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MIM or Masters in Management is a premium post-graduate degree meant for individuals who have just graduated or are young professionals.
Why would you do a Masters in management?
To change streams early in life
To have comprehensive knowledge in varied management streams like finance, marketing, consulting, entrepreneurship, etc
What is Masters in Management? Some interesting and prominent aspects:
MIM is majorly a European phenomenon.
the PGDM (Post Graduate Diploma in Management) offered by esteemed IIMs are equal to the MIM degree.
USA versions of MIM are Masters of Science in Management (MSc) or Masters in International Management.
The course period may last between 10 months to two years, depending on the college.
MIM usually offers a comprehensive array of electives, allowing you to tailor your course to follow the subjects you love.
The tuition fee of the MIM program is around ⅓ rd of an MBA program of similar reputation.
The average salary of a MIM graduate is slated to be around 50,000 Euros per year.
MIM postgraduates can pursue Ph.D. programs or glide into career turfs to climb the success ladder.
Job opportunities in varied fields as MIM postgraduates:
Finance
Consulting
Marketing
Business Development
Corporate Strategy
Business Intelligence
Accounting
Sales
Sustainability
Entrepreneurship
Entry-level positions available to MIM graduates are-
Analyst
graduate trainee (eg. entry level management trainee).
Some of the well-known colleges that offer MIM as their flagship degree are :
London Business School
HEC Paris
ESCP Europe
London School Of Economics
Duke Fuqua School of Business
Bocconi School Of Business
MIM is here to stay and will soon be a real force to contend with.
Various Management courses at Master’s level
Masters in Management - MIM
Post Graduate Programme in Management - PGPM
Post Graduate Diploma in Management - PGDM
Masters in Business Administration - MBA
Masters in Management (MIM) and Masters in Business Administration (MBA), Both are postgraduate degrees in general management. How are they different?
A MIM cannot replace an MBA or vice versa
MBA programs require several years of business experience whereas MIM programs are for graduates who have no job experience or even less than a year’s job experience.
The curricula of MBA students comprise learning through case studies and intense study of every student’s work experience - a more practical approach.
MIM students gain insights through classroom teaching (more theory) and case studies only.
The average tuition fee of a MIM student is about ⅓ rd of an MBA program of similar reputation. MBA programs are more expensive than MIM programs.
A MIM graduate’s average salary is around ½ of that of an MBA graduate, making the return on investment (ROI) amazingly attractive.
EU and non-EU students
The average tuition fee of the top MIM programs is generally significantly more for non-EU students (around 37,000 Euro) than for EU students (around 30,000 Euro).
ESSEC Fees:
EU students - 31,000 Euros
Non-EU students - 38,000 Euros
RSM Fees
EU students - 2,976 Euros
non-EU students - 25, 496 Euros
Dual Degree with MIM
The MIM dual degree program gives you the flexibility of completing 2 degrees within the same time frame that would be required to complete one specialization. One would be from the parent business school and the other from its partner university.
The renowned HEC Paris has a total of 15 Dual Degree Programs. Such a course undertaking would set you up on a global platform to unfold professional skills as an outstanding leader in the business world.
Exchange Programs with MIM
Exchange programs are offered by top MIM courses, for example, London Business School (LBS) has 34 exchange partners. This exchange program does not accredit you with one more degree like the dual degree program but enriches your experience in different environments by studying in partner universities, to sharpen expertise skills and enhance personality development. The HR departments of companies assess you not only by the number of degrees you have but also the way you have been chiseled out with your all-around professional and personality development.
The CEMS Masters in International Management (CEMS MIM) Programme is jointly offered by 29 esteemed colleges throughout the world. The 29 colleges award a degree which is identified with each and every one of them.
This highly renowned joint degree is delivered by leading universities, business schools, multinational companies and non-profit organizations fulfilling experiential learning in all possible facets. HEC Paris has a total of 114 partnerships as exchange, dual degrees, and CEMS joint degree.
Internships
Internships are mandatory with MIM programs as they have to shape you professionally and socially apart from academically. This innate part of the MIM degree makes it necessary as this course is more theoretical as compared to MBA.
Academicians can complete their internships either during their vacations or through gap semesters/years. This might extend the 2-year MIM program to maybe 3-4 years. But the good news is that the tuition fees would be charged only for the original 2 years of studies.
The gap semesters/years allow the students to gain clarity and chart out the plan for a lucrative career and growth prospects.
European countries like Berlin in Germany offer start-up opportunities and France is more accepting of English speakers too. The MIM program gives students the flexibility to apply for internships all over the world. The popularity of the MIM program in Europe encourages students to apply for internships within the continent itself.
Top 10 schools offering MIM program are located in Europe, as this program is highly popular here. Rankings for this eminent course are published annually by many reputed journals based on criteria like employment of recent graduates, the weighted average salary of graduates, location of business schools, tuition fee, etc.
Check out the 2017 report for World’s Best Business Schools by leading journal Financial Times:
The University of St.Gallen
HEC Paris
IE Business School
London Business School
ESSEC Business School
ESCP Europe
WHU Beisheim
ESADE Business School
CEMS (CEMS is a joint program hosted by Business Schools of 29 countries)
Universita Bocconiz
A career with MIM degree
Discern the differences between various management programs, particularly between MIM and MBA (Check out the blog Yale grad for reference). The opportunities offered (dual degrees, exchange programs), the way the course is conducted, the array of best business schools throughout the world have been put forth. This would help you to take a call based on your status, your requirements and which direction you are headed towards.
It is clear now, accredited with the MIM degree, you can expect a fast track career path.
Get a realistic assessment of your profile from our integrated team.
The source of reputed colleges that can be aimed for, would be suggested.
A personalized report on how you can improve your profile to increase your chances of admission at top colleges would be provided.
Your questions would be resolved by our student team of MIM consultants.
This would lay the foundation to take the plunge for a bright career.
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