Table of Contents
Ready to boost your career with a Master in Management (MIM) degree? Discover the FT MIM Ranking, your ultimate guide to the best MIM programs worldwide.
A Master of Management (MIM) is a postgraduate degree for new professionals. It enhances leadership, strategic thinking, and global business skills, making graduates more appealing to employers and boosting career opportunities.
This blog will delve into the Financial Times Ranking of MIM programs. It aims to help you select a top program. High rankings usually lead to better job prospects, higher salaries, and a quality education.
What is MIM?
MIM stands for Masters in Management, a postgraduate degree that offers a broad business education for those early in their careers. It is popular for several reasons:
1. Early Career Boost
Designed for recent graduates, MIM programs cover essential business areas like finance and marketing, giving you a head start in the job market.
2. Comprehensive Curriculum
They offer a wide range of business topics, helping you develop useful skills in various roles. With specialization Options, you can focus on areas like finance or marketing, tailoring your education to your career goals.
3. Networking Opportunities
MIM programs connect you with diverse peers, helping you build valuable professional networks.
4. No Work Experience Requirement
Unlike MBAs, MIMs don’t require work experience, making them accessible to recent graduates.
How is the FT MIM Ranking 2023 Designed?
The Financial Times MIM Ranking 2023 uses various criteria to rank programs, each with specific weights. These criteria include:
1. Weighted Salary (16%)
This measures the average graduate salary three years after completing the course, adjusted for differences between sectors.
2. Salary Increase (10%)
This looks at the average salary increase from graduation to the present, considering both absolute and relative increases.
3. Value for Money (6%)
This is calculated based on current alumni salaries compared to tuition and other costs.
4. Career Progress (6%)
This ranks changes in alumni seniority and the size of their organizations from graduation to now.
5. Alumni Network (3%)
This measures how effective the alumni network is for career opportunities, starting businesses, hiring staff, and providing event information, as rated by alumni.
6. Employed at Three Months (5%)
This is the percentage of the most recent class that found employment within three months of graduation. The number in brackets shows the percentage of the class for which data was available.
Top US MIM Schools Not in FT Rankings
The FT MIM Ranking 2023 does not include many US business schools; several top-tier programs in the US offer excellent Masters in Management degrees:
1. The University of Michigan Ross School of Business
The Ross MiM program teaches important business basics with options to focus on finance, marketing, and consulting. It emphasizes hands-on learning and has a high rate of job placement.
2. Duke University Fuqua School of Business
Fuqua's MMS (Master of Management Studies) program is for recent graduates looking to develop business skills. It offers a flexible curriculum with opportunities for international study and real-world projects.
3. Kellogg School of Management
Kellogg's MiM program provides a comprehensive business education focused on leadership skills. The flexible curriculum allows students to specialize in finance, marketing, or entrepreneurship.
4. Columbia Business School
Columbia's Master in Management program teaches important business skills to people starting their careers. Based in New York City, it offers great chances to meet professionals and focuses on practical learning and real-world problems.
What is FT MIM Ranking 2023?
After choosing what to study, picking the right college is very important. Many students find it hard to choose the best college and get confused. To help you, we made a list of the top 15 schools for a Master in Management (MiM) degree based on the FT MIM Ranking. We also included the average MIM salary from each college.
| Ft ranking MIM 2023 | School | Country | Average Salary (USD) |
|---|---|---|---|
| 1 | HEC Paris | France | 129,806 |
| 2 | University of St Gallen | Switzerland | 129,264 |
| 3 | London Business School | UK | 114,438 |
| 4 | ESCP Business School | France | 102,362 |
| 5 | ESSEC Business School | France | 108,393 |
| 6 | Tsinghua University School of Economics and Management | China | 128,461 |
| 7 | Emlyon Business School | France | 101,747 |
| 8 | SDA Bocconi/Università Bocconi | Italy | 102,910 |
| 9 | ESADE Business School | Spain | 112,183 |
| 10 | Rotterdam School of Management, Erasmus University | Netherlands | 108,864 |
| 11 | EDHEC Business School | France | 104,595 |
| 12 | Shanghai Jiao Tong University: Antai | China | 111,579 |
| 13 | WHU – Otto Beisheim School of Management | Germany | 128,392 |
| 14 | IESE Business School | Spain | 100,835 |
Top 5 Schools according to FT MIM Ranking
The top 5 schools offering Masters in Management (MiM) programs highlight their unique features and contributions to business education.
1. HEC Paris
HEC Paris has a top-ranked Master in Management (MiM) program. The program is known for its strong classes, hands-on learning, and international focus. Students can choose from 20 different specializations. HEC Paris also has great job results, with all graduates finding jobs within three months and an average starting salary of €67,000.
