Benefits of a Master’s in Management for a Career in Business

Earning an advanced business degree is a way of enhancing your skill set and professional knowledge in order to achieve career advancement. There are many graduate-level business degrees on the market, but every degree presents its own benefits and challenges.

You’re likely already familiar with the Master of Business Administration (MBA). But MBA programs are designed for candidates who already have professional experience, so what do you do if you know you want to become a manager but don’t yet have much (or any) professional experience?

Enter the Master of Science in Management (MiM) program: the only graduate degree designed to prepare early-career professionals and recent bachelor’s degree graduates to become managers right away.

Is a Master’s in Management Worth It?

While each individual's career path will be different, a master’s in management is a great investment for those looking to advance their management careers without spending years working their way up the ladder.

MiM programs fast-track your career trajectory by providing you with valuable skills in management, problem-solving, analytics, communication and organizational behavior. Some of the benefits of this degree include:

• Skill development in core domains
• Career preparation for management and entrepreneurship
• Better competitiveness in the job market
• Enhanced earning potential and career opportunities
• Clear understanding of how to drive cross-functional organizational (and personal) success

5 Professional Benefits of a Master’s in Management

Earning a master’s in management offers a range of professional benefits, allowing you to make positive organizational change and enhance your own career progression.

1. Address Complex Organizational Challenges

Graduate degrees, like a master’s in management, are the place for you to gain advanced knowledge that is directly applicable to your workplace. Master’s in management programs provide students with a foundational business education, as well as strategic, analytical and critical thinking skills that allow you to make impactful decisions that address complex organizational challenges.

Most challenges in the professional environment can’t be solved with expertise in just one area. Real-world problems require interdisciplinary solutions. An MiM provides in-depth training in business strategy, operational success, business analytics and strategic problem-solving so that graduates can navigate challenging organizational considerations.

2. Meet Shifting Business Demands

The business environment has changed dramatically in recent years due to advances in technology, increasing globalization and population growth driving changes in key demographics. These are major challenges that are driving changes, but new shifts happen every day that cause businesses to require new skills and expertise from their employees.

A master’s in management can be crucial to helping you meet shifting demands by providing you with an adaptable skill set. Earning an MiM degree early in your career gives you the problem-solving skills to navigate complex challenges — even when the goalposts are constantly changing. Whether you need to analyze data to rebuild strategy efforts, navigate disruptive financial challenges or communicate ever-changing market performance with your team, an MiM’s tool kit can support your efforts.

3. Enhance Your Career Opportunities and Earning Potential

A master’s in management degree is a powerful way to enhance your skills and knowledge, but it is also an effective strategy for you to seek out higher-level roles and better-paying positions. MiM programs prepare candidates for a wide range of management roles, making it a highly versatile type of degree.

In addition to enhancing the job opportunities that are available to you, an MiM can greatly improve your earning potential. The average salary for management professionals is already higher than average, with the U.S. Bureau of Labor Statistics reporting a median annual salary of $122,090, which is more than twice as high as the median average wage for all occupations ($49,500). A master’s degree may increase your salary even more. Indeed reports (using data from the BLS) that master’s degree holders earn 16% more than bachelor’s degree graduates.

4. Stay Competitive in the Job Market

In addition to expanding your career opportunities, a master’s in management helps you differentiate yourself from other professionals who are aiming for the same roles as you. Earning your MS in Management degree after your bachelor’s is a great way to ensure that you’re prepared for these roles and that you stand out from the competition.

A master’s in management sets you apart and expands your opportunities by demonstrating your dedication to management. An MiM is also more than just a title on your résumé — you will acquire a substantial skill set and organizational knowledge so that you’re genuinely prepared for these roles.

5. Enjoy an Accessible Degree Format

MiM programs are meant to be accessible to a wide range of students, whether they have just graduated or are early-career professionals seeking to advance their careers while they work. Students can typically complete an online MS in Management in 1-2 years, even while working a full-time job.

The accessibility of an MiM is a game changer. Students can take advantage of all the benefits of this degree while maintaining their lifestyle and career responsibilities.

MiM vs. MBA

If you’re thinking about whether you want to pursue an MiM or MBA, there are a few factors to consider:

• Time commitment: An MBA program will typically have a more extensive curriculum, which requires a greater time commitment.
• Costs: While tuition and fees will vary between programs, most  MBA programs will cost more than MiM programs. This is mostly due to MBA programs requiring more credit hours to complete the degree.
• Career goals: If you’re a professional with several years of experience who is ready to take on very high-level leadership roles, an MBA may be your best fit. However, if you’re a more recent graduate looking to begin your management career, an MiM program is for you.
• Work experience: Most reputable MBA programs require at least two years of work experience. On the other hand, MiM programs are designed for recent bachelor’s degree graduates, positioning them to progress their careers quickly.

What Are the Essential Skills You Gain From a Master’s in Management?

Master’s in management programs connect students with skilled faculty who are able to help them strengthen critical skills in the realm of business and management. An MiM curriculum will provide you with valuable technical, foundational and interpersonal abilities.

• Strategic Leadership Skills: To be a strong leader, you can’t just manage your team, you need purposeful, human-oriented and effective leadership skills. To manage strategically, you’ll also need to build project plans based on long-term goals, rather than crisis management.
• Problem-Solving Skills: MiM programs are designed to foster critical thinking that can be applied to solve simple everyday problems and complex organizational challenges. In the real-world business environment, where problems won’t always be simple, this can be a critical differentiator in skills.
• Data Analytics Skills: As digital technology plays an increasingly prominent role in business, being able to collect and analyze data is a valuable skill. An MiM will teach you not only how to gather this data, but how to make decisions that are rooted in what you can learn from the numbers as well.
• Communication Skills: Working collaboratively, solving problems that involve numerous stakeholders, and adapting to changing business environments all require you to be able to communicate effectively with a variety of audiences.
• Organizational Behavior Skills: Understanding organizational behavior requires you to understand how individuals and groups of people operate in a business. An MiM will teach you how to uncover what motivates individual and team performance, and how that can impact other functional areas. This is key to leading teams, as well as navigating organization change.

Prepare to Lead With GW’s MS in Management

Advance your career with the GW School of Business’s Master of Science in Management, available online or in-person. Our expert-led blend of live discussion, real-world case studies and multimedia learning will help you develop the strategic thinking skills and global perspective needed for leadership. The MS in Management curriculum will also cover cutting-edge data tools and valuable strategy concepts.

We believe in supporting our students through their academic journeys: every student accepted into our summer and fall 2025 online graduate programs will receive an automatic tuition scholarship.

Learn more by requesting a brochure, or start your application today!

Since 1928, GW School of Business students have leveraged our global presence to pursue practical, insightful expertise in the world of business from an enviable vantage point. One of the most diverse cities in the United States, D.C. is home to leading organizations in the healthcare, hospitality, media, government, defense and technology sectors. Our faculty are thought leaders and educators in these areas and more, and they’re ready to provide you with the business and management expertise you need to succeed.

Sources

• MBA.com by GMAC — What Is a Master in Management?
• Forbes — How Population Growth Matters for Business
• GMAC — 2024 Report, Corporate Recruiters Survey
• U.S. Bureau of Labor Statistics Occupational Outlook Handbook —  Management Occupations
• Indeed Career Guide — How Much Does a Degree Increase Your Earnings?
• Business Because by GMAC — How a Master in Management Can Land You Exciting Jobs With Top Companies Worldwide