How a Master's in Management Compares to an MBA
ASPIRING BUSINESS executives who have finished college and who want to pursue a graduate-level business education have a variety of options. The most popular and conventional type of business graduate degree is a Master of Business Administration. When pursued as a full-time student at U.S. business school, an MBA typically takes two years to complete.To get more news about
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However, business schools often offer shorter graduate programs for students hoping to increase their business knowledge without pursuing a traditional full-time MBA, including master's in management programs, which full-time students may be able to start and finish within a single year. Some of these programs offer specialized degrees, which cultivate the expertise necessary to become a leader in a specific field, such as supply chain management. Others provide general management degrees, which signify that students have received training in a variety of business topics, ranging from finance to strategy.
For instance, Duke University's Fuqua School of Business offers two types of business master's degrees. One type is a Master of Management Studies, a general management degree which can either be pursued on Duke's North Carolina campus or taken with a global focus, with students splitting time between North Carolina and China. The other option is a Master of Quantitative Management, a specialized master's offered in business analytics or health analytics.
Russ Morgan, the senior associate dean for full-time programs at the Fuqua School of Business, says prospective grad students who are trying to choose between specialized and general business master's programs should consider how precise their career goals are. "The trade-off, in general, is going to be, are you getting depth of exposure in one particular area, or are you getting breadth of exposure more in terms of general management, (meaning) your ability to communicate and influence audiences (and) your ability to lead those audiences?" Morgan says.
Management master's programs are usually targeted towards recent college grads eager to launch business careers, according to business school administrators. However, one important exception is the M.S. in Management for Experienced Leaders, or MSx program at the Stanford University Graduate School of Business, which is designed for mid-career business leaders who want to commit a year to full-time study and professional development.
We see the one-year program format and other features of the MSx program as more appropriate to more mature leaders that are farther along in their career," says Mike Hochleutner, the director of Stanford's MSx program. "The opportunity cost to take time off when someone is 12 to 15 years into their career is often quite a bit higher than it is for someone who's looking at traditional MBA education, and they also want to be surrounded by people who have commensurate work experience to their own."
Nevertheless, given that the majority of management master's programs are meant for recent college grads, experts note that those programs are especially helpful for individuals with humanities and social sciences majors.
