There has been a growing interest in the business major in many universities around the U.S. In addition to the growing number of domestic business schools, many similar programs in other countries are emerging.
Students feel business is an important aspect of today’s society, especially in a capitalist economy. “I decided to pick up a second major in business because I feel like it has a hand in everything. Behind everything there is a ‘business’ side to be handled,” Ronald Johnson, Jr., a junior in business management and psychology, said. “This field has limitless opportunities. I wanted to pursue a degree program that would prepare me for the corporate world and the business challenges of tomorrow. With the college’s emphasis on technology, it seemed like a perfect fit for me and my future goals.”
On the other hand, students with a business major do not make up the majority of students at the University. Its popularity is growing, but the situation at each university is distinctive. “The situation at N.C. State is somewhat unique. At most large, research-oriented public universities, roughly 20 percent of undergraduates major in business,” Steve Allen, associate dean for graduate programs and research in the College of Management, said. “At N.C. State, the ratio is about 10 percent. This reflects the fact that the business school at State is relatively new, along with the heavy emphasis on science and engineering at State.”
According to CNN, business school officials say there is a thinning supply of people with doctorates in business but there is a growing demand for their services worldwide. At NCSU, Allen said, the case is different. “I do not actually believe there has been a decrease in the supply of sections to students. Overall enrollment levels in the College of Management have stayed roughly constant over the last 10 years,” Allen said.
Allen also said since business schools are emerging worldwide “the talent pipeline has not had a chance to catch up.” In terms of competitiveness, business schools tend to rate highly. NCSU’s business school is no different. “Selection is very competitive at [NCSU]’s business school, both for undergraduate and graduate level programs,” Allen said.
Requirements to apply to business school this year for on-campus and off-campus transfers are one year of college work, freshman English and a calculus course with a C or better and a GPA in the range of a 3.0 or better. For freshman admission, it is part of the University admission, but the average GPA of incoming freshman was a 4.17 and about a 1200 SAT score. This year, the applications for freshman admission to the College of Management were 30 percent higher than the year before. “I would say that applying to the business school is rather competitive in relation to other colleges here at [NCSU]. Many of them only require a 2.5 GPA. When I applied, you had to have a 3.0 and a certain number of credit hours,” Johnson said. Erin Dixon, director of admissions in the College of Management, said part of the program’s competitiveness spurs from the limited amount of resources. “It’s honestly a supply and demand issue. We only have a limited amount of resources from the University that come from resources from the state. We only have so much faculty and so much space,” Dixon said. “Any time you have limited faculty and space, the competition will go up.” Another reason students are being pulled into the business major is because of its increasing demand in the workforce. The different business concentrations available create a wide variety of job opportunities for students after graduation. “I think everyone realizes that having a business degree will be beneficial one day. When I went to the career fair this past month, so many employers were looking for people with business degrees in general,” Kristen Ertz, a junior in business management with concentrations in marketing and human resources, said. “There seems to be a lot of opportunities out there for business majors.”
Johnson also believes this and feels having a business major will not go to waste.
“It’s simple. People want to make money. Some have that entrepreneurial spirit while others want to work on Wall Street,” Johnson said.
He said even if a student does not go into the business field after graduation, the information they learned from this major will be beneficial in whatever career they pursue.
In regards to pursuing higher degrees in business, both Johnson and Ertz hope to achieve them one day. They both feel the expenses may be discouraging for some, but getting those higher degrees will lead to another level of success.
“Today’s colleges are ‘saturated’ with business majors. I have heard a few times from some business professionals, which is why it is important to be able to stand out in this business world of young professionals,” Johnson said.
According to U.S. News & World Report, the University’s undergraduate business school was tied for 80th in the nation in 2003, and in 2004, the MBA program was tied at 65th with four other universities.
