In the MBA vs Masters in Managemnt battle, there is a clear demarcation in the types of jobs applicants get. Over the years as the Masters in Management has been gaining prominence, it has often been confused with a type of an MBA. Professors use actual business problems to help you consider solutions, and you’ll also learn from real-world projects—like creating a marketing plan to launch a new Burt’s Bees toothpaste. The MiM started out mostly in European universities and has in recent years grown exponentially, with a number of universities starting to offer it in English. After 4-5 years of work experience, you are more mature professionally to absorb the learning imparted during an MBA and undertake a more nuanced leadership training. One can easily get a Masters in Management degree with an investment of anything between 18,000$ to 35,000$ per year. Both MSc. Outside of Europe, the MiM is still relatively new and MiM students may have to give a formal introduction to what their degree is all about, especially if they are targeting a job outside Europe. The US business schools are still staunch supporters of the MBA, though in recent years famous schools such as Duke Fuqua, Michigan & Kellogg, have started offering the MiM and are attracting a huge number of students from all over the world because of it. The cost varies from school to school with German schools being the most cost effective, while schools in the US and the UK make the upper end of the tuition fees range. The MiM at HEC Paris costs up to €37,800 in tuition fees, compared with €66,000 for the French business school’s MBA program. Want to know which college is the best fit for you for your Masters Abroad? Almost every classroom course has a team project built into it which caters for a high percentage of the final mark. MIM Vs. MBA – Which is Better for You? So, while the MBA is targeting the experienced class of people having 3 or more years of work experience on average , the MiM is meant for fresh graduates or people having less than 2 years of work experience, who want to have a fast track career growth plan. In-company projects, business plan competitions etc are also common parts of courses. It is in stark contrast to MBA program, in which 60% of the applicants have more than 3 years of work experience. Here are the various aspects we would cover in this article –. Most Masters in Management’s don’t offer many electives and concentrate on the core courses. I have completed my BBA honors. and though this improves the quality of the MBA applicants, it also leaves a lot of young smart people disgruntled because now they will have to work and accumulate years of experience before they are eligible to apply for the MBA. Learn more about his GMAT Preparation journey in this article. MBA vs MiM. If you wish to specialize in your area of interest to boost your career, you may opt for a specialized MIM program. MIM programs equip the younger and fairly inexperienced entrants with preliminary business skills to start off their careers at junior-level managerial positions. Kellogg, IE Business School, Esade, Duke, Michigan Ross are few top business schools which offer 10-month MiM programs. Do you know, there is a positive correlation between your GMAT score and post-MBA Salary. After which I had started my own business in 2019. So while an MBA program, lets you take your career to the next level, an MIM program makes you more competitive as you enter the business job market and helps you accelerate the initial stages of your career. Additionally, as MiM colleges are making partnerships with universities all over the world the MiM name is gaining a formidable reputation. Once you are done with your bachelor’s degree and aspire to make a career in business management, the MBA (Masters in Business Administration) is one of the most common options you get to hear. Master in Management (MiM) programs are touted as mini-MBA or alternative to MBA, but several fundamental differences exist between the two. Irrespective of the choice, the future is bright for the applicants. In the end, it will turn out that both MiM and MBA have their legitimacy because they attract different target groups with different needs. Another minor difference can be seen in the form of the duration of the course. However, she is not sure which of the two programs is a better fit for her – MiM or MBA? MiM or MSc in Management, on the other hand, is aimed towards people just entering the job market or who have been working for a little time. This practical learning means that in an MBA you may be required to work with different financial tools, but you won’t be required to know or be taught the origins or the derivations of those tools, rather focus will be put on the application part. The key difference is that while both courses cover a range of business topics and general business principles, the MBA is usually designed for people with a … One thing to remember, though, is that both MBA and MiM are very competitive and require a strong profile, a good GMAT (think 700+) and well-crafted essays which talk about your strengths and how you will be a valuable addition to the school. The Masters in Management also shares a considerable amount of syllabus with the MBA, and has anything between 40-60% of course similarity, but the focus here is more theoretical, and critical thinking is encouraged. Check out our detailed report on the 11 major differences between the two and improve your understanding of the MBA vs Masters in Management phenomenon. Sign up for our free trial and we can help you with quality content to prepare and personalized study plan.

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