May 7, 2016
From major corporations and hospitals to schools and production companies, most businesses have something in common: a leader. If you've ever wanted to be the head of companies such as these, you may want to earn an MS in Management. Individuals with this degree earn median salaries between $60,000 and $90,000 annually according to the Bureau of Labor Statistics (BLS), and work in a field that's currently growing faster than the national average.* With Southern New Hampshire University's (SNHU) online master's degree in management program, you can earn your new title and further your career right from home.
Businesses today face many challenges: change management, evolving technology, effective communication, the development and support of talent, as well as the need for strong leadership. According to Mark Hobson, the associate dean of programs for SNHU graduate business degrees, effective management is critical for ensuring top performance in the workplace.
"Managers produce work through other people. They direct functions and work groups through decisions, budgets, and activities around goals," Hobson said. "Good managers know how to plan and organize functions and project, lead employees and control outcomes. An MS Management degree teaches and reinforces critical skills for success and helps to foster managers that are flexible, committed life-long learners."
Without a well-trained manager, businesses run the risk of becoming inefficient and ineffective.
The very nature of a managerial position ensures that you will be working with other people. You'll lead different individuals across varying experience levels, and likely work with people who are higher up in the organization, such as CEOs, board members and investors. For instance, if you work for the Department of Homeland Security, you might spend time with government officials in addition to your staff who run the daily operations of the department.
It's important to note, however, that you are not simply telling people what to do and sending them off to carry out your plans. To learn the ins and outs of a company or organization, you'll need to work closely with members at all levels. This will allow you to see what is working well and note any areas that need more efficient methods. This could include a wide variety of responsibilities, such as changing the floor plan of an emergency room to allow for better flow into other regions of the hospital. You may even suggest cutting down on unnecessary communications to shorten the work day.
Feedback is a huge part of being a manager, so asking questions and being a good listener is very important. You're not just a supervisor; you're working to better the workplace as a whole. To do this effectively, you'll need the help your entire team.
If you're considering a career in management, you should first consider the skills that you'll need to excel in one of these roles. For example, those with excellent problem solving abilities make excellent leaders in the field of management. As a manager, you'll use critical thinking skills to come up with creative solutions. If you work in healthcare and emergency care settings, staying calm in the face of adversity while accomplishing objectives will convey a sense of control to your employees. If you enjoy finding ways to help staff members perform at their best in a safe environment, you may find an MS in Management is a good fit for you.
A large part of management involves establishing and enforcing divisions of labor in the workplace. As a manager, you'll spend time both encouraging your team to reach their goals and finding ways to assist them in doing so. You must have top-notch communication skills as your day will be spent speaking with people from many walks of life, from CEOs and investors to peers and staff members.
According to Hobson, to be a successful manager it's important to have formal training and education as well as job experience. When you enroll in SNHU's Master of Science in Management program, you'll take courses that will equip you with the expertise that you need to effectively supervise your staff, such as exemplary people and project skills.
"A Master of Science Degree in Management at SNHU focuses on six core areas of content and student development: human resources and talent development; communication skills and building relationships; critical thinking and strategic planning; project and time management; business metrics and financial analysis; marketing and brand management," Hobson said. "We believe these six core areas are critical elements of success for managerial talent."
If you feel that you're naturally adept at handling challenging conversations, organizing projects or other managerial tasks, the online master's degree in management program could further and refine your abilities and help you on the path to a successful career.
SNHU also offers three concentrations in the MS in Management degree: Construction Management, Emergency Management and Healthcare Management. Choosing a specific concentration can help you acquire the particular skills that you'll need after graduation for the career of your choice.
SNHU's new MS in Management with a concentration in Construction Management is ideal if you want to take on a leadership role in the construction industry. Communication is an integral part of any management role, and it's also essential in the construction field. You'll develop strong skills - verbal, written, presentation and technical - allowing you to become a strong communicator across all segments of your team. You'll establish effective project and management plans, prioritizing responsibilities and tasks, and be able to offer cost and data analysis on projects.
