Best Degrees for Entrepreneurs to Succeed in 2024

Your ideal degree can set you on the path to entrepreneurial success—whether it‘s business administration to master the art of management, computer science to bring tech ideas to life, or marketing to build a loyal customer base. If you choose a degree that truly excites you and aligns with your vision, you will lay the groundwork to turn big dreams into reality.

Ever dreamed of starting your own business but weren‘t sure where to begin? Here‘s a little secret: picking the right degree will be one of the smartest first steps on your journey. But with so many options, how can you be sure you choose the right one? Luckily, we have the answer.

Read on to learn everything you need about the degrees that will pave the way to your entrepreneurial dreams. 

14 Degrees for Entrepreneurs

Entrepreneurship is diverse and vibrant, and the right degree can be your gateway to success. Each program offers unique skills and knowledge to empower you to turn your ideas into thriving businesses.

Below, we explore some of the most valuable degrees to help you choose from, each with the potential to fuel your journey.

Accounting

For those eyeing the entrepreneurial path, an accounting degree might just be one of your best-kept secrets to success. Sure, accounting might not sound as flashy as marketing or tech, but it's the backbone of any strong business.

Being able to map out your budget, track your profits, and spot opportunities for growth independently is a real empowerment for any entrepreneur.

Entrepreneurs often face financial ups and downs, and with accounting knowledge, you'll have the tools to navigate challenges, adapt quickly, and keep your business thriving. Plus, if you ever seek funding or partnerships, investors love a founder who knows their financials inside and out.

Average salary for accounting professionals: $79,880 per year

Business Administration

If you are not highly fond of accounting, a degree in business administration can be another ultimate launchpad. This field covers everything from marketing and management to finance and operations, giving you a well-rounded foundation for running a business.

With a business administration background, you'll be ready to handle whatever comes your way, from developing a winning strategy to building a team that shares your vision.

Whether pitching to investors, negotiating with partners, or tackling your next big goal, a business administration degree equips you with the knowledge and leadership skills to make things happen.

Average salary for these professionals: $79,050

Communications

Great communicators are often the driving force behind successful businesses. If you pitch a game-changing idea to investors, but your message doesn't land, or attempt to lead a team without clear, inspiring direction, you will fail in the entrepreneurial area. However, strong communication skills will convince others to believe in your vision and motivate your team to push boundaries alongside you.

The average salary for professionals with a communication degree: $60,000

Computer Science

Like a degree in accounting or business administration, a computer science degree can be a game-changer for aspiring entrepreneurs.

Knowledge of computer science is a tremendous asset for entrepreneurs, especially in tech-driven startups. Understanding core technical concepts will help you create, manage, and scale your ideas.

Here’s how computer science knowledge can empower you in a startup environment:

• Hands-on development skills - With programming languages like Python, Java, or JavaScript, you can develop prototypes, build apps, or even launch your software without waiting on others. This is a huge advantage if you want to bring a tech product to market quickly.

• Data analysis & decision-making - Data science and machine learning skills enable you to analyze customer data, predict trends, and make data-driven decisions that improve your business model and product offerings.

• Cybersecurity awareness - With cybersecurity knowledge, you can protect your company’s sensitive data, a critical element in gaining customer trust and maintaining a reliable brand.

• Algorithm design & efficiency - Understanding algorithms allows you to create efficient, cost-effective systems, whether for an e-commerce site, a recommendation engine, or any data-intensive service.

Average salary for computer and information technology occupations: $104,420

Design

For creative minds with an eye for design, turning a passion for aesthetics into an entrepreneurial path is easily possible. Through a design degree, you will learn about the unique power of shaping a brand’s identity from the ground up, bringing visions to life in ways that capture attention and spark connection.

Today, visuals often speak louder than words, and having a design background means you’re ready to make a lasting impact. When you have the skills to create everything from the look and feel of a product to the visuals in your marketing materials, you gain a powerful advantage.

Average salary for these professionals: $58,910

Economics

Economics teaches you to understand markets, anticipate trends, and think critically about resource management. Such skills are crucial for running a successful business. With an economics background, you’re prepared to make sustainable decisions that keep it growing. You’ll know how to price products strategically, allocate budgets efficiently, and adapt to your industry's economic shifts.

As an entrepreneur with this knowledge, you’ll be able to analyze demand, understand competitors, and predict how changes in the market might influence your business.

The median annual wage for economists: $115,730 

Engineering

Engineering degrees involve solving problems and building innovative solutions—the skills needed to create a successful business. Engineers bring a mindset of resilience and creativity that is invaluable to the startup world.

Beyond problem-solving, engineers understand how to turn ideas into tangible realities. The technical skills gained in engineering, from prototyping to production, mean that engineer entrepreneurs can go hands-on with product development, ensuring a precisely executed vision.

The median annual wage for this group of professionals: $91,420

Entrepreneurship

A degree in entrepreneurship is like having a personalized toolkit for aspiring business owners. It equips you with the skills and knowledge needed to transform your innovative ideas into thriving ventures. 

Throughout an entrepreneurship degree, you’ll delve into critical areas such as market research, business planning, and financial management—each a cornerstone for building a successful business. What’s even more exciting is the emphasis on experiential learning, where you can work on real-world projects and even launch your startup during your studies. This hands-on experience provides practical insights and a taste of the entrepreneurial journey ahead.

