Erika Lasrado
Written By - Erika Lasrado

Check MarkEdited By Darryl S.

Check MarkReview & Contribution By Dr. Jay Connell

Many students and professionals reach a point where they contemplate pursuing growth in a leadership position. They question their readiness to progress to a well-compensated management role. An online master’s in management can lead to an elite position equipped with expertise in leadership, human resources, project management, and healthcare administration. While graduate degrees come with a hefty price tag, this guide focuses on identifying an affordable Masters in Management degree program that provides top-notch preparation for the competitive business landscape. The best online MIM programs have been ranked based on their cost-effectiveness and academic excellence, and a list of specialization options has been compiled.

Online Masters in Management Programs

Table Of Contents

Featured Online Programs

Southern New Hampshire University

PROGRAM: Online MS in Management

Southern New Hampshire University is a private, nonprofit, accredited institution with more than 3,000 on-campus students and over 60,000 online students, making us one of the fastest-growing universities in the country. Founded in 1932, we’ve been relentlessly reinventing higher education ever since and have gained national recognition for our dedication to helping students transform their lives and the lives of those around them.

We’re proud to provide affordable, accessible education that students can pursue on our 300-acre campus in Manchester, NH, over our innovative online platform or at our regional centers in Manchester, Nashua, Portsmouth and Salem, NH, and Brunswick, ME.

SNHU has earned the GetEducated.com Best Buy and Best of Business – Best Online Degree awards and is consistently ranked as a top Military Friendly® School by G.I Jobs®.

The Best Online Master’s in Management Programs

In assessing the rankings of Master’s in Management programs, a comprehensive methodology was employed that considered various factors, including curriculum quality, knowledge acquisition, cost, and alignment with specialized areas. Faculty expertise, institutional resources, research facilities, career prospects, communication, networking opportunities, program structure, and graduation rate were also considered. The OMC team conducted extensive research, analysis, and surveys to ensure accuracy and objectivity in the evaluation process. Here are the best master’s in management programs:

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College Name & AddressTuitionGraduation Rate
#1
University of Florida
Tigert Hall, Gainesville, Florida 32611
$10,77088%
#2
Harvard University
Massachusetts Hall, Cambridge, Massachusetts 02138
$49,44897%
#3
Pepperdine University
24255 Pacific Coast Hwy, Malibu, California 90263
$36,20086%
#4
Michigan State University
East Lansing, Michigan 48824
$18,85881%
#5
George Washington University
1918 F Street, NW, Washington, District of Columbia 20052
$31,77082%
#6
Stevens Institute of Technology
Castle Point On Hudson, Hoboken, New Jersey 07030
$37,41485%
#7
Indiana University, Bloomington
107 South Indiana Ave., Bloomington, Indiana 47405
$9,78679%
#8
Quinnipiac University
Mt Carmel Ave, Hamden, Connecticut 06518
$19,35077%
#9
The University of Alabama
739 University Blvd, Tuscaloosa, Alabama 35487
$10,78071%
#10
University of Texas, Dallas
800 West Campbell Road, Richardson, Texas 75080
$14,56070%
#11
Embry-Riddle Aeronautical University, Daytona Beach
1 Aerospace Blvd., Daytona Beach, Florida 32114
$18,22862%
#12
Robert Morris University
6001 University Boulevard, Moon Township, Pennsylvania 15108
NA65%
#13
Webster University
470 E Lockwood Ave., Saint Louis, Missouri 63119
$13,50058%
#14
University of Colorado Denver
1380 Lawrence Street, Lawrence Street Center, Suite 1400, Denver, Colorado 80217
$6,78652%
#15
University of St. Francis
2701 Spring St, Fort Wayne, Indiana 46808
$11,44855%
#16
Liberty University
1971 University Blvd, Lynchburg, Virginia 24515
$7,93547%
#17
Texas A & M University, Commerce
2600 South Neal Street, Commerce, Texas 75428
$3,63043%
#18
Southern New Hampshire University
2500 North River Road, Manchester, New Hampshire 03106
$18,81044%
#19
National University
11255 North Torrey Pines Road, La Jolla, California 92037
$15,48029%
#20
Florida Institute of Technology Online
150 West University Blvd, Melbourne, Florida 32901
$16,128NA

