MIM (Masters in Management) in Abroad

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Meridean Overseas
Meridean Overseas

Updated On 03 January 2024 & Read Time 11 minutes

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Masters in Management is highly popular and ideal for marketing, accounting, or finance students. Masters in management courses were originally quite famous in European countries, but now they are undertaken by students from across the globe.

 

MIM in Abroad countries opens the door to a myriad of prospects. Yet, in order to secure admission to top-notch universities, you might have to go through strict competition and tricky application processes.

 

Today, we will explore the complete details of Masters in Management in Abroad universities. Here, we have covered course structure, eligibility, top universities, scholarships, and more.

 

Basic Understanding of Masters in Management Courses

MIM full form is a Masters in Management. It’s a postgraduation course for one or two years, depending on the university and the host country. When you possess skills like time management, leadership qualities, multitasking skills, teamwork, problem-solving abilities, and adaptability to change, you can go ahead on your path to the MIM course.

 

Pursuing this MIM course will open doors to entry-level business management roles, which demand specialised knowledge. So, even if you have little or no experience, MIM in Abroad universities provides you with an appealing alternative to an MBA degree. Below are some points for why study MIM:

  • Diverse Specializations: MIM covers marketing, finance, and entrepreneurship.

  • Top-Rated Colleges: HEC Paris, ESADE-Spain, and others offer elite MIM programs.

  • Professional Qualification: MIM imparts versatile management knowledge.

  • Career Opportunities: Graduates secure high-paying roles like Risk Manager and Financial Analyst.

 

MIM Course Structure

Before you apply at MIM in Abroad, you should clearly understand its significant components like the duration of the course, core courses, and other required details.

 

Here are the points below for the basic understanding of Masters in Management in Abroad:

  • Duration: The MIM course is a 1.5 - 2-year program focusing on data-driven decisions in business.

  • Core Courses: Strategic Management, Economics, Risk Analysis, and Marketing are key components of the MIM curriculum.

  • Core Subjects: Accounting, Commercial Law, Corporate Public Relations, Finance for Corporations, Economics, Entrepreneurship, Ethical Decision-Making, Human Resource Administration, and Information Technology.

  • Specialisations: International Trade, Sustainability, Marketing Creativity Management, Quantitative Finance, and Business Advisory.

 

Top MIM Universities & Colleges Abroad

Now that you have a good knowledge of MIM in Abroad, you must also look into some great universities to advance your career path. The idea behind choosing the right university is quite bewildering, with an abundance of universities offering Masters in Management Courses overseas.

 

Look at the table below, which compiled top universities offering a unique blend of academic excellence, global exposure, and career opportunities.

University

Course

QS Business Master's Rankings 2024: Management

HEC Paris School of Management

MSc Strategic Management

1

ESSEC, France

Master in Strategy & Management of International Business

2

London Business School, UK

Masters in Management

3

IE Business School 

Master in Management 

4

INSEAD

Master in Management

5

ESCP Europe

Master in Management

6

ESADE/UVA McIntire/Lingnan

MSc in Global Strategic Management

7

Esade Business School

MSc in International Management

8

Copenhagen Business School

MSc in Economics and Business Administration

9

WU Vienna

Strategy, Innovation, and Management Control

10 

MIM Course Fees

Now that you have a complete understanding of the universities for the MIM course, you should also look for MIM course fees for your better decision-making. Europe has affordable Masters in Management Courses compared to Australia or North America. MIM fees depend on various other factors like quality of education, living expenses, and ROI.

