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Online MBAs in management develop crucial administrative skills that businesses rely on to become successful. These management tools include human resources, finance, and the increasingly critical field of information.
Management MBAs focus essential business operations topics through a lens of optimizing organizational resources. These programs may offer coursework in leadership; negotiations; and diversity, inclusion, and social responsibility.
According to November 2022 Payscale data, professionals with MBAs in business management earn average base salaries of $88,000 per year. Performance bonuses and other forms of additional compensation can elevate that figure.
This guide to the best online MBAs in management explores several defining aspects of the management concentration. The page explores curricula, reviews important program factors, and profiles financing options for scholarship-seekers.
What Is an MBA in Management?
Designed for aspiring managers, the MBA in management cultivates the advanced supervision and decision-making skills needed to oversee organizational planning, staffing, and operations.
Graduates work in various industries, including healthcare, retail, and information technology. Common job titles for MBA graduates include project manager, general manager, and administrative services manager. With requisite experience and talent, top MBAs may qualify for executive positions such as vice president, chief executive officer, or president.
The U.S. Bureau of Labor Statistics (BLS) projects 8% growth in management occupations between 2021 and 2031. An online management MBA can help graduates secure positions in this growing field.
Why Should You Get an Online MBA in Management?
Top online MBA degrees in management benefit graduates by building advanced skills. Management MBA coursework typically explores applied business topics like marketing analysis, strategic planning, and financial decision-making.
The best management MBA programs often engage enrollees in onsite capstone research projects or internships, allowing learners to apply their skills in real-world scenarios. MBA programs frequently attract working professionals seeking career advancement because these degrees can facilitate mentorship and job networking.
Many working professionals also pursue an MBA to increase their earning potential. Business-related bachelor's degrees meet entry-level education requirements for some management positions, but high-paying executive positions may require advanced degrees such as an MBA. Salaries vary based on industry, company, and position. The median annual salary for managers was $102,450 as of 2021, according to the BLS.
What Can You Do With an MBA in Management?
Chief Executive Officer
As directors of entire organizations, CEOs make major decisions, generate strategic plans, and oversee operations. Because they oversee management staff and consult with various departments, CEOs need strong collaboration and communication skills. CEOs make an average salary of $156,160 as of November 2022, according to Payscale.
Vice President, Operations
VPs of operations work closely with company presidents to increase profits. They find ways to cut costs, increase efficiency, adjust pricing, and create new revenue streams. These professionals supervise other managerial staff, address operations issues, monitor competition, and ensure compliance. Strong communication, leadership, and management skills are essential for success in this role. According to Payscale, vice presidents earn an average annual salary of $133,460 as of November 2022.
Divisional Vice President, General Manager
These professionals typically improve employee safety, efficiency, and achievement. Divisional VPs and general managers set division goals, supervise subordinate managers and staff, represent the company, and report to boards of directors regarding division performance. Marketing program development, infrastructure evaluation, and strategy development also fall under their purview. Divisional vice presidents and general managers make an average annual salary of $143,780 as of November 2022, according to Payscale.
Administrative Services Manager
Sometimes called business office managers, facility managers, or records and information managers, administrative services managers supervise services such as facility maintenance, office maintenance, and recordkeeping. Skills in organization, planning, and observation help these managers set departmental goals, monitor facility operations and regulatory compliance, supervise personnel, and oversee systems and equipment maintenance. In 2021, these professionals earned a median annual salary of $99,290, according to the BLS.
Tasked with overseeing project budgeting, planning, and execution, these managers require excellent financial and personnel management skills. Specific tasks and duties depend on the project at hand, but project managers usually meet with clients, oversee resource distribution, and address issues as they arise. According to Payscale, project managers make an average annual salary of $76,460 as of November 2022.
Online MBA in Management Curriculum
Online MBA classes vary by program. However, many degrees offer foundational management coursework, including strategic planning, business development, financial reporting, and leadership. Below, we explore common courses in online MBA management programs.
Business Development: Learners study how to use networking to identify, obtain, and retain new clients. Degree-seekers also learn sales strategy, goal-setting, and technologies used in developing sales models. People Management: This course cultivates skills in recruitment, staffing, and supervision. Students learn to lead, evaluate, and incentivize performance. Courses also cover ethics, conflict resolution, and management of diverse personnel. Management Ethics: Enrollees learn to analyze moral and ethical dilemmas in various settings and cultures. Courses typically use real-life examples to help students understand various ethical challenges managers may face.
