What can you do with a master's in management?

Are you management material? Do you think big picture and enjoy strategizing for success? Are you good at understanding people’s strengths and weaknesses in a professional setting? If this sounds like you, it may be time to consider a career in business management — and a Master of Management (MM) may just be the first step in the right direction.

Here we speak with Joseph Aranyosi, an associate dean of the College of Business and Information Technology at University of Phoenix, about the management program at UOPX and all that it entails for those eager to expand their skillset.

What is a Master of Management degree? 

Similar to a master’s in business management, or MBA, an MM degree prepares students for jobs in business management and administration. A good program includes such curriculum as business operations, general regulations, research, analytics, laws and ethics (now more important than ever as many companies strive to be good community partners).

“Managers are the linchpins of business operations, translating vision into action, fostering employee collaboration and steering teams toward success,” says Aranyosi. “Our management program provides students with foundational skills necessary to compete within an increasingly demanding and technologically expanding global business environment.”

Master’s in management jobs 

As with an MBA, the MM program positions students to pursue any one of a variety of business management careers. According to the U.S. Bureau of Labor Statistics (BLS), management jobs are projected to have 1.1 million openings each year, growing faster than the average forecast for all occupations combined.

BLS states: “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 the MM program at UOPX are aligned with the following positions:

• Business managers
• General managers
• Operations managers
• Store managers

Business managers 

Overview: Business managers’ primary job duties include sharing business goals and objectives with employees. In addition, supervisory duties play a substantial role.

Education requirements: Most business managers are required to have a bachelor’s degree (often in business or related fields), but it is possible to step into this role with a mixture of experience and a high school diploma.

Salary: In May 2022, business managers (among other administrative services managers) earned between $59,070 and $178,870 annually, according to BLS. The significant variation in this range is mainly due to differences among organizations, locations and levels of experience.

Job outlook: This role is projected to grow by 5% between 2022 and 2032, according to BLS.

General/operations managers 

Overview: General managers (GMs) take a big-picture approach to organizational success and can be responsible for such tasks as formulating policies, developing staff schedules and assigning work.

Overview: Operations managers also oversee strategies to achieve or improve success. Their daily responsibilities vary but can include allocating resources such as operational materials or staff hours, overseeing project completion and developing organizational policy.

Education requirements: Degree requirements for general managers vary depending on the industry, organization size and business needs. Most companies require their GMs to have a bachelor’s degree in a business-related field, but some companies prefer master’s degrees.

Salary: Much like education requirements, the compensation for general managers and operations managers varies. In May 2022, GMs and operations managers earned from $43,470 to $221,270.

Job outlook: The job outlook varies depending on specific fields, location and other factors. 

Store managers 

Overview: Store managers are a specific type of first-line supervisor for retail sales workers. Their job duties typically involve management functions, including supervisory work, personnel decisions, accounting, payroll and budgeting.

Education requirements: While many stores accept management candidates with bachelor’s degrees, some employers prefer candidates have master’s degrees for management roles.

Salary: In May 2022, store managers earned between $29,310 and $74,580, according to BLS.

Job outlook: BLS estimates job growth of 1.1 million openings a year across all management occupations between 2022 and 2032.

BLS Occupational Employment Projections, 2022-2032 is published by the U.S. Bureau of Labor Statistics. This data reflects BLS’ projections of national (not local) conditions. These data points are not specific to University of Phoenix students or graduates.

This article is not intended to serve as financial advice. All financial decisions, including investments, should be made carefully and potentially with the guidance of a financial planning professional.

Deciding which business management career is right for you 

Deciding which avenue to pursue can be overwhelming. That’s why career counseling can be beneficial. At UOPX, for example, students and graduates enjoy lifetime access to career advisors who can help them identify and prepare for career opportunities.

No matter which type of management career you choose, pursuing a graduate degree in a management program, like an MBA or MSM, can impart lasting skills designed to benefit your career.

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.

Earning a Master of Management 

Business and management professionals looking to take the next step in their careers may consider earning a Master of Management, especially if they’ve already earned a Bachelor of Science in Management. For those with limited time, online master’s degrees in business allow busy, working professionals to earn their degrees without putting their careers on hold.

UOPX offers a Master of Management, the program length being 16 months for $698 per credit. Classes begin throughout the year, and students can expect to learn many of the top skills required for a career in management.

Specifically, the program’s core courses focus on five skill sets. They are:

• Management: Synthesize management functions (e.g., planning, organizing, leading and controlling) to support goal achievement in various organizations.
• Strategic planning: Align strategic management competencies with organizational needs to foster innovation and facilitate change within dynamic business environments.
• Leadership: Synthesize leadership skills to support strategic execution in rapidly changing business environments.
• Operations: Evaluate business research and analytics to support accountability in planning and decision-making in various business environments.

Students pursuing this online master’s degree must maintain a minimum GPA of 3.0 and complete 11 three-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.

Admission to the degree program does not depend on a GMAT score but candidates must hold a bachelor’s degree.

Learn more about this graduate program when you request additional information on the UOPX website.