Despite Dip, Business Is Still The Most Popular Major

David Platt

David Platt

David Platt, Associate Dean of the Undergraduate Program at the University of Texas-Austin, McCombs School of Business

At the UT-Austin McCombs School of Business, associate dean Platt also says applications are up, rather than down.

“If that’s a general trend, it’s certainly not a trend in our case,” Platt says. “I think our applications are up 16% from last year, and they’ve been up every single year.”

In fact, the incoming class will be the largest in recent years, and Platt says because it’s such a popular program it’s been a challenge to admit all the qualified students.

He suggested that perhaps McCombs is not seeing the downward trend shown in the 2015 Digest because of the school’s rare position as a top-10 school that is also a public school. “We may not be observing the trend because of the value,” Platt says. “If you’re looking at $45,000 for tuition, you might look at it differently.”

Scott DeRue, Dean of the University of Michigan Ross School of Business

Similarly, at the Ross School of Business, Dean DeRue says the undergraduate business major is the most popular degree on campus, and the program is at an all-time high.

“The number of students who express interest in business when they apply to Michigan has grown exponentially,” DeRue says. “Our acceptance rate is — let’s just say it’s the most competitive major not only on campus, but possibly in the country.”

Despite the undergraduate business program growing at Ross, DeRue says it’s possible the major is becoming less popular at other schools. But if it is, he can only guess as to why. “If we’re speculating, I expect what is happening at some schools is that they haven’t kept up with the educational experience that students want and need, and are not following industry trends,” he says.

At Michigan, business students have been increasingly interested in going into tech, so the school has evolved to accommodate them, DeRue says. If other schools aren’t doing the same, he says, perhaps students who want to work in tech are choosing different majors.

Fewer Business Majors Because Of The Economy? 

Another possible explanation for the dip in business majors is that its increasing popularity was linked to a less-than-ideal economy. Last year, an analysis of census data on college major choice in the U.S. found that a 1% rise in joblessness is linked to more men majoring in engineering, accounting, and business, and more women majoring in business, nursing, and accounting.

As the economy improved, the number of students majoring in business may have begun to even out, and as a result fewer are receiving the degree today.

SEE ALSO THE CASE FOR THE BUSINESS MAJOR or SCHOOLS WITH THE HIGHEST RETURN FOR BUSINESS CAREERS

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