MBA or MIM: What's the difference & which is better?

Find out which program is right for you - Masters in Business Administration or Masters in Management

There are some major differences between the two programs even though both the programs are very similar in more ways than we can think. Which one you should pursue after your graduation depends on your career goals and where are you now in terms of your career.

I have highlighted a few key differences between the two degrees that will make you decide between the two programs easily.

Experience

Both are graduate-level programs in business education. The curriculum of a Master in Management (MIM) program is not very different from the Master of Business Administration (MBA) program. The MBA is designed for more seasoned professionals with experience of 4–5 years of experience under their belt and the MIM is targeted at students right after their undergraduate or with 0–2 years of work experience.

Work Experience distribution | Source: e-gmat

Placements

Since MBA programs admit students who have significant work experience in their bag, they are desired for mid-level managerial roles that demand higher responsibility and a higher paycheck. MIM graduates are mostly hired in entry-level positions. MBA graduates can expect salaries in the range of USD 100,000 - USD 150,000 on average while MIM graduates can expect around USD 60,000 - USD 100,000 on average.

Salary

• Duke University - MIM: $55,000, MBA: $140,000
• HEC Paris - MIM: $75,000, MBA: $140,000
• Northwestern Kellogg - MIM: $70,000, MBA: $145,000
• MIT - MSMS: $83,000, MBA: $168,000

MBA VS MIM Salary | copyright — mbanotion.com

Recognition

MBA has been recognized the world over as the ultimate ‘business education degree’. MBA has greater recognition throughout the world and with all employers. Even though MIM is a new degree that originated in Europe nearly 20 years ago, it is gaining ground rapidly. It is mostly recognized in Europe and most employers in North America are agnostic of the degree but once explained they are accepting of the degree.

Tuition

An MBA degree can easily put a dent in your pocket with most top schools’ Cost of attendance ranging from USD 150,000 to USD 250,000. Mater in Management is a much more affordable option with tuition fees ranging from USD 30,000 to USD 80,000. Some schools eg. DUKE Fuqua has an accelerated MBA option for MIM graduates so you can top your MIM with a 1-year MBA after a few years of work experience.

MBA vs MIM Tuition fees | Source: e-gmat

Duration

The MBA program in the US is mostly 2 years -the full-time residential program with an internship sandwiched in between the two years. The internship is particularly helpful for students who are looking to change industries. Whilst, MIM degrees are predominantly one-year introductory business degrees. However, few schools such as HEC Paris, Essec Business School, ESCP Business Schools have MIM programs that run for 2 years or more.

MBA and MIM programs are similar in many ways — they both require a general application process — GPA, GMAT/GRE, professional Resume, Essays, LOR, and Interviews. The academic experience and courses are similar but MBA has a more focus on experiential learning or more hands-on learning.

Learn more about programs and get to find the right program for free at findmyorbit.com

Getting into a MIM program is easier compared to an MBA program since MIM graduates don’t have to compete over impactful work experiences. Since the MBA is much broader and experiential, students can consider gaining some work experience and applying when it’s calling them.