MiM Offers an Alternative for the Ambitious
‘Employers are increasingly looking for emotional intelligence and social leadership potential.’
Published: February 26, 2014 (Issue # 1799)
With the effects of globalization creating a volatile and ever-changing business environment, it’s no surprise that this in turn has affected business education, in terms of both the value and popularity of certain qualifications. While the Master of Business Administration, or MBA, still remains the most recognized management credential, the number of students applying for the program has fallen in recent years in favor of a more accessible and affordable option — the Masters in Management, or MiM, degree.
Related: The Business of Education: The Education of Business
The recent surge in popularity for the MiM is especially evident in Europe. From the number of students who sat the Graduate Management Admissions Test, or GMAT, last year, 44 percent applied to MiM programs — an upswing of 23 percent from 2008. In Russia, growth last year was just as significant with 32 percent of GMAT applicants looking to complete a MiM — up from 17 percent in 2008.
Roland Siegers, executive director of CEMS, a global alliance in management education that runs its own MiM programs around the world, is not surprised by the figures. He believes that the MiM is on track to replace the MBA as the management degree of choice.
“Beyond excellent grades and proven intellectual capacities, which remain a must, employers are increasingly looking for emotional intelligence and social leadership potential,” he said, speaking to The St. Petersburg Times.
Related: Education U.K. Helps With Studying Abroad
“The MiM’s young graduates are increasingly being seen as an asset as they are not only university-trained generalists in management but are more willing to accept change and better deal with the evolving business market.”
The major difference between the two programs is the entry requirements. The MiM is immediately available to Bachelor graduates with little or no work experience whereas the MBA can only be undertaken after at least five to six years of experience. There is also a substantial difference in cost. The MiM is similarly priced to a Bachelor’s program whereas an MBA can cost up to twice that amount.
Pages:  [2 ]