29 Jan UVF To Launch New Business Degrees in 2021
Starting in the fall semester of 2021, UVF is launching four new programs in the Business Administration department: a Master in Business Administration (MBA), a Master of Arts in Organizational Development (MAOD), a Bachelor of Science in Music Business and Technology, and a Bachelor of Science in Marketing. These programs were created after examining the need and demand for instruction in these subjects.
According to Indeed, an MBA is the top most in-demand master’s degree. In regards to salary, a 2018 report by the National Association of Colleges and Employers, a person with an MBA is projected to have a 38 percent higher starting salary than someone with only a bachelor’s in business: $78,332 as opposed to $56,720, respectively. And it’s not that undergraduate business degrees aren’t important, but normally the positions being offered to a graduate with an MBA carry greater weight and responsibility in a company. It’s the preparation and knowledge gained from their degree that allows MBA grads to utilize those higher level critical-thinking skills to help their businesses succeed. UVF believes businesses of today need executives who will lead their companies with ethics, truth, integrity, and faith, and are prepared to equip them with the knowledge and skills to do so. For more information about pursuing an MBA at UVF, click here.
The demand for a master’s degree in Organizational Development stems from the vast increase in searches for organizational development jobs and degrees on platforms like LinkedIn and Google. LinkedIn job searches show 42,025 jobs in “Organizational Development” compared to 33,321 in “Organizational Leadership” in the USA alone. On Google, the term “Organizational Development” shows 10.3 million results, compared to “Organizational Leadership” at 3.3 million. Whereas one might compare it to UVF’s existing Organizational Leadership degree, some of the curriculum is similar, but it targets a different employment market. According to the USDL:
- Employment of training and development managers is projected to grow 7 percent from 2019 to 2029, faster than the average for all occupations. Job prospects should be favorable due to the continuing need for workplace training and education. The median annual wage for training and development managers was $113,350 in May 2019.
- Employment of human resources managers is projected to grow 6 percent from 2019 to 2029, faster than the average for all occupations. As new companies form and organizations expand their operations, they will need human resources managers to administer and monitor their programs and to ensure that firms adhere to changing employment laws. The median annual wage for human resources managers was $116,720 in May 2019.
For more information about pursuing a degree in Organizational Development at UVF, click here.
As many students coming to UVF pursue the digital media bachelor’s degrees in Recording Arts or Music Production, the Music Business and Technology degree combines both the practical business knowledge of the music industry along with the fundamental understanding, appreciation, and expertise for what goes into the actual music itself. For the full year of 2019, total revenues for the global recorded music market grew by 8.2% to US $20.2 billion. Streaming revenue grew by 22.9% to US$11.4 billion and for the first time accounted for more than half (56.1%) of global recorded music revenue. This growth was driven by a 24.1% increase in paid subscription streaming with nearly all markets reporting growth in this area. There were 341 million users of paid streaming services at the end of 2019 (+33.5%), with paid streaming accounting for 42% of total recorded music revenue (source: IFPI.org). LinkedIn Jobs currently reports 33,943 job openings in the Music industry in the USA. Job examples include artist manager, tour manager, booking agent, music publicist, music producer, music marketer, concert promoter, music distributor, etc. The top 5 corporations in major music markets are EMI Records, Sony, Vivendi Universal, AOL Time Warner, and BMG, and the top music retailers are Guitar Center, Sweetwater, SamAsh, and American Music Supply. For more information about pursuing a degree in Music Business and Technology at UVF, click here.
UVF currently offers a marketing minor, but as marketing is now the third most popular business degree, the demand is certainly there for a bachelor’s program. All businesses, churches, and nonprofits will need marketing professionals who will promote and price their products and services with ethics, integrity, and truth. According to the USDL:
- A bachelor’s degree is required for most advertising, promotions, and marketing management positions. The median annual wage for advertising and promotions managers was $125,510 in May 2019. The median annual wage for marketing managers was $136,850 in May 2019.
- Overall employment of advertising, promotions, and marketing managers is projected to grow 6 percent from 2019 to 2029, faster than the average for all occupations. Advertising, promotions, and marketing campaigns will continue to be essential for organizations as they seek to maintain and expand their share of the market.
For more information about pursuing a degree in Marketing at UVF, click here.