Like millions of students all over the world, you have finally completed your undergraduate degree and are now working at a top MNC. Even if the work is rather good, you feel as though you should be doing more with your life. You've always had a tendency to work in business. You suddenly remember that many of your classmates (almost 1/3rd batch) are already pursuing MS from the US. Some of them are pursuing a MiM, and others have already secured employment abroad, in places like Europe and Australia. You begin debating if you ought to pursue MiM. You google the degree and later realize that it’s something that could benefit you in the long run.
Overview of MIM Job Prospects Abroad
Because of the lenient entry requirements and more affordable tuition, many students choose MIM programs over an international MBA. In addition, MIM institutions only demand a minimal 1-3 years of job experience, if any at all.
A MIM program prepares graduates to handle leadership roles in multiple companies. To enhance interpersonal skills and teamwork, it offers personality development programs. Furthermore, case studies as part of the course help students understand how a manager’s decision can impact the business in a lucrative manner.
So, if you want your jobs after MIM to be in managerial or supervisory roles, a MIM abroad will surely help you acquire knowledge and skills to resolve organizational conflicts, improve team functioning, and make controlled/evaluative decisions.
The jobs in Europe after MIM is a fascinating aspect. You can work and collaborate with many international firms and organizations there. Because the whole continent is very much interlinked, MIM graduates find all kinds of opportunities at their disposal. Things like accommodation for students in Germany, transport, career etc. are all good when you choose Europe for MIM.
Is the MiM degree worth it?
Master in Management, albeit a new degree, is gaining a lot of traction with companies all over the world. Given that the majority of MiM universities are located in Europe, it is apparent that the region enjoys far greater appeal. Degrees like MSc in strategic management, international etc., have been proved quite popular among international students.
The MiM degree, like the MBA, prepares the candidate for a leadership position across several sectors.
For recent graduates or those with up to 2-3 years of work experience, it is a fantastic degree. It is especially helpful if you wish to switch disciplines (for example, from sciences to management) or want to give your undergraduate business degree more clout. With such excellent schools offering the degree, the brand name attached to studying at these schools goes a long way to improve your prospects. So if you are an ambitious young person, who wants to make it big in the business field, at an early age, well MiM is the degree for you.
Eligibility for pursuing MIM
MIM is typically pursued by recent graduates or graduates with one to two years of work experience to expand their skill set. Graduates who desire a degree in business management typically pursue an MBA. In contrast to MIM, getting an MBA is more costly and has more challenging entrance requirements. Over the last decade, MIM has become a popular alternative for those who do not want to do an MBA. It is preferable for students to pursue a MIM degree if they have an engineering bachelor's degree.
A MIM program is significantly less expensive than an MBA degree. The job experience necessary to enroll in a MIM degree is another common incentive for students to pursue this degree. In contrast to traditional B-schools, where admission to an MBA program often requires a substantial amount of job experience, MIM offers entry with as little as one to two years of work experience. Ignoring the eligibility criteria for study in UK vs France, Spain or any other European country is not a wise choice.
Let’s take a look at the best colleges for pursuing MiM in 2022
You can also get a pretty good idea about the nature of the school by a quick look at their rankings since the rankings are based on metrics that students value such as Average Salary, previous rankings, Class strength, Program length, etc, which have been compared for the top 20 schools.
The Financial Times' most recent rankings for Masters in Management (MiM) are as follows:
- University of St. Gallen, Switzerland can provide you with a job that offers a salary of USD 123,999 and placement rate of the college is 100%
- HEC Paris, France can provide you with a job that offers a salary of USD 114,357 and placement rate of the college is 97%
- IE Business School, Spain can provide you with a job that offers a salary of USD 91,189 and placement rate of the college is 93%
- London Business School, UK can provide you with a job that offers a salary of USD 100,789 and placement rate of the college is 96%
- Essec Business School, France can provide you with a job that offers a salary of USD 99,804 and placement rate of the college is 94%
- ESCP Europe, France, UK, Germany, Spain, and Italy can provide you with a job that offers a salary of USD 78,215 and placement rate of the college is 95%
- WHU Beisheim, Germany can provide you with a job that offers a salary of USD 106,172 and placement rate of the college is 95%
- Esade Business School, Spain can provide you with a job that offers a salary of USD 74,869 and placement rate of the college is 90%
- University of College Dublin, Smurfit can provide you with a job that offers a salary of USD 94,517 and placement rate of the college is 95%
- Rotterdam School of Management, Erasmus University can provide you with a job that offers a salary of USD 95,875 and placement rate of the college is 97%
What is the Average Salary After Pursuing MIM?
The average salary offered through master's in management jobs at top universities ranges from 50,000 USD to 100,000 USD per annum. Top recruiters also provide top compensation to overseas students, ranging from 100,000 to 150,000 USD.
The salaries are quite variable and entirely dependent on your skill set, and how fast you adapt to your environment.
Masters in Management Career Options
Entry-level positions like Management Trainee, Financial Services Analyst, Graduate Research Analyst, etc. are available for MiM Graduates. in mainly Consulting, Finance/Accounting, Sales/Marketing, and Operations/Logistics in that order. MiM graduates mostly enter the Consumer Goods, Consulting, or Financial Services/Banking Industries.
