By having a graduate degree in hospitality management, you will be involved in ensuring the convenience and comfort of people all over the world. By having an MBA in this field, you will also be able to do this from a business management perspective.
This is an advanced type of degree that increases your understanding of the fundamentals of business, while specializing in the tourism, service, and hospitality industry. You will be able to understand how businesses across the board operate, while at the same time deepening your understanding of hospitality management, including back and front of house management. One particular benefit of this degree is that it prepares you for careers anywhere in the world. Jump to 9+ Hospitality Online MBA Programs for 2017.
Why Earn a Hospitality Management MBA?
There are many reasons why you may want to complete a Hospitality Management MBA degree. One of the greatest reasons, however, is that it significantly increases employment opportunities. Your degree will give you a competitive edge over others, being a leader, critical thinker, and hard worker. If you also happen to know a second language, you will be in even higher demand.
When you have this particular MBA degree, you will have the skills and knowledge required to take on any senior management position in national and international hospitality companies. You can also choose to specialize your skills so that you can focus on business development, management, marketing, or any other element important for this particular industry.
If you are interested in the field of hospitality and you want to take on a management position, then the Hospitality Management MBA degree may be for you. You will learn about the management principles guiding hospitality organizations, which include restaurants, hotels, food service companies, clubs, and so on. You will also be able to take on a range of functions within this industry, including alternative management approaches, key hospitality decisions, lodging, human resources, marketing, accounting, finance, and so on.
Usually, as part of the Hospitality Management MBA program, you will also be able to take part in field opportunities. This means that you may even be able to travel abroad, thereby further increasing your career prospects, as you will have been exposed to international management.
The schools set their own admission requirements, but they are usually quite similar. For instance, those requested at the George Washington University include:
• Having a bachelor’s degree from an accredited institution
• Prerequisite courses
• A minimum GPA
• TOEFL/IELTS for non-native English speakers
Curriculum and Courses
Individual schools are also allowed to set their own curriculum and courses. However, if they are to obtain and maintain accreditation, they have to meet certain specific standards. Hence, looking into accreditation is very important. A good example of a high quality curriculum is offered by UET International, which includes:
• Tourism analysis
• Marketing management for hospitality and tourism
• Financial management for the hospitality industry
• Hotel real estate investment and asset management
• Strategic management and marketing for hospitality and tourism
• Organizational behavior for hospitality and tourism
• Research methods and data analysis for hospitality and tourism
Career Outcomes and Job Titles
Once you have completed a Hospitality Management MBA degree, you will be able to take on any of many specialized careers. Furthermore, because the cornerstone of your education is an MBA, you also have transferable skills and knowledge and you will be able to leave the hospitality industry should your interests develop in a different direction. Some of the positions you could take on include:
• Human resource manager
• Communications manager
• Media manager
• Training manager
• General manager
• Operational manager
• Marketing manager
• Hotel manager
• Hospitality manager
• Restaurant manager
• Cruise director
• Events manager
Job Salary & Outlook
The U.S. Bureau of Labor Statistics (BLS) has reported that lodging managers earned an average annual salary of $49,720 per year with a high school degree. Holding an bachelor’s degree increases average annual salaries by $15,000 per year, and holding an MBA degree does the same. This means that, with an MBA in Hospitality Management, you are likely to earn around $80,000 per year. The BLS has also projected an 8% growth in demand for these professionals from 2014 to 2024, which is faster than the national average.
Scholarships and Grants
• NIAF Scholarship Program, which has been designed to reduce the financial burden that students experience if they want to improve their life by becoming more highly educated after they have experienced setbacks such as loss and trauma. Many past recipients include domestic violence survivors and single fathers. Students in the Greater Los Angeles area are eligible, and they can apply for two individual scholarships each cycle.
• Crain Educational Grants Program, which offers a variety of different programs to graduate students, including re-entry students. Since 2007, they have awarded over $13.6 million. They have different requirements for each of their scholarships.
• Emily M. Hewitt Memorial Scholarship Fund, which honors students who love nature and want to use their degree to improve nature. With eco-tourism on the rise, this is a particularly interesting scholarship for those want to go into hospitality management. The scholarship is to the value of $1,500 and is available to upper division graduate students in California, who can demonstrate a commitment to their education and career, with a specific focus on nature and conservation. Students must be enrolled in an accredited institution and their dedication to the ideals of Emily Hewitt is as important as demonstrating financial need. Applicants must supply a statement of career and personal goals, a resume, and transcripts.
• General Scholarship Program, which is a scholarship founded in 1962. Starting with just $900 worth of scholarships in their first year, they awarded a total of $8.76 million in 2016. They believe that any student should be able to have a graduate education.
• Joseph T. DeSilva Scholarship, which is available for USC students. $20,000 is divided among ten winners.
• Kathy Quadrato Endowment Scholarship, which includes the Early Bird Scholarship for those who put in an application as early as possible.