,060 [4].)
Most people with a business degree will work in management or business and financial operations occupations, according to the BLS. The median salary for all careers that the BLS classifies as management occupations is $116,880 [4], while the median salary for business and financial operations occupations is $79,050 [5]. (Note that management salaries tend to be higher since they are often higher-level positions requiring several years of work experience.)
The following represents the median wages and job growth rates for the top-employing roles for people with a business degree, according to the BLS [3]:
Job | Median salary | Job growth rate |
---|---|---|
Financial manager | $156,100 | 17% |
Management analyst | $99,410 | 11% |
Human resources specialist | $67,650 | 8% |
Accountant and auditor | $79,880 | 6% |
Manager (other types) | $133,560 | 6% |
Where you live may influence your compensation. Often, employers will adjust salaries to reflect your local cost of living. Places where the cost of living is high, such as in a major city, tend to reflect higher salaries than places where the cost of living is lower, such as a less expensive suburb. Additionally, employer demand for specific roles may be higher in some areas than others, increasing the average salary.
The states with the highest average salary for business majors, according to Zippia, include [6]:
State | Average salary |
---|---|
New York | $61,825 |
New Jersey | $60,714 |
Connecticut | $59,568 |
California | $58,394 |
Massachusetts | $57,829 |
Additionally, the cities with the highest average salary for business majors include [6]:
City | Average salary |
---|---|
New York, New York | $61,944 |
San Francisco, California | $61,581 |
Washington, DC | $61,537 |
Hartford, Connecticut | $59,264 |
Boston, Massachusetts | $57,600 |
Degrees from certain business schools may offer higher starting salaries. Many elements can factor into this, such as a school’s reputation, the quality of education, or a robust alumni network.
The business schools associated with the highest starting salaries include the following, according to an analysis from Payscale [7]:
School | Average early career salary (0–5 years experience, 2024) |
---|---|
Massachusetts Institute of Technology (Sloan) | $108,800 |
Stanford University (Graduate School of Business) | $107,700 |
University of Pennsylvania (Wharton) | $104,300 |
University of California Berkeley (Haas) | $104,100 |
Georgetown University (McDonough) | $102,100 |
Carnegie Mellon University (Tepper) | $98,700 |
Santa Clara University (Leavey) | $96,000 |
University of Notre Dame (Mendoza) | $95,800 |
Lehigh University (College of Business) | $95,300 |
Brown University | $95,200 |
Washington University in St. Louis (Olin) | $94,200 |
New York University (Stern) | $93,500 |
Tip: Look for your school’s employment report to see the salary ranges your program’s previous graduates earned once they completed their degree. In the report, you may also see the specific job roles and companies where they accepted job offers.
A bachelor’s degree is the typical entry-level education requirement for several business occupations. However, about 26 percent of business graduates continue their education with an advanced degree [3]. Earning an advanced business degree, such as a Master of Science (MS) or Master of Business Administration (MBA), can help you qualify for higher-level positions and increased salaries as you continue to grow within your field.
Here are the median starting salaries in the US for recent graduates of business master’s degree programs, according to a survey from the Graduate Management Admission Council [8]:
Degree | Median starting salary |
---|---|
Master of Business Administration (MBA) | $120,000 |
Master of Finance | $80,000 |
Master in business analytics | $80,000 |
Master of Data Analytics | $80,000 |
Master of Accounting | $75,000 |
Master in Management | $80,000 |
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National Association of Colleges and Employers. “NACE Salary Survey: Winter 2024, https://www.uwosh.edu/career/wp-content/uploads/sites/38/2024/01/Winter-2024-Salary-Survey-Report.pdf.” Accessed July 17, 2025.
National Center for Education Statistics. “Undergraduate Degree Fields, https://nces.ed.gov/programs/coe/indicator/cta.” Accessed July 17, 2025.
US Bureau of Labor Statistics. “Occupational Outlook Handbook: Field of degree: Business, https://www.bls.gov/ooh/field-of-degree/business/business-field-of-degree.htm.” Accessed July 17, 2025.
US Bureau of Labor Statistics. “Occupational Outlook Handbook: Management Occupations, https://www.bls.gov/ooh/management/home.htm.” Accessed July 17, 2025.
US Bureau of Labor Statistics. “Occupational Outlook Handbook: Business and Financial Occupations, https://www.bls.gov/ooh/business-and-financial/home.htm.” Accessed July 17, 2025.
Zippia. “Average Business Major Salary, https://www.zippia.com/business-major/salary/. Accessed July 17, 2025.
Payscale. “College Salary Report: Best Schools for Business Majors by Salary Potential, https://www.payscale.com/college-salary-report/best-schools-by-majors/business.” Accessed July 17, 2025.
Graduate Management Admission Council. “Corporate Recruiters Survey: 2022 Summary Report, https://www.gmac.com/-/media/files/gmac/research/employment-outlook/2022_gmac_corporate_recruiters_survey_summary_report_final.pdf.” Accessed July 17, 2025.
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