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Alternative to an MBA: The Master of Science in Management

Hi everybody,
the MBA is still THE postgraduate education in Management. At least in Europe, however, Master in Business Administration programs face a servere threat by a...

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Master in Management Compass

Hi everybody,

the MBA is still THE postgraduate education in Management. At least in Europe, however, Master in Business Administration programs face a servere threat by a relatively new program: the Master of Science in Management (often called MiM).

In contrast to the MBA, the Master in Management does not require work experience. Similar to the MBA, MiM-programs ususally have a length between one or two years, and about two thirds of the worlwide MiM-programs do not require an undergraduate degree in business or economics. Moreover, on average they are much cheaper than MBA programs.

In Europe, these programs are receiving an increasing demand. This has to do with the Bologna-process by which European countries unify their educational systems. What once has been a 5-years diploma course now follows the Anglo-Saxon Bachelor-Master system. Many European bachelor graduates, however, don't feel comfortable with a 3-years education and want to continue immediately before going to job. The Master of Science therefore is an appropriate option.

Currently, about 85% of the MiM-programs are offered in Europe. But... I wonder, if and when Master in Management programs also find acceptance in the US. Please find more information about the Master in Management on the platform Master in Management Compass (www.mim-compass.com). There you also find a search engine and a database with 280 MiM-programs worldwide as well as an article about the "Difference between MBA and Master in Management" (www.mim-compass.com/MiM-MBA/Difference-between-MiM-and-MBA).

Best wishes

Thomas

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Comments

1 November 2010

Thomas Graf

Hi everybody,

as for WORK EXPERIENCE: the majority of the Master of Science in Management programs does not require work experience. Some, for example the MSc in Management at the WHU - Otto Beisheim School of Management - requires up to 6 months of "practical experience" but primarily this refers to internships. Some programs, I guess less than 10 %, do require work experience.

As for the REPUTATION, I think the same as Jen. The MBA has managed to build a reputation for decades and is well established far beyond the US nowadays. If we just compare the MBA ads every week in the newspapers we know that the MBA today is more than a postgraduate management program - it's a brand. And reading Datar, Garvin, & Cullen's book "Rethinking the MBA" we get a sense of the impact that the MBA - at least of the top-ranked schools - had for career trajectories in the past. There is no doubt that the Master in Management (or MIM) is far away from that.

Nevertheless, it is interesting to notice a change of mind at least in Europe and a more pragmatic approach to education and career: Why waiting for three years of work experience? Where will I be in three years if I do a one-year Master now and work another two years? My impression is that at least parts of the MBA's first-mover advantage will be eroded by MIMs and parts of the international "market" will go to these new students without work experience. Business schools may get an advantage if they get aware of this development early and better cannibalize their own MBA programs by setting up Masters in Management before their competitors do it.

Thomas

MIM does not require work experience? so this program can be a solution for some of our Turkish students. Because in Turkey if we can able to find a job after our undergraduate degree it is difficult to leave our job position after 2-3 years to have a MBA. I will inform about this program to Turkish students. Thank you for introducing this program.

isil tabag

31 October 2010

Not sure MiM will ever have the same prestige as MBA? I guess most MiM students come straight from undergrad, probably with less work experience than MBAs?