MBA vs MMS - Which One Should You Choose

Have you ever found yourself confused between college programs after finishing school? Well, you are not alone. Students dreaming of a career in management feel too overwhelmed to choose suitable courses and colleges.

Most opt for an MBA course, following others’ footsteps, not knowing exactly where they are heading. According to a study, MBA colleges in India produce over 3 lakh graduates every year.

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A Master’s degree in Business Administration offers specialized knowledge to prepare you for the future. An MMS or Master of Management Studies also paves the way for a brighter future but in a different way.

Understand the key differences before taking a course, as they can impact your career. Let’s go through all the points together to find your perfect fit.

 

What is an MBA?

Almost every MBA college covers a wide range of business topics like finance, marketing, and accounting in their MBA courses.

Course	Details
Full Form	Master’s degree in Business Administration
Course Fees	INR 2 Lakh - INR 27 Lakh and above
Admission Process	Entrance Exam + Group Discussion + Personal Interview

What is an MMS?

An MMS is a newer program, unlike MBA courses. MMS colleges let you choose subjects like marketing, finance, management, etc. 

Course	Details
Full Form	Master of Management Studies
Course Fee	INR 1 to 10 lakh
Admission Process	Entrance Exam + Group Discussion + Personal Interview

What are the differences between MBA and MMS?

If you are considering a business career, MBA and MMS programs can get you there. But, you need to understand which field aligns with your goals. Here are the three key differences:

Eligibility and work experience

	MBA	MMS
Eligibility	Preferably BBA or any professional courses Also open to students of other backgrounds	BBS or any other background
Work experience	Preferably 2-3 years of working experience	Ideal for fresh graduates

Course structure

	MBA
Duration	2 years, 4 semesters	Same as MBA courses
Learning Methods	Mostly practicals, internships, projects, and assignments	Both theoretical and practical.
Specialization	MBA starts with your preferred field only, focusing on your specialized field from the beginning of the course.	The first 2 years have a common curriculum for everyone. After that, you get to choose your specific fields.

Curriculum for MBA

Courses	Details
Accounting	Financial Accounting, Cost accounting, Fundamentals in managerial accounting, Cost management, Tax planning, Auditing, Accounting in acquisitions and mergers, Problems in financial reporting, Business strategy
Economics	Operations management, Business Analytics, Managerial economics, Business Statistics, Business environment, Corporate finance, International Business,
Marketing	Management concepts, Business environment, Statistical analysis and operations research, Advertising management, Cost & management accounting, Consumer behavior, Retail management, Industrial marketing
Finance	Microeconomics, Corporate social responsibility, Principles of Accounting, Tools for decision-making, Business law, Corporate management, Macroeconomics, Operations management
Operations Management	Operational research, Business Statistics, Materials management, Project management, Enterprise resource planning, Financial accounting & management, Supply chain management, International Logistics
Organizational Behavior	Basics of management, Human resource administration, Directorial behavior, Administrative economics, Fundamentals of financial management, Basics of research methodologies

Popular specializations include the following:

Specializations	Curriculums
Human Resource Management	Managerial economics, Business environment, Human resource management, Research Methodology, Corporate social responsibility, Business ethics, Marketing management, Economics of human resource
Marketing Management	Business environment, Managerial economics, Financial management, Statistical analysis, Marketing decision models, Marketing for non-profit organizations
Logistics Management	International business management, Fundamental of logistics, Introduction to shipping, Customs procedure, Warehousing & inventory management, Liner trade
Finance	International financial management, Managerial economics, Commercial banking, Corporate taxation, Indian accounting standards
Healthcare Management	Hospital environment and healthcare, Medical terminology, Human physiology, Economics of healthcare, Hospital planning and engineering, Entrepreneurship & consultancy in healthcare
Accounting	Financial management, Information technology, Legal aspects of business, Cost management, Bank reconciliation statements

