subject: The Differences Between A Masters In Management And An Mba [print this page] What are the main differences between an Masters in Management and an MBA? In salary terms, the MBA is perceived to have a slight edge, however the difference between an MBA and a Masters graduate with four years postgraduate experience in a specialization is small. For those wanting to specialize, the MBA may be too general, and you may feel ready to start studying very soon. Likewise, if you want to differentiate yourself in management and arent ready for an MBA, Masters in Management courses are designed for you.
Course focus and teaching styles are essential differences between an MBA and a Masters. Masters courses tend to introduce graduates to general management but in a different way. Some cover the same material as parts of the MBA but are more didactic in manner with fewer case studies, less debate and a different style of teaching that is more lecture-based. MBA courses tend to focus on teamwork, lots of contribution in class, learning from peers and networking and communication skills. In this sense the professor is often a hands-off guide for students debates, guiding them towards problems rather than providing conclusions, allowing students to make mistakes and research thoroughly themselves.
MiM programs are designed for people in the early stages of their career right after their undergraduate degree or after about a year on the job. As a result, MiM students are typically younger than MBA students: 23 years on average compared to the 27-32 average age for MBA programs. There is a difference in course fees, as an MBA will generally cost twice that of a MiM. The MiM is officially a Master of Science, and idea is to provide in-depth theoretical knowledge. But many schools also say their programs are practically oriented. So there is a tension between the normal understanding of a Master of Science, and between the approach of an MiM program that seeks to provide a practical and more general orientation. Many programs provide in-depth knowledge of several management disciplines, perhaps even deeper than in MBA programs (in MBA programs, you just work with formulas, but you dont necessarily care where they come from).
Case studies and internships are ways to bring the practical side into a program. An MSc will give a candidate a very specialised set of research skills and little training in management and these are the candidates that will usually find a home in large consumer organizations doing consumer research. Meanwhile, students in finance or economics often go into consulting companies or organizations, including the Bank of Canada, where they carry out research.
