MBA vs MIM

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MBA vs MIM

Aspiring business professionals generally are required to make a choice between varied highly-rated management programs offered at universities across the globe. While the Master of Business Administration [MBA] is traditionally recognized as the go-to option, the Master of Management [MIM] is a well-received degree course specifically designed for young-age individuals. The MBA vs MIM debate has grown to divide opinions like no other dilemmas, except perhaps MBA vs MS, and deserves a feature-by-feature analysis. Here’s our take on the MBA vs MIM debate.

Basis of differences  MBA  MIM
Who it is for? Experienced professionals  Recent graduates 
Goals of applicants  Career development Kickstarting their career
Age  The average age of the applicants is 27 years  The average age of the applicants is 23 years 
Way of teaching Practical orientation  Theoretical focus 
Curriculum goal  Getting specialized industry knowledge  Building and layering a foundation
Tuition Fee High  Medium 
Popularity  Worldwide recognition  Recognized more in Europe 
Duration  1-2 years for full time  The average duration of a MiM course is 10-12 months 
Career opportunities  Mid-level positions  Entry or freshmen level positions 
Salary received  High, the average is $10,000 Moderate, average being $5,000
Reception by companies  High  Growing fast 

MBA vs MIM: Course Structure

The MBA qualification is a premium and popular management degree running for a period of 1-2 years which can also be considered as the most popular course in any discipline. The orientation of both courses differs on a large scale. MBA is more hands-on learning-oriented with a due focus on case studies as well as real-world examples that arise in the business world. Through experiential learning, candidates are able to logically analyze and investigate various business scenarios. MBA courses mainly emphasize imparting students with the knowledge of the application part of various financial tools that will help them in pursuing industry-led roles.  

On the other hand, Masters in Management (MIM) is a considerably similar course that majorly focuses on the theoretical part of the applications of management and encourages critical thinking. Generally, the duration of MIM courses is around 10-13 months. On average, MIM is 40- 60% similar to that of an MBA. It is believed that MIM programs have been mainly originated in Europe that aims to strengthen the theoretical groundworks of one before they kick start a career. 

Related Article: Everything You Need To Know About MBA Specializations

MBA vs MIM: Who is the Audience?

Both the programs have slightly different audiences though it is not defined and they tend to overlap. In particular, the MBA program is aimed at professionals who are in the age bracket of 25-28 years and above. On the other hand, the MIM caters to a slightly younger audience that hovers around the 21-24 age bracket. However, the age criteria in order to pursue a MIM in Canada and a MIM in Europe may be different and these age brackets are based on average data.

MBA vs MIM: Work Experience Required

As MBA programs aim to professionally upgrade one’s knowledge, thus, candidates willing to pursue an MBA degree require at least 3-5 years of industry experience depending on the needs of objectives. But the MIM degree, being more oriented towards young graduates requires 1-2 or can be pursued even without a considerate amount of work experience. When it comes to MBA vs MIM in terms of work experience, experienced professionals are more suited to understand the advanced modules in the former while a gradual process of knowledge growth is undertaken in the latter.

MBA vs MIM: Eligibility

To get into any of the two courses, it necessary for candidates to fulfill almost similar requisites. Since both the courses belong to the same domain of Management, the basic entry requisites of MBA vs MIM are-

Eligibility for MBA Courses 

  • Formal schooling of 10+2 from a recognized institution
  • A bachelor’s degree from a recognized university with a minimum GPA requirement
  • A good score in English-language proficiency tests such as IELTS, TOEFL or PTE
  • A valid GRE or GMAT score as per the university requirement.
  • Minimum 2 Letters of Recommendation (LORs) along with Statement of Purpose (SOP)
  • Minimum work experience of 3-5 years

Eligibility for MIM Courses 

In the aforementioned table, you will notice that the entry requirements are not that varied for both courses. But students must understand that the usually required score for entrance exams like IELTS, GMAT, etc with respect to the entire application, is more intricately examined in MBA courses as compared to MIM. In simpler words, one would need a better academic background along with higher score to secure a seat in MBA over MIM.

Check out our top reads: Master of Management Studies (MMS)

MBA vs MIM: Popularity of the Degree

The MBA still remains the most in-demand degree in the world, and for good reason. It provides a truly foreign experience as well as excellent post-graduation prospects. The names of the top B-schools that dominate the MBA rankings are familiar to most of us. Institutions and B-Schools like Harvard, Stanford, Wharton, HEC, LBS, INSEAD, MIT(Sloan) and etc. are considered to be the holy mecca for any business and management student from any part of the world. The MiM, on the other hand, is based on specific regions. The MiM began in European universities and has expanded rapidly in recent years, with a variety of universities now offering it in English. However, this degree is much more well-known in countries where it has long been practiced, such as France, Germany, and Italy, to name a few. As a result, the majority of MiM schools are situated in the European Union countries.

Must Read: MIM in Canada

MBA vs MIM: Course Duration 

Another small distinction is the length of the course. Due to the rigorous nature of the degree, MBAs usually have a 1-2 year course structure. The MiM provided by most business schools, on the other hand, is much more fast-paced, with the aim of providing you with the requisite skills and assisting you in entering the job market sooner. Though the typical MiM degree program lasts about ten months, some B-schools and universities have a more flexible curriculum that includes core classes, electives, and specializations. As a result, a MiM degree at such schools will last anywhere from 1.5 to 2 years.

