Master’s in management degrees helps students to develop their knowledge and skills in organizational behavior, economic theory, and business strategy.
These programs attract young professionals with limited work experience who recently completed their bachelor’s degrees. A master’s in management prepares learners to take on leadership roles in their chosen fields.
What are Master’s in Management degrees?
Modern management originated during the Industrial Revolution, a transition from handmade production to machine-driven manufacturing across Europe and the United States led to significant growth in businesses and organizations.
These new, larger entities required owners to coordinate tasks with others. Industries developed solutions to aid mass production, including specialization of labor, standardized processes, workflow planning, and quality control. Harvard University launched the world’s first MBA program in 1908.
Today, every industry and sector employs management professionals. Managers often specialize in certain fields, such as healthcare, information technology, manufacturing, education, and finance. Some of the most popular positions include chief executive, financial manager, food service manager, and marketing and sales manager.
Managers complete many different tasks, depending on their employer and level of responsibility. They hire new employees, control expenses, develop goals, and monitor organizational performance. Managers are an indispensable part of modern industry, without them, it’s difficult for goods and services to reach consumers.
Why Get a Masters in Management?
The greatest benefit of a master’s in management is its flexibility. Whether your academic background is in business, the liberal arts, or a technical discipline, earning a master’s in management empowers you with the skills required to lead and manage teams, departments, and organizations.
As a career field, management tends to offer a high level of job security and excellent compensation. A graduate degree in management enhances these benefits by increasing your competitiveness in the job market.
What to expect from Masters in Management Programs?
Completing an in-person or online master’s in management typically takes 1-2 years. Students can enroll on a full- or part-time basis and many schools offer on-campus, online, and hybrid learning options.
Online programs may use synchronous or asynchronous formatting. Synchronous courses require students to attend class via live web conferencing. Asynchronous courses allow students to access course material independently and at their convenience.
Most master’s in management programs comprise 30-40 credits of coursework. Along with core courses and practicum opportunities, students receive added flexibility in tailoring their program through open electives. Classes combine lectures, discussions, and exercises. To apply, each prospective student typically needs to hold a bachelor’s degree in any discipline. Candidates can possess little-to-no work experience, but each applicant should provide GRE or GMAT scores, a statement of purpose, and letters of recommendation.
Master’s in Management degrees Options
Prospective graduate students looking to study management often choose from three options
Master of Science in Management
An MS in management increases students management abilities through technical and analytical skills. Course topics include managerial economics, marketing strategy, and financial accounting. Applicants often possess little or no work experience.
Master of Arts in Management
An MA in management develops learners management abilities through practical and theoretical study. Course topics include managerial strategy, organizational change and development, and leadership in management. Applicants typically need undergraduate business prerequisites and several years of work experience.
Master of Business Administration
MBAs boost management skills through technical, theoretical, and practical coursework. Applicants select from concentrations in finance, project management, and healthcare administration, among others. Applicants typically need undergraduate business requirements and several years of work experience in some cases.
An MS in management offers the best option for individuals looking to begin graduate school immediately following their bachelor’s. Regardless of the undergraduate major, the MS program prepares graduates to efficiently lead teams, departments, and organizations. The MBA and MA in management serve experienced professionals looking to advance and polish their existing skills.
Popular Management Courses
A master’s in management requires approximately 12-20 courses, including core classes, electives, and a final project or experience.
The curriculum focuses on developing degree-seekers skills in key managerial areas like finance, data analysis, communication, and decision-making. Learners also develop interpersonal skills like communication, team development, and leadership.
You can take a look at the five sample courses to get a better idea of the content
Financial Analysis: This course provides a broad understanding of financial analysis and its applications in business and investment decisions. Students develop fundamental knowledge of accounting concepts and procedures by examining financial statements, balance sheets, and cash flow analysis.
Management Communication: A course in management communication teaches students how to communicate clearly and persuasively with different audiences. Coursework examines best practices to improve writing, presentation, and interpersonal skills.
Marketing Management: This course provides a comprehensive introduction to marketing management. Students learn to assess marketing opportunities, develop marketing strategies, and implement plans. Topics include marketing research, consumer behavior, sales forecasting, brand management, and marketing ethics.
Entrepreneurship and Innovation: This common elective course focuses on creating new businesses and markets through innovation and entrepreneurship. Topics include business model innovation, new ventures, and entering foreign markets. Learners examine business models, funding options, barriers, and risks.
Practicals: A master’s in management typically requires each applicant to participate in real-world practice with a business client. Students integrate knowledge and skills gained throughout the program to solve practical leadership challenges.