Want to Study in the Best Schools of the World?
+91-9810814307
Select Page

             

            The most accurate article on MiM vs MBA –                                              Salary,Cost & Exams                                                                                                                            

Have you ever wondered what the difference between a MiM or MBA degree is? Want to clear your doubt about MiM or MBA? Then this article will clear your all doubt about MiM and MBA.

Business is a field where one needs to be well skilled. One must have good financial, analytical skills and other for developing oneself in an organization. It is why people pursue MiM or MBA. Both are important degrees from a business and management point of view. However, many of us get confused about MiM or MBA.

This article focuses on the following parameters:

  • What is MBA and MiM?
  • What is the key difference between MiM and MBA?
  • Eligibility for MBA and MiM
  • Salary after MBA and MiM
  • The entrance exam for MiM and MBA
MiM VS MBA

What is the key difference between an MBA and MiM?

First, MBA is a professional degree for graduates having enough work experience. Have you ever think why one needs to have work experience for an MBA degree? It is a master degree that is more focused on practical knowledge and implementing work experience in learning. That is why one needs to have relevant work experience.

On the other hand, undergraduate degrees introduce students to the subject. An MBA is a post-graduate degree. For this, one needs to be a graduate and have work experience.

Now in a Masters in Management, one needs an undergraduate degree. A few months of work experience is required in MiM. In MiM, one study about management skills. It introduces a student to the management field. Both MBA and MiM include marketing, finance, accounts, business but their standard is different. The cost of MiM and MBA also varies from each other.

They are also different in salary structure, cost and job opportunities. Both of the degrees have almost similar subjects, but their format and structure may differ from each other.

 

Eligibility for MBA and MiM

MBA

MBA requires a graduation degree. One must complete one’s bachelor degree for admission in an MBA program. Another requirement for the MBA is enough years of work experience. Many universities require work experience; one should have at least 4 or 5 years of work experience to take admission in an MBA.

 Apart from this, one needs to have a good score on GMAT or in other entrance tests for MBA admission.

 The Graduate Management Admission Test is one of the primary tests whose scores are required to secure an MBA degree. In addition, many international universities and institutions consider GMAT scores for admission. Therefore, for an MBA aspirant, a good GMAT score is very important. It checks the analytical and reasoning skills of the candidate.  

MiM

For a master in management, one needs an undergraduate degree. In MiM, significantly less work experience is required. It is for recently graduated students and those looking for a course that can help them find better job opportunities in the business and management field.

One also needs a good GMAT score for admission to MiM. GMAT is important for both of the degrees. Preparing for GMAT to take admission in an MBA needs a high score.

While applying to a MiM program, applicants need to submit a statement of purpose, also known as SOP. Similarly, while applying to MBA programs, SOP is required.

Want to know which school is the best fit for you?

Take Our Free Profile Evaluation Now!

MiM vs MBA salary

MBA and MiM both have different salary packages. Therefore, before applying to MBA or MiM, one should know about the salary structure of both programs.

As already stated, MiM is for young graduates who have recently completed their bachelor. However, doing a MiM is beneficial for recent graduates. One can earn a good salary after completing MiM.  The salary structure for MiM varies from country to country. One can earn a good Salary after MiM.

It is understood that an MBA graduate earns more than a MiM graduate. The reason which makes a difference between MBA and MiM is their level. It is in huge demand in the business and management industry. Therefore, one can earn a good salary package after MBA.

Hence, both MBA and MiM have good salary packages, but MBA is a more senior-level program than MiM. Each of us wants to earn a good salary after completing our studies. MBA and MiM are programs that help an individual earn a good job opportunity.

MiM VS MBA

Entrance exams for MBA and MiM

GMAT, GRE, TOEFL and IELTS are some entrance tests for admission in an MBA or MIM. Let us understand why one needs to take these exams.

GMAT

GMAT is an internationally accepted exam for admission in an MBA program. If you are looking for an international university, then the GMAT exam is a must for you. GMAT stands for Graduate management admission test. GMAC or Graduate Management Admission Council is responsible for conducting the GMAT exam.

The most important part of any examination is the syllabus. GMAT has questions from AWA or Analytical Writing Assessment, quantitative reasoning, verbal reasoning and integrated reasoning.  All these sections have their sub-sections. Therefore, for admission to an MBA or MiM, one needs to prepare for the GMAT.

GRE

GRE is a very prominent exam for admission to international universities. Many universities which offer MBA or MIM accept GRE score. Apart from these programs, many UG and PG courses of international universities require this examination. GRE generally stands for Graduate Record Exam. For GRE, one needs to study 3 sections, AWA or analytical writing assessment, quantitative reasoning and verbal reasoning. Unlike GMAT, it does not have an integrated reasoning section.

TOEFL

Most of us heard about TOEFL. It is an English language test for admission to international universities. ETS, which is educational testing service conducts this examination. It is formatted in a way that can test all aspects of the English language in an individual. It is the more practical test. It tests the reading, speaking, listening and writing skills of the candidate in the English language. TOEFL exam has relevance for both of the programs (MBA and MiM).

IELTS

IELTS is also an English test. One can appear for any of these exams. While applying for MBA or MiM, one needs to submit TOEFL or IELTS score. IDP Education, Cambridge Assessment English, British council together conduct the IELTS exam. The syllabus of IELTS includes reading, listening, speaking and writing sections. It is also a practical examination. Before starting preparation for this exam, one should read the IELTS test format.

If one wants to study MBA or MiM from an abroad university, one needs to prepare for IELTS OR TOEFL.

Conclusion

One can excel in MBA and MiM. Both are business and management related degrees. MiM is a degree that recent graduates generally choose. Hence, job opportunities also vary for the candidates after completing MBA and MiM.

MBA needs at least three to five years of work experience, but MiM requires few months of experience. The duration of the MBA and MiM programs is also different. Hence one should choose a program according to one’s career goals.

 

 

How to Fund Your Studies Abroad

It is true that study abroad programs are not exactly pocket-friendly, but with the host of funding options available, they are certainly affordable.

How To Choose The Ideal School For You?

University selection that matches your expectations can be a very long and painstaking process. Initially, you might feel overwhelmed and confused …

Scholarships to Study Abroad

Many universities along with government and private agencies have offered scholarships to select students. As a matter of fact, there are 16 billion euros worth …