Business Programs That Might Interest You
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What is an MBA in Management
An MBA in Management is the most popular program offering for B-Schools across the U.S. Whether it’s operations, sales, marketing, or financial management, an MBA in Management is a comprehensive course of study you can immediately apply in the business world. You learn the latest theories and best practices in business principles, organizational leadership, and managerial change. Business students learn how to apply their skills within corporate environments, entrepreneurial settings, non-profits, and in the ever-changing global marketplace.
The general management concentration teaches the B-Student in-depth leadership skills and practical ways to supervise teams, handle organizational change, and manage diversity in the workplace. An MBA in Management program gives students access to cutting-edge technology, whether it’s CRM software, supply chain management system, or state-of-the-art quality assurance platforms. The specialization is not limited to any one particular field; but instead, provides students with the tools to manage cross-functional teams. A B-Student who graduates with an MBA in Management is armed with a highly-respected degree which allows them to enter some of the hottest markets as a manager: IT, Healthcare, Real Estate, Finance, and Entrepreneurship.
Whether you plan on leading an e-commerce sales team or starting your own consulting business, the MBA in Management gives aspiring B-Students all the tools needed to succeed in the ever-changing corporate world. Top business schools with a very good reputation have a wealth of opportunity beyond the classroom. Whether it’s landing a higher salary after graduation, securing a top management position or starting a consulting business, an MBA in Management gives students the knowledge and skills for leadership positions in executive management, sales and marketing, human resource management, consulting, and financial management. This degree is offered both in a traditional on-campus and distance learning formats. Students can choose from part-time Executive, full-time online, and hybrid MBA programs depending on the institution.
The management track will provide a solid foundation in business fundamentals designed to improve your skills as a company leader. An MBA in Management integrates the latest technology while teaching students real-world business application via the case study methodology. With the goal of advancement into leadership roles, graduates obtain a firm understanding of protecting the company’s bottom line while catering to the organization’s mission statement. The management MBA will transform you from a business professional to a successful leader.
How is an MBA in Management Different Than a General Business MBA
The difference between an MBA in Management versus General Business is marginal. You will most likely have anywhere between 15 to 21 additional credits in management theory coursework. Some of the top employers that hire MBA graduates include Deloitte, Ernst & Young, Boston Consulting Group, Apple, IBM, Procter and Gamble, and Amazon. Both the MBA in General Business and the MBA in Management will provide a comprehensive overview of high-level business theories and practices. Most MBA programs incorporate real-world case study analysis into the program.
In the General Business Concentration, students take a wide range of business-related coursework. Whether it’s Organizational Change, Business Law & Ethics, or Entrepreneurship, the MBA in General Business prepares students for a diverse set of careers, rather than a specific field of study. Students become well-rounded business managers and can lead diverse teams. Fortune 500 companies seek general business graduates for they develop into well-rounded leaders capable of analyzing a firm’s financials, its operational teams, and its managerial direction. They are savvy employees within a firm capable of grasping business theory, management principles, and are trained to dissect even the most complicated financial statements.
In the Management concentration, students are molded into the next generation of business leaders. They learn how to spearhead change in global business environments. Included in the MBA curriculum will be business foundation courses (Financial Management, Operational Management, Mico/Macroeconomics, Business Law, Statistics). For students seeking management positions, additional coursework in Management theory, quantitative analysis, and business ethics is added to the curriculum.
What is the Career Outlook Managers with an MBA
Employment of Managers is projected to grow 10% through 2026, faster than the average for all occupations. Managerial tasks, including hiring, training, motivating, and leading teams will remain important and are extremely applicable skills.
The largest employers of administrative services managers were as follows:
|Educational services; state, local, and private||13%|
|Healthcare and social assistance||13%|
|Professional, scientific, and technical services||9%|
|Finance and insurance||8%|
|Local government, excluding education and hospitals||7%|
What are Average Salaries for Managers with an MBA
The median annual wage for managers is $90,050. The lowest 10% earned less than $49,270 and the highest 10% earned more than $159,330.
