mba or master in management???

General Questions
  • Posted by janIneburchill on 09/14/12 11:20pm

    Dear Thomas,

    I am 32 years old and have a position as marketing manager in an international company. Now I plan to do an mba. my problem is that the top ones are expensive. wouldn't it make sense to do a master in management? they seem to be much cheaper and provide the same content.

    I'd appreciate your opinion....

    • Posted by Thomas Graf on 09/14/12 11:25pm

      Hi Janine,

      thank you for your question. I agree - on average MBA programs are more expensive than Masters in Management (MIM). MIM programs actually are about 63 percent cheaper on average as we found out in an international master in management study.

      However, keep in mind that MBA and MIM programs have different target groups and fulfill different purposes. MBA programs are for graduates with no or only little work experience. They help starting a career.

      MBA programs in contrast are for professionals who have at least 2 or 3 years of work experience. The goal here is to develop your career.

      Also, professionals ususally have more money than graduates - they may have some savings for instance or they may become supported by their employers. That's the reason for the higher prices.

      You are the perfect MBA candidate in my opinion. If you apply now and start in 2013, you will have 3 years of work experience and clearly should go for an MBA and not for an MIM.

      Best wishes

      By Thomas Graf
      Owner MBA Compass

    • Posted by janIneburchill on 09/15/12 1:42pm

      tx Thomas - i was not aware of that distinction. ok, it seems that I need to spend some more money that i expected... :)

      all the best and keep on running that forum!!!

    • Posted by Thomas Graf on 09/15/12 1:57pm

      Try to get a very good GMAT score (650 or more) and apply for scholarships! Schools ofte offer the opportunity to apply for mor ethan one scholarship of those listed on their Financial Aid site.

      Good luck!
      Best wishes

      By Thomas Graf
      Owner MBA Compass