Master's in Management (MiM) degrees are increasingly popular, but they come at a cost. MiM courses at top-ranked schools tend to cost between $35,000 and $50,000, 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 your Master’s in Management salary could be.
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 $93,529.
The school with the highest salary is the Indian Institute of Management Ahmedabad at $132,446 This is an average salary increase of 36% for students, compared to what they earned before the MiM.
Across the board, MiM graduates see between a 21% and massive 109% increase in their earnings. As of 2021, the highest-earning MiM alumni from a European school are graduates from the University of St Gallen, whose average weighted salary sits at $123,999.
Elsewhere, graduates from ESSEC, Esade, and London Business Schools earn average salaries of $99,804, $96,122, $100,789.
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), 54% of employers are looking to hire MiM grads in 2021. Demand is at its highest in Europe, where 83% of employers plan to hire these graduates compared to 46% of companies in the US.
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, finance, healthcare, and technology industries, according to GMAC.
At HEC Paris, 35% of grads go into the consulting sector, 26% financial services, with technology, luxury, and consumer goods all represented too.
At London Business School, 44% of MiM grads enter consulting, according to school figures, with 14 of the most recent cohort joining Bain & Company, a further 14 joining BCG, and a further 12 starting work with McKinsey & Company.
Proving that it’s not just MBAs who start their own companies, 8% 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.