Source – Integrated Post Secondary Education Data System & University Data
*Tuition rates are for in-state and per year. Program specific rates may apply.
**NA – data not available

The Most Affordable Online Master’s in Management Programs

Affordability is a crucial factor when selecting a school. Accredited master’s programs have varying costs, and prestigious business schools tend to be more expensive. For those seeking an economical yet high-quality option, a list of the most budget-friendly online master’s in management programs is compiled to assist in making an informed choice. The methodology for ranking the most affordable master’s in management degree programs is considered the key factor of utmost concern to students. Here is the list of top affordable programs compiled by OMC:

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College Name & AddressTuitionGraduation Rate
#1
Middle Georgia State University
100 University Parkway, Macon, Georgia 31206
$3,58223%
#2
Texas A & M University, Commerce
2600 South Neal Street, Commerce, Texas 75428
$3,63043%
#3
Fort Hays State University
600 Park St, Hays, Kansas 67601
$3,72643%
#4
Chadron State College
1000 Main St, Chadron, Nebraska 69337
$4,18545%
#5
Tarleton State University
1333 W. Washington, Stephenville, Texas 76401
$4,24849%
#6
Southeast Missouri State University
One University Plaza, MS2025, Cape Girardeau, Missouri 63701
$5,37350%
#7
American Public University System
111 W Congress St, Charles Town, West Virginia 25414
$6,66040%
#8
University of Colorado Denver
1380 Lawrence Street, Lawrence Street Center, Suite 1400, Denver, Colorado 80217
$6,78652%
#9
Amberton University
1700 Eastgate Dr, Garland, Texas 75041
$6,840NA
#10
Liberty University
1971 University Blvd, Lynchburg, Virginia 24515
$7,93547%
#11
University of Maryland, University College
3501 University Blvd East, Adelphi, Maryland 20783
$8,64015%
#12
Minot State University
500 University Ave W, Minot, North Dakota 58707
$8,73145%
#13
Peru State College
600 Hoyt Street, Peru, Nebraska 68421
$9,12034%
#14
Indiana University, Bloomington
107 South Indiana Ave., Bloomington, Indiana 47405
$9,78679%
#15
University of Florida
Tigert Hall, Gainesville, Florida 32611
$10,77088%
#16
University of Alabama
739 University Blvd, Tuscaloosa, Alabama 35487
$10,78071%
#17
Thomas Edison State University
111 W State St, Trenton, New Jersey 08608
$12,024NA
#18
Webster University
470 E Lockwood Ave., Saint Louis, Missouri 63119
$13,50058%
#19
Strayer University
5110 Auth Way, Suitland, Maryland 20746
$14,94010%
#20
Michigan State University
East Lansing, Michigan 48824
$18,85881%

Source – Integrated Post Secondary Education Data System & University Data
*Tuition rates are for in-state and per year. Program specific rates may apply.
**NA – data not available

What Online Master’s in Management Programs Entail

Online Master’s in Management programs provide a comprehensive curriculum that blends core courses with specialized management topics. Students gain essential skills in project management, leadership, human resources, and decision-making. The programs often include capstone projects or e-portfolios to showcase practical applications. Flexible online learning allows working professionals to balance studies with their careers and advance their management expertise.

Curriculum and Skills You’ll Gain

Upon completing an online Master’s in Management program, graduates gain a leadership toolkit applicable to corporate and non-profit management roles. The curriculum includes essential skills in project management, business communications, human resource leadership, accounting, and change management strategies. Here is a sample of the Master’s in Management courses:

Master’s in Management CoursesDescription
Project managementThis course focuses on developing specific skills essential for effective project management, such as financial allocation, cost models, quality and risk management, change orders, and implementing best-practice solutions. Students gain expertise in handling complex projects and achieving successful outcomes.
Human resource managementThis advanced course delves into the strategic planning process for recruiting, training, evaluating, and retaining employees. It also involves an in-depth analysis of leadership ethics and formulating effective HR policies to ensure a harmonious and productive work environment.
Innovative leadershipThis course encompasses effective leadership, organizational behavior, change implementation, and project management, equipping students with the skills and knowledge to lead and drive innovation within organizations.
Statistics for decision-makingBusiness students gain essential knowledge of strategic methodologies for data collection, result interpretation, and trend analysis, enabling them to make informed decisions crucial for effective management.
Management CapstoneIn this course, students develop an e-portfolio showcasing their mastery of skills and knowledge gained throughout the program. This presentation demonstrates the application of their expertise to solve real-life business challenges effectively.

