The Best Prep for the Real World: Business or Liberal Arts?

by
Content Marketer, ValuePenguin

Choosing a major is a challenge for many college students, and as students are diving into their fall semester, many are still struggling to decide what to study. With the value of a college education under attack, being highly engaged in your college path will result in a more favorable outcome. While many want to follow their passions in liberal arts, some argue it’s more practical to study business. There are also arguments for studying both business and liberal arts.

If you’re struggling to decide between liberal arts and business, make sure you weigh the pros and cons of your choices before making a decision. Changing your major later can delay graduation, result in additional tuition expenses, and/or cause you to take courses that won’t aid in achieving your degree. To help you understand the advantages of each path, here’s a look at both courses of study and how they can both prepare you for your future. 

Majoring in Business

A Business degree is an excellent fit for those with an entrepreneurial spirit or a passion for business. Often promising a higher future salary (with a median entry-level pay of $68,350), majoring in Business is appealing to many. In addition to pay, students with Business degrees are in high demand, as many companies prefer to hire employees with formal business training. A Business degree shows companies that the employee is dedicated to achieving long-term goals and willing to learn, both attributes that are desirable in employees. 

Related: The Expert’s Choice: Great Places to Study Business

Studying liberal arts

Liberal arts studies include Communication, Mathematics, History, Language, Economics, and other non-specialized fields. Unlike a Business degree, which teaches tangible skills like accounting practices and business law, liberal arts emphasize what’s known as “soft skills.” Learning how to communicate effectively, interpersonal skills, and problem solving are three benefits of studying the liberal arts. Too often Business study teaches a black-and-white way of looking at a problem, while liberal arts fields tend to teach you how to understand, work through issues, and communicate thoughts through productive conversations and actions.  

Related: Liberal Arts Change Lives

Business or liberal arts: Which should you choose?

Following either a liberal arts or business path offers students numerous benefits, but the truth is neither encompasses allthe skills you need to be successful professionally and personally after graduation. Graduates from either major can find themselves without the specific skills necessary to be the best versions of themselves.  

While Business graduates understand how to apply tools and numerical models to their everyday lives, they often don’t know or understand what drivestheir colleagues or customers to make choices. Liberal arts graduates, on the other hand, are trained to communicate, observe, and dissect what others want or need. However, they may be lacking in the specific training and problem-solving skills needed for a company.

You may have never thought about double-majoring before, but taking a combination of both types of courses could be the best option for your personal and professional growth. Here are six benefits of studying both fields during college and into adulthood:

1. Increased flexibility

Those who have a diverse education are often more flexible when it comes to accepting change after college. That’s because they’ve learned critical-thinking skills that guide them in working through the changes.

2. Increased financial acumen

Those with a background in business typically understand numbers and are positioned to make savvy financial decisions—professionally and personally. When you pair that with a background in the liberal arts, you also have the ability to work through hurdles such as figuring out when it’s best to ramp up your savings and creative ways to earn extra money. 

Related: 3 Easy Steps to Becoming a Money-Saving Whiz in College

3. Better habits

Good habits are the key to a successful life. Students who study business and liberal arts are exposed to more viewpoints and are likely to approach life from a well-rounded vantage point. When you enter the real world with healthy habits, it’s easier to find success in your career and adapt to new expectations as they arise. 

4. Greater understanding of numbers

It’s one thing to know how to manipulate and calculate numbers in an accounting or finance career, but it’s entirely different knowing how to evaluate and apply them. The latter set of skills are learned through liberal arts classes, and putting both together makes for a winning combination.

5. Combining practical and analytical skills

The rigor of pursuing multiple majors can prepare you for excellence in other areas of your life, including those outside the working world.

For example, one area in your personal life that will require business savvy and critical analysis is purchasing a house. During this process, you may be faced with a variety of decisions, including deciphering documents like mortgages and insurance policies. According to a study by ValuePenguin.com, only about half of policyholders understand their coverage, and 90% never compare rates, which puts them at a risk of overpaying.

With business and liberal arts practicalities, you may be more inclined to question the policy and do your homework when it comes to the numbers, leaving more money in your pocket.

6. Opportunity to be more culturally adept

By studying both business and the liberal arts, you’ll have a more diverse set of teachers and classmates to learn from. This makes it easier to transition to a career where you’ll interact with individuals from many different backgrounds and cultures. 

Related: Boost Your Career Advantages With These 5 Liberal Arts Skills

While your future salary may be one consideration, there are many factors to consider when selecting a major. Too often students declare a major with the hopes of landing their dream job, only to find themselves unsure of what they actually want after graduation. By doing research on the front end, it can be easier to find the path that suits your interests and goals.

Learn more about Business degrees in our Business section.

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