So, what is a MASTER?
On the higher education ladder a master’s degree is one step beyond a bachelor’s and one rung below a PhD. They’re often concentrated in one specific area of a wider subject, giving students the opportunity to specialize in their chosen field. Master’s programs fall into a wide range of categories, with the most common being a Master of Arts (MA) and Master of Science (MSc). MA degrees encompass the likes of social sciences, arts, humanities and business, whilst a typical MSc degree covers science, tech, engineering and maths.
Over the years a master’s degree has gone from a niche qualification held by a privileged few to the fastest-growing tertiary qualification in the United States. Between 2000 and 2018, the number of US citizens with a master’s went from 10.4 million to 21 million: a 101% increase[source]. This figure tells us one thing: it’s no longer enough to just hold a bachelor’s degree. A master’s degree is now THE essential tool to stand out in a crowded global job market and to truly become a master in your field.
Today, the most popular field for a master’s degree is business. Within that area one of the fastest-growing programs is the one-year Master in Management (MiM). It is seen by some as a precursor to the Master of Business Administration (MBA), giving students the opportunity to gain a prestigious business degree at an earlier stage in their professional career. European business schools account for 85% of all MiM programs worldwide, with students attracted to the more affordable tuition fees compared to MBAs as well as the lower entry barriers in terms of work experience. And as business courses have gradually risen in popularity to become the de rigueur master’s degree all over the world, it is the MiM which continues to power that growth.