The Business Major Guide (Fresh school graduate must read)

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I did this guide for my country but it works anywhere....


The “Business Major” Guide

By The Anonymous Friend


Objective of the guide: The objective of this guide is to provide to the new school graduates a full detailed insight and recommendations about the “Business Major” which is one of the most popular and common majors in Lebanon and in the World.




Introduction: Before beginning with the good points about the “Business Major” I’ll have to show you the weak points about this “major”, remember that what you are reading here are not told by your consultant at school about the “Business Major”. The Business major is one of the most over-hyped majors in schools and because it’s over-hyped the new graduate student might develop high expectations about the Business Major which are nothing more than illusion or at least over-expectations.

“The Business Major” is one of the newest majors in the world but it’s one of the majors that is dying pretty quickly more than any major, surprised? If you don’t believe me then wait till you read all the facts that I am going to show you about the Business Major before judging this statement.


One of the weakest points in the “Business Major” that it’s an extremely vague major and still very poorly evolved in all universities and especially in the French universities. The “Business Major” contains a lot of major subjects who are totally unrelated or poorly related to each others: Management, Accounting, Finance, Marketing, Laws, and Financial Markets ….etc

As a result of this vagueness of the “Business Major”, majoring in “Business Major” is like majoring in an imaginary major of 3 years called “General Engineering” that contains major subjects such as “Civil Engineering”, “Electrical Engineering”, “Agricultural Engineering and “Water Engineering” ….etc.
Your first reaction would be “Wah! How one can study all these hard subjects in 3 years only?”.

The answer is simply “yes, it’s possible”, it’s possible to teach all these subjects during three years but only if it’s taught so briefly. As a result of that, the student would be lost during his education and won’t be really able to excel in any of these subjects. Even if the student is brilliant enough to take top grades in all of these subjects but such vague education system won’t provide the enough time and the required amount of information that would allow him/her to evolve to a professional level in any of these subjects. For example If a student in this imaginary “General Engineering” major could take “A” or “18/20” in all of these subjects , he would still ended weaker in “Electrical engineering” (let’s say with a grade of 19/20 ) for example than a good (not necessarily brilliant) Electrical Engineer graduated, Why? Because an electrical engineer graduate was able to take many courses about this subject alone (Electrical Engineering) and could have more time to focus on it, plus his/her teachers were able to provide him/her more information about this major subject. In the other hand, a brilliant “General Engineering” graduate couldn’t have the enough time or the opportunity to focus and to get all the required information that makes him/her professional in the Electrical engineering, he/she would only be able to learn it on a theoretical level only but not really on practical level. Same is true for all the other subjects of his/her “major” so at the end this graduate, even if he/she was so brilliant, would end up weak in all these kinds of engineering.


That’s exactly the main problem in the “Business Major”. In most universities, this “Major” is not really a major but it is in fact a portal of many real majors but since all these the majors are very compressed in 3 years, the value of each of these real majors is really depreciated and watered down, and the graduate with business degree wouldn’t end up really specialized in anything specific but he would learn them all only on theoretical level.

That’s why I said that the “Business Major” is a dying major , one day there would be no more major called “Business Major” and this “major” will be replaced by real majors such as “Marketing Major”, “Finance Major” , Accounting Major” ….etc. And this is not something that I am predicting it by reading Astrology but it’s already happening:

The American Business school system have already realized the vagueness of this major and the necessity to break it down not only on Masters level but even on since the undergrad level, one of the best examples in Lebanon of this phenomena is the NDU university where there’s no more a single major called “Business major” but it was broken down to several majors: Business and Marketing, IBM, Business Accounting, Finance…etc. However, the problem of the vagueness remains because 70 % of the credits of these majors are common but it’s still a good a start and an indication that shows that the death of Business Major has already begun.












In the following part, I am going to show the most common myths said by people about the Business degree and counter each myth with the fact.

