The Value of an Entrepreneurship Degree
Are you eager to learn innovative business skills? Do you want to start your own company? Or bring fresh ideas to an existing firm? Then an entrepreneurship degree might be for you.
According to the U.S. Small Business Administration Advocacy Office, there are 30.7 million small businesses that comprise 99.9% of all companies in the United States. In 2019, these businesses generated 1.8 million new jobs for the economy. Small businesses in America account for 47.3% the entire private workforce.
Historically, successful entrepreneurs focused on any number of majors in college.
- Elon Musk holds bachelors’ degrees in economics and physics.
- Oprah Winfrey earned an undergraduate degree in speech communications and performing arts.
- Jeff Bezos studied computer science and electrical engineering.
Undergraduate Entrepreneurship Majors
Given the interest of millions of people to start business, the field of entrepreneurship studies is quickly growing in the United States and around the world. In the U.S., there are now more than 40 colleges and universities that specifically offer an Entrepreneurship undergraduate major and/or minor. From Babson College in Massachusetts to the University of California – Berkeley, from the University of North Carolina – Chapel Hill to Rice University in Houston, and from the University of Florida to Arizona State University, there are many new options to earn an undergraduate education in Entrepreneurship.
What type of classes might you take as an undergraduate? While it varies by school, here is a list of possible courses:
- Corporate Entrepreneurship
- Venture Growth
- Product Innovation and Commercialization
- How To Build A Startup
- Business Venturing
- Social Entrepreneurship
- Affordable Design
- Future Trends in Entrepreneurship
- Entrepreneurship Innovation Lab
Take a look here for typical undergraduate classes for an Entrepreneurship major and/or minor.
Master’s Level Entrepreneurship Degrees
Entrepreneurship is growing in popularity for graduate degrees as well. There are masters level degrees across the country. The University of Michigan offers a 36-credit Master of Entrepreneurship degree at its’ Ann Arbor campus. At the University of Southern California, the Master of Science in Entrepreneurship and Innovation offers seven interdisciplinary minors. For those who seek to hone their management abilities while being innovative, Texas A&M University at College Station offers a Master of Science in Entrepreneurial Leadership.
In addition, there are Master of Business Administration (MBA) programs that feature a specialization or concentration in Entrepreneurship. The Massachusetts Institute of Technology (MIT) in Cambridge, the University of Pennsylvania in Philadelphia, and Stanford University in Palo Alto, California all have MBA programs that offer Entrepreneurship.
PhD / DBA Entrepreneurship Degrees
For those people ready to pursue a PhD, the opportunities are growing and lucrative. According to the Association to Advance Collegiate Schools of Business (AACSB), the median salary for an instructor of Entrepreneurship is $85,090. Assistant professors average $116,460 in pay. And full professors? They earn a median average of a whopping $143,200 per year. Universities that offer a PhD in Entrepreneurship include Clemson University in South Carolina, the University of Louisville in Kentucky, and Florida State University in Gainesville.
If you want to continue working at your current job while earning your advanced degree, you can consider a Doctor of Business Administration (DBA) program. Some DBA programs are in a hybrid model. The student will spend time on campus, as well as completing coursework online. Other DBA programs are completely remote learning. Schools that offer DBAs include Indiana University in Bloomington, Walden University in Minneapolis, Minnesota, and the California InterContinental University in Irvine.
View PhD and DBA programs that focus on Entrepreneurship.
Are you ready to be an entrepreneur? If so, take the next step with education that can help you to become the founder of your own business.