Posted by - PL1206 - on 26 December 2013 - 7:04am

• Posted by - PL1206 - on 28 December 2013 - 11:52am

  Dear Mr. Graf,

  Thanks for the reply.

  But my primary reasons for considering MIM program are-

  1. Financial concerns- MBA costs more than MIM
  2. I have no business/economic back ground and I thought I should start with something more basic in the field.
  3. I would like a change of field and I think in a general management program I will have more options than I do now.
  4. I want to work in Europe.

  I already have a GRE score of 308 (quant-158, verbal- 150, AW- 3.5). I know that this isn't the most ideal score but if I were to apply to ESCP for Spring session 2014, would this score be in any way acceptable?
  Or I will have to prepare for GMAT in a month and take my chances.

  Reply

  • Posted by - Thomas Graf - on 31 December 2013 - 12:15am

    Hi there,

    thank you for your question. I understand your thoughts but I don't see a reason that conflicts with the idea of doing an MBA.

    "I have no business/economic back ground and I thought I should start with something more basic in the field."
    An MBA is basic and for people from all academic backgrounds. Depending on the school and program, only about 20 - 30 percent of a class have a business background.

    "I would like a change of field and I think in a general management program I will have more options than I do now."
    That makes absolutely sense! An MBA is the right program for this.

    "I want to work in Europe."
    Also this is no argument against an MBA or for a MIM. An MBA is known in Europe - at least in the internationally acting firms - and you can apply for jobs in in Europe with an MBA from any institution in the world. If you do the MBA in Europe, you can find many 1 year programs, however, and thereby save the opportunity costs of not-working for 2 years (as in most MBAs in the US). Forbes, in fact, has just found out that European MBAs achieve better ROIs than US-American (here is the article).

    "Financial concerns- MBA costs more than MIM"
    This is true if you compare an MBA with a MIM at the same institution. You can find less expensive MBA programs in Europe, however, and good schools offer financing opportunities. Finally, you may get the opportunity to work for the school during your studies.
    [ul][li]Depending on the school, you may officially work and get the money (e.g. EUR 400 per month) while not working the full amount of hours in fact. This is no official information but an advise that I found valuable during my career.[/ul]

    The decision is solely on your side and I don't get a provision if I push you toward an MBA. I do recommend you considering an MBA, however, because I think it would be better for you.

    MIM programs - at least most of them - are programs for graduates with no or little experience only. They are designed for this group of people; you don't learn from the work experience of your classmates because they don't have it; and thee programs attract firms with career entry positions. Many MIM programs would not accept you with your work experience even.

    By contrast, MBA programs are for young professionals and for professionals; you learn from your classmates' experience; and good schools attract employers with advanced positions.

    If you still prefer a MIM I recommend you to look out for programs where the students are a bit older and more experienced. Check the student demographics and class statistics on the schools' websites for this. You may also want to use our search engine and the PROGRAM TYPE category "Master in General Management for Professionals" to find MIM programs for more experienced people.

    Best wishes
    Thomas

    By Thomas Graf

    Reply

• Posted by - Thomas Graf - on 27 December 2013 - 5:53pm

  Hi there,

  thank you for your questions. Whether starting a MIM in 2015 at ESCP is too late - in other words, if you will be too experienced for a MIM by then - can be easily found out by just asking the ESCP.....

  In general, with 3 years of work experience you qualify for an MBA, not necessarily for a Master in Management. You can also check the ESCP website and student demographics to see how close your profile comes to the average class.

  The other question depends on what you want. Do you want to build up rather general management knowledge, then you do the Master in Management to MBA. This means you broaden your knowledge base and qualify for management jobs.

  Alternatively, do you want to deepen your existing knowledge base and become an expert in your area, you do a Master in Civil Engineering. Note that doing a Master in Civil Engineering does not mean that you cannot do an MBA later on as well. In fact, there are so many study options (also part-time, besides your job) that you just need to decide what you need RIGHT NOW as your next career step.

  best wishes
  Thomas

  by Thomas Graf

  Reply