Masters in Business Management Online Degree Programs for 2022

Master's Degree in Business Management Career Options & Salary

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Are you considering a career in business management? If you have an interest in business and are looking to broaden your education or earn additional credentials, pursuing this degree is likely a good idea. Most online business management degrees of this level focus on the various methods utilized to enhance a company or organization’s efficiency. This may include tactics or techniques to boost productivity, drive sales up, or increase overall profitability. Business programs help students develop various leadership competencies and give them a competitive edge in an increasingly competitive job market. They are also designed to prepare graduate students who are already business professionals who have a background in business to expand their career paths and successfully control the operational areas of a company or organization in the real world. Prospective students considering traditional or online degrees can expect to take courses in management and leadership, organizational behavior, international business, and human resources while gaining strong analysis skills that will serve them well in business and management. MBA programs offered by an online school of business will offer concentrations in a variety of subjects, such as international business or business and management.

While professionals with a master’s degree in business management can often find full-time work in nearly any industry after gaining an advanced business education and management degree, they frequently have careers that deal heavily with sales, production, marketing or administration.

There are numerous business-related career opportunities to choose from. Many entry-level positions do not require a graduate degree in a management program, but only a bachelor's degree. While this level of education is not required in order to have a successful career in the field, it can be exceptionally helpful. As with all academic and career ventures, however, there are advantages and disadvantages to earning a master’s in business management from a business school or university.

PROS

There are many reasons to consider an online masters in business management program. One of the most alluring benefits is the potential for a higher salary. According to the Bureau of Labor Statistics, many occupations pay employees more with a graduate degree than they do employees without them, especially with a background in business. Additionally, business fields had some of the highest wage premiums for business students who graduate with a master's.

Earning a management master's also provides professionals with the ability to earn additional certifications, which can also be earned online in many cases, that can increase the number of employment opportunities available. While credentials vary based on fields of interest, it is common for graduates to pursue the following:

  • Chartered Financial Analyst (CFA)
  • Financial Risk Management (FRM)
  • American Production and Inventory Control Society (APICS) Certified in Production and Inventory Management (CPIM)
  • Confluence Certified Recruiter (CCR)

Higher levels of education, especially when combined with additional certifications, often make job advancement easier. In fact, some companies and organizations will not even consider professionals without a graduate degree for certain promotions.

Additionally, a master’s degree is often required in order to pursue a doctorate. Those who plan to become management analysts, professors, economists, or executives should plan to earn one.

CONS

While there are numerous reasons to consider pursuing an online master’s degree in business management, there are some drawbacks as well. One of the most important disadvantages to keep in mind is that earning this type of degree requires a significant time commitment, even with asynchronous online courses. It takes most full-time graduate students two years to complete the graduation requirements. Those who plan to take classes on a part-time basis, however, may need even longer.

Further, because some entry-level business positions are attainable without a graduate degree, it can be argued that a master’s is not worth the expense. An individual with an undergraduate degree may not earn as large a salary as someone with a graduate degree, but he or she will be receiving a consist salary instead of paying for two additional years of education.


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What are the Best Online Master of Science in Business Management Programs?


1

Harvard University

Harvard University is in Cambridge, Massachusetts and is one of the oldest institutions of higher education in the US. Founded in 1636, Harvard is one of the eight Ivy League universities within the United States. Harvard has an impressive and one of the highest retention rates of 97% and overall graduation rates of 98%. Some of the most popular programs at Harvard are architecture, biological sciences, business, education, health, public administration, and social sciences. The average salary according to Payscale for Harvard graduates is around $94,000 per year.

  • Net Price: $18,037
  • Retention Rate: 76%
  • Graduation Rate: 98%
  • Total Enrollment: 30,391
  • Undergrad Students: 8,527
  • Graduate Students: 21,864
  • Diplomas Awarded: 1,057
  • Grads Salary: $95,300
  • Student-to-faculty: 5:1
  • Harvard University
2

University of Florida

Ranked as the fifth largest school by enrollment in the nation, the University of Florida is located in the city of Gainesville, in north-central Florida. More than 52,000 students are enrolled at the university, with 35,247 students enrolled in undergraduate programs. Eighty-nine percent of undergraduates are full-time students, while the other 11% attend classes part-time. The other 13,000 are enrolled in graduate and doctoral programs. Because of the large population, class sizes are a bit larger than some schools, with a student to faculty ratio of 19:1.

