Project managers are an integral part of the current economic landscape. They work in the engineering, production, business, finance, information technology, and healthcare industries. Usually, employers of project managers require only a bachelor’s degree from prospective candidates, but one of the best Master’s Degrees in Project Management can open pathways to more lucrative job roles.
This article focuses on some of the best project management master’s degrees, schools, and accreditations, as well as some of the careers and salaries offered to master’s degree holders. If you are interested in a project management master’s degree program, this article can help you make an informed decision about your education path.
What Is Project Management?
Project management is the application of specific skills, knowledge, techniques, resources, and tools to achieve project objectives within a particular timeframe. Project managers can oversee both short-term and ongoing projects. Projects such as the development of software, construction of infrastructure, and creation of new products are managed by project managers.
Where Can I Get a Master’s Degree in Project Management?
The best colleges where you can get a Master’s Degree in Project Management are located all around the United States. Some even offer fully online programs that can be completed from anywhere in the world.
What Schools Offer the Best Project Management Master’s Degrees?
- Bellevue University
- DeVry University
- Granite State College
- Metropolitan College of New York
- Southern New Hampshire University
What Are the Admission Requirements for a Master’s Degree in Project Management?
The admission requirements for a Master’s Degree in Project Management vary between schools. However, most programs require a cumulative undergraduate grade point average (GPA) of 3.0 or higher. You will likely also need two to three letters of recommendation, a written personal essay and statement of goals or objectives, and a copy of your current resume.
This program typically takes two years for full-time students to complete, although students in accelerated programs may finish earlier. During the program, students are required to complete 40 to 60 credits, which includes core courses and more specialized coursework in project management, such as construction management or IT management.
Project Management Master’s Degree Admission Requirements
- Undergraduate degree in the same field or a related field
- Cumulative undergraduate GPA of 3.0 or higher
- Two to three letters of recommendation
- Personal essay and/or statement of goals
- Current academic and/or professional resume
How to Get a Master’s Degree in Project Management
You can get a project management master’s degree by first earning an undergraduate degree in the same or a similar field. Almost every graduate degree program requires students to have first earned a bachelor’s degree before starting their master’s or doctoral degree. Then, you wil have to complete all of your chosen program’s requirements.
The best way to get a project management master’s degree is to begin studying the subject as early as possible. If you can take any project management courses in high school, it will cut down the time it takes to earn your bachelor’s. During your bachelor’s program, try to take as many project management electives as possible, because these prerequisites often count toward the credits needed to graduate from a master’s degree program.
How Many Credits Do You Need for a Master’s Degree in Project Management?
You need 40 to 60 credits for a Master’s Degree in Project Management. The number of credits you need to earn varies depending on the school and program, whether you have any transferable credits, and whether the program is on a quarter or semester system. Be sure to chat with an advisor to determine the exact number of credits you will need to earn.
Project Management Degree Requirements
- 40 to 60 credit hours
- 20 core credits in classes such as Fundamentals of Project Management
- 20 elective credits
- 2.5 or higher cumulative GPA
- Capstone project and/or thesis paper
Best Project Management Master’s Degree Programs and Schools: Overview
| School | Program | Accreditation |
|---|---|---|
| Bellevue University | Master of Business Administration in Project Management | Higher Learning Commission |
| Boston University | Master of Science in Project Management | New England Commission of Higher Education |
| Brenau University | Master of Business Administration in Project Management | Southern Association of Colleges and Schools Commission on Colleges |
| DeVry University | Master of Science in Project Management | Higher Learning Commission |
| Granite State College | Master of Science in Project Management | New England Commission of Higher Education |
| Lehigh University | Master of Business Administration in Project Management | Middle States Commission on Higher Education |
| Metropolitan College of New York | Master of Science in Project Management | Middle States Commission on Higher Education |
| Missouri State University | Master of Science in Project Management | Higher Learning Commission |
| Saint Mary’s University of Minnesota | Master of Science in Project and Program Management | Higher Learning Commission |
| Southern New Hampshire University | Master of Business Administration in Project Management | New England Commission of Higher Education |
Best Schools for Project Management: Top Project Management Master’s Degree Programs
The best schools for a project management master’s degree are available all around the country and even online. These schools offer some of the top project management master’s programs. Whether you prefer in-person, online, or hybrid learning, there is an option out there for you.
A Master’s Degree in Project Management is valuable for anyone pursuing a career or looking to advance their current career in project management. Look below for detailed information on the top programs listed in the table above.
What Is a Project Management Master’s Degree?
A Master’s Degree in Project Management is a graduate degree that teaches you how to effectively oversee and execute projects. This degree combines business administration, economics, and marketing concepts. Graduates with project management master’s degrees can pursue careers in engineering, construction, healthcare, and information technology.
A Master’s Degree in Project Management allows students to specialize in technical areas of their choice. Students can choose to focus on risk management, system analysis, development and planning, infrastructure, supply chain management, and many other concentrations.
How Important Is a Master’s Degree in Project Management?
