MBA vs MiM vs MSc
MBA v/s MiM v/s Msc: Decoding The Key
Points of Difference
Europe has become an incredibly popular destination for study abroad aspirants seeking to pursue a master's degree in the management field. The diversity of programmes offered by the European universities has prompted students from all over the world to study in Europe. Interestingly, this variety in the number of master's courses is also the cause of confusion & uncertainty among a lot of students. While pursuing management at the master's level in Europe, candidates are offered the options of (1) Master in Business Administration (MBA), (2) Master in Management (MiM), and (3) Master of Science (MSc).
On the surface, the MBA, MiM, and MSc programmes are similar in the sense that they provide academic training in the management background. But upon a closer inspection, all three degrees have different components and are targeted to separate groups of students. The differences, however, do not place them in a competitive position. Rather, these degrees can be viewed as complementary substitutes of each other. The core differences between MBA, MiM & MSC stem from a combination of innate factors such as the time duration, fees range, etc., and student-related factors like professional experience, academic background, etc. But
In this blog, we shall describe the details of each of these master's programmes to help students make an informed choice for their further studies. Towards the end, we have also presented a comparable difference between MBA, MiM, and MSc in Europe to help students put things into a better perspective.
1. Master in Business Administration (MBA)
MBA programmes in Europe offer academic training in general management topics. The curriculums of these courses, however, focus more on the practical side of learning. MBA programmes foster a peer-based learning environment where students learn from their experiences and real-life case studies. In simple words, the MBA degrees are targeted towards candidates who have professional experience of 3-5 years. As such the average age of an MBA candidate is 27-32 years.
Potential candidates just require a bachelor’s degree in any academic background for them to be eligible for MBA in Europe. The average duration of an MBA degree is 2 years but certain European universities also offer short-term (1 year) programmes. As far as the fee is concerned, MBA programmes are about 2-3 times more expensive than MiM and MSc courses.
Since the MBA degree has been around for a longer period, most corporates and industries value the degree higher than its counterparts. Additionally, MBA graduates get employment directly at managerial/strategic positions due to their extensive professional & academic experience. As France has the best & highest number of business universities in Europe, management aspirants from all over the world are eager to study in France.
2. Master in Management (MiM)
The Master’s in Management was first introduced by French business schools in the 19th century, prompting more & more international students to study in France. MiM in Europe also offers academic training in general management topics, just like MBA. The major difference here is that the curriculums emphasize more on the theoretical side of learning. In essence, the MiM programmes serve as an introductory bridge to management learning and are designed for fresh graduates with minimum to no professional experience. As a result, the average age of an MiM candidate is 23 years.
Candidates with a bachelor’s degree in any academic background are eligible to apply for MiM in Europe. Interestingly, several European universities previously considered GMAT scores as the basis of admission but the condition has now been waived off.
Another difference between MBA and MiM is the latter offers short-term courses, with the majority of them designed as 1-year programmes. Also, MiM degrees are considerably cheaper than MBA programmes.
MiM in Europe prepares students for various entry-level/operational jobs in the management field. This is because most MiM candidates have no prior professional experience and thus, get their first jobs post-graduation. Although less popular than traditional MBA, MiM degrees are rapidly increasing in application across the globe.
3. Master of Science (MSc)
As against the MBA & MiM programmes, the MSc in Europe grants specialized training in one particular domain of the management field. The curriculums of MSc programmes are designed to impart in-depth training – both theoretical & practical – of a single, distinctive area of study. In other words, these programmes nurture the candidates' basic knowledge and prepares them to be advanced experts in their field of choice. Although professional experience is not a necessity, certain European universities do appreciate candidates with a working history. The average age of an MSc candidate is 23-24 years.
Just like MiM, MSc in Europe also consists of 1-year short-term programmes. However, it is mandatory for the candidate to hold a 4-year bachelor's degree, in a closely related academic field, to be eligible to enroll in the MSc programmes. Students with a 3-year bachelor’s degree must enroll in longer-term MSc courses that last 2 years.
But what if a student holds a 3-year bachelor's degree and has professional experience? In that case, certain universities in France offer certain specialized MSc programmes to these candidates, which usually lasts 1.4 years. As a result, every year, the country witnesses a surge in the number of MSc candidates aspiring to study in France.
The fees for MSc programmes usually fall between the fee range of MiM and MBA, depending upon the field of study. Regarding career opportunities, MSc graduates are hired in specialized fields that directly relate to their academic training. For instance, a graduate with MSc in Finance will be employed as an analyst in an investment banking firm and not as a general department manager.
MBA vs. MiM vs. MSc: Comparable Difference Table
| Point of Difference | MBA | MiM | MSc |
|---|---|---|---|
| Professional Experience | Yes. 3-5 years of professional experience required. | Not necessary. 0-1 years of professional experience is accepted. | Not necessary. 0-1 years of professional experience is accepted. |
| Academic Background | Normal Bachelor’s In Any Academic Field | Normal Bachelor’s In Any Academic Field | 4- Years Bachelor’s Degree Is Mandatory* |
| Average Age | 27-32 years | 23 Years | 23-25 Years |
| Curriculum | Generalized Management Topics. Emphasis on Practical | Generalized Management Topics. Emphasis on Theory | Specialized Management Topics. Equal Emphasis on Theory & Practical |
| Avg. Duration of Course | 2 Years | 1 Years (Short Term) | 1 Years (Short Term). Also Full-Time 2 Year Options Available |
| Fee Structure | Higher Than MiM & MSc | Considerably Lower Than MBA | Ranges Between The Fees of MBA & MiM |
| Career Prospects | Career Prospects | Entry Level/Operational Jobs | Specialized Jobs |
MBA, MiM or MSc: Which Programme Should You Choose?
This is a highly subjective question and students must consider & analyze all factors before selecting their master’s programme. While MBA is better suited for candidates who want to progress in the management field, MiM caters to the needs of students who are looking for a career switch into the management field. MSc, on the other hand, is for a completely different set of candidates who are looking for specialization in a particular domain.
In any case, the best course of action is to approach an overseas education consultant and get a clearer understanding of your objectives. As India’s leading Europe admission partner, Edugo Abroad can assist you in making the right choice for your master’s degree abroad. Our well-qualified counsellors will help distinguish between the pros & cons of each degree and help you select the right programme that aligns with your future goals.
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