MIM: The Ultimate Guide

MIM

If you plan to be a part of the management domain and looking out for options to make a career in the same, then a budding course that can take your career to new heights is Masters in Management. Just like MBA, MIM is also becoming a popular choice among students looking out for excellent job opportunities. It empowers the young generation as agile thinkers, well rounded innovative individuals who are determined to bring a positive change in the business management sector of the society. Studying the program from top business schools around the globe can help you build a strong foundation and give you exposure to the international angle of the management sector. In this blog, we will be decoding the entire course for prospective students.

Must Read: Masters in Management in the USA

What is a MIM Course? 

Masters in Management (MIM) is a postgraduate – level degree program that lasts for a duration of 1 or 2-year depending upon the country and university one plans to join. Like other management degrees, MIM concentrates on Marketing, Finance, Entrepreneurship, Consulting and related fields. Below are the prime factors that can help you understand the benefits of pursuing this degree course:

  • Excellent for those looking for postgraduate courses with a good ROI.
  • Working professionals can upgrade their position at work by opting for higher studies. 
  • Students with a knack for Finance, Marketing and Management realms can opt for MIM courses.
  • Applicants looking for management courses apart from MBA can consider MIM as a great option.
Why Pursue MIM
Why Pursue MIM?

To excel in any area, students must exhibit the kind of skills required to do justice to their profession. Based on this fact, we have curated a list of skills that are necessary for candidates willing to pursue MIM: 

  • Result Oriented Attitude
  • Time Management 
  • Academic Excellence 
  • Leadership Qualities 
  • Excellent Multitasking Skills
  • Teamwork
  • Problem Solving 
  • Analytical Skills
  • Communication Skills
  • Adaptability to Change
  • Hands-on Practical Experience 

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MIM vs MBA: What to Study in 2020?

A Masters in Management (MIM) is becoming a popular replacement for an MBA for a lot of students. While making a choice, one must comprehend the differences between both the degrees. Based on the course structure and curriculum of both the programs, we have formulated some key distinctions in order to understand MBA vs MIM

MBA vs MIM
MBA vs MIM

Professional Experience 

To pursue an MBA course from top universities across the globe, students need to have a few years of professional experience before starting the actual application process. This process is time-consuming, thus, many applicants go for MIM as it can be easily pursued with no to less experience. 

Tuition Fees

The tuition fee to study an MBA degree is much higher than the Masters in Management program giving students an equivalent exposure at an affordable cost of studying. Thus, fresh graduates or working professionals with less than 2 years of experience can choose to pursue MIM abroad.

Curriculum

MIM concentrates on the theoretical side of the management skills, whereas, MBA focuses on the practical aspects. The course curriculum of MBA is designed in a way to provide rigorous training to students on the working of organisations. 

Eligibility Criteria

Candidates should check the prerequisites to study a course before starting their application process. The eligibility criteria to pursue a Masters in Management (MIM) is listed below:

  • Students must have a bachelors degree from a recognized university. Some universities have a minimum GPA requirement, candidates must check that closely. 
  • Candidate should clear the English-language proficiency test such as IELTS, TOEFL or PTE with the required score.
  • A valid GRE or GMAT score as per the university requirement.
  • 2 Letters of Recommendation (LORs)
  • Some universities might ask for a minimum work experience of 2-3 years.

Note: These are general eligibility requirements, any specific or additional details can be checked either on the university website or simply contact the career experts at Leverage Edu to all everything related to the MIM course at the concerned university.

Also Read: London Business School Eligibility for Indian Students

Best Masters in Management Programs

MIM courses are readily available in colleges abroad, however, one has to make sure whether they want to pursue MS, MA or MBA degree in Management. All three degrees fall under the postgraduate studies and provide Management as specialization. Enlisted below are some of the prominent MIM courses that students can choose to pursue:

  • Master of Arts in Strategy and International Management
  • Master of Science in Management
  • MSc in International Management
  • Master’s in International Management 
  • MSc Management
  • Master in Business Economics and Management
  • MSc in Economics & Business Administration – International Business
  • Master of Science in Management-Engineering
  • Masters in General Management
  • Master of Global Management
  • Master of Management – Early Career Masters (MM-ECM)
  • Masters in Business Engineering
  • MSc Supply Chain Management
  • Master of Applied Economic Sciences: Business Economics
  • Master of Science in Economics and Business Administration

Also Read: MBA vs MS

Top Universities to Pursue MIM

To excel in a career and explore great opportunities to work just after completing a Masters in Management, one must study in a reputed educational institute. Choosing a top university will not only frame your career but also give you excellent exposure to advanced techniques and business practices. Considering the importance of colleges in a students life, here are some leading choices for students in the field of management: 

UniversityLocationCourseQS World University Rankings: Masters in Management Rankings 2020
HEC ParisJouy-en-Josas, FranceMSc Strategic Management 1
London School Of Business And FinanceLondon, UKMasters in Management 2
Essec Business SchoolCergy, FranceMSc in Strategy Management & Management of International Business3
ESADEBarcelona, SpainMSc in International Management 4
Imperial College Business SchoolLondon, EnglandMSc in Management5
IE Business SchoolMadrid, SpainMaster in Management 6
London School of EconomicsLondon, United KingdomMSc in Management & Strategy7
CEMSMultiple LocationsMaster in International Management 
ESCP EuropeBerlin, GermanyMaster in Management =9
Copenhagen Business SchoolFrederiksberg, DenmarkMaster in International Management =9
Bocconi UniversityMilan, ItalyMaster of Science in International Management12
WHU Otto Beisheim School of Management Vallendar, Germany
Master of Science in Management 13
EMLYON Business School Lyon, FranceMSc in Management 14
EDHEC Business SchoolLille, FranceMSc in Global & Sustainable Business15
University of St. GallenGallen, SwitzerlandMaster in Business Management 16
Vienna University of Economics and BusinesVienna, AustriaMSc Strategy, Innovation & Management Control17
Erasmus University RotterdamRotterdam, NetherlandsMScBA Masters in Management  18
Ross School of Business, University of MichiganAnn Arbor, MichiganMaster in Management 19
School of Management, Technical University of Munich Munich, Germany Business Administration20