Courtesy: Akshat Shrivastava

MBA vs MIM: List of Top Universities 

Here is a list of top universities for MBA and MiM courses according to the QS World University Rankings 2021:

Top MBA Colleges Around the World 

Top MBA Colleges  Location  Global MBA rankings 2021- QS
Stanford Graduate School of Business, Stanford University USA 1
Wharton School of the University of Pennsylvania USA 2
MIT Sloan School of Management USA 3
Harvard Business School, Harvard University USA 4
HEC Paris France  5
INSEAD FranceINSEAD Singapore France and Singapore 6
London Business School UK 7
Columbia Business School, Columbia University USA 8
IE Business School Spain 9
Haas School of Business, University of California, Berkeley USA 10

Top MIM Colleges Around the World 

Top MIM Colleges  Location  QS World University Rankings for MIM 2021
HEC Paris France  1
London Business School UK 2
Essec Business School France and Singapore  3
Esade Business School Spain  4
Copenhagen Business School Denmark, UK, Italy  5
IE Business School Spain  6
ESCP Business School France, Germany, UK, Italy 7
Imperial College London UK 8
Bocconi University Italy  9
EMLYON Business School France  10

Quick Read: Best MBA Colleges in World 2021

MBA vs MIM: Curriculum

This aids in the much more multidimensional growth of students. MBA courses impart students with specialized knowledge of the chosen domain along with in-depth knowledge of an array of core management subjects. MBA covers subjects on managerial functional level whereas MIM involves almost similar subjects with theoretical orientation through team projects, leadership projects, etc. The MBA Syllabus is a little more advanced and focuses on the development of a higher-level understanding of intricate subtopics within the branches of management. Whereas the MIM degree course includes both foundational modules as well as advanced-level subjects. Tabulated below are the core subjects that will help you decide between MBA vs MIM:

MBA General Topics and Subjects

MIM General Topics and Subjects

  • Business Ethics 
  • Corporate and Business Strategy 
  • Economics 
  • Entrepreneurship 
  • Operations Management  
  • Marketing 
  • Management Theory 
  • Managerial Accounting 
  • Organizational Behavior
  • Commerce 
  • Business Law
  • Manufacturing 
  • Tourism and Hospitality 
  • General Management
  • Taxation 
  • Statistics 
  • Finance 
  • Project management
  • Product management 
  • International Development
Courtesy: Mayank Sehgal

MBA vs MIM: Fees & Costs

Owing to the higher popularity afforded to MBA colleges across the globe, the tuition fees in the case of an MBA are resultantly higher. Although there are several factors involved such as destination, university, and unique course perks, it remains an expensive course to pursue. In comparison, the MIM tuition fees are lower in general. Furthermore, going for a MIM in Germany or other such locations affords candidates additional funding-related benefits.

MBA vs MIM: Post-Graduation Opportunities

There is a noticeable distinction in the sorts of employment available to MBA and MiM graduates. While an MBA indicates substantial job experience and can lead directly to a higher-level post, a MIM frequently leads to entry-level employment first. So, although an MBA degree allows you to advance your career, a MiM program makes you more competitive when you join the business job market and helps you expedite the early phases of your career. As a result, MBAs are typically seen as “experienced hires” by employers and are encouraged to apply for more advanced roles, such as leadership or management.

Must Read: Top MBA Colleges in India 2021 Rankings

MBA vs MIM in India  

While MiM is primarily a European phenomenon, Indian universities have lately caught up and begun offering similar degrees. The two programs appear to be identical, but there is a significant difference between the two courses that we have previously discussed in the preceding section of this blog. However, as compared to MBA, which is quite popular among Indian students and aspirants, MiM is still a new and specialized degree or specialty. 

Top MBA Colleges in India 

  1. IIM Bangalore
  2. IIM Ahmedabad
  3. IIM Calcutta 
  4. XLRI Jamshedpur 
  5. SPJIMR Mumbai 
  6. IIM Indore
  7. IIM Lucknow 
  8. ISB Hyderabad 
  9. MDI Gurgaon 
  10. Faculty of Management Studies, Delhi

MBA after MIM?

Yes, after completing a MiM degree or specialization, one can pursue an MBA. It really makes more sense to get a 1-year MBA after your MiM. After 4-5 years of work experience, you are professionally mature enough to assimilate the knowledge taught during an MBA and pursue more sophisticated leadership training.

You can also explore the following resources on the specific destinations known for both MBA and MIM degrees worldwide.

FAQs

Is MiM better than MBA?

Although both courses address a variety of business topics and basic business concepts, the MBA is typically geared for people who have a few years of work experience. The MIM is more of a career jumpstart for those who have little or no job experience and are fresh out of college.

What is the difference between an MBA and MiM?

MBA programs emphasize realistic applications of core principles, and students are often expected to bring real-world experiences into the classroom or apply what they’ve learned to their chosen industries. MiM students, on the other hand, learn mainly through classroom instruction and case studies.

Should I do MBA after MIM?

You don’t need to get an MBA now that you have a master’s degree in management. They have a lot in common. The MBA would have provided you with a broader understanding of all facets of the industry. Finance, Marketing, Logistics, Production, and other departments may be included.

Is MiM a good degree?

The MiM degree is regarded as a means of launching a business career. Graduates are often hired for entry-level positions, while MBAs, who typically have more experience, are typically hired for mid-level positions. Companies are eager to recruit qualified applicants from the pool of MiM and MBA graduates in either case.

Is GMAT necessary for MIM?

Unlike MBA programs, MiM does not require applicants to have professional job experience or significant achievements. It does, however, require the GMAT/GRE or other standardized tests to assess applicants on a similar baseline, much like the MBA.

Which country is best for MiM?

Check out the list of top countries offering MIM programs:
France
Germany
Spain
US
UK
Canada
Australia

In the MBA vs MIM debate, the bottom line is comprehending what the right course is for you, i.e. which fits your career goals and objectives. Take the assistance of the AI-enabled tool or sign up for a free 30-minute career counseling session with our experts at Leverage Edu and we’ll help you select the right degree and university as per your personalized interests and inclinations so that you can take a firm step towards a rewarding career

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