Booth’s first new degree program in 88 years, it is designed for recent undergraduates from any degree background, making it the second pre-experience Master in Management offered by an M7 business school.
Northwestern University Kellogg School of Management also offers a 10-month MS in Management program for students with less than one year work experience.
While other M7 business schools, MIT Sloan School of Management and Stanford Graduate School of business, also offer Masters degrees in management, they are aimed at experienced professionals. The MIT Sloan Master of Science in Management program is only open to students who have completed an MBA at one of Sloan’s partner schools. Similarly, Stanford’s MSx program is an executive level degree.
The Chicago Booth Master in Management program kicks off with a two-week Bootcamp experience in Chicago to start building students’ foundation skills. The hands-on learning includes grasping basic accounting, business, statistics, and economics terms and concepts that students will use frequently in the classroom.
At this point students will also start thinking about their job search by planning their strategy, understanding how to tell their story, and networking.
The program includes five core courses focused on the fundamentals of business: Microeconomics, Financial Accounting, Business Decision Modelling, Behavioral Foundations of Management, and Data Analytics. Students can then specialize in an area of their choice, choosing from Analytics, Entrepreneurship, Marketing, or Strategic Management.
Alongside the core curriculum, students can also take a 10-week course involving career exploration, job search strategy and skills, and gaining self-awareness and interpersonal knowledge. Titled 'Succeeding in the Workplace', it is designed to help students secure a role when they graduate.
“We believe completing the Master in Management program at Booth will enable young professionals to marry their passion—whether it be physics, computer science, art history, philosophy, or other areas of the liberal arts of STEM fields—with management skills that position them for high-impact careers,” said Starr Marcello, deputy dean for MBA programs at Chicago Booth.
Tuition fees for the program will be finalized in April 2024, however they are estimated to cost between $65,000-$67,000. The pre-experience MiM degree at fellow M7 business school, Kellogg, costs $64,842.
As 85% of Master in Management degrees are offered in Europe—where the degree originated—European business schools have long dominated the Financial Times rankings.
Schools that consistently hold the top spots in the Financial Times Master in Management ranking include the University of St Gallen, HEC Paris, and Rotterdam School of Management. In 2022, the top-ranked US business school was Hult International Business School.
However, Booth's new program suggests Master in Management programs are growing in importance in the US.
Applications for the first cohort of Chicago Booth’s Master in Management program open on September 1, 2023.