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One of the best qualities of a business management degree is its versatility. The concepts, theories, and practical experience you acquire while earning your degree will help prepare you for managerial roles in virtually any type of organization 鈥� for-profit or non-profit, start-up or multinational 鈥� in any industry.  

Yes, if you aspire to work as a mid- or high-level manager earning a lucrative salary, a master's in management may be worth it. A graduate degree is likely to make you a more competitive job candidate. It lets employers know that you've acquired the type of advanced knowledge and skills that may help an organization perform at a higher level.

However, whether a graduate degree in management is worth it depends on each individual's circumstances and career goals, so it might be helpful to consider some pros and cons. One potential benefit is that management master's degrees generally don't require work experience, so you can apply immediately after finishing a bachelor's degree in management or another subject. In addition, these degrees typically let you specialize in the area of business that interests you.

One notable drawback is that U.S. recruiters intend to hire more MBAs than master's graduates in management. In a , the Graduate Management Admission Council (GMAC) found that 52% of corporate recruiters planned to hire master's in management alumni, compared to 91% who planned to hire MBAs. However, hiring rates are much higher in Europe, which might be good news if you want to pursue global management opportunities. 

In addition, studying online may lead to fewer networking opportunities. Building a professional network is usually a great , but remote learning can make it more challenging to forge helpful relationships with other working professionals and mentors.

Business administrators typically focus on the day-to-day operations of a department or organization. Their primary responsibility is to ensure that things run smoothly and efficiently. Business managers, on the other hand, focus on big-picture planning and strategy 鈥� abilities that are usually derived from prior management experience and education. 

The MA and MS management programs have many overlapping characteristics with the practically oriented Master of Business Administration (MBA) program, with some exceptions. Some management master's degree programs are similar to the MBA in that they include a general array of business classes such as marketing, management, accounting, and finance. Others concentrate more on a particular management area, such as leadership, management science, or project management.

While master's in management programs have typically been more common in Europe, these degrees have become increasingly popular in the U.S. over the last few years. Master's in business management degrees tend to take less time to complete, have lower program costs, and attract students with fewer years of work experience, making them more accessible than many MBA programs.

MBA degree programs are often structured in cohorts, meaning each group of incoming students takes all of the same classes together. Cohort programs can be beneficial for students seeking a sense of community and networking opportunities. On the other hand, these students might find the curricula of Master in Management programs preferable since they tend to focus more on group projects, while MBA programs tend to focus more on reviewing case studies. Many management programs also require capstone projects, where students analyze and solve a specific business problem.

There are many considerations when applying to a degree program, so it's helpful to focus on the factors you consider most important. Ask yourself the questions below to see whether they spark any ideas about what matters in your education.

Is this school regionally accredited? Accreditation should be a top consideration. It means that an independent agency attests to the quality of a college's faculty, curricula, and services. Enrollment in an accredited college or university is required to qualify for federal financial aid. It may also be required for you to transfer credits to another institution.

Is the school's management program accredited? Academic programs can also earn programmatic accreditation from agencies that focus on specific majors. For management, the (ACBSP) accredits both traditional and online degrees, meaning that ACBSP's stamp of approval testifies to a program's quality.

What's the true cost of this degree? Colleges all charge different rates for tuition, mandatory fees, and room and board for in-person learners. To calculate the total cost, add these expenses together for each school you're considering, then top it off with another , which is the Department of Education's estimate for yearly textbook costs. Keep in mind that cost doesn't equal quality and that more affordable programs may lead to better returns on your investment.

Would I prefer online or on-campus study? Some colleges only offer one option, so committing to study either online or in person may limit your list of possible schools.

Does this program have an internship requirement? Internships can provide an opportunity to use your knowledge and management skills in the real world. This experience may give you practical situations to reference when you interview for jobs, which most hiring managers find helpful.

The intended outcome of a Master of Arts (MA) or Master of Science (MS) in management program is career advancement by helping graduates secure a management position in their field. The potential career paths will vary based on a business program's focus area, but we list a few possibilities here. The following salary and job outlook data for business leaders come from the Bureau of Labor Statistics.

Construction Manager

plan and oversee construction projects. They need technical knowledge of construction practices alongside management know-how to effectively plan budgets and shepherd employees through complex processes.

Engineering Manager

Like construction managers, must combine technical engineering knowledge with leadership skills such as motivation, communication, and strategic thinking. This is one of the highest-paid management fields.

Industrial Production Manager

ensure that manufacturing facilities run smoothly. They plan production quotas, write and enforce safety policies, and purchase necessary materials.

Marketing Manager

Executives rely on to identify who their employer should be targeting for sales. Marketing leaders need to understand their employer's products and services, along with market forces such as price elasticity of demand.

Medical and Health Services Manager

Healthcare facilities want to hire with specialized knowledge because of the health, safety, and ethical considerations involved. This field is growing much faster than most occupations in the U.S. because the aging population is leading to a surge in healthcare requirements.

Online master's degrees in management that are not online MBA programs tend to focus on leadership in a particular industry or function, such as engineering, project management, or supply chain management. Therefore, professors design these business education programs to do two things: increase students' general management knowledge and help them build the skills they need to lead employees in their subject area.

Most of the general management courses are similar across on-campus and online programs. These classes contain lessons on business strategy, adaptive decision-making, and financial management. The content-specific curriculum varies by program focus or concentration, so we've detailed coursework for some of the most common management graduate programs below.

• Business Analytics | Teaches students how to use data to understand and solve business challenges
• Engineering Management | Aims to help experienced engineers learn practical skills for managing teams of fellow engineers 
• Information Technology Management | Seeks to give IT experts the business knowledge necessary to guide their departments and represent their needs to upper management 
• Project Management | Covers best practices for planning and completing cross-functional projects within time and budget constraints