Pursuing an online master's in management can help you expand your career opportunities. This credential can open the door to a completely new career, or help you get a promotion or raise in your current field.
A master's in management is a type of business degree that focuses on management and leadership. Every industry seeks professionals with these skills, making it a very versatile degree that can lead to diverse career opportunities.
Although they share some similarities, a master's degree in management and a master of business administration (MBA) are not identical. A typical MBA program covers business foundations like accounting and finance, while a master's in management program focuses on the human side of business. Many MBA programs offer a management concentration.
The rest of this article includes a list of the best online master's in management programs and explains what you can expect while earning this degree. We also describe potential career opportunities for graduates with a master's in management.
Recommended Schools for an Online Master's Degree in Business Management
What Is a Master's in Management Degree and What Can You Do with One?
A master's in management is a type of business graduate degree that can help students learn how to effectively lead people and organizations to meet business goals. Management programs cover topics like management, leadership, strategy, and business fundamentals. Potential courses explore becoming ethical leaders, communication strategies, and business operations.
It typically takes two years or less for full-time students to complete a master's in management degree program. However, some schools may offer accelerated online master's in management programs that let learners graduate in less time.
Admission requirements for this degree include a bachelor's degree. Some programs may require the completion of introductory business prerequisites for applicants with undergraduate degrees in a non-business fields.
Management graduates can take on important roles in business, the nonprofit sector, and government. Career options for master's in management degree-holders depend on previous education and experience but may include sales manager, financial manager, computer and information systems manager, or human resources manager.
Is a Masters in Management Worth It in 2023?
Online master's in management programs can definitely pay off in 2023. To decide if earning a master's in management is worth it to you, research the cost of a prospective degree and your projected salary after graduation to calculate the return on investment.
Management professionals typically earn higher-than-average salaries and can expect a good career outlook in the coming years.
According to the Bureau of Labor Statistics (BLS), people in management occupations earned a median annual salary of $102,450 in May 2021, the highest wage of all occupational groups. The BLS also projects 8% growth for management occupations between 2021 and 2031, faster than the average for all jobs.
One of the lowest-paying positions you could pursue with this degree is preschool and childcare center director. These professionals earned a median annual salary of $47,310 in 2021, according to the BLS. These directors lead and oversee programs, staff, and daily activities at preschools and childcare centers.
One of the highest-paying roles potentially open to people with a master's in management is computer and information systems manager. The BLS reports that these workers earned a median of $159,010 per year in May 2021. Learn more about some of the best careers and their salaries below.
What Are the Best Careers and Salaries?
Online master's in management programs can prepare you for high-paying management careers in various industries. Management is a broad job category that encompasses every industry. Managers usually perform high-level work that may include overseeing other employees, creating business plans, and setting budgets.
Management roles include everything from architectural and engineering managers and financial managers to sales managers and natural sciences managers. Some of these roles require additional training, education, and/or relevant experience.
Tech-savvy individuals with significant computer experience might qualify for one of the highest-paying management roles: computer and information systems manager. These professionals earned a median annual salary of $159,010 in 2021, per the BLS.
Human resources managers are found in every industry and earned a median annual salary of $126,230 the same year. Many diverse fields also seek skilled training and development managers, who made a median wage of $120,130, according to the BLS.
Explore the table below for some of the best management careers and their salaries.
| Career | Median Annual Salary (May 2021) |
|---|---|
| Advertising, Promotions, and Marketing Managers | $133,380 |
| Architectural and Engineering Managers | $152,350 |
| Computer and Information Systems Managers | $159,010 |
| Financial Managers | $131,710 |
| Human Resources Managers | $126,230 |
| Natural Sciences Managers | $137,900 |
| Public Relations and Fundraising Managers | $119,860 |
| Sales Managers | $127,490 |
| Training and Development Managers | $120,130 |
MBA vs. MIM: What's the Difference?
An MBA is a broader degree that focuses on various business functions, including finance and accounting. A master's in management is a specialized type of business degree program that teaches general business knowledge but spends significant time exploring how people impact business. Management majors spend more time learning management and leadership skills compared to MBA students.
In many cases, students can choose a management-focused concentration as part of an MBA curriculum.
Students decide whether to choose an MBA or MIM based on their career goals. Learners who know they want to pursue a management role can benefit from the specialized knowledge and skills gained while pursuing an online master's in management. Those who want to keep their options more open may want to earn an MBA.
Recommended Schools for MBAs
Master of Arts in Management vs. Master of Science: What's the Difference?
Most online master's in management programs offer a master of science (MS) degree rather than a master of arts (MA) degree. In general, an MA includes a more liberal arts and general business focus, potentially preparing students for a broader variety of career opportunities. An MS typically emphasizes specialized business skills.
However, an MA in management would be uncommon — you are much more likely to find programs offering an MS in management.
Recommended Schools
How Long Does It Usually Take to Get a Master's Degree in Management Online?
The typical master's in management online program takes less than two years for full-time students to complete. Some schools offer accelerated online degrees that include access to year-round classes or a competency-based curriculum that lets learners move on from one course to another after they master the material.
Online management programs appeal to many students, but especially working professionals who want to avoid putting their life on hold while earning a graduate degree. Most online programs provide convenience and flexibility, letting students complete coursework whenever and wherever they want. This reduces some of the barriers to higher education that a traditional on-campus program may pose.
What Are the Main Courses I Will Take When Getting a MIM?
The chart below describes courses students might take in some of the best master of management programs. The exact curricula and classes vary by school.
Master's in Management Curriculum
Operations Management: This class explores the processes, principles, and practices of managing operations. Topics include operations strategy, project management, and quality assurance.
Legal and Ethical Environment of Business: Students learn how the law impacts business practices and processes. The class provides an introduction to the legal system, employment law, and the ethics of decision-making.
Managing People and Organizations: Explore the ways that leadership and organizational behavior influence how organizations function. Topics include conflict management, team-building, and leading organizations through change.
Marketing Management: This introductory course explains high-level marketing principles and practices. Students learn about topics like segmentation, pricing, brand strategy, and new product development.
Management Accounting: Management accounting explores financial decision-making and problem-solving. Topics include process costing, cost management, and cost systems
Recommended Schools
Colleges Offering the Best Programs for Online Masters in Management
A large selection of online options offers students endless opportunities in the field of management. Before you write your tuition check, it is imperative to ensure you are enrolling in a quality program.
Our top 10 ranking is determined by three factors: student feedback, accreditation, and graduate success. Past and current students are gathered from a range of online student rating sites. Topics include campus, course selection, and faculty relations. Accreditation is dependent on entrance exams, student/faculty ratio, graduation rate, endowment, and reputation.
Graduate success is measured by weighing the financial costs, including aid, against average salary. We rely on data from the National Center for Education Statistics' Integrated Postsecondary Education Data System (IPEDS) database, Payscale, and individual college websites.
These rankings include sponsored results from our partners. We use publicly available provisional datasets from IPEDS to inform the data for these schools. All data is current as of the date this article was published. Program-specific information may vary.
