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Average Salaries After Masters In Management Degree

Despite the globally competitive and challenging job market, a MiM degree remains very reputable among potential recruiters. As a MiM graduate, you should expect an attractive package in Masters in Management salaries.

With the expanding global demand for MiM graduates, an understanding of the salary ranges of potential graduate MiM employees is relevant as a guide through this lucrative career option.

For students wishing to launch their career in management, this programme will give you a foundation in the fundamentals of managing people and organisations within the real-world context of business today.

A business project and international field trip will develop your practical skills as a talented and intelligent manager and enable you to use your insights from the programme to create real-world, practical managerial solutions.

You will graduate from the programme as an insightful, analytical and strategic management, and stand out from other business school graduates with the ability to take on new and unknown challenges throughout your lifelong career in the fast-moving global business environment.

Objective and Curriculum Comparison in MBA vs MIM

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MiM (like with any master's degree) is more theoretical, whereas MBA emphasizes experiential learning, case studies, and real-world projects to expose students to many elements of management.

The idea is to delve deeply into specialized information in areas where you are already familiar. The emphasis then shifts to implementing those ideas and emphasizing business techniques.

A strong emphasis is placed on acquiring abilities like financial analysis, accounting, and so on, which may require extensive research.

The emphasis here is on fortifying the foundations. Students are taught key mathematical, critical thinking, and analytical skills in order to build core business principles. This is done so that students may understand all of the business ties and numerous business sectors in order to progress professionally in the areas that interest them, whatever their best match is.

What are the Purpose and Benefits of a MIM Degree?

The MiM degree is frequently used as a stepping stone to entry-level employment in business management that require little or no prior experience.

Marketing, consulting, and finance are just a few of the business areas covered in MiM courses. It gives pupils the opportunity to study and get jobs after MiM in Europe and atoher locations. It's also very popular with recruiters. Given its visibility, it provides good networking opportunities. Its purpose is to get pupils enough impetus to start establishing a promising management career.

Is MIM a Renowned and Valued Degree in Comparison to MBA

The question of recognition does not arise because the MBA is a globally recognised degree. However, MiM is well-known in Europe, where 85 percent of all MIM courses are presently offered. Although it is not as well-known as an MBA, it has fast acquired popularity in industries in the United Kingdom, the United States, Australia, Canada, and India. Is it ready for the big time? No, so far. People want to obtain work experience in Europe before returning to their own country to boost its value. By that time, they have a MiM degree and abroad job experience.

MIM ELIGIBILITY AND REQUIREMENTS VS. MBA

Unlike the MBA, the MiM does not require work experience or substantial professional accomplishments.
Most MiM programmes require students to obtain a bachelor's degree in any discipline.

MiM students often have less than two years of job experience.

MiM, like MBA programmes, requires applicants to take the GMAT, GRE, or other standardized tests to determine academic rigor.

International students must also have TOEFL and IELTS results in order to participate in classes.
GMAT/GRE scores are required for both programmes.

The admission process for both MBA and MiM is nearly identical, with students required to submit SOP, LOR, and Essays similarly to MBA.

Program Duration: MIM vs MBA

A few MiM programmes are constructed in such a way that they can be finished in a year.

They are typically shorter programmes ranging from 12 to 18 months in length; however, certain universities may provide 20-22 month programmes. Unlike many European business schools, MiM is a flexible programme that comprises Core Electives and Specializations. Some colleges also allow students to supplement their education with internships. There may also be time made aside for study and collaboration with subject matter specialists.

Most MBA programmes are expected to last two years (some are 12-18 months long).

Top MIM Schools and Salary Statistics 2023

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According to the FT Ranking 2023, the top-ranking institutions offering MiM programs and fine masters and management salaries in the sector are mostly of European origin. Europe remains a vibrant hub for several MiM graduates and attracts bright minds yearly.

According to FT Ranking Master in Management Rankings 2022, the top 20 schools for MiM are:

Rank University Name Weighted Average Salary(USD) Country
1 University of St Gallen 137,449 Switzerland
2 HEC Paris 128,145 France
3 IE Business School 122,189 Spain
4 London Business School 130,262 UK
5 ESSEC Business School 102,067 France/Singapore
6 ESCP Europe 111,215 UK/DE/IT/ES/FR
7 WHU Beisheim 122,172 Germany
8 ESADE Business School 105,869 Spain
9 CEMS 76,333 -
10 Universita Bocconi 75,423 Italy
11 Rotterdam School of Management of Erasmus University 79,248 Netherlands
12 University of Mannheim 93,478 Germany
13 WU Vienna 71,005 Austria
14 Imperial College Business School 66,276 UK
15 University College Dublin-Smurtfit 90,905 Ireland
16 Edhec Business School 91,708 France
17 Nova School of Business and Economics 80,067 Portugal
18 City University: Cass 115,201 UK
19 HEC Lausanne 148,710 Switzerland
20 HHL Leipzig Graduate School of Management 109,000 Germany

Employers of Masters in Management Graduates

Some of the top employers hiring from Masters in Management are Barclays Bank, Citi, Bank of China, Moody’s Cooperation, Flint Capital, Landmark Partners.

