How Much Does Hospitality Management School Cost?
Hospitality Management School Prices
The hospitality industry encompasses a wide range of leisure and luxury-based service industries. Many who work in hospitality are employed by hotels and resorts, spas, casinos, travel agencies, airlines, and restaurants. Hospitality managers are often promoted from within companies, although some can be hired upon completing a degree in hospitality management. Becoming a high-level manager typically requires multiple years of work experience.
Hospitality Manager Considerations
The hospitality industry is fast-paced and often requires long hours. The competencies needed for management vary depending on the actual position but almost always involve customer-service and working as a team. In other words, the hospitality industry probably isn't the best choice for those who don't enjoy—and excel at—working with others.
Here's what else you should know about working as a hospitality manager:
Salary and Job Prospects
The large variety of hospitality manager positions makes it difficult to generalize about earnings. By looking at salaries for common hospitality management positions, however, it' possible to gain a general sense of what individuals in this field earn.
Lodging managers, for example, earn a median income of $46,810 (source: Bureau of Labor Statistics), while food service managers earn slightly more on average at $47,960 per annum and casino gaming managers make over $65,000 per year.
Strong growth in the leisure and hospitality industry as a whole (43,000 jobs were added in April 2013 alone and the industry has added an average of 29,000 jobs per month since December 2009) bodes well for hospitality management positions. Continued economic growth in the United States and the growth of emerging markets (hospitality has a global reach) may also play a factor in how much people budget for hospitality.
Becoming a Hospitality Manager
Formal training in hospitality management can be obtained through an associate's (two-year) or bachelor's (four-year) degree program. It's additionally possible to earn a master's degree in hospitality management. Some schools allow students to earn their Master of Business Administration (MBA) with a hospitality management specialization.
Anyone interested in enrolling in a course of study should evaluate potential schools not only on merit, but also on relevance to their particular interests. If you know, for instance, that you want to work in restaurant management, look for schools that offer specialization in that field. Schools that offer real-world experience through internships, study-abroad programs, and similar beyond-the-classroom opportunities can be highly valuable.
Hospitality Management School Average Costs
- The average cost (tuition and fees) of a 2-year public school (associate's degree), according to a report by the College Board, is $3,131.
- The College Board puts the average cost of a public four-year college (bachelor's degree) at $8,655 per year (tuition and fees) for in-state students and $21,706 per year for out-of-state students.
- Tuition and fees at a private four-year institution costs an average of $29,056 per year.
- Earning a master's degree in hospitality management starts at $10,000 to $35,000 but could cost as much as $80,000 to $90,000 depending on the institution.
- Financial aid, including loans and scholarships, are available to alleviate student debt burdens. Contact the financial aid department of individual schools to find out what is available. Learn more about getting money for higher education at the U.S. Department of Education website.
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