Everyone knows about the hallowed MBA. But an equally viable alternative is the Masters in Management or MIM programs. Let’s find out why and how.
The MBA continues to be the most sought-after degree in the world – and for good reason. It offers you a truly international experience, enables you to switch job functions and industries, and gives you the opportunity to get a leg-up in your current domain.
However MBA programs typically require candidates who already have professional work experience. A full-time MBA typically requires a minimum of 2-years work experience, and the average MBA student has about 3 to 5 years of experience.
This is where the MIM degree comes in – the MIM is a postgraduate degree in Management aimed at students who are currently pursuing their graduation or the recent graduates.
Professional Profile: The typical MIM candidate is usually just out of undergraduate school. Work experience is not essential for MIM candidates, who are usually at the start of or at an early stage in their career. In a nutshell: Masters in Management programs are primarily designed for graduating students or candidates in the early stages of their career, right after their graduation degree. In fact MIM programs do not accept candidates who have more than a year of work experience.
Age Demographic: The average age of students seeking their Masters in Management is 23 years (with a range from 20 to about 25 years), compared to 27 to 32 for MBA programs.
Academic Demographic: MBA programs are open for graduates (with work experience) from any academic background. MIM programs are similar but different. About one third explicitly targets graduates with an academic background in business or economics. The other two third can be split into three groups: one group is open for people with a business or economics degree and also for people from some other (often social sciences) disciplines that have a strong methodological education (psychology, physics, sociology etc.); the second group is open for graduates from all academic areas; and the last group explicitly targets graduates without a degree in business or economics.
An indicative table of sector-wise hiring across the top 70 MIM programs is given below:
|Sector||% employed in that Sector||Median Salary in Euros||Median Signing Bonus in Euros|
|Operations & Supply Chain||3%||50,000||NA|
Typical companies hiring at MIM programs include:
In conclusion, the Masters in Management program is for talented and ambitious recent graduates with limited work experience who would like to venture into a career in business. So what are you waiting for? Start your journey now!