The first step on the career ladder is used: who wants to start in management, usually begins with a Bachelor’s degree. However, many graduates have the feeling that only a first degree is not enough, to be adequately qualified. What then? There are many possibilities: A MBA (master of business administration) or maybe a master in management?
Thomas Graf gets such questions on its Internet platform “Master in management compass” is increasingly used. Because the number of Bachelor’s graduates also offered master’s degrees in the field of management in Europe has increased by leaps and bounds.
Master for uni grads
Internationally, the term has become master in management (MIM) established. These courses deal at least half with General management content, for example with subjects such as finance, strategy and human resource management. In contrast, specialized master focus on a Department such as finance or marketing.
Key issues for the MBA
- Local or abroad?
- Generalist or specialist?
- Full time or part time?
The MIM is however no label for an academic degree. This can be for example, a master of Science (M.SC.) in management or a Master of Arts (M.A.) in general management. Because each University can even set what she calls a degree? However required a M.SC.. a high proportion of scientific work. That may be one reason that many colleges put more on a M.A…
The MIM is first and foremost a European phenomenon. Over 70 percent of the world’s offered courses exist in Europe. They are offered by colleges and universities, but also by business schools. The management master is a consecutive course. That means he requires an economics undergraduate – say a Bachelor – prepared especially for the promotion. Experience is not required.
MBAs for professionals
In contrast to the master it is aimed MBA mainly to interested parties without economics, who want to get fit for a management job. It requires experience and is not based on a study. The MBA students are significantly older than MIM students around the age of 28, the teaching is practice-oriented. “At the MBA none where a formula came from, there is interested in it the application in practice”, says expert count.
It is exactly the other way around at the MBA. Here often lack basic knowledge in economy participants, for they have already several years’ experience and seek therefore practice-oriented knowledge. “In Germany the foreseeable will focus more on the master’s programs”, believes Michael Frenkel, Dean of WHU – Otto Beisheim School of management, which offers both types of programme such as the HHL. “This is just more German tradition.”
Part-time master for professionals
Several Bachelor’s graduates also start in professional life. It also has an impact on the courses on offer. There are also part-time MIM courses. Pioneer in Germany was the HHL offered their M.SC.. in management in the autumn for the first time not only in Leipzig, but also in Cologne.
In September, for the first time the ESCP Europe in Berlin starts with a part-time master in management, which you can complete in two or three years. “This is also a response to the requests of enterprises that want to allow even a master’s degree in addition to the job their employees with Bachelor’s degree”, explains program manager Sven Scheid.
It is therefore only admitted who has a job. The students of 2.5 weeks on the campus in Berlin and a week at one of the other ESCP locations in London, Paris, Madrid and Turin spend per semester.
Basically a second degree is not required. Master expert count according to should you begin the own job opportunities analyze. “If you have good deals, you need no MIM, but should go in the job’, Graf said. Who, however, would like to have an in-depth training or get no suitable job offers, can connect directly after the Bachelor’s nor a MIM study? The option to make later an MBA degree, remains open for all. Count: “the MBA is not running from you. You can make at any age.”