The U.S. Department of Labor project nearly 18,000 new jobs in construction management by 2024*, which means that time is ripe for you to begin your journey toward a leadership role in this burgeoning industry. Salary.com notes that construction managers can earn a median annual salary of $103,585, and while salaries may differ depending on the type of construction industry, size, location and your experience, this figure was derived from data collected from thousands of HR departments nationwide.
Your roles may vary within the construction industry, but with your MS in Management with a concentration in Construction Management, you'll target positions such as these: construction manager, foreman, superintendent, general contractor, estimator, scheduler, project manager and projects executive, along with other integral lead roles.
While construction managers often work from an office setting, their responsibilities often include site visits, where they interact with staff and crews, ensuring work is completely on budget and on time. They often consult with owners, design professionals and contractor, overseeing coordination and scheduling, inspections and compliance reviews for safety and environmental regulations. Your role is critical to the success of every project.
With SNHU's online MS in Management with a concentration in Emergency Management, you'll be skilled in minimizing risk and safeguarding the public, with the ability to plan, prepare and respond to critical threats in diverse situations. From natural disasters to organization crises, you'll have what it takes to make the difference in times of strife and deliver the best possible outcomes.
According to the BLS, emergency management directors have a median salary of $59,770 annually. These individuals prepare businesses, cities and governments for natural disasters and emergencies. Some work in hospitals creating response plans and protocol to address such situations should they arise. Others are employed by area governments to make evacuation routes and collaborate with emergency responders such as local police and fire departments.
When you earn a degree in emergency management from SNHU, you're in a position to pursue a number of careers in the field. Government agencies, healthcare, education and private business all need emergency managers to fill particular roles, and the skills you learn in the degree program can be applied across a variety of industries.
One popular option is to pursue a career as a disaster program manager. Organizations such as the Red Cross hire managers to implement disaster program services in specific geographic areas. You may work with volunteers or employees to prepare for and respond to emergencies and assist in recovery after the event.
Other graduates pursue a fulfilling career as an emergency preparedness coordinator. In this position, you'll oversee emergency preparedness activities for organizations, ensuring that the necessary structure is in place for unexpected events. You'll likely serve as a representative in the community, working with partners, local organizations and others to ensure that your employer is prepared in the event of an emergency.
So what's the difference between healthcare managers and healthcare administrators? Both positions perform crucial roles in the development and maintenance of healthcare institutions. While each works for the betterment of the organization, the main difference lies in what these individuals oversee. Healthcare managers run the organization while administrators lead the staff, including clinicians.
Managers spend their time developing new policies and altering existing policies, as well as handling accounting needs and overseeing the facility. Smaller healthcare facilities may merge administrators and managers, creating a team that works together to address staffing, accounting and facilities management. All of these points should be considered when you are searching for a place of employment after earning an MS in Management with a concentration in Healthcare.
Where can an MS in Management with a concentration in Healthcare Management take you? MHA Degrees, a resource for those interested in pursuing a master's degree in health administration, lists the top five careers in this field starting with hospital CEO, which has a median salary of $166,000.
Next comes hospital administrator with a median salary of $110,000. Hospital CFO comes in third, earning a median salary of $155,000. You could also make your professional mark as a pharmaceutical product manager, which requires developing promotions for new medical devices and prescriptions, reviewing market data and looking into investments. These healthcare managers earn a median salary of $92,000 annually according to the source.
Finally, medical practice managers have a similar role to hospital manager, but their facility is smaller. In the position you'd likely earn a median salary of $81,000 while handling billing and budgeting, hiring staff, policy compliance and other administrative tasks. All of these positions will require the knowledge and experience you'll gain while earning an MS in Management with a concentration in healthcare.
