MiM or MBA Which Is Better: Know The Difference

The MiM program as well the Masters in Business Administration programs are both post-graduate programs. And they can provide you with better career opportunities, specialization in diverse fields, and help in developing managerial skills. But, people sometimes get confused when these two programs are put ahead of them. So here’s something that would make it easier for you to decide what course or curriculum fits you. And your goals, and your career perfectly. 

MiM vs MBA Which is Better

 

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MiM: Let’s start with the lesser-known MiM program. Now if you’re a 22-year-old student, who just graduated from college after successfully completing a degree. You have very minimal work experience and you want to pursue higher education with a focus on Management & Business, an MiM would surely be the ideal course for you. Most MiM applicants have an average age bracket of around 21- 24 years old. And usually less than 2 years of full-time work experience. So if you’re looking at an early start to a career in management, the MiM course gives you a break into top companies that one would ideally wish to work at or with.

In addition to this, if you’re confused about what specialization you wish to pursue. An MiM allows applicants the opportunity to learn about multiple fields through electives in innovation, entrepreneurship, accounting, analytics, and others. Doing an MiM would help you to build your basics. The course curriculum has a more theoretical approach. The curriculum also polishes the skills that would allow you to enter the job market. As with confidence and possibly at a higher pay scale than your non-post-graduate peers. In addition to this, applicants for the MiM also get internships at reputed firms. Which gives them the opportunity to apply their knowledge and analyze outcomes in a real-life setting. 

These are a few of the best schools that one could apply for an MiM course. 

• HEC Paris – France
• London Business School, UK. 
• ESSEC, France, or Singapore campus. 
• ESADE, Spain.
• Imperial, UK. 
• IE Business School, Spain. 
• LSE, UK. 
• Copenhagen, Denmark. 

The course structure for an MiM has a slightly more theoretical approach since the cohort will have limited professional experience. The course teaches students to solve problems with the help of case studies, theoretical concepts, and guest lectures. An MiM also includes learning to create a new market plan and similar things. Here students learn more through debates, class decisions, and group studies. The MiM course makes sure that students remain active in class and be extremely interactive in all of their discussions. 

There are several industry-related experiences that one can get during an MiM program. Here are opportunities to specialize in – commerce, law, hospitality, tourism, leisure, and other such fields. There are also specializations under healthcare, arts, humanities, and technology. 

The job prospects after doing an MiM are those of junior-level managerial roles. This is because students who come out of the course are yet fairly inexperienced. This helps them gain more experience while doing their job. 

MBA: Now coming to the Master’s in Business Administration (MBA) degree which is meant for experienced professionals with at least 3-4 years of work experience. As live in an era where most professionals talk about wanting to get an MBA! It has become a fad, and applicants must make this decision only after really knowing their purpose behind it. Every business school asks their candidates one question in their MBA application. Or interviews about their core purpose to pursue this degree. So if you’re a professional in your late twenties, who has had a decent amount of full-time work experience and you’re looking to pursue an MBA  to improve your career prospects or shift industries or gain managerial skills, then an MBA is the ideal course for you. 

An MBA is a more practical focused and expensive course as compared to any other post-graduate degree. An MBA increases your lifetime earning potential. As should be seen as a long-term investment in yourself that will yield benefits in the future. The course gives its applicants a more detailed and practical experience through solving real cases from the professional world.  An MBA degree has worldwide applicability and is country-agnostic. It prepares you to work in any industry and country. The U.K., USA, Canada, and Western Europe continue to see an influx of applicants from countries like China and India to pursue an MBA. Generally, a full-time MBA is for two years, but many business schools offer even 12 and 16 months programs which are popular amongst older applicants. Students can pick their own specializations according to their interests and skill set.

Here are some of the specializations for an MBA. 

1. Finance
2. Resource management 
3. IT 
4. Logistics
5. Health care management 
6. Business Analytics. 
7. Operations management  

Students with an MBA degree are also more sought after by renowned Fortune 500 companies.  Another advantage that students applying for this course should know is that the course offers a wide range of electives. And that students can pick from to accompany their core subjects in an MBA course. 

An MBA is extremely beneficial for fast-tracking your career trajectory into senior management, getting global exposure, and entering any industry you wish to. A few commonly sought roles by MBA applicants include becoming a marketing manager, management consultant, product manager, financial advisors, business analyst, and other senior positions at reputed organizations. 

These are some of the top schools for an MBA-

• Stanford GSB
• The University of Pennsylvania – Wharton School 
• INSEAD (France)
• HEC Paris (France)
• MIT (Sloan).
• Harvard Business School
• London Business school 
• Columbia University. 
• Yale SOM
• NYU -Stern School 
• Northwestern University – Kellogg School of Management

Comparison between MiM & MBA(MiM vs MBA)

                                                      MiM                                                    MBA

We hope this article about MiM vs MBA makes it easier for you to pick whether you are more suitable to do an MiM or an MBA. However, you can always talk to our top professionals for further and more detailed guidance in the same field.  You can email us at info@lilacbuds.com or give us a call at +91-8563001144 to speak with an expert.