The purpose of this study was to develop a managerial competency model considering the generational characteristics of upper secondary school students. The research was applied in purpose, mixed-methods in nature, and exploratory in design. In the qualitative phase, a grounded theory approach was employed, while the quantitative phase adopted a descriptive–correlational method. The qualitative population consisted of experts in educational sciences in Ardabil Province, from whom 20 participants were selected through theoretical purposive sampling until theoretical saturation was reached. In the quantitative phase, the population included principals of boys’ and girls’ upper secondary schools and upper secondary school students in Ardabil Province. Using a census method, 100 principals were selected, and 100 students were chosen through non-probability convenience sampling. The findings indicated that the proposed managerial competency model, aligned with students’ generational characteristics, comprised several core dimensions: principals’ generational understanding and adaptability; technological and digital leadership; instructional and transformational leadership; participatory management and social communication; learning management and educational quality; innovation and creativity in schools; empowerment and professional development management; crisis management, health, and educational sustainability; human and emotional management; management of justice, diversity, and professional ethics; and strategic and future-oriented school management. The results of model validation demonstrated a satisfactory level of fit and statistical significance (p<0.05). Overall, the findings suggest that effective school leadership requires managerial competencies that are responsive to the generational needs of upper secondary school students. It is recommended that the proposed model be used as a practical and comprehensive framework to guide the development and evaluation of managerial competencies among upper secondary school principals.