What can you do with a Master of Management?

• Graduates with a Master of Management are prepared to pursue careers as business managers, general managers, store managers and operations managers.
• The U.S. Bureau of Labor Statistics projects management jobs to grow 5% between 2019 and 2029.
• Curriculum covers such topics as operations, strategic planning and leadership skills.
• The Master of Science in Management (MSM) degree at University of Phoenix can be earned completely online in approximately 16 months.

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:

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

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.

• General managers take a big-picture approach to organizational success and can be responsible for a variety of tasks, from formulating policies to developing staff schedules and assigning work. The median salary in 2020 was $103,650, according to BLS.
• Operations managers are similar in terms of overseeing strategies to achieve larger success. Managerial responsibilities may include planning the use of materials and human resources as well as directing daily operations. The median salary in 2020 was $103,650, according to BLS.
• Business managers can work in a variety of industries. They oversee day-to-day operations and staff to achieve larger goals. In administrative services and facilities, managers earned a median salary of $98,890 in 2020, according to BLS.
• Store managers oversee employees and handle a number of finance-based responsibilities such as purchasing, budgeting and accounting for a business. The mean (not median) annual salary for this role in 2020 was $47,300, according to BLS.

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:

• Management: Synthesize management functions to support goal achievement in a variety of 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 a variety of business environments.
  
• Communications: Integrate business law, regulations and ethics in the management of diverse organizations.

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 program at University of Phoenix!