By Brian Fairbanks and Laurie Davies
Are you management material? Do you think big picture and like strategizing for success? Are you good at understanding people’s strengths and weaknesses as they pertain to a professional setting? If this sounds like you, it may be time to consider a career in business management — and a Master of Science in Management (MSM) may just be the first step in the right direction.
Similar to a master’s in business management or an MBA, an MSM degree prepares students for jobs in business management and administration. A good program will include such curriculum as business operations, regulations (in general, not just related to a specific industry, such as oil and gas), research, analytics, laws and ethics (now more important than ever as many corporations and companies strive to be good community partners).
“Today, managers are the lifeblood of an organization," says Dr. Kevin Wilhelmsen, dean of the College of Business and Information Technology at University of Phoenix (UOPX). "Aside from the traditional elements of management, they also provide motivation and inspiration to a workforce that needs guidance and organizational support. Our management program provides in-demand skills for future leaders and managers to demonstrate organizational efficiencies and performance."
As with an MBA, students who earn this graduate degree are often on track to pursue any one of a variety of business management careers. According to the U.S. Bureau of Labor Statistics (BLS), management jobs are expected to grow roughly 5% between 2019 and 2029, which is a higher rate than the average projected for all occupations combined. (It’s also the equivalent of more than a half-million jobs.)
As stated by BLS: “Employment growth is expected to be driven by the formation of new organizations and expansion of existing ones, which should require more workers to manage these operations.”
The career outcomes for this degree program are aligned to general and operations managers. Responsibilities for such roles include determining and formulating policies and providing overall direction for companies or organizations (within guidelines set up by a board of directors or similar governing body).
As noted by UPOX, general and operations managers “plan, direct or coordinate operational activities at the highest level of management with the help of subordinate executives and staff managers.”
General and operations manager roles may include:
So, how much can you make in management? According to BLS, quite a bit.
The median annual wage for management occupations was $109,760 in May 2020, as reported by BLS. This salary, BLS goes on to say, was the highest of all the major occupational groups.
Of course, managers need adequate work experience in addition to a solid, business-related education in order to succeed.
Curious about what exactly is involved in each managerial role? Here’s what you need to know.
Note: The salary ranges are not specific to students or graduates of University of Phoenix. Actual outcomes vary based on multiple factors, including prior work experience, geographic location and other factors specific to the individual. University of Phoenix does not guarantee employment, salary level or career advancement. BLS data is geographically based. Information for a specific state/city can be researched on the BLS website.
Deciding which avenue to pursue can be daunting, which is why career counseling can be extremely helpful. At UPOX, for example, students and graduates enjoy lifetime access to career advisors who can help them identify and prepare for career opportunities.
No matter which career you choose, pursuing a graduate degree in a management program, like an MBA or MSM, will impart lasting skills designed to benefit your career.
Business and management professionals who are looking to take the next step in their careers should consider earning a Master of Management. Better yet, an online university can allow busy, working professionals to earn their degree without putting their career on hold.
UOPX offers a Master of Management that can be earned online in approximately 16 months for $698 per credit. Students can begin the degree program when they’re ready and expect to learn many of the top skills required for a career in management.
At UOPX, the curriculum's core courses focus on five skill sets. They are:
Students pursuing this online master's degree must maintain a minimum GPA of 3.0 and complete 11 3-credit-hour courses. Each course lasts six weeks and imparts valuable business knowledge in management studies, including leadership, finance and accounting, organizational change and entrepreneurship.
Admissions to the degree program are not dependent on a GMAT score but do require a candidate to hold a bachelor's degree.
Like any investment, a Master of Management degree has its rewards. Wilhelmsen explains:
“According to a recent Master of Management alumni survey (2020), 89.1% of MM graduates reported that their graduate management degree ‘helped to develop the knowledge and skills needed to be successful in my job.’
In the same survey, 86% of MM graduates ‘would recommend the MM program they completed at UOPX to others.’
Adding to this the strong return-on-investment reports out there regarding a graduate business or management degree for current and future business professionals, it is a powerful message for those who wish to advance their education and skill development for careers in business.”
Ready to get started with a Master of Management degree? Click here to explore the porgram at University of Phoenix!
About University of Phoenix
As pioneers in online higher education since 1989, University of Phoenix is an accredited online university for working adults. We are proud to offer quality educational pathways through flexible, career-focused online degrees, certificates and professional development courses that fit into your life and options to save you time and money. Our students are supported every step of the way, including career services for life.
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