MIM in the USA

University

Course Duration

Tuition fee (Approx) (for 1st year)

Kent State University

1 year

INR 20.8 Lakh

Texas A & M University

2 years

INR 16.3 Lakh

University of Cincinnati

1 year

INR 20.2 Lakh

MIM in Germany

University

Course Duration

Tuition fee (Approx) (for 1st year)

Munich Business School

18 Months

INR 13.5 Lakh

Jacobs University

2 years

INR 16.9 Lakh

CBS International Business School

2 years

INR 12.7 Lakh

MIM in Australia

University

Course Duration

Tuition fee (Approx) (for 1st year)

The University of Melbourne

2 years

INR 21.6 Lakh

The University of Sydney

1.15 years

INR 21.3 Lakh

RMIT University

2 years

INR 14.6 Lakh

MIM in Norway

University

Course Duration

Tuition fee (Approx) (for 1st year)

Norwegian School of Economics

2 years

0

Norwegian University of Science and Technology (NTNU)

2 years

0

MIM Course Fees:

Tuition fees for top MIM colleges worldwide range from INR 12,00,000 to INR 20,00,000 per year, varying based on the chosen country and academic institution. In addition to MIM fees, consider expenses for lodging, meals, transportation, etc. educational and living costs vary by country.  

 

MIM Course Eligibility & Admission Requirements

When you are applying to the well-known universities for MIM in abroad, you must be familiar with the general qualifying requirements as well as the documents required for your admissions abroad. Here, let’s go through MIM course eligibility as well as the admission requirements for the top MIM colleges in the world.

  • Bachelor’s Degree Certificate - To pursue a Masters in Management in Abroad, a relevant bachelor's degree is required, and eligibility often requires a minimum grade of 60%.

 

  • English Language Requirements - When you seek MIM Course qualification, you must submit English proficiency TRFs. Top-notch institutions in foreign countries accept varied band scores, including IELTS (7.5), TOEFL (90), and PTE (67).

 

  • GRE/GMAT Scores - Enrollment in prominent universities in English countries typically requires a GRE or GMAT score. The specific score requirements may vary from university to university, but a general score requirement is

GRE: 300 to 350

GMAT: 650 or higher

 

  • Work Experience - Enrollment in top universities overseas often prefers you with 2-3 years of work experience, as it enhances a clearer understanding of management concepts.

 

  • Passport and Visa - After applying for admission, you must give information on your passport and student visa. Therefore, applying for a student visa well before the planned travel date is crucial.

 

Required Documents

Now that you have a good knowledge of MIM course eligibility, you must also learn some additional documents required to apply to the topmost universities worldwide. You must submit your documents and apply to the best Masters in Management Courses globally.

  1. Translated reports and transcripts from previous institutions

  2. Standardised test scorecards

  3. English Language Test reports

  4. Statement of Purpose

  5. Letters of Recommendation

  6. Proof of finances

  7. Updated Resume/CV

  8. Copy of Passport and Visa

  9. Study Permit

  10. Passport-size Photographs

 

Application Process

  • Complete Bachelor's Program: You need to finish your bachelor's degree first to ensure eligibility for Masters in Management Courses.

  • Course Acceptance Check: You must confirm if your field of study aligns with the requirements.

  • University Selection: You have to choose between preferred universities offering Masters in Management Courses.

  • Professional Experience Check: You are required to show if professional experience is required or if a bachelor's degree suffices.

  • English Language Proficiency: You must take the required English language proficiency exams.

  • GMAT or GRE: You should check if GMAT or GRE scores are necessary for your chosen programs.

  • Finances Arrangement: You need to prepare for financial requirements during your MIM studies abroad. 

 

Top Scholarships of MIM in Abroad

Several universities offer diverse scholarships for Masters in Management Courses to those students wishing to pursue it in foreign countries. So, below, we have mentioned some scholarship details on scholarships for MIM in Abroad universities, along with eligibility requirements and benefits.

 

MIM Merit Scholarship at London Business School, UK

  • Eligibility Criteria:

    • International students with strong academic results.

    • Completion of visa procedures and required tests.

  • Amount: Multiple awards, approximately INR 7,25,264.

 

HEC Foundation Excellence Scholarships, France

  • Eligibility Criteria:

    • Academic excellence and overall strength.

    • Successful completion of the interview.

  • Amount: Allowance of INR 95,254.

 

The Eiffel Excellence Scholarship, France

  • Eligibility Criteria:

    • International students under 30 years old.