Job functions: 24% financial services; 8% technology;7% consumer goods and food; 40% consulting and 5% others

Financial Service sector: BNP Paribas, Citi, Goldman Sachs, HSBC, State Street Corporation.

Audit sector: PricewaterhouseCoopers (PwC), Ernst & Young (E&Y), Klynveld Peat Marwick Goerdeler (KPMG), Deloitte Touche Tohmatsu Limited.

Banking Sector: Deutsche Bank, HSBC, Bank of America, Wells Fargo, Citibank, Chase, and Barclays.

Management Career Opportunities

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As previously said, managerial positions not only guarantee job happiness, but also large annual pay packages. Furthermore, most management occupations have an upward-sloping career graph – the more you upskill and gain experience, the higher up you go on the career ladder! Degrees like MSc in strategic management and international management etc., are already proving to be a lucrative job areas.
 
The most rewarding element of pursuing a career in management is that you gain transferable abilities that may be used in any industry. Marketing Management, Human Resources Management, Business Management, Finance Management, IT Management, Retail Management, Hotel Management, Management Consulting, and International Business Management are just a few of the management specializations available.

Here are the top Management career alternatives you should consider:

1. Marketing Director

Marketing Managers are critical in raising brand awareness, broadening brand reach, and promoting a company's products/services to the target audience. They have a major influence on how a brand looks and feels, as well as how it communicates with its target audience.

The marketing manager's duties include telling the brand's story and increasing product awareness. The primary goal remains acquiring new clients and retaining existing ones.

How? Where? When? Whom are you addressing? The marketing manager is concerned with the product or service that should be placed. They determine the target segment and plan marketing strategies to make the product or service appealing to the segment.

Marketing Managers can find work in a variety of industries, including retail, media and advertising, hospitality, healthcare, finance, and information technology. Candidates with excellent business acumen and a creative imagination are most suited for this management position. Furthermore, effective communication and leadership skills are two essential requirements for Marketing Managers. Your IELTS test and its sections like IELTS speaking, and IELTS reading test will benefit you for this kind of role as well (as they involve English elements quite a lot).

Businesses recognise the value of marketing and provide competitive salaries to marketing workers. As excellent marketing increases customer pleasure, expands the firm, creates a brand image, influences brand loyalty, and benefits the organization as a whole.

It is regarded as one of the highest-paying jobs. The average salary is $175,211. Pay may be higher as a result of higher skill sets, experience, and more upskilling.

2. Sales Director

A Sales Manager is largely in charge of managing and directing a company's sales personnel, setting and meeting revenues targets, and growing sales by expanding brand reach. Sales Managers spend a substantial amount of time creating connections with clients and business partners in addition to developing sales strategy and campaigns.

They must work with product development and marketing teams to produce the correct campaigns to increase customer-brand engagement and generate sales.

Sales managers are accountable for their teams' achievement of sales goals. It is their obligation to train, plan, and execute their strategy in order to meet the target.

They make it a point to motivate their teammates and bring out the best in them.

Marketing, company management, business administration, and client relationship management are all required skills for Sales Managers. They should have excellent communication skills, a strong sense of teamwork, and a strong desire to move the organization ahead.

There are numerous types of management positions available on the market. One of the highest-paying jobs is sales management. The average annual pay $188,367. High skill sets, experience, and other variables may result in better pay.

3. Financial Manager

Financial Managers oversee all aspects of a company's finances. In this role, they create short- and long-term financial goals and implement data-driven strategies to attain them. They collaborate with Project Managers and departmental managers to make crucial financial choices for the organization, such as budgeting, resource allocation, and investment plans.

Financial Managers develop detailed financial reports, implement budgeting and forecasting techniques, brainstorm on money procurement, assess risk, monitor important metrics, and evaluate the organization's financial performance.

It is their obligation to look after the organization's financial health. They monitor, supervise, and generate precise outcomes or projections.

There are numerous finance management studies careers accessible, with finance manager being one of the highest paying.

Finance Managers must have a master's degree in a related field such as mathematics, economics, accounting, finance, or business studies. They must also have strong problem-solving, analytical, and technical abilities.

It is regarded as one of the high-paying occupations; financial managers regard high employability as a high-paying career. The average annual pay is $124,902. However, the salary may differ according to skills, experience, expertise and more.

4. Manager of Computer and Information Systems

Managers of Computer and Information Systems are in charge of a company's technological functions and requirements. They are also known as IT Managers since they work closely with top executives to identify their computer and IT needs. Following the creation of the provisions, Computer and Information Systems Managers develop particular goals and strategies to meet the company's technological (including software and hardware) requirements.

They keep an eye on the computer-related operations of the company. They are in charge of finances, information security, and incorporating new technology into the system.

Career opportunities gets slightly different when you study in UK vs France or any other European countries. However, jobs in computer and information systems are transferrable and very diverse. You can definitely work in this sector at multiple places in Europe.

On a bigger scale, the systems engineer simplifies a company's processes and technology utilization. On a smaller scale, the system manager is in charge of the organization's everyday technology demands.

