Choosing a graduate course in business and management? Master in Management and MBA are popular course option to study abroad. Go through our article and find out which is the program is best for you!
When you think of a top management degree to study abroad, MBA is what comes to your mind, right? While Master of Business Administration (MBA) is the traditional option that management aspirants choose, Master in Management (MiM) has also gained a lot of popularity in the recent years.
MiM may seem a relatively new qualification but you'll be surprised to know its benefits in terms of building careers in business-related fields like marketing, finance, economics, and may more.
But if you're thinking how a Master in Management is different from an MBA, then let us give you some insights into both the course options.
If you are searching for the right business and management course to pursue abroad, you can connect with our study abroad experts who can guide you through the entire process of choosing the right course, college and country.
Which is the Best Management Course to Study Abroad?
An abbreviation for the popular Master of Business Administration program, the course covers the general aspects of business administration such as marketing, management, sales, human resources, finance & accounting among several other aspects. Additionally, the MBA degree is designed to mould students into professionals with the necessary technical skills and qualifications to run a successful business. In other words, an MBA would mould you into a business professional capable of running an entire business or different aspects of a business.
Around the globe, when choosing an MBA degree, students will come across either full-time, part-time or executive courses. This is because, an MBA degree is more suited for professionals with work experience, preferably more than 2-3 years.
Master in Management, also known as Master of Management, is a program designed for students with a little less work or professional experience. In other words, MiM becomes a great alternative to those who do not qualify for an MBA, especially those who have graduated recently from undergraduate or bachelor program.
Additionally, MiM is a great opportunity for students seeking theoretical knowledge on leading a business to success at a relatively inexpensive cost them. Moreover, MiMs are great for those looking to jumpstart their career. Overall, MiM’s are an inexpensive and quick way to drill your way into the business world, allowing you to learn the tips and tricks on managing and building a successful business.
While the two degrees seem practically the same, the several differences between them can change the entire career path of the student. Moreover, course and admission requirements of the programmes will be different and attract different student groups altogether. Here are some differences between the courses and degrees.
Candidates: These programmes are catered to different individuals with different skills and qualifications. MBAs are perfect for those looking to move up the career ladder, hence, most universities and colleges offering the programme offer high admission criteria. Meanwhile, a MiM is perfect for those candidates who have just completed their undergraduate programme and are looking to jumpstart their careers.
Admission Requirements: Speaking of high requirements, MBAs usually require candidates to possess a couple years of experience, i.e. 3-4 years of professional experience. Meanwhile, for a MiM, while work experience is preferred, most universities will offer admissions to students with work experience of 1 year or less.
Teaching Methodology: The teaching methodology for both the programmes also differ as one focuses on practical applications while the other focuses on theoretical knowledge. With MBA being designed keeping experienced professionals in mind, an MBA is commonly practically oriented, while a MiM focuses on building a theoretical base for aspiring leaders and managers.
Postgraduate and Career Opportunities: One of the areas where graduates of the two degrees will witness a difference is the postgraduate and career opportunities. In terms of jobs, an MBA degree will open up mid to top level positions in a given company, whereas, a MiM degree will be perfect for entry level positions across industries. Inevitably, the salaries offered to graduates of the two degrees will also differ. Commonly, MBA graduates receive a higher salary compared to MiM graduates.
As more and more companies and organisations are formed across the globe, the demand for management graduates increase as well. Thus, whether you pursue an MBA or a MiM, you career prospects will remain high regardless.
The key to understanding which course is right for you is to understand what you want out of the course and define other parameters that are important to you. Singling out one or two features out between the different options and selecting the one with the best feature has a higher chance of being overwhelming and overall, not being the right choice for you.
To avoid the hassle of trying to figure out which course is perfect for you, we recommend talking with our experienced study abroad consultants who have helped thousands of students enrol in courses that have satisfied their needs and wants.
Here are some things you should keep in mind when choosing a postgraduate degree in business and management.
As the two programmes are designed for two different student groups, you must figure out which programme is best suited for you, i.e. do you possess the qualifications and skills for an MBA or an MiM?
List down your requirements from the course, such as the technical and soft skills you will gain at the end of the programme.
Define the parameters that you need the programme to satisfy to simplify the entire process.
Figure out your career goals, as that will help you the most in understanding which type of programme or degree is perfect for you. In other words, do you wish to jumpstart your career or move up the career ladder?
Contact our study abroad counsellors and talk to them about your academic and professional goals and aspirations, who can then direct you to the right programme or degree, accordingly.
When choosing between the two program, it is important to understand if you qualify for the program in the first place. As stated above, one of the defining parameters for admissions to the programmes is the work experience that the student carries with themselves. Additionally, the two programmes lead to different programme outcomes, have different teaching methodologies, and is overall developed for different student groups.
Therefore, defining what you want from the programme and what your career goals and ambitions are, choose the appropriate degree. For instance, if you are aspiring to move up the career ladder, use your current professional experience and couple it with world-renowned management techniques, then choosing an MBA will be the right option for you. However, if you have just completed your undergraduate or graduate studies and are looking to incorporate management knowledge and skills, without a lot of professional experience, then choosing a MiM or Master in Management will be perfect for you.
Over the past several decades, management studies have seen a steep rise in demand and popularity across the globe. Organisations and businesses across the globe seek out management professionals who can fill the roles of managers and leaders in individual organisations for the simple reason of growing a profitable and successful business.
While MBAs are still coveted all across the world by up and coming businesses and organisations as well as those established for decades, MiMs are highly renowned and sought after as well. As outlined above, both the degrees churn out different types of graduates and professionals who can contribute to different aspects of a business. Moreover, as more and more universities begin to offer the programmes and more and more students choose to study the programme, employers around the world are beginning to recognise the programme as well.
If you are convinced of pursuing a graduate degree in business and management in any one of the top business schools in the world, then we can help you complete your entire application process to ensure that you get admission in your desired college.
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