For recent college graduates who are interested in exploring a business career but who did not major in business, a Masters in Management (MiM) degree is a viable option to bridge the gap to the business world.
MiM programs provide a foundation in business fundamentals while allowing students to discover their career direction.
Though the MiM degree has long been popular in Europe, business schools across the United States are seeing rapid growth and success with their own versions of the MiM program.
Here are eight benefits that business leaders say a MiM degree provides.
- A Business Career Launchpad
Most MiM programs seek applicants who are college graduates with zero to three years of work experience.
“We are designed specifically for liberal arts students without a business background to take what they learned in undergrad and layer on transformative business skills, then help them launch a career,” says Anna Gibbons, MiM program director at Emory University’s Goizueta Business School. “So it’s very much getting business acumen before they enter the field, versus returning with those business experiences to expand.”
Graduates often leave with stronger communication and teamwork skills, she says.
“Those skills help them advance more quickly in their organizations than if they had entered the workforce straight from undergrad.”
Students who majored in STEM or in art in college have also succeeded and benefited from these MiM programs, says Grady Arnao, Master’s in Management Studies (MMS) program director of admissions at Duke University’s Fuqua School of Business. For example, someone with an arts degree completed the school’s MMS program and had success in business afterward, he says.
In some cases, MiM or MMS students have a business or business-adjacent degree but complete the program for a more “robust education” to take them where they want to go in their career, Arnao says.
“It really depends on the student, their background and what they’re willing to get out of it,” he says. “We’ve also seen it be successful as more of an add-on for students who have that business background but want a little more advanced, hyper-focused knowledge they can take into their career afterwards.”
- A Faster, More Affordable Path to Business Skills
MiM degree programs typically run between 10 and 12 months, offering a faster and lower cost option than the traditional two-year full-time MBA program.
This condensed format of the MiM program delivers a strong return on investment, says Ken Sawka, academic director of the MiM program at Georgetown University’s McDonough School of Business.
“Students can quickly gain MBA-level fundamentals at a fraction of the time and cost,” he says. “It’s an incredibly efficient way to gain the skills employers are looking for.”
Most MiM programs mirror the first year of a two-year MBA curriculum, offering coursework in accounting, finance, marketing, economics and strategy. Students graduate with a broad understanding of business operations, experts say.
For many students, the MiM degree program serves not just as a first step into a business career but also as a foundation for future advanced degrees. Some programs, like Georgetown’s, even allow students to apply MiM credits toward a future MBA degree.
“Students can quickly gain the fundamentals now and build on them later,” Sawka said. “It’s a smart, flexible investment in long-term career growth.”
- Personalized Learning Environments
MiM program cohorts are often smaller than cohorts in MBA programs, offering plenty of individualized attention.
At Goizueta’s MiM program, Gibbons described the environment as “highly exploratory” and “high-touch.” Students receive mentorship from MBA leadership fellows, executive coaches and a dedicated career manager.
“Because the MiM program is intentionally small, it’s a highly personalized experience,” she says.
“That personalized touch extends beyond academics,” says Mary Hall, who is director of graduate admissions for Goizueta’s specialized masters programs. “The program has a dedicated career professional who works exclusively with MiM students and who teaches a professional development course that is part of the curriculum. Having someone who understands what types of roles these students are best suited for is critical. She collaborates with both our graduate and undergraduate career centers to make sure students have access to the right resources. We even start working with students the summer before they arrive to build their personal brand and get ready for recruiting early in the program.”
- A Global and Collaborative Network
One of the benefits of MiM degree programs is the networking opportunities available for students, both within their cohort and the business leaders they collaborate with while in the program. MiM students are also exposed to valuable experiential learning opportunities, experts say.
At Goizueta, MiM students participate in networking events, mentorship programs and a recurring lunch series called “Tuesday Takeoff: From Emory to Everywhere,” where alumni share insights about their career journeys.
At Fuqua, students gain real-world experience through the Fuqua Client Consulting Practicum, where MiM students work with MBA peers and local companies on consulting projects.
“They’re getting practical knowledge and are able to use that experience in working with that company to be able to decide if they want to be a consultant or something they don’t want to do at all,” Arnao says. “They can speak to those opportunities they’ve had with their interviews with companies and they might be able to meet some people through that networking that they’ve done in the project to help expose them to opportunities.”
- Diverse Perspectives and Career Outcomes
Like MBA programs, most MiM degree programs seek to admit a diverse class of students whose undergraduate majors and career goals vary. Some may want to go into a traditional route like consulting, while others may be seeking an MiM to help achieve an entrepreneurial dream.
The more diverse the class, the better experience students typically have, says Nita Swinsick, associate dean and managing director of graduate and executive degree programs admissions at the McDonough School of Business.
“A business school has a lot of action learning. There’s a lot of learning through cases,” she says. “There’s a lot of discussion as well. And so that really adds value. So what we’re looking for are people that are aligned with our values, that have a global mindset, that are collaborative in nature, that are motivated.”
- A Launchpad for Entrepreneurs
For those specifically choosing the entrepreneurial route after undergrad, some MiM degree programs emphasize entrepreneurial learning. At Goizueta, for example, students can choose entrepreneurship and venture capital electives during the Spring semester after completing their foundational courses, Gibbons says.
“So now they understand some finance and accounting and how organizations are set up, strategies, things like that,” she says. “Additionally, Goizueta has an amazing Center for Entrepreneurship and Innovation, so they are able to tap into all those experiences, speakers, pitch competitions and things like that while they’re here.”
- Streamlined Admissions Process
The MiM degree itself isn’t the only part that’s streamlined compared to an MBA program. The admissions process is often simpler and more straightforward, Hall says. At Goizueta, for example, applicants only need to fill out the application and provide letters of recommendation. In some cases, Goizueta has asked for a resume, but test scores — like the GMAT and GRE, are not required.
However, applicants should inquire with business schools about their specific MiM admissions requirements.
Some programs offer an optional interview or even optional essays, and experts say to take advantage of these opportunities because they allow admissions officers to get to know applicants personally.
“We’ve had a lot of really good responses by offering the optional interview, because the students want a chance to get to articulate their desire to come to the program,” Hall says. “It gives us a chance to get to know them a little bit better. So that is something that we’re trying to make it as straightforward as possible.”
- Growing Recognition and Value in the U.S. Market
Though MiM programs are growing, Arnao says there are still some misconceptions about the programs compared to MBA programs, which have been around for decades and are generally more known by people.
But employers, especially those in the U.S., are starting to see the value of an MiM or MMS degree because it signals versatility in job applicants, Sawka says.
“Being able to walk into a prospective employer’s office with that combination of an undergrad major in something other than business, and a very intense focus on business concepts that can enhance that just makes them much more marketable,” he says.
