In a management master's degree program, students learn to effectively hire and fire employees, create and meet business objectives, analyze financial records and maintain productivity. Many management programs are designed to allow students to keep a full-time career while attending school. At the doctoral level, studies will emphasize business analysis and strategic management planning and research. With a Ph.D. in Management, managers can pursue top executive positions with nonprofit organizations, corporations, government agencies and other large companies that have high-profile managers. Doctoral degree programs can also prepare graduates to pursue academic careers at colleges or universities.
A master's degree program requires a bachelor's degree for admission, a thesis, and takes 2 years to complete. A doctoral degree program requires a master's degree for admission, a dissertation and takes several years to complete. Programs are often offered entirely or partially online.
Master of Science in Management
A management master's degree program is intended for students who do not wish to pursue the traditional Master of Business Administration (MBA). While the MBA provides general business operation knowledge, the management master's degree provides focused coursework that teaches students to manage employees and organizations and make important executive decisions.
Management master's degree programs often require students to complete a thesis, though some programs offer a non-thesis track. In a master's degree program, students learn to effectively hire and fire employees, create and meet business objectives, analyze financial records and maintain productivity. Many management programs are designed to allow students to keep a full-time career while attending school.
Management courses in a master's degree program prepare students to work as high-level supervisors with various business organizations. Because management applies to many industries, courses cover a wide spectrum of business operation concepts. These courses allow students to focus on specific areas of management, such as health care, telecommunications, computer systems design, software, financial investments and manufacturing management. Courses may include:
- Managerial leadership
- Financial accounting
- Human resources management
- Strategic operations management
- Business ethics and legal concepts
- Project management
Ph.D. in Management
A Ph.D. in Management gives managers the best career prospects and salary opportunities. Managers with a Ph.D. can also pursue independent teaching and research opportunities with businesses and universities. A management Ph.D. program focuses on research and case studies within business operation and management. In a Ph.D. program, students must complete a doctoral dissertation on an aspect of business management. Courses, therefore, prepare students to conduct research, gather information and present findings in an efficient and effective way. Many courses allow students to analyze situations and business environments that are encountered in the day-to-day management of businesses. Typical courses include:
- Advanced strategic planning
- Statistical management research
- Nonprofit and corporate management
- Managing information technology systems
- Risk management
- Operational analysis and business assessment
Popular Career Options
With a master's degree in management, business professionals can find any number of supervisory or management positions. Most graduate students find management careers with corporations, nonprofit organizations, local government agencies and other areas of business. A master's degree allows managers to pursue entry-level, intermediate and advanced management positions, including:
- Management analyst
- Business general manager or president
- Chief executive officer
- Chief operating officer
- Human resources manager
- Management consultant
There were nearly 2.6 million top executive business professionals in 2018, according to the U.S. Bureau of Labor Statistics (www.bls.gov). Top executives include chief operating officers, chief executive officers, company presidents, general managers, program directors and other management personnel. Top executives with a Ph.D. in management have the best career prospects and can pursue opportunities in a number of industries, including finance, investments and insurance, manufacturing, telecommunications and information technology.
According to the U.S. Bureau of Labor Statistics, general managers earned a mean annual salary of $123,030 in May 2019. Salaries are dependent upon location, experience, management responsibilities and industry. General managers in computer systems design earned a mean annual salary of $163,890 in 2019, while managers in management of companies and enterprises earned $161,720 annually.
Continuing Education Information
A master's degree in management is suitable for most high-level management positions. However, large organizations may require managers to have a Ph.D. in Management for highly sought after management positions. Additionally, a Ph.D. in Management can lead to teaching and research positions with colleges, universities, government agencies and various business organizations.
Aspiring professionals with a master's or doctoral degree in management can enjoy a lucrative career in computers, finance, telecommunications, investments and other in-demand industries. These advanced degrees can open up many opportunities.