Business studies is a multidisciplinary subject concerned with the study of commerce, economics and industry. A business studies degree covers areas such as finance, management, economy and consumer attitudes on both a global and local scale.
Business degrees provide a theoretical and practical knowledge of the business world whilst also allowing you to specialise in your areas of interest. As such, if you want to learn about business or entrepreneurship from an academic perspective, a business studies course is a great way to advance your understanding.
Students of business studies will need to have an aptitude for maths and statistics as well as data analysis, problem-solving and critical thinking. If you hope to work in business management, communication and leadership skills will also be essential.
Subjects related to business studies include business administration, business management, management studies, commerce, human resource management, finance, marketing and hospitality management.
An undergraduate business studies degree typically takes three or four years, depending on your study location, degree and study mode. At the postgraduate level, courses in business studies are commonly one to three years long.
Business degrees such as business studies, business administration and business management can be studied at certificate, diploma, associate degree, bachelor’s degree, master’s degree and even PhD level.
Business studies degrees are primarily taught through a mixture of lectures, seminars and tutorials. Assignments often include presentations and group work. You may also be expected to complete one or more work placements as part of your business degree.
Some areas that you may cover in a business studies degree include:
1. Business theory in administration and management
2. Business law
3. Finance, accounting and data analysis
4. Marketing
5. Customer psychology
6. Global economics
7. Ethics and sustainability
If you want to study business studies abroad, you must meet some basic entry requirements. These may vary between institutions, but generally, undergraduate business studies degrees require:
1. Minimum 3 A-Levels (or equivalent).
2. Grades equivalent to BBB at A-Level/International Baccalaureate score of 32 points (although some universities may accept lower).
3. IELTS overall score of 6.5 (or equivalent) with no band score lower than 6.0 A high grade in GCSE maths (or equivalent) may also be required at some institutions.
A postgraduate degree in business will usually require you to have attained a 2:1 in your undergraduate degree. Always check with your prospective university or business school as to the acceptability of your current qualifications.
If you hope to study business studies abroad as an international student, why not explore some of the best business schools globally? According to the QS World University Rankings* by subject, the best universities in the world for studying business and management are:
1. Harvard University (USA)
2. INSEAD Business School (France)
3. London Business School (UK)
4. Stanford University (USA)
5. Massachusetts Institute of Technology (USA)
If you have your heart set on enrolling on a business studies course in the USA, the U.S. News and World Report suggests the best schools for undergraduate business programmes in the USA are:
1. University of Pennsylvania
2. Massachusetts Institute of Technology
3. University of California, Berkeley
Meanwhile, if you are interested in studying business studies in the UK, the Complete University Guide ranks the top universities in the UK for business and management as:
1. University of Oxford
2. King’s College London
3. University of Bath
The majority of business courses cover a wide range of content, and most students will be expected to complete a placement if they are studying an undergraduate course and be allowed to choose from a wide range of module options.
Studying business studies overseas will make you an attractive candidate for a variety of roles across several industries. Or, if you dream of becoming an entrepreneur or a successful business owner, a degree in business studies will provide you with the skills and knowledge to start or improve your own business.
Graduates with a bachelor’s degree in business studies or business management in the UK can typically expect to earn in the region of GBP 19,000 to GBP 25,000 as a starting salary. However, with experience and/or a postgraduate qualification, salaries can rise significantly, with practised business analysts, for example, earning upwards of GBP 80,000.
Many business studies graduates also find they have scope to work internationally if they wish. Some of the roles you might pursue as a graduate with a business degree include:
1. Business management
2. Project management
3. Business analytics
4. Finance and accounting
5. Human resource management
6. Public relations
Business studies graduates often work in environments such as:
1. Private sector businesses
2. Public sector and government
3. Charities and NGOs
4. Accountancy firms
5. Financial firms