Master in Management Studies, abbreviated as MMS, is a 2 years postgraduate course divided into 4 semesters which includes theory classes, practical projects and internships.
The MMS course focuses on the domain of management studies and is aimed at promulgating management skills and knowledge about the same to graduates. The minimum eligibility to undertake the MMS course is to have a Bachelor's degree in Management Studies or its equivalent courses.
This course is open to students from all streams, i.e., Science, Humanities & Commerce.
|KJ SIMSR Mumbai MMS Admissions||IIT Bombay MMS Admissions|
Master in Management Studies can be pursued right after graduation and is designed to develop business management skills and provide relevant training to individuals planning to make a career in the field.This course is approved by the All India Council for Technical Education (AICTE), New Delhi.
Some of the top MMS colleges in India which offer a course in Master of Management Studies are:
|NIRF Rank||College||Admission Process||Average Annual Package (in INR)|
|10||IIT Bombay||60% in Bachelor's degree||13 lakhs|
|26||ICFAI Foundation for Higher Education||ATIT/ ILSAT / IBSAT||7.8 lakhs|
|54||K J Somaiya Institute of Management Studies and Research||MAH MMS CET followed by counseling||7 to 8 lakhs|
|73||SRM Institute of Technology||Min. 50 percentile in entrance exams||3.5 lakhs|
|76 - 100||Jain University||Jain Entrance Test||10 lakhs|
The course fees for the Master in Management Studies [MMS] curriculum ranges from INR 60,000 for government colleges and upto INR 10 lakhs per annum for private colleges.
Check the list of top MMS entrance exams in India
The various job profiles available to MMS graduates are Business Consultant, Marketing Manager, Finance Manager, Operations Manager, Sales Manager.
The average course salary of an aspirant of MMS (Master in Management Studies) course is around INR 6 to 8 lakhs per annum.
The Master in Management Studies or MMS admission process is merit based while some colleges are also known to conduct their own qualifying entrance examination in order to select deserving students.
Following are a few entrance tests that are conducted by some of MMS colleges in India:
|Name||Date of Exam|
|MHT CET||Dates to be announced|
|CAT||November 20, 2020|
|ATMA||February 09, 2020|
|MAT||May 03,2020 (CBT) May 16, 2020 (PBT)|
|GMAT||September to December|
|Andhra Pradesh Integrated Common Entrance Test||April 27, 2020|
MMS Entrance Exam Tips
Given below are some of the main highlights of the course:
|Course Level||Post Graduation|
|Admission Process||Merit based Entrance Exam|
|Examination Type||Annual and Semester|
|Average Course Fees||Around INR 50,000 for government colleges and upto INR 10 lakhs per annum for private colleges|
|Average Starting Salary||INR 3 to 10 lakhs per annum|
|Job Profiles||Investment Banker, Hedge Fund manager, Project manager, Management consultant, Business Manager, Account Manager, Brand Manager, Card Payments Operations Head, Equity Research Analyst etc.|
|Top Recruiting Areas||Banks, Business Consultancies, Brand & Marketing, Non-profit Organizations, Personal Business, Educational Institutes, Export Companies, Financial Organizations, Industrial Houses, Multinational Companies etc.|
|Top Recruiting Companies||McKinsey & Company, Boston Consulting Group, Bain & Company, Merrill Lynch & Co, Deloitte Consulting LLP, Lehman Brothers, JP Morgan, etc.|
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 financial, natural, technological, human resource.
MBA (Masters in Business Administration) and MMS (Masters in Management Studies) are both masters-level courses in business education. In fact, they both cover the same subjects which confuses a lot of fresh graduates preparing for CAT.
The table below will elucidate the major differences between MBA and MMS course.
|Qualification||Masters in Management Studies||Masters in Business Administration|
|Objective||MMS is intended to inculcate in the students- theoretical knowledge as well as a substantial practical matter as universities have influential collaborations with organizations to grant trainees experience of the clientele in the business||MBA course is designed to inculcate in the students a theoretical and classroom-based knowledge of the management aspect of a business without necessarily including practical experience.|
|Eligibility||Bachelor's degree in any stream||Bachelor’s degree with a minimum of 50% aggregate|
|Duration||2 years||2 years|
|Average Fees||Around INR 50,000 for government colleges and upto INR 10 lakhs per annum for private colleges||INR 2-20 lakhs|
|Colleges||IIT Bombay, ICFAI Foundation for Higher Education, K J Somaiya Institute of Management Studies and Research, SRM Institute of Technology, Jain University||IIM Bangalore, SPJIMR Mumbai, MDI Gurgaon, XLRI Jamshedpur, IIT Kharagpur|
|Placement Package||INR 3 to 10 lakhs per annum||INR 5 to 9 lakhs per annum|
Candidates who opt for specialization, will be required to study topics related to that particular specialization in the second year, followed by projects and internship. Some of the popular specializations offered in the MMS programme are listed below.
