MIM Vs MBA: Know the Difference Between MIM and MBA

Overview of MIM vs MBA

Let us first make you acquainted with a brief overview of the difference between MBA and MIM through this table:

Basis of Difference	MBA	MIM
Duration	1-2 years	10-12 months
Who is it for?	Experienced Professional	Recently Graduated Students
Tuition Fee	61,487 USD–160,864 USD	USD 24,000-140,579.20 USD
Average Salary	USD 169,000–USD 228,000	USD 68,000-USD 106,000
Curriculum Focus	Practical, Experience-based	Theoretical
Work Experience	At Least 2-3 years required	No or minimum required
Career Scope	Mid-level Positions	Entry-level Positions

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Top MBA and MIM Universities

If you plan to study abroad, why not choose the best universities to study MIM or MBA. let us help distinguish between MBA vs MIM on the basis of top universities, and colleges across the world:

Top 10 MBA Universities in the World

Top MBA Universities	QS Ranking 2022 (overall score)	Average Fees (in USD)
Stanford Graduate School of Business, Stanford University, USA	1	73,062
Harvard Business School, USA	2	73,440
Penn (Wharton), USA	3	83,230
HEC Paris, France	4	81,153
MIT Sloan School of Management, USA	5	78,854
London Business School, United Kingdom	6	85,000
IE Business School, Spain	7	80,818
INSEAD, Paris, France	8	1,00,338
Columbia Business School, USA	9	77,376
IESE Business School, Spain	10	93,991

Top 10 MIM Universities in the World

Top MIM Universities	QS Ranking 2022(Overall Score)	Average Fees (in USD)
HEC Paris, France	1	44,752
London Business School, UK	2	52,557
Essec Business School, Paris, Singapore, France	3	47,229
INSEAD, France	4	55,796
IE Business School, Spain	5	44,749
Esade Business School, Spain	6	35,963
Copenhagen Business School, Copenhagen	7	34,943
ESCP Europe	8	49,258
Esade/UVA Mcintire/ Lingnan	9	38,888
Imperial College Business School	10	42,635

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MBA vs MIM: Who is the Audience?

So, if we understand the difference between MIM and MBA, on the basis of whom do the degrees cater to, it is to be known that an MBA is meant for professionals. An MIM, on the other hand, focuses more on young graduates. For instance, if you have a work experience of 3-5 years, you should opt for an MBA rather than an MIM.

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MIM Vs MBA: Course Structure and Curriculum

As you begin to look at course differences, the first thing that you should check out is the course structure and the difference between MBA and MIM. However, both degrees equip you with general Business knowledge of -

• Finance
• Business Analytics
• Accounting
• Marketing
• Strategy
• Micro/Macroeconomics
• People Management

But, course level differences lie among the two. That are:

MIM

• The basic difference between MBA and MIM is that the course duration for an MIM is 10-12 months whereas for an MBA it is 1-2 years.
• Master's in management (MIM) programs include Business Theories, Finance, Marketing and Leadership. You will also be required to research, conduct statistics and data analysis in Business.
• If you're interested in Business Management Research, a Master's in Management that emphasises theoretical and analytical aspects of the field is a good choice.
• Coursework on qualitative and quantitative research methodologies will prepare you to conduct in-depth investigations into Business organisation structures, management and economic sectors.

MBA

• Master's in Business Administration (MBA) is a popular graduate Business degree that develops advanced management and leadership skills.
• MBA curricula cover Business skills desired by high-level employers. Most MBA programs include core finance, marketing and management coursework throughout the first year.
• MBAs also integrate concentration and elective coursework, culminating in a strategic management capstone.
• Two-year MBA programs also require you to take up a summer internship in between your first and second year.

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While these are the basic differences, and might answer- “What is the difference between MIM and MBA?”, the other aspects coming into MSc Management Vs MBA will be best colleges, eligibility, jobs etc. Let’s dive into universities and look at the rest ahead.  

MIM Vs MBA: Requirements

Looking at MBA vs Masters in Management there are many key factors that you will have to gather like eligibility, documents required, etc. These are important factors that reflect the major difference between MIM and MBA.   

