SNMP MIB related information

Hi All,

I am very new to IT and I am working on Solarwinds currently. I have always had this question on mind.

What is the difference between MIB at a managed device and MIB at management station? Are MIB files present on a managed device? I definitely know we have MIB file in solarwinds server(which is a management station).

Can someone clear the air please? Do we have MIB files in both managed node as well as management station? If so, what is the difference? I have gone through few articles and read MIBs are present in managed devices. I  need more details on this. Please help me understand this very clearly.

Thank you all in advance!