If you are a recent graduate who wants an intensive program that will fast-track you on your way to being a business leader, a Masters in Management (MiM) may be the option for you. 

While it is a relatively recent option (having emerged in European business schools in the 1980s), it is becoming an increasingly popular way to accelerate careers, especially for those without previous experience in business, as it is generally equivalent to an MBA. 

 

What is an MiM? 

A Masters in Management is a challenging one- or two-year course designed to transition your career towards a business focus, and it’s about half the cost, on average, of an MBA, so an MiM is a good choice for those who lack business experience and/or are on a budget. 

Because MiM programs do not typically require previous management experience, student populations include a diverse array of backgrounds. 

MiMs usually offer pre-qualification courses to prepare those without analytical backgrounds for topics like accounting and finance. In addition to such introductory topics, you will also be able to tailor the program to your own goals – some programs specialize in accounting, for example, while others are focused on marketing. 

 

How is an MiM different from an MBA?

In a nutshell, the main difference between MiMs and MBAs is that former helps those start a career in business, while the latter helps those with professional experience develop their management career.

MiMs require less professional experience and are designed for those coming directly or one year after finishing their undergraduate degrees, whereas MBA candidates typically benefit from having a few years of previous work experience. For this reason, MiM students are younger, on average, than MBA students, and can expect to start in more entry-level jobs after the program (whereas MBA graduates will often seek more senior-level positions). 

Although there is some degree of overlap between MiM and MBA programs, MiMs are usually more theoretical than practically-minded MBAs, utilizing case studies and analytical modules to develop commercial skills since many students lack business experience.

 

International opportunities

Even though MiMs are challenging, and are shorter-term programs than MBAs, they may offer you a great chance to discover a new location and business culture. 

As the program originated in Europe, some of the best MiMs are located there; however, excellent programs exist all over the world, and most schools offer global immersion experiences as part of these programs. 

Many institutions offer opportunities to study abroad or take part in international projects. For example, ESADE’s 10-month program, located in Barcelona, offers overseas internship opportunities and international study tours, and CEMS, known globally for the quality of its MiM program, allows students to gain global exposure by studying in up to 3 different countries.

 

Requirements for MiM Programs

You will need a bachelor’s degree to be accepted into an MiM program, although most do not require that degree to be business-related. They also usually require applicants to post their GMAT scores, although some programs may not require it. Generally, however, MiM programs consider undergraduate grades as more important.

If you are coming from a non-business background, it will be especially important for you to justify your transition to management and show a clear plan for utilizing the MiM to achieve your goals. Having a solid personal brand will help you stand out, even if your academic record/GMAT score doesn’t!

 

Choosing a program

The MiM is an internationally recognized qualification, so it is a safe bet if you plan on being mobile – just be sure to check its accreditation. Look for approval from AACSB, AMBA, or EQUIS. 

Graduating from a reputed school will improve your career prospects, so be sure to check out the rankings – depending on what criteria you value most, different rankings may be more suited to you (for example, Financial Times’s rankings are most heavily weighted by average alumni salary, whereas QS’s rely more on the program’s reputation amongst employers). 

University of St. Gallen in Switzerland is ranked the top school for its MiM program by multiple ranking systems (Source: www.unisg.ch) 

Do your research to find out which schools offer specific courses or area of focus that you are interested in, have cultures or values that you find important, and/or are located in strategic locations for jumpstarting your own career track. You can also talk to the admissions departments of schools with MiM programs you are interested in, or contact alumni on LinkedIn. 

Ultimately, the program you choose, whether it’s an MBA or MiM, will depend a lot on many factors, such as your previous experience, future career track, budget, and academic objectives, so learning about what is available at different schools is important for choosing what’s best for you!

 

Need more advice on MiM programs? 

Knowing exactly what program is right for you and how to prepare can be a very overwhelming and confusing process. Having support on how your strengths and goals match with certain programs can make all the difference.

That’s what our team is here for – to help you organize your ideas and goals and gain acceptance to the school that matches you perfectly.

Our coaches will get to know you and support you in matching your profile to your ideal graduate program, planning your entire application process, and preparing all materials so that you are accepted at your top-choice school(s). Schedule your free consultation with our team today!