You have high aspirations to work in management and believe a graduate degree can help you achieve your career goals. Now, you face a big decision: Which graduate-level degree should you pursue? There is no easy, one-size-fits-all answer.
Although many ambitious professionals look to the Master of Business Administration (MBA) for a solid start, this is by no means the only master’s degree worth considering. The Master of Science in Management (MSM) is also an excellent option, but for different reasons. Unfortunately, some ideal MSM candidates have no idea this degree exists or don’t know its unique advantages.
While charting your career trajectory, it is essential to understand what exactly MBA and MSM programs involve so you can make an informed decision. Remember, these can both be fantastic graduate programs, but they are not one and the same. To clear up any confusion, we provide a close look at the many factors that distinguish these programs while revealing how their specific attributes could shape your career path.
MSM vs. MBA
You have decided you want to attend business school and earn your master’s degree. Now, you are weighing your options: the Master of Science in Management versus the Master of Business Administration. This decision will come down to your particular career goals and your expectations for attending grad school. The good news? Either program could take your career to new heights.
Understanding the Master of Science in Management
Chances are, you are familiar with the MBA—a highly sought-after degree. The Master of Science in Management is also a business-oriented, graduate-level degree, but it involves a broader overview centered on organizational leadership and the business world.
The MSM is a wonderful degree program for aspiring leaders. It covers a lot of ground but has a focus on organizational behavior, ethical decision-making, and project management.
Exploring the Master of Business Administration
The MBA has long been a well-respected master’s degree, and for good reason: This rigorous program provides a solid foundation by covering a wide range of critical concepts. Compared to the MSM, the MBA offers more opportunities for specialization, plus a deeper dive into technical concepts such as accounting, information technology, and financial management.
The Differences Between a Master’s Degree in Management and an MBA
The MSM and MBA may seem similar at first glance, but in reality, many distinctions set these programs apart. These largely relate to the required foundational courses and elective options, though there are also some modest differences regarding prerequisites and format availability.
Curriculum and Course Content
With both the MSM and the MBA, a series of core courses set the stage for a high-level business education. These differ in content and scope, however, with the MSM focusing on topics such as diversity, inclusion, and responsible leadership, whereas the MBA emphasizes quantitative decision analysis, financial management, and information technology. Both programs include a significant number of core classes but the MBA allows for more electives.
With the MBA, electives largely depend on the student’s preferred concentration. Enrolling in a general MBA program makes it possible to take a wide array of electives, but concentrations such as accounting, business analytics, finance, and healthcare administration focus on electives that are directly relevant to specific career goals.
The MBA culminates in a capstone course, which aims to synthesize information from the rest of the curriculum to promote stronger learning outcomes. A capstone course is not part of the MSM, but other influential career opportunities are provided. Most impactful among them are MSM courses that encourage students to evaluate their strengths and take active steps toward planning a desirable career trajectory in leadership.
Targeted Career Outcomes
We’ve touched on top MBA concentrations, but it bears repeating: These are crucial to preparing for desired career fields. An MBA with, for example, a healthcare administration concentration can look significantly different from one revolving around business analytics.
Alternatively, targeted career objectives can play into the MSM. This program will provide more guidance along the way, as some of its most compelling courses emphasize life design principles, career planning and career coaching. As such, this can be the preferred option if you have a general desire to take on a leadership role but have yet to decide in what capacity you want to lead.
Program Duration and Flexibility Options
Offered fully online, the MSM calls for 30 credits and, if pursued on a full-time basis, can be completed in just one year. The MBA program requires 36 credits and therefore a longer commitment, with full-time students expected to graduate in 18 months. As with the MSM, it is possible to complete MBA coursework entirely online.
The MBA also offers a flexible learning format incorporating both online and in-person asynchronous classes. This hybrid approach appeals to students who desire the advantages of in-person learning but still need the flexibility to work around professional or family obligations. The MSM degree is available completely online, making it the preferable approach for students who crave maximum flexibility.
Admission Requirements and Prerequisites
Both the MSM and the MBA have similar admission requirements: a bachelor’s degree from a regionally accredited college and (depending on the type of coursework) a minimum 2.7 or 3.0 GPA. However, these are the minimum requirements and certainly do not guarantee acceptance.
