Business leaders must have completed some form of post-secondary education such as a bachelor’s or master’s degree in business, economics, accounting, or finance. During these programs, students are educated in methods and techniques of how to manage and direct a successful company. Upon completion of a master’s degree in business, students may gain professional work experience by becoming employed with a business firm. In addition to the education requirements, students must encompass certain skills and personality traits essential for success in this profession. These include exceptional interpersonal, communication, organizational, time-management, problem-solving, analytical, decision-making, and technical skills.

Leadership Degree Levels Available

Bachelor’s Degree in Business

The bachelor’s degree program in business provides students with a broad introduction to this discipline's concepts, theories, philosophy, and practices as well as a strong foundation for continued education in business. This four-year program includes courses in areas such as leadership fundamentals, organizational leadership, human resources management, business law and ethics, organizational psychology, organizational behavior, crisis communication, financial management, and statistical research. Students graduating with a bachelor’s degree in business may primarily obtain entry-level positions in the business field. Therefore, students who aspire to become a leader in the business industry must further advance to a master’s degree program in business.

Master’s Degree in Business Administration (M.B.A.) - specializing in Leadership

A master’s degree in business prepares students to become leaders in the business profession. At this point in their academic career, students will have chosen an area of specialization in which to focus on throughout their program. Reputable colleges and universities offer a thesis program along with an intense research-based curriculum taught by faculty members who have extensive knowledge and experience in the business field. Courses taught in the master’s degree program include managing organizational change, operations management, leadership assessment, organizational productivity, international business, structural leadership, communication strategies, organizational theory and design, entrepreneurship, managerial economics, information technology, and corporate finance.

Admission Requirements

Although various colleges and universities may vary slightly, students can expect fairly standard admission requirements when applying to obtain a bachelor’s degree in business. Successful completion of high school or an academic equivalent (such as a GED) is required along with high school transcripts displaying grades obtained in completed courses. SAT or ACT test scores are almost always required as well. If a student fulfills all of these requirements, then an application form from the college or university the student wishes to attend must be completed and submitted along with an application fee, which of course varies depending on the institution.

Admission into the master’s degree program requires a bachelor’s degree in business or a closely related field. Colleges and universities require a transcript from the institution where the bachelor’s degree was obtained, displaying the student’s GPA which should be at a 3.25 minimum (on a 4.0 scale). Students must have successfully completed the GMAT (Graduate Management Admission Test) and received a score at or above the 80th percentile. A statement of purpose, which states the student’s career or research goals in the leadership field, must be submitted. Two or three reference letters from faculty members is also mandatory. If a student fulfills all of these requirements, then an application form from the college or university the student wishes to attend must be completed and submitted along with an application fee.

Tuition and Accreditation

Tuition fees for a bachelor’s degree in business may vary from $ 15,918 to $ 32,617. Tuition fees for a master’s degree in business may vary from $ 8,763 to $ 20,368. These figures are only estimates; college and university tuition fees may vary drastically from one institution to another since there are a number of factors which affect tuition such as public versus private institutions, online degrees, federal student assistance programs, etc. (Source: the U.S. Department of Education, National Center for Education Statistics)

Colleges and universities which offer a bachelor’s degree or a master’s degree in business must be aligned with AACSB (Association to Advance Collegiate Schools of Business) standards. Most employers only hire students who graduated from an AACSB-accredited institution.

Average Annual Salary Range for Business Leaders

A business leader’s salary is based on various factors which include (but are not limited to) their level of education, the extent of their experience, their field of specialization, and who they are employed by. Earnings may vary drastically from person to person. However, the average range of annual earnings for the business leaders is $ 110,060 to $ 130,060 (according to the U.S. Bureau of Labor Statistics).