Masters in Business Administration vs. Masters in Management: Which Suits You?
Those considering a Masters in Business Administration (MBA) but aren't quite sure it's the perfect fit for their interests should look into the advantages of a Masters in Management (MiM) degree. While less conventional, the MiM is a new and changing degree, offering a variety of specializations and lengths of study. The appeal of an MiM tends to be applicable to a wider audience than are the more cut-and-dry MBAs, and it is coming up in the world of Masters Degrees in business education.
One of the distinct benefits of an MiM for those who have changed their career path between undergraduate work and applications to grad school is that MiMs are a "pre-experience" degree: many MBAs require a background in business for admission. Schools in the United States are taking notice of this up-and-coming degree choice: the Simon Graduate School of Business at New York's University of Rochester and Duke University's Fuqua School of Business are two graduate schools offering the Masters in Management. Applications to Britain's London Business School MiM program rose 22% in 2011. And the flexibility of these programs allows those who aren't sure an MiM is enough to complete their desired level of business education with ease: the Simon Graduate School lets MiM recipients return to earn an additional MBA degree in one year.
For a direct comparison, look to what each degree focuses on. While an MBA tends to be more focused on strategy and leadership, an MiM looks to the details. Students of MiM programs are often praised for their quick learning and ability to analyze. London Business School provides a concise list of benefits to its Masters in Management program, quoted as follows:
- You'll gain a balanced perspective on business, with teaching that combines rigorous academic theory and practical application.
- You'll increase your career options with the programme's strong career and professional development focus.
- You'll be learning alongside students from more than 120 countries in a truly international environment that will prepare you for the business world.
- You'll benefit from unrivalled networking opportunities, gaining access to the School's network of more than 31,500 global alumni.