Degree Types

Three major online Master’s in Management degrees should be considered: MS, MA, and MBA. Each qualifies individuals as managers, but there are significant differences among them. To assist in deciding the ideal course for a management career, the programs have been distinguished with Master’s in Management course details and focus:

MS in Management

The online MS in Management is the gold standard for students who plan on various industry leadership roles. Unlike the MA, the MS degree offers a greater variety of concentrations in management studies. It is not a terminal degree, meaning graduates may earn a doctorate if they choose. Studies traditionally culminate in a thesis or Capstone project.

MA in Management

Universities that offer an online MA in Management can be located. Although the program may encompass certain aspects of the MS curriculum, the MA is a terminal degree. Students pursuing an MA do not plan to progress to a doctoral program or engage in teaching management at the university level. A thesis may not be a mandatory component.

MBA in Management

The MBA in Management is a one to two-year degree (full-time) designed for business professionals who want to take their existing career into executive, supervisory, and management roles.  This management MBA is different from generalist MBAs in that it concentrates on the leadership of finance, human resources, marketing, and personnel leadership. Find out more about this degree on our MBA page.
MBA programs come with a higher cost than MA and MS programs in Management, making the MBA in Management an investment in comprehensive business and financial education.

What’s the Difference between a Master’s in Management and an MBA in Management?

The key difference between a Master’s in Management (MiM) and an MBA in Management lies in their target audience, curriculum, and focus. A MiM is typically designed for recent graduates or early-career professionals with limited work experience. It offers foundational knowledge in management principles, leadership, and business functions. 

On the other hand, an MBA in Management is tailored for individuals with several years of work experience, aiming to advance their careers into higher management positions. It provides a broader and more in-depth understanding of business concepts, strategic decision-making, and specialized areas such as finance, marketing, and entrepreneurship. Both degrees prepare graduates for management roles, but their timing and emphasis vary to suit different career stages.

Specializations for Management Students

Today’s online Master’s in Management degree programs integrate core courses with specialized management coursework, allowing students to select their degree concentration based on their intended sector of practice. For additional details, read our organization leadership page.

Area of FocusDescriptionCareers This Concentration Prepares For
Healthcare Management Strategy and LeadershipThis specialization centers on navigating the complex healthcare industry. Students develop skills in healthcare policy, financial management, and leadership. This specialization prepares individuals to lead and innovate in healthcare organizations, addressing challenges and improving patient outcomes through strategic management approaches.Healthcare Manager, Healthcare Strategist, Health Services Administrator
Project ManagementThis Master’s in Leadership online specialization features project planning and evaluation studies, cost estimating and control, human resources skills, and financial contracts and procurements.Project Manager, Project Coordinator, Program Manager
Marketing ManagementThis specialization focuses on developing strategic marketing skills. Students learn to create effective marketing plans, analyze market trends, and enhance brand positioning. The specialization equips individuals with the knowledge to drive successful marketing campaigns and navigate the dynamic landscape of consumer behavior.Marketing Manager, Brand Manager, Sales Manager
Management Information SystemsThis specialization emphasizes integrating technology and business strategies. Students gain expertise in leveraging information systems to enhance organizational efficiency, decision-making, and innovation. This specialization prepares individuals to lead in the digital age by aligning technology solutions with business objectives.IT Manager, Systems Analyst, Information Systems Manager
Strategic Human Resource ManagementThis specialization focuses on aligning HR practices with organizational goals. Students delve into talent acquisition, performance management, and employee development strategies. This specialization equips individuals to lead HR initiatives that contribute strategically to overall organizational success and sustainability.Human Resources Manager, HR Consultant, Organizational Development Specialist

Graduation Timeline

Typical Timeline: 2 years

Credits to Completion: 30

The total time it takes to complete the online Master’s in Management is governed by several variables. The time to graduation is based on the total number of required credits and whether they attend a full- or part-time schedule. There may be prerequisites that must be completed before accruing program credits. In most cases, earning the MIM will require two years. Depending on the requirements and the student’s availability, the degree may take 1.5 to 2 years. There are ways to shorten the duration. For example, full-time online students might take more courses per term than the recommended course load.

