Project Management Masters Degrees: Best Programs, Job, and Salaries

Project managers are an integral part of the current economic landscape. They work in engineering, production, business, finance, information technology, and healthcare industries. Usually, employers of project managers require only a bachelor’s degree from prospective candidates, but a master’s degree 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 to help you make an informed decision as you decide 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 time. Project managers can oversee both short-term and ongoing projects. Projects such as the development of software, construction of infrastructure, or production of a new product, are all managed by project managers.

What is a Project Management Master’s Degree?

A master’s in project management teaches you how to effectively execute and oversee projects. A master’s degree in project management 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.

Project Management Master’s Degree Requirements

The application requirements for a project management master’s degree program vary between schools. However, most programs require a cumulative undergraduate grade point average (GPA) of 3.0 or higher to qualify.

This program typically takes two years for full-time students to complete, although students in accelerated programs may finish earlier. During the period, students would be required to complete 33-45 credits, which includes core courses and other specializations in project management, such as construction management or IT management.

How Much Does a Project Management Master’s Degree Cost?

The cost of a project management master’s degree program varies based on the institution and location of study.

The average cost of this degree

is 19,314, according to the National Center of Education Statistics. Students living on-campus can expect additional living charges compared to students studying online.

Project Management Master’s Degree Financing Options: How to pay for your project management degree

The best ways to cover the cost of a master’s degree program is 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.

Best Project Management Master’s Degree Programs and Schools: Overview

Best Colleges for Project Management: Top Project Management Master’s Degree Programs

A master’s degree in project management is valuable for anyone pursuing a career or career advancement in project management. Listed below are some of the best program options that were included in the table above.

Master of Business Administration in Project Management | Bellevue University

The Project Management program at Bellevue University provides graduate students with the skills needed to oversee complex projects for a variety of organizations. Their applied learning approach allows students to integrate real-life business scenarios into the learning process. Students also benefit from their strong professional network after graduation.

Master’s of Science in Project Management | Boston University

Boston University offers master’s degree programs in project management and IT project management. Students may choose to specialize in Agile project management or program and project portfolio management depending on their long-term career goals.

Master of Business Administration in Project Management | Brenau University

Brenau University offers a world-class interdisciplinary project management degree program that equips students with the skills needed to assume project management responsibilities in a wide range of organizations. The program also prepares students for Project Management Institute (PMI) certifications.

Master of Science in Project Management | DeVry University

Keller Graduate School of Management at DeVry University offers a master’s degree program in project management. It includes core courses on principles of project management, such as planning, budgeting, leading, and executing projects. Students can also choose to learn through their online or hybrid format.

Master of Science in Project Management | Granite State College

Granite State College’s postgraduate program for project management provides a quality and effective learning pathway for students. The program focuses on expanding students’ perspectives and skills to work in modern settings. Students learn to oversee complex projects while achieving cost-effective results.

Master of Business Administration in Project Management | Lehigh University

Lehigh University’s master’s degree program in project management prepares students to learn how to conceptualize, manage, and implement strategies for complex projects. The curriculum emphasizes conflict resolution, sustainability, and leadership skills to help students succeed in the field of project management.

Master of Science in Project Management | Metropolitan College of New York

The project management postgraduate program is developed for people who want to advance their career in project management. Students develop core competencies in fundamental project management concepts, such as resource allocation, decision sciences, risk management, cost management, and managerial finance.

Master of Science in Project and Program Management | Saint Mary University of Minnesota

The project management master’s degree program at Saint Mary University of Minnesota equips students with the required skills and tools to manage teams in a variety of complex projects. The coursework addresses modern workplace needs and explores effective management practices.

Master of Science in Project Management | The Missouri State University

The Missouri State University offers a project management master’s degree program that is ideal for people wanting to advance their professions in project management. It equips students with hard and

soft skills

to manage complex projects while meeting execution requirements.

Best Online Project Management Master’s Degree Programs and Schools: Overview

Best Colleges for Project Management: Top Online Project Management Master’s Degree Program

Online project management master’s degree programs are ideal for students who want to advance their education but want more flexibility and convenience than on-campus programs offer. Listed below are some of the best online master’s degree programs taken from the table above.

Master of Science in Project and Program Management | Brandeis University

Brandeis University is ranked as having one of the best online learning postgraduate programs in the world. The project management master’s degree program at Brandeis University will help you develop project management theories and understand global industry tools and techniques.

Master of Science in Project Management | Colorado State University-Global Campus

The Master’s degree program at Colorado State University focuses on economic growth and teaches students to leverage global opportunities and strategies. The program is also accredited by the Global Accreditation Center for project management education, allowing students to qualify for Project Management Institute (PMI) certifications.

