MBA vs MIM

Rating:
5
(1)
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 recognised 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.

MBA vs MiM: Quick Overview 

Basis of differences MBA MiM
Who it is for?Experienced professionals Recent graduates 
Goals of applicants Career developmentKickstarting their career
Age Average age of the applicants is 27 years Average age of the applicants is 23 years 
Way of teachingPractical orientation Theoretical focus 
Curriculum goal Getting specialised industry knowledge Building and layering a foundation of once career
Tuition FeeHigh Medium 
Popularity Worldwide recognition Recognised more in Europe 
Duration 1-2 years for full time Average duration of an MiM course is 10-12 months 
Career opportunities Mid level positions Entry or freshmen level positions 
Salary received High, average being $10,000Moderate, 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 analyse and investigate various business scenarios. MBA courses mainly emphasize on imparting students with the knowledge of 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 which 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 which 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 MBA degree requires 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 fulfil 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 Eligibility for MIM Courses 
-Formal schooling of 10+2 from a recognised 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.
-2 Letters of Recommendation (LORs) along with Statement of Purpose (SOP) 
-Minimum work experience of 3-5 years
-Formal schooling of 10+2 from a recognised institution
-A bachelors 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.
Letters of Recommendation (LORs) along with Statement of Purpose (SOP)
-Work experience is not mandatory

In the aforementioned table, you will notice that the entry requirements are not that varied for both the courses. But students must understand that, the usual 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.

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 practised, 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 specialisations. As a result, a MiM degree at such schools will last anywhere from 1.5 to 2 years.

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 QS Rankings 2021Top MiM Colleges 
Stanford Graduate School of Business, Stanford University1HEC Paris
Wharton School of the University of Pennsylvania2London Business School
MIT Sloan School of Management3Essec Business School
Harvard Business School, Harvard University4Esade Business School
HEC Paris5Copenhagen Business School
INSEAD France
INSEAD Singapore
6IE Business School
London Business School7ESCP Business School
Columbia Business School, Columbia University8Imperial College London
IE Business School9Bocconi University
Haas School of Business, University of California, Berkeley10EMLYON Business School

Quick Read: MBA Admission 2020

Credits: MiM Essay

MBA vs MIM: Curriculum

This aids in much more multidimensional growth of students.

MBA courses impart students with specialised 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 SubjectsMIM Subjects
-Operations Management
-Business Marketing and Ethics
-Marketing Management
-Entrepreneurial Finance
-Strategic Cost of Management and Control
-Product and Brand Management
-Operations Management
-Managerial Economics 
-Business Statistics
-International Business
-Business Ethics 
-Corporate and Business Strategy 
-Economics 
-Entrepreneurship 
-Operations Management  
-Marketing 
-Management Theory 
-Managerial Accounting 
-Protected Area Management
-Organizational Behavio

MBA vs MIM: Fees & Costs

Owing to a higher popularity afforded to MBA colleges across the globe, the tuition fees in case of an MBA is 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 an MIM in Germany or other such locations affords candidates additional funding-related benefits.

Must Read: Top MBA Colleges in India 2021 Rankings

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 emphasise 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 standardised 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 counselling session with our experts at Leverage Edu and we’ll help you select the right degree and university as per your personalised interests and inclinations so that you can take a firm step towards a rewarding career

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

PhD After MBA
Read More

Doing A PhD After MBA

Higher studies often encompass the decision of pursuing a bachelor’s, master’s and then, if you feel like delving…