One-Year Online Master’s in Management Programs

The duration of completing the degree and returning to the workforce is a concern for some students. The one-year online Master’s in Management is an accelerated degree option. The university and the program are accredited, yet the total number of hours required for graduation may be lower than at traditional online Master’s in Management programs. To complete the program, online students must be dedicated to keeping up with rigorous, accelerated studies. Often, students can customize their curriculum to focus on career advancement, career change, and entrepreneurship. Here are some one-year online masters in management programs:

Admission Requirements for Online Master’s in Management Programs

Admission requirements can vary from school to school. Typically, applicants must satisfy the general requirements established by the graduate school. They must also address any business division requirements offering the online Master’s in Management, including any prerequisite courses. Here is a glance at the most common entrance requirements for the degree program:

Academic transcripts

Submit official transcripts for each completed undergraduate or graduate course. Applicants should have maintained a GPA of 3.0 or higher.

Personal statement

The personal statement, also known as an application essay, should encompass career aspirations, educational goals, and reasons why the specific program is the most suitable.

Current professional resume

The business school seeks information on experience and its relevance to the online Master’s in Management. Students may earn class credit or waivers for GRE/GMAT exams with a compelling resume.

Professional recommendation letters

Two to three letters may be required. These should come from professors in previous schooling who attest to academic promise. Letters from employers may also be acceptable.

GMAT/GRE scores

University guidelines require some programs to require graduate testing scores. The GMAT is the preferred entrance exam for this major. Many schools will waive the graduate exams if the applicant’s prior degree, related work experience, and other application documentation demonstrate aptitude.   Learn more about the GRE and GMAT.

Online Master’s in Management No GRE Programs

Working students juggling their master’s programs with busy schedules may find preparing for GRE entrance exams time-consuming. The good news is that numerous Online Master’s in Management programs don’t require GRE scores. For exam preparation and program information without these requirements, visit the GRE Prep page. Also, ensure the chosen degree is accredited by advanced collegiate schools. Northeastern University D’Amore-McKim School of Business4 is an example of a university that does not require a GRE score for its MS in Management program.

Accredited Programs

When a business school attains national or regional accreditations, it ensures a program that adheres to educational standards for a comprehensive and high-quality Master’s in Management education. Lack of attendance in accredited management courses may render students ineligible for federal financial aid and prevent them from obtaining professional certifications or enrolling in continuing education. Learn more about accreditation.

Here are some national organizations that provide business school accreditation:

Accreditation Council for Business Schools5

Universities and business schools may seek voluntary accreditation from the ACBS that evaluates teaching excellence and continuous efforts to improve accredited management courses. Founded in 1988, the ACBS currently accredits more than 1,200 programs in 60 countries.

The Association to Advance Collegiate Schools of Business (AACSB International)6

The AACSB-accredited institutions include private and public schools offering business degrees from the associate to the doctorate. To date, AACSB currently accredits nearly 900 business schools.

Here are the six regional accreditation organizations:

Free Online Master’s in Management Courses

In the world of management, students can join free courses to understand the field better. These courses give useful ideas about what management professionals do. When students finish these courses, they might get completion certificates, but organizations might not accept them as valid or the same as recognized courses. Here are some free management courses for students to consider.

CourseQuality Management Essentials Simplified13
Offered byUdemy
DescriptionThis course provides a clear understanding of fundamental quality management principles. Covering key concepts, tools, and techniques, this course equips learners with the skills needed to enhance product and service quality, optimize processes, and drive continuous improvement. Ideal for professionals seeking to master quality management in a concise and accessible format.
CourseDiploma in Modern Project Management14
Offered byAlison
DescriptionUtilizing the Project Management Institute’s Book of Knowledge, this free online diploma course delves deeply into contemporary project management theory and optimal practices. The perpetual drive for enhanced project efficiency within organizations makes skilled project managers highly sought-after. This program further imparts the art of skillfully overseeing tasks and assuming leadership responsibilities, empowering individuals with effective project management capabilities.
CoursePeople Management15
Offered byClass Central
DescriptionIn this course, students explore People Management, acquiring insights into team motivation, communication, and conflict resolution. They develop skills to cultivate a positive workplace, optimize performance, and foster growth. This free online resource empowers learners to elevate their abilities, enabling them to lead and inspire successful teams.

