Which Management Career Often Requires a Master’s Degree?
Regardless of your motivation to pursue a management career, it pays to know which fields demand a master’s degree. Knowing where and when a master’s degree is necessary can help you make the most informed decision regarding your education and career path.
Why Pursue a Master’s Degree?
Over the years, master’s degrees have become commonplace for many business and management-related fields. With a master’s degree, you add value to your career qualifications that can result in an increase in salary, improvement in job mobility, and skillset developments.
Where a Master’s Degree is Most Commonly Used for Management
- Business Administration: Many management-level career paths within the business administration realm require a master’s degree.
- Marketing: Increasingly, marketers are obtaining a Master of Business Administration with a Marketing specialization to advance their career.
- Strategy: To become a manager in the strategic field, a master’s degree is often a requirement.
- Finance: High-level positions such as financial analyst or financial manager typically require a master’s degree.
Where a Master’s Degree May Not Be Necessary for Management
- Operations – An undergraduate degree in operations management may be sufficient for an operations management role.
- IT Management – An undergraduate degree in Information Systems or related field may be enough to obtain an IT management role.
- Project Management: Depending on the type of organization and the industry, some organizations may consider related work experience as a substitute to a graduate degree.
When Deciding if a Master’s Degree is Necessary for Your Career
It’s important to do your research before deciding if amaster’s degree is necessary for your career. It is always wise to consult with industry professionals as it relates to current standards and job requirements. Additionally, make sure you understand any expected requirements for job postings before applying for a management position.
In summary, having a master’s degree can open the door to a variety of management career opportunities. But make sure to look at the specific industry and job role when determining if a master’s degree is required in order to progress your career.