The Best MIM programs vs. IIMs
This post is a bit different and is specifically aimed for our Indian audience. We will explore and compare the best Masters in Management programs in the world with the Indian Institutes of Management, and their flagship PGDM degrees.
The best MIM programs and the top IIMs can really propel the students towards a wonderful career.
Let’s start with some of the similarities first -
Student Profiles: Both the MIM degrees and PGDM from IIMs are targeted at a similar profile of students - young, fresh graduates, who are yet to start their careers or have 1-2 years of work experience.
Competitiveness: Whether you apply for a top MIM program, or want to study at the famed IIMs, the competition is always extreme. You will only make it through if you are able to show a high level of achievement, perseverance, and a clear vision of your future.
Brilliant Education: Of course, one of the biggest reasons these programs are termed as the best in the world is because of the high-quality of education imparted through these programs.
Strong career options: Another very important aspect of the best MIM programs and of the top IIMs is that they can really propel the students towards a wonderful career.
If you want to have a global career, spanning different countries and cultures, there is no comparison between a top MIM program and the IIMs.
Now that we have seen the similarities between the top MIM programs, and the IIMs, it’s time to take a look at the key differences.
Application Process: Arguably one of the biggest differences would be in the application process for the MIM programs and for the IIMs. While you need to perform exceedingly well in the CAT to get interview calls from the top IIMs, for the best MIM programs, you need to take the GMAT or the GRE. These scores are not the only criteria, however, and need to be supplemented with your complete profile including essays, statement of purpose and letters of recommendation. If you are able to entice the admissions committee, then they call you for a round of interviews before handing over an admit decision.
Cultural Experiences: Another aspect of top MIM programs is their high international outlook. Most of the top programs often boast of up to 100% international students, which can lead to very high cultural exchange and learning for students. This aspect often gets subdued at the IIMs where almost everyone is coming from India!
Kick-starting a Global Career: If you want to have a global career, spanning different countries and cultures, there is no comparison between a top MIM program and the IIMs. While IIMs can provide you with strong career options in India, the MIM programs, due to their inherent international aspects, can easily launch you into a global profile.
Cost of Study and ROI: The IIMs usually cost around 20-25 lakh rupees in tuition fees- and the average placements at the top IIMs, A/B/C, are around 22-25 lakhs. In contrast, the top MIM programs vary significantly in their costs, often depending on the country, and the type of university (public/private). A top public university in Germany (University of Mannheim), can cost you as little as 80,000 rupees in tuition fees, while if you study from HEC Paris the fees could be as high as 28 lakhs. However, the high average salaries from these universities, up to 60-80,000 euros per year, can very easily bring the ROI to net positive quickly.
All said and done, both, the top MIM programs and the IIMs have inherent strengths and weaknesses. You should think deeply about how you want to shape your career and then make informed decisions based on your research.
In case you are wondering if you should apply to the best MIM prorgams, then get in touch with us at firstname.lastname@example.org
Piyush Ranjan is the chief consultant for Management Masters. He did his undergrad from IIT-BHU, and then studied at the SIM program of the University of St. Gallen. He has helped multiple students get admission calls from HEC Paris, ESSEC Business School, and other top Business schools worldwide.