Career Path: Business
The business sector has some of the fastest growing job fields in the workforce. It is expected to increase 12.5 percent by 2022, opening up nearly 1 million new employment opportunities in the job market, according to the Bureau of Labor Statistics. The huge success of the business sector will continue well into the next decade. This is largely due to the fact that every industry contains a business component to help it run successfully. Industries such as health care, justice and legal work, and even nonprofit organizations all have a business backbone that enables them to function efficiently.
In the health care industry, hospitals and clinical offices all have a business team working behind the scenes to ensure that patients are accurately charged and medical bills are paid in a timely manner. The business teams at hospitals and physician offices also determine the costs of procedures, checking with other health care facilities to establish average prices. They also handle health insurance claims and equipment costs. The business teams in the justice and law industry take care of employee pay, benefits and administration. They also ensure that clients are properly billed, and that these bills are paid in a timely manner. They are responsible for keeping records organized and updated. Some legal departments also have a marketing team, another subsection of the business sector. Nonprofit organizations, most often seen in the form of charities, must also have business teams, even though they do not seek to earn money from their endeavors. The business teams at nonprofits ensure that the organizations stay within budget or responsibly manage their existing funds. They keep them from going into debt, as even nonprofits must be careful to not overspend, especially when there is no revenue coming in.
A business degree is one of the most functional ones available. Of the 1,791,046 bachelor’s degrees conferred in 2011 and 2012, 366,815 were business degrees, according to the National Center for Education Statistics. The popularity of the business degree is not surprising, given that students in such a program learn leadership tactics and idea development and implementation—all skills that are easily applicable to any employment situation.