Also, top companies from many domains such as BCG, Mckinsey in Consulting, L’Oreal, LVMH, and P&G in Marketing to BNP Paribas, KPMG in Finance are preferring MiM graduates because of the multidisciplinary skills they attain during their course.
In this way, the MiM is offering heavy competition to MBA graduates, as these MiM students are developed to take up roles that earlier would have been reserved for MBA students, this way the companies can develop managers who are aligned with their company's values and do not have to go through the trouble of training new people for upper-management jobs.
As far as post-study opportunities are concerned, students get placed all over the world be it Dubai, Hong Kong, Singapore, or London. Now, MIM without GMAT is also getting more recognition, means more options to students.
What are the Most Popular Job Positions After MIM?
Graduates of MIM programs can find employment in consultancy, finance, technology, government & non-profits, retail & luxury, etc. Additionally, in the last few years, recruiters have preferred MIM graduates as they are younger, can be easily molded, and embrace corporate values faster. They are fast learners, risk-takers, and internationally mobile. Let's take a look at some of the well-known MIM job openings for recent grads.
You can check top job portals for further assistance.
Business Development Manager
You can work as a business manager using the knowledge you get through the MIM program in business handling, finance, marketing, and management. You will be responsible for bringing new clients to the organization and maintaining positive relations with the existing ones. As per the emolument, the average salary of a Business Development Manager is $62,000.
With a MIM, you may work as a project manager in a variety of industries, including IT, infrastructure, and healthcare, to manage constrained project timelines, strict deadlines, and maintain communication within the team. According to the emolument, the highest product manager’s average salary after MIM is $107,000.
Social Media/Digital Manager
Students can build their careers with a Master's in Management by working in marketing and communication. This profile requires a lot of accountability as you will be the face of your organization. You must be creative and knowledgeable of social media platforms and digital marketing to succeed in this position after MIM. According to the emolument, the average salary of a social media/digital manager is $54,000.
This position is ideal for you if you have managerial abilities and are a natural leader! You must be strategic in your work while carrying out the essential responsibilities to suit the demands of your firm. Because managing a team can be challenging at times, a marketing director must be persistent. Persistence is essential in this position while leading a team. In addition, you must guarantee that the company's managerial tasks are carried out efficiently.
After earning a MIM degree, a marketing director may expect to earn an average salary of USD 130,717 annually.
Digital Marketing Manager
If you enjoy digital marketing and are tech smart, this is the position for you! You need to have certain abilities in order to manage or work in the field of digital marketing, including creativity, marketing expertise, problem-solving prowess, teamwork, business sense, and leadership abilities.
The average salary for a digital marketing manager with a MIM degree is USD 86668 annually.
Get on with Instagram accounts for students, which is amazing for finding out new business and career development. Especially when it comes to digital marketing, these accounts prove much more effective than imagined.
Marketing Research Analyst
If you enjoy staying on top of industry trends, this position is ideal for you! You are required to thoroughly comprehend market dynamics as a digital marketer and apply them to drive as many sales as possible. By creating surveys and carefully assessing the market, a market research analyst must gather information about customers, target audiences, rivals, what's moving in the industry, etc.
After earning a MIM degree, you can expect to make an average salary of USD 69,000 annually as a marketing research analyst.
This position is ideal for you if you are creative, analytical, and have the communication abilities to approach a product's customers. In order to effectively engage the target audience, marketing consultants are in charge of using and identifying successful marketing initiatives. They assist businesses in defining and achieving marketing goals by utilizing their marketing expertise.
With a MIM degree, you can expect to make an average annual salary of USD 60069 as a marketing consultant.
If you are a PR professional with experience promoting brands in the marketplace, this position is ideal for you! Market research, content production, social media, and design are just a few of the marketing responsibilities of brand managers. An ideal brand manager would be a master of all crafts.
With a MIM degree, you can expect to make an average annual salary of USD 124,433 as a marketing consultant.
Product Marketing Manager
If you have the ability to market a product effectively, this position is ideal for you! Being strategic and creative, knowledgeable about branding and product positioning in the market, adept at fixing mistakes, and keeping an eye on brand/product growth are all required skills for this role. Product development, product marketing, and product sales are all under your purview as a product marketing manager.
After earning a MIM degree, a product marketing manager may expect to earn an average salary of USD 75069 annually.
Manager Of Business Development
This position is a great fit for you if business growth is your thing! As a business development manager, you must collaborate with the sales team to build business development plans that will increase the company's direct sales of the product. A business development manager's responsibilities include creating mutually advantageous plans, negotiating deals, and keeping positive relationships with all parties involved in a firm.
After earning a MIM degree, you can expect to earn an average income of USD 88276 annually as a business development manager, with the top compensation reaching USD 100289.
If you are goal-oriented and a leader, this position is ideal for you! A sales manager is in charge of increasing sales for a corporation. A sales manager also directs sales associate teams by supervising sales strategies and doing data analysis. In a company, a sales manager is also in charge of recruiting and educating sales representatives.
