Hospitality management is not just an interesting, fulfilling career- it can also be quite lucrative. In ever-growing demand, the hospitality industry is always bustling with new opportunities. However, the best opportunities are often saved for those with the degree to back up their work ethic. A master’s degree in hospitality management could be what gives you the edge over others in the eyes of an employer.
A Growing Demand For Hospitality Professionals
The importance of the hospitality industry to the general global economy cannot be understated. Ranging from food and beverage services to jobs in tourism, there are plenty of roles to choose from if you’re looking to develop your career in hospitality. However, the aftermath of the COVID-19 pandemic and a rise in the use of technology has put a strain on the job market. Therefore, a master’s degree may give you a competitive advantage over other employees, as you would be bolstered by the industry’s latest knowledge.
For example, online booking has become the primary way individuals schedule their stays. This, alongside, review sites and social media, has made the digital landscape of hospitality just as important as the physical site. Individuals who have a competent grasp of these technologies as they continue to evolve will be given the most abundant opportunities to
climb up the hospitality ladder. To gain this knowledge, a master’s degree is an excellent option.
Skills That A Master’s Degree Will Help You Develop
Aside from the achievement of the qualification itself, the content of the degree will prove invaluable. There are many skills, both hard and soft, that can be thoroughly developed through gaining a
master degree in hospitality management.
Leadership
To be in a managerial setting in the hospitality industry, you need a strong sense of leadership. Your skills in conflict resolution will be essential, as there might be disputes between guests and workers as well as amongst the workers themselves. Your conversational and persuasive skills will be frequently put to the test when you’re out in the field, so you need to make sure they are well-honed. A secondary education will, without a doubt, present learning opportunities for you to harness these skills.
Strategic Thinking
Hospitality is an industry that is always changing and developing and could even be described as chaotic. Because of this, you’ll need to be fully prepared to enter and thrive in that environment. While earning your master’s, you’ll be able to make significant growth in your long-term planning abilities, data analysis skills, and ability to make informed decisions. Then, once you’re faced with tricky tasks like hotel administration, event planning, and food and beverage management, you’ll be able to relax knowing that you have the knowledge to deal with it.
Financial Management
Another essential, yet sometimes overlooked, skill you’ll learn getting your master’s is
financial management. Finances play a hefty role in both the day-to-day and overarching responsibilities of a hospitality professional. When you’re pursuing your degree in this field, you’ll learn vital information about budgeting, forecasting, and financial planning. When you can demonstrate to those hiring you that you have a grasp on these technical aspects of the job, you’ll be that much closer to landing your dream position.
Networking
Sometimes, who you know can be even more important than what you know. If you’re attending an accredited university for hospitality management, then you’ll have the priceless opportunity to network with others in the industry before you even graduate. This will keep you up-to-speed on the newest trends and developments in the sector, and might even help you become aware of job opportunities before others. Besides, hospitality management is a social industry, so it makes sense to try and mingle as frequently as you can.
The Return on Investment Simply Adds Up
You might be wondering if, financially, it makes sense to get the extra qualification. While it might be a higher cost upfront, the number of doors that a
master’s degree in hospitality management opens will pay for itself in little to no time at all. Over the course of your career, a master’s will allow you to have much better job security and improved access to high-paying roles. Having more knowledge, connections, and skills for the workplace is certainly worth more financially than the two years it’ll take to earn the degree.
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