Key differences between MBA and MiM degrees
Updated: May 24, 2020
MBA and MIM degrees are somewhat similar. Both degrees are graduate-level courses to get into the business side. The best part is that the syllabus of both the degrees is very much similar i.e. they both offer deep business subjects, same types of specializations, developing business networks, the opportunity for international experience, & the utmost important, career growth.
The pros and cons for respective degrees are as follows -
(1) What's the AGE required and does the AGE factor is important?
Masters in Management candidates are usually freshly graduates and are younger than MBA graduates at least most of the time. In general, MBA graduates are around 28-30, and MIM grads around 22-25, in terms of age, but this definitely is not a rule to be considered. So on average, we can take 23 as the age of MIM graduates. And If you’ve taken 2-3 years of work experience and are around 25+ age, you should drive your career towards an MBA rather than the MIM.
(2) Does the Work experience gained is important?
The advantage for young graduates who want their career quickly driven towards management and as the average age of MIM's is also 23, a degree like MIM is the one for you. MBAs are very much focused on the number of work experience you've gained and its curriculum is highly dependent on student career experiences, whereas students who want to pursue MIM, often finish their undergraduate and move straight onto B schools/universities. And if the confusion comes If you’re in the middle of your career, an MBA or a specialized Masters's degree would be a good and wise choice for you.
(3) What kind of expectations and goals can be made out of these two degrees? The age and work experience factor always go parallelly with your goal. The MIM degree is often seen as a kick-start for a quick business career. MIM grads often take an entry-level position while MBAs, who are considered on the upper hand because of the trust recruiters do on them as MBA's have a good amount of experience and are usually recruited into mid-level or higher positions. The point is companies are excited to hire candidates from both the degrees if they are talented and skilled enough which they definitely would be after pursuing such a demanding degree.
(4) What is the process to get admission into a Bschool/university?
The competition has become very competitive as a high number of people are inclined towards a management career these days. Top schools ask for a GMAT score some DO NOT. YES, you head it right!! But all the quintessential ones will still require it, due to the competitive environment. The whole point sums up to is wherever you apply a strong application that is highly required which includes LOR, SOP, SCHOLARSHIP ESSAY, MOTIVATIONAL ESSAY.
(5) What kind of degree I'll get in my hand?
MIM is a Master of Science degree so a proper MSC/MA degree would be offered to you after your graduation and for an MBA, the degree itself named by MBA is offered.
There is no biasing at all in both the degrees as they both are good in their own way.