Opting for a master’s degree is a typical path taken by those aspiring to study further after graduation. But selecting the right program for post-graduation should be a thoughtful choice as it must align with your field of interest. MBA is a preferred choice of Management graduates but there are plenty of postgraduate degree programs in Management that can provide you with an enhanced knowledge of various fields. One such postgraduate program is a Master of Management Studies.
This Blog Includes:
- What is Masters of Management Studies
- Why Pursue a Master in Management Studies?
- Scope of Master in Management Studies
- Types of Master in Management Studies Courses
- Master in Management Studies Subjects
- Master in Management Studies Eligibility
- Master of Management Studies (MMS) Vs Master of Business Administration (MBA)
- Master in Management Studies: Top International Universities
- Master in Management Studies: Top Universities in India
- Master in Management Studies Job Profile and Salary
- Master in Management Studies: Admission Process
- Master in Management Studies: Distance Education
- Top MMS Entrance Exams
- Master in Management Studies: Top Recruiters
What is Masters of Management Studies
A Master of Management Studies is a renowned master’s degree program that is often considered as the predecessor of the MBA. The course introduces Management graduates to the diverse realm of leadership and entrepreneurship in an advanced manner. This course has variants such as MSc in International Business, MSc in Management, Master in Business and Economics, Master in International Management, or MSc in General Management. This degree program allows you to tailor the subjects as per your interests to help you customize your curriculum.
|Course Name||master in management studies|
|Eligibility||Graduation in any discipline or equivalent from a recognized university with minimum percentage of 50-55%|
|Admission process||Entrance Exam based on their results.|
|Course Fee in India||INR 50,000 to INR 10,00,000|
|Average Salary||INR 3,00,000 to INR 8,00,000|
|Top Recruiting companies||McKinsey & Company,JP Morgan ,Boston Consulting Group, Merrill Lynch & Co, Philips India Ltd., ITC, Bajaj Auto, Infosys etc.|
|Job Position||Business Manager, Account Manager, Brand Manager, Project Manager, Management Consultant, Investment Banker, Equity Research Analyst, Card Payments Operations Head, Hedge Fund Manager|
Also Read: MBA in UK
Why Pursue a Master in Management Studies?
Master of Management Studies is a relatively new program in comparison to the tried and tested concept of MBA. This degree may last between 10 months to 2 years depending upon the program and university. The program is gaining popularity around the world since its origin in European Countries. Some of the relevant topics covered in this course include Organisational Behavior, Management Theory, and other related topics.
An MMS course is designed to provide a great learning environment and in-depth theoretical classes encompassing a detailed analysis of wide-ranging specializations in Management. However, many of the institutes are trying to get practical experiences included in the curriculum which makes this degree a versatile one. The program also significantly focuses on personal and leadership skills development and is structured to help you develop interpersonal skills, problem-solving abilities, and grasp the application of managerial theories to real-life business situations.
Scope of Master in Management Studies
The area of management has such a broad breadth that earning a master’s degree in management studies opens the door to a wide range of well-paid and professional career prospects both in India and abroad. Students can apply for a variety of high-profile employment in both national and multinational corporations (MNCs). Candidates who complete the course successfully may expect to earn a lucrative and unrivaled yearly income of roughly INR 60,00,000 or even more.
Graduates of Master in Management Studies have a bright future ahead of them; demand for professionals has been increasing steadily over the last several decades. Candidates can pursue additional education in the same sector to expand their knowledge and abilities in addition to choosing profitable employment.
- If students desire to get practical experience in addition to academic knowledge, they should pursue an MBA after completing their MMS.
- Doing an MBA after MMS can also help them earn more money, as MBA graduates earn more money than MMS graduates.
- After completing their master’s degree, MMS graduates might pursue a Ph.D.
Types of Master in Management Studies Courses
Full-time and part-time education are both options for masters in management studies. The course is provided in two formats: regular and distance learning, as well as online. The majority of schools/universities provide the course full-time, although there are a few colleges that offer a master’s degree in management studies via distance education. Students can choose any style of learning that is most convenient for them.
|Full-Time Course||A master’s degree in management studies is often offered as a full-time program, requiring students to physically attend all of the course’s lectures for the whole two-year period until their PG is finished. They’re also expected to complete all project and assignment work, as well as administer all internal evaluation examinations. The master’s degree in management studies focuses on the comprehension and production of cutting-edge designs and systems. Students must present projects that are based on their study on the same topic.|
|Online Course||Some well-known online platforms include Coursera, edX, Skillshare, and others. Many overseas institutions and colleges, in addition to online platforms, provide online courses. Candidates can choose from a variety of popular management-related online courses. It is extremely simple to enroll in these online courses; candidates only need to go to the official website of the course provider, choose their preferred course, and pay the costs.|
The popularity has been rising last few years and the graduates are in higher demand not just in India but abroad as well. The curriculum of the MMS course is focused on international subjects that help students gain knowledge about international business and skills. Unlike MBA, you can get admission in top universities around the world offering masters of management studies with no work experience. The course is not just a general degree course. Students can get specialization in various fields. As compared to other management courses, a master of management studies is affordable without compromising the quality of education. Just like an MBA offers specialization in various subjects, you can also pursue a master of management studies in various fields. Here are the specializations offered by top universities around the world:
- Human Resource Management
- Marketing Management
- Finance Management
- Operations Management
- Information Management
Also Read: Bachelor of Management Studies
Master in Management Studies Subjects
The subjects offered can differ based on the university and specialization. Every university has its syllabus and curriculum. Here are some of the common subjects you will study in master of management studies:
- Finance and Human Resources
- Business Research Methods
- Project Management
- Strategic Management
- International Business
Master in Management Studies Eligibility
Candidates interested in the master of management studies have to fulfill the eligibility criteria. Every university has its set standards of eligibility to be fulfilled by every applicant. Here are the common eligibility criteria for the MMS course:
- Every applicant must have an undergraduate degree in a related field.
