Master's in Management degrees are increasingly popular, but they come at a cost. MiM courses at top-ranked schools tend to cost between $35,000 and $45,000, around the same as a one-year MBA at some business schools.
An MiM is a significant investment, but the good news is that you can earn your money back, and then some, after graduation!
Read on to find out what salary you could earn after a Master’s In Management.
The highest Master's in Management salaries
According to the latest Financial Times rankings, the average ‘weighted salary’ (average salaries three years after graduation) for graduates for the top 20 MiM programs, is $93,035.
The school with the highest salary is the University of St Gallen in Switzerland, at $111,015. This is an average salary increase of 53% for students, compared to what they earned before the MiM. Across the board, MiM graduates see between a 35% and massive 124% increase in their earnings.
Outside Europe, the MiM program where graduates earn the most is Shanghai Jiao Tong University: Antai, where the weighted salary is $88,444.
Elsewhere, graduates from ESSEC, Esade, and London Business Schools earn average salaries of $99,967, $95,976, and $98,751 respectively.
Master's in Management Salary Top 20
Value to employers
The MiM is valued by employers, with schools recording high employment rates for graduates.
According to the Graduate Management Admission Council (GMAC), 67% of European employers were looking to hire MiM grads in 2019, compared with 33% of US employers. European employers tend to place a higher value on the MiM compared to the US, where the MBA remains the more default qualification.
Employment sectors for MiM graduates are diverse, with a strong focus on consulting. MiM hiring demand is strongest among companies in the consulting, products/services, and manufacturing industries, according to GMAC.
At HEC Paris, 37% of grads go into the consulting sector, 28% financial services, with technology, luxury, and consumer goods all represented too.
At London Business School, 45% of MiM grads enter consulting, according to school figures, with nine of the most recent cohort working for BCG and seven at McKinsey.
Proving that it’s not just MBAs who start their own companies, 10% of HEC grads also launch their own businesses after a Master’s in Management.
MiM vs MBA
Most Master's in Management programs are aimed at recent bachelor’s graduates with a maximum two years’ work or internship experience. Whereas MBA candidates tend to have between three-to-five years of work experience, MiM students are typically younger and at earlier stages in their professional careers.
The MiM course covers similar subject material to the MBA, with the main difference being that an MBA class brings more existing industry experience. The course remains most popular in Europe, with few top-ranked programs from outside Europe in the FT's list.
MiM programs offer a variety of career paths for graduates, with competitive salaries and a strong likelihood that, however much you pay for your MiM, you'll make a good return.