MIM vs MBA in UK: Which is Best in 2023?

If you’re a business student at a crossroads in choosing MIM or MBA, you’re at the right place. In this blog, we’ll explore MIM VS MBA in detail.

MIM and MBA are both excellent course choices in the UK for business students. The courses look similar but serve different purposes. What’s better for you depends on various factors, including your age, experience, and career goals. 

MBA or Master’s in Business Administration is undoubtedly one of the most sought-after courses among international students, especially Indians.

The course has a higher ROI, an excellent alum network, and greater value in the market. MBA has a higher fee range, and MBA candidates typically need 1-2 years of work experience. 

MIM or Master’s in Management, much like an MBA, provides advanced level education about business management.

However, MIM is much cheaper than MBA and does not require prior work experience.

Both courses have a standard set of requirements, including a relevant bachelor’s degree, academic transcripts, English proficiency test scores, a Letter of Recommendation (LOR), and a Statement of Purpose (SOP). 

Additionally, you will require two or more years of experience for an MBA. If you want to understand how eligible you are for these courses, you can book a free call and ask our experts. 

Below is an overview. 

Difference	MBA	MIM
Duration	1-2 years	One year
Average Fee	£31,450 – £87,900	£16,000 – £45,000
Eligibility	Standard requirements* + Minimum two years of work experience	Standard requirements
English proficiency test scores	IELTS: 6.5+ TOEFL: 90+	IELTS: 6.5+ TOEFL: 93-100
Nature of the course	Practical and experiential learning	Theoretical
Career Prospects	Senior-level positions	Entry-level positions

MIM Vs MBA: What is MIM?

A Master’s in Management degree is an excellent alternative to a Master’s in Business Administration (MBA). MIM covers all the business fundamentals, and you also get a chance to learn from business leaders. 

This course could be perfect if you have little to no work experience. 

What can you expect to learn?

MIM programs cover all modules related to business management, such as Marketing, Statistics, Operations, Organisational Behaviour, and Accounting. Usually, these topics are covered as foundational programs. 

Once you’ve completed the foundational courses, you learn all the core subjects, such as Business Strategy, Supply Chain Management, and Human Resources Management.

These subjects provide a deeper understanding and are explored well under your one-year course. 

You also have elective subjects which you can select based on your career goals. You may choose from subjects like Entrepreneurship, International Business, and Sustainability.

Pros and Cons of Studying MIM

PROS	CONS
An excellent alternative to MBA	Lower recognition compared to MBA
Shorter duration (one year)	It does not cover all business modules as vastly as MBA
Cost-effective, the fee is almost 50% less than MBA	The alum network is smaller since the course is relatively new
Plenty of networking opportunities	Most jobs prospects are entry-level

Career Prospects and MIM Salary in UK

MIM is equally competitive as MBA, but since MIM candidates usually do not have any work experience, it’s hard to land roles in senior positions.

However, you can be guaranteed to land an entry-level position with a good salary post-graduation, considering your grades and skillset.

Typically as a MIM graduate, you can land the following positions: 

• Business Development Manager
• Social Media Manager
• Investment Banking Analyst
• Marketing Analyst
• Digital Media Manager
• Project Manager
• Financial Services Analyst 
• Graduate Research Analyst
• Associate Consultant
• Business Analyst

The average MIM salary in UK for graduates ranges from 42,500 GBP – 100,000 GBP per year. But, of course, these factors can vary depending on your location, university and skills.

Our experts can help you understand these factors better, so don’t hesitate to contact us if you wish to know more. 

Top recruiters for MIM graduates: 

• BCG
• BNP Paribas
• Mckinsey
• Loreal
• KPMG

As a MIM graduate, you have an excellent potential for career growth. You can definitely expect to land good positions as your career escalates and surely get a good return on investment. 

Top 5 universities for MIM in UK

Most top universities in the UK do offer MIM. Although, it’s best to check the syllabus before you apply. 

Book a free conversation with our experts for a full list of universities and eligibility requirements. Find universities you’re most compatible with! 

• London Business School
• Imperial College London (Imperial College Business School)
• University of Warwick (Warwick Business School)
• Durham University (Durham University Business School)
• University of Birmingham

MIM VS MBA: What is MBA? 

MBA has maintained a reputation for being one of the best programs for International students in the UK. Not only does it extensively cover all aspects of business and beyond, but it also promises excellent career prospects and growth.

MBA program has remained relevant for decades and has a large network of star-studded alum lists, including former presidents, Nobel prize winners, successful CEOs and triumphant entrepreneurs. 

What can you expect to learn?

An MBA or Master’s in Business Administration degree ensures you learn theoretical and practical knowledge about management. Starting right from Marketing to Finance and Human resources, an MBA is an all-encompassing degree that enables you to gain advanced knowledge about these subjects and develop soft skills. 

MBA also extensively covers leadership and entrepreneurship, economics, logistics, supply chain management, business strategy, team management, business ethics and more. 

MBA in the UK provides numerous opportunities to learn experientially through internships, projects and case studies. 

Chat with us if you want to know more about the MBA course structure. 

Pros and Cons of studying MBA

PROS	CONS
Broad and in-depth knowledge of all subjects	Cost is comparatively higher
Higher salaries and career growth	Highly competitive course to get into top universities
An extensive network of alums promotes networking opportunities	Some universities may have two-years of course duration
Chance to get senior-level positions right after graduation	You need two or more years of experience to get admitted
Practical learning and better exposure

Career Prospects and MBA Salary in UK

A Master’s in Business Analytics poses an excellent career. The average MBA salary in UK starts from 50,000 GBP and can easily surpass 200,000 GBP, depending on your company, location, and skills.

As an MBA graduate, you can land the following positions: 

• Management Consultant
• Investment Banker
• Finance Manager
• Operations Manager
• Finance Analyst
• Human Resources Manager
• Manager- People Consulting
• Client Success Specialist
• Field Marketing Manager

MBA graduates usually possess a strong sense of leadership qualities, are team players and are experts in decision-making. Employers value these qualities and are always on the lookout for MBA graduates. 

Some of the top recruiters for MBA graduates are,

• HSBC.
• EY (Ernst & Young)
• McKinsey.
• International Business Machines (IBM) Corp.
• Hamleys.
• Accenture.
• Microsoft.
• P. Morgan Chase & Co.

Top 5 universities for MBA in UK

Studying MBA at top universities has its own privileges, especially when it comes to landing a job.

Talk to our experts if you’re curious about what universities you’re suitable for based on your grades!

You will also get a complete list of universities in the UK that are great for an MBA. 

Below is a list of our top 5.

• Coventry University
• University of Greenwich
• University of Hertfordshire
• University of East London
• University of Manchester

MIM VS MBA: Which is Better?

In a nutshell, MIM is better for students with no work experience. This course will give you a decent career launch, and you can easily land a well-paying entry-level job right after graduation. However, the course is primarily theoretical in nature. 

MBA is an extensive course that requires a lot more coursework and time. To be eligible for MBA, you mandatorily need two or more years of experience.

An MBA degree can land senior positions right after graduation and offer better pay and career advancement.

The best program depends on your requirements and factors such as age and career goals. Though both of these courses have much to offer themselves, it is incomplete without your efforts and skillset. At the end of the day, you can make a lot of difference by putting in consistent work!

So, consider all financial and academic factors and choose wisely! 

An easier way to determine what’s best for you between MIM VS MBA is to talk to an expert who can understand your grades, interest, financial restrictions and point you in the right direction. 

Leap’s Experts have helped thousands of students land programs and universities of their dreams. Book a FREE session with us today.

Tell us about yourself, and we’ll help you figure out the rest!