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How to Choose the Right Online MBA in Management Program
Top online MBA programs in management differ in structure and cost. Prospective students should compare programs thoroughly to find a degree conducive to their career goals.
Learners interested in graduate-level studies should research various management master's programs. These degrees focus on personnel management, typically do not require relevant work experience, and usually take about half the time and money of a traditional MBA. Many management master's programs offer curriculum concentrations in specific management areas. Prospective students should identify programs offering coursework relevant to their career goals.
Experienced business professionals can pursue master's degrees in project management, which focus on complex project management and problem-solving. These workers also often enroll in traditional or executive MBA programs designed for aspiring executives.
To accommodate schedules for students who work full time, MBA degrees may offer part-time or asynchronous online delivery formats. Some learners may prefer accelerated programs, which offer year-round academic terms and intensive courses so enrollees can complete their learning faster than average.
Top MBA programs often include components like internships or capstone projects. Learners should ensure they can meet onsite requirements for these experiential learning opportunities before applying.
The best online MBA programs are institutionally accredited. Some also boast programmatic accreditation from organizations like the Accreditation Council for Business Schools and Programs, the AACSB International, or the International Accreditation Council for Business Education.
Scholarships for Management MBA Programs
Learners earning online MBAs in management may qualify for many different scholarship opportunities, depending on their personal and academic profiles. The following list offers a snapshot of several available awards. It emphasizes scholarship programs specifically for MBA enrollees.
National Black MBA Association Scholarships
- Who Can Apply: The National Black MBA Association offers financing opportunities to Black students enrolled in graduate business education. Scholarship programs operate through partnerships with both corporate and collegiate participants.
- Amount: Varies
Goldman Sachs MBA Fellowships
- Who Can Apply: Goldman Sachs is a global investment banking and wealth management leader. The institution offers MBA fellowship programs to first-year MBA enrollees, learners pursuing summer associateships at Goldman Sachs, and business students from historically underrepresented communities.
- Amount: $35,000-$40,000, plus summer associate salary or Goldman Sachs signing bonus
HPRA MBA Scholarship Program
- Who Can Apply: The Hispanic Public Relations Association offers financing opportunities to Latino/a learners. Applicants must be enrolled in an accredited MBA program and need a minimum 3.0 cumulative GPA. They should demonstrate an interest in communications and public relations careers.
- Amount: $25,000
Government Finance Officers Association Scholarships
- Who Can Apply: MBA students planning careers in the public sector can apply to the 11 scholarship programs GFOA offers. Students in master of public administration programs are also eligible.
- Amount: $5,000-$20,000
Financial Women of San Francisco Scholarship Fund
- Who Can Apply: Established in 1985, FWSF provides financial assistance to female students enrolled in programs in the San Francisco, California area. Eligible study areas include graduate programs in accounting, finance, and financial services. Scholarship winners also qualify for career mentorship opportunities with leading FWSF members.
- Amount: $15,000
Society for Human Resource Management Foundation Graduate Scholarships
- Who Can Apply: The Society for Human Resource Management offers scholarship programs to members enrolled in degree-granting programs with an HR focus. Candidates must display academic achievement and have a minimum of one full semester remaining before graduation. Applicants who have yet to begin their programs must plan to commence studies within six months.
- Amount: $5,000
Forté MBA Fellowships
- Who Can Apply: The Forté MBA Fellowships program offers financial awards to students who have applied to a participating school. Forté prioritizes diversity and evaluates applicants based on their dedication to the cause of promoting the success of women in the business world.
- Amount: Varies
- Who Can Apply: Orbis offers scholarships to students starting an MBA program. This funding opportunity has flexible eligibility guidelines and is open to learners with an offer of admission to an accredited MBA program and an interest in investment management.
- Amount: $15,000
Common Questions About MBA Programs in Management
Is an MBA worth it for management?
Online MBAs in management focus on versatile skills that businesses value. Management MBAs create a broad knowledge base that can transfer well between industries. Graduates can qualify for advanced career opportunities and increase their earning potential.
What do you learn in MBA in management programs?
MBAs in management combine instruction in core business topics with specialized coursework in management-related areas. Examples of specialized topics include leadership, strategy, business planning and continuity, and organizational behavior.
What does an MBA really teach you?
In general, MBA programs focus on the quantitative and qualitative aspects of managing successful business operations. Coursework typically covers accounting, economics, finance, strategic thinking, business analysis, ethics, and resource management, among other topics.
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