  • Net Price: $10,075
  • Retention Rate: 97%
  • Graduation Rate: 89%
  • Total Enrollment: 53,372
  • Undergrad Students: 34,931
  • Graduate Students: 18,441
  • Diplomas Awarded: 750
  • Grads Salary: $74,100
  • Student-to-faculty: 17:1
  • University of Florida
3

University of Illinois at Urbana-Champaign

The University of Illinois main campus at Urbana-Champaign is a public land-grant university located in Champaign County, Illinois. The school was founded in 1867 and was recently ranked 14 by the U.S. News & World Report’s America’s Best Colleges. The institution pioneers innovative research and their 50,000+ students receive transformative learning experiences, both in and out of the classroom, to better prepare them to make a significant impact on society as a whole.

  • Net Price: $13,517
  • Retention Rate: 94%
  • Graduation Rate: 86%
  • Total Enrollment: 52,679
  • Undergrad Students: 33,683
  • Graduate Students: 18,996
  • Diplomas Awarded: 695
  • Grads Salary: $78,700
  • Student-to-faculty: 20:1
  • University of Illinois at Urbana-Champaign
4

Purdue University

Purdue is one of the top names in higher education, with their main campus located in West Lafayette, Indiana. The school is known as a pioneer in many ways, but their online platform, Purdue Global, is bringing their highly esteemed instruction to students far and wide. In-state tuition is $9,900 and out-of-state tuition is significantly higher at $28,700. It also has a high 82% graduation rate. Salaries are $77,200 on average for graduates and students can choose any degree from an associate's to doctoral level.

  • Net Price: $12,294
  • Retention Rate: 93%
  • Graduation Rate: 83%
  • Total Enrollment: 46,655
  • Undergrad Students: 35,706
  • Graduate Students: 10,949
  • Diplomas Awarded: 152
  • Grads Salary: $77,300
  • Student-to-faculty: 13:1
  • Purdue University
5

University of Maryland

The University of Maryland, located in College Park, MD is just outside of Washington, DC and is a renowned research university. With an enrollment of just over 41,000 and 14,000 faculty members, the university provides students with a vast array of academic and athletic opportunities. Of the 41,000 students, nearly 30,000 are enrolled in an undergraduate program, though the school offers degrees from the associate level up to the doctoral level.

  • Net Price: $17,210
  • Retention Rate: 55%
  • Graduation Rate: 18%
  • Total Enrollment: 58,526
  • Undergrad Students: 47,080
  • Graduate Students: 11,446
  • Diplomas Awarded: 392
  • Grads Salary: $78,200
  • Student-to-faculty: 19:1
  • University of Maryland
6

Stevens Institute of Technology

Stevens Institute of Technology is a private, not-for-profit university celebrating 150 years in education. The higher learning institution is home to over 3,400 undergraduates and a total of nearly 7,000 students and 300 faculty at all degree levels. At Stevens, students have the opportunity to work on teams of an interdisciplinary nature as a way to experience collaboration, innovation, project management, teamwork, passion, anticipation, and learning to work well with others. Students at Stevens will have access to entrepreneurship courses, as well as co-ops and internships. It is possible to complete bachelor’s degrees, master’s degrees, and PhDs.

  • Net Price: $40,303
  • Retention Rate: 93%
  • Graduation Rate: 88%
  • Total Enrollment: 7,257
  • Undergrad Students: 3,791
  • Graduate Students: 3,466
  • Diplomas Awarded: 142
  • Grads Salary: $89,800
  • Student-to-faculty: 12:1
  • Stevens Institute of Technology
7

Boston University

Boston University (BU) is one of the largest private, not-for-profit higher learning institutions in the US with more than 35,000 students and over 300 programs. Boston University is a public research university located in Boston, Massachusetts. It was established in 1839 by former Methodists with its first campus at Newbury, Vermont. As the name suggests, BU has been a part of the Christian education movement since its beginnings. this university has a retention rate of 94% and an overall graduation rate of 89%.