The median annual wages for managers in the top industries were as follows:
|Finance and insurance||$100,240|
|Professional, scientific, and technical services||97,850|
|Local government, excluding education and hospitals||$91,310|
|Educational services; state, local, and private||$86,820|
|Healthcare and social assistance||$83,810|
Compared to the average median salary of $36,237 for graduates with a liberal arts degree, holders of undergraduate business degrees earn $49,035. Those with an MBA can expect to earn a starting paycheck of $95,000 — almost 100% more than a graduate with only a business undergraduate degree.
Difficulty finding employment is generally not an issue for those with an MBA degree in Management. Graduates from MBA programs enjoy a 95% employment rate.
What Can I Do With an MBA in Management
Managers usually take on leadership roles inside one of the organization’s operational departments. Whether it’s customer service, sales, marketing, business development, or accounting, Managers are responsible for the day-to-day workflow of their respective department. They are usually bound by performance metrics and are expected to develop their team. Their specific responsibilities vary, but managers typically supervise activities that include training new reps, handling escalated customer issues, and working with vendors to ensure a smooth delivery of a company’s products/services to the end consumer. In a small organization, they may direct all support services and may be called the business office manager. Large organizations may have several layers of managers who specialize in different areas. Managers typical advance from Assistant Manager to Manager to General Manager to Director. The following are examples of types of managers:
- Compensation and Benefits Managers plan, develop and oversee programs to compensate employees.
- Facility Managers oversee buildings, grounds, equipment, and supplies. Their duties fall into several categories, including overseeing operations and maintenance, planning and managing projects, and dealing with environmental factors.
- Human Resources Managers plan, direct, and coordinate the administrative functions of an organization. They oversee the recruiting, interviewing, and hiring of new staff; consult with top executives on strategic planning; and serve as a link between an organization’s management and its employees.
- Postsecondary Education Administrators oversee student services, academics, and faculty research at colleges and universities. Their job duties vary depending on the area of the college they manage, such as admissions, student life, or the registrar’s office.
- Records and Information Managers develop, monitor, and manage an organization’s records. They provide information to executive management and ensure that employees throughout the organization follow information and records management guidelines. They may direct the operations of on-site or off-site records facilities.
- Top executives devise strategies and policies to ensure that an organization meets its goals. They plan, direct, and coordinate operational activities of companies and organizations.
What Qualities Make a Successful Career in Management
Analytical skills. Administrative services managers must be able to review an organization’s procedures and find ways to improve efficiency. They are able to break down key performance metrics, tailor their training accordingly, and develop a group of highly proficient employees.
|Communication skills||Much of a managers’ time is spent working with other people. Therefore, communication is a key quality. They need to deliver the important messages from the top of the organization down to their subordinates in a highly effective manner.|
|Detail oriented||Managers must pay attention to details. This quality is necessary across a range of tasks, from ensuring that the organization complies with the HR employee handbook to managing the process of placing customer orders.|
|Leadership skills||In managing workers and coordinating administrative duties, managers must be able to motivate, train, and lead employees effectively. They also need to deal with issues that may arise during the everyday managing of their team. Managers need to know when to address personnel issues and when to escalate issues to HR.|
What Are the Typical Classes for an MBA in Management
- Accounting for the Digital Era. Explores the evolution of accounting information to the digital economy. It examines the migration to a real-time economy, the electronization of business, and the globalization of business. The student gains an awareness of the future of accounting, reporting, and auditing in the digital age. Technologies and the Sarbanes-Oxley Act provide an understanding of future methodologies that address compliance with the act.
- Entrepreneurship. In this capstone course we examine the idea of entrepreneurship, its symbiotic existence with much larger organizations, the origin of new (company) concepts, setting up the new legal entity, raising funding from outside investors or donors, developing and writing a comprehensive business plan, and pitching your concept to a panel of seasoned investors or potential donors. Cost control cost planning, and cost analysis as used in assisting the managerial function is studied.
- Leading Change. In this course, you will learn strategies and how to use practical tools to help you in leading your organization toward required change. You will also develop your potential to envision, lead and sustain organizational innovation and change. You will experience and work through a real-world change management situation using a simulation.
