MIM or Masters in Management is a post-graduate degree that focuses on young professionals who wants to pursue a degree in Management abroad. MIM is majorly a European concept, which can often go by the name of MSc (Masters of Science in Management) or Masters in International Management. It is somewhat a new course in comparison to the traditional and old MBA concepts. Now if this doesn’t convince you we have put together a list of reasons to pursue MIM in the UK.
1. Minimal or no work experience necessary for admission
One of the greatest benefits a Master’s in Management provides is that it offers a way to enhance your business knowledge immediately after graduating with a Bachelor’s programme. Usually, the other business degrees require a work-ex of at least 3-5 years first. A lot of MIM programs do not have work experience requirements or expect a maximum of one year of previous employment. So one of the major reasons for pursuing masters in management can be having an early start for your corporate career.
2. Cost of the course for MIM in the UK
Perhaps one of the biggest reasons to opt for MIM is the cost of the course. MiM programmes in the UK are comparatively cheaper than MBA.
- At London Business School, the approx tuition for the MBA is £75,100 for a time period of 18, 21 or 24 months. Compare that to the cost of the MIM, which is £29,900 for one year. That’s a huge difference to be honest
- IE Business School located in Spain also shows a similarity in costs. Their international MBA costs €69,200 and the fees for the MIM program is €35,200.
- Similarly, a top MBA programme like the Cranfield MBA was priced at £39,000. Whereas, the MSc Management was priced at £26,000 for international students.
We know that tuition fees are not the only deciding factor when it comes to choosing a course however it can be an important one though.
3. Value of an MIM degree in the UK
MIM is a general management degree, but several B-schools allow students to specialize in certain fields, through double degrees or electives. This can make students more employable. According to Omid Ascari, managing director of St. Gallen’s MIM, “A specialization can then be reinforced by the choice of the mandatory internship students are required to accomplish during their study time.” Additionally, with some degrees, you are also made to learn a second language, which may be an exit requirement of the programme.
4. International recognition
MIM degrees used to be popular in Europe at first, but now it is doing well in Asia, Australia and Canada as well. This new liking for the fact can also be supported by the fact that most MIM degrees are offered in English. Thereafter, the application volume for MIM degrees has dramatically increased within these past years.
5. Electives and Specialization
B-schools like ESCP Europe Business School have 6 campuses in Europe. The college is known for its unique feature of allowing students to choose their preferred specializations on the campus they desire. This school offers many specializations in multiple languages as well. For example, the Paris campus of ESCP Europe teaches Finance specialization in both French and English. Such creative features of the Masters in Management program in different business schools make it even more attractive and feasible to access.
If you think you have it within yourself to step out and pursue MiM in the UK then visit us at Foreign Admits for any assistance you need for fulfilling your dream to go to the UK