The Master in Management degree, or sometimes a Master of Science in Management (MSM), is a relatively new postgraduate qualification. It is rising in popularity for younger graduates, as it requires less business experience than a traditional Master of Business Administration (MBA). Because of this, master in management degree programmes are designed to provide students with a foundation in the fields of business and management. Students on a master in management (MiM) degree will be from a diverse academic and professional background, with some having a wealth of business experience, and others having education based experiences. You will be able to kickstart your business career by developing important skills such as leadership and business strategy, among others.
A master in management degree will cover a wide range of business topics, and the specific content will depend on the course you choose. Students will be able to explore management concepts such as managerial economics, financial management, leadership and organisation, and strategic management.
Your course will be delivered in a mixture of modes. These will include lectures and seminars, as well as group discussions and debates. You may also have the chance to take part in practical activities. These may be in your lessons, or as a placement with a separate company. Participating in a placement with a company will not only allow you to develop your skills in a real working environment, it will also give you the chance to start building your contacts in the business world.
Depending on where you choose to study, you may be able to specialise within your degree, meaning that you will be studying a certain area of management. This will allow you to have a developed knowledge of a favoured field. Common specialisations include:
Your course may require you to write a dissertation or thesis. This is an opportunity to further research in an area of management you are interested in. Some degree programmes may require you to undertake a group or individual project instead of a pure research assignment. If you have a preference, you should make sure you know what options your course offers.
The accreditation of a master in management degree will depend on which country you study in. Some courses in the UK will award an MiM or MSM (depending on the content of your course), but because different countries have different accreditation systems and recognise different awards, some international institutions may award you an MSc or MA. You should check each institution to see what award you would gain. You should also be aware of how the accreditation of your degree may affect your career options. When gaining a postgraduate degree in a competitive field, some employers may prefer you to have a certain award or certificate.
Generally, a masters in management degree will take one to two years when studied full-time. If you wish to study part-time, your degree will be spread over a longer period of time. It is common for students to complete a masters in management degree alongside continuing their normal job, so universities are normally flexible with part-time study.
Once you have successfully completed your degree, you can either seek employment in your chosen field, or further your studies. You may choose to continue your studies with an MBA or PhD, or a graduate diploma or certificate. If you wish to study an MBA programme, but do not have the work experience required, an MiM degree is the perfect precursor.
The entry requirements for a master in management degree will vary from institution to institution. Typically, you will be expected to have an undergraduate degree in a relevant field. Some universities may accept an undergraduate degree in any discipline. If you have relevant previous work experience, this may be considered as an alternative to a degree.
When applying, your institution may also take into consideration scores from a GMAT or GRE test, as well as letters of recommendation, letter of intent or an application interview. Some universities may offer for prospective students to take the GMAT or GRE tests on campus, as part of a pre-sessional course.
If you do not meet the entry requirements you may want to consider a pathway course.
Tuition fees will depend on where you choose to study. Fees can vary greatly from institution to institution. You should be aware of how much your course will cost you. It is common for scholarships to be offered for postgraduate business focused courses. There may be scholarships or funding available for students from companies, with the conditional offer of employment after graduation.
Visit our scholarships and funding section for more information about where you can get a scholarship or funding from, as well as how to apply and what to do next.
Graduates of a master in management degree will be able to choose from a wide range of career options. Popular destinations include consultation, financial services, and consumer and luxury goods. There are also opportunities in manufacturing, entrepreneurship and advertising. Roles tend to be in middle and senior management, across a variety of sectors and organisations.
For example, you could become a general manager, responsible for the running of a department or departments, or maybe an entire organisation. You will deal with company targets, the efficiency and satisfaction of your workforce, and the management of resources to improve your organisation. You may also work in a management consultancy firm, where you might work with several different companies or organisations, helping them to improve their business. You will be able to apply your knowledge to a variety of situations, meaning you are constantly challenging yourself and developing your skills.
You will gain many useful and transferable skills during your degree. These will mean that you would be an asset to an organisation, no matter what role you choose. Skills gained may include oral and written communication, project management, strategic and analytical thinking, and financial understanding.
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