As a highly technical career, a Computer and Information Systems Manager must be up to date on the newest technological advances. They must also be well-versed in mathematics, software development, network security, cybersecurity, Internet operations, and so on.

A systems manager's average pay is $79391. The salary may differ according to several factors, it is regarded as one of the highest-paying management positions. With the necessary skill sets, there will be no shortage of chances in this industry.

5. Public Relations Specialist

Public relations managers work to create and maintain a positive public image for their client or organization. They develop, create, and manage campaigns and content aimed at improving a company's public image.

The public relations managers identify their clients' stories and convey a message to the public. They have a talent for business and can create a strategy that will pique the public's interest.

Public relations managers create press releases, answer media questions, prepare speeches for product launches/media events for their clients, write articles for business publications, prepare media kits, and organize conferences. They must deal with any unfavorable publicity and any public relations crisis.

They are able to develop a brand image that causes the brand to grow enormously as a result of their efforts and expertise. The PR managers' branding skills require them to manage the budget as well as stay inside it.

A degree in journalism, communications, or public relations is required for PR Managers. They should be excellent communicators, presenters, organizers, time managers, and leaders.

PR management has a reputation for being a high-paying sector among the different alternatives and forms of career management. A PR manager's pay ranges from $51,832 and $67,957 on average. The income could be increased due to a variety of criteria such as experience, skill sets, projects, and so on.

Career Overview

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When it comes to choosing a MiM degree, you have a lot of options. Marketing, Finance, Strategy, Entrepreneurship, and Accounting are just a few of the many specializations available. However, because the fundamental element of the curriculum is the same for all degrees, job opportunities are generally the same for each speciality.

Workplace experience begins even before the curriculum is completed. Many programmes incorporate internship opportunities within the curriculum, giving students the opportunity to gain experience in various areas and develop their resume. You can then experiment to determine your genuine interests.

The MiM degree is extremely helpful for students with a bachelor's degree in Engineering or Physical Sciences, and it significantly boosts the value of your profile. Companies also place a higher importance on the integration of technical or scientific knowledge with commercial concepts than students who have had a similar academic background their entire lives. Top organizations are ready to offer such students internships, which are essential to them since they provide insight into how their theoretical knowledge may be implemented practically. This increases the value of their profile even more, making them more appealing employment candidates.

MiM graduates are also filling supervisory posts. The programme teaches the core principles of most management disciplines, making the student a perfect match for such a role because he or she can easily relate. The curriculum, for example, teaches managers how to settle team issues, promote teamwork, and participate in ethical processes. Top job portals also a way to find more options.

MiM graduates are also more likely to work with people from other cultures, nationalities, and backgrounds. This allows individuals to better adapt to events and think from many angles, all of which are crucial traits to have when working for a multinational corporation.

The placement success percentage is also very good if you enter the top ten institutions. Within three months of graduation, 93% of IE students were hired. Some universities even claim to have a 100% success rate. Salary levels are likewise high, ranging between $68000 and $98000 per year. This is the difference you get between studying abroad vs India. The MiM is gaining popularity in the United States and Canada. MiM graduates from US institutions earn an average income of $61000. Finally, the MiM is a safe bet, with starting pay ranging from medium to high.

Entrepreneurship and Family Business

The MiM degree, unlike other degrees, focuses on a curriculum that values entrepreneurship and self-reliance more than ever before. At the outset of their programme, students are asked to come up with concepts for new enterprises, which must be presented after developing an implementation strategy for the same. This boosts their self-esteem and inventiveness.

Furthermore, as a result of Europe's recession, entrepreneurship has emerged as a feasible Masters in Management Career option, particularly among younger students. This shift toward Entrepreneurialism further develops MiM graduates by encouraging them to be more risk-taking, independent, and business-savvy.

As a result, an increasing number of students are motivated to establish their own businesses, either directly after graduation or after gaining a few years of job experience. The independence and ability to pursue one's passions attracts recent grads.

Timo Steitz is an excellent illustration of this. He is an ESADE MiM graduate who came across a difficulty with shoe sizing and founded shoesize.me with four other students. His app has saved many customers and businesses money by making it simple to measure feet.

Many MiM graduates return to their family businesses. After gaining insights into business through the degree, they believe they are prepared to lead the development of their family firm and will so return to it.

Many factors have contributed to the establishment of the MiM degree, which has provided students with numerous job opportunities. You can even begin your career at prominent firms like McKinsey, Deloitte, and Goldman Sachs. If you pursue a Masters in Management Career, you can rest assured that your career will be in good hands.

Average Masters in Management Salary

For the year 2023, an MSc in Management graduates from top B-School starting average salary was 68,000 Euros with graduates finding the job all over the world.

Average masters and management salaries after 3 years of graduation is more than $145,000.

The employment rate is around 97% within 4 months of graduation and 65% have more than 2 job offers to choose from.

MiM degrees are valuable especially after a bachelor’s degree in engineering or physical science. Top companies offer internships to students. A MiM Degree is rewarding due to the six-figure salaries and the dynamic nature of the career. Good luck!

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