MBA vs MIM: Everything You Need to Know
Students are growing more and more curious about management courses now a days. They are trying to explore the world and also look for all the options available to fulfill their desires. MBA vs MIM debate is also part of this search for the best course for management. To conclude this search, you need to understand the roles of these courses and the differences between them.
MBA: An Overview
MBA stands for master’s in business administration. However, the course is designed to focus on Investment Management, Business administration, Finance management etc. While duration of MBA is generally 1-2 Years.
MIM: An Overview
MIM stands for master’s in management. While the course is easy way to get a master’s degree with graduate level coursework in Business Management. Duration of MIM is generally 10 months to a year.
MBA vs MIM: Differences
MBA and MIM are considered about 40%-60% similar. However, there are some differences as follows:
|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|
MBA vs MIM: Requirements
The difference between these two can also be found on the basis of their eligibility criteria. The major requirements are:
|Key Factors||MBA Requirements||MIM Requirements|
|Eligibility||Formal schooling of 10+2 from a recognized institution.||Formal schooling of 10+2 from a recognized institution|
|CGPA should be at least around 3.00 to 3.73||CGPA should be at least around 2.75 to 3.00|
|A Bachelor’s degree from a relevant field||A Bachelor’s degree from a relevant field|
|Bachelor’s percentage should be at least 60%||Bachelor’s percentage should be at least 60%|
|A good score in English-language proficiency tests such as IELTS with at least 7.5 score.||A good score in English-language proficiency tests such as IELTS of minimum 6.5. TOEFL of minimum 95 score or PTE certificate|
|TOEFL with an average score of 110 or CPE certificate.||TOEFL of minimum 95 score or PTE 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.||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||No required work experience.|
In the debate of MBA vs MIM there cannot be one winner as there are various factors you need to consider. The choice can differ from person to person on the basis of individual needs. However, MIM and MBA both are very competitive requiring a great letter of motivation and resume. You need to make sure that your basics are strong.