MBA programs are known to everyone. They offer exceptionally versatile skills to future managers and business leaders. On the other hand, the MMS degree has not been as popular, until recently.
A Master in Management program supports students in developing leadership and managerial expertise. It helps students to improve their understanding of business viewpoints and organizational behavior. Both MBA and MMS are master-level programs in business education.
Both of these courses cover almost the same subjects. A lot of fresh graduates get confused between them. In this blog, we will cover the basic differences between the two.
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What is the MBA Program?
MBA’s full form is “Master of Business Administration”. MBA is the world’s most reputed and popular postgraduate management degree. It prepares you for managerial and administrative careers in management.
It is usually a 2-year program of 4 semesters, but the time period may vary in the variants of the degree. Core courses give you an understanding of fundamental management knowledge. Elective courses give you the opportunity to choose courses. You can choose courses relevant to your individual career goals.
MBA also offers various opportunities for specialization. These include:
- Human Resource Management
- Healthcare Management
- Analytics Intelligence
The admission process includes an entry test accompanied by an interview. As it is a master-level degree, only graduates can apply for it after clearing the entrance exam. In some cases, practical work experience is also required.
What is the MMS Course?
MMS (Master of Management Studies) is a relatively new degree compared to MBA. But its fast-gaining popularity is still remarkable. This degree will also get you a well-paid job in the corporate world.
It is also a 2-year program of 4 semesters, but it does not offer any variants. The MMS degree was introduced by the All India Council for Technical Education (AICTE) in Mumbai Maharashtra. It is managed by AICTE too.
The course is a great opportunity for students who want to explore the management world. MMS helps a lot of students to gain a deep knowledge of management. The course offers a range of subjects like project management and business statistics. MMS’s approach to business education is more theoretical compared to MBA.
MMS offers specialization in marketing, consulting, and finance. MMS offers diverse opportunities in numerous unique profiles. These include Account Manager, Business Manager, Brand Manager, Consultant, and many more.
Any undergraduate can apply for admission to MMS. You need to be graduated in any discipline or equivalent from a renowned university. CET (Common Entrance Test) is conducted by colleges. Admission is absolutely merit-based as there are limited seats available for the course.
MBA vs MMS: Key Differences between MBA and MMS Course:
Who are the ideal candidates for MBA and MMS programs?
MBA programs are often pursued by professionals. They have relevant job experience. They aim for higher-level managerial positions. An MBA gives them a competitive edge, especially making way for promotions and higher pay.
MMS program is more seemly for fresh graduates. Individuals with zero or less work experience can apply. They can get a foundational understanding of management. MMS degree is ideal for students who do not have any management background. This course helps them to easily switch over from any bachelor’s degree to management. If you want to switch from any other field to management, MMS is a great choice.
The Requirement of Practical Work Experience:
MBA programs work at a more advanced level. They require applicants to have prior work experience. The relevant background is necessary to absorb “A-level” classroom discussions. It might be hard for no management background students to understand it all right away. That’s why, an MBA requires a high level of practical knowledge. An internship is the best way to get practical work experience.
The MMS program does not have strict work experience requirements. It allows fresh graduates to enter the program easily. MMS is designed for students starting from scratch. MMS is ideal for students with zero or limited job experience.
Curriculum and Approach:
MBA programs offer a comprehensive prospectus. They allow for specialization in specific areas. They provide a broader understanding of business operations. The MBA course is intended to build on the prior knowledge of business and management. You can choose a specific domain to specialize in and start building towards making a career in it.
The MMS course teaches students about the basics of business and management. Most students do not have too much prior knowledge of management. The main focus of MMS is to build a strong base of the given subjects. This bridges the gap between academia and industry. Students get to choose specializations and electives. But these are still focused on subjects related to core business.
Reputation and Recognition:
The MBA programs have been around for the longest time. They have established a reputation as more prestigious and internationally recognized. London Business School and Harvard offer executive MBA courses.
MMS program is gaining prominence with time. A lot of fresh graduates are showing interest in business and management. But MMS is more of a regionally focused program. MMS was created in India.
Different types of programs:
Since the MBA degree has been around for a long time, it offers a few variations in the course. These are:
- 1-year full-time MBA
- 2-year full-time MBA
- 2+ years of part-time MBA
- 1-2 years executive MBA
- Online MBA
MBA also offers a variety of specializations to choose from.
The MMS program is only of one kind, the 2-year full MMS course.
MBA programs have relatively higher tuition fees.
MMS program offers more affordable tuition fees. That makes it more attractive for those looking for quality education at a relatively lower cost.
Career Prospects and Salary:
In the professional world, MBA graduates are quite in demand. MBA is an internationally recognized program. MBA graduates can get many opportunities from the biggest companies easily. MBA graduates enjoy larger career opportunities and higher earnings. MBAs work in top managerial roles and leadership positions.
MMS graduates may get entry-level management positions at first. But career opportunities are unlimited. Once you enter the corporate world, you can take your career to the next level. MMS graduates also make an excellent amount of salary. Most of the MMS graduates start their own businesses or consultancy firms. MMS graduates score better in terms of value for money.
MBA and MMS: Which One Should I Choose?
It depends on your personal goals, interests, and aspirations. Consider the following factors:
Personal Goals and Interests:
Think about your career objectives. Identify which program line up best with your aspirations. MBA programs provide a comprehensive understanding of different business operations. The MMS program offers a strong base for entry-level management roles.
Program Reputation and Recognition:
Research the recognition and popularity of MBA and MMS programs. Consider their status and industry exposure.
Assess the financial facets of both programs. Compare tuition fees, possible scholarships, and the return on investment. Evaluate the career prospects and salary associated with each.
Understanding the main differences between MBA and MMS programs is essential. Research thoroughly before making a decision. Consider all relevant factors. You can make an informed decision lined up with your career aspirations. Assess your personal goals, interests, program reputation, and financial aspects. This will lay the foundation for a rewarding career in the corporate world.
Frequently Asked Questions:
Both are master-level programs with different approaches mentioned earlier in this blog. MBA is more popular than MMS.
Yes. There are a lot of MBA colleges you can approach for an MBA after MMS.
Master in Management is a specialized 2 years postgraduate course. A lot of top universities offer this course.
MMS program eligibility criteria in India are simple. They require the applicants to complete their higher education from any reputed institution.