Not everyone can study Masters in Management (MIM). On one side, business schools have certain requirements, and usually the higher their position in the Financial Times Ranking the more selective they are. On the other side, you need certain skills to manage a Master of Management program successfully.
1. First academic degree
Who wants to be admitted to a MIM program already has to bring a few things with him. Most important is a first university degree – normally a Bachelor. But also everyone who already has a higher degree like a Diploma or a Master can apply.
2. Work experience not or only a little bit required
Most Masters in Management (MIM) do not require professional experience at all while some require some experience, mostly less than 2 years. This is an important difference to the Master of Business Administration (MBA) that usually requires a minimum of three years of professional experience (even though some MBA programs require only two years and by this come close to Maters in Management that also require two years).
3. Is a Bachelor in business or economics required?
While a first academic degree is required for studying a Master in Management two thirds of the MIM programs are open for graduates of all disciplines. You can use our search engine filter "Entry requirements" to find Master programs open for graduates from all disciplines.
4. Language skills
Most of the time MIM programmes are lectured in English. That’s why it is not unusual that universities often ask for a successfully completed TOEFL or IELTS for second language speakers – and these should carry quite high results. That way they want to make sure that all participants can follow the program and are able to cope with group work with participants from many different countries.
- Even more tests: Some Business Schools also accept other verifications about foreign language skills such as the Cambridge Proficiency Examination (CPE) and the Cambridge Advanced Examination (CAE). Some Business Schools even have in-house tests. This can be an advantage for the applicant because he saves spending money on the TOEFL. The disadvantage obviously is that the test is only valid for the university in question. Those who want to apply for several universities will generally not be able to get around without the TOEFL.
- Careful, date of expiry: Applicants have to bear in mind, that the results of the official tests are only valid for a limited amount of time. The TOEFL for example expires after two years and you have to resit the test– or in an individual case try to negotiate with the Business School.
- Alternative verifications: Someone who has already studied in English for a certain period of time or can prove that he has spent a certain time in an English speaking country might be able to save the money and the effort of studying for language tests. In these cases some Business Schools only test the language proficiency of the applicant in an interview.
Some universities require the GMAT or GRE from their applicants for the admission to a Master in Management degree course. There is no certain information about the score that has to be reached. Some Schools are content with a score of 500 whereas others require "600-800". Off the record many schools expect a minimum of 600 points. From 650 upwards you are top (and may also qualify for merit-based scholarships). Being below 600 does not mean that you will not get accepted - but you may need to show up with some additional "assets" to convince the school, for instance with above average grades in your undergraduate studies or an interesting CV also beyond academic achievements.
- Please find more information in our GMAT & TOEFL section.
6. Financing your MSc or MA in Management
Master in Management programs (MIM) on average cost about 12,000 EUR tuition fees - plus living and travel costs. Business schools usually want to see from you a clear plan on how you intend to finance your studies. A well-used way for this is a mixed approach of savings, loans, and scholarships.
- Difference between the MSc in Management and the Master of Business Administration (MBA)
- Which types of Masters of Management are offered and how can you distinguish them from each other?
- How do you find the right MSc in Management program our of hundreds of Masters in Management?
- How important are accreditations such as EQUIS or AASCB for the decision about which MSc in Management program to choose?
By Thomas Graf