Which is Better — A Masters in Management in UK vs MBA in UK?

Are you planning to pursue PG courses in Management in the UK?

If yes, you are in the right place! Masters in Management in the UK (MiM), as well as MBA in the UK, are both profitable options! Masters in Management in the UK is a 1-year full-time program. At the same time, the MBA is mostly a 1-2 year journey.

The Masters in Management in the UK trains recent graduates on various academic aspects in the field of Management. MBA in the UK, on the other hand, trains students on more practical aspects of Management and is designed for relatively experienced professionals. Let’s discuss both these courses to understand better.

What is a Masters in Management in the UK?

Masters in Management in the UK is basically designed for the recent undergraduates to start their career in business. MIM is a degree that offers management education to students who do not have a great deal of work experience and are freshers.

According to the 2016 GMAC survey, the number of aspirants applying for MIM (Master in Management) has increased by about 50%, the Master in Management degrees are becoming a good alternative to the MBA courses.

But, the MBA and MIM degrees don’t essentially compete with each other. Both these courses are equally important in their own way with respect to their individual goals. So, here is some comparative information about Masters in Management in UK and MBA in the UK to help you plan better.

Masters in Management in the UK vs MBA Degree — What You Will Study?

Both Masters in Management in UK and MBA in the UK are postgraduate courses in general Management, what about their content then? The Masters in Management in the UK offers in-depth theoretical experience and knowledge in the field of Management and is research-oriented.

Masters in Management in UK aspirants focus more on using statistics and other systems to understand the various aspects of the business. MBAs main target on live business case studies. MBA courses are more practical-based and need hands-on knowledge and focus on developing problem- solving skills, and enabling aspirants to find innovative solutions for diverse issues.

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A Comparison Between Masters in Management in UK and MBA in the UK

Let’s check the comparison of MBA in the UK and Masters Management in the UK in terms of experience needed, class profile, fees, and goals.

Work knowledge and Experience – Masters in Management in the UK encourage the aspirants, having experience, less than 2 years. This course focuses on fresher graduates who have just completed their graduation. MBA in the UK will need students to have at least 2 years to 5 years of work experience.

Class Profile – Since MIM in the UK does not accept work experience, the average work experience of aspirants in the class is low. In the MBA class, the work experience of students is between 2 – 10 years. Therefore, the MBA course focuses on more practical aspects of learning in management education.

Cost of Masters in Management in UK and MBA in the UK – The average fees for Masters in Management in the UK are between 20,000 to 33,600 GBP. On the other hand, most MBA courses in the UK are hovering between 30,000 – 90,000 GBP.

Tuition Fees for Master in Management in UK vs MBA

This is a sure plus for a Masters in Management in the UK which is generally less expensive than the MBA degree. Tuition fees for a Masters in Management in the UK can be between 2,000 to 30,000 GBP per year.

The approximate fees for MBA courses can be between 30,000 and 90,000 GBP in business which is expensive in comparison to MiM in the UK.

MBA Careers vs Masters in Management in the UK: Careers

As long as the Masters in Management in UK degree increases career opportunities for fresh graduates while MBA graduates can get job offers with better scope and compensation than before. Aspirants of EMBA will look to learn more than what they have learned at work to further upgrade skills and enjoy promotions or better job opportunities. 

The average annual salary of MBA graduates is 70,000 to 100,000 GBP, while that of the graduates of Masters in Management in the UK are offered 30,000 to 40,000 GBP. So, a salary-wise MBA is ahead of MiM. But again, MiM in the UK is popular among freshers while MBA is suitable for little experienced professionals.

Common Job Roles after Masters in Management in the UK are:

• Marketing Executive — 30,000 GBP per year.
• Marketing Manager — 41,000 GBP per year.
• Operations Manager — 36,000 GBP per year.
• Business Analyst — 37,000 GBP per year.

Some of the top recruiters are – Barclays Bank, Lloyds Banking Group, Cathay United Bank, Clydesdale & Yorkshire Bank, PwC, KPMG, Ernst & Young, Transport for London, GSK, Zeppelin, and others.

Job Roles and Salaries after MBA in the UK are –

• Assistant BD Manager — 131,000 GBP per year.
• BD Manager — 184,000 GBP per year.
• General Manager — 200,000 GBP per year.
• Manager — 190,000 GBP per year.
• Planning Director — 220,000 GBP per year.

Some of the popular hiring companies are – Amazon, Boston Consulting Group, Apple, Bain and Company, Morgan Stanley, McKinsey, Citi, JP Morgan, Goldman Sachs, and others. 

Masters in Management in UK & MBA in the UK — Eligibility Requirements

We have mentioned the eligibility requirements at top colleges offering Masters in Management in UK and MBA in the UK. You can check them and prepare accordingly.

Masters in Management in the UK – Eligibility Requirements

We have mentioned the eligibility requirements at top colleges offering Masters in Management in the UK.

MBA in the UK — General Eligibility Norms

Please note the general eligibility criteria to study MBA in the UK below:

• A UG degree is needed with 2:1 qualification, which is equivalent to 50-60% (some schools may ask for higher scores)
• A 600+ (minimum) in GMAT is essential for taking admission to top colleges.
• Average work experience of 5 to 6 years is preferred.
• IELTS: 6.5+ and TOEFL: 95+ are minimum requirements for English language proficiency.
• A resume, CV, Personal statement are also required along with the visa.

Masters in Management in UK or MBA in the UK — Top Colleges

If you wish to be successful and make a career in the field of Management, both MBA and MiM degrees can teach you all the strategies and concepts you will need. But it depends on the objective of the student, some prefer to study right after graduation, and master’s programs are always less expensive. Some may like to gain real-life experience and then pursue an MBA to learn complex theories and their intricate applications in the business world. Listed below are the names of some of the top colleges offering Masters in Management in the UK and MBA.

The Best Colleges Offering MiM in the UK 

The list mentioned above shows some of the top colleges offering Masters in Management in the UK. Their fees and duration are also mentioned along with QS ranks.

The Best Colleges Offering MBA in the UK

Mentioned here are the colleges offering MBA in the UK, their fees and ranks are also mentioned. Please take a look at the same.

Masters in Management in the UK & MBA — Notable Scholarships

Whenever you plan to study abroad, finances are a very important aspect that all students have to take care of. Hence, scholarships become very critical. The UK also offers a range of such scholarship programs. Mentioned here are some of the scholarship options to study Masters in Management in the UK.

Well, Masters in Management in UK and MBA in the UK both offer good career options. But as MBA deals in a more experienced pool of aspirants, the salary offered to post an MBA is more than MiM courses.

But MiM too offers good placements just after graduation at a lesser cost. This attracts many fresh graduates towards a Masters in Management in the UK. Thus, Masters in Management has increasingly become a viable option nowadays for graduates looking to start a career in business early.

The above information about Masters in Management in UK vs MBA in the UK includes criteria, colleges, course fees, and scope, everything you need to know to make a better decision.

Additional Reading:

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• Top 5 Universities in Singapore to Earn an Accredited Degree
• What Are the Career Options Available with a Global MBA degree?
• 12 Highest-Paying Jobs That Require a Master’s Degree
• How Getting a Master’s Degree Can Boost Your Career
• A Master’s Degree in Finance — Here’s Why You Should Consider It