Both engineering majors and business majors have demand and excellent salary ranges in the job sector. The national average salary for an engineering major graduate in the United States is $84,098 per year, while the national average salary for a business major in the U.S. is $50,670 per year.
Key Takeaways
- What we major in has consequences that extend far beyond the foundation of knowledge we build in our early years and become our future careers
- Some of the most demandable engineering majors are Engineering Majors, Electrical Engineering, Computer Engineering, Biomedical Engineering, etc.
- Some of the most demandable business majors are Accounting, Business Management, Project Management, International Business, etc.
- A career in engineering will give you challenging work while a career in business will give you more administrative work
List Of Best Engineering Majors
1. Mechanical Engineering
2. Electrical Engineering
3. Civil Engineering
4. Computer Engineering
5. Chemical Engineering
6. Biomedical Engineering
7. General Engineering
8. Industrial Engineering
9. Petroleum Engineering
10. Aerospace and Aeronautical Engineering
List Of Best Business Majors
1. Accounting
2. Advertising
4. Communication Management
6. E-Commerce
7. Marketing
8. Finance
9. Economics
12. Human Resources Management
13. Management Analysts
Why Choose Engineering Degree
There are many different career paths available for engineers and it’s a big reason students choose an engineering major over a business major. Moreover, studying engineering brings prestige. People will be like “wow” when they hear that you are an engineer. Apart from that, there are a few other reasons students choose an engineering degree.
Improve The Society And The World
There are many scopes available for engineers to positively contribute to society and the world. Engineers can work on various engineering projects in many specialties that help society. You can work on cleaning up the environment, develop prosthetic limbs for those who are disabled, devise clean and efficient transportation systems, find new energy sources, reduce hunger problems, and enhance the standard of living in countries that are underdeveloped.
Challenging Work
A career in engineering will give you challenging work. So if you love a challenge then you should pick an engineering major. An engineer needs to provide a solution to many complex problems using mathematics and analysis. Moreover, it’s the duty of an engineer to convince the team and management that the solution is the best option for that specific problem.
Autonomous Working
An engineer works with several departments in a company. The work involves engaging with different levels of management. It includes a lot of flexibility in the working process and entrusts them to accomplish their tasks independently. This type of working environment gives the engineering opportunity to explore creative ideas to meet the company’s expectations.
Creative Thinking
Engineering is a creative profession and it requires creativity to discover something or solve problems. We are living in an era of fast technological changes, so the need for engineers to think in a creative way is more important than ever. If you love asking questions, inventing, exploring, discovering, and creating products and systems then engineering majors are your best options.
Financial Security
A study showed that the architecture and engineering occupations will grow by 7% from 2016 to 2026, which is faster than average for all occupations. Moreover, it is expected that there will be 195,000 new jobs in these areas at that time. There will be more jobs for engineers than for other professionals. The service of engineers will be required in renewable energy, rebuilding infrastructure, robotics, and oil and gas extraction. The median annual salary for all engineers, according to the Bureau of Labor Statistics, is $79,100. This is much higher than the median salary for all American workers at $37,600.
Why Choose Business Degree
Students prefer a business degree because there are millions of job openings for business majors. Moreover, the opportunity is increasing with the development of the US economy. The Bureau of Labor Statistics of the USA reports all business and financial occupations will grow by a strong 10% through 2026 which is faster than average. Below are other reasons students choose a business degree.
Increased Demand
The demand for a business professional is increasing day by day. A skilled and experienced business professional can ensure that businesses are using their resources, manpower, and money wisely. A poor investment decision can ruin your business and a business expert can prevent that from happening. The main motto of a Business professional is to develop and maintain the progress of a company.
Flexible Profile
Usually, a business professional has a flexible profile. It means the role of a business professional might differ from company to company. In some companies, a business professional might have to look after the technical side of a project while others are strictly handling the business part. So as a business professional, you have a vast range of possibilities to grow your career naturally.
Advantages Of An MBA Degree
As a business professional eventually you might get an MBA degree which will add a huge boost to your career. Getting an MBA degree will result in a higher salary and more responsibility. Companies will pay you considerably more if you earn your MBA compared to only a bachelor’s degree:
1. Financial service sales agents: $90,000 vs. $170,000
2. Financial managers: $78,000 vs. $110,000
3. Market research analysts: $65,000 vs. $90,000
4. Marketing and sales managers: $80,000 vs. $110,000
5. Managers: $56,000 vs. $76,000
6. Logisticians: $54,000 vs. $82,000
Transferable Business Skills
Having a business major will give you many skills that you can use in various circumstances in different types of business jobs. Picking a business major gives you more flexibility in your choice of work than other occupations. Below are some skills that you can learn from a business major:
1. Microsoft Excel and Office
2. Budgeting and forecasting
3. Project management
4. Business administration
5. Sales
7. Accounting
Engineering Major Salary In Job Sector
| Major | Starting Salary | Mid-Career Salary |
| Biomedical Engineering | $60,958 | $95,090 |
| Chemical Engineering | $65,618 | $114,470 |
| Civil Engineering | $56,152 | $93,720 |
| Computer Engineering | $71,007 | $117,840 |
| Construction Management | $55,795 | $103,110 |
| Electrical Engineering | $64,936 | $101,600 |
| Electrical Engineering Technology / Mechatronics | $55,884 | $86,6904 |
| Geological and Mining Engineering and Sciences | $61,977 | $98,420 |
| Geospatial Science and Technology | $49,571 | $68,340 |
| Materials Science and Engineering | $65,806 | $96,930 |
| Mechanical Engineering | $61,538 | $92,800 |
| Mechanical Engineering Technology | $56,152 | $99,310 |
| Surveying Engineering | $48,360 | $66,440 |
Business Major Salary In Job Sector
| Major | Starting Salary | Mid-Career Salary |
| Economics | $50,100 | $98,600 |
| Finance | $47,900 | $88,300 |
| Management Information Systems | $49,200 | $82,300 |
| Philosophy | $39,900 | $81,200 |
| International Relations | $40,900 | $80,900 |
| Marketing | $40,800 | $79,600 |
| Accounting | $46,000 | $77,100 |
| Business Management | $43,000 | $72,100 |
| Health Care Administration | $38,800 | $60,600 |
References:
1. https://www.bls.gov/careeroutlook/2018/article/engineers.htm
2. https://www.payscale.com/college-salary-report/common-jobs-for-majors/business
Last Updated on October 22, 2022 by Magalie D.
Magalie D. is a Diploma holder in Public Administration & Management from McGill University of Canada. She shares management tips here in MGTBlog when she has nothing to do and gets some free time after working in a multinational company at Toronto.
