Masters in Management
A Masters in Management is an alternative to an MBA for those who lack working experience, as applicants for MBA programs are required to have at least 3 years working experience or more in order to be considered for admission. Traditionally, an MBA is the more common and the better recognized diploma out of these two, but MiMs are becoming more popular, among applicants and employers alike. The structure of the typical MiM program is very similar to that of a typical MBA program and provides students with a general knowledge in management, making it easier and faster for graduates of the programs to find a management job right after graduation.
These days, most MiM programs are internationally oriented and taught in English, although there are some exceptions to this rule. More practice-oriented MiMs have embedded internships but most MiMs are significantly more theoretical in comparison to MBAs.
Although MiMs are popular among fresh graduates, they are also becoming more popular among mid-career professionals who want to take on management responsibilities in the future or switch to a more management oriented role.
Usage of various names
Not all MiM programs are called Masters in Management programs. Instead, terms such as Masters in International Business, Masters in General Management and Masters in Business and Economics are often used for these programs, just to name a few examples. The reason is that different countries and schools have different traditions for naming their programs, and the curriculum and marketing of the program often plays a part as well. Masters in Management is becoming a more popular name for these types of programs, however, worldwide.
Different types of programs
Just as with MBAs, not all MiMs are structured in the same way. Instead, the programs available can roughly be divided into the following types:
- Distance learning
- Part time
- Full time
Admissions to MiM programs
What the schools are looking for when reviewing applications for their MiM programs is really not that different to what schools look for in applicants for MBA programs, with one important exception: the work experience.
While MiMs are often marketed as degrees where no working experience is necessary, it is definitely a plus to have some work experience at least. Therefore, applicants should always make sure to describe any work experience they have in detail when applying, even if the work experience in question is an internship.
GMAT scores are required for MiM admissions, just like for MBA admissions. A high GMAT score increases the applicant’s chances of admissions, but in most cases, the GMAT scores, even for the top MiM schools are not required to be as high as for most top MBA programs. Applicants should strive for a score of 680 or higher, in order to have reasonable chances of admission to the top MiM programs.
Applicants with a different background are favored as most schools offering MiM programs are looking for diversity. The different background can consist of elements such as nationality, academic background, extracurricular activities, family background and more. The more the applicant stands out from the crowd, the better!
A high CGPA definitely helps applicants, but schools will also keep in mind that getting high grades is significantly more difficult in some schools than in others, something that may console applicants with less than perfect grades in some cases.
Applicants are furthermore generally required to provide both essays and letters of recommendation along with their application.
Top schools for Masters in Management degrees
Financial Times, 2015
|1||University of St. Gallen||Switzerland|
|3||Essec Business School||France|
|5||Rotterdam School of Management, Erasmus University||Netherlands|
|6||London Business School||UK|
|7||ESCP Europe||France, UK, Germany, Spain, Italy|
|10||IE Business School||Spain|
|11||EBS Business School||Germany|
|12||Esade Business School||Spain|
|13||WU (Vienna University of Economics and Business)||Austria|
|14||Mannheim Business School||Germany|
|15||Indian Institute of Management Ahmedabad||India|
|16||Indian Institute of Management Calcutta||India|
|17||HHL Leipzig Graduate School of Management||Germany|
|18||Edhec Business School||France|
|19||Imperial College Business School||UK|
|20||Grenoble Ecole de Management||France|
As many US MiM programs are too new to make it to the global top list of MiM programs, here is a separate list of available MiM programs in the US:
Source: MBA Crystal Ball, 2015