The average sales manager income after earning a MIM is USD 86142 annually, with the maximum compensation reaching USD 110556 annually.
Top Recruiters for MIM Jobs Abroad
In order to succeed in your MIM career, let us now assist you with some of the finest recruiters worldwide.
Fields such as consulting and finance provide a majority of employees to MIM graduates. Other well-liked industries include those in technology, retail, luxury products, etc. some top recruiters to start your career with a master's in management include:
- BNP Paribas
Tips For Doing MIM in Europe
If you’re intent on getting jobs after MiM in Europe, you can make the process easier by following a few things mentioned below –
- Choose a country where immigration laws are not that strict, and you have a chance to work for some time before returning home. E.g. If you want to work in Spain, you need to know the local language and get only 3 months post-graduation to look for a job, after which you’ll have to go back home. With France, you may stay a bit longer than that, so it's not the same situation.
- Look for education loan for UK, Germnay, France etc. to make your education easier. Funding your education abroad is no easy task. Every student profile is eligible for some sort of scholarship and education loan.
- When doing the MiM, work hard. Because of how fiercely competitive the employment market is, employers won't be vying for your services just because you attended a reputable university. Be proactive, learn new skills, and keep gaining experience in a sector relevant to the industry you want to work in.
- Get a good score on IELTS or TOEFL test scores. Get the help with resources for TOEFL/IELTS to score big.
- You may also obtain an internship while completing your degree and then use that degree to land a job. Many companies regularly interns from Top MiM Schools, so make sure you apply for the same as soon as such opportunities present themselves in front of you.
- Participate in exchange programs.
- Get good scores in tests like GRE, GMAT, IELTS etc. Take help from GRE books, IELTS mock tests or any other resources. These tests make a solid argument on your behalf.
Tips to getting Job-Ready After Master in Management
If you have graduated in MIM from a university/b-school other than the top one, you will have to put in extra effort to hold a job. Utilize these essential recommendations to acquire a lucrative Master of Management studies income.
- You can pick a nation with more permissive immigration regulations than others. After earning your MIM degree, this choice will provide you more time to look for employment. For example, a job after MIM in Spain needs to be finalized within 3-months of graduation. For a select few typical pupils, this situation may be challenging. Therefore, take into account a nation's immigration regulations before making your decision.
- The job market abroad is extremely competitive. It might get difficult to secure a job position even after completing your Master's in Management from a prestigious university. So it is advised to enhance your skills, be proactive, and gain experience in a particular industry where you want to work.
- While pursuing your MIM degree, get an internship, and once you've finished it, apply for the job. Make sure to apply for an internship because many businesses hire graduates of the best MIM schools.
- Build a strong network by making new friends, industry contacts, or business partners. Through corporate connections, one may easily find a variety of MIM employment openings.
- You can increase your chances of finding employment by taking part in exchange programs. They give pupils a place to learn where they may thrive by collaborating to solve issues, assuring a bright future.
- It's excellent if you have certain professional objectives that you want to follow no matter what. However, keep in mind that students in business schools frequently alter their career objectives while enrolled in classes. Just consider the fresh perspectives, information, and experiences you will encounter. You need to simply accept that a change of heart is possible. There is nothing improper about that.
- Get student accommodation in the UK or any other major European country sorted. These housing services can help you find permanent or temporary accommodation in Europe.
Students should visit the business school’s career services office, where they will have career assumptions tested and get help in setting appropriate professional goals. This is not meant to imply that your initial career strategy was incorrect. Not at all. But at your business school career department, you can find experienced staff who can point out skill gaps and address them.
Your career services office can do much more than tell you where you can find a job. It can help you prepare a professional development plan using methods such as 360-degree feedback, personality assessment, and career coaching. You will understand better how others perceive you, but more importantly, you will know your strengths, interests, and development areas. It is much easier to set career goals if you know these things.
(Do not forget about your English language proficiency test. Prepare all sections like the IELTS speaking test, IELTS reading, writing etc., to score well. You will need an IELTS/TOEFL score to study plus work abroad. The scores are valid for two years only, so you might have to take them again.
The Master in Management can be a great choice if you want to learn about the core areas of business. And even a greater one if you want to choose from many jobs in management. Think about the possibility of getting a MiM degree. It may be the ideal launchpad for your global career.
Now you know the top MIM job opportunities, Master of Management studies salary offered by top universities, tips that make careers with a Masters in Management degree, etc. Despite all this information, the actual application and job procurement process can still be strenuous. But worry not, you can make your study abroad journey a premium and hassle-free ride by going premium with MiM-Essay. Our counselors will surely help you at every step!
In conclusion, the MiM is a fantastic degree and could be the finest investment you ever make. The sole disadvantage of pursuing MiM is that, despite its reputation in Europe and its promising future, it now means nothing in India. In the EU region, even though the job market is competitive, your chances of getting a good job after MiM in Europe increase as long as you are graduating from a Top Ranking MiM School.
However, if you have graduated from anything apart from a Top Ranking School and that too with an average profile, you would need to put up considerable effort to get a job.