The Master’s in Management (MiM) degree is a good way to increase your salary and gain an edge over competitors in your first job search after college.
The MiM is a pre-experience program largely taken by those fresh out of undergraduate courses.
Each year since 2004, the Financial Times has ranked the world’s best MiMs, this year on metrics such as salary increase, career progress, and value for money. On Monday, the FT released its latest ranking of the world’s 95 best MiM degrees. Switzerland’s University of St Gallen retained its top spot, the seventh consecutive year its MA in Strategy and International Management has come first. HEC Paris is in second place for the fourth year on the trot, while Spain’s IE Business School rose four places to third.
St Gallen beat all other schools, thanks partly to strong scores for diversity —part of the ranking criteria. More than 90% of the school’s MiM students, and 80% of its faculty, are international. St Gallen is also ranked second for international mobility and international exposure. In addition, the school’s alumni have the third-highest salary — $114,449 — behind the Indian Institute of Management at Ahmedabad.
The FT ranking of 95 schools is up from 90 last year, including nine schools from seven countries, reflecting the growing global appeal of the MiM. The Frankfurt School of Finance and Management is the highest new entrant, at number 41. The Frankfurt course is among the most gender diverse, with women accounting for nearly half of the class.
Seven Asian institutions are ranked and a few are in North America, including Singapore Management University and the University of San Francisco. The bulk of the MiM degrees are in the UK and France.
The MiM is becoming more popular as it can be completed more quickly and at a cheaper cost than the MBA, the flagship b-school qualification. An MiM student can recoup tuition fees and living expenses within a year of graduation, according to the Graduate Management Admission Council. An MBA student on a two-year course would take over three years to get a return on their investment.
However, MBAs have higher salaries at graduation, as they have usually worked for a few years before beginning their degrees.