Additionally, the networking opportunities available through such programs will connect you with experienced entrepreneurs, mentors, and potential investors who can support you as you take your first steps into the business world. 

Environmental Science

A degree in environmental science equips future entrepreneurs with the knowledge to develop products or services that address environmental issues, such as renewable energy solutions, waste management innovations, or sustainable agriculture practices.

Understanding how natural resources are utilized and preserved allows you to create businesses that fulfill market needs and contribute to a healthier planet. For instance, you could develop an eco-friendly product line or consult with companies seeking to improve their sustainability practices, thus positioning your business as a leader in the green economy.

Understanding how to analyze environmental impact assessments or conduct life cycle analyses allows you to build credibility with consumers and investors alike. This expertise can be a powerful selling point, helping you connect with like-minded customers who value sustainability and are willing to support businesses that align with their principles.

The median annual wage for environmental scientists: $78,980

Finance

A finance degree teaches the financial principles necessary to turn your entrepreneurial dreams into a well-informed and calculated journey. With a strong finance foundation, you’ll feel empowered to navigate the ups and downs of the market with confidence. Understanding financial markets means you can make smart investments or adapt your business model as conditions change.

You’ll also pick up risk management techniques that help you spot potential threats and develop strategies to address them before they become issues.

The median annual wage for financial professionals: $156,100

Human Resources

When you think about launching a successful business, what often comes to mind are innovative ideas, a solid business plan, and a dedicated team to bring it all to life! The latter is where a human resources (HR) degree comes into play. 

This degree is a secret weapon for building a strong foundation within your startup. A human resources degree arms you with everything you need to create a dynamic team that drives your vision forward, such as skills in talent acquisition, employee engagement, and organizational behavior.

Such a degree will help you dive into the psychology of motivation and team dynamics, enabling you to create an environment where everyone feels valued and engaged.

The median annual wage for human resources: $67,650

Information Technology

Being well-versed in emerging trends—like cloud computing or artificial intelligence—positions you to innovate and stay ahead of the competition. With an IT degree, you will be able to turn your entrepreneurial dreams into reality by taking advantage of technology to enhance your business operations and customer experiences.

Additionally, cybersecurity knowledge is crucial for protecting business and customer data and helping you establish trust and credibility with your users.

Moreover, IT expertise enables you to leverage data analytics to make informed business decisions. You’ll learn how to gather, analyze, and interpret data, which can provide valuable insights into customer behavior and market trends.

The median annual wage for this group of professionals: $104,420

Marketing

We can all agree that today's market is overcrowded. If you dream of launching a business that stands out in today’s crowded marketplace, it would be hard without a degree in marketing.

With such a degree, you would be able to conduct market research and uncover what consumers truly want and need. You would also be able to pinpoint your ideal customers and how to reach them with precision.

Mastering the art of segmentation and targeting helps you deliver the right message to the right people, dramatically increasing your chances of conversion.

The median annual wage for these professionals: $131,870

Psychology

This fascinating degree gives you the insights to connect deeply with your customers and motivate your team. A thorough understanding of cognitive biases and decision-making processes would help you craft products and services that resonate perfectly with your audience’s needs and desires.

But the benefits don’t end there! With a psychology background, you’re also equipped to create a vibrant workplace culture where your team thrives. You’ll learn how to navigate team dynamics, boost motivation, and resolve conflicts, transforming your workplace into a collaboration and innovation hub. When your employees feel valued and inspired, their creativity and productivity soar.

The median annual wage for psychology degree holders: $55,000

Which Degree Should I Choose?

Choosing a degree for a career in entrepreneurship is a decision that shapes your journey, goals, and your future. While entrepreneurship doesn’t strictly require a degree, many find that the right educational background helps them gain confidence, expertise, and networks.

Consider the following:

• Clarify your long-term goals - Understanding your interests and business type can help narrow your options and reveal the skills you need.

• Compare potential degree paths - Each degree offers a unique foundation for entrepreneurship, so exploring their strengths is helpful.

• Assess the skills you’ll gain - By aligning your desired skills with your degree, you’ll ensure your studies give you the tools you need for entrepreneurial success.

• Evaluate job prospects and flexibility - Consider degrees that offer job flexibility and provide in-demand skills to help you gain relevant experience.

Finally, trust your instincts—your ideal degree is out there waiting for you!

Conclusion

Choosing the right degree is a stepping stone toward your entrepreneurial dreams. Each of the degrees discussed here has the potential to empower you with the knowledge and skills necessary for success. As you proceed with your journey, remember that your passion, resilience, and informed choices will guide you toward fulfilling your entrepreneurial ambitions. 

Dare to dream big, and let your educational path be the launchpad for your success!

Frequently Asked Questions (FAQs):

Is entrepreneurship a good career path?

Absolutely! Entrepreneurship offers incredible opportunities for creativity, independence, and impact. It's a rewarding path for those willing to embrace challenges and chase their dreams.

What degree do most successful entrepreneurs have?

Successful entrepreneurs come from various educational backgrounds, but common degrees include business administration, finance, and engineering. The best degree for you is the one that aligns with your passions and the specific industry you wish to explore.