What Can I Do With a Masters in Business Management?
Written by Ben Taylor
A Masters in Business Management is one of the most popular postgraduate qualifications, taken by people at various stages in their careers. Recent graduates may study a Masters in Business Management as a way of boosting their employability, while established workers will often return to university as a form of professional development or to specialise in a particular area of business.
This page will give you an idea of the kinds of skills you’ll gain if you study a Masters in Business Management, as well as typical jobs and average salaries. We’ve also covered Masters in Business Administration (MBAs), a particularly well-known postgraduate qualification in this field.
What skills will I gain with a Masters in Business Management?
Studying a Masters in Business Management equips you with a whole set of transferrable skills to allow you to thrive in the professional world.
During a Masters in Business, you’re likely to study modules on commercial areas such as:
- Human resource management
- Operations management
- Organisational behaviour
- Supply chains
All of these module examples heavily relate to different job roles many businesses employ.
Your studies will culminate in a lengthy dissertation, taking the form of an independent research project that draws on what you’ve learnt. Some Masters programmes also involve a placement within an external organisation, in which case the dissertation may relate to your experiences with that company and its commercial challenges.
Alternatively, if you’re further along in your career you may want to study an MBA, which focuses more on developing your knowledge of strategy and leadership attributes. These kinds of programme are usually aimed at people with at least five years of business experience.
What jobs can I get with a Masters in Business Management?
A Masters in Business Management is one of the most versatile degrees in terms of career pathways. The skills you gain during your studies will put you in a good position to apply for management jobs in many different sectors. Alternatively, you might even feel inspired to begin your own company, putting your commercial knowledge into practice straight away.
A Masters in Business Management can open the doors to these main job sectors:
- Banking and finance
- Human resources and recruitment
Depending on your specialism and background, a Masters in Business Management job could include:
- Business development manager
- Compliance officer
- Data analyst
- Management consultant
- Marketing manager
- Project manager
- Risk manager
If you studied a Masters in Business or an MBA as an experienced professional, then your new qualification could provide you with the skills to progress within your current (or a new) organisation to one of the most senior management job roles, such as director, chief executive officer (CEO), chief financial officer or chief operating officer.
How employable are Business Management Masters graduates?
Official government data suggests that 83.5% of UK Business Management postgraduates from English universities are in full-time work or further study five years after finishing their Masters. 83.1% of MBA graduates are in the same position.
What salary could I earn with a Masters in Business Management?
Average earnings are another consideration to take into account when choosing a Masters. We’ve taken a closer look at HMRC data for Business Management graduates to see potential earnings for people who have taken these qualifications:
- The median earnings of a Business Management Masters graduate five years after finishing their course were £41,200
- The median earnings of a Business Management first degree graduate five years after finishing their course were £28,800
This means that, on average, Masters graduates in Business Management earn £12,400 per year more than Bachelors graduates – around 43% higher.
MBA graduates earned an average of £62,000 per year, five years after finishing their programme. In fact, the MBA was the highest paid qualification according to the HMRC statistics. Of course, there are lots of reasons for this, not least the fact that people studying an MBA are more likely to have several years of business experience before beginning the qualification.
This page uses official statistics for postgraduate salaries in the UK, based on information from HMRC that measures the earnings of UK postgraduates from English universities in the 2018-19 tax year. You should be aware that historical information doesn’t guarantee future career prospects and earnings. Many other factors also play a role in determining how well someone does with a Masters.
Search for a Masters in Business
Ready to begin your search for a programme? Browse the Business Masters listed on our website.