Masters in Management (MIM) Abroad

Initially, Master in Management was taught only in European countries, but now it has spread globally. Not only that, MIM has also secured its place in most top business schools. But what is the reason for its popularity?

A compelling reason lies in the high employment rates among MIM graduates. According to a report published by the London School of Economics, 94% of MIM graduates secure job offers within three months of graduation, a significant advantage compared to other postgraduate programs.

MIM graduates from a top university can expect to earn an average yearly salary of INR 71.9 lakh. That's not all! A MIM degree opens doors to a world of opportunities. Employers all over the globe are eager to hire graduates from top MIM programs, so you'll have plenty of choices when it comes to building your career.

However, securing an admit to a top university for MIM programs can be difficult. These universities usually have strict competition and tricky application processes. But don't let that stop you from getting your dream education. Yocket is here to help you make it happen.

Yocket's experts have over 13 years of experience, and they will work with you 1:1 to turn your application process into an offer letter. Book a FREE consultation call, and streamline your application to a top MIM Program in 2024! 

In this article, we will discuss information, which will help you create a sound plan for starting your MIM abroad journey and getting into one. Starting from course structure, eligibility, top universities, scholarships, and more - we have got everything covered.

Why Study Master’s of Management (MIM) Abroad?

If you are looking for a master’s in management abroad you will have the chance to fully immerse yourself in a different culture if you move abroad for a university degree. There are several possibilities for pursuing a postgraduate degree in management schools and institutions globally. Here are some of the primary reasons why international students should pursue a master’s in management abroad.

1. Various Specialisations

Students who choose the MS in Management program overseas study a diverse range of subjects. Marketing, finance, entrepreneurship, consulting, and other relevant topics are covered in the course, which gives them a holistic view of business operations.

2. Top-Rated Colleges

Most of the prestigious and famous universities provide the best MIM programs. HEC Paris, ESADE-Spain, and other institutions offer top MS in management programs for overseas students.

3. Professional Qualification

Management is a multifaceted discipline with origins in several professional fields, including business, advertising, healthcare, media, and many more. Students who pursue an advanced degree in MIM will be able to obtain the professional knowledge that they want.

4. Career Opportunities

Students who have finished their master's in management usually receive several high-paying job opportunities. Graduates can obtain work in the finest businesses and organizations. On the completion of their degree, students get hired for some of the highest-paying jobs in the sector, such as:

• Risk Manager
• Financial Risk Analyst
• Social Media Manager
• Investment Analyst

Suggested: MIS vs MEM vs MIM vs MBA

Students applying for an MIM should have a clear understanding of the course. In this section, we will provide some significant components of the program, including the duration of the course, core courses, and other required details.

Course Duration

The MIM course duration is around 1.5- 2 years, in which students learn how to utilize data and data-driven decisions in business and management. The MIM program comprises technical studies relevant to IT administration as well as those connected to traditional management.

Core Courses

The MIM course focuses on the academic aspects of management skills, while the MBA focuses on the functional. The MBA course curriculum is designed to provide students with in-depth knowledge of how organizations operate. These are some core courses that are a part of the curriculum for masters in management abroad:

• Strategic management
•  Economics
• Risk analysis
•  Marketing

Suggested: 5 Best Countries to Study MS Abroad

The Master in Management is a 1.5 - 2-year degree program, beginning with the initial phase laying a strong groundwork for management sciences and allied concepts like statistical methods, analytical skills, etc. Some Master in Management programs are listed below:

• Accounting
• Commercial Law
• Corporate Public Relations
• Finance for Corporations
• Economics
• Entrepreneurship
• Making Ethical Decisions
• Human Resource Administration
• Technology of information

Suggested: Top Reasons to Study Abroad

The MIM course is available in a variety of specialties in different countries. Some of the specialties offered by top universities are as follows:

• International Trade
• Sustainability
• Marketing Creativity Management
• Quantitative Finance
• Business Advisory

Suggested: MIM Vs MBA

Top MIM Universities Abroad

With an abundance of colleges offering MIM programs abroad, choosing the right one can be a bewildering experience. To help you make an informed decision, we've compiled a list of the top 10 MIM programs, each offering a unique blend of academic excellence, global exposure, and career opportunities.