“What is the difference between MIM and MBA?” can also be answered on the basis of requirements, lets see how:

Key Factors	MBA Requirements	MIM Requirements
Eligibility	Formal schooling of 10+2 from a recognized institution with at least an average CGPA around 3.00 to 3.73 A Bachelor’s degree from a relevant field with at least 60% A good score in English-language proficiency tests such as IELTS with at least 7.5 score, TOEFL with an average score of 110 or CPE certificate. A valid GRE score of 310 to 315 is a good score and a GMAT score of 630 to 700 as per the university requirement.	Formal schooling of 10+2 from a recognized institution with a minimum CGPA of 2.75 to 3.00 A Bachelor's degree from a relevant field with at least 60% A good score in English-language proficiency tests such as IELTS of minimum 6.5, TOEFL of minimum 95 score or PTE certificate A valid GRE score of about 310 to 316 and average GMAT score is 610 as per the university requirement.
Work Experience	Minimum work experience of 3-5 years	Work experience of 1-2 years

The above difference between MIM and MBA would have given you a clear picture of the two. To move further, let’s also look at the various scholarships to help you pick MIM or MBA whichever is better for you.

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MIM vs MBA: Fees

Talking about MIM or MBA: which is better, on the basis of cost, the answer would definitely be MIM. The tuition fee for MIM ranges from USD 24,000 to 140,579.20 USD, as compared to 61,487 USD–160,864 USD for an MBA.

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MIM vs MBA: Scholarships

MIM programs are traditionally cheaper than MBA. However, it is still a significant investment. The good news is that there are quite a number of scholarships available for students for both the programs:

MBA Scholarships

MIM Scholarships

Kellogg Scholarship (Kellogg School of Management) Tahir Fellowship (UC Berkeley Haas School of Business) George J. Stigler Fellowship (Chicago Booth School of Business) B.K. Birla MBA Scholarship (London Business School) Forté MBA Fellowships for Women Reaching Out LGBTQ MBA Fellowship Consortium for Graduate Study in Management External MBA Scholarships McKinsey Emerging Scholars Program Aga Khan Foundation Scholarships

HEC Foundation Excellence Scholarship ESMT Berlin 700+ GMAT Scholarship Essec Academic Excellence Scholarship INSEAD Financial Fellowship IVEY Business School Financial Need Awards London Business School Fellowship Indian Academic Excellence Scholarship at Smurfit Business School ESMT Berlin Asia Scholarship Kofi Annan Scholarship for Developing Country Students Volkswagen – HEC women in leadership scholarship Aga Khan Foundation Scholarships JN Tata Endowment for Higher Education Scholarship Program

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MIM Vs MBA: Job Prospects

A Master in Management degree provides many of the same career opportunities as MBA programs at a junior management level. Master in Management graduates are recruited by top organisations in industries ranging from Consulting, Finance, Technology and Consumer Products. Whereas, the MBA graduates specialise in General Management, Finance Leadership, International Management, Marketing, etc. Let us compare the MIM vs MBA salary.

Top 5 MBA job positions and their salaries:

Job Profiles	Average Salaries (in USD)
Marketing manager	136,850
Medical and health services manager	100,980
Management consultant	165,000
Financial manager	129,890
Business operations manager	100,780

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Top 5 MIM job positions and their salaries:

Job Profiles	Salaries (in USD)
Management consultant	84,963
Project manager	58,570
Social media manager	49,015
Business development manager	70,995
Entrepreneur	60,542

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Talking about MIM vs MBA salary difference, companies that hire MBA and MIM grads are similar, although the latter will be hired into more junior roles. Some of the employers that hire the most MBAs and MIM grads include Apple, Microsoft, Accenture, Deloitte, Google, Amazon, Bain & Company, the Boston Consulting Group, and McKinsey.

MIM vs MBA: Which program to choose?

MIM or MBA: which is better? You can opt to study both degrees after completing any of the degrees. A Master in Management can give you a strong base to launch your business career, and an MBA can propel you into senior leadership roles or allow you to pivot your career entirely.

Although, if you're 24 or younger, just graduated from college, or have less than two years of professional experience, a MIM degree is likely a better fit for you.

If you’re a career professional with around three or more years of experience and are between 24 and 30, or older, then an MBA should be your go-to. It will help you in your job career and also will be a better option for promotion at your workplace.

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If you are still in a dilemma to choose between the two, Yocket Counsellors are ready to help you select the right degree and university as per your interests and preference so that you can take a firm step towards a rewarding career for your future endeavours.

Frequently Asked Questions about MIM vs MBA

Ques. Is MIM better than MBA?

Ans. 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.

Ques. What is the difference between an MBA and MIM degree?

Ans. 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 and focus mainly on research work.

Ques. Should I do an MBA after MIM?

Ans. 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.

Ques. Is MIM a good degree?

Ans. 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 enrol competent applicants from the pool of MIM and MBA graduates in either case.

Ques. What is the work experience required for an MIM?

Ans. There is no or only little, preferably 1-2 years of work experience required for an MIM.