Across industries, one type of employee is always essential – those who can successfully plan, coordinate, and execute projects. Earning an online master’s in project management can help students prepare for these roles, which make a median annual salary of $94,500 and are expected to increase by 7% through 2031.
With so many online master’s in project management programs available, choosing the best one can be challenging. That’s why Intelligent.com reviewed dozens of programs based on cost, faculty, retention, and graduation rates and created this list of the best online master’s in project management programs.
Michelle Pickett, director of Northern Illinois University’s Academic Advising Center, also provides her insights into the benefits of a master’s in project management, admissions requirements, concentration options, career outlook, and more.
Online Master’s in Project Management Program Overview
What can you do with a Master’s in Project Management?
With a Master’s in Project Management, you can become a project manager in various industries, leading teams and ensuring project success. Many specialties are at your disposal to help you further hone your skills toward a particular career — like Information Technology (IT), construction and architecture, healthcare, and engineering. Graduates may also work as program managers, overseeing multiple related projects, or become consultants, offering project management expertise to organizations.
According to Northern Illinois University’s Academic Advising Center Director, Michelle Pickett, referring to the Occupational Outlook Handbook, “The largest employers of project management specialists are in the professional, scientific, and technical fields. Other industries that employ project managers are in construction, manufacturing, administrative and support services, and financial and insurance areas.”
By earning this degree, you will gain valuable skills in planning, executing, and controlling projects, becoming a sought-after professional in today’s competitive job market. The versatility of this degree enables graduates to thrive in various sectors of the economy, contributing to organizational growth and efficiency.
How long does it take to get a Master’s in Project Management degree?
The duration to complete a Master’s in Project Management can vary depending on the program’s structure and the student’s enrollment status. On average, most full-time students complete this degree in 18 months to two years. However, some accelerated programs may allow students to finish in as little as one year, while part-time students may take three years or longer to graduate.
Prerequisites
To be eligible for admission, prospective students must have a bachelor’s degree from an accredited institution, preferably with relevant coursework or professional experience. Some programs require GRE or GMAT scores, while others may consider relevant work experience instead of standardized test scores.
Asynchronous vs. Synchronous Learning
Online Master’s in Project Management degree programs are offered in both asynchronous and synchronous learning formats, and both have their merits. Asynchronous learning allows students to access course materials and complete assignments conveniently, providing flexibility for working professionals. Synchronous learning involves real-time interactions, such as live lectures or virtual class meetings, which may require more structured schedules.
How much does a Master’s degree in Project Management cost?
According to U.S. News & World Report, most students pay approximately $21,000 and $38,000 in tuition and fees for their Master’s in Project Management. However, these figures vary widely; some prestigious or specialized programs may have higher tuition fees. In addition, other factors may affect the overall cost, such as your residency status and whether you enroll part-time or full-time.
Residency Status
Residency status refers to whether a student qualifies for in-state or out-of-state tuition based on where they live at the time of enrollment. In-state students usually receive a tuition discount compared to out-of-state or international students — but they must meet specific requirements, such as living in the state where the institution is located for a year or more. The difference in tuition fees between in-state and out-of-state students can be significant, making it more affordable for state residents to pursue an online master’s degree within their home state.
Part-Time vs. Full-Time
Part-time students typically pay per credit at most institutions, ranging from $500 to $975. The total cost of their degree extends over a longer period compared to full-time students, who pay a fixed tuition per semester. This length increase increases the overall cost of part-time study, but it offers greater flexibility for working professionals or those with other significant responsibilities, like parenting or caretaking.
What are the admission requirements for a Master’s degree in Project Management?
While the specific admissions requirements for a Master’s degree in Project Management can vary from one university or institution to another, some standard conditions are typically found across programs.
- Bachelor’s Degree: A completed bachelor’s degree from an accredited institution is a fundamental requirement for admission. The degree may be in any field, but some programs prefer applicants with relevant academic backgrounds, like business or management.