The BLS lists the median annual salary for healthcare managers at $88,580. Job rates in this sector are expected to grow by 23% in that same 10-year time period, a statistic that is much faster than the national average. Around 73,300 positions should open up during that time. Individuals with an MS in Management with a concentration in Healthcare will likely work in an office at a hospital or other healthcare facilities, such as nursing homes or group medical practices. An aging population, increased life expediencies and improved disease treatments are all factors that are contributing to this growth.
Like all businesses, healthcare providers and facilities must pay attention to controlling costs while providing the highest standards of care. This effort falls on the shoulders of healthcare managers as they find ways for the organization to be more efficient. Health IT integration is playing a big part with innovations such as vendor neutral archiving, medical image sharing and patient data storage. Managers also need to prepare for and avoid drug shortages and patient readmissions, as they are often preventable and costly. As a healthcare manager, you'll ensure your place of employment is following the proper HIPAA privacy policies and other security compliance laws.
There are many factors contributing to the changing field of healthcare. A growing senior population heading toward Medicare benefits combined with extended life expectancy and the increasing frequency of chronic diseases means providers must be focused on high-quality care and wellness. According to Forbes magazine, better patient care and cost-efficient hospitals will require business-related methods of management. The big idea is that healthcare needs to start acting like a service industry to increase efficiency and minimize waste. It needs to take continuous, systematic steps to cut away what is unnecessary and focus more on quality patient services to increase value-based care in the medical field. This "lean management" idea comes from Dr. Gene Lindsey, former President and CEO of Harvard Vanguard Medical Associates and Atrius Health. Lean management may help doctors and other employees learn to treat patients more effectively, leading to better patient care and more cost-efficient health systems.
Students who have earned a Master of Science in Management can work in a broad range of industries. Many graduates go on to lead large organizations, such as corporations, nonprofit institutions, healthcare centers, governmental agencies, information technology companies or marketing agencies.
Earning an online MS in Management from SNHU will give you the necessary people and project skills to effectively lead the organization or company you work for toward success. You'll learn how to assess challenges, create solutions and make critical decisions. In the program, you'll be able to attain these skills while maintaining your busy life through the flexibility of an online master's degree in management. As a student, your management class doesn't need to interrupt your schedule. You can study, join discussions and complete homework at times that are convenient for you.
"The SNHU online business programs offer high quality learning that is accessible and affordable," Hobson said. "We are deeply committed to student success. We accept the responsibility of supporting and guiding our students to achieve their goals and have an amazing organizational culture of student service."
SNHU also provides many helpful resources to online students that promote a healthy work-life balance. The school designates an academic advisor for each student who will check in on their academic pursuits and help keep your degree progress on track. Students will also have access to career advisors who will help with cover letters, job applications, networking opportunities and other steps to help further their careers. If you ever need help with a management class or other question, your SNHU advisor is just a phone call or email away.
You can also connect with other online students in your program or others via the school's private social network, SNHUconnect. Here you can talk about which instructors to take next term, projects you're working on and even seek advice from experienced students or alumni. With all these helpful resources and more it's no wonder so many students are turning to online degree programs at SNHU for their master's degrees.
All industries have a need for new managers with fresh perspectives to help organizations turn a profit and support employees. As generations age, more will turn to medicine to help them live longer and stay healthier, and with an influx of patients comes an even greater need for confident, competent leaders. Emergency managers are necessary all over the world to address weather-related crises and other threats. These organizations are constantly growing and evolving to handle the changing climate and human-related incidents such as terrorism and warfare.
Those with a master's in management use their leadership skills to make a difference by efficiently and effectively running organizations and companies. These individuals earn high salaries and enjoy helping and working with people. If these sound like careers you might enjoy, consider enrolling in SNHU's master's degree in management program to further your career and turn over a new leaf. By taking a management class or two each term, you'll be on your way to professional advancement in no time.
*Job market data from the U.S. Bureau of Labor Statistics Occupational Outlook Handbook is intended to provide insight on occupational opportunities and is not to be construed as a guarantee of salary or job title. SNHU cannot guarantee employment.
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