The combination of alloying elements in the form of a masteralloy (MA) powder gives the possibility to protect oxygen-sensitive elements against oxidation and to promote the formation of a liquid phase that enhances the sintering mechanisms. As compared to the prealloying approach, the MA route has lower impact on compressibility and provides more flexibility in the selection ofthe final composition. Knowledge of the chemical aspects of sintering combined with the possibility to tailor the properties of sintered steels through the use of specific MA compositions and with the development of novel atomizing methods to produce MA powders may, in the near future, position the MA approach as a very interesting alternative to conventional alloying methods. In this work, sintered steels containing cost-effective Fe–Mn–Si masteralloysare processed at increasing temperatures in the range between 1120 and 1300 °C. The combination with different base powders provides a good overview of the properties that can be obtained with this alloying approach. Besides, the evaluation of microstructure and mechanical properties as a function of temperature allow understanding the real benefits of increasing the sintering temperature, in order to find an appropriate balance between the economic requirements and the material performance.