- Academic Transcripts: Applicants must typically provide official transcripts of their undergraduate coursework to demonstrate academic performance.
- Work Experience: While not always mandatory, some programs may consider professional work experience, especially if the candidate lacks a relevant academic background.
- Letters of Recommendation: Applicants may need to submit letters of recommendation from professors, supervisors, or professional contacts who can attest to their qualifications and potential for success in the program.
- Statement of Purpose: A written essay or statement of purpose explaining the applicant’s career goals, reasons for pursuing the degree, and how the program aligns with their expectations is often required.
- Resume or CV: Applicants must usually submit a comprehensive resume or curriculum vitae highlighting their education, work experience, and relevant achievements.
Standardized Test Scores: While some schools may provide waivers or may have adopted test-optional policies, many project management master’s programs require GMAT or GRE scores for applicants to be eligible for admission.
The Top 50 Online Master’s in Project Management Programs
Discover More Options
How we rank schools
For this list, we focused on graduate-level programs, including Master of Science (MS), Master of Business Administration (MBA), and certificate programs. Most programs are general project management degrees, but some are focused on areas like information technology or engineering.
This list includes regionally and nationally accredited programs. Credits and degrees from regionally accredited schools are more widely recognized than those from nationally accredited institutions. It’s important to be aware of what type of institution you are choosing. Some programs also have programmatic accreditation through bodies like the Project Management Institute, the Association to Advance Collegiate Schools of Business (AACSB), and the Accreditation Council for Business Schools and Programs (ACBSP).
We reviewed programs that are delivered online, in-person, and in hybrid formats. We then evaluated each program based on reputation, flexibility, faculty, course offerings, and cost, and gave them an Intelligent Score on a scale of 0 to 100. For a more extensive explanation, check out our ranking methodology.
Project Management Degree Concentrations
Is a specialized Master’s in Project Management better than a general degree?
Whether a specialized master’s in project management is better than a general master’s degree depends on your specific career goals, background, and interests within the field.
A specialized master’s in this field offers rigorous and targeted coursework focused solely on project management principles and practices related to that specialty. For example, a student pursuing a specialized project management degree in construction will have coursework centered around bringing a physical project to the real world. On the other hand, a student specializing in IT project management focuses on digital projects, software development, and infrastructure implementation.
While both of these degrees are in very different industries, the central themes of project management remain key. Pickett says, “While the industries you can work in are extensive, the degree program will teach you to follow a systematic process to achieve specific goals and outcomes within a planned schedule, budget, or other parameters.” For these reasons, a specialized degree may be the better fit for a student with an eye on obtaining a career in a particular industry.
However, a general master’s in project management provides a broader understanding of business management concepts, leadership skills, and various functional areas beyond project management. This versatility can be valuable for professionals exploring diverse career opportunities beyond traditional project management roles.
Ultimately, your decision should align with and reflect your career aspirations. A focused program may be better if you have a clear goal to pursue project management in a specific industry. However, those seeking a broader skill set or flexibility in job prospects might opt for a general project management program.
What are some common Master’s in Project Management concentrations?
Construction Management
Strong leaders passionate about seeing physical projects come to life and interested in the building process may enjoy a concentration in construction management. This field focuses on project management principles and practices specific to the construction industry. Students learn to oversee large construction projects, manage budgets, handle risk, and ensure compliance with regulations.
Information Technology Project Management
Tech-driven students interested in planning, executing, and closing projects will excel in IT project management. This specialization focuses on managing projects such as software development, infrastructure implementation, and system upgrades. Students learn about IT-specific project management methodologies and best practices.
Healthcare Project Management
A concentration in healthcare project management is ideal for individuals interested in pursuing a career in the medical field and improving patient outcomes. This specialization concentrates on managing projects within the healthcare sector, such as implementing new medical systems, constructing healthcare facilities, and managing healthcare-related initiatives.
Engineering Project Management
Detail-oriented students passionate about solving technical challenges enjoy a concentration in engineering project management. Students learn to apply project management principles, tools, and techniques to engineering projects to ensure successful delivery. While these projects can vary in scope, the primary objective is to meet goals on time, within budget, and in compliance with quality and safety standards.
