Master’s in Management Degree Overview

Master’s in management programs teach the strategic skills leaders rely on to guide their organizations. These degrees emphasize change management and ethical leadership while exploring fundamental business functions like accounting, human resources, and marketing.

Students often view these programs as faster, cheaper alternatives to a master of business administration (MBA). Unlike some MBA programs, you do not typically need professional management experience to meet master’s in management admission requirements.

This guide introduces master’s programs in management, highlighting career paths, costs, concentrations, curricula, and more. Explore these and other topics as you weigh the merits of pursuing this degree.

A master’s in management can open doors to leadership-track roles in diverse industries. By combining the degree with relevant undergraduate education, you can qualify for jobs like:

According to the U.S. Bureau of Labor Statistics (BLS), these roles have 2023-33 job growth projections of as high as 11%.

As you gain experience in these roles, you can advance to become a management consultant, business director, senior manager, or business executive.

The salary you can earn with a master’s in management varies according to factors like specific role, location, and experience. The career paths below represent a cross-section of the jobs you can pursue upon completing your degree.

Human resources specialists evaluate job candidates, integrate new hires into the workplace, and manage employee relations. When combined with experience, the skills you build in a master’s in management program can help you advance into a human resources manager role.

Source: BLS

Management analysts examine business practices to identify target areas for improving efficiency and supporting desired organizational outcomes. The role requires deep insights into effective organizational management strategies, which you can learn in a master’s in management program.

Source: BLS

Also known as general managers, operations managers guide and supervise organizations’ daily operations. These professionals need solid knowledge of all fundamental business areas. They also need the communication, conflict resolution, and managerial skills you can build in a master’s in management program.

Source: BLS, O*NET Online

Project managers oversee goal-oriented projects in organizations. They delegate available human, financial, and organizational resources while reporting progress to supervisors. A master’s in management and professional experience can help you earn globally recognized project management certifications, which can open doors to multiple employment opportunities.

Source: BLS

2020 data from the National Center for Education Statistics (NCES) placed average tuition and fees for graduate programs in business, management, or marketing at $15,925 per year. This figure does not include living costs, books and course materials, or any other educational expenses.

Compared to an MBA, master’s in management programs can offer significant savings. Many schools charge MBA-specific tuition, which can be much higher than tuition rates for other graduate-level programs at that institution. Indeed, the same 2020 NCES data reveals an average MBA program cost of $17,058 — over 7% higher than the average cost of a non-MBA management program.

Scholarships, fellowships, and grants can directly lower your educational costs without requiring repayment of debt with interest. You can also take out federal or private education loans to bridge any remaining funding gaps.

Use these links to connect with additional financial aid resources:

To qualify for admission to a management master’s program, you need a bachelor’s degree. Schools often prefer candidates with strong academic records. However, you do not necessarily need an undergraduate background in a related field. In fact, some schools specifically exclude business majors from their master’s in management programs, instead routing them into MBA tracks.

Master’s in management degrees are often designed for bachelor’s graduates with little to no relevant professional experience. As such, schools sometimes restrict admission to applicants who have completed their undergraduate degree in the recent past.

Common application materials include:

Test score requirements, if they apply, will usually include the GRE or GMAT. However, many master’s in management programs have test-free admission policies.

Master’s in management programs typically consist of 10 courses or 30 semester credits. They normally require 1-2 years of full-time study, but some fast-paced programs offer paths to graduation in 9-10 months. Schools usually offer part-time enrollment if you need a lighter course load, but this option lengthens your completion timeline.

Some schools have dual-degree programs, which allow you to combine a master’s in management with another master’s degree in a complementary field. These options typically add at least one additional year compared to a standalone master’s in management, but they have the benefit of expanding your expertise and career opportunities.

Examples of dual-degree focus areas for master’s in management programs include:

Choosing the right degree can be challenging, especially in a field like management where the knowledge you have — or lack thereof — can be the primary determinant of your career options and advancement potential.

To help you make sense of your many options, prioritize these factors when comparing and evaluating programs:

Accreditation is always a key consideration when choosing a school. Start by confirming the accreditation status of the program’s host institution. Every school on your list should hold institutional accreditation from an agency with recognition from the Council for Higher Education Accreditation or the U.S. Department of Education.

Once you’ve determined that a school holds institutional accreditation, you can also research whether a prospective master’s in management holds programmatic accreditation. This optional designation affirms that a degree’s coursework meets professional standards. For management programs, look for accreditation from organizations like AACSB and the Accreditation Council for Business Schools and Programs.

Finally, if you’re going to pursue an online master’s in management from a college or university in another state, make sure that school is properly authorized to educate students in your jurisdiction. You can use an institution directory to aid your research.

Many master’s in management programs offer concentration tracks, which focus your studies through specific disciplinary lenses. Common specialization options include:

Leadership concentrations are also common, and some schools even brand their programs as master’s degrees in management and leadership.

For degree designations, most schools award a master of science in management (MSM) or a master’s in management (MM or MIM). While relatively rare in the United States, international institutions commonly use the MMgt degree designation.

Every master’s in management program has its own curriculum. Even so, you can generally expect to find coverage of multiple core management concepts at many schools. Programs usually build to an immersive capstone or another major project as their culminating experience.

Examples of courses you are likely to encounter include:

Master’s in management programs can use face-to-face, online, and hybrid delivery models. Face-to-face programs require campus-based classes, while online programs involve live (synchronous) or prerecorded (asynchronous) sessions distributed over internet-based platforms.

Hybrid programs combine these modalities in variable proportions — some mix online and in-person courses, while others require only periodic on-campus attendance for residencies or orientations.

Face-to-face programs can make it easier to network with peers and faculty members, enhancing your academic success and paying dividends in your future management career. If the social side of learning is important to you, consider a campus-based option.

Online programs — especially ones with asynchronous classes — optimize scheduling flexibility. They reward independent learners, but trade off the social elements of traditional schooling.

Hybrid programs are a good option if you want to balance the benefits of face-to-face and online learning. However, you usually need to live within commuting distance of your school — a limitation that does not necessarily apply to 100% online programs.