A Masters in Management (MIM) degree which was initially offered only in Europe, has now gained popularity worldwide. What is the reason, you might wonder?
It is a one- to two-year program that includes graduate-level business management education. A degree in MIM from abroad provides access to a wealth of opportunities, with graduates earning an average salary of USD 88,000 or INR 73,39,700 per year! Moreover, in comparison to other postgraduate programs, 94% of MIM graduates get employment offers within three months of graduation, according to research published by the London School of Economics.
However, securing admission to top business schools offering MIM degrees is quite difficult. Primarily because of the competitive acceptance rates and high tuition fees. For example, HEC Paris has an acceptance rate of only 8%, and the tuition fee at the Russell Groups Imperial College London for MIM is approximately GBP 41,000 / INR 42,62,120. Nevertheless, don't let these figures discourage you, because Yocket Premium services are here to assist you from start to finish. With its AI-based tools covering university shortlisting, finding loans, and premium counselling services, you can secure admission at the top B-schools and other universities worldwide!
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Why Study MIM Abroad?
There are several compelling reasons why you should consider pursuing an MIM degree abroad. Here are some of them:
- Global Perspective and Diverse Education: Studying overseas not only exposes you to a new culture but also to an international business environment. Being aware of varied customs, languages, and ways of life can improve your flexibility. Connecting with students from varied backgrounds and engaging in intercultural communication can help you develop a global perspective, which is highly sought after by employers.
- Access to Top-Tier Universities and Varied Specialisations: MIM programs are recognized and offered by numerous esteemed universities abroad. Moreover, with the help of the specialisation options these programs offer, you can concentrate on subjects that you wish to excel in like finance, marketing, or innovation management.
- Career Prospects and Robust Return on Investment: MIM courses abroad are intended to be career-focused. They do not believe in academics but rather integrate internships and hands-on learning opportunities. This can assist you in bridging the knowledge gap between academic theory and real-world business operations. For graduates, this may result in high employment rates and competitive starting incomes. Some employers that hire the most MIM graduates include Apple, Microsoft, Deloitte, Google, Amazon, and McKinsey.
- Acquire In-Demand Skills: The main goals of MIM programs at universities abroad are to help students develop crucial management abilities such as data analysis, leadership, and critical thinking. These are transferable talents that can lead to a multitude of fruitful job opportunities.
Suggested: Is MIM Worth It?
Top Countries to Study MIM Abroad
When considering which countries to pursue an MIM degree from, you must be mindful of the tuition costs, curriculum structure, specialisations, and opportunities post-graduation. Given below are details regarding three of the top-most countries to consider when opting to study MIM abroad:
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MIM in UK
When thinking about pursuing a degree in Masters in Management abroad, Europe is the first place that any international student must consider. MIM primarily originated in the UK, and Europe has ever since been the hub of this program. You can study at some of the most prestigious universities in UK which maintain their high rankings in the QS World Rankings, THE World Rankings, Financial Times Rankings, etc.
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MIM in France
Studying MIM (Master in Management) in France is appealing because of its prestigious universities, vibrant culture, and emphasis on innovation. Choosing to pursue this degree in France is a wise choice for anyone looking for a thorough and internationally accredited business management education.
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MIM in Germany
Another nation where international students can opt to pursue their MIM degree is Germany. All students can enrol in flexible and reasonably priced MIM programs at German institutions. Moreover, the course structure has been devised to facilitate the development of practical experience, which can lead to favourable job options in Germany and globally.
Suggested: Guide on MIM in the USA.
Global Universities Offering the Best MIM Programs
To help you narrow down your choices for pursuing an MIM abroad, we have compiled the best universities offering the the best MIM programs globally, based on Financial Times Rankings 2023. Take a look at the table below!
|
Best MIM Programs in the World |
Financial Times Rankings 2023 |
Location |
|---|---|---|
|
HEC Paris |
1 |
France |
|
University of St Gallen |
2 |
Switzerland |
|
London Business School |
3 |
UK |
|
ESCP Business School |
4 |
France |
|
Essec Business School |
5 |
France |
You must shortlist and apply to universities after thoroughly checking the course structure, tuition fees, availability of scholarships, and the university’s requirements. Glance through the table below to familiarise yourself with the top 10 business schools worldwide offering MIM courses.
|
University |
Course |
|---|---|
|
MSc Strategic Management |
|
|
MSc in Strategy & Management of International Business |
|
|
MSc in International Management |
|
|
Master in Management |
|
|
MSc in Management |
|
|
Masters in Management |
|
|
MSc Management and Strategy |
|
|
Master in Management |
|
|
Master in International Management |
|
|
CEMS |
Master in International Management |
Are you overwhelmed with the array of university choices? If yes, utilize Yocket College Finder to simplify the path to higher education. With a vast database of universities, personalized matching, and a user-friendly interface, streamline your college search abroad!
Tuition Fees for MIM Abroad
The tuition fees for MIM programs vary country-wise and from university to university. The average tuition fee for MIM ranges from USD 24,000 - 1,40,579 / INR 19,96,990 - 1,16,97,200. To reduce the burden of the overall costs including tuition and living expenses, you must find scholarships at your university and home country. Indian students can avail the benefits of the TATA merit-based scholarships that fund their postgraduate studies in varied countries like the USA and the UK.
Provided below is a snapshot of the tuition fees for MIM programs in some popular countries.
|
Country |
Average Tuition Fees for MIM |
|---|---|
|
United States |
USD 30,000 - 60,000 / INR 25,01,540 - 50,03,080 |
|
United Kingdom |
GBP 15,000 - 30,000 / INR 15,50,690 - 31,01,370 |
|
Canada |
CAD 29,464 / INR 17,87,000 |
|
Australia |
AUD 20,000 - 45,000 / INR 10,70,650 - 24,08,960 |
|
Singapore |
SGD 36,852 / INR 22,57,000 |
|
Europe |
In countries like Germany and France where the tuition fees are subsidised in the public universities, there might not be little to no tuition fees. |
Eligibility Criteria for MIM Abroad
International students must fulfil the following prerequisites when applying for an MIM degree abroad.
- Formal schooling of 10+2 from a recognized institution with a minimum CGPA of 2.75 to 3.0 on a 4.0 scale.
- A bachelor's degree from a relevant field with at least 60%.
- A good score in English-language proficiency tests such as IELTS of minimum 6.5, TOEFL of minimum 95 score or PTE certificate.
- A valid GRE score of about 310 to 316 and an average GMAT score is 610 as per the university requirement.
- Letters of Recommendation.
- Work experience of 1-2 years.
Note that the particular requirements regarding the number of LORs, scores, and experience might vary university-wise. Always check on the university's websites!
From the Desk of Yocket
With an array of job prospects in finance, management, and entrepreneurial roles, pursuing a MIM degree is an excellent choice. MIM programs are becoming popular worldwide as an alternative to MBAs, especially for individuals with little to no work experience in the field. Indian students can gain wide exposure while pursuing MIM abroad. Not only do the universities offer networking opportunities with alumni and employers but also offer internships and placements. All these factors can help you secure good positions post-graduation, translating into high ROIs and stability in the future.
With several esteemed universities offering a MIM degree abroad, it is fine to be unsure about which one to select. There, is where you can get assistance from our Yocket experts. Not only will they help you in shortlisting universities based on your academic and extracurricular profile, but also guide you throughout the university and visa application process. So, what are you waiting for?