Agile Project Management
Students interested in modern project management methodologies and aspiring to work in a dynamic, fast-paced environment will excel in agile project management. Agile project management is a specialized approach that emphasizes adaptability, collaboration, and iterative development. It is particularly prevalent in software development, but its principles apply to various industries where flexibility and responsiveness are valued.
Career Opportunities for Master’s Degree in Project Management Graduates
Career trajectories
The opportunities for project management professionals are vast and varied. Graduates with a master’s in project management can find high-paying and rewarding careers in almost any industry, with a median annual salary of $94,500 and regular openings in construction, tech, healthcare, and more.
- Project Manager: Becoming a project manager is the most direct career path. These careers can be found in nearly all industries. Project managers are responsible for planning, executing, and closing projects, ensuring they are delivered on time, within budget, and meet quality standards.
- Program Manager: Another versatile career, program managers oversee multiple related projects within an organization, ensuring they align with strategic objectives and contribute to overall success.
- Portfolio Manager: Portfolio managers direct a collection of projects and programs, making strategic decisions about project investments and resource allocation to maximize organizational benefits.
- Construction Project Manager: Construction project managers oversee projects from inception to completion, ensuring compliance with safety regulations and quality standards.
- IT Project Manager: Specializing in IT projects, IT project managers oversee the development, implementation, and maintenance of technology solutions within organizations.
- Healthcare Project Manager: Healthcare project managers supervise projects within healthcare organizations, such as implementing new medical systems or improving healthcare services.
- Engineering Project Manager: Engineering project managers lead engineering teams in various fields, managing the design, construction, and implementation of engineering projects.
Is a Master’s in Project Management degree worth it?
A career in project management is worth it for students seeking a dynamic and rewarding career. With the demand for skilled project managers growing across multiple industries, the Bureau of Labor Statistics predicts over 800,000 job openings by 2031. A master’s degree provides a comprehensive understanding of project management principles, methodologies, and tools, making graduates highly marketable and versatile in their career choices.
The Return on Investment (ROI) for a master’s in project management is typically favorable. Project managers earn competitive salaries, and the higher earning potential with a master’s degree can often offset the initial investment in education. Individuals in management roles earn an annual median wage of $127,140. Comparatively, the median yearly salary for all jobs is $45,760. Project management skills are also transferable across industries, offering increased job stability and flexibility.
Online College/Degree Scholarship Database
Intelligent Scholarship Finder Tool
"A Helping Hand" Scholarship
Award Amount: $500
Due Date: January 31, 2023
"Follow Your Own Path" Essay Scholarship
Award Amount: $500
Due Date: January 31, 2023
"Tuition Solution" Scholarship for STEM Students
Award Amount: $500
Due Date: January 31, 2023
$25k "Be Bold" No-Essay Scholarship
Award Amount: $25,000
Due Date: November 30, 2022
(ISC)² Graduate Cybersecurity Scholarship
Award Amount: $5,000
Due Date: March 6, 2023
(ISC)² Women in Information Security Scholarship
Award Amount: $5,000
Due Date: February 28, 2023
A.C. "Kate" & Leo Joseph Merlone St. Dominic Catholic Church of Saginaw Member Scholarship
Award Amount: Varies
Due Date: February 15, 2023
A.C. "Kate" & Leo Joseph Merlone Teaching Scholarship
Award Amount: Varies
Due Date: February 15, 2023
a/e ProNet David W. Lakamp Scholarship
Award Amount: $5,000
Due Date: January 31, 2023
AAAE Native American Scholarship
Award Amount: $1,500
Due Date: February 27, 2023
How to Choose a Master’s in Project Management Degree Program
Choosing a master’s in project management degree program requires careful consideration and assessment to make sure that your chosen program aligns with your goals and personal circumstances. Determining if learning in a virtual environment is an ideal fit for you is also essential, as online programs are better for some students than others. Pickett aptly states, “Online degree programs are often best for working professionals or those with busy lifestyles looking to add graduate study to their lives.” Indeed, online programs provide flexibility, allowing students to balance other responsibilities — like having a full-time job or parenting — with relative ease.
