Jobs After MiM In Europe
Like millions of students all over the world, you have finally completed your undergraduate degree and are now working at a top MNC. The work is pretty decent but you feel you should be doing something more with your life. You have always been inclined towards the field of business. You suddenly remember that many of your classmates (almost 1/3rd batch) is already pursuing MS from US. A few of them are pursuing MiM and some have already received jobs after MiM in Europe, Australia, etc. You start contemplating whether you should pursue MiM. You google the degree and later realize that it’s something that could actually benefit you in the long run.
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Is the MiM degree worth it?
Masters in Management, albeit a new degree, is gaining a lot of traction with companies all over the world. As most of the MiM colleges are present in Europe, obviously its popularity is much higher over there.
Like MBA, the MiM degree prepares the graduate for a leadership role in a wide range of industries.
It is an amazing degree for fresh graduates or people with up to 2-3 years of work experience. It is especially useful if you would like to change fields ( get into management from sciences, for example) or want to add some extra teeth to your UG business degree. With such excellent schools offering the degree, the brand name attached to studying at these schools goes a long way to improve your future prospects. So if you are an ambitious young person, wanting to make it big in the business field, at an early age, well MiM is the degree for you.
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 which students value such as Average Salary, previous rankings, Class strength, Program length etc, have been compared for the top 20 schools.
The latest Masters in Management (MiM) Rankings by the Financial times are as follows:
|Ranking 2017||Name of the Universities||Weighted Salary ($)||Placement rate (Within 3 months of graduation)|
|1||University of St. Gallen, Switzerland||114,449||100%|
|2||HEC Paris, France||99,145||97%|
|3||IE Business School, Spain||91,189||93%|
|4||London Business School, UK||85,262||96%|
|5||Essec Business School, France||89,067||94%|
|6||ESCP Europe, France, UK, Germany, Spain, and Italy||78,215||95%|
|7||WHU Beisheim, Germany||106,172||95%|
|8||Esade Business School, Spain||74,869||90%|
|9||CEMS (Global Alliance in Management Education)||76,333||95%|
|10||Università Bocconi, Italy||75,423||97%|
Average Salaries after MiM
As you can see from the above table, the weighted annual starting salaries of students from the world’s top ten schools ranged between $75,423 (Università Bocconi) and $114,449 (St. Gallen). Considering most of the MiM graduates have somewhere between 0-2 years of work experience, the pay is pretty good for a fresher.
But do you know what does ‘weighted salary‘ exactly mean?
According to FT Business School Rankings, Weighted Salary stands for ‘The average alumnus salary three years after graduation, US$ PPP equivalent, with adjustment for variations between sectors. Includes data for the current year and the one or two preceding years where available.‘
For the year 2017, an MSc in Management graduates from top B-School starting average salary was 68000 Euros with graduates finding the job all over the world. Average Salary after 3 years of graduation is more than $98000. The employment rate is around 97% within 4 months of graduation and 65% have more than 2 job offers to choose from.
Masters in Management Career Options
How hard has Brexit hit the MiM Job market?
According to major sites like News18.com, while European students will now need to pay more fees in order to study in UK as they will be considered as International Students and will also need a Work Visa in order to seek employment in the UK, this will come across as a benefit to international students as they’ll have access to more job opportunities in the UK. The European MiM job market remains unaffected by this decision.
Also, as you can see in the aforementioned table, more than 90% of students are placed within the first three months of graduation. With the highest ever placement rate of 100%, St. Gallen not only ranks first for their over school ranking but also ranks first in terms of placement rate.
Consulting (37%) and finance (24%) are the two main sectors that employ MiM degree holders, according to an employment statistics study from 2014 quoted on the HEC’s website. The next big sectors are high technology (8%), consumer goods and food (7%), industries and utilities (6%), and media, leisure, and tourism (5%).
MiM Graduates can expect entry-level roles such as Management Trainee, Financial Services Analyst, Graduate research analyst, etc. in mainly Consulting, Finance/Accounting, Sales/Marketing, Operations/Logistics in that order. MiM graduates mostly enter the Consumer Goods, Consulting or Financial Services/Banking Industry.
Also, top companies from many domains such as BCG, Mckinsey in Consulting, L’Oreal, LVMH, 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 which earlier would have been reserved for MBA students, this way the companies can develop managers who are aligned to their companies 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.
In conclusion, MiM is an amazing degree and could be one of the best investments you ever make in your life. The only drawback of pursuing MiM is that even though it is well respected in Europe and has a good scope, it does not count for anything in India, at this moment. In the EU region, even though the job market is competitive, your chances of getting a good job after MiM in Europe increases as long as you are graduating from a Top Ranking MiM School.
If you’re really 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 the immigration laws are not that strict, and you have a chance to work for some time before returning home. For 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. However, it’s not the same case with France where you get to stay a little longer than that.
- Work hard while you are doing the MiM. The job market is very competitive and just because you come from a good school, companies will not be fighting over you. Be proactive, learn new skills, keep gaining experience in a sector relevant to the industry you want to work in.
- Another thing you can do is get an internship while still pursuing your degree, and later convert that degree into 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.