What is the Difference Between MBA & MMS Course?

Many students choose management after they have completed their graduation. It is a great postgraduate education stream that will lead to high-paying and fulfilling careers in the management field. The number of students enrolling for management courses has been on the rise in the past few years. Students have realised the importance of having good higher education and management is high on the list of potential courses. 

Two of the most popular postgraduate management courses are Master of Business Administration (MBA) and Master of Management Studies. MBA is the master's version of a BBA, and MMS is the master’s version of management studies. Both these degrees have a lot of value in the professional world and can lead to important job positions in big companies. Students are constantly caught between the dilemma of choosing between the two. Though one might think they are the same, there are many fundamental differences. 

In the following blog, there’s information on what are the differences between MBA and MMS courses. This way, you will be able to decide which course is suited to your needs and choose accordingly. 

Difference between MBA & MMS

The MBA and MMS degree courses are quite different from one another. Though they have similarities like both degrees are postgraduate degrees belonging to the field of management, and both having specialisations or electives similar to one another, there are differences that are quite telling. So, it’s up to you to know which degree is the one for you. 

What is MBA & MMS?

Master of Business Administration is one of the most popular postgraduate degree courses that prepare you for managerial and administrative careers in management. It is usually a 2-year degree course divided into 4 semesters, but the time period may differ in the variations of the degree. The degree began in the USA, and only graduates can apply for this degree after clearing a few entrance exams, and in some cases, job experience. 

Master of Management Studies, though fast-gaining popularity, is still relatively new compared to the existence of an MBA. It is also a degree that will get you a lucrative job in the corporate world. This degree is also 2 years long divided into 4 semesters, but it does not have any variations - just the master's course. MMS degree was created and is managed by the All India Council for Technical Education (AICTE). 

Who are they for?

Though there is a large population of students who go for MBAs, there are also many professionals who get an MBA after working for a few years. An MBA gives them a competitive edge, making way for more responsibilities, promotions, and higher pay. Some MBA courses require work experience. 

The MMS course is for students who have just finished graduating. You do not need to have any job experience to qualify for the course. MMS degree is ideal for students who do not have any education in the management or business domain. The course is designed for them to easily switch over from the bachelor’s degree to management. 

The Requirement of Practical Knowledge

Since the MBA course is designed for students who have studied management or have been working in the industry, there is a balance of theory and practical at a more advanced level. It might be hard for students from other streams to understand it all right away. Therefore, an MBA requires a high level of practical knowledge. Students face issues that they are expected to tackle based on prior knowledge. 

An MMS degree also has a lot of practical knowledge involved, but there is more stress on knowing the theory as well. The MMS degree is designed for students who do not have any knowledge about management and business and are starting from scratch. MMS degree students get an opportunity to strengthen their base before getting practical knowledge. Students are also encouraged to have critical thinking, so they develop a better understanding of management. 

Course

The MBA course is designed to build on the knowledge students already have on management and business. There’s also a lot of stress given to subjects like accounting and finance. And when the time comes to choosing an elective or specialization, you can choose a field that you really like, and start working towards making a career in it. Practical work involves working on industrial visits and projects and internships. 

The MMS course starts with educating students on management. A lot of stress is given on building a strong base on the subjects as most students do not have too much knowledge of management. All the core parts of a business like marketing, finance, strategy, project management, and accounting are taught in detail. Later, the students also get to choose specialisations and electives, but these are still focussed on subjects related to core business.  

Recognition

MBA is more popular. It has been around for the longest time, and this is the course that triggered interest in business and management. The degree first began in the USA and spread around the world. Today, in India, it is one of the most sought-after courses. There are many top universities in India that provide the course and attract students from all over the world. 

The MMS degree is gaining a lot of momentum as a lot of students are showing interest in management after completing graduation. As mentioned before, this course is for students who do not know much about management. Therefore, students are looking into the course. This course is being managed by the AICTE, and hence, can be found in all the major universities in the country. Owing to the popularity of the course, private universities have also begun offering the courses. 

Types

Since the MBA degree has been around for a long time, there are a few variations of the course. There’s a 1-year full MBA, 2-year full MBA, online MBA, part-time MBA, and executive MBA, there’s an MBA course you can choose that suits your needs. There are also many specialisations to choose from. 

The MMS degree course is only of the one kind - the 2-year full MMS degree that has been divided into 4 semesters. The MMS degree also offers many specialisations that are equivalent to the specialisations, almost as many as the ones offered in an MBA.  

Career Goals

For students who have already done management courses, the MBA degree is the next logical step to make a career in the business world. Professionals doing an MBA are looking for a leg up in their careers. The degree is a great way to get a promotion, raise, or more responsibility in their existing job. 

The MMS degree is for students who want to make a good career in the corporate world. The degree also combines well with bachelor’s degrees and opens many career options for the students. Students who want to become expert consultants in a particular field also go for the MMS degree.  

Tuition Fees

MBA courses are some of the most expensive courses in the world. Since the degree is expected to give careers a major boost, and professionals who have already been working also opt for the course, the tuition fees are quite high. 

The tuition fees for the MMS course is relatively lower. Since the course has been created in India and is monitored by the AICTE, the fees are not high but the quality of the course is. Students who cannot afford to do MBA and PGDM courses opt for the MMS course instead. 

Opportunities

MBA graduates are quite sought-after in the professional world. They have many opportunities come their way from the best companies in the world. MBA students also get opportunities for working overseas and MBA degrees have recognition all over the world. Plus, with a higher number of MBA graduates, there’s a whole network of alumni who bring in more opportunities. 

The MMS degree is also an excellent degree to get a job in the country’s corporate world. You can also start your own business or consultancy services and earn a good living. The MMS graduates are also building a strong alumni network that will profoundly improve the opportunities coming to the students’ way. 

Salary

Your salary is dependent on your specialisation and the company you get placed in. However, MBA graduates make quite a high salary and get benefits that also add to the value. 

MMS graduates also make an excellent salary. In the course, they are also taught to negotiate for the best salary and benefits. And if you start your own business or become a consultant, the sky's the limit for your earnings. If you compare the investment of tuition for the degree and starting salary, MMS graduates score better in terms of value for money. 

The MBA and MMS degrees are quite different from one another, as they bring different advantages and benefits. You have to assess your needs from your education, and the time and money you are willing to invest to truly know which course is better suited to you. However, judging by the growing popularity of the MMS course, it soon may overtake MBA as the primary management course. 

The Aditya Institute of Management Studies & Research is one of the best places to do the MMS degree course. The institute is counted as one of the top management institutes in Mumbai and the state of Maharashtra. Their course is equivalent to an MBA as there are many advantages it brings to the students. To know more about these advantages and the course, check out AIMSR MMS page and fill out the form for more details on the program.