Katie Schenk - November 05, 2019
Choosing between a MiF, MsBA, MiM or MBA degree is a debate many people have. Take a look at how these degrees stack against each other, and find the one that’s best for you.
MiM, or Masters in Management, is a special post-graduate programme that offers in-depth knowledge of management to graduates with or without very little work experience. This one- to two-year programme is quickly gaining importance and is being recognised as an excellent degree by many business schools.
MiF, or Masters in Finance, is a masters degree that is usually considered to be quant-heavy, and it is usually undertaken by students who wish to pursue a career in corporate finance. However, the degree is not limited to that one field and opens up a lot of avenues for potential candidates.
MsBA, or a Masters of Science in Business Administration, degree is a specialised one -ear programme. In this degree, aspirants tend to focus on a specific area to become an expert in that particular field.
It’s easy to fall into the habit of equating business master's degrees with MBAs.
The Master of Business Administration is, after all, the most recognisable graduate business school offering. And, you’ll find top programmes on every continent. Plus, the intensity of MBA applications makes it difficult to ignore this degree.
MBA programmes deserve all the credit they receive. But, that doesn’t make an MBA right for everyone. Nor does it need to be, there are a lot of master's degrees that offer incredible career progression.
European universities have long been a proponent of accelerated business programmes. That’s evident in their 1-year MBA programmes.
But, shorter doesn’t necessarily mean less intense. That’s the driving force behind specialised business masters such as the Masters in Management (MiM), Masters in Finance (MiF), and the Masters of Science in Business Analytics (MSBA).
What’s the difference between MBA, MsBA, MiF, and MiM degrees? One of the most obvious is the age of the applicants.
MBAs are encouraged to wait until they have 5 to 7 years of experience under their belt before submitting their applications.
Applicants to MiF, MiM, and MSBA programmes are usually younger. Programmes, such as the MIT Sloan Master of Business Analytics, are designed with newly minted grads in mind.
That doesn’t mean they turn away applicants with some experience, the equivalent degree at McCombs School of Business at the University of Texas at Austin offers the following advice to prospective students:
“No work experience required, though students with work, leadership, and/or professional development experience are encouraged to apply.”
Another big difference is the price of these degrees.
Most MiF, MiM and MSBA degrees are about half the price of MBAs at the same university. At HEC Paris, an MSc in International Finance has a base tuition fee of €33,625. Compare that with their MBA’s price tag of €72,500.
In both cases, you’re sitting with a master’s degree from one of the most recognised and respected European universities – and you’ve spent the same amount of time studying.
So, when you look at MiF, MsBA, and MiM vs MBA programmes, the key differences are cost and work experience.
It should get you thinking about the possibilities.
We’ve taken a look at MiF, MsBA, and MiM vs MBA programmes, but it’s important to see how these three compare against each other as well. When it comes to MiM vs MiF, the cost will depend on the university. A Master in Management vs a Master in Finance degree differs a lot in curriculum, career options, and more.
And, as we said, there are plenty. Just look at these MiF programmes and their tuition costs.
These are the Financial Time’s top ranked Masters in Finance programmes. Have a look at some of the most prestigious universities in the world, offering you the MiF programme. Numerous business schools offer this programme, and we have a comprehensive list for you right here! Ranging from the IE Business School Master in Finance degree to Skema Business School’s programme, we’ve got you covered.
This list isn’t the same as you may be used to seeing for top MBA programmes.
Sure, there are familiar names such as HEC Paris and ESADE, but some of the top schools for MiF programmes aren’t the same as top schools for MBAs.
More than that, almost every degree listed in the top 10 is based in Europe. The exception is the MIT Sloan Master of Finance degree – and, sitting in seventh place, carries much higher tuition than European programmes.
But, the specialisation in these degrees should also be fairly obvious. It’s not just a straight up Masters in Finance. There’s an MSc in International Finance, an Advanced Master in Financial Techniques, and even a slightly unusual HSG MA in Banking and Finance. (It’s unusual as it is a Master of Arts, rather than a Master of Science.)
Looking at MBA vs MiM degrees and universities, you’ll see similar variations in the top MiM programmes (at schools with MBA programmes) as ranked by the Financial Times.
You should see a lot of similarities when comparing these schools to the previous list. You'll see plenty of university overlap as each of these is also a European institution.
You can see the difference in the price structure. It’s not universally half, but the average works out about the same as MiF programmes. Choosing between MiM vs MBA is a long-drawn debate. Take a look at some of the best MiM programmes and decide for yourself what suits you best.
Many of the top MsBA programmes in the world are offered in Europe and USA.
As already noted, the Master of Science in Business Analytics expects applicants at the start of their careers rather than several years into it. And, like the MiF and MiM programmes, it’s typically a consolidated 1-year programme.
When it comes to Masters in Business Analytics, Europe and USA are leading world rankings, and offer excellent programmes.
When looking at MsBA vs MBA, you need to consider various components such as cost, value, relevance, etc. An MBA is a more general course, whereas an MsBA degree offers specialised knowledge in a particular field.
See why Vinaught chose to pursue an MSBA:
Their novelty can be seen in the lack of rankings by traditional business school programme reviewers. You won’t find a Financial Times top Master of Science in Business Analytics table, nor is there a U.S. News & World Report ranking. TFE Times has a solid ranking, and it tells us that there are some similarities between the MsBA and its European specialised business masters cousins.
Numerous universities offer business analytics masters in Europe, USA, and the rest of the world. Here is a list of some of the best MsBA programmes to consider:
For a start, the names look different to those you would find on top MBA rankings. Sure, you’ll see plenty of these institutions on the list, just generally not so high in them.
Looking at MiF and MiM vs MBA, it’s interesting to note that some of the top MBA schools also find their way on the list of schools offering the best MiM and MiF programmes. IE Business School offers a Master in Business Analytics and Big Data and ESADE has recently launched its MSc in Business Analytics.And then, there are the price tags. They’re tough not to notice.
Learn more about Niharika's MSBA journey and how she's financing it:
MiF, MsBA, or MiM vs MBA: Which degree is the best for you?
An MBA isn’t right for everyone. Not everyone needs it. Not everyone wants to wait until they’re 8 years into their career. Some may want to study in the United States, but can’t afford 2 years without an income to do it. And, yes, some may be swayed by the cost of an MiF, MsBA, or MiM if they can use those degrees earlier in their career.
That’s especially true given that universities like to demonstrate the overlap between the specialised business masters and the MBA. It’s believed that as much as 30% of MiM and MBA content overlaps.
Though MiM curriculum leans towards theoretical work and MBAs tend to focus on practical experience, it’s not surprising that institutions leverage existing material in new ways. So, another difference between MiM vs MBA is the curriculum - although some of the same material is taught in both programmes.
Each one of these master’s degrees shares another quality with the MBA; universities are looking for the best talent. You’ll still need an awesome essay and hours of study towards a terrific GMAT score. And, you’ll spend just as much time considering the universities and programmes that will be the best fit for you.
Need funding for your masters abroad?
Prodigy Finance provides loans to international students pursuing their masters at top schools across the globe.
Post updated for accuracy and freshness on November 28, 2020. Originally published on June 28, 2018.
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