Project management is a growing career field, attracting people who are adept at leadership, communication and problem-solving. And while those skills are necessary to thrive as a project manager, you do need certain education and work experience to land a role in the field.
Many people, for example, turn toward a master’s program to help them earn a project manager title — but is this type of degree necessary?
Here’s what to know about master’s degrees in project management, including their necessity, what students gain from them and the real-life work benefits.
What Does a Project Manager Do?
As the name suggests, a project manager oversees the execution of a work project from start to finish. The project manager is the point of communication for multiple teams, creating plans, implementing timelines, confirming budgets, scheduling meetings and more. Essentially, they ensure a company’s project is completed on time, on budget and up to par.
“It’s the facilitator of all things for the company, for lack of better words. We do everything,” said Michael Faia, a faculty member in the online MS in Project Management (MSPM) program at USC Bovard College.
What Education Do You Need to Become a Project Manager?
You will most likely need a bachelor’s degree for any project manager role, although a specific major or concentration is not required. Most people pursuing this field choose to study business, communications, engineering, sociology or information technology (among other options) during their undergraduate studies.
“You find project managers who have come from all different backgrounds,” faculty member Erika Bobbitt confirmed.
A master’s degree is not a requisite to becoming a project manager, but it certainly helps, ensuring students gain the desired skill sets to succeed in the field. It also signals to employers that they have the knowledge and dedication to pursue higher-level positions.
However, some people will choose to opt out of obtaining a master’s degree, instead earning certificates to demonstrate they have the necessary expertise. For example, some jobseekers will go for the PMP (Project Management Professional) certificate or the CAPM (Certified Associate in Project Management).
What Are the Benefits of Earning a Master’s Degree in Project Management?
Securing a master’s degree can provide a major professional boost for aspiring project managers. Students in the MSPM, for example, noted multiple benefits of the program:
Enhanced Understanding. Students walk away with a stronger understanding of what project management entails, including what it takes to thrive in the field.
Skill Development. There are all kinds of skills you need to be a project manager, including managing teams, forecasting budgets, leading meetings and creating presentations. Students learn how to do all that — and more — with a master’s degree.
Increased Confidence. Graduates will likely feel more confident at work after having spent significant time mastering project management principles and engaging in practical, real-world scenarios under the guidance of experienced faculty.
“We’ll teach you best practices, standards and approaches to give you that edge, so you’ll be able to jump in and lead a team in areas that are a little less familiar to yourselves,” Faia said.
Networking Opportunities. A master’s program not only provides valuable learning, but also facilitates connections with other professionals in the field. Students build relationships with peers, professors and the broader school community, enhancing their career prospects.
Demonstrated Commitment. Companies value applicants with master’s degrees because it validates their skills and signals a strong commitment to their field. This qualification also helps candidates stand out from the competition.
“Bachelor’s degrees are becoming more and more common. One way to differentiate in a competitive job market is to hold an advanced degree, and a master’s in project management, particularly one from USC Bovard College, shows employers that you’ve taken the initiative to enhance your skills and can hit the ground running, which can be a tremendous advantage,” Bobbitt said.
What to Expect From a Master’s Program in Project Management
While every master’s program is unique, the faculty at USC Bovard College highlight the online MSPM’s dynamic curriculum, which continually adapts to meet student needs.
“The course content and syllabus are periodically reviewed and updated to reflect the real-world situations. Plus, the course content covers a wider range of industry needs. Based on their background experience and the challenges they face in their current work, students will choose some of the course case studies for their own projects,” said Kaali Dass, a USC Bovard College professor.
The classes also cover a broad range of topics, ensuring students are well-prepared for the diverse challenges they may face as project managers.
“[Students] take classes in business analytics, requirements solicitation, risk management, scheduling and agile methodologies. They have a capstone project where at the end of their Bovard journey, they’re putting all these skills together and they’re managing a project and delivering it as their final submission,” Bobbitt explained.
With a one- or two-year track option, the MSPM offers flexibility, allowing students to balance their coursework with the demands of a full-time career. The online format also attracts a group of students from across the globe.
“Students get a chance to interact with a diverse set of people in the group discussions. It’s not one-size-fits-all. That way, they can augment their understanding of project management principles by learning from each other,” Dass added.
What Is the Job Outlook for Project Managers?
Now is the ideal time to break into the project management field, with numerous opportunities available. In fact, jobs are expected to grow by 7 percent from 2023 to 2033, outpacing the average for all occupations, according to the U.S. Bureau of Labor Statistics.
Plus, project managers are in demand across nearly all industries, including tech, finance, government, entertainment, digital media, nonprofits and health care. This versatility is one of the most desirable aspects of a project management career.
It’s also an occupation that offers competitive compensation: USC Bovard College reports that the median salary for project managers in the U.S. in 2023 was $120,000. (Of course, this number varies based on your experience, the job location and company.)
The Bottom Line
If you enjoy leading teams and overseeing projects to completion, you may thrive as a project manager. While a master’s degree isn’t required to enter the field, it offers significant advantages, such as increased confidence, knowledge, a strong professional network and a leg up in the job market.
Learn more about the online MS in Project Management Program (MSPM) program today.