We have a great guest post by Abhyank Srinet of MiM-Essay. In a quick post and an awesome infographic, Abhyank goes over the differences between a Master of Business Administration (MBA) and a Master in Management (MiM).
MBA vs Master in Management- The Ultimate Guide
The MBA has always been the go-to degree for anyone wanting to make a switch into management or someone who is looking for a way to take up increased responsibility at work, and it works pretty well with a high percentage of graduates meeting their goals.
But getting into a great B-school isn’t always easy, even if you meet the stringent GMAT regulations, maintain a great GPA, and write engaging essays, you still need to meet an important condition: that of a significant amount of work experience.
With B-schools averaging around 4-5 years of work experience, accumulating work experience poses a significant challenge for people who want to shift to a management career quickly, and such a group is increasingly abundant in this generation of millennials. Maybe that is the reason why the Masters in Management is increasing rapidly in popularity as an alternative to the MBA.
So what exactly is a Masters in Management?
It is a degree with origins in Europe which caters to a younger audience between the age of 21-24 who are recent graduates or have less than 2 years of work experience. Lately, major schools all over the world have started offering it, from Duke Fuqua to Kellogg in the US, all the way to NUS in Singapore.
So is it giving the MBA a run for its money? Well, not exactly.
Though the Masters in Management(MiM) has a course which is about 50-60% similar to that of an MBA, it caters to a different audience and a different age group than that targeted by a traditional MBA.
Interested in learning more? Check out this blog post by Abhyank, detailing more of what an MiM is and what it has to offer.