Lots of people like the idea of working in a business environment, but it’s often hard to know which field to choose to specialize in. Also known as a speciality, a field is an umbrella that holds a number of different career paths together. Accounting is one example of a field. The field of accounting includes roles like auditors, public accountants, forensic accountants and many more. Choosing the right field to work in can often be harder than it sounds, but it’s an essential step that comes before starting a career in business, and usually before starting a degree too. If you want to know how to choose the perfect business field for you then keep reading below:
Why Choose a Career in Business?
Business is currently one of the most popular fields of study around the world, particularly at graduate level. There are lots of reasons why people choose a career in business. Not only are business graduates in demand, but careers in this sector are often highly paid and diverse too.
Most business degrees are designed to encompass a fairly wide group of programs, but some programs are more specialized. This is why it’s so important that you do some research into the different options available to you before you get started.
If you’re interested in a career in business but you don’t know what field you want to work in, then the best place to start is by finding out a little bit more about the different fields and which ones are the most popular. Click here to find out which MBA concentrations score big in the business world. Choosing the right course is essential if you want to have a long and happy career.
How to Choose the Right Field of Business for You
Lots of students struggle to know which field of business they want to go into. They love the idea of working in a business environment, but there are so many different roles available that choosing just one is difficult. Well, don’t panic. Here are some of our top tips to help you:
- Think about the things you most enjoy doing in everyday life. For example, if you enjoy talking to people, then a career in marketing may be a good choice for you, but if you enjoy math and puzzles, then a career in finance might be more suited. Choosing a field that you’ll enjoy working in is extremely important. There are a number of reasons why people end up on the wrong career path. They may have chosen a job because of the salary it offered, or simply because it seemed like a good choice at the time. Children are usually taught that they should choose a career in something that they are good at but the problem is that people are often good at multiple different things, and we’re usually passionate about more than one thing too. Students who are choosing which field of business to work in should consider what their passions are as well as what they’re good at.
- Once you know what your interests are, start looking into different business fields to see which one you think you’d enjoy the most. We’ll go into the different business fields in a bit more detail a little bit later.
- Think about your background and personality – when you’ve got an idea of what you’re looking for in a career, you can start to evaluate your qualifications for jobs in this area. Two important factors you need to think about when choosing an ideal path are your personality and your background. Both of these things should be taken into account, but depending on the career you choose, your personality is usually more important than your resume. Holding a degree in a specific area will help you to get a job, but not having one won’t automatically stop you from getting a role. A person who is willing to learn and has a good attitude can often get a role even without any formal education in a specific field.
- Before choosing which field of business to study you should spend time thinking about the times in your life that seem to pass by quickly. This is known as a flow state and it marks lengths of time of heightened happiness and concentration. If you’re happy in your job role then the time spent at work will fly by.
- You could also consider talking to your family and friends. Ask them for their honest views on your passions and skills. Many of us find it easier to observe other people around us than we do to know ourselves.
The Most Popular Business Fields in 2020
If you’re feeling lost about which business field to choose, don’t worry. To help you make a decision we’ve made a list of some of the most popular business fields you could choose from:
- Accounting – this is one of the most popular fields you could choose to go into. As the economy continues to grow, so does the demand for qualified individuals working in this field. In fact, projected growth in this field is likely to exceed 10% in the next ten years. Accounting involves analyzing, recording and reporting the financial transactions of a business. This is important as businesses need this information in order to plan for the future and make strategic financial decisions. From ensuring financial records are kept up to date to making sure that companies pay their taxes on time, accounting is an indispensable function in every organization no matter how large or small it may be.
- Economics – Economics studies the allocation of scarce resources like energy, goods, money and services. They study how businesses, people and governments use and allocate resources. Some of the main concepts economists deal with are supply and demand and incentives. Economics graduates can choose to work in the government, businesses, research firms and think tanks. If you enjoy solving problems and you’re good at spotting trends, then the field of the economy may be the perfect business field for you.
- Finance – a career in this field relates to the management of funds, money and wealth, be it for an organization or an individual. If you choose to work in this field, you’ll be expected to understand concepts like borrowing, lending, budgeting, saving and investing. All of these things are important in the management of money. Finance graduates will be able to work in a range of industries including banks, the government, consultancy institutions and trading companies. If you’re interested in the stock market, investments and bonds and you’re comfortable taking calculated risks, then a career in finance might be a great choice for you.
- Marketing – a career in marketing involves noticing, creating and communicating the value of a company’s services or products to a specific audience. From the billboards you pass while driving down the highway to the coupon codes you receive in your inbox, marketing strategies are needed by companies all around the world in order to make sales. As marketing is a crucial part of any business, marketing graduates have the ability to work in almost any industry they choose. This can include property, education, financial services, manufacturing and logistics. If you’re adaptable, have an eye for detail and you’re creative, then marketing may be the perfect field for you.
- Management – lots of people like the idea of working in this role. Management is a fairly broad field that looks at implementing business concepts to ensure that a business runs correctly. Managers have to know how to take care of a business resource in order to achieve objectives. This can include knowing how to organize, plan, control and direct business operations. There is a huge range of career opportunities available to people who choose to work in the field of management. If you’re interested in learning about business strategies, you have good communication skills and you’d love to run your own business one day, then a career in management may be a great choice for you.
- International Business – whether you like the idea of being able to live in different countries around the world or you simply want to learn about the international market, this is a brilliant choice for you. It covers a range of general business management solutions including finance, accounting and marketing as well as legal, cultural and political conditions that may affect the running of a business. This field of business is becoming increasingly popular as many companies today now operate on a global scale. There’s a large range of career opportunities available to people who study this field, including working as a business consultant, a strategy analyst or an international relations officer. If you like the idea of learning about how businesses operate around the world and you have strong communication and analytical skills, then you should definitely look into the field of international business.
No matter which area of business you choose to specialize in, you can rest assured that each area of business has its own set of unique challenges and rewards. And, each of them is fulfilling in their own way.