Master of Science in Project Management | Embry-Riddle Aeronautical University, Daytona Beach

The master’s degree program for project management offered by Embry-Riddle Aeronautical University allows students to enhance their competencies and develop skills that will enable success in their project management careers. The course is designed to prepare online students to manage large-scale businesses and lead complex projects.

Master of Science in Project Management | George Washington University

Through the online master’s degree program in project management offered by George Washington University, students are given practical tools to elevate their knowledge and expertise, allowing them to thrive in project management. Students learn essential skills in project leadership such as how to make organizational goals or design a risk management plan.

Master of Program in Project Management | Northeastern University

Northeastern University’s project management master’s degree program is designed to advance the knowledge and skills of students advancing or wishing to pursue a career in project management. It takes 12-18 months and equips students with practical skills and theoretical knowledge needed to manage the variety of duties related to the profession.

Master of Science in Project Management | Penn State University

Penn State is a Project Management Institute (PMI) and Registered Education Provider (REP). Their master’s degree in project management is focused on business and industry. This 30-credit graduate program teaches students to engage and understand the fundamental theories of global businesses and how to manage complex multifunctional projects.

Master in IT Project Management | Purdue Polytechnic Institute

Purdue Polytechnic Institute provides an online project management graduate program that is designed to develop students’ project management skills through the introduction of modern tools and techniques. They offer extremely flexible program schedules to help working professionals access education and become project leaders.

Masters of Business Administration in Project Management | Saint Leo University

Saint Leo University’s project management master’s degree program is designed to meet the needs of businesses across the globe. This program seeks to transform project management practices by preparing students for evolving business environments. It focuses on innovative project managing practices for selecting, initiating, planning, monitoring, and closing projects

Master of Science in Technology Project Management | University of Houston

University of Houston’s Master of Science in Technology Project Management program is specifically designed to prepare students for technology-related project planning. Their admission process requires a 3.0 grade point average (GPA), three letters of recommendation, a personal narrative statement, and a proven understanding of statistics.

What is the Average Project Management Master’s Degree Salary?

There are great benefits of 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 $84,290.

Top Project Management Master’s Degree Jobs and Salaries: Overview

Best Project Manager Master’s Degree Jobs Explained

Director of Product Management

• 
  Average Salary
  
  : $174,379
• 
  Job Outlook
  
  :
  
  8%
  
• 
  Number of Jobs:
  
  148,895
• 
  Highest-Paying State:
  
  Washington DC, Maryland, Virginia, New York

The director of product management plans and implements the product business cycle. They direct and oversee product development operations within an organization, through collaborating with product managers, organizing department collaborations, and contributing to policy and procedural decisions.

Informations Systems Manager

• 
  Average Salary
  
  : $151,150
• 
  Job Outlook
  
  :
  
  11%
  
• 
  Number of Jobs:
  
  482,000
• 
  Highest-Paying States
  
  : California, New York, New Jersey, Virginia,

Information systems managers direct and oversee all computer-related activities in an organization. They analyze the organization’s technological needs to create goals and recommend solutions to meet those goals.

Program Manager

• 
  Average Salary
  
  : $137,475
• 
  Job Outlook
  
  : 8%*
• 
  Number of Jobs:
  
  135,324
• 
  Highest-Paying States
  
  : Wyoming, Massachusetts, Montana, Arizona

Program managers monitor project progress, improve business strategies, and coordinate various projects to meet the enterprise goals. They also collaborate with project managers for the timely completion of projects.

Senior Project Manager

• 
  Average Salary
  
  : 116,873
• 
  Job Outlook
  
  : 8%*
• 
  Number of Jobs:
  
  144,341
• 
  Highest-Paying States
  
  : Washington, New York, New Hampshire, California

Senior project managers are responsible for the planning and execution of projects through effective budgeting and planning. Their duties include providing feedback, meeting deadlines, communicating with clients, and overseeing teams and steps throughout a project.

Operations Manager

• 
  Average Salary:
  
  $107,680
• 
  Job Outlook
  
  :
  
  8%
  
• 
  Number of Jobs:
  
  2,704,400
• 
  Highest-Paying States
  
  : New Jersey, Connecticut, New York, Washington DC

Operations managers are responsible for implementing, managing, and planning projects to ensure that organizations meet their professional goals. Their duties include meeting with staff, developing long-term strategies, analyzing the project, and overseeing collaborations between departments.

