Master in management studies or MMS is an AICTE approved Master’s degree course which is similar to MBA. Some universities also call it another name for the MBA course. This postgraduate level degree course has a duration of two years which is further divided into four semesters. Those who want to pursue this course should have a bachelor’s degree in management with the minimum required marks.
The MMS course is designed to provide deeper knowledge about business strategies, finance management, and the mindset behind these strategies. In other words, this is an educational discipline that deals with major areas like social organization and organizational direction. This postgraduate degree program enhances the business management skills of students and provides the required training so that students can build a rewarding career in this field.
Since the Master in Management Studies course is similar to the MBA course, students from all streams can opt for this course. Moreover, it also offers excellent job opportunities to students after completing this course.In this article, we are going to discuss everything about the master in management studies course that you need to know before pursuing this course.
What Is Master in Management Studies Course?
This is a two-year postgraduate course designed for students who want to make a career in the management field. The minimum eligibility for the MMS course is graduation.This course is similar to the Master in Business Administration or MBA course. This course allows students from science, commerce, humanities, and other streams to join this course. In this course, students can learn both theoretical and practical knowledge about the field. In the first year, the subjects of the MMS course are the same as the MBA course. But in the second year, students can decide on a field of specialization as per their interests.
Scope of The Master in Management Studies Course:
The Master in Management Studies course is specially designed to offer managerial and leadership skills to students. The MMS course has a higher scope in the global market and offers various job opportunities to graduates in India as well as abroad. The course mainly focuses on providing practical knowledge to the students in the field of management so that they can work in different companies efficiently.
Students can get in-depth theoretical knowledge of management and leadership skills that can help them in their work. Further, it offers knowledge in different topics like the psychology of money, e-commerce, business ethics, etc. Since the course is popular in the international market, it enables the graduates to visit different countries and gain international experience while working with leading global experts.
Master in management studies is basically a managerial course that includes several related subjects like project management, IT management, innovation management, human resource management, etc. So, after the completion of the MMS course,students will have diverse knowledge in all the related topics and can work in various job profiles in different companies. Moreover, students will get a wide range of job opportunities after completing the study of this course.
Course Fee for The Master in Management Studies Course:
The course fee for the Master in Management Studies course varies from college to college. However, the average course fee for this course ranges from 60,000 rupees to 4.5 lakh rupees in India.
Eligibility Criteria for Master in Management Studies Course:
The minimum eligibility criteria for the master in management studies course is a graduation in any discipline or any equivalent course from a recognized university. One should have at least 50% marks in the graduation level to be eligible for this course.For reserved category students, the minimum eligible score is 45%.Moreover, students who are pursuing graduation final year can also apply for the MMS course. In this case, the students need to provide proof of the graduation degree within the specified duration.Some colleges also consider the scores of entrance test exams conducted by them for the eligibility of the candidates.
Admission Process for The Master in Management Studies Course:
The admission process to the MMS course is done depending on the scores of candidates in the entrance exam and bachelor’s degree. Some colleges also conduct personal interviews to give admission to the students. So, one should score a good percentage of marks in the entrance exam conducted by the college to get admission to this two-year master’s degree course. Then the colleges will declare the cut-off marks on the basis of entrance exams and the availability of seats. The candidates can check the cut-off declared by the college and then proceed with the admission process.
Entrance Exams for The Master in Management Studies Course:
The MMS course has numerous entrance exams to give admission to this course. One can pursue any of these entrance exams if he/she wants to pursue the Master in Management Studies course. The following is the list of the entrance exams for the MMS course.
- Common Admission Test (CAT):
The Common Admission Test is the top-level exam conducted in India to give admission to students in high-level management institutions.This entrance examination is conducted by the Indian Institute of Management (IIMs).
- Graduate Management Aptitude Test (GMAT):
The GMAT exam is conducted by the Graduate Management Admission Council of India. By clearing this exam, the students can get admission to the colleges governed by GMAC.
