What is a Masters in Management degree?
We recently announced our partnership with St. Catherine University and are thrilled to be working with a university that has such a strong tradition of preparing women to lead and influence. For our part, CareerPrep will be developing and teaching the career readiness curriculum for St. Kate’s new Masters of Science in Management (MSM) degree that is launching in the Fall of 2018. While common throughout Europe, Masters in Management degrees are relatively new to the United States. So, we thought we would take this opportunity to help you understand what exactly is an MSM degree, how does it compare to an MBA, and why it may be right for you (or your student).
What is a Masters in Management degree?
Depending on the university offering the program and the specific curriculum provided Masters in Management may be found under different names, including Masters in Management (MIM), Masters of Science in Management (MSM), or M.Sc in Management (MScM).
The MSM is a post-graduate degree targeting individuals who have just graduated or young professionals. The MSM layers a foundation of essential leadership, managerial, and comprehensive knowledge about varied management function such as Finance, Marketing, Consulting, Entrepreneurship, among many others. Graduates gain a clear understanding of how a business operates with a significant focus put on leadership skills and personal development.
How does it compare to an MBA?
The MBA is an ideal degree for people who want to take the next step in their careers, this can be in the form of switching career fields, promotional opportunities, securing a higher paying job, or becoming more qualified for a leadership or management position.
An MSM/MIM, on the other hand, is aimed towards people just entering the job market or who have been working for a short period of time. It is ideal for people who want to gain some advanced business skills or want to change from a non-business field to a business one. It allows students to gain relevant skills that the job market desires and put their career on a fast track.
MSM or MIM
- 10-12 months
- Typically new grads
- Designed to launch careers
- Lower tuition (typically half)
- Entry-level employment
- 12-24 months
- Typically experienced professionals
- Designed to advance careers
- Tuition of up to $100,000
- Experienced managerial employment
Is an MSM right for you?
One of the most compelling aspects of the MS in Management is the opportunity it affords students to pursue their passions through their chosen baccalaureate degrees, and then layer essential management education and experience onto their undergraduate foundation. By doing so, the MSM recognizes and affirms the value of the liberal arts while also preparing students for the realities of the workplace – today and in the future.
A recent CareerBuilder survey showed 46% of employers are looking to increase their educational requirements for entry-level positions. The growing demand for graduate degrees, coupled with the projected long-term career benefits, point to the importance of a graduate degree to provide preparation and access to meaningful and rewarding careers. The Graduate Management Admissions Council (GMAC) survey found that 59% of companies across the globe plan to hire recent MSM graduates in 2017.
So, if you (or your college student) are looking to put your career on the fast track through gaining relevant skills that employers are looking for then consider the MSM program. It will provide a way for you to increase your employment options and distinguish yourself in the marketplace.
St. Catherine’s Masters of Science in Management is a 12-month program designed to provide a transformational skill set across key management disciplines. The program places an emphasis on experiential learning in the form of an internship, integrated case studies, applied industry research projects and community focused capstone. The MSM also includes a career readiness curriculum to accelerate employability and professional development of graduates. You can learn more at www.stkatemsm.com