|Average Course Fees||INR 30,000 to 5 lakhs|
|Average Starting Salary||INR 3 to 5 lakhs per annum|
Marketing Management - MMS in Marketing is the process of creating interest in customers regarding goods or services. It is done through a technique that underlies sales techniques, business communication, and business development.
|Average Course Fees||INR 5,000 to 15 Lakhs|
|Average Starting Salary||INR 3 to 10 lakhs per annum|
Finance Management - MMS in Finance prepares students to handle management issues in areas of business that involve dealing with money and investments. The course gets into depths of investing altogether sorts of derivatives markets, Portfolio management, financial regulations, International finance etc. giving a proper understanding of the Finance world.
|Average Course Fee||INR 2 to 8 lakhs|
|Average Starting Salary||INR 8 and 10 lakhs per annum|
Operations Management - MMS in Operations Management provides deep knowledge in business, economics, psychology, sociology and strategy. This program helps the students to improve in organizational behavior and business operations. The main objective of this course is to take care of the strong foundation in effective management practice within the industry.
|Average Course Fees||INR 3 to 4 lakhs|
|Average Starting Salary||INR 45,000 to 6 lakhs per annum|
Information Management - MMS in Information Technology prepares the student to get an insight regarding the core competencies of the sector. Candidates acquire skills and knowledge of the industry which might help them apply the resources for gaining maximum productivity.
|Average Course Fees||INR 1,30,000 to 2,50,000|
|Average Starting Salary||INR 7 to 12 lakhs per annum|
The course syllabus included in the curriculum of the master in management studies may have minor deviations with respect to colleges across the nation, the major syllabus structure remains the same.
The basic course structure of MMS is tabulated below.
|Semester 1||Semester 2|
|Operations Management||Marketing Management|
|Business Statistics||Operations Research|
|Managerial Economics||Financial Management|
|Perspective Management||Human Resource Management|
|Effective and Management Communication||Legal Aspects of Business and Taxation|
|Financial Accounting||Business Research Methods|
|Information Technology for Management||Analysis of Financial Statements|
|Negotiation and Selling Skills||Entrepreneurship Management|
|Semester 3||Semester 4|
|International Business||Project Management|
|Strategic Management||Final Project|
Most colleges and universities admissions are based on the score obtained by the applicants in the relevant entrance exams conducted by them. The final selection includes a private interview and a group discussion session that lets the admission of the candidate within the MMS course.
Following are some of the best MMS colleges in India:
|College Name||City||Average Annual Fees||Annual Placement Package|
|IIT Bombay||Mumbai||INR 4,36,600||INR 13 lakhs|
|ICFAI Foundation for Higher Education||Hyderabad||INR 35,000||INR 7.8 lakhs|
|K J Somaiya Institute of Management Studies and Research||Mumbai||INR 3,32,855||INR 9.87 lakhs|
|SRM Institute of Technology||Kanchipuram||INR 3,48,250||INR 3.5 lakhs|
|Jain University||Bangalore||-||INR 7 lakhs|
|Bharati Vidyapeeth Deemed University||Pune||INR 1,92,300||INR 3.5 lakhs|
|Indian Institute of Science||Bangalore||INR 1,66,500||INR 15 lakhs|
|Sydenham Institute of Management Studies and Research and Entrepreneurship Education (SIMSREE)||Mumbai||INR 69,000||INR 12 lakhs|
|Indian institute of Science, Department of Management Studies||Bangalore||INR 1,66,500||INR 10.2 lakhs|
|Xavier Institute of Management and Research||Mumbai||INR 2,60,000||INR 6 lakhs|
The following table shows a comparison between some of the best MMS colleges in India.