2. University of St. Gallen
The University of St. Gallen's MiM program is ranked in the top 10 globally by the Financial Times. It offers a comprehensive curriculum covering core business disciplines like accounting, finance, marketing, operations, and strategy. Students can choose from 20 different specializations to tailor their education.
3. London Business School
London Business School's MiM program is also ranked in the top 10 globally and provides similarly broad-based business education with opportunities to specialize in 20 different areas. The program's location in London offers students unparalleled networking opportunities and exposure to various industries.
4. ESCP Business School
ESCP Business School's MiM program lasts 18 months and offers 47 specializations. This lets students learn a lot about what they are interested in. The program also has a global perspective with campuses in Europe.
5. ESSEC Business School
ESSEC Business School's MiM program has students from over 30 countries and is very selective, accepting only 13.7% of applicants. The program offers 47 specializations across three campuses and focuses on sustainability, social impact, and new technology.
Note: You can connect with an expert to learn more about the top B schools for the MIM Program.
Why are Rankings Important?
Rankings play a crucial role in guiding students toward the best educational institutions. Attending a highly-ranked school can significantly boost a student's career prospects and earning potential. Top-ranked schools are often perceived as a "quality stamp" by employers, who prioritize recruiting from these institutions.
The most prestigious and highly ranked schools are typically the most selective and competitive for admission. Gaining acceptance to a top-ranked school is a notable achievement that can open many doors for students. The rigorous admissions process ensures students are among the best and brightest, fostering a stimulating and challenging academic environment.
Why the FT MIM Ranking?
The FT rankings are valuable when selecting the best schools for a Master in Management (MIM) program. Here are several key reasons why:
1. Reputation and Credibility
The FT rankings are highly respected and considered a "gold standard" for assessing business schools. Since their inception in 1999, they have established themselves as a reliable and authoritative source. Employers and students alike trust these rankings for their emphasis on international quality and diversity.
2. Comprehensive Methodology
FT rankings consider various factors, including alumni career progress, the international focus of programs, faculty research strength, and gender diversity. They also use purchasing power parity (PPP) to adjust alumni salaries for cost of living differences, ensuring a fair comparison.
3. Global Perspective
The FT rankings are global, allowing students to compare MIM programs worldwide. This is particularly valuable for those seeking an internationally diverse education and network.
4. Specialized Focus
The FT publishes specific rankings for different business school programs, including a dedicated Master in Management (MIM) ranking. This provides targeted and relevant information for prospective students.
5. Transparency and Accountability
The FT rankings are transparent about their methodology, detailing the criteria used to evaluate and rank programs. This transparency helps students understand how the rankings are determined and trust their accuracy.
What is the Eligibility Requirement for MIM?
When considering a Master in Management (MIM) program, here are the key eligibility requirements for an MIM degree you need to know:
1. Academic Background
- Most MiM programs require a bachelor's degree from a recognized university, regardless of the field of study.
- While some programs prefer candidates with a business or economics background, many are open to students from various academic disciplines.
2. Work Experience
- MiM programs are designed for early-career professionals and typically do not require extensive work experience.
- Some programs may prefer candidates with 1-2 years of internships or part-time work experience.
3. Language Proficiency
- Non-native English speakers must demonstrate proficiency through tests like TOEFL, IELTS, or PTE.
- Specific score requirements vary by institution.
4. Standardized Test Scores
- Many top MiM programs require GMAT or GRE scores. However, some programs offer waivers for exceptional candidates.
- Required scores can vary by program.
5. Application Materials
- These include an online application form, academic transcripts, a CV/resume, letters of recommendation, and a statement of purpose.
- Some programs may also require an interview, either in-person or via video platforms like Kira Talent.
Note: Eligibility criteria can vary by country and specific MiM programs, so it’s essential to review the requirements of your target schools to ensure you meet their qualifications.
Top 5 Job Roles for MIM Graduates
Graduates of Master in Management (MIM) programs have a diverse range of career opportunities across various industries. Here are the top five job roles for MIM graduates, highlighting their responsibilities and potential salary ranges:
| Sector | Average Salary (Annually) |
|---|---|
| Financial Analyst | $140,000 |
| Associate Consultant | $150,000 |
| Business Analyst | $62,000 |
| Assistant Product Manager | $44,000 |
| Supply Chain/Operations Analyst | $70,000 |
Conclusion
The FT MIM Ranking highlights leading global business schools and their Masters in Management programs. It assesses each school by examining alumni salaries, career growth, and program diversity.
The latest ranking shows European business schools' strength in the MiM category. HEC Paris, the University of St. Gallen, and London Business School take the top spots. For those thinking about a MiM, these rankings offer a solid comparison.
