How to choose between a MiM and an MBA?
After your Bachelor’s degree, you may be looking for a Master’s programme that will allow you to move into a management position in an international company. During your search, you will probably be faced with the choice of joining either a MiM or an MBA.
These programmes have in common that they prepare students to manage teams and develop essential management skills. They also help them develop their professional network. However, these two programmes are aimed at candidates at different stages of their career.
Let’s find out why you should choose one programme over another.
History of MBA and MiM programmes creation
When thinking of graduate management education, the MBA often comes to mind first.
Indeed, the very first MBA programme was created at Harvard Graduate School of Business more than 100 years ago. Since then, many other MBAs have emerged around the world.
It is only in 1988 that the first Master’s in International Management degree was introduced by four leading European schools – ESADE, HEC Paris, Università Bocconi and the University of Cologne – which makes the MiM still a relatively new qualification.
However, in the recent years, the MiM has been gaining popularity around the world. Many MiM programmes are subject to international rankings that include the most prestigious business schools around the world.
Each year, the Financial Times and QS rank the best Masters in Management programmes in the world. EM Normandie is part of these rankings, being in the Top 100 of the best Masters in Management in these two prestigious rankings.
Evolution of MBA and MiM popularity in the recent years
According to the Graduate Management Admission Council’s 2022 survey, applications to business master’s programmes raised this year (including MiM, Master of Finance, and Master of Data Analytics) whereas MBA volumes decreased:
- Global applications to business Master’s programmes grew year-on-year by 3.2%.
- Among MBA programmes that responded to the last two surveys, total applications declined almost 7%.
MiM vs. MBA: the main differences
The biggest differences in the applicant profiles between MBA and MiM applicants are in work experience, candidates’ profiles and expectations about the programmes.
Different entry criteria for each programme
MiM programmes are designed for students who hold a Bachelor’s degree and wish to deepen their understanding of business, but do not possess the necessary work experience to qualify for an MBA programme.
Most MiM applicants have less than 3 years of work experience, with many having none at all, in contrast to MBA applicants, of whom the majority have already worked at least a few years. If you’re an undergraduate student or recent graduate pursuing a career in business, a MiM could be for you.
Indeed, an MBA is a professional programme that is well-suited for managers seeking to enhance their skills and improve their performance. In contrast, other individuals may pursue an MBA in order to transition to a different field or job.
Candidates’ profiles according to surveys
According to the Graduate Management Admission Council’s 2022 survey*, more than half of Master in Management candidates have less than 1 year of work experience or no experience at all when joining the programme.
However, more than 3 out of 4 candidates applying to an MBA programmes have at least 3 years of experience, and 1 in 4 candidate have more than 10 years of experience.
* The annual Application Trends Survey from the Graduate Management Admission Council (GMAC) provides the world’s graduate business schools with data and insights to understand current trends in applications sent to graduate management education (GME) programmes. This survey includes 950 programmes, from 264 business schools in 57 countries.
Variations in tuition fees
Top-flight MBAs are typically very expensive. According to the Financial Times MBA 2022 rankings, the average tuition for the top 20 business schools in the world is $191,000. These programmes are usually offered in 1 or 2 years.
To make the comparison, MiM programmes usually cost much less than an MBA. In the Financial Times MiM 2022 rankings, the top 20 business schools in the world charge about $102,000. These programmes are typically offered in 2 or 3 years to international students, depending on the school.
Some schools from the FT ranking of the Top 100 best Masters in Management worldwide offer much more affordable tuition, which is the case of EM Normandie. To help international students fund their studies, EM Normandie even offers a range of scholarships and provides the opportunity to part fund tuition fees based on academic and geographical criteria : Early Bird and Achievement scholarship to support high-profile candidates.