How to Pay for Your Online Degree

Opting for an online degree offers flexibility and convenience to individuals aiming to enhance education and career opportunities. However, the expenses involved may pose financial challenges. This guide explores diverse methods to fund an online degree, such as scholarships, grants, fellowships, and financial aid, ensuring academic aspirations can be achieved without undue financial burden.

Scholarships

Scholarships for Online Master’s in Management Students

Various entities, including non-profit associations, private organizations, universities, and business schools, offer scholarships for Online Master’s in Management. These scholarships are typically awarded based on academic performance and student needs, providing financial support for all or part of the total tuition. The best part is that scholarships do not need to be repaid. Here are a few examples of the management scholarships available:

ScholarshipAlpha Kappa Alpha Graduate Scholarships16
DescriptionThe AKA Scholarships are granted for one year, and selection is based on academic merit and financial need. Applicants must be enrolled in a graduate program on a full-time basis and have a community involvement record.
Award/AmountVaries
Application DeadlineAugust 15
ScholarshipGoldberg-Miller Public Finance Scholarship 17
DescriptionOpen to full-time graduate students with a demonstrated commitment to management in the public sector. The Girard Miller Foundation has funded this scholarship since 1985.
Award/Amount$25,000
Application DeadlineTBA for 2024
ScholarshipInnovision Imaging, Inc. Scholarship18
DescriptionOpen to students pursuing a master’s degree in areas related to health informatics or health information leadership. The AHIMA Foundation sponsors it. Preference goes to grad students specializing in the management of internet marketing.
Award/Amount$7,000
Application DeadlineMay 31, TBA for 2024
ScholarshipHispanic Scholarship Fund 19
DescriptionApplicants must be of Hispanic background and be a graduate management major at an accredited university. The Hispanic Scholarship Fund (HSF) offers $30 million in scholarships per year.  
Award/Amount$500-5000
Application DeadlineFeb 15, TBA for 2024

Grants

Grants are a form of gift-based financial aid available to students from various sources, including the federal government, state agencies, and universities. Unlike loans, grants do not require repayment, making them a valuable resource for funding education and reducing the financial burden on students.

Student Loans

The U.S. Department of Education’s federal student loan program20 offers four kinds of loans: subsidized and unsubsidized. There are also private loans from banks and credit unions. Students must repay all loans — plus interest — upon leaving the university.

Federal Work-Study

Federal Work-Study is a government program that enables graduate students to engage in part-time jobs related to their field of study while pursuing their education. It offers valuable work experience and financial assistance. However, some institutions may not allow students to work both on and off-campus jobs simultaneously during their studies.

Employer Reimbursed Tuition

Employers often offer Tuition reimbursement as an incentive to retain employees for a designated period. It represents an investment in employees’ advanced education. In most instances, students must complete their program and cover the costs upfront before the firm provides repayment. Find comprehensive details on financing online Master’s in Management in the Best Financial Guide.

Career Paths and Average Salaries for Management Graduates

Graduates of online master’s degree programs in management have a wide range of career opportunities across various sectors, leveraging their specialized focus and experience. High-growth fields encompass financial management, finance and insurance, scientific and technical services, state and local governments, and manufacturing. The following list provides salary information, related job roles, and employment projections for various management careers:

Job TitleFinancial Managers21
Median  Salary$139,790
Job Growth (2022- 2032)16% (much faster than average
DescriptionProfessionals in this field oversee their organizations’ financial growth, analyze investments, and set long-term goals to optimize profits. They report to senior managers, ensuring strategic financial management for sustainable business success.
Job TitleAccount Management Manager22
Median  Salary$133,789
Job Growth (2022- 2032)No Data Available
DescriptionAccount Management Manager oversees and devises sales plans for an account management team, ensuring clients’ ongoing needs and revenue goals are met. They handle major accounts personally, set sales targets, propose product enhancements or sales channel expansions, and report to a department head.
Job TitleManagement Accounting Manager23
Median  Salary$120,600
Job Growth (2022- 2032)No Data Available
DescriptionIn the role of Management Accounting Manager, supervision of the collection and analysis of operational metrics for trend analysis, budget allocations, and forecasts is required. Responsibilities include developing financial accounting and reporting processes that analyze costs and budgets and supporting informed management decision-making. Additionally, the duties will be implementing systems and tools to provide accurate and timely regular and ad-hoc reporting for internal planning purposes.
Job TitleEmergency Management Directors24
Median  Salary$79,180
Job Growth (2022- 2032)3% (as fast as average)
DescriptionEmergency management directors are responsible for developing comprehensive plans and procedures to respond effectively to natural disasters and emergencies. They are crucial in leading and coordinating responses during and after such events, ensuring public safety and minimizing damage. These professionals collaborate with government agencies, first responders, and community organizations to ensure a coordinated and efficient emergency response. With their expertise, they contribute significantly to disaster preparedness and community resilience.

