Masters in Management: Top Colleges, Eligibility and Entrance Exam

17 mins

The MiM, or Masters in Management, is a high-end post-graduate degree aimed at graduates and young professionals. It's a degree that covers a wide range of management topics, including finance, marketing, consulting, and entrepreneurship, among others.

It's an excellent degree to get, especially if you want to change careers early in life or work in management. It may be perfect for you if you're searching for an introduction to business principles, global exposure, and professional experience.

Master in Management programs is famous among recent graduates and early-career professionals who want to advance their business and management careers.

According to the Prospective Students Survey, 85 percent of MiM applicants are under 24. In addition, candidates have an average of 1.5 years of work experience. And these candidates prioritize international study and employment prospects and the opportunity to obtain managerial skills as their top reasons for pursuing a MiM.

The gender breakdown is relatively even: males account for roughly 56 percent of MiM applicants, while females account for 44 percent.

In terms of education, 64 percent have a business degree, 29 percent have a STEM degree, and 12 percent have a humanities degree or a social science degree.

MiM programs are available in a variety of lengths and formats.

A one-year master's degree in Management is available.

The majority of Master's degrees in Management are one-year, on-campus programs. These are amazing for students who want to improve their job prospects or who already have some work experience, as you will graduate faster and be able to implement what you have learned more rapidly.

"A one-year program graduate will be able to pursue opportunities sooner and benefit from the knowledge obtained during their education," says Durham University Business School director of management programs Christos Tsinopoulos.

A two-year master's degree in Management is available.

Candidates wishing to go further into specialty subjects while gaining greater international exposure or professional experience prefer two-year Master in Management programs.

HEC Paris and ESSEC Business School, for example, offer Grande Ecole programs in which you finish the entire MiM curriculum in your first year, then concentrate on a specific subject, earn a specialized master's degree, and obtain job experience through an internship in your second year.

Management master's degree with a specialization

Some MiM applications provide a specialty that focuses on a particular function or industry. For example, take Esade Business School's Master in Management of Disruption, a program built exclusively for STEM graduates to enable them to drive disruption in firms utilizing technology.

Why should you pursue a Masters in Management?

Management degrees were designed primarily as a less expensive alternative to MBA (Master of Business Administration) degrees. They are sometimes seen as the forerunner to MBA (Master of Business Administration) degrees, giving introductory knowledge on entrepreneurship and leadership. So, why should you pursue a Master's in Management rather than an MBA?

There are numerous benefits to earning a master's degree in Management. For example, as part of the admissions process, you are not required to have years of work experience. In addition, students pursuing a MIM degree get a wealth of leadership and management skills through internships and practical experiences.

Several titles know MIMs depending on the university or college that offers the program and the specific curriculum offered, such as M.Sc. in Management, M.Sc. in International Business, Master in Business and Economics, M.Sc. in General Management, or M.Sc. in International Management.

What is the Eligibility to pursue Masters in Management?

The first and foremost requirement to be eligible for MiM is a bachelor's degree from a recognized university. In addition, you need to have completed a first-class degree before applying to MiM at any university. Some universities also accept diploma courses.

Check whether the institution requires applicants to have completed an undergraduate degree in a specific area, such as a bachelor's degree in business or economics. However, most MiM programs accept applicants from all academic backgrounds but make sure you meet the prerequisites stated by your selected business school.

Check whether the university you are applying to requires any professional experience. However, most universities do not require applicants to have professional experience. Some universities may require professional experience of 0-2 years.

The medium of instruction for most MiM programs is in English; therefore, applicants who are not native speakers of English are required to have proof of English language proficiency. In addition, they need to undertake TOEFL or IELTS and gain a particular grade/score to prove their proficiency. Some business schools accept other tests like Cambridge English.

Proficiency (CPE) and Cambridge English: Advanced (CAE), which some business schools accept, while others set their tests. However, be aware that the test scores are valid for a fixed time. For example, TOEFL scores are good for two years. So, make sure that when you are applying, your scores are valid.

You may be exempted from submitting language test results if you've already studied English. In this respect, you might only need to prove your English proficiency during an admission interview.

To apply to a Master in Management program, some universities require applicants to take the GMAT or GRE. There is no single set of guidelines for the scores you require in this case. Some schools accept a 500-point score, while others need 600-800 points.

Many institutions require a minimum of 600 points, with those seeking to qualify for merit-based scholarships expecting scores of 650 and above. A score of less than 600 does not mean that you would not get accepted; you may need to emphasize your other skills, such as solid undergraduate grades or remarkable extracurricular achievements.

Business schools typically want to see that you have a strategy to pay for your study, including tuition and living expenses. Therefore, students usually apply for a combination of savings, loans, and scholarships.