It is very important to have a Master’s Degree in Project Management if you want to be hired for a senior-level position in this field. You can definitely get away with just a bachelor’s degree, but there are many benefits to earning a master’s.
The main reasons why a project management master’s degree is important are:
- Qualification for senior-level jobs
- Important training and education for various job-related tasks
- Increased salary potential
- Improved employability
- Advantage over competition for various jobs
What Types of Master’s Degree Can You Get in Project Management?
You can get the following types of Master’s Degrees for Project Management:
- Master’s degree
- Master of Science (MS)
- Master of Business Administration (MBA)
- Master of Professional Studies (MPS)
Is It Better to Get a Master of Science or Master of Business Administration in Project Management?
It is better to get a Master of Business Administration in Project Management because it trains you for work in the business sector. Not every project management job will be in business, but it is a very common role in this industry. Earning an MBA will educate you both in project management skills and in business skills, making your education much more versatile.
The difference between a Master of Business Administration degree in project management and a Master of Science degree is that an MBA offers a business-centered education while an MS offers a theory- and concept-based education. For project management, an MBA provides more hands-on learning opportunities through projects and internships, while an MS focuses on the theories and concepts behind project management ideas and tools.
What Is the Difference Between a Project Management Master’s Degree and a Project Management Certificate?
The main difference between a project management master’s degree and a certificate in project management is the curriculum. A degree program will try to cover as many aspects of project management as it can, and it will go in-depth into all of them. A certificate, on the other hand, will focus on only a few key components of the area of study.
You should get a project management degree instead of a certificate because you will impress more employers, earn a higher base salary, and have an easier time finding employment overall. A certificate can definitely get you a job, but having a master’s degree tends to do increase your chances.
How Much Does It Cost to Get a Master’s Degree in Project Management?
A project management master’s degree is a graduate degree costing an average of $19,792 per year, according to the National Center of Education Statistics. The cost of these programs varies based on the institution and location of study. Students living on campus can expect additional living charges that students studying online do not incur.
The best ways to cover the cost of a master’s degree program are through scholarships and financial aid grants, both of which have eligibility requirements based on the type of aid you apply for. Another common option is to apply for student loans, which offer a variety of repayment options depending on the lender.
How Long Does It Take to Get a Project Management Master’s Degree?
It takes approximately two years to get a Master’s Degree in Project Management. The Master’s Degree in Project Management length varies from program to program. You can also choose a part-time or full-time schedule, which impacts how long the program will take to complete.
By enrolling in a part-time program, you can often take as long as five years to complete the degree. On the other hand, if you enroll full-time, you will certainly finish in two years, or even as little as eighteen months. Even better is an accelerated program, which can often be finished in as little as one year.
How Hard Is It to Get a Master’s Degree in Project Management?
A Master’s Degree in Project Management is not very hard to get. The reason a project management master’s degree is easier to earn than others is because of the curriculum. It does not include much scientific, mathematical, or technological content. This means you will be focusing solely on theories, concepts, practices, and ethics, rather than learning new algorithms, functions, software, and hardware.
Why Should You Get a Project Management Master’s Degree?
The benefits of getting a project management master’s degree are that it:
- Provides important education and training for various careers;
- Qualifies you for a plethora of senior-level positions;
- Increases your salary potential and employability; and
- Teaches valuable theories and practices.
What Courses Do You Need to Take in a Master’s Degree Program in Project Management?
The required courses for a project management master’s degree vary from program to program. However, there are a few core courses you can expect to run into in just about every program. The following are five courses you will likely take on your way to getting a project management master’s degree.
Project Chartering and Planning
Project Chartering and Planning is one of the most common project management courses in a master’s degree program. This course involves learning how to take charge of projects, determining the best plan of action for executing them, and figuring out how to interact with everyone considered a key participant in the project.
Ethical Decision-Making
Ethical Decision-Making is another common course in a project management master’s degree program. In this course, the focus is on making big decisions and doing so ethically. You will study various hypothetical ethical dilemmas and learn how to make the best decisions.
Leading Teams
Leading Teams is a valuable project management master’s degree course. This course focuses solely on being the leader of a team and how to do so effectively. You will learn through various hands-on situations that teach how to best become an effective project team leader.
Building Diverse and Inclusive Organizations
Building Diverse and Inclusive Organizations is a higher-level course required for a project management master’s degree. In this course, students learn how to incorporate both diversity and inclusivity in organizations and individual teams.
Negotiation, Contracting, and Procurement
In Negotiation, Contracting, and Procurement, you study the business side of project management by learning how to negotiate with contractors, when to outsource work, and how to best collect things needed for your team’s project.
Continuing Education Paths for Project Management Master’s Degree Graduates
The best path to take with a project management master’s degree is directly into your career. You can pursue a PhD degree from various schools, or even graduate certificates, but you will want to get your feet on the ground in your desired career first. If you do want to pursue a doctoral degree, graduate certificate, or project management certification, consider doing so while getting your career started.
Related Project Management Degrees
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What to Look For in the Best Project Management Master’s Degree Programs
The best project management master’s degree programs have accreditation, experienced faculty, and good class sizes. The following five points are things to consider when determining how to best pick a project management master’s program.
