|Full Form||Master in Management Studies|
|Duration||Course Duration of Master in Management Studies [MMS] is 2 Years.|
|Age||No specific Age Limit|
|Subjects Required||A Bachelor's degree in Management or its equivalent|
|Average Fees Incurred||INR 60,000 - 4.25 lakhs per annum|
|Similar Options of Study||MMM, MAM, MCM, MHM, MTM, MBA etc|
|Average Salary Offered||INR 6.88 lakhs per annum|
|Employment Roles||Business Development Manager, Marketing Manager, Project Manager, Financial Analyst, Operations Manager, Process Analyst, Senior Marketing Manager, Senior Business Analyst, Marketing Executive etc.|
|Placement Opportunities||Ernst & Young, Deutsche Bank, Infosys BPO, Tata Consultancy Services Limited etc.|
Master in Management Studies, abbreviated as MMS, is a post-graduate course in Management Studies. The course duration for MMS course is 2 years. As the name implies, the Master in Management Studies [MMS] course focuses on the domain of management studies. Basically, it is a management education program. This course is aimed at promulgating management skills and knowledge about the same to graduates.
Students who aspire to undertake this course are required to have a Bachelor's degree in Management Studies or its equivalent courses. Some of the top colleges in India which offer a course in Master of Management Studies [MMS] are:
Managers play a pivotal role in any organization and ensure the smooth execution and timely completion of targets. There are certain procedures for applying to this course which an applicant ought to be aware of. Candidates need to fulfil certain eligibility criteria to gain admission to this course. The course is evaluated on the basis of the following:
Management is defined as the actions of incubating the policy of an organization and regulating the efforts of its workers/volunteers to fulfil its purposes via the utilisation of accessible devices namely
A Master in Management Studies [MMS] course is essentially aimed at providing a deep insight into business strategies, the psychology behind these strategies and finance management. Social scientists consider management as an educational discipline, examining areas such as organizational direction and social organization. The average course fee for MMS course ranges between INR 3-4 lakhs.
Government colleges are known to charge lower course fees as compared to private colleges. Average fees in private colleges could be anywhere between 50,000-1,00,000 INR per semester. The course duration is two years which is divided into four semesters. MMS syllabus for this course has been mindfully designed to instil an innate understanding of Management Studies in students.
Master in Management Studies [MMS] is a global market-oriented course and consequently caters to an international audience. This course helps students develop plenty of leadership and managerial skills and include vital internship opportunities which provide a much needed practical experience in management.
In addition to the in-depth theoretical knowledge, candidates are also offered a wide range of interesting electives such as the psychology of money, e-commerce, business ethics and so on. Due to worldwide partnerships between universities and corporations, some MMS programmes also provide aspirants with the opportunity to gain international experience and travel to several different countries to gain insights from leading global experts in the field.
The field of management requires a diverse amount of knowledge of many related subjects. This course addresses this need by including classes on a diverse set of topics, including:
On completion of this course, candidates are offered a wide variety of lucrative MMS job opportunities with substantial remuneration.
The aspirants of Master in Management Studies [MMS] have to prepare for a series of gruelling examinations to prove their credentials and gain admission into the top MMS colleges in the nation by dint of merit:
Common Admission Test [CAT]: This is the top-level exam conducted by the Indian Institute of Management(s) [IIMs] and is preferred as the qualifying exam by most top management institutes and B-schools in India.
Xavier Aptitude Test [XAT]: Final year students and students with Bachelor's degrees can apply for this exam, conducted by the Xavier School of Management.
Graduate Management Aptitude Test [GMAT] Conducted by the Graduate Management Admission Council [GMAC], this exam is the qualifying examination for admission into colleges governed by GMAC.
Common Management Admission Test [CMAT]: Conducted by the All India Council for Technical Education [AICTE], this exam is widely accepted as a qualifying exam by a large number of government-sponsored management and business institutes in India.
Management Aptitude Test [MAT]: Conducted by the All India Management Association [AIMA], this exam is also considered as a hallmark for admission into government colleges and universities in courses such as MMS.
AIMS Test for Management Admissions [ATMA]: Conducted by the Association of Indian Management Schools [AIMS], the exam is accredited by the MHRD and is convened by several colleges for admission into their management courses.
NMIMS Management Aptitude Test [NMAT]: Conducted by the Narsee Monjee Institute of Management Sciences [NMIMS], this exam is considered as the qualifying exam for the institutes and universities under the tutorship of Narsee Monjee group of institutes for their MMS course.
Symbiosis National Aptitude Test [SNAP]: Conducted by Symbiosis International (Deemed University), this exam is the qualifying exam for the management courses in Symbiosis University.
Indian Institute of Foreign Trade [IIFT]: Conducted by the IIFT, this exam is the benchmark for admission into the IIFT group of colleges for their management and business programs.
Institute of Rural Management Anand [IRMA]: Conducted by the IRMA, this examination is the hallmark for admission into the IRMA college and is taken as the qualifying exam for their management and business courses.
