4 Reasons You Should Consider a Business Diploma
- 10th January 2018
- Education and careers
Business remains a popular field of study for younger students and mid-career professionals alike, and with good reason. Even a foundation diploma in business can be hugely advantageous for your future career since business principles are so widely applicable in all industries.
Those who have business qualifications in Singapore are highly employable. The statistics prove it: according to MOE’s 2016 Graduate Employment Survey Results, those with business qualifications enjoy higher employment than graduates of other fields.
In terms of practicality, then, nothing beats studying business. If you’re already thinking of getting a business diploma, here’s why it’s a smart choice for you:
1) Abundant opportunities for specialisation
The best thing about business is that there’s no cookie-cutter path. Rather, you can often choose to specialise in other fields related to business or within the industry. Be it marketing, finance, accounting, or human resources, you’re free to pursue other interests alongside your business education.
If you have a specialisation or two in mind, be sure to check out the specialisation options offered by each potential programme before embarking on your business journey. Have a look at the modules available and ask about branching out into other subjects.
A foundation diploma can enable you to progress to different specialisations in subjects related to business once you have a better idea of what you want. Developing your own niche skillset will certainly make you stand out from the crowd.
2) Versatile and transferable skillset
Business skills are highly transferable across jobs and industries. Besides polishing soft skills like good leadership and communication, a business programme can equip you with knowledge that all organisations value, such as project management and budgeting.
As you progress along your chosen path, you may discover that other careers are more suited to your interests. Having a business diploma gives you space to make a career switch easily because those with business qualifications are seen positively by many employers as versatile and savvy.
As what Kate Walsh explains in her book ‘What Can You Do With A Major In Business?’, “In general, the average employer views business majors as very solid job candidates, thanks to their broad-based education and business know-how”.
3) High earning power
Majoring in business has long been regarded as a fast track to a high-paying position. Having a diploma or degree in business certifies your understanding of management and operations concepts, giving you a leg up into coveted upper positions.
One of the most common positions that business graduates eventually attain is managing director of a firm. A great majority of Singapore’s CEOs have business qualifications and earn a whopping S$32,800 a month, according to the Ministry of Manpower’s statistics on Singapore’s 15 highest-paid jobs.
Other positions that many business degree-holders hold include Chief Operating Officer, who earns on average $20,773 a month, and Company Director, with an average monthly salary of $18,100.
While we are not saying that a business diploma guarantees a management job, it provides the first step for your career progression in business.
4) Tools to start your own business
It’s not all about the fat paycheck, however – many of us go into business full of entrepreneurial ideas and ambitious dreams.
Have an idea that you’ve been burning to develop and bring to fruition? As we know, setting up a business is no easy task – from management to marketing, all kinds of skills are necessary to steer your start-up to success. A business diploma can certainly equip you with the basic business know-how you need to get ahead.
Alibaba’s Jack Ma, YouTube’s Susan Wojcicki, and Lyft’s Logan Green – what all these successful start-up founders have in common is that they hold either a bachelor’s or a master’s degree in areas of business. In fact, more than 60 percent of Australian start-up founders have university-level qualifications in business, according to a report by Universities Australia. Though qualifications are not the only ingredient needed for entrepreneurial success, doing a business programme can stack the odds in your favour.
Business training isn’t about to go out of fashion anytime soon – as long as there are businesses, there’ll always be a need for business people. Whether you want to pick up basic business concepts or progress toward specialised business studies, a business diploma is guaranteed to be a great jumpstart for your career.
Expand your reach with LSBF in Singapore's Foundation Diploma in Business Studies today!