Accreditation
Accreditation is almost like a reward given to universities for meeting a predetermined set of educational requirements. This is important to look for because it shows that your school and desired program meet national and industry standards.
Faculty Credentials
Faculty credentials show that a program’s faculty members are knowledgeable and experienced in the area of study they teach. This is important to look for when determining a program as it shows the instructors you learn from are experts in what they teach.
Cost
The cost of a program includes tuition, fees, and all other expenses necessary to successfully complete your program. It is important to take all aspects of the cost into consideration when deciding on a program, as you will definitely want to remain within your budget to avoid financial stress.
Student-to-Faculty Ratio
The student-to-faculty ratio is how many students there are for each individual faculty member in a program. A good student-to-faculty ratio is smaller, preferably less than 20 students for every instructor. This ensures you have plenty of one-on-one learning time, if and when needed.
Accelerated Options
Accelerated options are available to help students complete their programs faster than expected. Where the average master’s degree program will take two to three years to complete, accelerated options allow students to complete their programs within one year.
What Is the Most Affordable Project Management Master’s Degree?
The most affordable Master’s Degrees in project management are:
- Missouri State University’s Master of Science in Project Management
- Granite State College’s Master of Science in Project Management
- Saint Mary’s University of Minnesota’s Master of Science in Project Management
- Lehigh University’s Master of Business Administration in Project Management
- Bellevue University’s Master of Business Administration in Project Management
Salary and Job Outlook for Project Management Master’s Degree Graduates
In this section, we dive into project management master’s degree jobs. We will also discuss the average Master’s in Project Management salary, and what the top-paying jobs are. Read on to find out what jobs you can get, how hard they are to get, and how much you can make with this degree.
How Hard Is It to Get a Job With a Project Management Master’s Degree?
It is relatively easy to get a job with a project management master’s degree. This is because most jobs in this field only require a bachelor’s degree, and the degree is quite versatile. Project management is needed in nearly every industry, which gives you a plethora of jobs to choose from.
What’s the Average Project Management Master’s Degree Salary?
The average salary for someone with a Master’s Degree in Project Management is $76,000 per year. There are great benefits to earning a Master’s Degree in Project Management. A project management master’s degree will increase your salary and add to your professional value. According to the US Bureau of Labor Statistics (BLS), project managers earn an average annual salary of $94,500.
What Types of Jobs Can You Get With a Project Management Master’s Degree?
The jobs you can get with a project management master’s degree are high-paying and in demand. There are jobs available in many different industries, from healthcare to business to tech, making for a vast job market for those with this degree.
Project Management Degree Jobs
- Information Systems Manager
- Director of Product Management
- Construction Manager
- Senior Project Manager
- Operations Manager
Potential Careers With a Project Management Degree
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Highest-Paying Project Management Master’s Degree Jobs and Salaries: Overview
| Project Management Master’s Degree Jobs | Average Salary |
|---|---|
| Information Systems Manager | $159,010 |
| Director of Product Management | $149,832 |
| Senior Portfolio Manager | $125,215 |
| Medical and Health Services Manager | $101,340 |
| Administrative Services Manager | $99,290 |
| Construction Manager | $98,890 |
| Senior Project Manager | $94,509 |
| Senior Business Analyst | $86,796 |
| Program Manager | $86,788 |
| Operations Manager | $68,265 |
Best Jobs for Project Management Master’s Degree Grads
The best jobs for project management master’s degree grads are high-paying and in high demand. Below, we discuss in detail the top ten jobs you can get with a Master’s Degree in Project Management. The following information includes the average salary, job outlook, number of jobs, and the highest-paying states for those jobs.
*Information taken from the US Bureau of Labor Statistics report on General and Operations Managers
Best Jobs According to Your Major
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Is a Master’s Degree in Project Management Worth It?
Yes, getting a Master’s Degree in Project Management is worth it if you are interested in a rewarding career. A Master’s in Project Management would open up job opportunities in multiple industries and allow you to earn a higher salary.
Since a master’s degree is one of the highest levels of education, you’ll be considered for nearly any position that you wish to have in this field. When considering your potential salary, benefits, and overall job satisfaction, it is safe to say a project management master’s degree is worth it.
Additional Reading About Project Management
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Project Management Master’s Degree FAQ
No, you do not have to get a master’s degree to work in project management. Most project managers pursue a bachelor’s degree. However, many reputable companies and senior-level positions do require a master’s degree.
It takes two years to complete your Master’s Degree in Project Management program. However, most universities offer flexibility that allows you to choose an accelerated or slow-paced program. This means you can choose to finish your master’s degree program in as little as a year or as long as five years.
No, studying project management is not hard. While people who have studied project management will have varying answers, most agree that project management is not difficult to learn. However, it does require a certain level of discipline, dedication, and interest to succeed. Luckily, students have many resources available to gain project management skills.
Project management is closely related to technology and many other fields. It spans multiple professional settings and industries. You can choose to work in technology, healthcare, business, production, finance, engineering, and many other fields.
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