Today, the employment dynamics are rapidly evolving in the corporate sector. First, the global pandemic pushed employees to work from home. That proved beneficial for the organizations, significantly improving productivity levels. Second, the prompt automation of tasks reduced the need for staffing. Now, machines and software can perform redundant and mundane tasks within minutes.
The new corporate landscape demands skills and expertise to enhance productivity levels further. In turn, employers look for well-versed professionals in the business world. Likewise, they want people who can adapt to today’s continuously transforming landscape. So, if you are thinking about which degree to pursue as a graduate or post-graduate, let us help you explore.
Here we are highlighting seven in-demand business specializations to pursue in 2022.
1. Business Administration
Truthfully, Master of Business Administration (MBA) is among the most renowned business qualifications. It is a specialized business degree and takes a broad approach to business training. It trains individuals to become qualified business experts by teaching subjects such as economics, finance, marketing, public relations, etc. In short, an MBA degree provides a well-balanced overview of different business aspects.
Now, you might wonder what jobs can I get with an MBA degree. You can become a finance manager, sales head, or operations manager, depending on your specialization. People with MBA degrees draw on a comprehensive set of skills, helping them qualify for managerial roles in reputable organizations.
2. International Business
As every organization is trying to set a global footprint, they need experts who know the international business landscape. So, why not become familiar with global business practices? Lately, international business has become a popular specialization for master’s programs. Even though the program is similar to general business courses, it incorporates a global perspective. It means you will study the business laws of countries across the globe.
Furthermore, you will learn about global finance, economics, and supply chain. In turn, you can bridge the gaps between cultures, foreign markets and devise country-spanning strategies. Remember, the demand for people who understand the international business landscape will continue to grow because the world is gradually becoming connected.
3. Financial Management
Undeniably, every business has to think about money. From monitoring outflows to tracking inflows, financial considerations permeate every aspect of an organization’s routine operations. Therefore, financial management graduates are attractive to employers. Companies of all sizes look for experienced finance majors who bring a broad set of finance-related skills. Some employers want individuals with forecasting skills, whereas others look for accounting competency.
Studying for a degree in finance can help you gain all the necessary skills. The program covers portfolio management, allowing you to qualify as an investment banker. In addition, it has subjects like financial accounting, macroeconomics, money, banking, etc. As for jobs, finance students can become analysts, bankers, and advisors. With some years of experience in the industry, you might be able to advance to the job of a financial manager.
4. Data Analysis
Thanks to digitization, every business generates tons of data today. But unfortunately, the data is available in its raw form. Hence, companies need analysts to make sense of all the available information. How about you become a corporate data analyst? In addition to analyzing data, you will collect and organize datasets from different sources. Likewise, you will interpret data to identify trends to serve customers and enter new markets.
Besides this, you’ll get to combine your mathematical competency with a high-level understanding of business strategy to make more apt decisions. As more organizations take the data-backed approach, the demand for analysts hasn’t been more significant. Graduates with a specialization in the field of data are likely to earn up to $85,000 on average.
Today, we live in adverse economic conditions. Not only is inflation creating a ripple down effect, but rising population and increased money supply are also other topics of concern. As money matters continue to influence people, there is a demand for experts who can navigate economic circumstances. And for that, you have to get a degree in economics. It will allow you to make sense of emerging policies and then use that information to make accurate decisions.
Usually, an economics degree covers micro-and macroeconomics, giving you an idea of market dynamics. Besides this, you will also study statistics, banking, economic analysis, and legal regulations. Some economics programs have substantial math components; hence, make sure your numbers game is strong enough.
6. Human Resources
Every company needs qualified and engaged employees, but that doesn’t come automatically. Employers need a separate team of professionals to manage human relations, known as the human resources (HR) department. And if you have impeccable people skills, this could be the ideal specialization. Studying HR will help you contribute to the company’s success in areas of employee retention and conflict management.
Moreover, you will learn how to motivate employees and equip them with skills needed for job improvement. You will also learn to conduct interviews, recruit candidates, and improve workers’ morale. The HR field is increasing, with projected job growth of 6% and a median annual salary of $121,000. However, you have to start in a specialist position and work your way to the top.
7. Project Management
Surprisingly, careers in project management rank highest in terms of job openings and workplace satisfaction. Thus, this could be a specialization to consider. Project management is mainly studied as a single major since it lacks a comprehensive course outline. Project managers have to plan, oversee, complete, and execute projects within a company. In addition, they have to ensure that project objectives and budget constraints are met.
As project managers have to work with teams, communication skills are necessary. You should be able to talk to employees openly in a persuasive tone. Also, you have to brush up on your budgeting and costing skills to ensure that projects get finished within the given budget. Project managers earn around $49,000-$112,000, depending on years of experience and qualifications.
With saturated job markets, making a career choice has become more challenging than ever. Some people want job security, whereas others want to pursue a field that aligns with their interests. In 2022, employers are creating a variety of new and exciting roles for graduates. Whether data analytics or finance, every field has several job openings. So, you have to explore different specializations within the business field and choose the right career.