Masters in Management (MIM) are postgraduate programs in general management. In contrast to MBA programs, however, they do not require professional experience. Where are they offered? How are they structured? Who is the typical MIM student? And what impact do they have on careers? The Global Master in Management (MIM) Survey 2014 provides to answer these questions. Unlike rankings, it aggregates data and provides an overview of an emerging field of management education.
MAIN FINDINGS 2014
Demand and Program Distribution
- Increasing demand for MIM programs: 75 percent of our sample schools are seeing an increasing demand for Master in Management (MIM) programs from Asia and the Middle East, followed by Europe (64 percent), Africa (63 percent), Latin America (59 percent), North America (50 percent), and 26 percent from Australia and the Pacific region.
- Trend toward increasing demand from Latin America and Africa: While in 2013, 44 percent of our sample schools indicated increasing demand from Latin America, 59 percent indicate such a demand in 2014. As for Africa, the increase in demand is even higher: While in 2013, 36 percent of the schools indicated increasing demand, the figure rose to 63 percent in 2014
- Most MIM programs offered in Europe: 73 percent of the full-time Master in Management (MIM) programs are offered in Europe followed by North America (13 percent), the Asia-Pacific region (13 percent), and Latin America (1 percent).
- Trend for MIM programs also outside of Europe: It seems that MIM Programs are becoming a trend outside of Europe as well. All non-European programs in our sample have been set up since 2001.
Students and Admissions Criteria
- MIM students come from all academic backgrounds: Only 17 percent of the MIM programs require a first degree in business or economics. The other 83 percent are either open to graduates from all disciplines (56 percent), target explicitly graduates from non-business subjects (11 percent), or focus on graduates from business or economics disciplines and some other disciplines with a strong methodological education (17 percent).
- Final grade in previous studies as the most important admissions criterion: The most important admissions criterion for most MIM programs is the final grade in an applicant’s previous studies, followed by the GMAT. Some schools use interviews as a most important criterion and place only secondary importance on previous academic achievements. For most MIM programs, other criteria such as essays, internships or extra-curricular commitment can be seen as additional but not important criteria.
Differences between MIM and MBA
- Graduates vs. professionals: As a rule, MIM programs are for graduates, while MBA programs are for professionals.
- Age and experience: As a consequence, MBA students are older than MIM students and have several years of work experience.
- Tuition fees: Tuition fees for MBA programs tend to be double those for MIM programs on average.
- Salary: On average, MIM graduates earn about EUR 40,000 in the first year after graduation. The range is huge, however, as MIM graduates earn between EUR 25,000 and 70,000. Graduates from programs with many international students and a high average GMAT score earn the most, particularly when they start to work as consultants.
- Job search: Most MIM graduates (87 percent) find a job within three months of graduating. This fast job entry can be observed particularly in programs with high GMAT requirements and international students – and when students start to work in the consulting industry.
- Target industries: Most MIM graduates start to work in many industries. The primary target industries, however, are consulting and financial services.
Institutions that participated in the Global MIM Survey 2014
- Alpen-Adria-Universität Klagenfurt
- Antwerp Management School
- Audencia Nantes School of Management
- Brunel University
- CEMS Global Alliance in Management Education
- Colorado State University
- Cranfield School of Management
- EADA Business School
- ESADE Business School
- ESB Business School, Reutlingen University
- European School of Management and Technology (ESMT)
- FH Mainz - University of Applied Sciences
- Fontys International Business School
- Fordham University, The Jesuit University of New York
- Frankfurt School of Finance & Management
- HEC Paris
- IAE Aix Graduate School of Management
- IAE Bordeaux- University School of Management
- ICN Business School
- IE Business School
- Johannes Kepler University, Linz
- Kühne Logistics University
- Kent Business School
- Koc University Graduate School of Business
- Lakehead University
- Lancaster University Management School
- London Business School
- London School of Economics and Political Science (LSE)
- Munich Business School
- National University of Ireland Galway (NUI)
- Nottingham Business School, Nottingham Trent University
- Nova School of Business and Economics
- NUS Business School, National University of Singapore
- TIAS School for Business and Society
- Toulouse Business School
- Trinity College Dublin
- Università Bocconi
- Universitat Pompeu Fabra
- University College Dublin, Michael Smurfit
- University of Bradford School of Management
- University of Cologne
- University of Economics, Prague
- University of Florida
- University of Manitoba
- University of Savoie, IAE Savoie Mont-Blanc
- University of South Carolina
- University of the Sunshine Coast
- University of Trento
- University of Virginia
- University of Windsor
- WHU - Otto Beisheim School of Management
- WU Vienna University of Economics and Busines
By Thomas Graf