A Masters in Management (MIM) programme focuses on marketing, accounting, or finance and lasts one or two years. In Europe, MIM is known as MSc in Management. The MIM, or Master of Science in Management, is aimed at those who are just starting out in their careers or have limited job experience. The MIM and the MSc in Management are the same things. Master’s in Management (MiM) degrees are becoming more popular, but they are not cheap. MiM programs at top-ranked schools often cost between $35,000 and $50,000, which is comparable to the cost of a one-year MBA at several business schools. A MiM is a substantial investment, but the good news is that you can recoup your costs and more after graduation!
Why MiM?
Let’s have a quick look at the advantages of pursuing a MiM degree:
- Master’s degrees in management are geared toward a global audience.
- Gather information from business leaders all over the world.
- At the time of admission, little or no work experience is necessary.
- Get a diverse learning experience.
- Develop a comprehensive range of management abilities.
Salary Expectation
The average ‘weighted pay’ (average salaries three years after graduation) for graduates of the top 20 MiM schools is $93,529, according to the current Financial Times rankings. MiM graduates report a 21 percent to a huge 109 percent rise in their wages across the board. Graduates of the University of St Gallen, with an average weighted salary of $123,999, are the highest-earning MiM alumni from a European school as of 2021.
Graduates of Germany’s WHU Otto Beisheim School Of Management earn an average of $116,100 per year. After three years at HEC Paris, graduates earn an average salary of $114,357. Graduates of ESSEC, Esade, and London Business Schools earn an average salary of $99,804, $96,122, and $100,789, respectively.
Career Options
The MIM program focuses on improving management fundamentals. Because MIM is such a new field, there are many career opportunities. Students who complete this degree typically obtain entry-level positions such as Management Trainee. Aside from that, they are assigned to the position of Analyst. According to a GMAC Corporate Recruiters Survey, MIM hiring predictions increased to 59 percent from 49 percent. According to the poll, large businesses are more inclined to hire MIM graduates.
Also Read: How to prepare for GMAT exam if you are trying to pursue MIM
Types of Job Profiles
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Manager of Business Development
Working as a business consultant could be a good fit for you if you have experience managing firms and understand many parts of finance, marketing, business, and management. They are in charge of increasing the company’s revenue by bringing in new clients. Their analytical and communication abilities come in helpful in their employment and in keeping excellent client relationships.
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Manager of Digital and Social Media
This is a crucial area for any firm these days, as it is one of the most important areas for marketing and communication. This profession entails a great deal of responsibility, as you are the public face of your company. You should also have the skills to use various social media platforms to their full capacity and have a creative mentality in order to implement social media campaigns. You’ll need a keen eye when it comes to designing a digital media marketing strategy. You must also have a solid understanding of various tools, such as Google Analytics and other tools, in order to build relevant techniques.
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Manager of the project
Project managers can work in several fields and industries, including healthcare, marketing, infrastructure, and information technology. They are in charge of completing the work in a timely manner. They must be able to operate under pressure and intense situations, as well as effectively manage a team. Their organizational and communication abilities come in handy in this capacity. Aside from that, they must ensure that the projects are done on schedule and within the budget.
Conclusion
There are various advantages to earning a master’s degree in management. For example, as part of the admissions process, you are not required to have years of work experience. Students pursuing a MIM degree get a wealth of leadership and management skills through internships and practical experiences. Hence, an MiM degree in 2022 is the right next step towards your future.
