Masters in Management or MiM is a popular postgraduate degree program for recent graduates or young professionals interested in a management career. This blog post presents a list of some of the top Masters in Management programs in Europe and their key features.
University of St Gallen - MA in Strategy and International Management Location: Switzerland Program Fee: 123,999 Euros Specializations Offered: Multiple, including consultation, entrepreneurship, finance, etc.
HEC Paris - Master in Management Location: France Program Fee: 114,357 Euros Specializations Offered: Not specified
University College Dublin: Smurfit - MSc International Management Location: Ireland Program Fee: 94,517 Euros Specializations Offered: Not specified
London Business School - Masters in Management Location: UK Program Fee: 100,789 Euros Specializations Offered: Not specified
Rotterdam School of Management, Erasmus University - MSc International Management Location: Netherlands Program Fee: 95,875 Euros Specializations Offered: Not specified
Essec Business School - Master in Management Location: France Program Fee: 99,804 Euros Specializations Offered: Not specified
ESCP Business School - ESCP Master in Management Location: France Program Fee: 89,003 Euros Specializations Offered: Not specified
Stockholm School of Economics - Master Program in International Business Location: Sweden Program Fee: 92,452 Euros Specializations Offered: Not specified
Edhec Business School - Edhec Master in Management Location: France Program Fee: 87,496 Euros Specializations Offered: Not specified
Imperial College Business School - MSc International Management Location: UK Program Fee: 84,080 Euros Specializations Offered: Not specified
Global 3: McIntire/Lingnan/EsadeGlobal3 - Masters in Management Location: US/China/Spain Program Fee: 90,755 Euros Specializations Offered: Not specified
ESMT Berlin - Master in Management Location: Germany Program Fee: 29,500 Euros Living Cost: Approx 1,000 Euros Per Month Duration of Course: 24 months Application Rounds: Round 1: March 31, Round 2: June 1, Final Round: August 15 Eligibility for Work Experience: None (Max Work ex is 18 months) Eligibility for minimum education: A previous degree (at least Bachelor's equivalent). Applications will also be accepted from final-year undergraduate students awaiting completion of their degree Test scores: GRE/GMAT, TOEFL/PTE/IELTS Class Size: 119 Average Age: 23 Specializations Offered: Quantitative Business, Innovative Management
IE Business School - Master in Management Location: Spain Program Fee: 39,700 Euros Duration of Course: 12 months Eligibility of minimum qualification: Bachelor degree from an accredited university Test Scores: GRE/GMAT/IEGAT, TOEFL/IELTS/Cambridge/Duolingo GMAT Range: 650-770 Average Age: 23 Specializations Offered: Digital Business, Entrepreneurship and Innovation, Finance, International Business, Sales & Marketing, Strategic Management, Business Analytics
Prague University of Economics and Business - International Master in Management Location: Czech Republic Program Fee: 75,038 Euros Duration of Course: 24 months
What is the difference between MBA and MiM?
The key difference between MBA and MiM programmes is that the former is typically for individuals with a few years of work experience, while the latter is a start for students with little to no work experience and who are recent graduates, while both programmes cover a wide range of syllabus and general business principles. Not sure which course you are eligible for? Connect with our admission consultant to discuss your profile.
Criteria and Application Process
Business schools have a set of criteria for the admission procedure into the MiM program, below is a list of all the checkpoints to look after before applying for it:
An Undergraduate Degree is Mandate
To achieve a seat in the MiM course, the individual has to obtain an undergraduate degree from a recognized university. In some cases, a diploma is also accepted. One must also check whether the institute you are applying for, requires applicants to have studied a particular subject at graduation level. However, Masters in Management Programs are generally open to all individuals with different academic backgrounds.
Professional Experience
Though work experience is not compulsory for MiM courses, some B-schools may ask for one, say a little work experience of two years or less.
Need for GMAT or GRE Scores
To apply for a Masters in Management Programs, some universities require candidates to take the GMAT or GRE tests or they may even require your IELTS scores. There are no guidelines on the scores. Some of the schools keep a score of 500, while others keep a score of around 600-800.
Mostly schools expect at least 600 points on the GMAT score, with a good score of 650 is expected to qualify for a Merit-Based stipend . A GMAT score below 600 does not imply that you won't be accepted, you may need to highlight other assets, such as your high grades in the undergraduate degree, or eminent extracurricular achievements.
