Five Key Questions To Ask Before Investing In A Master’s In Management Degree

Is a master’s in management degree the right next step for you? And how could this path impact your career trajectory? 

The Master of Science in Management (MSM) at the University of Illinois Gies College of Business is a STEM-designated program designed specifically for learners with undergraduate degrees outside of business. Tuition for the 9-month, on-campus program is $35K for US residents and $47K for international students.

We spoke with Tiffany White, Professor of Business Administration and Academic Director of the MSM Program at Gies Business, and Kristina Wright, Gies Director of Career & Professional Development to get their insights. They say there are five things to consider before making your decision:

1. Developing essential skills
Q: How does the program adapt to students with non-business backgrounds?

TIFFANY WHITE: Whatever your undergraduate major – psychology, communications, engineering, or something else – the Gies MSM program builds on your existing expertise. The curriculum covers business fundamentals, communication strategy, experiential learning opportunities, with electives tailored to your interests and career goals. You’ll learn to collaborate with teammates and clients, tackling ambiguous problems that mirror the challenges business leaders face. 

KRISTINA WRIGHT: You’ll develop essential skills – communication, critical thinking, and teamwork – that will set you apart from your peers. The curriculum is designed to help you effectively use technology and expand your knowledge in an increasingly AI-driven world. 

2. Bridging the gap
Q: How does the MSM program develop my leadership, strategic problem-solving, and analytical skills?

WRIGHT: A recent report from the Graduate Management Admission Council (GMAC) reveals corporate recruiters highly value candidates with strong problem-solving, critical thinking, and people skills. They’re also looking to hire more graduates with data and business analytics expertise. If your undergraduate major didn’t focus on these critical business skills, the Gies MSM degree will help you bridge that gap. 

WHITE: Think of the program as a learning lab, where you’ll collaborate with real clients who are invested in your team’s insights. This program’s faculty are carefully selected for their ability to break down complex topics into easily digestible concepts for students from non-business backgrounds. We’re not training you to be accountants or finance practitioners. Instead, we show you how these disciplines function in a business context and how to partner with others to make sound managerial decisions. You’ll learn frameworks that will help you integrate information and become a more effective problem-solver within any organization. 

3. Career Advancement
Q: How will the MSM degree differentiate me from my peers and position me for my first job or future promotions?

WRIGHT: GMAC data shows that employers recognize business school graduates outperform their peers, are often fast-tracked to leadership positions, and typically earn more. 

Many domestic students come to the program seeking a more complete point of view about their career options. For international students, this STEM-designated program offers a pathway to gaining experience with multinational companies.

 We’ve designed a course to support you through your journey. We work closely with you on personalized career exploration and development, helping you define your purpose and create a plan to use your newly acquired skills and talents to land your next job or promotion.

WHITE: Our goal is to help you turn your unique background into distinct value in the marketplace. Historians. Biologists. Music majors. An MSM degree can be a powerful multiplier that infuses business knowledge into your chosen profession. We’ll teach you how to integrate your skills and passions into a business setting and make increasingly complex decisions based on solid business fundamentals.

4. Return on Investment
Q: How does an MSM degree impact my earning potential and compensation growth?

WHITE: An MSM degree connects you to the influential Gies and University of Illinois alumni network, opening doors to upward mobility across various industries. You’ll be positioned to advance more quickly as businesses increasingly focus on skills-based promotions. 

WRIGHT: Throughout the program, you’ll gain broader exposure – and potential internship and job opportunities — to companies of all sizes. Our MSM graduates with a non-business bachelor’s degree report a starting salary of $69,355.

5. Maximizing the experience
Q: How can I get the most out of this on-campus learning experience?

WHITE: While it’s important to evaluate the learning outcomes of a master’s degree, also consider how you’d fit into life on campus in Urbana-Champaign, IL. As an Illinois graduate myself (bachelor’s and master’s in advertising), I went on to earn a doctorate degree in business administration before returning to campus in 1999 to teach at Gies Business.

I can tell you from more than 30 years on campus, the Gies learning environment uniquely fosters meaningful interactions with world-class faculty and collaboration with students from around the globe. 

WRIGHT: You can also explore leadership opportunities within more than 1,000 registered student organizations, from entrepreneurship to fashion. For those curious about a career in consulting, there are programs such as the iVenture Accelerator (an innovation program for student-led startups) and Illinois Business Consulting, the largest student-run consulting organization in the US. 

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Learn more about the Master of Science in Management (MSM) at the University of Illinois Gies College of Business: giesbusiness.illinois.edu