- Management Aptitude Test (MAT):
This entrance exam is another gateway to get admission to the MMS course in government colleges and universities. The MAT entrance exam is conducted by theAll IndiaManagement Association.
- NMIMS management aptitude test (NMAT):
Narsee Monjee Institute of Management Sciences conducts the NMAT exam in India. Those who clear this exam will get admission to the MMS course in colleges and universities under the tutorship of the Narsee Monjee Group of Institutes.
- Institute of Rural Management Anand (IRMA):
This entrance exam is the qualifying exam for the management and business courses in the IRMA college. The same college conducts this exam to select candidates for its courses.
- MICA Admission Test (MICAT):
If you want to get admission to the management and business courses of the MICA Ahmedabad, then you will need to clear this entrance test. This entrance test is conducted by the MICA Ahmedabad.
- Indian Institute of Foreign Trade (IIFA):
This entrance exam is conducted by the IIFA to give admission to students to the IIFA group of colleges. You will need to clear this entrance test if you want to pursue the MMS course in the IIFA colleges.
- Aims Test for Management Admissions (ATMA):
The ATMA entrance exam is conducted by the AIMS or association of Indian management schools. This entrance exam is recognized by the MHRD to give admission to management courses in different colleges.
Syllabus for The Master in Management Studies Course:
As mentioned earlier, the master of management studies course has a total of four semesters. The following are the subjects that are taught in the four semesters of this master’s degree program. The subjects listed below are almost the same in most colleges. But some colleges may have a minor deviation in the course curriculum compared to the following mentioned topics.
- Marketing Management
- Business Mathematics
- Organization Behavior
- Management Information System
- Communication Skills
- Managerial Economics
- Operations Management
- Perspective Management
- Elective Subjects: Negotiation Skills, Indian Ethics Management
- Operations Research
- Human Resource Management
- Legal Aspects of Business & Taxation
- Financial Management
- Business Research Methods
- Cost and Management Accounting
- Elective Subjects: Event Management, International Finance, Supply Chain Risk & Performance Management, Rural Marketing, Software Quality Assurance & Marketing
- Strategic Management
- International Business
- Summer Internship Report
- Sales Management & Sales Promotion
- Financial Aspect of Marketing
- Consumer & Industrial Buying Behavior
- Product & Brand Management
- Training and Development
- Competency & Performance Management
- Organizational Theories and Structure Designs
- Introduction to Industrial Relations and Labour Welfare
- Materials Management & Transportation
- Manufacturing Resource Planning and Control
- Advanced Supply Chain Management
- Software Engineering
- Database Management Systems
- Networking and Communications
- Technology Platforms
- Elective Subjects: Product & Brand Management, E-Commerce, Quantitative Methods In Operations, Marketing Research & Analytics, Corporate Valuation, Labour Legislation
- Management Control System
- Entrepreneurship Management
- Environment Management
- Specialization Projects
- Business Ethics & Corporate Governance
- Quality Management
- Services Management
Career Opportunities for The Master in Management Studies Course:
Career opportunities for the graduates of the MMS course are numerous in India. Candidates can get jobs in top-level MNCs and other top companies in the management and leadership fields. Some of the major areas where the MMS graduates can work include banks, business consultancies, export companies, financial organizations, industrial houses, employment areas, etc. Graduates can also work as an entrepreneur by forming their own corporate houses.
Top Job Profiles for The MMS Course Students:
The candidates can work in various job profiles in India. The following are some of the major job profiles for the candidates of the master in management studies course.
- IT Service Marketing Head:
The main role of an IT service marketing head is to monitor marketing activities for the clients in the IT field. In this job profile, the individual creates strategies for all marketing teams such as advertising, digital, creative, and communications. An IT service marketing head also sets team goals and monitors them. The individual in this job role also creates and manages the budgets for the marketing department. The annual average salary of an IT service marketing head ranges from 6 lakh to 8 lakh rupees.
