Go back

Do you want a Masters in Management degree?

Katie Schenk - February 11, 2020

MiM salaries and jobs, best MiM degrees and applications

Is a Masters in Management (MiM) degree the one thing standing between you and your future?

Most MiM programmes are designed to prepare recent undergrads to climb the career ladder without the work-experience wait associated with an MBA. They’re also a top choice for newly-minted engineers preparing for leadership roles within their field.

If you’ve been considering a Masters in Management degree, take this chance to learn more about its benefits, top countries and schools of study and what you’ll need to apply. 

Is a Masters in Management worth it?

Will the reward be worth the work?

There’s no one-size-fits-all answer, especially if you’re considering other business masters programmes, like an MBA. As with all study, you’ll also need to weigh up the costs versus salary potential and job satisfaction.  

What’s the difference between an MBA and a Masters in Management?

The biggest differences between MBA and MiM programmes are:

  • MiM students are generally younger, usually between early and mid-20s.

  • MiM students typically have less practical experience, having recently completed their undergrad.

  • MiM programmes are often less expensive, even though they last about as long as European MBAs.

Need a full comparison?

Check out our guide covering MBA, MiM, MiF and MSBA degrees. Take a look at average course costs for top programmes and the content overlap of MiM and MBA degrees.

What kind of jobs can you get with a Masters in Management?

As you might expect, a MiM degree prepares graduates to accept management positions. Seniority levels vary based on the company size and your experience. But, it’s usually a much faster progression through management levels.

Before moving up to the leadership levels of the C-Suite, MiM grads can expect to hold positions such as:

  • Advertising Manager
  • Development Manager
  • General Operations Manager
  • Human Resources Manager
  • Public Relations Manager
  • Sales Manager

Managing Director is also a common step after gathering solid on-the-job experience.

What Masters in Management salary should you expect?

Wouldn’t it be great if you could get a guarantee on your post-MiM salary?

Not even the best Masters in Management programmes can offer such a minimum, even though they’ll jump through every hoop possible to match you with a career you love.

Another difficulty appears when looking at the average salary increases provided on the Financial Times Masters in Management Global Rankings. While the numbers look promising, with reported MiM salary increases ranging from 40% to over 100%, the majority of MiM applicants have little to no previous work experience.

It may be safer to consider average salaries provided by the US Bureau of Labor Statistics for positions commonly occupied by MiM grads. 2018 annual median salaries include:

  • Advertising Manager: $132,620
  • Development Manager: $111,340
  • General Operations Manager: $100,410 (2017)
  • Human Resources Manager: $113,300
  • Public Relations Manager: $114,800
  • Sales Manager: $124,400

If this is your idea of worth it, you might want to dig deeper into MiM schools and begin preparing your applications. 

Is Europe still best for Masters in Management degrees?

Europe has long been the forerunner for top-ranked Masters in Management programmes. In fact, 43 of the top 50 MiM programmes (according to the FT rankings) have a primary or their only campus in Europe.

You’re spoiled for choice if you’re interested in getting a MiM degree in Europe. While the current top-ranked programme resides in Switzerland, at the University of St. Gallen, France claims the title for most schools on the FT MiM ranking. That’s closely followed by Germany and the UK, though there are incredible schools in counties like Poland and Ireland.

Need help finding the right MiM programme for you?

These guides to business school selection will get you on your way.

Applying to MiM programmes

Though there are differences between the MBA and Masters in Management programmes, even at universities that offer both, you’ll find that the application process and deadlines for MIM admissions closely follows suit here.

Generally speaking, that means you’ll need to submit:

  • The required application form,
  • One or more application essays,
  • Recent GMAT or GRE scores,
  • Letters of Reference (or the contact details or your recommenders),
  • Your CV (preferably 1-page),
  • Copies of your undergraduate transcripts,
  • Application fee payment, and
  • Proof of English proficiency (for non-native speakers).

Before you begin studying for the GMAT, through, make sure you check whether scores are needed for your shortlisted programmes. Some schools don't require you to take this exam; lucky you if those programmes fall within your top choices.

Schools with several application rounds or rolling admissions may roll your application over, but you should double-check rather than take the chance.

Once you’ve submitted your applications, begin preparing for the interviews that are often the final step in the admissions process. 

Need help getting your MiM applications together?

Though you’ll want to direct specific questions to the admissions committees at your target schools, these general guides will start you off on the right foot.

Is a Masters in Management right for you?

Prodigy Finance offers no cosigner, collateral-free loans to eligible international students attending supported MiM programmes across the globe. If you're considering a Masters in Management, you might want to consider a Prodigy Finance loan.

Prodigy Finance Ltd is authorised and regulated by the Financial Conduct Authority. 

Related Articles

Mba cost of attendance  coa

Finance 101 for International Students

Jim Hughes - March 25, 2021

New international students are often having to face a lot of “firsts” in life. Moving out of... Continue reading

New scholarship image

Everything you need to know about study abroad scholarships for graduate students

Kavitha from Prodigy Finance - January 20, 2021

Planning to study abroad? A masters degree can be expensive, but scholarships can help you reduce... Continue reading

How to repay your student loan early

Student stories: How I repaid my MBA loan in 3 years

Prodigy Finance Ambassador Vishnu Chundi - October 30, 2020

Vishnu Chundi, co-Founder and CEO at AssetVault, shares his MBA journey and how with good... Continue reading

Vishnu ceoblogpic

B-School: Becoming an entrepreneur while studying an MBA

Prodigy Finance Ambassador Vishnu Chundi - October 20, 2020

Vishnu Chundi, co-Founder and CEO at AssetVault, shares his MBA journey. From starting his own... Continue reading

Follow us

Google play Apple