There’s A New Major Player On The U.S. Master In Management Scene

The Master in Management continues to gain traction in the United States. A second leading U.S. business school has announced this summer that it will launch a MiM degree, bringing to 12 the number of top-25 B-schools with such offerings.

Emory University’s Goizueta Business School announced Wednesday (August 16) the creation of a new 10-month MiM program, for which the first class of students will enroll in the fall of 2024. With tuition of $62,800 and a projected total cost of just under $100K, the Goizueta Master in Management fits squarely in the middle of the nearly three dozen MiMs offered at U.S. B-schools in terms of expense.

Why a MiM, and why now? Usha Rackliffe, associate dean and academic director for Emory’s new Master in Management program, echoes her peers in saying the degree — which is typically designed for non-business undergraduates with little to no work experience — appeals to a broad cross-section of college students seeking skillsets they may not have gained in four years of undergrad study.

“This generation of students cares deeply about the world and their place in it, whether it be the arts, music, literature, the environment, or other fields,” Rackliffe tells Poets&Quants. “The new Master in Management gives them the tools to put that passion to work for both them and society as a whole.”

PROGRAM WON’T BE STEM BUT WILL HAVE ‘COMPREHENSIVE’ CAREER SUPPORT

Emory Goizueta follows the University of Chicago Booth School of Business in establishing a new Master in Management program this summer. Poets&Quants has compiled a list of 33 Master in Management programs at 29 B-schools in the United States, ranging widely in cost, mode of delivery, admission requirements, and class composition. Some, like the programs at Florida Warrington College of Business and Fordham Gabelli School of Business, can be done fully online or in-person; some, like the MiMs at Texas-Dallas Jindal School of Management and George Washington School of Business, can be done in blended fashion. A few — like the Illinois Gies College of Business’ iMSM, Michigan State Broad College of Business’ Online MS in Management, Strategy & Leadership, and Northeastern D’Amore-McKim School of Business’ Master of Science in Management, are entirely online.

Emory’s tuition for its in-person, 10-month MiM makes it slightly more expensive than the Master in Management degrees at Duke Fuqua, Northwestern Kellogg, and Cornell Johnson and less costly than those at Boston Questrom, George Washington, and NYU Stern.

Cost of Emory Masters in Management	$63,900
Tuition	$62,800
Mandatory Fees	$880
Application / Transcript Fees	$220
Other Estimated Costs	$34,656
Living (approx.)	$27,186
Books (approx.)	$2,000
Health Insurance (approx.)	$4,762
Parking (approx.)	$708
TOTAL COST	$98,556

The Goizueta School’s MiM is designed for graduates with a non-business major who are looking to “level up” their undergraduate degree with business skills. In the first semester, students learn about the fundamental areas of business, including finance, accounting, marketing, and management, while acquiring professional development skills and organizational capacities. In the second semester, electives provide flexibility for students to tailor learning experiences to specific interests. The curriculum culminates with a hands-on immersive elective in which students work on a project of their choosing and apply their new knowledge in a real-world setting.

Like Chicago Booth’s newly announced program — but unlike many other U.S. MiMs — Emory Goizueta’s new program will not be STEM (Science, Technology, Engineering and Math) eligible, Rackliffe says. However, she adds that the program will provide “comprehensive” support for career development, including one-on-one career coaching and recruiter outreach.

“Fortunately, our school is led by a new dean who has a vision to develop new programs that will leverage our capacities and serve market needs,” Rackliffe says. “Of those, the Master in Management was an excellent option because the faculty resources and community connections to deliver the degree are already in place. Also, current marketplace conditions create a timely opportunity to assist students with strong liberal arts passions, but without academic business backgrounds, in finding opportunities to launch careers.”

GOIZUETA’S MiM WON’T DRAW TALENT AWAY FROM ITS 1-YEAR MBA

Emory University is located in Atlanta, the ninth largest metropolitan area in the United States which serves as the headquarters for 17 of the Fortune 500 companies and where 75% of Fortune 1000 companies have offices — all of which will benefit future MiM graduates, Rackliffe says, by “enabling us to have a rich network of partnerships and relationships with countless opportunities for curricular and co-curricular programming and employment.”

The MiM movement in the U.S. is strong, she says, because “employers recognize that people who are passionate about their majors are motivated both intrinsically and extrinsically; they are self-motivated because they are doing what they love. The Master in Management infuses them with business knowledge and gives them the confidence to succeed. Our own commissioned report provided data that the market for students who hold an Master in Management degree is robust, the Graduate Admission Council Corporate Recruiter’s Survey similarly validated the market, and benchmarking placement data from peer schools with the same type of program affirmed this hypothesis.”

Rackliffe does not expect the addition of a MiM to deter applicants from the Goizueta School’s one-year MBA, which is among the top accelerated MBA programs in the U.S.

“The markets and offerings are very different,” she says. “The Goizueta one-year MBA is a 12-month program for students with at least three years of work experience and relevant business backgrounds who are continuing along an already-established career path. The program begins with an intensive core curriculum followed by electives that all build on students existing foundational business knowledge to create functional expertise.

“In contrast, the 10-month Master in Management program targets students with no business education or foundation and no meaningful work experience who are just launching their careers. The intent is to build on their existing passions in non-business fields by augmenting that knowledge with business frameworks and foundations. The electives offered to Master in Management students are specific to the population we plan to serve. Electives are not intended to build functional expertise but rather to provide exploratory insights. In combination with the signature immersive project, the curriculum prepares Master in Management graduates to understand the functions of an enterprise and how they interrelate, to be conversant across a wide range of business issues, and to have the tools and experience required to be valuable contributors to the organizations they pursue, in whatever fields they choose to enter.”

FORESEEING CONTINUED GROWTH IN THE MiM SECTOR

Who is the target for the new Goizueta MiM?

“We see our target population as an exciting and underserved market of new or recent graduates who want to combine other areas of interest with management education they have not previously acquired,” Rackliffe says. “We are delighted to be an early entrant in the U.S. market and foresee continued growth in the types of offerings we can make available to this group of students.”

Learn more about Emory Goizueta’s Master in Management program here.

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