MBA Vs Business Management

[kavita]

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I want to build my career in management line and searching for some details about the Master of Management (MIM) or MBA degree course. Will you provide basic difference between MBA Vs Business Management also provide details about admission criteria for both courses?

[sumit]

The Master of Management (MIM) helps graduates to start a career while the Master of Business Administration (MBA) helps young professionals and professionals to enhance and develop their management career

Key Differences between MIM and MBA

1. Age

MIM programs usually do not require professional experience although they are open to young professionals who have been working for some time, mostly up to a year.

As a result, the Master in Management students are generally much younger than fulltime MBA students, at some schools the average age is 23 years (with a range from 20 to about 27 years) compared to the average age of 27 to 32 in MBA programs.

Tuition fees

As for the tuition fees, the Master in Management programs are cheaper than MBA programs.

Whereas the most expensive fulltime MBA program in Europe offered by the London Business School sums up to over 70,000 (August 2013), the most expensive MIM programs cost only about half of that.

Admissions criteria

GMAT: For MBA programs, business schools attach great importance to the Graduate Management Admission Test (GMAT) - particularly, when the school or program is renowed or highly ranked.

Though many schools also offer the GRE or their own on-campus tests as alternatives, the GMAT is still an important means to select MBA students. Also for MIM programs, business schools seem to increasingly require the GMAT.