MBA Vs Master In Management: Comparing Careers, Cost & Experience
Piyush Ranjan offers his insights on the MBA vs Master's in Management debate in this week's Applicant Question
Admissions expert Piyush Ranjan explains the most important differences between MBA and Master's in Management programs
Tue Nov 10 2020
MBA or Master's in Management? For years, an MBA was the default option for aspirants looking for a management degree. However, with Master’s in Management (MiM) programs arriving on the scene in Europe, things are much different now for aspirants who aim to build a career in the business world.
In this week’s Applicant Question, we compare these popular degrees in detail, to help you decide if you should choose an MiM or an MBA.
MiM Vs MBA: an overview
I often refer to Master’s in Management programs as the “younger brother” of MBA programs.
Master’s in Management programs are designed for everything that an MBA program is designed for, albeit a small difference.
MiM programs are usually targeted at candidates who have just graduated, or have little to no full-time work experience.
With average class experiences ranging from zero to two years, MiM programs target applicants who wish to learn in detail about various business disciplines, or even switch their career from a different field (for example, engineering or trading) to more management-oriented fields, but do not want to wait for a number of years before doing so.
MBA programs have traditionally targeted professionals looking to gain a broader understanding of business fundamentals after gaining a few years of full-time work experience after their undergraduate degree.
Most top MBA students have an average work experience of four to six years.
Work experience
While it is possible for candidates to have similar career outcomes in terms of the potential “field” of job, there are multiple differences between the two degrees.
Let’s start with the most basic aspect, the curriculum.
Master’s in Management and MBA degrees are both focused on providing a holistic understanding of how businesses run, covering various areas such as operations, finance, strategy and marketing, and even providing further opportunities for specializations in specific areas.
Over the two years in a traditional-MBA or MIM, candidates often spend the first-year learning about all areas of businesses through various core courses and optimize their second-year by focusing on their areas of interests through electives.
While the learning opportunities are similar for both degrees, the major difference arises in their pedagogy.
Since traditional MBA candidates have significant years of work experience with them, the class-discussions are heavily influenced by personal experiences. In fact, peer-learning is one of the strongest suits of the MBA, and exposes candidates to practical situations from a variety of industries right in the classroom setting.
With MiM programs, the learning is much more theory-based since most students have little work experience to draw upon during the classroom discussions. This does not mean that the classes are boring or have little value.
In fact, most MiM programs also recruit candidates from a diverse set of backgrounds, which can lead to many interesting discussions and perspectives, albeit more theoretical.
MBA programs are almost infamous for their high costs. A top program in the US can easily cost the candidate $80-100,000 every year, not a cheap sum by any stretch of imagination.
MiM programs, by virtue of their target audience, are much more pocket friendly. INSEAD, one of the best business schools in the world, launched its MiM program in August 2020, and is the costliest MiM program on the European continent, at a sum of €50,000.
Other top programs cost even less, with the average price-tag between €10-20,000 per year.
Next, let’s come down to the basic reason why candidates go for an extra degree: career prospects.
MBA programs have been the apple of the eye of recruiters for years, and that’s unlikely to change even with the pandemic raging on. The salary figures commanded by graduates from the top programs easily reach $140-200,000.
MiM graduates do not command such high salaries. But it would be unfair to expect them to.
With most candidates having hardly a year or two of experience, MIM candidates usually find positions in the entry-level of management roles, which offer more modest compensation figures.
However, one amazing aspect of the MiM programs is their immense flexibility. Some of the top programs, such as the HEC Paris MiM or the Essec Business School, offer long semester-breaks for their students to explore the corporate world before graduating.
This allows students to do multiple internships and at the same time gives them a lot of choices to choose from, while affording them the time to assimilate well into the society.
With all these facts and figures to help us, let us discuss a step-by-step approach to help you choose between the two degrees.
1. Start with the eligibility criteria
Given that most MiM degrees cap full-time work experience requirements at maximum two years at the time of enrolment, it becomes straight-forward to choose the degree that you should pursue.
If you already have more than 2 years of work experience, then you should be going for an MBA degree instead of an MIM. However, exceptions do exist. Some schools, such as IE Business School, do not accept candidates with more than a year of experience for their MiM program.
Similarly, few MBA programs also accept candidates with less than 2 years of experience. If you are unsure about the eligibility criteria for your target school, just drop them a quick email along with your CV, and they should be happy to help answer your questions.
2. What do you want to achieve?
While it’s understood that in exceptional cases you might be able to pursue an MBA with less than the average work experience or vice-versa for MiM programs, the sensibility of such a decision often comes down to what you want to achieve from the degree.
For example, many candidates coming from a family business background, who aspire to return to their family business post degree completion, might not care much about the post-degree outcomes and opt for an MBA despite low years of experience.
In most cases, the line between choosing MIM or MBA programs is quite distinct. I hope that with the pros and cons of each program laid out clearly, you are able to make informed choices for your future career!
There are more than 50 nationality in the grade, so there are opportunities to interact with people from all around the world. In terms of academics, the BBA course offers diverse courses for the 1st
Student
Verified
6/04/2022
On Campus
Creativity, adaptability and entrepreneurship
The Master in Management program at the ESSEC Business School allows the students to choose their courses accordingly to their preferences and their professional targets. We can also go through international exchange and take part in internships with companies that are also partners with the school. The school is also next to the city of Paris.