- Applicants must have scored 50%- 60% in the undergraduate degree
- For students applying abroad for this course must have GMAT/GRE scores.
- IELTS/TOEFL is also required by the universities abroad
Master of Management Studies (MMS) Vs Master of Business Administration (MBA)
There are several differences between Master of Management Studies and MBA. The basic point of distinction lies in the fact that for Master of Management Studies, you do not need to have years of work experience as one of the admission criteria as compared to MBA admission requirements. An MBA is ideal for students wanting to move forward to the next stage of their career such as those aspiring for advanced exposure into their field of interest or to switch their career fields or to become more qualified for a management or leadership position, among others. Master of Management Studies is also ideal for freshers aiming to make a place for themselves in the corporate world. This course is best for those who want to gain advanced and relevant skills in their career field.
Master in Management Studies: Top International Universities
There are numerous universities and colleges around the world that offer a Management Studies PG degree. Some colleges also give you the choice of selecting your subjects and learning the different managerial skills required for various job profiles. Here’s a list of the top universities offering this program across the globe:
- HEC Paris
- University of St. Gallen, Switzerland
- WHU Otto Beisheim School of Management, Germany
- ESSEC Business School, France, and Singapore
- ESADE Business School, Spain
- Rotterdam School of Management, Erasmus University, Netherlands
- London Business School, UK
- IE Business School, Spain
- Kellogg School of Management, USA
- Duke University the Fuqua School of Business, USA
- UCD Michael Smurfit Graduate Business School, Ireland
- Ivey Business School, Canada
Master in Management Studies: Top Universities in India
If you are not interested in pursuing a course from abroad, Indian institutions also offer this course. Here is the list of top universities in India for the MMS course:
- IIT Bombay
- Jain University
- SRM Institute of Technology
- Bharati Vidyapeeth Deemed University
- Indian Institute of Science
- Indian Institute of Science, Department of Management Studies
- Xavier Institute of Management and Research
- ICFAI Foundation for Higher Education
Master in Management Studies Job Profile and Salary
The purpose of pursuing any course is that you can build your dream career. PG in management studies will ensure that you land in high profiles jobs earning pretty good. Here are the popular job profiles and salary structures:
|Job Profiles||Salary p.a. in INR|
Master in Management Studies: Admission Process
MMS admission is based on the results of the entrance exam, a personal interview, and a group discussion. Aspirants must first pass the appropriate entrance test before applying for admission. Based on their minimum score requirements, the institution chooses individuals for personal interviews and group discussions. Candidates who pass the personal interview and group discussion phase are given a final admission offer.
Master in Management Studies: Distance Education
There are just a few colleges/universities that offer PG degree programs in management studies via distance education. Individuals who enroll in distance MMS classes may learn about the subject from the comfort of their own homes. Distance courses are an option for working people who don’t have enough time to attend sessions regularly. Their curriculum is identical to that of a traditional Master of Management program.
Top MMS Entrance Exams
The top Management Studies Master’s Degree Entrance Exams are listed here.
|Master in Management Studies Entrance Exams|
|MAH CET||NMAT by GMAC|
Master in Management Studies: Top Recruiters
After getting a degree in Management Studies Master’s Degree students can work as investment bankers, project managers, and many other such positions. You can work from banking to the food and beverages sector. Here is the list of top recruiters:
- Axis Bank
- Tata Consultancy Services
- American Express
- Intel Corp
Both courses have their pros and cons. One of the benefits of choosing a master of management studies over an MBA is that students can apply for this course without any work experience.
Popular job profiles include management analyst and consultant, HR manager, industry project manager, etc.
There is only a slight difference between the salaries. However, it depends on various factors such as university, a recruiting company, skills, and experience.
The average salary ranges between $52,300 – $73,900
Hence, a Post-graduation degree in Management Studies will set you apart from those who typically choose an MBA to explore the assorted stream of Management. We hope that this blog answered your questions regarding the essential details of this program. Since this master’s degree course is offered in variants, Leverage Edu experts can guide you in selecting an ideal program that fits your passions towards a managerial field and can light your path to becoming a business leader.