Masters in Management (MiM) degrees are some of the most popular business masters, 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.
A 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 after graduation.
Top Masters in Management salaries
According to the latest Financial Times rankings, the average ‘weighted salary’ (average salaries three years after graduation) for graduates from the top 20 MiM programs worldwide is $111,584.
The school with the highest salary is the Indian Institute of Management Bangalore at $144,178. This is an average salary increase of 36% for students, compared with what they earned before the MiM.
Across the top 100 programs ranked by the FT, MiM graduates see between a 21% and massive 112% increase in their earnings. As of 2022, the highest-earning MiM alumni from schools in Europe are graduates from the top-ranked University of St Gallen, whose average weighted salary sits at $138,091.
At Germany's WHU Otto Beisheim School Of Management, graduates earn on average $118,385. At HEC Paris, graduates earn an average salary of $118,999 after three years.
Elsewhere, graduates from ESMT Berlin, ESADE , and London Business School earn average salaries of $97,462, $97,485, $103,489.
* weighted salary = average salaries three years after graduation
Value to employers
MiMs are valuable to employers—schools typically report high employment rates for their MiM graduates.
According to the Graduate Management Admission Council (GMAC), 88% of employers have plans to hire MiM grads in 2022, up from 79% in 2021. Demand is at its highest in East and Southeast Asia, where 97% of employers plan to hire these graduates compared with 53% of companies in the US. A further 87% of European employers intend to hire MiM graduates.
European employers tend to place a higher value on the MiM compared to the US, where the MBA remains the more popular degree.
Employment sectors for MiM graduates are diverse, with a strong focus on consulting. MiM hiring demand is strongest among companies in the management, strategy and innovation, research, and consulting industries, according to GMAC.
At HEC Paris, which offers one of the world's top MiMs, 35% of grads go into the consulting sector, 26% financial services, with technology, luxury, and government & non profit work all represented too.
At London Business School, a leading UK-based institution, 45% of MiM grads enter consulting, according to school figures. A many as 15 of the most recent cohort joined the MBB consulting firm, Bain & Company, while a further 15 started work with McKinsey & Company, also a member of the Big Three.
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.
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MiM vs MBA
Most Masters in Management are aimed at recent bachelor’s graduates with a maximum of two years of 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 curriculum 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.
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