MICA Admission Test [MICAT]: Conducted by MICA Ahmedabad, this examination is the benchmark for admission into the MICA group of colleges in Ahmedabad into their management and business courses.
Here are a few common preparation tips candidates should follow to clear the entrance exams for Master in Management Studies [MMS]:
Knowledge of the exam paper pattern: The paramount step in preparing well for the entrance exam is a deep-rooted understanding and comprehension of the paper pattern and the syllabus.
Effective time management: Focus points should be kept in mind, with special emphasis on weaker subjects and the daily practice of numerical problems. A timetable should be drawn and the candidate should follow the timetable with dedication and diligence.
Enrolling in coaching institutes: A coaching class or a tutor especially for clearing the entrance exam is an added bonus as the teacher will help a candidate to focus on weaker zones and will aid in practice and comprehension of topics.
Practice makes perfect: Candidates should practice and revise before the exam so that it reduces the unnecessary pressure one day before the examination.
The subjects pursued in the Master in Management Studies [MMS] curriculum in most colleges across the nation are enlisted below. While there may be minor variations observed in the curricula of a few colleges, the major crux of the subject composition remains the same.
The average course fees for the Master in Management Studies [MMS] curriculum ranges between INR 60,000 and INR 4.5 lakhs per annum. This amount may vary based on the prestige, infrastructure and faculty of the institute or college in which the aspirant seeks admission as well as the government and management quotas.
The course syllabus included in the curriculum of the Master in Management Studies [MMS] course is tabulated below. While minor deviations may be observed in a few colleges across the nation, the crux of the syllabus structure remains the same.
|Sl. No.||Semester 1|
|9||Management Information System|
|10||Electives: Negotiation Skills, Indian Ethics Management|
|Sl. No.||Semester 2|
|1||Cost and Management Accounting|
|4||Human Resource Management|
|5||Business Research Methods|
|6||Legal Aspects of Business & Taxation|
|7||Electives: Rural Marketing, Event Management, International Finance, Supply Chain Risk & Performance Management, Software Quality Assurance & Marketing|
|Sl. No.||Semester 3|
|3||Summer Internship Report|
|1||Consumer & Industrial Buying Behavior|
|2||Sales Management & Sales Promotion|
|3||Product & Brand Management|
|4||Financial Aspect of Marketing|
|1||Advance Financial Management|
|2||Security Analysis &Portfolio Management|
|1||Organisational Theories and Structure Designs|
|2||Training and Development|
|3||Introduction to Industrial Relation & Labour Welfare|
|4||Competency & Performance Management|
|5||HRP & HRA|
|1||Manufacturing Resource Planning and Control|
|2||Business Process Re-engineering & Benchmarking|
|3||Materials Management & Transportation|
|4||Advanced Supply Chain Management|
|SYSTEMS (Information Technology)|
|2||Networking and Communications|
|4||Database Management Systems|
|6||Electives: Marketing Research & Analytics, Product & Brand Management, Corporate Valuation, Security Analysis &Portfolio Management, Labour legislation, Quantitative Methods In Operations, Managing Technology Business, E-Commerce|
|Sl. No.||Semester 4|
|1||Management Control System|
|2||Business Ethics & Corporate Governance|
|6||Productivity Techniques or Total Quality Management OR Project Management|
The candidate must have secured at least 50% marks in his/her higher Secondary examinations (ISC, CBSE) or its equivalent. This criterion is subject to modification depending on the university. The candidate must have a Bachelor's degree in Management Studies or its equivalent courses.
Most colleges provide admission based on the score obtained in the relevant entrance exams. Additionally, some colleges/universities also conduct a personal interview and group discussion sessions and permit admission to the course on the basis of the candidates' performance in the same.
Some of the most lucrative job opportunities available to aspirants of Master in Management Studies [MMS] are listed below:
The average course salary of an aspirant of Master in Management Studies [MMS] course is INR 6.88 lakhs per annum. This amount varies based on the sector and firm of employment of the aspirant as well as his or her diligence, dedication and seniority at the workplace.
The top colleges in India for the pursuance of Master in Management Studies [MMS] course are listed below:
|Sl. No.||Name of College|
|1||Shailesh J Mehta School of Management, IIT Bombay, Mumbai|
|2||Jankidevi Bajaj Institute of Management Studies, Mumbai|
|3||Indian Institute of Management, Ahmedabad|
|4||Indian Institute of Management, Calcutta|
|5||Indian Institute of Management, Tiruchirapalli|
|6||Sydenham Institute of Management Studies, Research & Entrepreneurship Education, Mumbai|
|7||Department of Management Studies, Bangalore|
|8||Prin LN Welingkar Institute of Management Development, Bangalore|
|9||Thakur Institute of Management Studies and Research, Mumbai|
|10||Alamuri Ratnamala Institute of Engineering and Technology, Thane|
Distance or correspondence education in Master in Management Studies [MMS] is provided by the Institute of Chartered Financial Analysts of India [ICFAI] Foundation for Higher Education.