Get information about a master’s degree program in business management and its education requirements, coursework, job and wage outlook, and continuing education choices.
Master’s Programs in Business Management
Students enrolled in master’s-level programs in business management gain leadership and managerial skills. Program graduates have the skills necessary for top management positions in corporations and organizations. Coursework in a master’s degree program in business management focuses on the foundations of management as applicable to a business setting.
Coursework may cover topic areas in business, with an emphasis on social responsibility and sustainability. Prospective upper-level executives and managers learn about management theories and resources, organizational behavior, and personnel management. A computer-simulated management project may also be in the program. In completing the project, the students may employ their strategic, financial and quantitative knowledge.
Admission criteria typically require incoming students to hold a bachelor’s degree in business or a related field. Students with bachelor degrees in a non-business area may have to complete prerequisite business courses before they can start on core courses. Additional requirements for admission include the submission of letters of recommendation, a letter of intent, and GRE or GMAT scores. Undergraduate coursework in communications, accounting, economics, computer fundamentals, management, quantitative methods, and marketing may have to be completed by prospective students.
Coursework may include traditional core business subjects augmented by courses in emerging areas, such as new media and global entrepreneurship. The curriculum may entail the investigation of case studies, performance of computer simulations, giving of formal presentations and completion of projects. Core coursework may cover topic areas such as:
•Global business contemporary issues
•Business decisions economics
•Information and knowledge systems
•Diversity and a global economy
•International and corporate finance
Job and Wage outlook
After receiving training to become effective executive leaders, program graduates can seek upper-level positions in management. Over the 2010 – 2020 decade, a slower-than-average job growth rate has been predicted for top executives (U.S. Bureau of Labor Statistics). The field is expected to be competitive especially as wage levels are relatively high. In 2014, general and operations managers brought in an average annual wage of $117,200. During that year, chief executives banked $168,140 (BLS).
Continuing Education Choices
Program graduates may seek continued education to ensure career advancement from upper-level managerial positions to positions as chief executive officers, executive vice-presidents, or chief operating officers. Companies offer training programs, conferences and seminars that these professionals can attend in order to facilitate the advancement. Executive development training is also offered, specifically targeted at an executive’s background in areas like accounting or engineering.