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.
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About 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.
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 the 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 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.
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, masters of management studies is affordable without compromising the quality of education. Just like an MBA offers specialization in various subjects, you can also pursue masters 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
The subjects offered can differ based on the university and specialization. Every university has its own syllabus and curriculum. Here are some of the common subjects you will study in masters of management studies:
- Finance and Human Resources
- Business Research Methods
- Project Management
- Strategic Management
- International Business
Candidates interested in masters of management studies have to fulfill the eligibility criteria. Every university has its own 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.
Top International Universities
There are numerous universities and colleges around the world that offer a Master of Management Studies. Some colleges also give you the choice of selecting your own 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
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
Job Profile and Salary
The purpose of pursuing any course is that you are able to build your dream career. Master of management studies will ensure that you land in high profiles jobs earning pretty good. Here are the popular job profiles and salary structure:
|Job Profiles||Salary p.a. in INR|
After getting a degree of masters of management studies 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 masters 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 Master of 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.