MBA vs MiM

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MBA vs MiM

by tarungupta » Thu Jul 12, 2012 10:51 am
Hello,

I am an engineering graduate from India. I would be graduating in August this year. I am mulling over two options whether to go for an MBA five years down the line or a Masters in Management program right now.
I know that the MBA program is more practical as opposed to MiM which is more theoretical and also there is no summer internship in an MiM program.
But as an engineering graduate I don't want to wait for 5 more years and moreover if I do wait my work experience would be in the IT field which would not help my candidature very much.
Of course if I go for MiM I will apply for the fall 2013 intake and I will have a work experience of 1 year by the time I join which I am not sure is a positive thing as most of the students join this course straight from their undergrad schools.

The doubts that I am having are:
1. After completing my MiM and working for around 5 years would I be earning as much as a fresh MBA graduate.
2. Will not having an MBA restrict my growth prospects in a company?

Regards,
Tarun Gupta
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by MBAPrepAdvantage » Thu Jul 12, 2012 12:31 pm
Tarun,

To answer both your questions, it depends.

In certain companies not having an MBA presents a ceiling, but usually it does not. One reason people pursue an MBA is to offer flexibility for switching companies, industries, careers, etc., but usually not because their careers cannot advance without an MBA at their particular company. However, you might not be able to obtain certain jobs without an MBA given your technical background.

As far as earning power that also depends on the quality of the job you obtain after the MiM program and your career trajectory afterwards. I would recommend you look at the employment reports for the top MiM programs and compare these to the salaries from top MBA programs (you can extrapolate salary growth for the MiM programs).

Taking this up many levels, if you are unable to transition into the business side within India, going to a top MiM program might be an excellent option for you.

Good luck,
Michael Cohan
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by tarungupta » Sat Aug 18, 2012 11:31 am
Thank you Michael for your reply.

The top MiM programs offered by schools like Fuqua School of Business and London Business School report an average salary of 60k USD upon graduation. I am little skeptical as to how much growth can I expect in my salary after working for say 3 years. Because then I wouldn't want to go for an MBA and I wouldn't want to feel restricted because of not having an MBA. Could you help me out with extrapolating the salary growth keeping in mind the current US market and economy.

Regards,
Tarun Gupta

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by MBAPrepAdvantage » Sun Aug 19, 2012 6:51 am
Tarun,

There are a whole host of assumptions, any one of which could be wrong. I would recommend searching for anybody who has done a similar analysis or finding "expert" economist projections for your model.

Good luck,
Michael Cohan
MBAPrepAdvantage Founder & AIGAC Board Director
305-604-8178
www.mbaprepadvantage.com

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