Should I Consider a Master in Management or Master in Management Studies?

August 16, 2024

Are you a liberal arts or engineering major who is interested in accelerating your career in business? Did you miss out on taking introductory courses that would prepare you for roles in consulting, banking, or general management? Are you an international student who wants to mitigate risk as you look to secure your first job out of university and ideally stay in the United States? Or did you complete your undergrad studies outside of the United States and hope to make a change in geography as you start your career?

If you answered “yes” to any of these questions, you might consider a Master in Management (MiM) or Master in Management Studies (MMS) degree. These early-career, pre-experience master’s degrees prepare you to pursue entry-level roles in business. With a greater understanding of the fundamentals of business and enhanced soft skills, you will be well qualified for positions that your peers who majored in business, finance, or economics secured directly out of college. Think of these degrees as a post-graduate year in business! If you have fewer than two years of work experience since earning your undergraduate degree, you may be eligible for some MiM or MMS programs.

An MiM or MMS will provide you with the intellectual and professional skills to accelerate your career in business. These programs have existed for years in Europe, where HEC Paris’s Master in Management is the standout. The program has recently gained traction in the United States. The newest addition to this field of programs is Chicago Booth’s Master in Management (MiM), which will matriculate its first cohort in the fall of 2024.

As you decide whether a master’s degree in management is right for you, consider the following questions:

Who typically gets this degree?

A master’s degree in management prepares non-business undergrad degree holders to secure entry-level roles in business. Most MiM and MMS programs require applicants to have a four-year, non-business degree. MiM programs tend to be geared toward early-career or immediately post-undergrad candidates, and they often accept applicants with a maximum of two years of post-undergrad work experience.

Most MiM and MMS programs are STEM (science, technology, engineering, mathematics) designated, which can provide additional opportunities for graduates to work in the United States through a STEM Optional Practical Training (OPT) Extension. A STEM-designated program is an academic program that falls within at least one of the approved categories from the US Department of Homeland Security. International graduate students are chief beneficiaries of the designation because it allows them to work in the United States for up to three years after graduation without an H-1B visa—compared to one-year stays for graduates of non–STEM-designated master’s programs. The additional time enables graduates to gain valuable extended training through work experience.

If your undergraduate degree was not STEM designated, you might apply to MiM or MMS programs during your one year of postgraduate work and then return to school to enhance your skills and credentials in order to spend more time working in the United States.

How are programs structured?

MiM programs are typically offered full time, are immersive, and take place on campus. Most programs at US business schools are held over ten to twelve months and begin in the summer, shortly after university graduation. The majority of MiM programs have a standard business curriculum covering accounting, finance, operations, marketing, strategy, and economics. Many offer robust courses in leadership development and career readiness along with real-world projects to test classroom learning. Some programs boast concentrations or tracks that focus on finance, analytics, or marketing to provide a more targeted experience.

Application Requirements

Deadlines for full-time programs generally start in the fall (October/November) and extend through the spring (March/April), with multiple rounds. Most programs require essays, a standardized test score (GMAT or GRE), a resume, undergraduate transcripts, and one or two recommendations. International candidates may be required to submit a test of English proficiency such as the TOEFL or IELTS. Interviews are offered to select applicants and are often required for acceptance. Some programs waive standardized testing requirements for current undergraduate students at the program’s university or applicants whose undergraduate GPAs exceed a minimum threshold.

Here are details on the application deadlines, curricula, and class profiles for some master’s degree in management programs:

Duke Fuqua’s Master of Management (MMS) offers two program options (Durham, NC, or both Durham and Kunshan, China) and four deadlines starting in October. All students take the same courses throughout the ten-month program. For the Class of 2024, the Durham cohort has roughly 250 students from two dozen countries, with just under half women. Meanwhile, the Kunshan cohort is much smaller at approximately 60, with more than 50% women and only five countries represented. The Durham-based MMS program has the STEM designation.
Chicago Booth’s Master in Management (MiM) has four deadlines starting in October. The program consists of five core courses, after which students can choose to specialize in Analytics, Entrepreneurship, Finance, Marketing, or Strategic Management. MiM students may take electives with Booth MBA students. All students participate in Boothcamp at the beginning of the program and take “Succeeding in the Workplace” to prepare for job placement and success. MiM is a STEM-designated program, and graduates are eligible to apply for Booth’s Accelerated MBA program in the full-time or part-time format.
University of Virginia McIntire’s Master of Science in Commerce has five deadlines starting in October. Students can select tracks in Biotechnology, Business Analytics, Finance, or Marketing & Management. All students complete a three-week global immersion experience. The Class of 2024 has roughly 125 students, with approximately 40% women and about 20% international students. More than half of the Class of 2024 attended UVA for undergrad. This is a STEM-designated master’s program.
Northwestern Kellogg’s Master in Management (MiM) has four deadlines starting in October. Students take classes in downtown Chicago, not at Kellogg’s global hub in Evanston. The top 25% of Kellogg’s MiM graduates are offered deferred enrollment for the school’s One-Year MBA program. Like all of Kellogg’s programs, the MiM carries the STEM designation.
Michigan Ross’s Master of Management (MM) has five deadlines starting in October. After taking core classes, students complete an action-learning project while taking electives. The Class of 2024 comprises roughly 150 students, the majority of whom are women, with just over 10% international students.
Georgetown McDonough’s Master of Science in Management (MiM) has six application rounds, including an Early Application deadline in October. MiM students take all of their classes together to create a highly collaborative cohort. More than half of the Class of 2024 are international students, and roughly half are women. The MiM is a STEM-designated degree with a focus on tech and innovation, culminating in a hands-on global consulting project.
Notre Dame Mendoza’s Master of Science in Management (MSM) has four application rounds ending in March. The 11-month program offers specializations in Finance and Marketing and culminates in an immersive learning experience through Grow Irish Week, when students work with businesses and organizations on real-world challenges. The Class of 2024 consists of approximately 75 students, of which just under half are women and 15% are international students. This program carries the STEM designation.

The popularity of pre-experience business master’s programs continues to grow, with more opportunities available each year, including the following:

Where will you work after graduation?

A significant component of MiM programs is career support. Most programs offer personalized guidance to supplement formal recruiting. MiM, MM, and MMS students start in a variety of entry-level business roles across industries in consulting (Accenture, Deloitte, EY, PwC Strategy&), technology (Amazon, Google, Microsoft, Oracle, Samsung), consumer packaged goods (Clorox, Johnson & Johnson, PepsiCo, Unilever), manufacturing (Cummins, General Motors, Schneider Electric), investment banking (Goldman Sachs, JPMorgan Chase, Morgan Stanley), and finance (American Express, Bank of America, Capital One, Wells Fargo). Since these programs are typically offered through the business schools, master’s degree in management candidates have access to similar career resources as MBA students such as recruiting workshops, career coaches, alumni databases, and targeted career treks.

Why would I pursue an MiM, MM, or MMS instead of an MBA?

An MBA and a Master in Management are not mutually exclusive. Many MiM, MM, and MMS graduates work for several years at an accelerated pace—thanks to their additional training—and then become successful applicants at top MBA programs. And some top MBA programs offer accelerated MBA programs such as Northwestern Kellogg’s One-Year MBA and Duke Fuqua’s Accelerated Daytime MBA for candidates who hold an MiM, MM, or MMS. If you are a current undergraduate or just starting your career, an MiM, MM, or MMS program would be a better option, as most MBA programs require a minimum of three years of work experience.

The Stratus team is knowledgeable about not only MBA degrees, but also other specialty business master’s programs such as MiM and MM. Sign up for a free one-on-one consultation with one of our experienced counselors today!

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Chicago Booth School of Business Duke Fuqua Georgetown McDonough School of Business HEC Paris Master in Management master in management studies Michigan Ross School of Business MiM MMS Northwestern Kellogg