However, aspiring project managers must reflect on their preferred learning mode. On-campus programs offer interpersonal interactions that foster rich class discussions and face-to-face engagement with professors and peers. “On-campus programs may be better if students want more interpersonal interaction with their classmates and professors,” Pickett observes.
Moreover, evaluating your interests, intended specialties, and long-term career goals is crucial when selecting a program. The curriculum should align with your professional aspirations, providing relevant knowledge and skills that will continue to benefit you for years. Cost is another factor demanding attention. Assessing the overall affordability of the program, including tuition, fees, and potential relocation costs for on-campus studies, is pivotal.
5 Steps to Earning an Online Master’s in Project Management Degree
1. Make sure it’s the right choice
A graduate degree in project management can prepare you for various leadership roles in many industries — but how can you know if it’s the right choice for you?
According to Pickett, it’s essential to ask yourself questions like, “Do I enjoy working with and leading groups or teams of people? Do I enjoy motivating groups of people to achieve a common goal? Would I enjoy running the daily operations of a project to ensure it stays on-task and on time?” If yes, pursuing a Master’s in Project Management may be an excellent fit for you.
Yet, it’s still crucial to consider that a career in project management comes with a unique work environment. “Students must also prepare to enter a fast-paced environment career industry,” says Pickett. “While a graduate degree in Project Management can provide wonderful opportunities for personal and professional growth, it is important to determine if entering a high-demand field is best for them.”
2. Research schools and programs
A comprehensive, organized approach is critical to finding the school and program that perfectly fits your career goals and professional aspirations. “It is imperative for students to fully research programs and determine how their ultimate career will impact their life and lifestyle,” Pickett says. “Researching these programs includes talking with faculty and alumni while understanding the program’s academic requirements.”
Be sure to carefully review each program’s specializations, relevant coursework, and opportunities for internships or practical experiences, as these elements can speak to a program’s overall quality.
3. Prepare for tests and applications
The first impression you make on the admission committee often stems from your application and standardized test scores — therefore, meticulous preparation is essential.
First, determine which standardized tests are required by the schools and programs you’re interested in, like the GRE or GMAT. Then, allocate sufficient time for test preparation. Utilize test prep materials and practice exams available online, and consider enrolling in a test prep course to take your studying to the next level.
Next, organize all necessary application documents, including transcripts, letters of recommendation, and personal statements. Highlight any relevant project management experience in your resume or CV, emphasizing your aptitude for leadership and problem-solving. Lastly, thoroughly proofread all documents for errors and ensure they represent your best work.
4. Determine how you’ll pay for your degree
Many graduate programs carry a high price tag, but there are several ways to alleviate the financial strain of higher education.
Start by exploring scholarships and grants specific to project management offered by organizations, the universities you’re interested in, and professional associations. Additionally, check if the schools you’re applying to provide any additional financial aid or assistantship opportunities. These opportunities can significantly impact your financial well-being over the next several years, so it’s crucial to consider them while looking at schools.
Lastly, submit the Free Application for Federal Student Aid (FAFSA) to determine your eligibility for federal grants, loans, and work-study programs. You can develop a comprehensive financial plan for your graduate education by combining scholarships with federal aid.
5. Select your program
It’s always an exciting time when an acceptance letter arrives. Yet, this also means you must weigh your options to select the program that is the best fit for you.
Revisit each program’s website to assess its flexibility, curriculum relevance, and industry connections. Note the cost and evaluate how your financial plan aligns with each program’s payment structure. Carefully review scholarship opportunities and check to see if they offer any generous financial aid packages.
Consider attending virtual events or campus visits to talk with current students and faculty, as this can lend first-hand perspective and aid in making an informed and well-rounded decision.