Determinants of academic major choice: a comparative study of business programs in Bangladesh

Abstract

This paper aims to examine the determinants influencing students' choices of academic majors, with a specific focus on business programs at private universities in Bangladesh. It evaluates the relative impact of various factors including subject interest, perceived prestige of the major, faculty reputation, earning potential, and availability of the major. Additionally, this study seeks to analyze how these determinants align with broader socio-economic and institutional contexts. Employing a hybrid analytics method, the study utilizes both quantitative analysis and factor analysis techniques. A dataset of 276 students from three private universities in Bangladesh was surveyed using a structured questionnaire based on a Likert scale. This data was collected over a period that reflects the current trends and perceptions among students regarding their choice of academic majors. The main findings of the study demonstrate that (i) intrinsic interest in the subject significantly influences major choice, (ii) perceptions of economic outcomes associated with the profession, such as earning potential, play a crucial role, and finally, (iii) institutional factors like faculty reputation and the prestige of the major also significantly impact students' decisions. These findings underscore the complexity of factors that students consider when choosing their academic majors, highlighting the interplay between personal interests, economic considerations, and institutional attributes.