The Statement of Purpose plays a critical role in the application process. This should outline your goals as they relate to your preferred degree program. To that end, you will want to do a little soul-searching before you apply and develop an understanding of precisely what it is about the MSM or the MBA you find so compelling.
Upon gaining admission, differences in curricula begin with prerequisites. The MSM has no prerequisite courses, but MBA students will need academic experience with business statistics. For some, fulfilling this requirement will only be possible upon completing an online module along with an assessment to verify business statistics skills and knowledge.
Similarities Between a Master’s in Management Degree and an MBA
There are a few noteworthy similarities that link the MSM and the MBA. Both are graduate-level programs and aim to equip students with high-level business skills. As such, these programs can be quite rigorous and call for a great deal of commitment. What’s more, both emphasize practical application, which is achieved through case studies and other impactful learning experiences.
Format matters, too, particularly for students who prefer online learning. Both the MSM and the MBA are available entirely online, with part-time coursework offered to accommodate busy students’ schedules.
Finally, it’s important to consider the employer’s perspective. While the MBA is certainly the better-known of the two degrees, the MSM is also prestigious and, like the MBA, confers considerable respect.
How to Make the Right Graduate School Choice
No one master’s program is ideal for every student, and even after you’ve navigated the Master of Science in Management versus MBA decision, you will need to look at graduate schools that reflect your goals and priorities. Keep these factors top of mind as you proceed:
Determine Your Goals
First and foremost, you should know what specifically you intend to accomplish as a graduate student and how your education will affect your long-term career goals. Begin by defining these goals: What sector do you hope to enter, what type of job would you like, and what do you hope to accomplish once your foot is in the door?
Next, determine the role of an MSM or MBA in preparing for your dream career. Are there any particular classes or experiences that promise to equip you with the necessary skills for the job? What are your goals for the program itself?
Research Programs
Once you have an overall idea of how you’d like your career to unfold (and how your graduate degree can play into this), it’s time to delve into the details. This means taking a close look at numerous MSM and MBA programs to get a better sense of their unique requirements. Examine the curricula for each, paying attention not only to foundational coursework but also available concentrations and electives.
Program formats and timelines matter as well. These can vary significantly between programs, and depending on your location and availability, you may gravitate toward a hybrid or fully online program. Additionally, you’ll want to know whether part-time classes are available and how many semesters you’re expected to commit to your degree program.
Rank Your Priorities
The most prestigious business program will provide little value if it fails to meet your unique needs as a grad student and aspiring management professional. As such, your personal priorities should be the focus as you finalize your decision. Like some aspiring grad students, however, you may struggle to discern what your priorities actually are. Common examples include:
- Concentrations available in specific, career-relevant areas (such as healthcare administration or finance).
- Emphasis on soft skills versus technical coursework. (Which program helps you develop the targeted skill set you require?)
- Opportunities to gain practical experience or to synthesize knowledge. (Examples could include capstone courses or immersion experiences.)
Consider Accreditation
While MSM and MBA programs carry strong reputations, some are more reputable than others. You can learn a lot by examining accreditation status. Accreditation from the Association to Advance Collegiate Schools of Business (AACSB) is especially meaningful, as this confirms that your preferred college or university has met or exceeded rigorous standards from one of the most prestigious accrediting bodies.
Evaluate Tuition, Fees, and Financial Aid Options
What is the expected cost of attending graduate school? Closely compare tuition for various programs, looking at not only the tuition attached to the degree in question (MSM versus MBA) but also how it differs between hybrid or online formats.
Keep in mind that tuition and fees only tell part of the story. In addition, you should consider and investigate financial aid, as many graduate students are able to secure scholarships or grants. Look into available scholarships and also whether it’s possible to secure assistance from your employer.
Earn a Master of Science in Management Online at UTC
Are you ready to take the next step in your business career? You can find plenty of compelling opportunities at the University of Tennessee at Chattanooga. The Gary W. Rollins College of Business offers a highly esteemed MS in Management program, which provides structure and guidance as you develop a variety of important business skills. Reach out for more information about UTC’s MSM and MBA programs—or take the next step and apply today.