  • Net Price: $29,154
  • Retention Rate: 92%
  • Graduation Rate: 89%
  • Total Enrollment: 32,718
  • Undergrad Students: 16,872
  • Graduate Students: 15,846
  • Diplomas Awarded: 454
  • Grads Salary: $79,100
  • Student-to-faculty: 10:1
  • Boston University
8

The University of Texas at Dallas

The University of Texas' Dallas campus is a public university located on the northern outskirts of the large city. This campus is the academic home to around 25,500 undergraduate and graduate students each year who aim to earn certificates, bachelor's, master's, or professional practice- or research-focused degrees. Majors are grouped under eight separate schools: School of Arts and Humanities; Arts, technology, and Emerging Communication; Behavioral and Brain Sciences; Economic, Political and Policy Sciences; Engineering and Computer Science; Interdisciplinary Studies; Management; and Natural Sciences and Mathematics.

  • Net Price: $11,185
  • Retention Rate: 90%
  • Graduation Rate: 69%
  • Total Enrollment: 28,669
  • Undergrad Students: 21,187
  • Graduate Students: 7,482
  • Diplomas Awarded: 369
  • Grads Salary: $74,800
  • Student-to-faculty: 25:1
  • The University of Texas at Dallas
9

Michigan State University

Michigan State University is one of the top 50 public universities in the United States and is in the top 100 globally. MSU was founded as an agricultural college in 1855 and has evolved into a powerhouse educational institution that provides education in nearly every field, including nuclear physics, where it excels as the #1 graduate program. On campus, you'll find a diverse population of bright and engaged students, each pursuing their passion in one of the school's over 200 majors.

  • Net Price: $16,655
  • Retention Rate: 91%
  • Graduation Rate: 81%
  • Total Enrollment: 49,695
  • Undergrad Students: 38,491
  • Graduate Students: 11,204
  • Diplomas Awarded: 75
  • Grads Salary: $71,900
  • Student-to-faculty: 16:1
  • Michigan State University
10

Indiana University-Bloomington

Indiana University-Bloomington is a four-year public college located in Bloomington, Indiana. IU was founded in 1820. Its Bloomington campus is the flagship institution, leading seven other campuses, as well as two regional centers. The school offers a (bachelor’s and master’s) degree in ________, though in-state students will have a leg up on tuition, which is $10,900 while out-of-state tuition is $36,500. Still, the school has a 79% graduation rate and graduate’s salaries are $68,600 on average. The campus and town offer lots of cultural events and are also close to a national forest and state park.

  • Net Price: $13,191
  • Retention Rate: 91%
  • Graduation Rate: 80%
  • Total Enrollment: 43,064
  • Undergrad Students: 32,986
  • Graduate Students: 10,078
  • Diplomas Awarded: 158
  • Grads Salary: $69,300
  • Student-to-faculty: 16:1
  • Indiana University-Bloomington
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Overview of an online Master's in Business Management


What Business Management Online Master’s Degrees are Available?


While specific degree titles can vary from institution to institution, many colleges and universities offer a Master of Science/Master of Arts and/or an online MBA. These degrees help prepare graduates for employment in the field, but there are a few distinct differences you should be aware of before enrolling.

  • Master of Science (MSc) in Business Management
    This degree is ideal for individuals interested in exploring the scientific side of the business field. These programs are designed to focus primarily on business theory. Most MSc in business degrees take two years to complete.
  • Master of Arts (MA) in Business Management
    This degree is generally geared toward students without an undergraduate degree in business or a related field. Curriculum often includes various liberal arts courses, such as literature, history, and philosophy. Most MA in business degrees take two years to complete.
  • Master of Business Administration (MBA)
    This degree is intended for individuals interested in exploring broad but extremely applicable advanced topics in business. These programs usually help students develop the leadership, communication, decision-making, and organization skills required to be successful in upper-level management positions. While most MBAs are completed in two years, there are some accelerated degree options available.
  • Master in Management (MIM)
    A Master in Management (MIM) is usually designed specifically for individuals interested in entering managerial positions in the business world. Students often gain a more in-depth understanding on ethical decision making, business law, global business, workplace security, corporate crime, business culture, human resource management, and marketing. These programs can take less time to complete, some requiring only a single year’s worth of coursework.

