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Here are my 2 cents on it-
1. MPhil is an academic degree (research oriented). Getting a management job after completing MPhil will be very hard if not impossible.
2. MSc is more general in scope and I know a couple of LSE MSc grads that got the kind of management jobs that would make Harvard MBAs envious.
In the UK, LSE and Cambridge have comparable reputation, but outside the UK, Cambridge is a much bigger brand name than the LSE.
Hope this helps.
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