After considerable reflection, you’ve decided to pursue either a Master of Management (MMgt) or a Master of Business Administration (MBA). To make your decision easier, let's look at the different aspects of both.
What is an MMgt?
To compare it to an MBA, it’s helpful to define what an MMgt is. The MMgt at the University of Niagara Falls Canada (UNF) is a graduate degree program that shapes the leaders of tomorrow through a firm foundation in business management principles with a digital-first focus. Students can choose from two specializations: Entrepreneurship and Emerging Technologies.
What is an MBA?
Now that you have a clear definition of an MMgt, what’s an MBA? An MBA is a graduate degree that shapes the leaders of current institutions by combining participants with extensive work experiences with content that focuses on applying business principles, leadership skill development, and strategic decision- making. focuses on business administration. Students are exposed to numerous subjects that can include accounting, marketing, finance, and human resources.
Difference between an MMgt and MBA
An MMgt equips students to advance their careers through leading people and operations within a any organizations or industries. While MBA graduates also look to advance their careers, their education is often tailored towards their current organisation or industry needs and expectations.
MMgt versus MBA: Admission and application requirements
For UNF’s MMgt program, basic admission requirements include a recognized four-year honours degree in any discipline with a CGPA equal to or greater than 3.0 on 4.33 scale. Admission requirements for MBA programs vary by school but generally require an undergraduate degree and extensive work experience.
MMgt versus MBA: Program comparison
The comparison of an MMgt versus an MBA is a difficult one, as they are both an opportunity to broaden your knowledge and bring you closer to your dream career. Before you make your final decision, here are some additional factors to consider:
1. Professional experience
MMgt curriculum guides you through foundational business and management principles, which are a necessary introduction for recent graduates and a helpful refresher for experienced professionals. Offering you a strong foundation to advance your managerial competence through practical application and applied projects.
MBA students, on the other hand, work best for individuals with years of professional experience within an industry who are looking to advance their careers within that industry by building on the knowledge and professional relationships that they have.
2. Focus areas
Students with a background other than business can customize their MMgt experience to fit their individual aspirations. Let’s say you have a degree in fashion design and want to open a clothing store. An MMgt program will show you how to identify business opportunities, create a plan for your store, and develop strategies to get it off the ground. You’ll graduate as an exceptional fashion designer with an entrepreneurial focus and with the knowledge to grow the business. .
While an MMgt focuses on a broad application of management and business development, an MBA focuses deeply on business functions: such as finance, marketing, strategy, operations, human resources; that allow participants to advance their careers in leadership often within a specific industry focus in relation to the experience of the participant.
3. Length of study and flexibility
UNF’s MMgt program is designed to be completed within 18 months, with four start dates throughout the year. Additionally, our online program offers the same benefits of in-person study in a remote, asynchronous format for students who need to balance other commitments. In contrast, MBA programs usually require two years of dedicated full-time study, although some schools do offer part-time and online options.
MMgt versus MBA : Tuition
UNF’s tuition is determined by the total cost of individual credits. To make your education as accessible as possible, we also offer a wide array of awards and scholarships.
MBA tuition costs are determined by the institution and length of the program. No matter which program you choose, remember to consider other expenses alongside tuition, such as relocation, transportation, and accommodation.
MMgt versus MBA: Salary and career outlook
Because MBA graduates have prior work experience, their average salaries are usually slightly higher than those of MMgt graduates. However, UNF’s MMgt program includes both theoretical concepts and practical experience, which make our graduates prime candidates for progressive management roles in fields like finance, marketing, and business development. Possible career opportunities and salaries include:
- Brand manager: $192,540
- Financial consultant: $150,958
- Healthcare manager: $153,902
- Logistics coordinator: $101,035
- Operations manager: $136,591*
*Source: talent.com
Advantages of an MMgt over an MBA
With a strong digital mindset, UNF MMgt graduates are prepared for the workforce of tomorrow and can help businesses adapt to emerging technologies quickly and efficiently. This is put into practice with a capstone research project, which, depending on your specialization, will involve creating a business plan for a new organization or developing a technology proposal and implementation plan for an existing one.
Ready to apply for an MMgt or MBA?
To start your successful journey in the ever-evolving digital economy, we welcome you to begin your MMgt application. If you have questions about the process, UNF’s student advisors are available for assistance.
