Are you stuck in a rut? Are you looking to progress further in your corporate career? Do you hope to one day work in a managerial position, whether in your current company or in a whole new field? If so, studying for a master’s degree in Business Management could be the perfect next step for you. It is a great way to boost your qualifications, knowledge, and skills to prepare you for a wide range of professional careers in management. In this post, we look at the subject in more detail, as well as the benefits of studying the program, to help you decide if it is the right path for you.
What is business management?
Business management refers to how a company or business operates and functions. This could be anything from a small family business or a large multinational corporation, and in any industry. As such, it is a subject with a wide range of applications and hence is suitable for many different students. Most courses accept both students with previous work experience and fresh graduates, plus those with relevant undergraduate qualifications as well as those who wish to convert from a different subject area.
What will I study on an MSc in Business Management?
The exact curriculum that you will follow on your program will depend on the institution you attend.
However, many common threads run through all business management programs. Most courses are broken down into modules, with a core series that are compulsory plus a section of electives that you can choose between. This gives you some flexibility to tailor your degree to your interests and career goals.
Some of the modules you can expect to cover include:
- Organizational Behavior
- Operations Management
- Global Business
- Innovation Management
- Business Economics
- Corporate Finance
- Strategic Management
- Risk Management
- Business Analytics
- Project Management
- Family Business
- Brand Management
- Salesforce Management
- Leading, Managing and Developing People
Most business management programs involve a mixture of traditional classroom learning and lively seminars, with both group work and independent projects to complete. Many courses also include participating in work experience or a consultancy project with an external company, giving you a chance to put what you have learned into practice by working on a real-world issue. You will likely also be required to write a dissertation on a relevant topic of your choice.
If you choose to study on a full-time basis, the course will take as little as one year. Alternatively, you can enroll on a part-time course instead and spread it out over two years. These days you also have the option to complete your business degree online, which makes going back to college even more convenient. These courses enable you to study from anywhere in the world, at whatever time suits you, and at a pace that fits around your lifestyle. This means that you can fit your studies around a part-time or even a full-time job, and any existing family commitments you may have.
What are the benefits of studying for an MSc in Business Management?
Studying for an MSc in Business Management can bring you a whole ream of benefits. Firstly, it demonstrates to employers that you are dedicated to your development and your career and gives you an official, high-level qualification. It permits you to take a deep dive into a subject that interests you, working alongside like-minded peers and great faculty who are experts in their field. This is fantastic for both building your business acumen and also your professional (and social) network.
Like all postgraduate business degrees, taking an MSc in Business Management will also boost a wide variety of your key ‘soft’ skills. These skills include, but are in no means limited to: communication, teamwork, problem-solving, leadership, decision making, critical thinking, presentation skills, technical skills, time management, organization, and confidence.
When it comes to subject-specific skills, a business management degree is beneficial in that it covers a fairly wide variety of business topics. This means that you get a great introduction to many relevant aspects of management, which can be invaluable in your career and give you a definite competitive edge no matter what job you are hoping to land after graduating.
In recognition of your improved skills and specialist knowledge, you can also enjoy a corresponding increase in your employability, job stability, and financial security. In fact, having a Master’s related to management has been found to bring, on average, a 24% salary bump. Holding a postgraduate degree has even been linked to higher levels of health and wellbeing, so there are even more reasons to go back to college than you might have thought!
What type of career does an MSc in Business Management lead to?
Due to the range of topics covered, an MSc in Business Management can prepare you for many different job roles in almost any industry. From small businesses to international brands, every company needs managerial expertise. You could work within many different departments or areas, such as human resources, operations, accounting, marketing, or strategic management. You could even start your own business, become a consultant, or use your new qualification as a springboard to go and work overseas. The choice of what to do with your new degree is yours!
One useful piece of advice is to take advantage of ever networking opportunity that your course provides, whether that is in person at a conference or an online forum, and take every chance to make yourself heard. Your postgraduate studies are a great time to meet people and connect with potential employers, plus you will have access to many useful college careers resources, so be sure to make the most of them. Attend job fairs and guest lectures, meet with careers advisors and your personal tutor, and take part in relevant student clubs and extracurricular activities. Most importantly, dedicate yourself fully to your studies – you’ll only truly enjoy all of these advantages and opportunities if you graduate successfully!