- Manufacturing Head:
A manufacturing head maintains the market analysis details of a product and looks after the products that are being manufactured in the company. The role of a manufacturing head is to lead and motivate all the teammates to meet schedules and improve the quality. The individual is also responsible for the safety of employees working in the manufacturing department. He/she also monitors production planning, purchasing, instrument manufacturing, and shipping departments to ensure smooth operations. An individual in the marketing head job profile can earn an average salary from 8 lakh to 9 lakh rupees per year.
- Operations Manager:
The role of an operation manager in any organization is to monitor various business operations and activities. The individual also improves operational management systems and processes to ensure that all operations are performed appropriately. An operations manager also analyses the financial data and uses this data to improve profits. Moreover, the individual is also responsible for recruiting, training, and supervising the staff to ensure smooth operations. The average salary of an operations manager ranges from 4 lakhto 55 lakh rupees.
- Brand Manager:
A brand manager is responsible for maintaining the value of the brand by monitoring the quality of products and services. The individual in this job profile works with different departments within the company to ensure that all aspects of the brand are maintained. The brand manager works with different departments like sales & marketing, finance, and product development to manage the marketing process of the business.A brand manager can earn an average salary of 8 lakh to 10 lakh rupees per year.
List of Top Colleges in India For the Master in Management Studies Course:
Here is a list of the top colleges in India to pursue the Master in Management Studies course.
- Jamnalal Bajaj Institute of Management Studies, [JBIMS] Mumbai
- Durgadevi Saraf Institute of Management Studies, [DSIMS] Mumbai
- Indian Institute of Management, [IIM] Ahmedabad
- Department of Management Studies, Bangalore
- Navkonkan Education Society’s Institute of Management Studies, [NESIMS] Chiplun
- Asm Group of Institutes, Pune
- Alamuri Ratanmala Institute of Engineering and Technology, Thane
- Rajeev Gandhi College of Management Studies, [RGCMS] Navi Mumbai
- Vishwakarma Sahajeevan Madanbhai Sura Institute of Business Management, [VSMSIBM] Khed
- Pillai Institute of Management Studies & Research, [PIMSR] Pune
Frequently Asked Questions
- What is all about MMS?
Master of Management Studies is a fantastic subject. It is a post-graduate degree that provides advanced general management knowledge of business. You can also pursue it after completing graduation.
- Are MMS and MBA the same and equal?
MMS is a two-year post graduate program which AICTE approves. On the other part, MBA is a post-graduate management program.
- How to get admission to this course?
You can get admission to this course in two ways. You can also get direct entry if you get suitable marks. However, in some cases, you can also get access after clearing the test. You have to clear the test.
- Why should one study MMS?
If you study this course, you can get excellent jobs. It is a job-oriented course. Through this course, you can develop the leadership and managerial skills required to run a business. It will give you comprehensive options in the job sectors.
- What is the estimated cost of the course?
The cost of the course depends on the type of college you are selecting. However, the course fee varies from INR 50,000/- to INR 3, 00,000/-. You can also opt for an educational loan to meet the expenses of the course.
- What is the average salary of the candidate after completing the course?
As a beginner, you can earn INR 3 lakhs per annum. It will increase with your experience and performance. It may exceed INR 10 Lakhs per annum.
- What is the duration of the course?
MMS is a two-year course that is divided into four semesters. You have to qualify for all the semesters to complete the course. The course will include managerial economics, operations research, financial management, marketing management, negotiation, and selling skills. All these subjects are interesting.
- What are the job prospects of this course?
It is a fantastic course that can help get jobs as an account manager, brand manager, marketing manager, business manager and several other job roles. Each of these jobs will provide you complete exposure to the subject.
- What documents are required during admission to the course?
To get admission to this course, you must have valid graduation documents. In addition to this, you need to submit your identity proof. The college may also require passport-sized photographs. The documents need to be correctly signed and attested by the candidates. It is mandatory.
The master in management studies course is a top-level postgraduate course in the field of management and leadership similar to the MBA course. Candidates who have a bachelor’s degree in any stream can pursue this course and get job opportunities in different companies.
After completing the course, students can gen job opportunities in the country as well as abroad and earn handsome salaries.