Universities	QS Business Master’s Rankings 2023	Annual Tuition Fees (INR)
HEC Paris	1	INR 47,33,000
ESSEC Business School	2	INR 40,93,000
London Business School	3	INR 39,95,000
IE Business School	4	INR 38,50,000
ESADE Spain	6	INR 31,14,000
ESCP Business school	8	IN 22,95,000
University of Bocconi	11	INR 14,32,000
Emlyon Business School	12	INR 11,56,000
Imperial College Business School	14	INR 36,48,000
London School of Economics	16	INR 21,50,000

Finding the perfect university for MIM, that suits your profile might be a struggle. Which country to choose, which intake, what are the eligibility criteria?! Agh, such a struggle! 

This is why we’ve created an AI-powered tool, that suggests the best university for you in a few clicks. Don’t believe it? See for yourself - explore Yocket’s College Finder tool!

Average Fees for MIM Abroad

Master in Management (MIM) programs originated in Europe and have since gained popularity worldwide, including in Australia and North America. However, average tuition fees for MIM programs vary widely depending on factors such as country, institution, program duration, and specific specializations.

Here's a general overview of MIM tuition fees across different regions:

Country	Average Fees per year
United Kingdom	INR 13,32,000 - INR 37,56,000
France	INR 8,74,000 - INR 24,90,000
Italy	INR 80,000 - INR 17,60,000
Germany	INR 9,78,000 - INR 15,11,000
United States	INR 32,18,900

Masters in Management (MIM) Abroad: Cost of Studying

Different nations that provide opportunities for education to international students have various costs that the student must incur. Before deciding on a location and a degree, you should be aware of the costs that you may incur throughout your academic experience. The total cost of study overseas may be split into two categories: program fees and living expenditures.

Course Fees

Tuition fees at the top MIM colleges in the world range between INR 12,00,000 to INR 20,00,000 for one year. The cost of pursuing the course will be determined by the country and academic establishment chosen.

Cost of Living

Aside from program fees, there are additional costs to consider when studying abroad. These expenditures would include expenses for lodging, meals, transportation, and so forth. Individual living costs vary based on the country visited. For example, in the UK, the estimated yearly living expense is approximately INR 7,09,655 - INR 11,09,483.

Universities and institutions that accept student enrolment have particular requirements regarding personal and professional qualities. So, here are some talents that could also help you enroll in a MIM course overseas-

1. Quantitative Skills

Statistical data is heavily reliant on fundamental and theoretical quantitative principles. As an analytics learner, you will employ various quantitative tools and concepts to generate a wide range of answers. As a result, being a knowledgeable specialist in mathematics might be useful at that time.

2. Technological Knowledge

Computer science, analysis, and computers are all critical components of the analytical field. Students need to acquire many technical skills and talents to apply their knowledge and experience effectively.

3. Communication Capabilities

As a management student, you will be expected to effectively convey your thoughts and ideas to other professionals in the area. This is when your excellent communication abilities might come in handy and help you get your point through to the group.

Suggested: Is MIM Better than MBA?

Students seeking enrolment in one of the best universities for MIM abroad must be familiar with the qualifying requirements as well as the papers required for the college admissions process. In this section, we will discuss the qualifying criteria as well as the admission requirements for the top MIM colleges in the world.

• Bachelor’s Degree Certificate
• English Language Requirements
• GRE/GMAT Scores
• Work Experience
• Passport and Visa

Let us go through these criteria in depth:

Bachelor’s Degree Certificate

Students interested in pursuing an MS in management overseas must have a bachelor's degree from a relevant field. Students with a minimum grade of 60% will be eligible for institutions overseas.

English Language Test Scores

To be qualified for the courses, overseas students must additionally present their English language competence test results. Students can apply for admission to top schools and institutions overseas by submitting a few scores. PTE scores are also accepted by several colleges.

• IELTS - 7.5
• TOEFL - 90
• PTE - 67

GMAT/GRE Scores

Without a GMAT or GRE score, it’s not possible to enroll in top colleges or universities abroad. Though, the score differs from college to college. The general score requirement is-

• GRE - 300 to 350
• GMAT - 650 or more

Work Experience

Students with 2-3 years of work experience can enroll with top universities abroad. Having work experience can help in understanding the management concept clearly.

Passport and Visa

Along with their application, students must give information on their passports and student visas. As a result, applying for a student visa far in advance of the date of the trip is required.

Suggested: How to Study Abroad for Free?

Masters in Management (MIM) Abroad: Required Documents 

Some additional documents are required for applying to the top universities abroad. Students will have to submit these documents along with their application to the best MIM programs in the world.