|Parameters||ICFAI Foundation for Higher Education||SRM Institute of Technology||SIMSREE Mumbai|
|Overview||The ICFAI Foundation for education is a member of the Association of Indian Universities (AIU) and Association of Commonwealth Universities (ACU) offering many UG, PG, PhD & Certificate level courses.||SRM University is one of the top-ranking universities in India offering a good range of undergraduate, postgraduate and doctoral programs in Engineering, Management, Medicine, Health Sciences, Science and Humanities.||SIMSREE is a popular management institute in India which offers courses at the postgraduate and doctoral level within the field of management. SIMSREE accepts merit scored in national level examinations of – MAH CET or CAT/ XAT/ MAT.|
|Specialization Subjects||Marketing, Finance, Operations, Human Resource Management||Banking and Financial Services||Offers only the general course.|
|Average Fees||INR 70,000||INR 3,65,000||INR 1,38,000|
|Average Salary||INR 6.9 lakhs per annum||INR 5 lakhs per annum||INR 12 lakhs per annum|
The job sectors or placement areas for MMS graduates cover a large field, for example, banks, business consultancies, brand and marketing, NGOs, educational institutes, export companies, financial organizations, industrial houses and MNCs.
Some of the most lucrative job opportunities available to aspirants of MMS are listed below:
|Job Profile||Job Description||Average Salary (in INR)|
|Account Manager||Account managers develop relationships with customers, connect with key business executives and stakeholders and preparation of sales reports.||5,93,255|
|Brand Manager||Brand managers monitor market trends and oversee advertising and marketing activities to make sure the proper message is delivered for his or her product or service.||10,36,780|
|Recruitment Manager||Recruiting managers, also known as HR managers, who work within the field of human resources to find new talent. They find out applicants for job openings and conduct interviews.||9,33,871|
|Marketing Manager||Marketing managers manage the promotion and positioning of a brand or the products and services that a company sells.||7,12,354|
|Management Consultant||Management consultants work with company leadership to assess the company and identify problems, gather information, and implement solutions.||11,44,591|
|HR Business Partner||HR Business Partners report on HR metrics, enhance workforce retention, predict staff needs, manage termination processes and risk, ensure staff wellness, and compliance regulations.||7,79,275|
|Finance Manager||Financial Managers provide advice on investment activities and provide strategies that the corporate should take while recommending further courses of action.||9,99,394|
|Equity Research Analyst||Equity research analysts are responsible for creating reports, conducting research, analyzing financial information, and making predictions regarding financial matters.||4,95,965|
|Project Managers||Project managers plan and oversee projects to ensure they are completed timely and within budget.||14,89,253|
|Business Consultant||Business consultants are usually involved in areas such as marketing, human resources, management, finance and accounting. Business consultants improve companies' operations by assessing weaknesses and recommending business solutions.||9,86,106|
Following graph shows the salary for some of the major MMS Job profiles:
Students after pursuing MMS usually go for jobs, but PhD can also be taken up if there is keen interest in doing research in the interested field of specialization.
To pursue a PhD, the eligibility criteria include 50% or more marks in the post-graduation and students are also required to take up an entrance exam. It takes 3 years to complete a PhD course after MMS.
Ques. Is there any entrance exam for MMS?
Ans. Maharashtra CET for MBA/MMS or MAH-CET is a common entrance exam for admission to state level management institutes. The exam is held in March and the counselling process is conducted in July-September.
Ques. Which one is better: MBA or MMS?
Ans. There's no difference between the 2 of them because it is simply a case of University nomenclature (the term MMS is employed in Maharashtra in situ of MBA). These courses are offered by AICTE affiliated universities and thus everything is set by the University and therefore the Colleges simply follow the guidelines handed down to them.
Ques. Which one is better: PGDM or MMS?
Ans. It is always better to opt for a PGDM program. This is mainly because PGDM programs tend to be industry specific and offer the students with the most industry relevant courseware. Whereas, MMS being affiliated by a university generally offers outdated courseware to its students.
Ques. What are the documents required for reserved category students for enrolling in MMS program?
Ans. Students belonging to the reserved category are required to submit the following documents at the time of admission:
Ques. What are the career options for students completing MMS?
Ans. Students successfully completing MMS can pursue a career in banks, industry, financial sectors, consultancies, as well as large corporate organizations.
Ques. Is management studies a good degree?
Ans. Studying a management degree gives graduates a broad knowledge of business, finance, economics and marketing, as well as a range of practical skills and work experience, making them highly demanded by graduate employers for graduate training schemes.