Managers with master's degrees can earn quite well and the job outlook for posts in a variety of fields is promising. Salaries vary, depending on the position, but most should be in the six figures.
Managers work in all industries in both administrative and labor roles. Though managers don't always need a master's degree, a Master of Business Administration (MBA) could prove useful in several careers, including the three featured below.
|Career Title||Computer and Information Systems Manager||Human Resources Manager||Financial Manager|
|Education Requirements||Bachelor's degree in computer science or information science; many employers prefer a master's degree||Bachelor's degree in human resources or business administration; many employers prefer a master's degree||Bachelor's degree in finance, accounting, business administration or economics; many employers prefer a master's degree|
|Projected Job Growth (2018-2028)*||11%||7%||16%|
|Median Annual Salary (May 2018)*||$152,860||$126,700||$146,830|
Source: *U.S. Bureau of Labor Statistics
With a master's degree in hand, individuals can pursue managerial positions in a variety of industries. For example, they might explore opportunities such as computer and information systems manager, human resources (HR) manager or financial manager.
Computer and Information Systems Manager
These professionals plan and coordinate computer-related activities of the businesses for which they work. They might be in charge of software development, network operations, software and hardware upgrades. They ensure that computers are kept up-to-date and deal with other daily technology issues within a firm.
In May 2018, the lowest paid 10% of computer and information systems managers made $85,380 or less, while the highest paid 10% made $208,000 or more, according to the U.S. Bureau of Labor Statistics (BLS).
Human Resources Manager
HR managers oversee activities such as employment, placement and recruitment. In large companies, they might specialize as occupational analysts, benefits managers or training managers.
The lowest paid 10% of HR managers made $66,870 or less in May 2018, according to the BLS. At the same time, the highest paid 10% of HR managers earned $201,380 or more (www.bls.gov).
Financial managers oversee the preparation of reports, investments and cash management strategies as they pertain to a company's monetary goals. There are several types of financial managers, including controllers, cash managers and branch managers. While they serve different roles within a company, all are concerned with making sure a company's finances are in order.
The BLS reported that the lowest paid 10% of financial managers earned $67,620 or less in May 2018; the highest paid 10% of workers in this field earned $208,000 or more.
A master's degree in management could take you in various different directions. You might work as a computer and information systems manager, and earn around $152,860 or go into human resources management and make around $126,700 per year. Alternatively, you might become a financial manager, and get paid a median of $146,830 annually.