Today’s Master of Business Administration (MBA) programs offer many choices and wide-ranging areas of focus. An MBA in Management is one option. What sets this specialized degree apart?
This versatile degree can prepare graduates for leadership positions in a range of industries. Financial services, manufacturing, healthcare, telecommunications, nonprofits and government are just a few. Additionally, management occupations are among the highest-paying jobs, based on data reported by the U.S. Bureau of Labor Statistics (BLS).
La Salle University offers an online MBA program with a Management Specialization that integrates theoretical knowledge with practical, real-world applications to give students the tools they need to succeed in management roles. With the online format, this program accommodates the schedules of working professionals. Students can complete coursework in just 14 months.
What Is the Difference Between a General MBA and an MBA in Management?
A general MBA and an MBA with a specialization in management share common coursework that develops expertise in business fundamentals. At La Salle, for example, both programs cover managerial accounting, business analytics and marketing management.
Key differences in La Salle’s management MBA include a specialized focus on human resource management, corporate decision-making and leadership. For example, specialization courses cover:
- Contemporary topics in management and leadership, such as workplace rights.
- Human resource management, including talent recruitment and retention.
- Causes of “irrational decisions” in the workplace, what they can cost a business, and how to address them.
What Is the Job Outlook for MBA in Management Grads?
An MBA with a management focus may give graduates a competitive advantage in the job market:
- A 2017 Graduate Management Admission Council (GMAC) survey found that “specialized MBA graduates tend to receive higher starting salaries compared to traditional MBA graduates.”
- PayScale ranks different MBA specializations to help prospective students predict earning potential. Average salaries for MBA graduates with a management focus are among the highest.
- Data reported by the BLS also points to a strong job outlook for MBA in management graduates. According to the BLS, the median annual wage for management occupations was $100,790 in May 2016 — the highest wage of major occupational groups.
A look at several management career options follows, with data on earnings from the BLS.
Compensation and Benefits Managers: These management professionals work in all industries, overseeing employee pay and benefits programs such as health insurance. The median annual wage for this occupation is $116,240.
Medical and Health Service Managers: Healthcare administrators work in a variety of settings, such as hospitals, nursing facilities and home healthcare organizations. Although the median annual wage for this occupation is $96,540, managers working in hospitals earn more ($104,340).
Natural Sciences Managers: Those with a science background and an advanced degree such as a management MBA can go on to manage activities related to research and development. The median annual wage in this occupation is $119,850. Those working in state government positions earn $81,840, compared to $162,530 for those managing companies in the private sector.
Interested in executive-level positions? An MBA in management may make the difference. La Salle’s coursework, for example, helps students hone the leadership, decision-making and management skills required to lead an organization. At $181,210, the annual median wage for these executive positions is considerably higher than that for management occupations in general.
An MBA with a management specialization can help professionals advance their careers across a range of industries. With enhanced managerial and leadership skills, graduates of this specialized MBA program can take advantage of a growing job market and overall higher-than-average salaries.
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