Online Admission Requirements


In most cases, colleges and universities have established requirements that graduate degree candidates must complete before enrolling into the college of business. While these vary from school to school, they often include some variation of the following:

  • Bachelor’s degree in business or a related field
  • Minimum overall academic grade point average (usually 3.0 or higher)
  • Two to three years of professional experience (depending on degree type)
  • Passing GMAT or GRE scores
  • Professional/academic resume
  • Letters of recommendation
  • Personal statement

Some college of business institutions have fewer admission requirements than others. They may also offer exemptions from certain expectations. It is worth noting that many unaccredited colleges and universities have less rigorous application processes. These schools may not, however, provide you with the education or credentials you need to be successful in the field.

How long does it take to earn a Business Masters Online?


In most cases, it takes approximately two years to earn an online management degree. Programs typically consist of 60 credit hours of coursework. The two-year projection does assume, however, that the student is enrolled full-time. People who opt to take classes on a part-time basis due to personal or professional responsibilities will likely require additional time. For some part-time students, earning a graduate level degree can take between three and five years.

It is worth noting that some colleges and universities offer accelerated graduate degrees in business. These can take full-time students as little as a single year to complete.

Potential Careers in Business Management with a Masters


There are numerous employment opportunities available to individuals who have earned a graduate degree in business. Some popular options include financial analyst, brand manager, general sales manager, production manager, and marketing manager.

  • Financial Analyst
    Financial analysts are responsible for helping a company or organization make smart investment decisions. They frequently study marketplace trends, as well as demographics and microeconomics, in order to make more accurate financial predictions. They may also assist with issuing bonds and splitting bonds. According to PayScale,
    the average salary for a financial analyst is: $61,400.
  • Brand Manager
    Brand managers usually oversee one or more branded trademarks for a business or corporation. They are responsible for controlling and managing how their assigned brand(s) is presented to the public. These professionals are expected to find ways to incite positive responses to the brand from consumers. According to PayScale,
    the average salary for a brand manager is: $71,000.
  • General Sales Manager
    General sales managers are in charge of a company’s sales department. They are often responsible for hiring, training, and managing sales staff members, as well as compiling and organizing sales data to present to upper management. These professionals must also help ensure that the company is bringing in an adequate amount of revenue. According to PayScale,
    the average salary for a general sales manager is: $65,000.
  • Manufacturing Production Manager
    Manufacturing production managers are responsible for overseeing operations at a company or corporation’s manufacturing plant. They are in charge of scheduling and managing project workloads, as well as supervising and evaluating employees. These professionals must also maintain safety regulations and ensure safety protocols are being followed. According to PayScale,
    the average salary for a manufacturing production manager is: $72,200.
  • Marketing Manager
    Marketing managers oversee the creation of advertising and merchandising sales campaigns for products produced and sold by a company. They may be in charge of a single product, a product line, several products, or all products for a company. These professionals usually manage the work done by a variety of creative, sales, and research teams. According to PayScale,
    the average salary for a marketing manager is: $65,900.

Options to Advance


After earning a graduate degree in business, some may choose to pursue either a Doctor of Business Administration (DBA) or Doctor of Philosophy (PhD) in Business Administration. These programs prepare graduates for senior management and consulting positions, especially in government, education, private, and non-profit sectors.

In most cases, the opportunity to advance comes from within the company or organization itself. Managerial professionals often covet promotions into executive positions, but job titles and command structures vary significantly from industry to industry. It is worth noting, however, that advancement opportunities are more readily available to professionals employed by large corporations.

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