The Myths and Facts about the Business Major:


Myth 1: Getting a Business Degree is guarantee for a good job and good money in short time.

FACT: No, a business degree is only a “guide”. It’s no guarantee for a great job and certainly no guarantee that you will make lots of money when you’re finished.

If you choose to “major” in Business and Administration then try to learn as much as possible when you’re in a scholastic setting, it's surprising what you can learn if you listen and work hard. Example, get finance or accounting degree and many doors will be opened, but in you’re spare time, grab a marketing book or economics book (eg.) "Economic systems of the World", and learn all that you can while your there.

A general business degree is not as useful to employers in today's market as you might think. The problem is that, in reality, to the average company owner or CEO, you having a business degree doesn't do them any good. You don't know any more, you still have no clue as to the practical aspects of business, and they still have to teach you everything... except now, they have to pay you more because you have a business degree!! So, in many circumstances, a business degree can actually make you less attractive to many employers. They would much rather find a bright employee with a promising future, train him, and then pay for his education if they feel it would be beneficial.





Myth 2: There are a lot of available positions on the market for the business degree!

FACT: Not true except for the Accountant positions, take any newspapers and see by yourself.




Myth 3: With a Business degree it’s easy to get a job because you can work in all kinds of companies and institutions.


FACT: True, a “Gestionnaire” or a business degree graduate would be able to work in jobs that exist in all kinds of companies and institutions such as Sales, Management and Marketing.

BUT on the other hand these jobs can be also taken by people who are majored in other majors, so there’s a very high competition on these jobs, so it’s so easy to get any of them.

The best example for this phenomenon is the Bank positions, many Banker with business degree complain about how many people who are majored in non-business majors such as engineering and pharmacy are working in the same positions. I am sure that most of my banker friends have witnessed this phenomenon.

Not only that, but in many Sales position, the employers prefer someone who’s majored in something related to the product than a graduate with a business degree. For example if the product is an IT product then the employer would prefer to recruit a candidate with an IT degree than a candidate with a business degree.



Myth 4: A business degree (especially if it’s with a master’s degree) is the only key to get high managerial positions.

FACT: Wrong, you don’t need a business degree to reach a high position. A recent study was done by Spencer Stuart in the US showed that Engineering is the most common undergraduate degree held among the CEOs of S&P 500 Group.

[According to our research, 97% of S&P 500 CEOs earned an undergraduate degree at a college or
University. Engineering and Business Administration were the top two most often-received degrees]



Source: http://www.ausicom.com/filelib/PDF/Rese ... _relB3.pdf




Besides, during my professional experience, most Bank Branch managers I’ve met during my work were not business graduated but they were rather engineers and economists.

Another good example is the “Private Banking” which is one the highest and most prestigious level in the Banking sector is almost totally dominated by engineers and mathematicians ask any HR in any bank and he’ll tell about this true. The main reason why engineers and mathematicians are most hired for Private banking is because they are supposed to be “good” in math and calculations.

I’ve personally also experienced how CEOs and GMs look down on Business degree, when my former supervisor left (who had an IT degree) , I wasn’t promoted to his place simply because I don’t have an IT degree while the nature of this job is purely administrative but since it’s about selling IT products the GM thinks that one should have an IT degree in order to succeed in this position despite the fact that I know a load about computers and IT but still that wasn’t enough (in his view) because I simply don’t have a degree in IT or CS.
So instead of promoting me, he hired a total stranger with a “Computer business” degree to be my supervisor while I remained my place. Funny, that I am keeping all day teaching him how to use Office applications and he cries each time he has troubles with his pc.




Myth 5: Nah, it’s enough to get a “Wasta” to get high position

FACT: While “Wasta” can make miracles in Lebanon, in most cases a “Wasta” just helps you to get a job but rarely help you to build a career. Almost everyone has a “Wasta” of some kind so you have to differentiate yourself by a different think; an engineer with “Wasta” is better viewed by the CEO than the Business graduates with “Wasta” and is more likely to be promoted for a high managerial position.

