Comparing Business Graduate Degrees
June 11, 2020 1:41pm
Choosing what type of master’s degree in management or leadership can be overwhelming for someone considering an administrative career. There are several to choose from, including the professional master’s in business administration (PMBA), master’s in management, and masters in leadership degrees. And while the programs have some similarities and can lead to comparable careers, there are differences and benefits in them that make them a better fit for certain students.
Who should enroll in each program?
PMBA:
Most learners enrolling in Professional MBA degree programs have been out of college for a few years and could possibly have a little, but not a lot, of leadership experience. PMBA programs are great for working professionals who need to acquire new skills in order to expand their career options. And because many PMBA learners are already working, the programs typically offer more flexibility in order to accommodate the busy schedules of the students, especially online PMBA programs.
Leadership:
Leadership degree programs are designed to prepare learners for leadership roles in virtually any industry. This degree might be a great fit for those passionate about supporting and motivating their team. Students come from a variety of career backgrounds and can range from having no leadership or management experience to maybe a couple of years.
Management:
Management degree programs are designed for learners who have almost no management experience and are looking for a degree that will help kick-start their careers. Most enrolled learners have just completed their undergraduate degree and are not required to have professional experience for admittance. These programs offer foundational knowledge and skills for those looking at entry-level management positions. The degree will also make it possible for higher-level management jobs down the line.
What is the curriculum focus?
PMBA:
Course requirements and prerequisites for PMBA programs will depend on each school. Since many PMBA learners are already employed and have some management experience, there are generally many hands-on learning opportunities embedded in the courses. Those who decide to pursue their PMBA can count on about 10 or 11 core course requirements, encompassing some of the following common subject matter:
• Business law and ethics
• Global strategies
• Ethics
• Organizational dynamics
• Financial management
• Marketing strategies
Leadership:
Since most leadership programs aim to prepare learners for leadership roles in a wide range of professional settings, course material can cover a broad variety of topics such as:
• Ethical leadership
• Organizational leadership
• Global leadership
• Organizational behavior
• Leadership styles
Management:
Management programs are generally theoretically focused and involve courses that encourage critical thinking. Learners can expect to explore subject matter including:
• Financial management
• Project management
• Ethics
• Conflict resolution
• Economics
• Organizational behavior
What are the benefits?
PMBA:
The benefits can be seen as early as the enrollment process in a PMBA program. Often times the GMAT requirement is waived since a professional background is often times an admissions requirement. Also, learners are able to apply the knowledge they gain in the classroom immediately to their workplace. Additionally, they can bring their past and current professional experience to the classroom and apply them to coursework and class discussions.
Many PMBA programs can be completed online, giving learners the flexibility they need to continue working, fulfilling personal obligations, and working toward their degree. Many of these program can be completed in under two years.
Earning a PMBA will not only promote personal professional development, it will lead to career progression either upon completion or later on. Earning a PMBA also comes with financial payoffs. According to a Payscale.com survey, the average median salary for PMBA graduates is $87k. PMBA holders can explore careers including:
• HR manager
• Project manager
• Marketing director
• Health services manager
Management:
Management programs are hugely beneficial to anyone wanting a management career even though they have had no previous management experience. This degree will make it possible for someone to enter a lower-level management role and explore promotions later. Similar to PMBA degree programs, many colleges also waive the GMAT requirement for management programs. Students can usually finish their management degree in about a year and a half.
Careers in management run the gamut in both the public and private sectors, so graduates have many career options upon graduation. And those options also yield greater salary potential. According to PayScale, the average median salary for management roles is $76k, and data from the U.S. Bureau of Labor Statistics shows a projected 8% job growth in management positions through 2028! Graduates can position themselves for versatile occupations, including:
• Production supervisor
• HR manager
• Business development manager
• Public relations director
Leadership
Earning a leadership degree proves someone has dedicated the time to develop the skills necessary to become a more thoughtful, skillful leader no matter the career field. Possessing a leadership degree will position someone for wider career potential and growth. Some colleges also waive the GMAT requirement for these programs and similar to PMBA and management programs, it’s possible for learners to complete them in under two years.
For students who are already employed full time, there are numerous online leadership programs that will allow them to work toward their degree and balance job obligations.
Since many leadership programs cover wide-ranging subject matter, there are a multitude of career fields to explore. And possessing the credentials will allow for more earning potential. Similar to what someone with a management degree would experience, the average median salary for leadership roles is about $73K, according to PayScale. And these jobs are also expected to see about 8% growth through 2028. Some career options for those who earn their master’s in leadership degree include:
• School principal
• Operations manager
• HR manager
• Sales manager