Career prospects after Masters in Management

According to an employment data report from 2020 mentioned on the HEC's website, the two largest areas that employ MiM degree holders are consulting (35%) and finance (26%). High technology, government and non-profit (5 percent), retail and luxuries (4 percent), and the rest (17 percent) are the following major industries.

MiM and MBA job candidates are viewed differently by employers. Companies need MBAs to fill specialized mid-level to senior jobs, while MiM graduates are sought for various roles—analysts, project leads, and managers. MiM graduates are attractive among recruiters because they are younger and more "moldable" and can quickly accept a company's corporate ideals. They can also learn quickly and take chances, and they are more globally mobile. They can also be more creative because they are younger.

Some of the popular job roles are-

Business development manager

If you have expertise in managing businesses and have a broad understanding of finance, marketing, business, and Management, working as a business consultant could fit you. They are in charge of bringing in new clients to increase the company's revenue. Their analytical and communication skills are helpful in their employment and in keeping excellent client relationships.

Project manager

Project managers get to work in various fields and industries, including healthcare, marketing, infrastructure, and information technology. They are in charge of completing the work promptly.

They must work under pressure and intense situations and effectively manage a team. In this role, their organizational and communication skills come in helpful. Aside from that, they must make sure that the projects are completed on time and within budget.

Social media manager

This is a critical area for any company these days, as it is one of the most effective marketing and communication sectors. Because you are the public face of your organization, this job carries a significant level of responsibility.

You should also know the use of various social media platforms to their total capacity and have a creative mentality to execute social media campaigns. You'll need a keen eye for designing a digital media marketing strategy.

To build applicable techniques, you must also have a solid understanding of various tools, such as Google Analytics and other tools.

What is the average salary of a MiM graduate?

The average yearly starting salary for students at the world's top 10 institutions was $78,000 (Imperial College Business School) to $113,000 (Imperial College Business School) (University of St Gallen).

Three months after the training, 88 and 100 percent of students were employed. According to the FT list, students from the IIMs-A, B, and C, as well as Udaipur and SPJIMR, received between $91,000 and $142,000, and all students were employed three months following their courses.

According to Payscale, MiM degree holders in the United States earn around $70,000 with less than a year of experience, $84,000 with five to nine years of experience, and increasingly more for senior professionals with more experience.

MiM degrees are beneficial after completing a bachelor's degree in engineering or physics. Internships are available at top companies for students. The workplace experience is priceless since it adds practical understanding to the theory taught in business schools.

What are the criteria for selecting a school?

This allows the applicant to study selective and high-quality courses, but it also prepares them for future careers at large corporations.

Therefore, when choosing a school to pursue a degree from, any applicant should consider the quality of education provided by the target universities, the courses taught, the faculty's experience, the student community, the clubs and extracurricular activities available to them, and, most importantly, the overall extent to which they have a scope of learning and professional development.

It is common knowledge that graduating from a prestigious top school opens many professional doors, with large corporations encouraging you to work for them. This is why school selection is essential in preparing you for success in your chosen industry.

It is an area that should not overlook and should pay more attention to. Shortlisting the best colleges that would be suitable targets to aspire for takes a lot of time and effort. We've made a list of the best institutions to pursue a MiM degree from to make things easier for you.

Various factors determine the ranking of Masters in Management universities. While selecting the best schools, multiple aspects of the schools listed below were considered. The following are some points to think about:

In these schools, there is a tuition cost.

These schools' post-MiM employment opportunities

The average pay received by graduates of these colleges

The school's location, for example.

These characteristics aid in identifying schools that meet all of the criteria given above.

Let's take a look at the top MiM schools to which one can apply:

London Business School
- When it comes to MiM, LBS is one of the most popular colleges. Since it was just launched 6-7 years ago, the MiM program at LBS has grown dramatically. In that time, it has risen to become one of the top ten business schools globally.

The LBS is well-known for its extensive alumni network and compact curriculum, making it an excellent choice for recent graduates wishing to apply to institutions with strong ties to large worldwide firms.

  • Duration- 12-16 months
  • Deadline- August 2022

Required Documents

  • Application form
  • Essays
  • GMAT/GRE Score
  • One-page CV
  • English Proficiency test
  • Copy of transcripts
  • Name and details of a referee

Core Courses offered

  • Applied microeconomics
  • Decision and risk analysis
  • Data analytics for Management
  • Business analytics
  • Finance
  • Financial accounting
  • Marketing
  • Performing in organizations
  • Strategy
  • Global Macroeconomics

Tuition fees for the Masters in Management 2022 intake are £39,200. Any program-related travel expenditures are not included in the fees. This provides you with the freedom to customize your student experience and prices. For example, depending on which place you choose for your Global Trip, you will pay variable travel and hotel fees.

