Masters in management
Master in Management courses, (abbreviated to Ma, MSc or MSM) is an academic degree that is common throughout the UK, USA and Europe. It is similar to the MBA degree, and often requires a dissertation before a graduate is admitted to it.
Students following a Masters in Management course will commonly study the following subjects:
- Business Ethics
- Marketing and Branding
- Corporate and Business Strategy
- Engineering management
- Finance Management and managerial accounting
- Human Resources Management and organisational behaviour
- Management Theory
- Marketing or Marketing Management
- Operations Management and supply chain management
- Personal student dissertation (thesis)
Comparison to MBA
The MSc in Management degree studies the academic discipline of Management, while the MBA degree studies the academic discipline of Business Administration. Thus, the MSc degree focus on research in a specialized area , while the MBA degree would place more emphasis on strategy.
The MSc in Management is an academic degree with no requirements for previous job experience, while the MBA is a professional degree for persons with minimum 2-3 years job experience. The MSc degree is more theory-oriented, while the MBA degree is more practice-oriented. While this in some sense means that the MSc degree prepares students for entry into the academia and the MBA prepares them for managerial positions in the industry, in reality both degrees contain strong professional focus and are both very well suited for students wishing to gain positions in the industry. Likewise, the MBA degree is based on established academic theory, and could be the basis for a career in the academia.
The MSc in Management degree is best suited for new graduates holders of a Bachelor's degree in any discipline with no work experience, while the MBA degree is best suited for graduates with some work experience, preferably in supervision or management.
Persons admitted to the degree of MSc in Management are entitled to add the designation MSc after their names (eg John Smith MSc), while those holding an MBA can add the designation MBA (eg John Smith MBA). People reading curriculum vitae documents readily recognise the MBA designation, but the MSc designation may be assumed to be in a non-business area, eg in science or engineering, so holders of MSc in Management should make it clear that they have a business degree in the Education section of their CV.
While the MBA degree was started in the US, the MSc in Management degree is of European origin.