Master in Management (MIM) has gained a lot of popularity recently and has been coming up as a great alternative to MBA. Master in Management is meant for new graduates and early career professionals who want to focus into the business and management sector.
It is typically of two types: one-year MIM and two-year MIM. Most of the programs are one year only, which provides appropriate training to boost employment prospects of students. The two-year programs are more to do with a specialised training in the second year. One can even take a gap year between the first and the second year to get 12 months of work experience, thus rounding it up to three years. There’s even an option of taking an online MIM, which is much more flexible and easy to access. It is a great option for candidates who want to work as well as complete their master’s degree together. There are some universities who offer specialised masters in management too, which focus on a particular subject or industry.
Many people confuse MIM as a type of MBA. The major difference between MIM and MBA is that MIM requires little to no work experience whereas MBA requires a few years of work experience. Some of the topics of a typical MIM would include accounting, finance, business administration, marketing management, supply chain management, and entrepreneurship.
MIM comes with a lot of advantages too. Some of them include their international orientation, an opportunity to learn from the best business leaders worldwide, flexibility of little to no work experience, its relatively lower fee, and the way in which a person can inculcate the required set of business and entrepreneurial skills. To sum up, if a person wants to do a masters without a proper work experience, then MIM is the perfect course for them.