Masters in Management, or Masters of Management, are degrees that offer business education to students who do not have an extensive work history or experience. They are a less-demanding, more introductory alternative to MBAs. MIM degrees are becoming a considerable business study alternative to the long-established and highly sought-after Masters of Business Administration (MBAs).
The Master of Business Administration (MBA) is an internationally-recognized degree designed to develop the skills required for careers in business and management. The value of the MBA, however, is not limited strictly to the business world. An MBA can also be useful for those pursuing a managerial career in the public sector, government, private industry, and other areas. However, the MiMs and MBA degrees don’t necessarily compete. We could regard them as complementary, since they cover different market segments of students and have different goals and contents.
While the MIM degree increases the career start options for young and relatively inexperienced students, the MBA is a degree for professionals who already progressed beyond their entry-level job.MBA students aim at developing their career. Whether they need to qualify for a leadership position or they need to acquire entrepreneurial knowledge for their own personal business, a degree in Business Administration will offer benefits in more ways than one.
Although MIM graduates should not expect to land in a managerial position immediately after completing their studies, they get the chance to enter the business labour market more easily. Although both MIM degrees and MBAs are postgraduate programmes in general management, their content can vary considerably. The MIM is officially a Master of Science, hence, it is prone to more in-depth theoretical knowledge, and can even become research-oriented.
MIM students may focus more on theory and also use statistics and other methods to understand and apply it
MiM provides more introductory and general knowledge and regardless of the study destination and university you choose to study, MIM programmes are more or less the same in terms of content
MBAs focus on real-case business studies
While somewhat general in terms of academic knowledge, MBAs have always been a more hands-on experience, with integrated teamwork and case studies. Generally, MBAs focus on developing problem-solving skills, enabling students to find innovative solutions for diverse business issues. The Master of Business Administration (MBA) is the traditional and most famous degree for postgraduate education in general management.
Hence, it is well-known, particularly among international firms, and the specific reputation of an MBA depends primarily on the reputation of the business school you attended.
The Master in Management is a relatively young programme and some HR departments may be a bit uncertain about the capabilities of MIM graduates. Nevertheless, the growing supply and demand for MIM programmes worldwide are sure to make companies more aware of the capabilities and skill sets of future graduates.