The article analyzes the main indicators of the current state and prospects of the development of higher educational institutions management, in particular the art profile. There is a negative dynamic of these indicators for domestic universities in the modern Ukrainian society and it shows a downward trend in the future. In comparison with the corresponding indicators of the development of universities in the European and global higher education sector it corresponds to an unsatisfactory level over the last decade. The analysis has identified that there is a lot of the economic effects from the provision and consumption of quality of educational services institutions of higher education on the different levels of the modern society development. At the personal level, this is manifested in growing of the level of wages for holders of higher education, reducing of income inequality for ordinary citizens by implementing a redistribution policy (taxes and transfers). At the level of society as a whole, this is manifested in the interdependence between students' contingent and trends of GDP growth, stimulating producing of innovation, improving overall welfare and social development indicators, building up the country's cultural capital, revitalizing cities and rural areas and enhancing environmental sustainability. Our studies indicated the key trends that characterized the development of modern management system of the higher education institutions with art profile. First of all, it connected with the necessity of increasing and encouraging the development of institutions of the national system of higher education, the identification a real role and place of universities in the total educational environment at the local, national, and global levels. In the article, there are suggested the priority vectors of prospective development of management system of relevant institutions in higher educational area in the long-term. Finally, further transformation and interaction of all the participants of this area (as government, business and higher educational institutions) will determine the nature and directions of future effective development of higher educational management.