In the United States, a business degree is still the most popular degree. According to the NCES, it’s the most awarded degree since 2012 – and for good reasons, too.
Business degree holders can pursue in-demand, high-paying business and finance occupations. The median wage for these occupations is $79,050/year but can be as high as $99,580/year (BLS, May 2023).
Indeed, now is your best time to consider earning a business degree.
However, it can take at least four years to earn it in a traditional program. Fortunately, you can shorten it to 1-2 years in an accelerated business degree program.
In this article, we’re going to discuss the accelerated business degree career benefits. We’ll also discuss how an accelerated business degree boosts job prospects.
Related:
- Top 10 Accelerated Business Degrees for Quick Career Advancement
- Industry Demand for Accelerated Business Degree Holders
- The True Cost of Accelerated Business Degrees: Are They Worth It?
- Is an Accelerated Business Degree Right for You?
What Is an Accelerated Business Degree Program?
Definition and features
This has a condensed curriculum for a shorter time to completion, usually 12-18 months. However, the condensed curriculum means intensive coursework. The courses cover key business areas, including management, finance, and marketing.
Program formats
Accelerated programs are available in different formats, including:
- In-person, the traditional classroom learning format
- Hybrid, which combines in-person and online classes
- Online, which allows students the flexibility and convenience of online learning
These programs can also be offered in either a cohort-based or self-paced model.
Target audience
Accelerated programs are geared toward:
- Professionals seeking career advancement or career shift
- Students who want faster entry into the workforce
- Entrepreneurs and business owners who want to develop their business skills
- Military and veteran students who want to qualify for business positions
Indeed, everybody is welcome to enjoy these fast-track business degrees for career growth.
Key Skills Gained in an Accelerated Business Degree Program
Here are the key skills gained in accelerated business programs that students develop. In fact, developing them is the foremost of the accelerated business degree career benefits.
Leadership and management
You’ll develop the ability to lead teams and manage projects effectively. Collaboration is essential in business. These are vital skills for success.
Analytical and critical thinking
Your data-driven decision-making skills become more effective. This is because you’ll learn data analysis to make informed business decisions.
Communication and interpersonal skills
You’ll master written, verbal, and nonverbal communication in professional settings. This is valuable because communication is at the heart of human interactions.
Strategic planning and problem-solving
Your organization will benefit from your improved ability to create business strategies. Being able to address organizational challenges also becomes part of your skill set.
Technical proficiency
You’ll become familiar, if not proficient, with business software and tools. Think data analysis programs, CRM systems, and Microsoft Excel.
Knowledge Areas Covered in Accelerated Business Degrees
There are many opportunities for career advancement with an accelerated business degree. But it’s your ultimate responsibility to highlight your knowledge and skills. Be sure to learn from and maximize your lessons in these key knowledge areas.
Core business disciplines
Like traditional programs, accelerated programs also cover core business concepts, including:
- Marketing
- Finance
- Management
- Accounting
- Economics
Note the fast-paced coursework demands more time, effort, and motivation.
Specialized tracks
Many accelerated programs offer concentrations in diverse areas, including:
- Supply chain management
- Entrepreneurship
- Business intelligence and analytics
- Healthcare management
Global business perspectives
We live in a global community of businesses. Gaining a global business perspective is vital for success in business. You’ll gain an understanding of international markets and cross-cultural management.
Ethical and sustainable business practices
You’ll learn that ethical and sustainable business practices aren’t only lip service. Instead, these are vital for business success, too. Corporate responsibility is at the heart of it.
How an Accelerated Business Degree Enhances Career Prospects
Faster Entry into the Workforce
If you earn your degree sooner, you can enter the workforce faster. You can grab job opportunities sooner than your peers, too. Think of it as a head start in your career.
Meeting Employer Demand for Skilled Professionals
There’s a high employer demand for business degree graduates. Projected growth for business and finance occupations is faster than average. This means about 963,500 openings every year (2023-2033, BLS).
But it isn’t just any business degree holders employers are looking for. Employers look for business graduates with versatile skill sets. You must develop the key skills mentioned above during your business studies.
Career Flexibility
Graduates of accelerated business degree programs online can relate to career flexibility. You can work in a wide range of industries, whether in the public or private sector. Finance, healthcare, technology, and marketing are popular industries.