• Translated reports and transcripts from previously attended institutions
• Standardized test scorecards
• English Language Test reports
• Statement of Purpose
• Letters of Recommendation
• Proof of finances
• Updated Resume/CV
• Copy of Passport and Visa
• Study Permit
• Passport Size Photographs

Masters in Management (MIM) Abroad: Admission Process 

Here we will discuss some crucial steps that students need to follow to get admission into the best MIM programs in the world.

• To begin, students must decide on a course offered by the university.
• Conduct thorough research on the institution or college by visiting the official website and gathering information on course structure and content.
• Upload digital copies of all necessary papers, such as high school diplomas, exam scores, financial evidence, letters of recommendation, and so forth.
• Pay the registration cost and submit it via the website.
• After your application is reviewed, you may be invited to an interview with members of the university's board of directors.
• If you pass the screening, you will be given an acceptance letter and will be able to pick your seat at the university.
• After you have paid your program costs for the year, you can start your course.

Important Resources to Read About Abroad
Best Countries to Study Abroad	Deferred MBA Programs	Returns Of Doing Masters Abroad
Exams to Study Abroad	US vs UK for Masters	Why Study Masters (MS) in USA?

Many colleges and universities provide a variety of master's in management scholarships for overseas students who want to pursue MS management programs in other countries. We've included some information regarding these master's in management scholarships, such as qualifying requirements and advantages.

MIM Merit scholarship at London Business School-UK

Students wanting to pursue a MIM course in UK universities can apply for this scholarship to cover the fees. It is a merit-based scholarship granted to students who have demonstrated exceptional personal or educational success.

Scholarship Eligibility Criteria:

• International Students must submit good academic results.
• They should fulfill the visa procedure and will have to undergo some tests.
• Amount- Multiple rewards of approximately INR 7,25,264 are available.

HEC Foundation Excellence Scholarships-France

This scholarship is for international students who are looking forward to pursuing a master's in management in France. Students who have excelled in their academics are eligible for this scholarship.

Scholarship Eligibility Criteria:

• Academic strength and overall excellence.
• Students must pass the interview.
• Amount- Allowance of INR 95,254

The Eiffel Excellence Scholarship-France

This scholarship is designed to offer proper financial support to academically superior students. This merit-based scholarship is offered to international students who are pursuing master’s courses.

Scholarship Eligibility Criteria:

• International students under the age of 30 years can be considered eligible for the scholarship.
•  Students have to be enrolled in an eligible MIM course and meet all the requirements for the scholarship to be eligible.
• Amount- INR 1,11,884 per month

Suggested: Get a Scholarship to Study Abroad?

MIM course is a professional program that provides graduates with a wide range of abilities. There are several job options for students enrolled to pursue a successful career. Among the most common career options are mentioned below:

Job Titles	Average Salary Per Year
Risk Manager	USD 60000 (INR 47,94,870)
Financial Risk Analyst	USD 85000 ( INR 67,92,732)
Social Media Manager	USD 11,5000 (INR 91,92,369)
Investment Analyst	USD 88000 (INR 70,34161)
Management Consultants	USD 60000 (INR 47,95683)

Suggested:Jobs after MIM for International Students

As you can see, we have covered all major aspects of the MIM abroad course to help you with right information and to go ahead with admission. If you are looking forward to more information on universities, visa related, admission process or any other area, connect with Yocket Professionals. We have 95% of Visa success rate and helped students to pursue the course in their choice of country.

Q. Why should I study MIM abroad?

A. MIM is common in European countries, but it is recognized everywhere. It provides students with additional theoretical exposure as well as many internship chances. As a result, it also qualifies a student for a career.

Q. What is the total program duration?

A. Most MIM programs have shorter course durations than MBA programs. The vast number of MIM programs are just one or two years long.

Q. Can we apply for scholarships for MIM study abroad?

A. Yes, you can apply for the scholarship to pursue the MIM course abroad. However, you need to fulfill the eligibility criteria set by the university to get the scholarship.

Q. Is job experience required for MIM enrolment?

A. Students having one year of employment may also apply. This is a significant benefit for students seeking a career in management or business-related disciplines since students require little or no job experience to be admitted to an MIM program.

Q. Which are the best countries to pursue MIM?

A. The MIM program is well-known in:

• France
• UK
• USA
• Italy
• Spain