    • Enrollment in an eligible MIM course, meeting scholarship requirements.

  • Amount: INR 1,11,884 per month

 

Scope of MIM in Abroad

MIM Course mainly focuses on management basics, encompassing accounting, finance, marketing, strategy and organisation, HRM, operations and IT management. MIM in Abroad is tailored for engineering or science students who want to study for a more advanced level by getting specialised training in management practices.

 

The work prospects after pursuing a Masters in Management in Abroad universities are plentiful as this field of study is relatively new. Henceforth, you will quickly get entry-level jobs after this degree when you have little or no experience.

 

Types of Jobs after MIM Course

Here, we are about to explain to you some profound job roles for MIM graduates. Take a look:

  1. Business Development Manager - Working as a business consultant may be a good fit for you if you are into finance, marketing, business, and management. Or you must be in charge of expanding the firm by bringing in new customers. So, your communication and analytical skills are helpful in your job and in keeping great customer relationships.

 

  1. Digital/Social Media Manager - As a Digital/Social Media manager, you're vital for organisational marketing. Your role demands accountability as the face of the organisation globally. Proficiency in diverse social media platforms, creative campaign execution, strategic planning, and solid knowledge of analytics tools is essential.

 

  1. Project Manager - Project managers can work in any discipline or industry, from healthcare to marketing to infrastructure or information technology. They are in charge of completing jobs under strict deadlines. They must be able to operate under pressure and in tight conditions, as well as manage the team successfully. Their communication and organisational abilities come in handy in this profession. Aside from that, they must ensure that the projects are done on schedule and within the budget.

 

Job Prospects

Now you know about lucrative job roles after graduating from MIM in Abroad, let us look at job options and how much you can earn from those. So, look at the table below.

Job Titles

Average Salary Per Year 

Risk Manager

USD 60000 (INR 47,94,870)

Financial Risk Analyst 

USD 85000 ( INR 67,92,732)

Social Media Manager       

USD 11,5000 (INR 91,92,369)

Investment Analyst 

USD 88000 (INR 70,34161)

Management Consultants  

USD 60000 (INR 47,95683) 

Conclusion

To conclude, pursuing a Masters in Management in Abroad offers a gateway to diverse specialisations, top-rated universities, and promising career opportunities. The comprehensive blog above covers crucial aspects such as course structure, eligibility, top universities, fees, and job prospects. With a focus on skill development, MIM in Abroad provides a valuable alternative for entry-level roles in business management.

 

We wish you luck and hope you had a fantastic time learning to study the MIM course and other relevant things. If you’d like to know more about how to study MIM in Abroad, contact our expert counsellors at any branch of Meridean Overseas Education Consultants (MOEC), who’ll help you in every step of your study abroad journey. Visit our website for free online counselling, or contact us at application02@meridean.org or 1800-1230-00011 for personalised support.

 

FAQs

Q. Why Should I Study MIM in Abroad Countries?

Ans. MIM in Abroad is highly beneficial for international students who are in the business management stream. Also, the Masters in Management Courses in European countries are incredibly popular and widely accepted. Therefore, it will prepare you for professional life, where you will get invaluable experience, giving you practical knowledge.

 

Q. Can I study MIM abroad for free?

Ans. Studying MIM in Abroad itself is affordable in comparison to an MBA. Many such universities provide similar programs, and by choosing a state-funded university, you will get a scholarship and need not to pay for educational costs.

 

Q. What is the duration of the entire course?

Ans. When compared with costly MBA programs, the course duration of most Masters in Management Courses is relatively less. The majority of courses of MIM in Abroad are just one or two years long.

 

Q. Is it profitable to pursue MIM in today's world?

Ans. MIMs are one of many choices for people interested in management or business courses. An MBA, on the other hand, is intended for professionals with job experience, but a recent graduate can undertake a MIM. In addition, the MIM degree is less expensive than an MBA, and the course period is shorter. Looking at the big picture, the MIM course is worth your time and money because it is a fantastic career option for those who wish to work in management or a business-related sector.

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