In addition to tuition, students must pay a £135 Student Association Fee to cover the Student Association (SA) subscription, which allows them to engage in our lively community.

The University of ST. Gallen- In 2004, the University of St. Gallen began providing a Master of Arts in Strategy and International Management (SIM). Since 2011, the Financial Times has recognized the SIM program as the best MiM program for eight years. This 18-month program is designed for graduates with a BA in Economics or a comparable degree.

The SIM program places a heavy emphasis on academic research and practical experience. Students can interact with their professors due to the average class size of 50. SIM's management faculty includes award-winning literary academics and prominent lecturers in the field. In addition, their faculty consists of many industrial and academic guest lecturers and executives.

Furthermore, the global-focused curriculum, which includes the imagination Challenge and SIM International Projects, will help students build an international perspective by exposing them to different cultures.

  • Duration- 18 months
  • Deadline- April 30, 2022

Core courses

  • Research in Management
  • Strategic Management
  • Strategic leadership
  • Financial Management

Required documents

  • Application form
  • Essays
  • GMAT/GRE Score
  • One-page CV
  • English Proficiency test
  • Copy of transcripts
  • Video interview

The tuition fee for foreign nationals is CHF 3329 per semester.

- Since 2014, the HEC Paris Grande école Master in Management program has consistently placed second. It's an 18-month curriculum with an optional gap year following the first year to allow students to assess the industry they want to work in.

The Master of Management program at a Grande école allows students to customize the course to their own career goals. Finance, Strategy, Marketing, and other streams offer over 20 different specializations. The program has two phases: the Generalist Phase (Core Phase) and the Specialization Phase. The Generalist phase consists of the following:

Business Performance Management, Company Law, Corporate Finance, Strategy, Marketing, and other core management courses are available. Business, Digital Strategy, International Affairs, and Social Innovation are among the elective courses available.

Fact projects, consulting projects, live case studies, and conferences are examples of fact projects.

The Specialization Phase focuses on managerial specialties or earning an international double degree. In addition, a student can study for one semester at one of 20 partner universities as part of the Master Exchange Program.

  • Duration- 18 months
  • Deadline- June 8, 2022

Core courses

  • Corporate finance
  • Financial Accounting
  • Financial Economics
  • Strategic marketing
  • Leading organizations

The tuition fee for foreign nationals is 46,950 EUR.

Admitted students will be asked to confirm their seats within three weeks after receiving the final results, with a non-refundable deposit of € 5,000 deducted from their total tuition fees.

IE Business School- In just 40 years, the IE Business School has risen to become one of the world's best and most highly ranked MiM institutions. The school is well-known for its creativity in terms of the courses offered. It is ideal for aspiring entrepreneurs because it emphasizes working in groups and teams.

Net Impact Club, for example, provides a safe and encouraging environment for applicants to learn and network. Furthermore, Global Immersion Week is an ideal chance for applicants who have an entrepreneurial mindset. IE primarily targets young professionals with 0-2 years of work experience, giving fresh grads a fantastic opportunity to apply.

Duration- 1 year

Core courses

  • Economics
  • Finance
  • Marketing
  • Data analytics for decision making

The Master in Management tuition fee is 39,700€.

ESSEC- The MSc in Management at ESSEC Business School is a program with an effective apprenticeship program and a double degree collaboration. The student will spend one year on the French campus and the other on the Singapore campus, making ESSEC MiM an excellent option to combine east and west studies.

MiM students at ESSEC have unlimited freedom to design their curriculum based on their career goals. There are 47 specialties available in the program, including the following:

  • Finance and Economics
  • Entrepreneurship and Innovation
  • Managing Luxury Brands, Art & Culture
  • Digital Business
  • Health and Food
  • IT Data and Operations
  • Management
  • Public & Private Policy
  • Accounting & Management Control
  • Management & Society

All students must spend nine months abroad, either as part of an internship or as part of an academic partnership. ESSEC offers 17 double degree partners and 105 overseas exchange university programs. Students can strengthen their subject of specialization from the most significant institutions thanks to this comprehensive relationship with universities in 36 countries.

  • Duration- 2 years
  • Deadline- April 19, 2022

Tuition fee for non- Eu nationals- €43,200

- ESCP is the world's first business school, founded in 1819. The Europe Master in Management (Grande Ecole) program is ESCP Europe's flagship two-year program in which students can earn up to four foreign degrees without ever leaving the ESCP Europe campus. ESCP has campuses in Paris, London, Berlin, Madrid, Turin, and Warsaw, among other important European cities.

