What You Should Know About This Degree
Other similar degrees to the master’s in management is the master of business administration (MBA) and the master of science (MS). While these degrees are ideal if you choose a professional leadership position, there are several differences from the master’s in management.
The MBA provides a general knowledge of business across many industries, including marketing, finance, organizational behavior, and accounting. You may take several classes across multiple disciplines so you can see the general goal and importance of leadership. The MS degree program is specialized. As a student, you focus on a single industry, for example, business analytics, economics, marketing, or sports management. These degrees are ideal for individuals with several years of work experience, while the MiM is a better choice for those just completing their bachelor’s with little to no career background.
When choosing a quality MiM degree, look for one with a business school accreditation. The three most recognized include the Association of MBAs (AMBA), the Association to Advance Collegiate Schools of Business (AACSB), and the European Quality Improvement System (EQUIS).
Certifications aren’t necessary for a successful career in management; however, a professional certification might help advance your career. Some of the most recognized include the Project Management Professional (PMP), the Certified ScrumMaster (CSM), the Certified Business Process Associate (CSPA), and the Association of International Product Marketing and Management (AIPMM).
Here are a couple of things to consider when researching master’s in management degree programs:
- How long does it take to complete an online MiM program? The average time to complete an online MiM degree is two to three years. Cohort classes might take longer because a group of students enters the program at the same time, and there’s a set schedule for classes. Universities that don’t use the cohort model allow students to follow a more relaxed learning schedule, which lets you complete the program earlier.
- What tests are required for an online degree? Most graduate schools require you to take one of two entrance exams before you can start the MiM program: the Graduate Records Examination (GRE) or the Graduate Management Admissions Test (GMAT). Every school has a minimum requirement on scoring for placement.
Once you’ve decided to apply to MiM programs, pay close attention to each school’s timeline for the application process. Check with the admissions office, or research the application process online.
To finance your MiM, search for both merit and need-based scholarships, and fill out the Free Application for Federal Student Aid (FAFSA) early. Many private lenders and scholarship providers rely on the FAFSA to determine your eligibility for assistance.