By: The Capella Editorial Team with Bradly Roh, PhD, DBA and Interim Dean and Vice President for the School of Business, Technology and Health Care Administration

Reading Time: 9 minutes

Business is one of the most versatile career paths. It touches many industries and could lead to highly varied job opportunities. A degree in business can help give you the tools to pursue roles that require leadership, problem-solving and strategic thinking.

Given how popular business degrees are, universities offer many types along with specializations and concentrations. But how do you know which one is right for your career path?

The first step is understanding what each level and type of business degree offers, and where your circumstances and goals fit in.

To help with this, we’ve created a guide about why it’s worth earning a business degree, the different types of business degrees, specializations within each type and how to choose the right program for you.

Reasons for earning a business degree

A business degree focuses on the principles and practices of managing organizations effectively. It gives you a solid foundation in management, finance, marketing and other areas that affect how a business works.

Whether you choose an online business program or an in-person one, you gain a mix of technical knowledge and vital soft skills, including communication, teamwork and leadership.

These skills enable you to:

• Broaden your opportunities: Business degrees teach you versatile skills like data analysis, financial literacy and strategic communication that can open doors to many industries.
• Get real-world experience: Many business majors combine theory with internships, projects and case studies to prepare students for the workplace. So you gain practical experience and also build professional connections.
• Prepare for entrepreneurship: If you’re an aspiring business owner, a business major gives you the knowledge you need to help set your company up for success. For example, as part of his business degree at Capella University, Cedric J. Moses completed a capstone project that inspired his future business pursuits.
• Build lasting value: Business degrees offer a variety of professional paths with opportunities for long-term growth. You develop valuable transferable skills, so you can adapt as industries evolve.

A business degree can help you thrive in your professional journey. To acquire the skills and knowledge you need for your specific career goals, you can enroll in a business program at different levels and specializations.

The different types of business degrees

Business degree programs are offered at bachelor’s, master’s and doctoral levels.

Bachelor’s degrees in business

A bachelor’s degree is the first step to building strong business fundamentals and leadership skills. It’s ideal for both recent high school graduates and working professionals who want a foundation in how organizations function.

At this level, you can pursue either a Bachelor of Science (BS) in Business or a Bachelor of Arts (BA) in a business-related field.

A BS focuses on technical knowledge and practical experience, while a BA offers a broader, more general education that includes subjects in the humanities and social sciences.

Specializations of BS in business degrees

• Accounting: A BS in Business, Accounting program teaches you about financial planning, auditing and budgeting.
• Business administration: A BS in Business, Business Administration is a generalist path that covers management, strategy, operations and more, so you gain the skills to collaborate and make data-backed decisions.
• Finance: A BS in Business, Finance program prepares you to pursue career opportunities in banking, corporate finance, financial management or investment management.
• Health care management: A BS in Business, Health Care Management program covers comprehensive health care operations skills and knowledge.
• Human resources management: A BS in Business, Human Resources Management program teaches you how to hire and support employees, manage change, establish HR policies and contribute to organizational development.
• Management and leadership: A BS in Business, Management and Leadership program prepares you to drive business results by developing skills related to strategic management, resource allocation and team development.
• Marketing: A BS in Business, Marketing program equips you with the skills to help build strong brands and craft effective marketing strategies.
• Project management: A BS in Business, Project Management program can help you develop the leadership and organizational skills to transform business goals into productive outcomes.

Business majors can also specialize in other well-known fields, including marketing, project management, data analytics and supply chain management.

Once you’ve completed a bachelor’s degree, you can start working to gain experience or move on to a master’s degree to gain advanced knowledge in your chosen field.

Master’s degrees in business

A master’s degree in business is a great choice for professionals who want to pursue upper-level management or leadership roles. It helps improve strategic thinking and management skills.

These programs typically require a bachelor’s degree and, in some cases, professional experience or GMAT/GRE scores.

The Master of Business Administration (MBA) is the most popular master’s degree for business.

Capella’s MBA degree specializations

• Self-designed MBA: Rather than getting a generic, standard MBA degree, you can enroll in Capella’s Self-Designed MBA program to tailor your education to your professional goals. Capella’s program teaches you the fundamentals and then lets you customize the elective courses, so you pursue what matters most to you.
• Health care management: An MBA in Health Care Management prepares you for leadership and effective decision-making in health care administration through skills-based learning.
• Human resource management: Pursue HR leadership by learning how to align the workforce with business goals and drive employee growth in the MBA in Human Resource Management program.
• Project management: Learn the concepts and methods used to lead complex projects through an MBA in Project Management.

