Is a Management Degree Right for Me?

Although some components of leadership skills are viewed as natural traits, many good management practices and theories can be taught.

If you're looking to enter management as part of your career path, having a management major as your primary study or as a second major might be the right degree for you to pursue.

However, there are multiple factors you need to consider to know if a management degree is right for your goals.

What Is a Management Degree?

A management degree is a business degree that equips learners with information on the theories of business leadership. This degree program teaches students what they need to know to lead teams or entire business units within larger companies, or even start their own business.

Management degrees are traditionally bachelor's degrees in business administration, although there are Master of Business Administration (MBA) degree programs in management.

What Does a Management Major Study?

Management majors cover many hard and soft skills associated with general management, with the opportunity to include specializations for more specific management roles.

Management degrees are often a combination of leadership skills and skills associated with a specialization in a certain business unit. While a business degree can teach you the fundamentals of different business units, an added management concentration will teach you how to apply those basics in a leadership capacity.

Most management degree programs will include coursework that studies the fundamentals of business administration as well as topics like:

• critical thinking and real-time problem-solving
• budget decisions and financial management
• communication skills
• organizational behavior and organizational skills
• strategic plannings
• business law
• supply chain management
• conducting market research
• data-driven decision-making
• project management
• healthcare management

Why You Should Consider a Degree in Management

Many factors can make a management degree the best choice for your career goals. For business majors looking to get into management positions, this degree is a great place to start.

If you're still undecided about this degree program, consider factors such as the following.

Better Understanding of Business Operations

Although a general business administration degree will be available from nearly every school, a management-focused degree program goes deeper into connections with front-line workers. This focus allows you to better understand how businesses work and will give you an advantage when it comes to serving as a liaison between executives and workers.

Multiple Specialization Opportunities

Managers specialize in certain aspects of a business such as accounting or marketing. Because of these specialization options, you'll be able to advance your career in the type of work you want to do. Some businesses might be more inclined to hire someone with certain specializations because of the opportunities to promote and grow a manager who has hands-on experience in their company.

More Advanced Career Opportunities

Many career paths in the business world stall out due to qualifications, but a management degree can help teach a variety of skills that will suit you well as you look to advance your career as a team or business unit leader.

Principles of Entrepreneurship

Although there are many management opportunities in larger companies, not everyone wants to work for someone else. The skills associated with a business management degree can be used to start and run a small business. Coursework around budgets and financial analysis can help prepare entrepreneurs to run their own businesses.

Positive Job Outlook

Management positions have differing growth rates for individual types of management according to the U.S. Bureau of Labor Statistics (BLS). However, nearly every type of managerial role is expected to grow at or above the national average for all occupations. Entering into management can help give you a more secure career outlook than some other positions, even within a single company.

Learn Theories of Management Soft Skills

Many people use phrases like ''born leaders'' when talking about some of history's most important people. However, many of the soft skills that we consider valuable parts of management can be learned and developed through proper coursework. A management program will teach communication, critical thinking, and problem-solving skills which can benefit future managers.

Increase Your Hiring Chances

Many companies like to promote from within, and having a new hire who has the skills required to lead in the future can increase your employability to some recruiters. You can further increase employability by choosing in-demand management specializations that will put you in a better position to succeed after graduation.

Network With Other Future Leaders

Management programs, and business schools in general, are full of future leaders and business professionals. As you attend classes and interact with classmates, you'll be building connections with people who will be assuming leadership positions at a variety of companies. Whether you use your network for future employment or in negotiations, having people you know and like in other companies can be valuable.

Higher Potential Average Salary

Managers usually are paid more than their employees because of increased responsibilities and duties. Pay rates often increase as you continue to advance to higher management positions, especially in more specialized roles like a marketing or human resources manager role.

Job Opportunities for Management Degree Majors

Before you become a manager, you might wonder what career options come for graduates of management programs.

Some common job titles for management degree holders include:

• human resources manager
• sales manager
• operations manager
• marketing manager
• financial manager
• operations research manager
• accounting manager
• information systems manager
• construction manager

Management Degree: Questions To Ask Yourself

Although being in management might seem like an ideal career, there are multiple reasons that a degree in management might not be right for you.

Before making your decision, ask yourself questions about management-focused business programs, such as:

• Do I want to lead teams and business units?
• Do I have good communication skills, written and verbal?
• Do I like reading business publications to keep up to date on best management practices?
• Do I want to dictate policies that impact the work environment for my team?
• Do I see myself taking on additional responsibilities and tasks within my team and company?