The Master in Management degree in Europe is a unique postgraduate programme designed for recent graduates with little to no work experience in the field. This degree is appropriate for those who wish to transition to management without having to devote a significant amount of time to studying for and waiting for the MBA, as it emphasises entrepreneurship, consulting, marketing, and finance in the curriculum. Let's delve a bit more into this blog to have a more thorough comprehension of this programme.
When a potential student hears about the MiM degree, their first thought is probably, "How come I don't know about it?"
The question is relevant because this degree is still relatively new and is now most popular in Europe. Furthermore, it has just recently begun to spread throughout the United States of America, where the MiM is now offered as an early career advancement degree by several of the best business schools. While ESCP Europe, London Business School, HEC, and other well-known institutions are famous in Europe for MiM, Duke Fuqua, Michigan Ross, and Kellogg are only a few US institutions that offer it.
'The PGDM programme, which is thought to be the MiM's counterpart, is offered by the IIMs in India.
The reason for this degree's lacklustre appeal in South Asia is because it is especially well-known in Europe and is just now spreading to other parts of the world.
Whom is MiM Degree Meant For?
As previously said, the degree is intended for young professionals who want to take that critical step in their careers. People who meet any of the following descriptions could find the MiM classroom to be a refuge:
- Are you trying to make a big move in your current position?
- Are you hoping to learn in a multicultural setting?
- Do you have an interest in management but are put off by your technical background?
- Are you interested in consulting, finance, or marketing?
- Are you weary of holding out for admission to a prestigious MBA programme?
You should take the MiM into consideration right away if we distracted you from the following questions for more than three seconds.
Although many universities remove candidates from this requirement, a valid GMAT or GRE score is necessary for the Master in Management degree in Europe.
What are the Prospects Like?
The question of one's professional possibilities is the most significant one related to any degree in our world. At first, you might believe that an MBA seems more promising than a MiM degree. This is mostly because candidates for MiM and MBA programmes are targeted differently. Whereas MiM is more suited for individuals in the early stages of their careers seeking entry-level positions, Master in Management degree in Europe candidates with five to six years of managerial experience who aspire to C-level positions might consider applying.
What are the Job Prospects After Getting a MiM Degree?
Numerous postgraduate options are available with the Masters in Management. While a small percentage of MiM graduates do not look forward to pursuing a Ph.D., the majority would rather enter the business world. The average graduating income, according to evidence, is around EUR 50,000, which is competitive with any high-paying position. In two to three years, though, where would you find yourself? A MiM degree may lead to a plethora of options in a variety of disciplines, including finance, consulting, marketing, corporate strategy, company development, business intelligence, accounting, sales, and sustainability. Conversely, the MiM may be finished in as little as nine months, depending on the curriculum offered by various schools, but the MBA demands a two-year commitment. Additionally, we have generated additional statistics to provide you with more details. Despite the fact that the MiM is a relatively recent phenomena, there has been a consistent increase in the need for MiM graduates, as the following examples show:
- Across the Middle East and Asia, 75%
- In Europe, 64%
- sixty-three percent in Africa
- 59% in the Americas
- half in North America
- In Australia and the Pacific, 26 percent
What is Included in a MiM Curriculum?
To be clear, graduates from any discipline are welcome to apply to the Master in Management degree in Europe. Applicants can select from a variety of electives offered by many MiM institutions. The areas of finance, marketing, accounting, entrepreneurship, consulting, international business, and strategy are shared by all of them. Furthermore, colleges like ESCP, which have several locations and let students select their area of study on the site of their choice, allow for some very interesting customisation.
Aside from this, excellent exchange programmes enable you to obtain priceless foreign experience. For example, HEC offers 114 collaborations in addition to the CEMS membership, which let you study for one or two semesters at a different university in a different nation.
Given that HR professionals evaluate a candidate's whole personality and global perspective, such experiences may provide you an advantage over other applicants. Additionally, there are certain colleges that mandate that students complete internships throughout their studies. A student can do this by choosing internships during the summer or during one of the schools' permitted gap semesters or gap years. Therefore, there is no additional tutoring required if the MiM programme is extended from two to three or four years.
What is the Return on Investment After the MiM Degree?
Because the typical tuition for the Master in Management degree in Europe is around one-third that of an MBA programme, it is more financially advantageous. It's still a worthwhile investment even if the average pay is around half that of an MBA graduate. As previously mentioned, the average tuition price for a MiM programme is 30,000 EUR for EU students and up to 37,000 EUR for non-EU students. Therefore, the ROI query has been satisfactorily addressed.
Which are the Top Schools for Masters in Management?
The majority of the best universities are restricted to Europe because of how well-liked master's programmes in management are there. As to the 2018 rankings, the top 10 schools for the MiM are listed below:
- TBS Education
- HEC Paris
- The IE Business School
- London School of Management
- Business School at ESSEC
- ESCP Europe
- WHU in Berlin
- Business School ESADE
- CEMS (a collaborative initiative run by thirty international business schools)
- Bocconi University
Even while rankings play a significant role in evaluation, the varied programmes and dual degrees that the various institutions provide set them apart from one another. In these situations, it is impossible to evaluate them side by side, thus the students must select the institution that looks after their requirements.
MiM vs. MS: A Master of Science degree typically requires two years and a full-time commitment. Technology, engineering, medicine, and mathematics are often the core courses of the degree. The defining requirement is still a bachelor's degree; job experience is not required. On the other hand, graduates from all areas are accepted into the one-year or two-year Master in Management degree in Europe programme. With alternatives for exchange, internships, and gap years, MiM offers a more flexible curriculum. The majority of MS programmes need applicants to submit official GMAT/GRE results in order to be admitted.
A little bit more than MiM's tuition (around 42,000 USD) is required for the full programme, which falls between 45,000 and 60,000 USD.
While the MiM programme mostly focuses on business-related courses, with occasional departures in specific situations, the MS programme is fully focused on helping candidates specialise in a particular topic. Here are a few of the fields:
- Science of Computing
- Accounting/Money Management
- Data Structures
- Data Analysis
Is It Easy To Get an Education Loan for MiM?
For students, the process of obtaining an education loan can be time-consuming and difficult. There are several obstacles, however TBS Education may greatly ease your trip. With minimal effort, we can assist you in obtaining an education loan for Master in Management degree in Europe. For the finest prices on education loans for MiM degrees, we have worked with SBI, Bank of Baroda, and other NBFCs. To assist you in obtaining an education loan, our counsellors for student loans are on hand 24/7. Get free, individualised assistance with your MiM education loan by requesting a callback from us.
Can I Get Help in Admissions in a MiM Degree Course?
Through professionals in admission counselling, TBS Education can assist you in gaining admission to a MiM degree programme. We guarantee that, from the start of the admissions process, you will get the greatest assistance available. From the beginning to the finish, our study abroad consultant partner will be there to support you. They will identify colleges that are a good fit for your MiM degree, evaluate your SOPs, and aid you with university applications and visa processing. For excellent guidance on entrance to the MiM degree programme, click this link.
In Conclusion
In and of itself, the master's degree in management is distinctive. While there are some parallels between it and other postgraduate degrees, there are also some distinctive features, such as the emphasis on transitioning to management at an early stage in the career. A master's degree in any profession can be pursued for a variety of reasons, but if you want to enter the management industry early in your career, a MiM is a solid option.
An outline of the Master in Management degree in Europe has been provided here. To get further knowledge and a comprehensive examination of all the issues that applicants should think about before deciding to pursue the degree, see What is Masters in Management.
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