The ESCP MiM curriculum emphasizes hands-on learning. Core intercultural management subjects such as Corporate Finance, European Business Law and Taxation, Economics, Human Resource Management, International Marketing, Operations Management, Strategy, and other management courses are covered in the first year of study.

In addition, the student might choose one or two specialization themes in the second year, such as finance, marketing, entrepreneurship, strategy & consulting, innovation & digital.

An ESCP student will have completed ten months of work experience through apprenticeship or internship by the end of the program. If a student lacks experience, they must take a gap year and conduct internships as part of the curriculum.

To be admitted to the Master of Management program, you must meet three requirements:

  • Having earned a bachelor's or master's degree in any field
  • Fluency in the English language (level B2, advanced)
  • Being a globally-minded student with a track record of academic performance

Duration- 2 years

The fees for those entering the two-year program in September 2022 are set at €22,700

WHU- Otto Beisheim School of Management, ranked 7th in the Masters in Management rankings, is also known as WHU – Otto Beisheim School of Management (or WHU Vallendar). The school is considered one of the best in Germany for a MiM curriculum. WHU stands for Wissenschaftliche Hochschule für Unternehmensführung, which means "academic higher education institution for corporate management."

The 17-21 month program focuses on business administration topics and strives to reinforce all business foundations. The WHU curriculum guarantees that academic concepts are put into practice. It also features a mandatory internship component, which aids in getting valuable job experience, which helps explain why it is one of the best Masters in Management universities, with higher rankings.

  • Duration- 21 months
  • Deadline- May 31, 2022


  • A bachelor's degree with at least 180 ECTS
  • 12 weeks of relevant work experience
  • English Proficiency Test
  • International experience of about three months

Core courses

  • Accounting and finance
  • Data analytics
  • Economics
  • Marketing and sales
  • Strategy and leadership
  • Supply chain management

Tuition Fee- €26,900

ESADE- The Masters in Management program at ESADE aims to teach students about the importance and potential for corporate success in the following years. During their studies, students are required to choose one of three languages (German, Spanish, or French), which aids in the development of their profiles.

With its varied student body and teaching environment, ESADE educates its students to adapt to various cultures in a diverse working environment in their future careers.

Due to many applicants, students have a better chance of being chosen for positions in large corporations. In addition, students gain further exposure to foreign cultures through overseas internship opportunities and international study travels.

Duration- 10 months

- The CEMS is a well-known International Management program established in the 1980s. It is a post-graduate degree available to select individuals who have enrolled in the MiM program at one of the top colleges in the CEMS alliance of 30 business schools.

These schools are some of the greatest Master's in management schools globally, and they are ranked at the top of the list. The CEMS program has 70 corporate partners worldwide and is committed to offering the best management education.

Students must complete one internship term and two academic terms as part of the curriculum, with the literary periods remaining consecutive.

It also encourages students to spend two out of three terms abroad. Again, this is highly beneficial to students, as it increases their chances of being hired by global firms that are looking for diverse candidates.

The curriculum of CEMS MiM includes five courses, namely.

  • Internationalism
  • Business Embeddedness
  • Responsible Citizenship
  • Comprehensive Leadership
  • Reflective Critical Thinking

Deadline- June

Tuition Fee- €33,100

The University of Bocconi- MiM's program emphasizes economics, business, law, and research. It is most renowned for being a research university. It focuses on teaching future managers and academics from worldwide business and economics-related expertise.

They also seek to improve applicants' aptitude and analytical and problem-solving skills, which are necessary for working as a consultant, entrepreneur, or manager.

The program's core modules focus on improving interaction and teamwork skills. In addition, Bocconi offers joint double degree programs with ESADE in Barcelona, FGV-EAESP in So Paulo, the University of St.Gallen in Switzerland, IIMAhmedabad in India, the University of Queensland in Australia, Cass School of Business in London, and Darla Moore School of Business in the United States.

It also allows students to study two foreign languages, so it is deservedly regarded as one of the best universities for Master's degrees in Management.

  • Duration- 18 months
  • Deadline- June 9, 2022

Core course

  • Planning & Control
  • Leading People
  • Managerial Data Analysis
  • Managing Corporate Growth
  • Financial Planning


  • GPA of undergrad
  • CV
  • English proficiency

For 2022-23 a.y., for students enrolled in their first year in a Master of Science program, tuition and fees at Bocconi are set at € 14.340 per year.


For students, getting accepted into Master's in Management programs is a critical step. It's OK to feel apprehensive, but don't get caught up in overthinking your eligibility or finances. Here, we can assist you in locating the best MIM in the whole world. Request a free consultation with one of our study abroad specialists and receive a comprehensive profile evaluation and a university list tailored to your needs.

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