Reference Letters
You would certainly need to submit letters of recommendation or references to qualify for the Masters in Management programs. Depending on the programs you're applying to, you may have to send two or three different letters. Often business schools have specifications for who will write the letters, you will have to send two letters, one from a former professor and one from a non-family member who knows you.
Benefits of MiM
Masters in Management program can be beneficial to boost your career in numerous ways, some of these are:
Internationally Acclaimed
For the past few years, MiM has gained a lot of popularity globally, from Europe, Australia to Canada, and Asia. The growing popularity is also reinforced by the fact that the majority of MIM courses have been developed to attract an international student audience.
Obtain a Masters with No to Little Work Experience
One of the key benefits of a master's degree in management is that it provides the ability to develop your business skills immediately after your bachelor's degree. Traditional degrees like an MBA require a significant degree of initial work experience, typically between 2 to 5 years, whereas MIMs have no requirements for work experience or might expect a maximum of one year in the previous job.
Expand your Managerial Skills
A MIM degree will primarily allow you to develop outstanding interpersonal human behaviour, solve problems quickly and you will be able to apply management theory in the business world. You can know how clearly an organisation deals with the social and economical world and can handle the problems of global affairs.
Affordable and Highly paid program
Masters in Management Programs are typically inexpensive than most of the major business courses. Depending on the popularity of the university, your specialization and the location, the annual MiM study fee may vary between 3,000 to 40,000 Euro.
Pay Scales of MiM passouts are quite higher than other simple management graduates.
MiM holders' salaries in countries like the US are about $61 thousand for those with less than one year's experience and around $68 thousand with 4 to 9 years of experience.
Top International Colleges offering Masters in Management
Below is the list of the top institutes offering MiM, choose wisely :
HEC, Paris
London Business School
ESSEC, France
ESADE, Spain
Imperial College London
IE Business School
London School of Economics
CEMS
University of Copenhagen, Denmark
ESCP Europe Business School
Masters in Management programs are offered by the best college for MBA in world for aspirants who have lesser work experience. The MiM program offers the graduates a strong base of management concepts and prepares them to pursue management careers on completion. If you are a young aspirant looking at a cutting edge program which prepares you for the business world from a lead ranking school you can choose the best college for MBA in world for reaching your aspirations. Share your resume, GMAT or GRE scores and grades to discuss with our admission consultant.
Master in Management ( MiM ) Programs in Europe
INSEAD Master in Management ( MiM) :
INSEAD is by far the best college for MBA in world and it offers a Master in Management ( MiM ) program with a duration of 14-16 months, for professionals with 0-2 years of work experience, average age of 22 at multiple campuses - Fontainebleau and Singapore (with optional study trips to Abu Dhabi, China and the USA)
HEC Master in Management ( MiM ) :
HEC is the best college for MBA in world from the point of view popularity and it offers the HEC Master in Management /Grande Ecole Program ( MiM ) for high potential applicants with little or no work experience. The HEC Master in Management ( MiM ) program allows an optional gap year for graduates to add professional work experience.
IE Master in Management ( MiM ) :
IE offers the Master in Management ( MiM ) program at its campus in Madrid for a duration of 10 months offering 5 different tracks and more than 50 free electives.
London Business School Master in Management ( MiM ) :
London Business School also falls under the top ranked best college for MBA in world. It offers the Master in Management ( MiM ) which is a 12-16 month program at its campus in London for applicants with 0-2 years of experience.
Some Master in Management ( MiM Programs ) in the US:
Duke Fuqua Master in Management ( MiM ):
Duke Fuqua Offers a 10 month Master of Management Studies - Foundations of Business program which also qualifies under the STEM designation giving international students who meet certain requirements 2 years longer to work in the US.
Duke Fuqua offers two Master of Management Studies degrees—MMS: Foundations of Business and MMS: Duke Kunshan University.
Kellogg School of Management at Northwestern University:
Another in the list of the best college for MBA in world - MMM at Kellogg School of Management is a dual degree program. MMM graduates receive an MBA from Kellogg and an M.S. in Design Innovation from the Segal Design Institute at the McCormick School of Engineering and Applied Science.
University of Michigan’s Ross School of Business Master in Management ( MiM) :
One more from the top ranked best college for MBA in world - Michigan Ross Master of Management program is a 10-month intensive degree program for recent college graduates with 0-2 years work experience.
Contact an admission consultant at Goalisb for the Masters in management programs you are eligible for and get school recommendation and application assistance.