Preparation for Leadership Roles
Yet another of the advantages of fast-track business degrees is effective leadership preparation. Besides business skills, you’ll learn leadership skills, too. Both are vital to succeed in executive and managerial positions.
Competitive Advantage
These leadership and business skills that enhance employability are your competitive edge. Earning a business degree also demonstrates your commitment to lifelong learning. You can also highlight your efficiency and ability to thrive in high-pressure settings.
Popular Career Opportunities with an Accelerated Business Degree
There are numerous career opportunities with an accelerated business degree.
- Management analysts
- Median Salary: $99,410/year
- Role: Analyze business operations and improve efficiency
- Marketing managers
- Median Salary: $156,580/year
- Role: Oversee marketing strategies and campaigns.
- Financial analysts
- Median Salary: $99,890/year
- Role: Provide individuals and organizations with investment advice and evaluate financial data for decision-making purposes.
- Human resources managers
- Median Salary: $136,350/year
- Role: Manage employee recruitment, training and development, and retention, and oversee employee relations and organizational development.
- Entrepreneurs or business owners (so-called self-employed business professionals)
- Role: Launch and manage successful businesses.
Advantages of Accelerated Business Degrees for Working Professionals
Balancing work and study
Flexible schedules, asynchronous courses, and self-paced study. These are common features in online and hybrid programs. Working professionals can continue working while studying.
Immediate application of skills
Students can apply their lessons in real time at their workplaces. These include new business skills and strategies. Students can also bring their workplace experiences to enrich classroom discussions.
Networking opportunities
Peers, professors, alumni, and industry leaders are excellent sources of referrals and mentorship. Build your network, too, by creating meaningful connections.
Cost efficiency
A shorter time to earn your business degree means a lower cost of attendance. You’ll pay less in tuition and fees, books and supplies, and living expenses.
Challenges of Accelerated Business Degrees
You can enjoy accelerated business degree career benefits, but you must be aware of these challenges, too.
Intensive workload
Accelerated programs aren’t for the lazy, weak of heart, and unmotivated. It’s a challenge to manage more courses in a term or faster course completion. The fast pace means more study time and effort, too.
Balancing commitments
If you’re a working professional, you’ll struggle with getting a good work-life balance. You must meet work obligations and family responsibilities. On top of them, you must also get good grades to earn your business degree. Time management isn’t only a buzzword – it’s an effective strategy here.
Limited time for in-depth exploration
Fast-paced programs with their condensed curriculum usually don’t allow for detailed study. If you’re looking for depth and breadth in business education, look elsewhere.
Tips for Succeeding in an Accelerated Business Degree Program
But don’t be discouraged by these challenges either. Keep these tips in mind to overcome them.
Effective time management
Create and follow a structured schedule for your coursework, assignments, and exams. Be flexible as unexpected events happen, nonetheless.
Leverage support systems
You’re not alone in your journey either. Seek help from your peers, professors, and advisors when needed. Take full advantage of student support services and resources.
Stay organized
Your organizational skills are as crucial as your time management skills. Use tools, such as task management and productivity tools, to keep up with your commitments.
Engage actively in networking opportunities.
Build your connections by attending events and joining alumni groups. Being connected with professionals also makes sense.
Focus on career goals.
You must choose courses and internships based on your career plans.
Examples of Accelerated Business Degree Programs
Check out these outstanding accelerated business degree programs.
- University of North Carolina – Online MBA Program: Candidates can earn a respected MBA degree in 12-18 months. The program emphasizes leadership, strategy, and global business.
- Purdue University Global – Accelerated Bachelor’s in Business Administration: Students complete the program in as few as 18 months. The program offers the flexibility, convenience, and affordability of an online learning format. Students swear by the industry-focused coursework that prepares them for the business world.
- Northeastern University – Fast-Track Business Degree: The co-op opportunities and global business exposure set Northeastern’s program above the rest. Students complete the program in 12-15 months.
Conclusion
In conclusion, accelerated business degree programs provide a fast-tracked route for ambitious individuals. You’ll gain the vital business knowledge and skills for success in diverse occupations. Your business competencies are what employers look for.
