The Masters in Management is growing in popularity for graduate business education. Between 2021 and 2022, the GMAC reported a 3.2% increase in applications to Masters in Management programs, versus a 6.5% decrease in applications to the MBA.
If you’re weighing a Masters in Management versus an MBA, how do you know which program is right for you?
In this article, we will define the two programs, outline the different aspects of the Masters in Management compared to the MBA, and explore the factors you should consider when making your decision.
What is an MBA?
An MBA, or Master of Business Administration, is a graduate degree that focuses on the fundamentals of business such as finance, strategy and leadership.
The MBA is aimed at professionals with at least a few years of work experience behind them. Applicants generally wish to progress to the next step in their career, change careers or gain specialist industry knowledge.
There are a few different types of MBA. These include the full-time MBA, the part-time or working professionals MBA, the executive MBA (or EMBA, designed for senior professionals), and the specialist MBA (which is tailored for a specific industry).
What is an MiM?
An MiM, or Masters in Management, is also a graduate degree with a business focus. It differs from the MBA in that it is aimed not at seasoned professionals, but more so at individuals at the start of their careers. The MiM is popular amongst newly-graduated business hopefuls who are keen to kickstart their career in business. Where the MBA focuses on expanding the existing business knowledge of its students, the Masters in Management is designed to provide foundational business knowledge to recent graduates or young professionals with only a little work experience.
MiMs are usually taught full time and take 10 months to complete. There are some two-year Master in Management options—HEC Paris, for example, offers a two-year MiM program that dedicates a second year to internships and work experience.
How Does an MiM Class Differ Compared to an MBA?
As suggested in our overview of each program, the Masters in Management attracts different students compared to the MBA program. Since the MBA is a more advanced degree, it requires several years of work experience from its applicants; the MiM, on the other hand, is open to applicants who have recently completed a bachelors degree. Some MiM programs even forbid this bachelor degree to be in business. This ensures that every student is fresh to the industry.
MBA classes, therefore, tend to be made up of professionals with several years of work experience under their belt. These students are looking to build on existing knowledge, to climb the corporate ladder, or to transition to new industries. MBAs usually require their applicants to have at least three years of professional experience. However, averages can exceed 10 years, especially for EMBAs.
Masters in Management classes, on the other hand, are made up of students with far less experience of the workplace. The GMAC reported that 76% of MiM applicants have less than two years work experience. The average age of MiM applicants is therefore much younger than that of MBA programs. For MiMs, typical applicant age sits at around 22-23, whereas for MBAs, the average is around 27-28.
Other Points to Consider
Program Focus
When choosing between the MBA or the MiM, it’s important to consider the focus of each program. As you might expect, program focus is closely tied to the type of student for which each course is tailored.
The MBA, aimed at those with several years of professional experience, covers more advanced facets of leadership, business and management. The MBA dives into specialized topics, strategy, and practical skills. The MiM instead covers foundational business skills.
Topics are similar for both, but the former is better for those who are looking to further an existing career. The latter for those who wish to launch a new one.
Candidates from nontraditional backgrounds should not be discouraged from pursuing an MBA; these programs often offer business and quant prep classes ahead of the main curriculum to help everyone start off on the same foot.
Post-degree Career Outcomes
The fact that Masters in Management degrees are aimed at early career professionals, while MBAs are targeted at those with some experience, gives an indication of the careers that students will enter after each degree. Those who complete an MiM degree will likely gain entry level roles. Those who complete an MBA degree, who will be looking at mid-level, senior, or even entrepreneurial roles.
Post-MBA or the MiM salaries reflect the rank at which graduates enter the workplace. According to the Financial Times 2024 rankings, graduates from the top 20 MiM programs across the world earned $112,258 three years after graduating. For MBA programs, this number was $206,922.
No matter which program graduates complete, they are likely to find themselves in similar industries. Whether students graduate from the MiM or the MBA, the majority of jobs can be found in finance, consulting, and technology.
Cost
Since Masters in Managements take only 10 months to complete, versus the two years of a full-time MBA, they tend to require a lower financial commitment. MBAs in the U.S. can rack up fees that top $200,000 across the full program. MiM programs are generally around a quarter of that.
Locations
Traditionally, Masters in Management programs have held top spots in Europe, while MBAs have reigned supreme in the US. 85% of all MiM programs are offered in Europe and tend to dominate worldwide rankings—holding onto 19 spots of the top 20 programs in the Financial Times Master in Management Ranking 2023.
That said, both programs appear to be gathering pace in both locations. MiMs in the U.S. have been on the rise since 2019, while Clear Admit’s recent research revealed that prospective applicants were starting to turn their sights to MBAs located outside the US.
MiM and MBA comparison
Take a look at our side by side comparison of the Masters in Management versus the MBA degree.
| MBA | MiM | |
| Is work experience required? | Yes | No |
| Are GMAT/GRE scores required? | Mostly yes, but waivers possible | School-dependent |
| Are undergraduate business degrees allowed? | Yes | School-dependent |
| General admissions requirements | Undergraduate degree Recommendation(s) Full-time work experience Proof of English proficiency Standardized test scores |
Undergraduate degree Recommendation(s) Proof of English proficiency |
| STEM designation possible? | Yes | Yes |
Ultimately, choosing whether the MBA or the Masters in Management program is right for you depends on the stage of your career you are currently at, and where you want to go next.