Another master’s degree option for business is the Master of Science (MS). For example, you can get an MS in Human Resource Management (HRM) or an MBA in Human Resource Management to specialize in HR. Explore the key differences between an MBA and an MS in HRM to find the best fit for your goals.

In general terms, an MBA is a broad, leadership-oriented degree, while an MS gives you in-depth, highly specialized knowledge in a specific area.

Doctoral degrees

A doctoral degree is the highest level of academic achievement. Doctoral programs in business focus on advanced theories, research and strategies that drive organizational success.

You can pursue two types of doctoral degrees for business: a Doctor of Philosophy (PhD) in a business-related field, like a PhD in Business Management, or a professional doctorate, such as Capella’s Doctor of Business Administration (DBA).

A PhD is a research doctorate, built for people who want to research, develop or teach business theories. A DBA is a professional doctorate developed in an applied setting, designed to solve current business problems.

Explore the difference between a PhD and a professional doctorate to determine which path is right for you.

If you want to pursue the top of your profession or industry, then a Doctor of Business Administration is a great option.

Specializations in DBA degrees

• General management: A DBA in General Management teaches business leaders how to apply theory to tackle the real challenges involved in managing and structuring organizations. You use management-focused literature and projects to develop your strategic planning skills and drive change in your business or industry.
• Organizational leadership and development: A DBA in Organizational Leadership and Development teaches you how to effectively lead organizational change. Here, you explore the latest leadership theory and practices and design projects to improve organizational effectiveness.
• Strategy and innovation: A DBA in Strategy and Innovation degree teaches you how to become an innovative leader with original ideas by learning strategic thinking.

A DBA empowers leaders to apply advanced research and strategic insights to solve real-world business issues and drive meaningful organizational impact.

How to choose a business degree

The right program should align with your long-term goals, match your preferred learning style and give you the practical experience you need. Whether you’re aiming for a leadership role, preparing to launch your own business or expanding your current skill set, evaluating the key features of each program can help you make an informed decision.

Focus on these five main factors to find the program that best supports your career ambitions and lifestyle:

• Identify your career goals: Decide whether you want to work in corporate leadership, finance, management or start your own company. Select a program that aligns with your passions and career ambitions.
• Review the curriculum: Compare programs to understand the subjects covered and the teaching approach. Determine whether the coursework emphasizes theory, practical application or a combination of both. Look for programs that offer real-world learning opportunities, such as internships and projects.
• Consider learning formats: Enroll in on-campus programs if you want to become a full-time student. But if you want to learn and grow while still working, an online program is a practical option.
• Evaluate flexibility: Decide if you need part-time, online or accelerated study options to fit your life. Also, consider the different kinds of online programs. At Capella, you can complete courses at your own pace through our FlexPath learning format or opt for the structured GuidedPath format.
• Check accreditation and reputation: Consider whether the university has the necessary accreditation and a good reputation. Accredited institutions ensure quality education.

When exploring business programs, consider a university that holds specialized accreditation by the Accreditation Council for Business Schools and Programs (ACBSP) and, where applicable, the Project Management Institute (PMI) Global Accreditation Center for Project Management.

Ultimately, the best business degree and specialization is one that balances your interests, career goals and practical needs.

Level up with a Capella business program

Every business degree offers a different path, but they all lead to growth. Whether you’re interested in management, entrepreneurship or specialized fields like finance or marketing, the key is finding a program that aligns with your career goals and lifestyle.

At Capella University, an accredited institution, you can choose from online business programs at the bachelor’s, master’s and doctoral levels. Each program is designed to help you gain relevant, real-world skills and pursue career opportunities without putting life on hold.

Explore Capella’s online business programs and take the next step toward your professional goals.

FAQs

What type of business degree is best?

The best business degree is the one that matches your interests and long-term goals. If you’re drawn to strategy and big-picture thinking, a management or leadership program may be the right fit. For those who enjoy numbers and analysis, finance or accounting degrees can open doors to corporate or investment careers. If you’re entrepreneurial, a marketing, business administration or entrepreneurship degree can help you launch and grow your own business.

Which is better, a BA or BS in Business?

A BS in Business focuses on specialized technical and analytical skills. A BA in Business offers a broader education with a focus on theory and soft skills. You can choose which one to pursue based on your interests and career path.

Which degree is good for business?

A BS in Business, Business Administration is a great starting point for most business professions. It builds core skills in management, finance, marketing and leadership that apply across industries.