When European universities converted their degrees to Bachelor's and Master's degrees with the Bologna reform in the early 2000s and the first Masters in Management (MIM) programs were created, MIM programs in the USA were still a long way off. On the one hand, the Bachelor's and Master's system was already established - Europeans were adopting it from the Anglo-Saxon world, after all. Secondly, the MBA (Master of Business Administration) was the traditional management degree in the USA - and not a new type of degree program called Master in Management, which can be studied without professional experience.

Masters in Management versus Masters of Business Administration

In 2024, the educational landscape in North America has changed and the number of business schools offering Masters in Management programs is increasing. In March of this year, MIM COMPASS counted over 60 MIM programs - and even if they are not always called "Master in Management", what they have in common is that they can be studied without professional experience, require a first university degree, last no longer than one year and teach general management. By way of comparison, the MBA also teaches general management knowledge and requires a first degree. In addition, however, students must have at least three years of professional experience and usually study full-time for two years (or several years part-time) in order to obtain the degree.

New: the Master in Management from the Booth School of Business, University of Chicago

One of the newest programs of this type is the Master in Management from the Booth School of Business at the University of Chicago. At ten months in length, it is one of the shortest MIM programs in the world. In contrast to the MBA, it is explicitly aimed at career starters and aims to provide its students with the best possible prerequisites for a career in management. A first degree is required, but not necessarily in the field of economics. The Booth Master in Management therefore also focuses on diversity among its students. The program starts in the fall of each year - and anyone who still wants to apply this year can do so until June.