In our last blog on niche business degrees for future entrepreneurs and world leaders, we explored 5 degrees that are making a difference for college scholars. In this article, we add 5 more important majors to the list. With a growing need for global studies, financial management, and innovation, students who have credentials in business will find jobs faster and earn top salaries in the field. As we discussed in Part 1 of this 2-part blog series, students can use articles like these and others as part of their career exploration and planning, but counseling, university searching tools, and other supports are necessary as students make decisions about their postsecondary plans. Anyone advising students about majoring in business should know about the previous 5 majors as well as the following 5 from our research. 

Financial Technology 

Financial technology (FinTech) majors exist at the intersection of finance, coding, data science, and regulation. FinTech prepares students to work in evolving industries where traditional finance meets disruptive technology. Programs cover everything from principles of business finance to blockchain and machine learning. Graduates can expect to work at large or small firms as asset managers, big technology companies, or startup ventures. Top schools include University of Pennsylvania Wharton, which has a concentration in AI and University of Texas at Austin, which has both a major and minor in FinTech. 

Digital Business Development 

Digital Business Development is an emerging major that blends concepts from marketing, technology, innovation, and entrepreneurship. It’s ideal for students who want to drive online growth, create digital products, or lead transformational technological advancements. Core subjects include digital marketing, E-commerce, mobile app development, and growth strategies. Students learn about the use of online communication tools, such as HubSpot and Salesforce as well as the inner-workings of brands like Amazon and Shopify. 

Strategic Human Resources 

Unlike traditional human resources programs, Strategic Human Resources (SHR) degrees go beyond payroll and benefits and into people systems, talent development, culture, diversity, and performance management. Students study the mindset necessary to lead organizational behavior. Concepts such as branding and succession planning emerge as scholars acquire the skills to manage employee engagement and incentive design. Careers can include People Analytics Analyst at approximately $85K and Chief Human Resources Officer (CHRO), which can earn above $150K annually. Penn State boasts a program in SHR called Human Capital Management, which teaches students how companies can invest in their employees to maximize their potential by contributing at the highest level to achieve business and financial goals. 

Conflict Resolution 

Students in Conflict Resolution majors learn the theory and practice of resolving disputes between individuals, groups, companies, and nations. The focus is on understanding conflict dynamics and the skills to de-escalate, mediate, and transform relationships in an effort to bargain for and benefit from positive outcomes. There are a wide variety of jobs available for graduates with this degree or concentration, including schools and universities, courts and legal systems, government agencies, and corporations. Students might also consider a law degree after completing their bachelors. The Carter School at George Mason University is said to have the best programs in Conflict Resolution for three levels: bachelor’s, master’s, and doctoral. 

Luxury Brand Management 

Luxury Brand Management majors study how to build, position, and sustain luxury brands in global and expanding markets. Exclusivity, heritage, status, and emotional appeal are key drivers in strategy, marketing, and management of high-end brands. Students with this major will work in industries such as fashion, cosmetics, jewelry, hospitality, automotive, and more. Students can expect to take classes in consumer behavior, design thinking, market research, storytelling, and even psychology. Glion in Switzerland offers bachelor’s and master’s degrees in Luxury Business. Students should consider the utility of this degree beyond just working for a luxury brand; any high-end product or service is in need of future leaders to support business development and brand management in the luxury space. 

Conclusion

Several themes standout with these niche business programs. People management, brand recognition, and technological advancement are huge aspects of the future of business management. How do we optimize and incentivize human capital? What makes a firm more attractive to top talent when comparing employment options? Which technological innovations will drive revenue and growth? Answering these questions and others will provide the next generation of graduates with a competitive edge in their search for the best jobs with the highest earnings. These top niche majors don’t all go by the same names; some programs have unique titles, making the descriptions of the majors and concentrations super important for students to explore and understand. 

The key to finding the right school and the program with the best fit is uncovering students’ skills and interests and conducting a search that meets their financial and geographical needs. If you’re interested in tools that make it easy for students to compare universities and majors, set up a demo with MaiaLearning or consult with one of our thought leaders by setting up a virtual meeting.