The MBA is a general management degree, and it is the most common degree for business professionals who are seeking to advance in managerial positions and has work experience of about 2-3 years minimum. A good GMAT score is also suggestible for top ranked Universities. Masters in Management is a basic degree that covers all the basic concepts of Management like Management Principles, Marketing Principles, Human Resource Management, Foundation of Accounting and Finance, etc. It does not require work experience or GMAT scores.