Curriculum for MMS

Courses	What is it About?
Perspective Management	Understanding and managing organizations and their people.
Business Research and Quantitative Methods	Business research methods, design, data collection and analysis, and use of statistics.
Operations Management	Productivity and competitiveness of organizations, operations management, effective production, and operations strategy.
Managerial Economics	Decision-making in management, microeconomic theory, supply-and-demand, limitations of markets, and the global economy.
Business Laws	Legal environment for consumers and businesses, and understanding other legal concepts.
Organisation Behaviour	Effective leadership management and efficient organizational behavior include: Behavioral science, Social psychology, Business practices
Operations Research	Resources and procedures for decision-making and developing a systematic quantitative approach to problem-solving.
Corporate Finance	Logical judgment to build analytical abilities and show the direct implementation of economic theory and research.
Macroeconomic	Causes of different macroeconomic variables like production, unemployment, pricing, and efficiency, and the key issues associated with them.
Supply Chain and Logistics Management	Principles and essentials of supply chain and other components like logistics, supply planning, and distribution network.
Marketing Applications and Practices	Advanced advertising and distribution theory and practice, efficient market strategy and execution.
Strategic Management	Learning the opportunities, dangers, strengths, and weaknesses in the operational environments of real-world firms and strategy execution.

MMS specializations include the following:

Specializations	Curriculum
Finance	System and Digital Business, International Finance, Derivatives and Risk Management, Portfolio Management & Fixed Income, Structured Finance, Management of Financial Services
Marketing	International Marketing, Service Marketing & Retail Management, Sales & Distribution Management, Consumer Behaviour, Integrated Marketing, Communication
Operations and Supply Chain Management	Operations & Supply Chain Strategies, Strategic Materials Management, Operations Planning & Control, Service Operations Management, World Class Manufacturing
Human Resources	International Human Resources Management, Organisation Development & Change Management, Learning & Development, Performance Measurement, Systems & Competency Assessment, HR Analytics
System and Digital Business	Cloud Computing & Virtualization, Advances Database & Data Warehousing, Strategic IT & IT Resource Management, Knowledge Management

Careers after MBA 

An MBA is ideal for those aiming for senior management positions or leadership roles in various industries.

 

Finance

The best roles are investment banking, financial planning, and corporate finance. The average salary is INR 2.7 LPA.

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Marketing

It helps to pursue brand management, product marketing, and digital marketing. The average salary for marketing professionals is INR 9 LPA.

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Operations Management

The best roles are business processes and supply chain optimization. The average salary can be INR 10 LPA.

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Human Resources (HR)

The best roles are recruitment, training, and employee relations. The average salary can be INR 7.1 LPA.

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Information Technology (IT)

Combining business and technical knowledge, it offers jobs in IT management and consulting positions. The average pay for MBA IT professionals is INR 10 LPA.

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Careers after MMS

MMS is suited for students who are fresh out of graduation. 

 

Marketing Management

The best roles are in market research, advertising, and sales. The salary can initially range between INR 5 and 15 lakhs per annum.

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Human Resource Management (HRM)

It involves roles in HR functions like hiring and managing employees. The average salary is around INR 10.9 LPA.

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Finance Management

Roles include financial planning and risk management. The average salary cna be INR 17 LPA. 

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International Business

The best jobs are in import/ export and international marketing. The average salary can be INR 8 LPA.

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The bottom line

An MBA, Master of Business Administration, offers a wide range of skills for experienced professionals to grow. The MMS course provides a solid foundation in management theory, and it is perfect for recent graduates or career changers.

Whichever path you choose, a quality education is the key. ITM Business School offers a nurturing learning environment with experienced faculty and an industry-based curriculum. Whether you want a bachelor’s or an MBA, ITM has something for all. To step into world-class education after school, think no further and apply now. 

 

Frequently Asked Questions (FAQs)

1) Is an MBA course worth it?

An MBA (Masters of Business Administration) can be a valuable investment for students pursuing leadership roles in their career. It enhances your skills, knowledge, and network. However, the cost of good MBA colleges can be high. So analyze your budget before applying. 

2) Can I get a good job with an MMS?

Absolutely! MMS graduates are well-equipped for various business roles. Specializations like marketing management or international business can lead to strong career paths in those specific fields.

3) Which is easier, MBA or MMS?

The difficulty level depends on your background. Since MBAs often build upon existing knowledge, they might be more challenging for those new to the field. On the other hand, students from every background can apply to an MMS course.

4) Can I do an MBA after MMS?

Yes, some students pursue an MBA after joining a job. They try to gain work experience after their MMS course. This combination can be a powerful asset for career advancement.