MBA in Project Management
As the name suggests, Master of Business Administration (MBA) degrees are graduate degrees that teach students about business administration.
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As the name suggests, Master of Business Administration (MBA) degrees are graduate degrees that teach students about business administration. Besides teaching business administration skills, an MBA in Project Management provides you with the expertise you need to land managerial roles. Project management plays a crucial role in almost every setting and industry, and as such, project managers are sought out in nearly every industry you can name.
Why MBA in Project Management?
Currently, the demand for project managers is high. Work opportunities for graduates with MBA in Project Management are endless, from entry-level to executive positions. Considering that through your studies, you will learn to master advanced project management techniques, you can set yourself apart as a leader in future workplaces.
Wider Diversity of Employment Options
An MBA in Project Management prepares you to contribute to your organization's success effectively. Industries that hire MBA in Project Management graduates include but are not limited to the following:
- Construction and Engineering
- Insurance Services
- Healthcare Administration
- Information Services and Technology
Salaries for MBA in Project Management graduates differ between countries. Some countries that offer the highest salaries for MBA in Project Management graduates are Singapore, the United Kingdom, the United States, Switzerland, Canada, etc.
You can earn from $86,000 to $140,000 per year. Of course, salaries for graduates in this field might be lower in developing countries and higher in developed countries.
One great thing about MBAs is the opportunity to work with real cases. In fact, case studies are an irreplaceable part of the MBA program curriculum, allowing you to develop work experience in project management. Working with real cases prepares you for what awaits after graduation by developing your critical thinking and teaching you how to build better strategies to approach different issues. Employers highly appreciate this all around the world.
Network with Professionals
Networking is one of the essential tools you can use to succeed. An MBA in Project Management allows you to network with professionals from various backgrounds. While pursuing your degree, you will be able to develop professional contacts and social contacts. Usually, MBAs are full of students with a wide range of work experience, so pursuing an MBA in Project Management will place you among highly experienced professionals.
Curriculum of MBAs in Project Management
MBAs in Project Management usually take two years to complete. In the majority of business schools, the course curriculum for MBAs in Project Management is divided into 4 semesters. Subjects that are more likely to be included in an MBA in Project Management course are:
- Management Theory and Practice
- Human Resource Management
- Financial Management
- Marketing Manager
- Research Methods for Business
- Strategic Management
- Project Report
- Advanced Operations Management
- Management Information System
- Product Design and Product Management
How Much Does an MBA in Project Management Cost?
Generally, MBAs tend to be quite costly. The main factors that impact the cost of an MBA, including one in Project Management, is the country and business school where you are going to study. Countries such as the United States, the United Kingdom, Switzerland, Spain, France and Singapore have some of the most expensive MBAs.
See below for the cost of an MBA in Project Management in different countries:
|Country||Cost of Tuition|
|The United States||$11,000 to $90,000 / Year|
|The United Kingdom||£17,000 to £88,000 / Year|
|Switzerland||CHF 30,000 to CHF 85,000 / Year|
|Spain||€19,000 to €40,000 / Year|
|France||€15,000 to €45,000 / Year|
Do I Need Work Experience to Become a Project Manager?
Working as a Project Manager usually requires work experience. However, plenty of universities provide excellent training throughout the degree that students graduating from excellent universities find great work opportunities within 3 months of graduation.
Some senior positions in the field of project management will require extensive work experience, thus, there will be cases where a highly-recognized MBA degree will not make up for the lack of work experience.
How Long Does It Take to Become a Project Manager?
The time it takes to become a project manager depends on a number of factors. If you are starting from scratch, earning an undergraduate degree in project management might be a good first step. Undergraduate degrees in Project Management usually take four years to complete. Master’s degrees in the field can take up to three years of full-time study to complete, whereas MBAs take up to two years of full-time study to complete.
The business school from which you earn your degree might have an impact on how fast you become a project manager. Some universities have quite a high reputation that graduates find well-regarded positions only a few months after graduation. As a result, choosing the business school you are going to attend wisely should not be taken lightly.
What Can I Do with an MBA in Project Management?
An MBA in Project Management can secure you a job into a number of different fields. Currently, project managers are high in demand in almost every industry, including pharmaceutics, IT, Government, and not only.
If you are wondering what jobs you can pursue after earning an MBA in Project Management, see below:
- IT Project Manager
- Project Analyst
- Consulting Project Manager
- Director of Operations
- Government Project Manager
- Project Executive
- General Contractor Manager
Highest Paying Jobs in Project Management
An MBA in project management can lead to some very high paying job positions. Upon earning your MBA in Project Management you will have the opportunity to choose between the following positions:
|Project Management Jobs||Salary|
|Project Manager||$94,500 / Year|
|Project Analyst||$70,379 / Year|
|Project Coordinator||$58,038 / Year|
|Resource Manager||$64,268 / Year|
|Cost Estimator||$77,333 / Year|
|Chief Operating Officer (COO)||$472,261 / Year|
|Marketing Manager||$114,269 / Year|
|Medical and Health Services Manager||$94,500 / Year|
|Training and Development Manager||$129,303 / Year|
|Sales Manager||$127,490 / Year|
GMAT/GRE Requirements for an MBA in Project Management
One of the main admission requirements to MBA programs includes GMAT or GRE scores. It usually depends on the university you are going to attend which test scores to submit. Schools do not require both GMAT and GRE scores, they usually put a preference on one or the other. Some business schools might not even require GMAT or GRE scores at all. The minimum GRE or GMAT score you must submit when applying for an MBA in Project Management depends on the university you are going to attend.
Can I Study MBA in Project Management Online?
Yes, you can pursue an online MBA in Project Management at many prestigious universities across the world. Currently, Online MBAs count a number of benefits, the most important being the flexibility students find in Online MBAs. Although Online MBAs tend to be more flexible, there is not a drastic difference between the curriculum of online Project Management MBAs and traditional MBAs. Admission requirements between an online and on-campus MBA in Project Management are generally the same.
The main differences between an Online and Traditional MBA in Project Management are the following:
|Online VS Traditional MBA in Project Management||Online MBA in Project Management||Traditional MBA in Project Management|
|Duration||12 - 24 Months||1 - 3 Years|
|Cost of Tuition||Cheaper||More Expensive|
|Networking||Less Networking Opportunities||More Networking Opportunities|
The cost of an online MBA in Project Management starts as low as $7,000 per year, and it increases based on the university and country where you pursue your studies. Apart from online MBAs in Project Management, you can also attend part-time courses. You will have plenty of options to choose from depending on your chosen university. The duration of part-time MBAs in Project Management is about 2 years.
MBA in Project Management vs Master’s in Project Management
An MBA in project management has a more generalized approach as it involves courses in marketing, accounting, sales and not only. A Master’s degree in Project Management, on the other hand, takes a deeper dive into the field of project management.
The duration of MBAs and Master’s degrees in Project Management usually differs. MBAs usually take two years to complete, but with an accelerated MBA you can complete your degree in only 16 months, sometimes less. Master’s degrees in Project Management can take three years of full-time study to complete, even longer if you choose the part-time study option.
Choosing between an MBA and a Master’s degree in Project Management comes down to one important factor that is your goal for the future. If you wish to further your knowledge in the field and already have some work experience, an MBA might be the wiser option. If you wish to focus on project management only and prefer a more theoretical approach, a Master’s degree in Project Management can offer you that.