Medical and Health Services Manager

• 
  Average Salary
  
  : $104,280
• 
  Job Outlook
  
  :
  
  32%
  
• 
  Number of Jobs:
  
  429,800
• 
  Highest-Paying States
  
  : Washington DC, New York, Hawaii, California

Medical and health services managers direct and oversee medical activities in a health facility. They work with physicians, surgeons, laboratory technologists, and other health workers to provide health services that meet set standards.

Administrative Services Manager

• 
  Average Salary
  
  : $98,890
• 
  Job Outlook
  
  :
  
  9%
  
• 
  Number of Jobs:
  
  322,000
• 
  Highest-Paying States:
  
  New York, New Jersey, Rhode Island, Delaware

Administrative managers are tasked with planning, directing, and coordinating activities to ensure the smooth and successful operation of an organization. They formulate policies and change procedures to improve operations.

Senior Portfolio Manager

• 
  Average Salary
  
  : $89,714
• 
  Job Outlook
  
  : 8%*
• 
  Number of Jobs:
  
  37,478
• 
  Highest-Paying States
  
  : Washington DC, Maryland, Virginia, New York

Senior portfolio managers work with individual, as well as corporate and institutional clients to identify the best investment decisions for them. They collaborate with analysts from investment companies and banks to utilize their statistical analysis skills throughout the investment process. They also conduct market research to ensure minimal financial loss and maximum profit.

Senior Business Analysts

• 
  Average Salary
  
  : $87,660
• 
  Job Outlook
  
  :
  
  14%
  
• 
  Number of Jobs:
  
  124,400
• 
  Highest-Paying States
  
  : New York, Massachusetts, New Jersey, Washington DC

The senior business analyst creates cost-effective ways to improve an organization’s operations. They recommend new systems and solutions for project execution and make observations about methods and equipment.

Construction Project Manager

• 
  Average Salary
  
  : $83,107
• 
  Job Outlook:
  
  
  11%
  
• 
  Number of Jobs:
  
  448,000
• 
  Highest-Paying States:
  
  New Jersey, New York, Delaware, California

A construction project manager directs the operations of the construction site to ensure productivity and time efficiency. They coordinate with architects, contractors, and clients to deliver results in accordance with agreements.

*Job outlook information from BLS report on management occupations.

Project Management Bootcamp vs. Project Management Master’s Degree: Which is Better?

Many graduates are torn between choosing a project management bootcamp or a master’s degree program. They are both great ways to kickstart your career in project management and they each offer benefits that are unique to their format.

Benefits of a Project Management Master’s Degree

• 
  It’s a reputable way to advance your career.
  
  Master’s degree programs are one of the highest levels of education and are acknowledged globally. This makes master’s degree holders a valuable and desirable candidate for nearly any position within project management.
• 
  It opens up many opportunities
  
  . Getting a master’s degree in project management provides you with a wide range of options to explore. With a master’s degree, you can enter any industry, and are eligible for nearly any position related to project management.
• 
  It makes you eligible for a PhD program.
  
  If you are interested in a PhD program for professional or personal reasons, you’re eligible to apply, as a master’s degree is a prerequisite of most PhD programs.
• 
  It qualifies you for the PMP certification
  
  . Passing the Project Management Professional (PMP) exam is a great bonus for you as a project manager. With the PMP certification, you can earn a higher salary and qualify for advanced opportunities within the field.

Benefits of a Project Management Bootcamp

• 
  They offer immersive courses.
  
  A
  
  project management bootcamp
  
  covers every element and essential skill needed to help you become a professional project manager. This is especially useful for bachelor’s degree holders who want to advance their career, but don’t want to pursue a master’s degree.
• 
  You learn from a real-world perspective.
  
  Most bootcamps for project management use real-world projects for you to learn from and practice with. They primarily focus on real-life application and prepare you for situations that you can expect to surface in the workplace.
• 
  They’re affordable.
  
  Bootcamp prices range depending on the provider, course, location, format, and other relevant factors. However, overall they’re usually relatively affordable and offer different payment accommodations.
• 
  They stay updated.
  
  Bootcamps programs are regularly discontinued according to relevance. Once certain skills or knowledge become outdated, bootcamps either make curriculum changes or discontinue the course. This means you’re guaranteed to receive a relevant and updated education.

Should You Get a Master’s Degree in Project Management?

Yes, getting a master’s degree in project management is highly rewarding. A master of project management would open up job opportunities in multiple industries and will allow you to earn a higher salary. As a master’s degree is one of the highest levels of education, you’ll be considered for nearly any position that you wish to assume in this field.

Project Management Master’s Degree FAQs