A matter of fact, the first CEO’s concern is to generate money so if you’re not helping him to do it, then a Wasta won’t help you to get promoted or not and most CEOs think that engineers are supposed to be smarter and so more capable to make money.

PS: "Wasta" = "good contact with someone important".


Myth 6: A business degree can teach you how to do “Business”

FACT: Wrong, most real success stories told in the Business schools are about people who never get a business degree but rather other degrees. The business degree just teaches you some generalized mythologies and tools of administration but it never teaches you how start and run a business.



Myth 7: A Master’s degree in business and administration would enhance your business degree and so your position at work.

FACT: Not true, your employer really doesn’t care if you are a business graduate with a Master’s degree or not .You won’t take any raise if you submit your Business Master’s degree to your employer and won’t promote you because of it either. This is simply because employers are really aware that masters in Business and administration doesn’t make you more knowledgeable and more effective in business but only experience would do that , a Masters in business and administration is a continuity of the vagueness that already existed in the Business degree.

In other term, a business master’s degree is a waste of time and money.






Q&As:

In what cases I should major in “Business major”?

There are only 4 cases where a school graduate should major in business:


1- An accounting career

If you wish to be an accountant, In that case, make sure to only study for 3 years in business major and make sure to not pick a French university and then go and study in a non-university accounting academy such as “Kafa2at” or better you can do an international accounting degree such as CPA, they’ll teach you there extensive accounting better than any university but you still need a university degree because people here look down on non-university degree. Don’t go for a university masters in accounting.
Accounting is the most demanding job on the market compared to the other business major-related jobs.



2- Daddy’s company

If your father or mother owns a company and you know that you’ll have to take their place one day, then a business major would be enough for you.


3- Housewife

While I disagree with this 19th century mentality but if you are a female fresh school graduate and all what you wish to be is becoming a wife and mom staying at home, yet you want an university degree so you can work for a while before marrying and so your parents can feel proud about you…. Then yes, a business major or PR is your best choice since you can pass it with little studying.





Question: I have already majored in Business, should I continue for the Master degree?


The answer is simply “no”, majoring a second major would be much better, a double-majors is more valuable than a Business major + Master’s degree.

The best double-major combos that go with the Business major are: Business/Laws, Business/Advertising, Business/IT and Business/Economy.



Question: I am a new fresh school graduate student but my dream is to become a CEO or at least a GM of a company, what should I do? Should I major in Business?

Some CEOs and GMs hold business degree but there’s a better way to be one.

First, pick the industry that you most like , major in it and then go study MBA. If you love computers for example then study CS or CE and then do MBA. If you love foods for example then major in nutrition and then do MBA…..etc





Regards,

I wouldn't say that.

I don't know about where you are, but in Canada, most companies and government agencies are crying for B. Comm graduates. Many private organizations (who don't specialize in medicine, science or engineering) will only accept B. Comm graduates, and those who accept Arts graduates will still give Commerce graduates priority.

Interesting reading, dose it apply to the UK, my brother wants to study buisness.

(btw, why isn't this in School and Collage Life?)

Actually, this is very enlighting and I think it does apply to North America and Europe too.

First off, realize that most assumptions that are made about college degrees are done through large companies. However, large companies are not the major employers in most countries, it is the small to mid-sized businesses that do most of the hiring. Within most of those companies, a college degree is not as important as the fact of whether you can do you job and add value to the company through your skills. The focus of the college degree therefore should be to gain skills needed to add value to the company, not the piece of paper.

Finally, one should read "The Millionaire Next Door" and "The Millionaire Mind" by Thomas Stanley. You will be surprised that education is actually a low indicator of whether someone will be a millionaire or not.

With any college major, one needs to research it fully before committing themselves. Otherwise, you may find you spent quite a bit of money for a piece of paper that is useless in the real world.

*bump*