Prithwiraj
Verified
17/11/2021
On Campus
Top business school in France
Doing PhD in essec took some time, to be precise about five years. But the experience was very good and cost effective too. There are opportunities for the student for teaching assistantship and that helps both financially and in career. In the final year I could manage to teach marketing to M1 students and this helped shape my career
Student
Verified
30/10/2021
On Campus
Great college
The program is well suited for early professionals with an engineering degree preferably or a degree in economics. I would suggest taking the ceasure irrespective of the experience level as it helps you take your time to adjust to the job market.
Student
Verified
30/10/2021
Blended
Good school in France
I am currently enrolled in M2 in Essec business school. I am specialising in marketing management. The Grande Ecole programme is valued in France and my school ranks very high up. There are a lot of opportunities for internships and CDD.
Student
Verified
9/02/2020
The program curriculum
BBA program. The program is really practical and useful, provide us many international opportunities. Like internship and humanitarian experience, and the flexibility is also really cool, we can choose different campus and tracks as we want.
Véronique
Verified
11/12/2019
International Course
This school is very international and business oriented. Highly recognized by the companies The campus has been renovated and is very functional and modern from now on. Excellent atmosphere. Reputation of essec is a plus
kevin
Verified
11/11/2019
Friends, Career opportunities.
The program I did gave me the opportunity to start in Singapore. I got the chance to know all the students that started there and we bonded and made some friends for life. The career opportunities that ESSEC also gave me were unbelievable.
Student
Verified
25/09/2019
Practical and useful
I think the best thing about Essec is that it's not focusing on academics rather it emphasizes on future job mindset and professional experiences..
The classes are interesting and we have plenty of workshops attributing to different sectors..
The campus is very nice with a good cafe and wonderful library.
The only problem is the location of the campus. It's quite far from Paris.
Kartik
Verified
14/02/2024
On Campus
Amazing experience! Must try
I think its a very amazing school with great and experienced faculty. Also the alumni network is very solid and useful. The school has a great balance of studies and work experience which is really essential for a student.
Ali
Verified
28/05/2024
On Campus
GBBA: Diverse, Enriching, and Career-Boosting
My experience at ESSEC Business School has been outstanding. The Global BBA program offers a rich academic curriculum and diverse learning opportunities. I appreciated the chance to study on different campuses, including an international exchange, which broadened my perspective. The social environment is culturally diverse and vibrant, enhancing both my personal and professional growth. The administration is attentive, constantly offering new academic and student life opportunities. The campus facilities and classrooms are excellent. I highly recommend ESSEC for its excellence, global exposure, and career opportunities.
Maximilien
Verified
5/06/2024
On Campus
ESSEC BS BBA REVIEW
The English track BBA program at ESSEC is simply exceptional. Courses are taught by internationally renowned professors who are experts in their field. The subjects taught cover a wide range of disciplines from marketing to finance, strategy and entrepreneurship. The English track is a major asset because it allows you to develop perfect mastery of professional English, essential in today's globalized business world. Some students love student life at Essec, which is one of the best in France, but it all depends on taste.
Clément
Verified
14/06/2024
On Campus
Great program, incredible school
I love almost everything about this school, from the student life to the academic program and the opportunities it provides.
I'm currently at the Paris campus, in Cergy, and I'm really enjoying it.
The BBA program is very rich and diversified, you can start with geopolitics and then finance, what I mean is that there's a great balance between the subjects in this program.
I was also lucky enough to spend a semester at the Singapore campus, and I loved that experience on the other side of the world.
ESSEC is also known for its dynamic and rich student life, with access to several parties a week and the various associations within the school.
If I could recommend just one school, it would be this one - I'm 100% satisfied.
Rayane
Verified
21/10/2024
On Campus
Great experience
First of all, what I appreciate the most is the academic environment. The courses are extremely stimulating and are taught by high-level professors, often experts in their field. The diversity of subjects offered, ranging from marketing to finance, including entrepreneurship, allows you to acquire a complete and versatile education. The group projects, although sometimes stressful, are also an opportunity to learn to work in a team, which is essential in the professional world. One area that I feel could be improved is the management of student events. Although many activities are organized, I have noticed that some events can lack organization or communication, which can frustrate those who want to get involved. Better coordination between the different student associations and the administration could really improve the overall experience.
Student
Verified
17/05/2025
On Campus
A world of knowledge
ESSEC Business School lecturers are outstanding rockstars! They bring a plethora of knowledge and expertise to the classroom, making each presentation both fascinating and enlightening. They go above and above to ensure their pupils achieve and are always there to offer assistance and support. Let me tell you about the campus! It's a complete game changer. The modern facilities, dynamic learning spaces, and energetic ambiance provide an ideal setting for personal and academic development. Being a student at the ESSEC Business School is like being a member of a close-knit community where you're encouraged to pursue your interests and realize your full potential.
Student
Verified
16/05/2025
On Campus
Education to satisfaction
I am really satisfied with the flexibility provided by ESSEC Business School. There are various reasons why I admire the ESSEC Business School. The staff, both lecturers and employees at The Fresh, are really welcoming and pleasant. Furthermore, the campus size is great since it is small enough to create a pleasant environment where you can feel at home and easily navigate, yet large enough to meet a lot of new people and participate in a variety of activities. The university provides many opportunities for personal development and accomplishment.
Student
Verified
22/05/2025
On Campus
Among the best
While the ESSEC Business School has its challenges, I am very pleased with my decision. This university has provided me with the required skills and information to begin a successful graduate school path. The tough academic environment at ESSEC Business School has fostered discipline in me and the material has been useful. Initially concerned about the school's size, I am now more thankful for choosing ESSEC Business School, as it has provided me with various chances that I am now discovering and embracing on a daily basis.
