Thanks to the London Business School Masters in Management representatives, we had yet another successful London Q&A. See the chat excerpt below for important information on the difference between London’s MBA and Masters in Management programs.
Linda Abraham: What is the difference between the MBA and the MiM?
Lisa Mortini: That is a very valid question, and a lot of students actually ask themselves that question. It is absolutely a good question to start thinking about when you start looking at furthering your education and also at your career path. There are very big differences, but I would start by talking about the things that are common between the two programs. What is common is that some of the topics that we cover in the MiM are very similar to the topics that are covered in the first year of the MBA because they are core courses on finance, macroeconomics, and leadership. And these things are the basis of management and they are topics that are covered on the MBA.
Another similar point is that if you do your MBA here at the school, you have access to the school community, the school network, and the clubs and events and activities…
The main difference really is that for students who apply to the MiM program, they do so at a very different level in their career. There will be students who just graduated from their undergraduate or are about to graduate from their undergraduate studies. And they are really looking to feel more confident, to find the right career path, to change a degree that maybe was a degree in liberal arts like history or philosophy and turn that into a business degree and do a conversion. So they come from different backgrounds, but what they have in common is that they are recent graduates that are looking for a course that is going to help them get in the door of businesses and get their foot in the door of these companies that they have an interest in. So they are much earlier on in their careers.
For most of the MBA students at our school, the average is actually about 5 ½ – 6 years of work experience…
All students are also in different situations in terms of where they see themselves going. A lot of our students will be very determined on a career path, and they know they want to do this course to get there and have the right connections. But a lot of them also won’t know exactly what they want to do, and so they think, which is quite right, that through doing this course they will get access to a lot of opportunities and they will learn about new careers that they haven’t thought about before. MBAs are already in their career; they are more aware of these things. What they are looking for is generally a change of career. They’d like to convert 4-5-6 years of work experience into a new career. So they are doing the programs for different reasons.
Prateik Pothuneedi: One of the major differences is that obviously the MBA program is much longer than the MiM program. It is a two-year program, and they could do an internship and they have a much longer exchange period. But I think at this point it is worthwhile to understand that there is a high level of interaction between the MiMs and the MBA students. In fact, in the clubs we see that the MiMs and the MBA students have pretty much equal standing, and there is a lot of interaction. And the MiM students do get to learn a lot from the MBA students who tend to be a little bit more experienced.
Lisa Mortini: Where the students go afterwards is also very different. Our students, once they graduate from the MiM, will be looking at entry level – graduate schemes, whereas MBA students will be at a slightly higher level in their career and looking for slightly different jobs.
Daniel Lay: Absolutely. I think you’ve hit the nail on the head there. If we were to take an investment bank or a financial institution, the MiM students will be going in at the analyst level, whereas an MBA student would be going in at the associate level. Our MiM students will be competing still against undergraduate students. So they are going into those graduate programs with that same level of student. But what we hope is that the MiM does give them an added advantage when it comes to the application stage and the interview stage in the schools, with all that they developed through the course and through the Professional Development Program that they get as part of their MiM program. So the entry points are different for the MBA. Think along the lines of graduate level entry point, as opposed to associate program.
As you can see, there’s a lot to think about when applying to one of London’s programs. During this chat, we talked a lot about the difference between the MBA and MiM programs (view the full transcript or listen to the audio file here). But this top b-school offers another program as well that may be right for you – the Masters in Finance (MiF) program. For more information on this degree, please see past London Business School transcripts here and here.
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