- Project Management. The course will cover tools and techniques necessary for successful management and completion of projects. Students will learn about project management concepts, challenges, needs identification, proposed solutions, risk assessment/management, project planning, scheduling, project control techniques, project team management, communication, change management responsibilities, documentation and web-based project management software.
- Sustainability Consulting Projects. This course imparts the knowledge and skills for managing sustainability projects including operations, organizational change, sustainability consulting and project management. In this course ‘Sustainability Consulting Project’ refers to a student team working with a small business, non-profit or local township, developing and delivering a customized, actionable plan with the goals of improving energy efficiency, reducing operating costs and helping the organization become more environmentally sustainable. Through collaboration with the client, opportunities are identified for both short-term and longer term. Deliverables of the consulting project consist of a practical, implementable and measurable plan and a presentation to the stakeholders; e.g., board members, leadership team, staff, and partners.
- Managerial Economics. Through lecture and online delivery, this course will introduce students to the tools and concepts of microeconomics to analyze decision problems within technology-driven firms through the coverage of microeconomic concepts relevant to managerial decision making. Letter grades only. Prerequisites: MBA student or department stamp.
- Organizational Strategy and Human Resource Management. After identifying characteristics common to technology-driven firms, the implications of living in, managing, and leading such an organization are explored. Covers skills such as leadership of project teams and negotiations. Letter grades only. Prerequisites: MBA student or department stamp.
Campus vs. Online MBA in Management Programs
Whether it’s a part-time Executive MBA, full-time online, or a traditional MBA program, B-Schools offer a variety of scheduling options for the working professional and the recent graduate. The online option is ideal for students that want a reputable program without geographic limitations. An MBA in Management allows students to enjoy program flexibility and thanks to the advances in technology, have enabled greater access to coursework all over the globe.
With improvements made to eLearning and Blackboard educational technology platforms, the collaboration between professors and students has drastically improved the delivery of MBA content. There are nearly 3 million students currently enrolled in full-time online degree programs compared to 6 million students taking at least one online course as part of their degree program. B-Schools that fall into the category of “traditional” usually provide students with the option of taking a few online courses during their MBA in Management program.
- The pros of online learning include lower overhead cost which includes online textbooks, dormitory expenses, and commuting cost. The convenience and flexibility of choosing your own times for learning, and the comfort of learning in your own home.
- The cons of online learning include limited social interaction, computer and software issues as well as cost of high-speed Internet, often requires the student be self-motivated and disciplined progress through the program
- The pros of campus-based learning include face-to-face and in-person interaction with instructors and fellow students, regularly scheduled class hours, use of the school’s library, athletic facilities, and laboratories.
- The cons of campus-based learning include the requirement to travel to classes, lack of time flexibility, and housing costs.
- One of the benefits of online learning as it relates to tuition cost is that a number of schools offer free textbooks online and include these texts in the price of tuition.
How Much is Tuition for MBA Management Programs
If you plan on attending B-School, it’s best to start thinking about fiscal responsibility. A prospective B-Student needs to weigh their options with regard to tuition rates. A highly reputable MBA program can pave the way for a great starting salary and on-campus recruitment from Fortune 500 companies. An online MBA program can provide the flexibility of completing a program while being employed in your respective career. With that being said, the lowest in-state tuition for on-campus MBA programs is $4,572.00 compared to the highest average in-state tuition is $162,991.00. There’s a significant tuition range for in-state programs. The average in-state tuition is $37,816.48 compared to an average out-of-state tuition of $50,791.98 for traditional MBA programs. If you have the option of attending a highly reputable in-state program, it may be worthwhile to save close to $12,000 in tuition costs. If geography is a limiting factor, then a well-respected online MBA program may be the best option for aspiring B-Students.
GMAT Scores for MBA Management Programs
It’s important to note that not all MBA programs require a GMAT Score for acceptance. Most do, however. There are other factors that go into an admissions decision: undergraduate GPA, professional experience, letters of reference, CV, and personal statement. The GMAT measures a prospective students’ ability to quantitatively analyze data. The average GMAT score for on-campus programs is 558 compared to an online GMAT of 553. If you have a specific program in mind, it’s best to boost your GMAT to improve your chances of acceptance. With a GMAT Score range of 337 to 737, there’s plenty of opportunity to attend a high-quality MBA in Managmeent program.
