What is Master in Management?
It is a degree given to business bachelor’s graduates on successful completion of the management course. It is a post-graduate program which gives basic as well as advanced management knowledge to the business students. It can be successfully obtained along with a Master of Science (M.Sc.) or Master of Arts (M.A.) degree. It means that no prior knowledge of business management functions is needed to get this degree.
This degree was created to have a cheaper alternative to MBA. Also, sometimes it is considered as a precursor to MBA degree as it provides basic and introductory knowledge of how to manage business and lead a team.
What are the Seven Reasons which make Master in Management Better than an MBA?
MIM has several advantages. First of all it does not require any work experience prior to admission as required before MBA admission. Practical exposure is much more than MBA as theoretical part is less. The seven most effective benefits are listed below:
- It is oriented internationally: Most of the MIM courses are designed in such a way that international students worldwide can take this program. These are offered in English and can be covered by students easily. MIM is very popular not only in Europe but also in Asia, Australia, and Canada.
- No or little work experience needed: It is one of the greatest advantages which are provided by MIM. The bachelor’s graduates can take admission in this program soon after the completion of their degrees. In MBA a work experience of 3 to 5 years in required prior to admission.
- Gives a versatile study experience: Apart from theoretical knowledge, MIM has a lot of practical exposure. Guest lecturers from leading business organizations guide students from time to time.
- Experience from business leaders worldwide: As institutes have collaborations with leading organizations, travelling to different countries will expose the students to different business environments.
- Development of managerial skills: Various skills are developed in students of MIM like marketing, HR management, Project management, IT and innovation.
- Affordable leadership knowledge: MIM is quite cheaper as compared to MBA. The fees range from 2000 to 30,000 EUR only depending on the university, program and location.
- Open to experienced as well as fresh graduates: More than half of MIM programs do not require a degree in Business and Economics. Most of the students looking for a career change are highly benefitted.