On the Rise: MiM Programs in the USA

Aspiring professionals seeking to bolster their managerial prowess and take their careers to new heights often turn to Masters in Management (MiM) programs. Among the many options available worldwide, the US is an emerging force for pursuing MiM programs.

Several highly ranked US schools are now launching MiMs, including the prestigious University of Chicago Booth School of Business. They aim to compete with schools in Europe, the birthplace of the MiM degree and home to the largest share of such programs globally.

MiMs are designed to equip students with the essential skills and knowledge needed to excel in leadership and management roles across various industries. Unlike traditional MBA programs, which typically require several years of work experience, MiM programs are tailored for recent graduates or early-career professionals. The MBA remains the premier business qualification in the US, but the MiM is making inroads.

Academic excellence

The US boasts some of the world’s top-ranked universities and business schools. Many of these institutions offer MiM programs that are renowned for their academic rigor and faculty expertise. Studying in the US can provide students with access to world-class resources.

The University of Chicago Booth School of Business has created a new 10-month MiM, with the inaugural cohort of students beginning their studies in fall 2024.

“We are excited to debut Chicago Booth’s one-year Master in Management, the school’s first new degree program in 88 years,” says Madhav Rajan, the school’s dean and the George Pratt Shultz Professor of Accounting. “We look forward to introducing foundational business skills to a new generation of Booth students, enhancing their impact in that first job and beyond.”

The new program is designed for ambitious recent college graduates who studied humanities, arts, social sciences, biological sciences or physical sciences in college, and are interested in jobs that value business-oriented skills and knowledge. Applications for the first class have been available from September 1, 2023.

“We believe completing the Master in Management Program at Booth will enable young professionals to marry their passion — whether it be physics, computer science, art history, philosophy, or other areas of the liberal arts or STEM fields — with management skills that position them for high-impact careers,” says Starr Marcello, deputy dean for MBA Programs at Chicago Booth.

Students in the program learn the fundamentals of business by taking five required courses: Microeconomics, Financial Accounting, Business Decision Modeling, Behavioral Foundations of Management and Data Analytics. They also take four classes in one area of study of their choice: Analytics, Entrepreneurship, Finance, Marketing, or Strategic Management. Additionally, students select one elective drawn from a variety of Booth courses.

It is just one of many options in the US. MiM programs are offered by prominent institutions such as Northwestern University’s Kellogg School of Management, MIT Sloan School of Management, and the Mendoza College of Business in America.

Demand for these programs is strong, schools say. “Interest in undergraduate business programs is very strong, as is interest in one-year masters programs,” says Russ Morgan, the Senior Associate Dean for Full-Time Programs at Duke University’s Fuqua School of Business in North Carolina.

“Many US schools now have experience with specialty masters and some have experience with a MiM program. That has generally enhanced the awareness of the MiM degree and many schools have a better understanding of the population seeking these degrees and the value proposition for the degrees relative to an MBA that they may not have had a decade ago.”

Strong career prospects

He adds US recruiters also have a better understanding now of the skills that this degree provides compared to a decade ago. As such, the US offers a plethora of career opportunities for MiM graduates. Major cities like New York, San Francisco, Boston, and Chicago are hubs for finance, technology, healthcare, and other industries.

American universities have strong career services departments that assist students in securing internships and job placements, providing a valuable pathway to launch their careers. Companies too are eager to hire MiM graduates from US schools, though the proportion is lower than hiring rates in western Europe.

“Recruiters now more fully understand the degree and the value proposition provided by our graduates,” sags Morgan at Fuqua, which offers the Master of Management Studies programs. “We have had time to introduce graduates into the market and for them to demonstrate their competence and validate the Fuqua degree. For recruiters, that personal experience with our graduates has to them returning to campus and hiring an increasing number of graduates each year.”

Pursuing a MiM program in the US could be a good move for those looking to embark on a successful management career. With its academic excellence and myriad career opportunities, the US is an increasingly popular choice for students.