Masters in management degrees, or MiMs, once an offering unique to European business schools, are now becoming more mainstream in the U.S., especially after Duke’s Fuqua School of Business launched its one-year MiM program.
Fuqua’s new program is intended “to give a bit of business know-how to recent graduates in subjects as varied as philosophy, modern languages and maths,” reports a Financial Times article on the subject, “Masters of the universe: the rise of ‘pre-experience’ degrees.”
And the program won’t be limited to Duke’s North Carolina campus, but will become the basis of similar programs at Duke campuses in Brazil, China, India, Singapore, and the Middle East.
Other American business schools offer a MiM degree as well, including Case Western Reserve University, Rochester, and Thunderbird, but the Fuqua School’s adoption of the program “may be the tipping point for MiMs in the U.S.”
A new MiM was also launched at the London Business School last year, and according to its executive director Julia Marsh, the program recruits a clear prospect. “Recruiters are looking more for analytical skills than the big, strategic skills of an MBA,” she says.
Although these programs are pricy — $30,000+ for a one-year degree is high for anyone, but especially for students who have not yet entered the workforce — graduates from both the MiM programs at Duke and at LBS have not found post-degree employment an issue. In fact, at Fuqua, recruitment from the MiM program has been on par with the school’s regular MBA program.
When asked what the value of the masters in management degree is, both to students and to business schools, Ángel Cabrera, president of the Thunderbird School of Global Management, explains, “It is clear that there is great demand from companies for entry- and mid-level managers with solid business skills. The Thunderbird masters in management degree provides aspiring young professionals – who may not have significant work experience – the opportunity to launch their careers and to compete successfully in a rapidly changing and competitive marketplace.”
The FT article provides more views on the pre-experience MiM from administrators at business schools in France, Turkey, Russia, Canada, Sydney, and others.
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