There are Various MBA Courses That Do Not Require Work Experience
Most MBA aspirants are aware of the significance of having prior professional work experience to gain admissions in top business schools across the globe. It is evident that entering into an MBA program after some amount of corporate experience makes it easier for a student to grasp the essence of the business management studies. However, there are various MBA courses that offer admissions to domestic as well as international applicants without any prior work experience. This makes it possible for young undergraduate degree holders to kick start their business administration studies fresh out of college.
Countries Offering MBA Opportunities Without Prior Industry Experience
After contemplating the pros and cons of an MBA without work experience one can begin looking for MBA courses with no minimum work experience requirement. Many countries all around the world offer opportunities for MBA aspirants to begin their MBA journeys without any prior industry experience. Some of these countries and corresponding business schools are mentioned below in this article.
United Kingdom
There are various universities and business schools in the United Kingdom that offer general MBA programs without work experience. Some of these universities include the following:
University of Northampton
South Wales University
University of Greenwich
University of West London
University of Derby
Central Lancashire University
Cardiff University, and more
Instead of the usual minimum work-experience requirement of between 2 to 3 years in most B-Schools in the UK, these universities accept fresh graduates for MBA programs as well. The courses tend to be one year long and provide a lot of exposure for students to build a network and land good jobs.
Students with some work involvement like internships during undergraduate studies might also find these MBA courses helpful. The program fee varies from university to university between the range of $13,000 to $53,000 for the full program.
Germany
In most European countries like Germany, there are various management courses available for students apart from general MBA courses. Students aspiring to become a part of the management realm can enroll in courses like MBA, Masters in Management (MiM), or MSc in Management in some of the top-ranking business schools. These B-Schools in Germany that offer admission to management courses without work experience include:
Technical University of Munich
Ludwig Maxmilians University of Munich
University of Tubingen
University of Ulm
University of Kiel
University of Stuttgart
The University of Bremen, and many more.
Among these universities, some require students to have a four years bachelor’s degree or three years of bachelor's followed by a one-year postgraduate degree. The most interesting thing about studying in Germany is that public universities do not charge tuition fees even from international students. Therefore, one just needs to pay the semester fee in the range of $250 to $500 and also cover their living expenses and cost of books and study material.
Sweden
In Sweden, students can apply for the Masters in International Business (MIB) or Masters in Business and Management (MBM) courses. These are two-year degree programs offered by the Stockholm School of Economics, Sweden. Moreover, these are taught in English and do not require mandatory work experience for applicants to be eligible. Students with knowledge of another foreign language as well as proof of proficiency in the English language stand a better chance of getting accepted into the MIB or MBM programs at the university. The fee for the course is around $15,000.
These courses are competent with some of the best MBA courses offered by top-ranking business schools across the world. Alumni students of these courses tend to secure job placement in various fields with high salary packages.
Canada
Canada is counted among the most sought-after higher education study destination by students from different corners of the world. This is applicable even for MBA aspirants who wish to pursue their management studies without any prior work experience. Many business schools and universities in Canada offer admissions in MBA programs to outstanding academic performers even without work experience. Some of these institutions include the following:
Rotman School of Management, University of Toronto
Lazaridis School of Business and Economics in Toronto
Thompson University
University of Cape Breton
Schulich School of Business, York University in Toronto
Their application requirements are common to any other MBA program specifications like GMAT/GRE scores, English proficiency for an international student, and undergraduate degree proof. The program fees for an MBA in Canada have an average of $21,000.
Australia
MBA without work experience is less common in Australia where usually business schools require an applicant to have at least 2 to 3 years of work experience. However, the following schools offer admissions to MBA applicants without any stringent work experience requirement for eligibility:
The University of Tasmania with a course fee of $46,000.
RMIT University, Melbourne having a course fee of $30,000.
The students must possess an undergraduate degree from a recognized higher education institution which is equivalent to a degree from any Australian institution or university.
Final Thoughts
In conclusion, there are numerous opportunities for students to pursue their aspirations to acquire an MBA degree without having any prior work experience. However, it is often observed that students who have some level of experience in the corporate world find it easier to become acquainted with the managerial and business concepts that make up the entire MBA coursework. Yet it is not impossible for someone with an excellent academic record to land an admission in an MBA program of some of the best business schools in different parts of the world. The key lies in creating a resume that can catch the eyes of an admissions committee.