A management MBA can give professionals the tools to lead a company or organization to success. In every company and industry, qualified managers can be the difference between success and failure. Although jobs may be scarcer than entry-level and middle positions, managers can see the difference they make in their company more easily.
Successful management students usually have excellent interpersonal skills. They are able to communicate well with a variety of people. Management positions need to be able to focus and motivate people with different goals and situations. Because of the boundaries between management and employees, poor management can foster an unhealthy company culture. It’s critical that management be able to connect with workers and bridge the gap. A sense of calm and patience is helpful. Delegating tasks can be difficult in an emergency if people are nervous or panicking. A leader can keep employees attentive to their duties and maintain a sense of control over the situation. Management professionals should expect frequent travel in some industries. This can make it difficult on some professionals and their families.
A management MBA can come with different specializations for specific aspects of management or particular industries. If a professional is unsure what kind of MBA to choose, a general management MBA is a solid option. Some management specializations at the MBA level include:
- General management
- Operations management
- Non-profit management
- Project management
- Sales management
Management programs may vary in their admissions process, but the curriculum is common among MBA institutions. Professionals should be able to locate a program in their region easily. Accredited programs are strongly recommended, as most companies will not accept an unaccredited MBA for a top position.
Curriculum in most management programs is usually generalized compared to other MBA specializations. Common curriculum subjects include:
- Business law
- Personnel management
Because of the generalized nature of the MBA, management degree holders are able to pursue positions in any field after graduation. Some companies may ask for specific experience in their industry. Management degree holders who have a specific field they wish to work in should look at internships or work positions during their MBA.
Management positions at the top of companies tend to be very well-compensated. In addition to yearly salary, most large companies offer health insurance, retirement contributions, time off, and various other perks. Stock options and performance bonuses were also common. Although job responsibilities and earnings varied widely depending upon company size, most management positions received around $100,000 per year in average salary. Top private sector management positions earned considerably more in salary and perks than government employees.
According to the Bureau of Labor Statistics (BLS), general and operations managers earned an average salary of $91,570 in May of 2008. For the top management position of chief executive, the average salary was $158,560 in the same time period. However, the annual salaries for some chief executives of global corporations and Fortune 500 companies can easily reach into the tens of millions.