Also Read: MIM in Europe: Courses & Universities

MIM Program Structure

The overall curriculum of the Masters in Management program varies from university to university. Even though there are so many differences among the available options, we can still draw some proximities among all of them. Given below are some core subjects that are a major part of the MIM degree: 

  • Finance 
  • Business Ethics 
  • Corporate and Business Strategy 
  • Economics 
  • Entrepreneurship 
  • Finance
  • Operations Management 
  • Engineering Management 
  • Marketing 
  • Management Theory 
  • Financial Management
  • Managerial Accounting 
  • Human Resources Management 
  • Organizational Behavior
  • Protected Area Management
  • Marketing Management 
  • Management Information Systems
  • Supply Chain Management
  •  Personal student dissertation (Thesis)

Note: Based on the kind of program a student is enrolled in, the coursework may have some additional electives or internship programs. 

Also Read: How to do MBA from Abroad

Is MIM a Good Degree?

A person with a Masters in Management (MIM) has the potential to work in any business house at a managerial position. The degree equips individuals with all that is needed to become a successful professional. Consulting and finance firms take the maximum number of MIM graduates, other big sectors like consumer services, media, hospitality, leisure, food, etc. also recruit MIM degree holders. Candidates can also start a venture of their own, white some students further go into academics by opting for a research project, teaching job or doctoral program in the same domain. Some of the prominent PhD courses can be: 

  • PhD in Business Management 
  • PhD in Management 
  • PhD in Business 
  • PhD in Marketing 

Must Read: All You Need to Know About MIM in Canada

Job Prospects

Like MBA, MIM is also a professional degree that trains students with no fewer skills. There are ample job opportunities for graduate students to make a bright career. Enlisted below are some of the most popular job opportunities:

Job Profile Description
Risk ManagerThe job of a Risk Manager in an organisation is to evaluate the associated uncertainty to a certain event using appropriate tools and skills. These professionals maintain security, safety, profitability and reputation of a company. As the job is challenging and full of responsibilities, candidates get lucrative salaries. 
Social Media ManagerIn this era of digitalization and social media, every organisation ensures to maintain their profiles on various social networking platforms like Facebook, LinkedIn, Google Plus, etc. The role of the Social Media Manager is to keep a tab on what’s going live and to look after all the relatable tasks. 
Project Manager From drafting a project outline to budgeting the cost and later completing the objectives, a Project Manager has to do it all. Every company involved in providing a product or service to consumers, need to hire project managers to look after these matters. 
Management ConsultantsThe most sort-after career option after completing a management degree is that of a Management Consultant. There are professionals working under big business houses and organisations to make optimum uses of resources and work together with management specific teams or department. Moreover, the consultants also observe the overall growth of the company. 
EntrepreneurWith a degree in Management, one will be perfectly equipped to start a venture of their own. It would become easier for individuals to combine their skills, interests and education to make their dream come true. 

Other Management Careers

Other popular jobs for people willing to work after completing Masters of Management (MIM) are listed below: 

  • Human Resource Manager
  • Accountant 
  • Forensic Accountant 
  • Sales Manager 
  • Finance Manager 
  • Banker 
  • Bank Manager 
  • Store Manager 
  • Entrepreneur

Here are some frequently asked questions regarding the Masters in Management course: 

Is GMAT required for MIM?
Most of the universities abroad accept GRE for admissions in Masters in Management. If candidates are applying to top business schools, then GMAT is also acceptable. To know whether GMAT or GRE will be a valid proficiency exam, one must consult the university guidelines. 

Is MIM better than an MBA?
MBA or MIM is a personal choice, saying one course is better than the other would depend on the career goal and requirements of the candidate. Seeking help from an overseas consultant is an excellent choice in such a situation.  

Which country is best to study MIM?
Some of the top countries to study Masters in Management are USA, Canada, UK, Germany and France. Depending upon the finances and course type, one can pick any of the mentioned countries.  

Is work experience necessary for MiM?
Generally, there is no work experience required to pursue a MIM course as it is considered a pre-experience degree. Further, having a little professional experience can make your profile highlight from the pile of other candidates.

What to do after MIM?
MIM graduates can explore varied entry-level managerial roles in the corporate sector. Usually, those completing MIM, enter the industry as a management trainee and then with some experience, you can choose from prominent profiles such as Advertising Manager, Human Resource Manager, Bank Manager, Sales Manager, amongst others.

Hopefully, this blog has covered different aspects pertaining to the Masters in Management (MIM) course. If you are someone who appeared for CAT and couldn’t perform well, do think about studying a similar course from universities abroad. Through GMAT you can apply to multiple business schools overseas with the help of Leverage Edu. Our AI tool will help you in selecting a well-suited course and guide you to draft a perfect application to make your dream come true.

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