Campus GMAT Scores
Online GMAT Scores
Student / Faculty Ratio for MBA Management Programs
The best MBA Student/Faculty ratio is 0.05 compared to the worst on-campus Student/Faculty ratio of 97.80. The lower the ratio, the better it is for students. They get the personalized one-on-one attention from faculty mentors that have extensive experience in the industry. The Student/Faculty metric is a matter of personal preference and for those students who excel in lecture hall environments, you may not need the low Student/Faculty ratio. The best Student/Faculty ratio for online MBA programs is 0.06 compared to the worst online Student/Faculty ratio of 89.10. The combination of cutting edge eLearning platforms and innovative Blackboard courses make the online experience a rewarding one for prospective business students.
Campus Student/Faculty Ratio
Online Student/Faculty Ratio
Student Population for MBA Management Programs
Every B-School has a strategy behind their enrollment sizes. If a prospective B-Student is looking for networking opportunities, wants to attend job fairs, and plans on joining student organizations, they may want to attend a B-School with a larger enrollment size. For those interested in smaller classroom sizes and greater face-to-face collaboration with their professors, a manageable enrollment size is ideal. This is especially true for cohort MBA programs where the MBA class stays together for the entire program. The average MBA full-time enrollment for on-campus programs is 237 compared to the average online MBA program of 223. The average MBA part-time enrollment for on-campus is 305 students compared to the average part-time online enrollment of 437.
Student Population from the United States
The ever-changing global economy has produced countless managerial positions for those with international business experience. Just like a highly successful company, an MBA program should be a reflection of members of the global business community. The more students that come from all over the world, the better the program. A company that hires employees from other countries evolves into a well-rounded organization. The employee talent should represent the company’s most important asset: its customers. This is similar to an MBA program. The average percentage of students from the U.S. in traditional MBA programs is 73.62% compared to an average of 75.12% for online MBA programs. If you want to collaborate, network, and learn from global business leaders, you want to attend an institution that accepts a high number of international students.
Campus Global Enrollment
Online Global Enrollment
Faculty Information for MBA Management Programs
Highly competitive B-Schools recruit part-time and full-time professors that are both academics and industry influencers. Most business professors have experienced success in their corporate world and have written extensively in their respective field. The number of highly-qualified full-time faculty is directly related to the reputation of most elite MBA programs. The average number of full-time MBA faculty is 63 compared to 76 for part-time programs. The average number of professors with doctorate degrees is 84 for on-campus MBA programs compared to 84 doctorates for online MBA programs. You want to learn business from industry influencers and academics who are on the front lines of their respective industry. Looking at professor bios, their published work, and their professional history is a great way to determine if your MBA programs hires quality faculty.
Campus Faculty Numbers
Online Faculty Numbers
Best MBA Programs in Management – GMAT Scores, Online & Campus Rankings
- The number of on-campus MBA Management programs offered: 518
- The number of online MBA Management programs offered: 167
Since the MBA in Management concentration is considered a more general business degree, there’s plenty of programs to choose from. There are 518 on-campus traditional MBA in Management programs in the U.S. and 167 online programs. As mentioned previously, Management is the most popular MBA concentration delivering the most comprehensive business study for its students. The specialized courses are designed to create a well-rounded manager in both corporate, non-profit, and entrepreneural settings. There are plenty of career paths an aspiring B-Student can take if they choose the Managerial specialization. An MBA in Management is a highly respected credential in any field and the perfect gateway for leadership positions.
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Michael J. Marquis is a Portland, Maine-based freelance copywriter and MBA-graduate who loves writing about disruptive technology. When he’s not exploring interesting parts of the world, you can find him at either Gillette Stadium watching his beloved New England Patriots or at a local Portland coffee shop working on his next copywriting assignment. Feel free to find Mike on Twitter @MarquisInteract.