What Can I Expect from an Online Master’s in Management?
An online master’s degree in management is comparable to an MBA, but it provides additional information on managerial principles as well as introductory knowledge on entrepreneurship and leadership. Pursuing the degree online makes it easier to juggle work and home with coursework. It’s comparable to an on-campus program but eliminates commute times and makes it easy to connect from anywhere. No two programs are the same, so it’s important to look around and find the correct program that bests suits your goals.
Concentrations Offered for an Online Master’s in Management
|CONCENTRATION||DESCRIPTION||POTENTIAL CAREERS FOR THIS CONCENTRATION|
|Human Resources||Provides the skills needed to deal effectively with people during various stages of the employment cycle.||Compensation and benefits manager, training and development specialist, employee assistance plan manager, human resources information system analysts|
|Information Technology Management||The IT manager performs many of the same tasks as a traditional manager, but their functions are unique to IT, including software development, network planning and technical support.||Information systems manager, data scientist, IT consultant, IT technical support officer, cybersecurity analyst|
|Marketing||Marketing managers help develop strategies to gain attention to a company’s products and services. They run sales and promotional campaigns and create advertising.||Advertising account executive, market researcher, public relations account executive, advertising art director|
|Supply Chain Management||Trains individuals on how to make recommendations to improve the productivity and efficiency of operations.||Purchasing manager, logistics manager, supply chain manager, operations manager, logistics analyst|
Curriculum for an Online Master’s in Management
The online curriculum for a master’s degree in management focuses on a variety of core classes and electives. Some programs may also require students to take a capstone source and take part in an internship program. Sample courses include:
|Financial Management||Teaches the fundamentals of financial planning, investing and fiscal management.|
|Applied Business Statistics||Coursework ensures students choose the correct statistical tools to measure a company’s performance.|
|Microeconomics||Studies the behavior of individuals and firms when making decisions in the allocation of resources.|
|Operations Management||Focuses on planning and implementing the activities that service and manufacturing companies engage in.|
|Business Communication||Students learn the industry standard way to draft memos, letters and reports.|
How Long Does It Take to Get an Online Master’s in Management?
When taking classes full-time, it can take between 18 months and two years to complete an online master’s in management. A part-time load can take as much as five years to complete. The master’s degree in management is a 36-credit-hour program. Coursework may be self-paced, which allows you to take as many or as few classes at once that you want, or cohort classes, where you begin and complete the program with the same group of students, which can increase the time for completion.
Certifications and Licenses an Online Master’s in Management Prepares For
|Certified Associate in Project Management||A certified associate in project management designation demonstrates your understanding of the fundamental knowledge, terminology and processes of project management.|
|CompTIA Project+||This certification demonstrates validating learning and skills in project management.|
|Master Project Manager||The MPM certification ensures you have the skills needed to bring about dramatic changes in a company through creating, directing and implementing programs.|
|Project Management Professional||Offered by the Project Management Institute, the PMP certification demonstrates your experience, knowledge, skills and competencies to lead and direct projects.|
|Certified ScrumMaster||Certification proves you are a certified Scrum master who’s been introduced to Scrum values, practices and applications.|
|AMA Certificate in Analytical Skills||This certification is for business professionals who want to prove their competency in advanced analytical skills. Applicants must complete three seminars within 24 months from the sign-up date.|
Accreditation for Online Master’s in Management
When looking for an online master’s in management program, it’s important to opt for those with national or regional accreditation. National accreditation usually applies to faith-based colleges and trade schools, while regionally accredited programs are held to stricter industry standards. The Association to Advance Collegiate Schools of Business (AACSB) is one of the accrediting agencies responsible for analyzing and endorsing colleges and universities that offer management degrees.
Employment Outlook for Master’s in Management Graduates
Job Placement: Master’s v. Bachelor’s
When looking for a job, a master’s in management helps you stand out from other applicants with undergraduate degrees. Graduate degrees demonstrate your advanced knowledge in theoretical and applied topics and increase your chances at upper-level management and supervisory positions.
According to the Bureau of Labor Statistics, individuals with a master’s degree make as much as $12,000 more per year than those with just bachelor’s degrees. This doesn’t apply to all industries; some bachelor’s degrees in management offer premium wages even without an advanced degree. In those types of positions, a master’s degree can lead to even higher salaries and advanced career positions.
Source: Bureau of Labor Statistics
The average salary for those with a master’s degree in management depends on both the industry you work in and what metropolitan area you work in. The following metropolitan areas feature some of the highest salaries.
Source: Bureau of Labor Statistics
An online master’s in management creates a career path for many different types of jobs. While most managers gravitate to companies and organizations, managers are needed in all types of companies.
|JOB TITLE||JOB DESCRIPTION||MEDIAN SALARY||PROJECTED GROWTH RATE|
|Marketing Manager||Marketing Managers create and implement plans to generate interest in products and services.||$129,380 per year||10%|
|Sales Manager||Provide direction to sales teams by setting goals, analyzing data and developing training programs.||$121,060 per year||7%|
|Business Executives||Work with other managers to help ensure a company meets its goals. They plan, coordinate and direct operational activities for all employees.||$104,700 per year||8%|
|Human Resource Manager||Human resource managers hire and recruit new employees and handle the administrative functions of an organization.||$110,120 per year||9%|
|Administrative Service Managers||Ensure the support services within an organization meet their goals. They may also supervise a variety of office tasks, including record keeping, mail distribution and office upkeep.||$94,020 per year||10%|
Professional organizations make it possible to stay up-to-date on industry trends and legislation that relate to management. Most organizations provide networking opportunities, like annual conferences and online forums. You can also find educational opportunities and publications. Consider some of these top professional organizations for those with a master’s in management.
North American Society for Sports Management: The NASSM assists professionals in sports, leisure and recreation industries and holds an annual conference for education and networking.
National Management Association: The National Management Association is a nonprofit organization that represents managers in a variety of industries. The group holds online seminars and connects members for networking opportunities.
Project Management Institute: Founded in 1969, the Project Management Institute has over 2.9 million members worldwide. The organization provides continuing education and publications and offers networking opportunities.
Society of Human Resource Management: The Society of Human Resource Management is the largest HR professional society in the world. The group seeks to advance the practice of human resource professionals.
Financing Your Online Master’s in Management
Online degree programs are usually cheaper than traditional on-campus programs, but it can still be tricky locating financial assistance. Start by filling out the Free Application for Federal Student Aid (FAFSA). This gives you information on any grants, loans and scholarships you qualify for through the federal government. You can also find financial assistance through public and private organizations.
Deadline: April 1
Eligibility: This one-time award is for those majoring in management or applied math and science.
Deadline: July 1
Eligibility: Intended to help women succeed in business and is awarded to women pursuing a bachelor’s or master’s in business management.
Deadline: November 1
Eligibility: Applicants must be enrolled in a master’s degree program with an emphasis on human relations or a related subject, such as management or business. Applicants must also be a member of the Society for Human Resource Management.
Deadline: December 31
Eligibility: Applicant must be a U.S. resident and a member of AfterCollege.com.
Deadline: June 1
Eligibility: Graduate applicants with a declared major in a business-related field and those with a 3.0 GPA or better are eligible.