Certifications and Licensing for Management Graduates

Beyond graduation, working managers can increase job opportunities or advance into leadership roles by obtaining a voluntary MSM certification. Certifications are available from professional organizations that measure education and skills in the specialty. No licenses are required for the profession except for those who work as personal financial or insurance advisers. These are common certifications held by managers:

  • Project Management Professional25 : The PMP acknowledges the qualities and qualifications for project leadership. The Project Management Institute that offers the certification exams says those holding the credential can earn at least 25% higher than those without the certification.
  • American Association of Healthcare Administrative Management (AAHAM)26 : The AAHAM certification is offered by the Association of Healthcare Administrative Management and is designed for strategic healthcare managers. Credentials are for the Certified Revenue Cycle Specialist (for beginning managers) and the Certified Revenue Cycle Executive.
  • AMA Certified Professional in Management27 : The American Management Association offers test preparation and exams to earn an AMA certification. The AMA reports that the certification can increase a manager’s role and higher earnings and separate job seekers from those who do not hold the credentials.
  • Financial Risk Manager (FRM®)28 : The FRM is among the top credentials for risk-management professionals worldwide. The FRM attests to skills in analyzing and mitigating risks in a bank or corporate setting.

Additional Resources for Students

There are abundant resources that can support degree work toward an Online Master’s in Management. These include professional management associations that offer student memberships. They offer research resources, publications, conferences, and certifications. At the same time, management organizations serve the interests of professionals already working. Some organizations offer job boards and employment assistance. One of the most indispensable features of the association is the opportunity to network with fellow students, mentors, and potential employers. Here are some examples of organizations that support students and managers in healthcare, finance, marketing, and human resources:

  • American Association of Healthcare Administrative Management (AAHAM)29 : (AAHAM) serves the medical management community by providing courses, advanced certifications, and financial leadership information for the healthcare industry. It specializes in revenue cycle, data management, reporting, and compliance.
  • American Management Association30 : Founded in 1923, AMA offers coursework, continuing education, and the AMA Certified Professional in Management credential. Resources include news, white papers, and articles. Online Master’s in Management students can explore skill assessments, women’s leadership programs, and association events.
  • SHRM31 : With a global presence in over 165 countries and over 300,000 members, SHRM is the largest HR professional society. It provides HR professionals with various resources, certifications, and educational opportunities, enhancing their expertise and offering guidance on crucial workplace matters. As a leading advocate, SHRM shapes HR policies and practices worldwide.
  • Strategic Management Society (SMS)32 : The Strategic Management Society comprises over 3,000 members from 80+ countries, encompassing diverse backgrounds and perspectives. Membership includes academics, business practitioners, and consultants, all dedicated to advancing insights on strategic management and fostering global connections and knowledge exchange.
  • Academy of Management33 : A leading professional association for management and organization scholars, the Academy of Management boasts worldwide members, including professors, Ph.D. students, academics from related fields, and practitioners. Established in 1936, our global community has grown to nearly 18,000 members across 120 countries, all committed to knowledge creation and application.

FAQs About Online Master’s in Management Programs

What does an MSM degree stand for?

The accredited, online Master of Science in Management (MSM) degree focuses on developing leadership skills for students who have earned a bachelor’s degree. Concentrations in the curriculum allow students to concentrate on the most appealing industries. An MSM differs from an MBA degree and is more suitable for students preparing to enter the management profession.

How much does the online MSM cost?

How long does it take to get an MSM degree online?

Is an MSM different from an MBA?

Is an MSM degree online worth it?

What can you do with a master’s in management degree?

Which management jobs have the highest salaries?

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