According to current polls, the state of New York remains to be one of the most popular places to live in the country for young professionals, families, and seniors. With an average cost of living in New York that is 29% above the national average, Master’s in Management degree holders are wise to consider if they can be competitive in the job market while being able to make a living. While the state of New York as a whole reports a monthly cost of living between $2,748 and $8,672, the most expensive city in the state is Nassau-Suffolk with a 56% above national cost of living average, while the least expensive city in New York is Buffalo-Niagara Falls which reports a 12% above the national average cost of living.
Many students are considering top Master’s in Management degrees based on their need to graduate quickly and find jobs that pay adequate to the cost of living that continues to increase across the country. As recently reported, “the main reason for the popularity of the MiM program is that the program fee is only about 50 percent of the fee for a traditional MBA from a reputed b-school. Another reason is that many schools offering the MiM degree do not insist on any minimum work experience as an admission criterion, compared with the traditional MBA course, where work experience is essential.”
One stellar program worth looking into is the 30-semester credit hour Master’s of Science in Management program offered at the Saunders College of Business at Rochester Institute of Technology. Recognition for this degree includes the business school being named the 91st best in the nation by U.S. News & World Report and a nod from the Princeton Review as one of the best universities in the region. With an average early career salary of $72,900 reported by some students upon graduating with a graduate degree, this Master’s of Science in Management is a viable option for the budget-minded graduate student looking for a solid return on the investment of education. The total tuition rate for this program comes in at $52,260. While many business schools offer degrees like this one with fewer hours required and with less-stringent professional experience than a typical Master of Business Administration degree, many employers are interested in new hires equipped with this degree who they view are are young, internationally mobile, teachable, and willing to take risks.
Besides lower costs in tuition, professionals with a Master’s in Management can find lucrative positions throughout the job market. Some of the highest paying positions available to MiM graduates include Human Resources Directors ($55,129 – $141,419), Director of Operations ($76,634 – $128,222), Information Technology Directors (up to $128,126), and Executive Directors ($40,268 – $119,195). Other key statistics worth mentioning within the field of the Master’s in Management is that while 52% of graduates are women and 48% are male. All polled show an “extremely satisfied” rating for this degree, and New York, New York is listed as a popular city for graduates with a salary range of $45,600-$126,871. Other noteworthy careers graduates can pursue with this degree include Advertising Manager, Consultant, Development Manager, General Operations, Public Relations Manager, Sales Manager, and Training Manager.