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All you need to know about the MSc in Management

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All you need to know about the MSc in Management [#permalink] New post 07 Jan 2010, 01:58
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The objective of this post is to gather all the relevant information regarding the program. Collaboration from the community is encouraged and welcome. In construction

    Contents
  • What is the MSc in Management?
  • MSc in Management versus MBA
  • Top Schools by Location
  • What is the CEMS program?
  • What can I expect after the Msc in Management?
...........................................................

What is the MSc in Management?
The MSc in Management is a Master in Science academic degree primarily taught in European countries, but increasingly being taught in other countries as well. The program is similar to an MBA, but requires no work experience. This means the MSc in Management is more focused in theory, while the MBA is more focused on practice. The popularity of this program is growing fast, because it is suited for any background and normally has a deep impact in the participant's career.
Not all MSc in Management are the same, there are universities where the program lasts 2 years and others where it lasts a single year. Normally, the 2-year program is for students with non-business backgrounds such as arts, science or technology; while the 1-year program is for students from business, finance or marketing areas. There are universities that offer the 2 programs such as the Erasmus University in Rotterdam, or the London School of Economics and Political Science; other universities only offer the 1-year program for graduates in business-related areas, for instance, ESADE from Barcelona. A few exceptions such as London Business School offer a 1-year program for non-business graduates. The program is mainly taught in English, with a few exceptions like the Manheim Business School master, which is taught in German.
The admission normally requires taking the GMAT, although some universities accept the GRE exam, and others have their own admission exams. As stated in the beginning, the program is open for students without relevant experience, which is the main feature of the master. The application process is similar to that of the MBA, schools usually require a GMAT score, a proof of English proficiency if needed, at least 2 references and a bunch of essays (sometimes a single letter of motivation). Thus, it is recommendable to plan the application with enough time.

Typical denominations: MSc in Management, MSc in International Business, MSc in International Management, MSc in Business and Economics, Master in Business Engineering.

MSc in Management versus Master in Business Administration
MiMMBA
Designed for Recent Graduates with no work experienceDesigned for Applicants with minimum 2-3 years of relevant work experience
Theory oriented*Practice oriented
Suited for managerial roles in any industry, usually in lower positions than those of the MBA graduates, and PhD in programmes.Suited for managerial roles in any industry and normally DBA program, although also PhD
Originated in EuropeOriginated in the US

* This doesn't mean that the MSc in Management is only a preparation for a PhD in Management Science. The distinction with the MBA is obvious because none of the participants is supposed to have work experience. Nonetheless, a MSc in Management is perfectly suited for people who want to work immediately after graduation.

Top schools by location

What is the CEMS program?
"CEMS is a strategic alliance of leading business schools and multinational companies. Its first mission is to set a global standard of excellence for pre-experience Master’s in management."
In order to apply for the CEMS Master in Management you need to be enrolled in a school of the CEMS Network. In the first months, students take the courses of the program from their home university. Afterwards, students have to do a thesis project along with an Internship that must take place in a different country than that of the home institution. Finally, the last 3-4 months students make an international exchange to another school of the CEMS Network, where they will do a business project in a multicultural team. The CEMS program is opened only for students with business-related backgrounds. Note that the CEMS program is ranked the 1st in the FT rankings for Masters in Management.

What can I expect after the Msc in Management?
This master degree prepares you for a career in consulting, finance, economics, marketing, accounting or management in any industry. The salaries after a 3-year period vary from 32000 to 72000$.

Summary of the Placement Report from Stockholm School of Economics
  • The main destination industries for 2009 were: Investment Banking (22%), Management Consulting (20%), Finance, Banking (14%), Consummer Products (12%), Other Consulting (5%), PR, Marketing, Advertising (5%), Media, Culture (4%) Accounting / Audit (3%).
  • 42% of students found their job more than 6 months prior to graduation, 46% of students found their job between 6 months and graduation time. So 88% of the students had a job upon graduation.
  • Jobs in IB vary from 60 to 80 hours a week, while consulting jobs vary from 55 to 65 hours a week. The industries with less hours per week are PR/Advertising, Media, Culture and Accounting with 40-45 hours a week.
  • If you wish, take a look to the entire Stockholm School of Economics' Placement Report 2009

Summary of the Career Destinations from Manchester Business School
  • Sectors: Consulting (17%), Financial Services (16%), Manufacturing (9%), Technology (7%), Consumer Products (7%).
  • Job Functions: General Management (27%), Finance/Accounting (18%), Marketing/Sales (18%), Consulting (16%).
  • If you wish, take a look to the entire Career Destinations 2008 Report from Manchester Business School

Employment Facts & Figures from HEC Paris
  • 98% of students found a job prior to graduation and the average salary was 58000$.
  • Sectors: Consulting (37%), Finance (23%), High Technology (8%), Consumer Goods and Food (7%), Industry and utilities (6%)…
  • Top recruiting companies: A.T Kearney, Deloitte, Barclays, Google, Goldman Sachs, l’Oreal, LVMH, Mc Kinsey & Company...
  • If you wish, visit the entire Employment Facts and Figures from HEC Paris


...........................................................

References
Wikipedia - http://en.wikipedia.org/wiki/Master_of_ ... Management
Financial Times - http://www.ft.com/cms/s/2/94251a9a-a70f ... abdc0.html
Financial Times Rankings - http://rankings.ft.com/businessschoolra ... management
About CEMS - http://www.cems.org/general/about/strat ... liance.php

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Re: All you need to know about the MSc in Management [#permalink] New post 05 Mar 2012, 06:20
HI I am an international student from India for ESCP - Paris Master in Management (english), got through with 50% scholarship for September-2012 intake. I have an experience of 1 yr in tech consulting. Can some one give details of present situation of placements , companies , profile , salary etc .... i heard there is disadvantage for intnl students in terms of getting placed..can some one explain if its true or not ? in general is it worth giving 3 years time to this degree.... Thanks for replying.
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Re: All you need to know about the MSc in Management [#permalink] New post 10 Jul 2012, 09:17
Hi All,
I am very much keen on doing an MSC in Mgmt in France/Spain/Swiss (Cos i've heard those are the top places to do an msc in mgmt in europe) .

I want to know what are the career prospectives. Ive heard for intl students (im from India) the job opportunities in UK is null(zero).

So I would like to know how it is in France/Spain or any other european nations.?
I would be grateful to whoever replies. :)

Thanks In Advance,
Rohit
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Re: All you need to know about the MSc in Management [#permalink] New post 10 Jul 2012, 10:58
Only France is. I've never heard of anyone going for Msc Management in Spain unless it's IE or ESADE.

Language skills are more important than you think in continental Europe. So unless you speak French, Spanish or German you have very weak career prospects in France, Spain and Switzerland. Goes without saying the economy and graduate unemployment rate in EU is unfavourable.


rohitrohitgeorge wrote:
Hi All,
I am very much keen on doing an MSC in Mgmt in France/Spain/Swiss (Cos i've heard those are the top places to do an msc in mgmt in europe) .

I want to know what are the career prospectives. Ive heard for intl students (im from India) the job opportunities in UK is null(zero).

So I would like to know how it is in France/Spain or any other european nations.?
I would be grateful to whoever replies. :)

Thanks In Advance,
Rohit
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Re: All you need to know about the MSc in Management [#permalink] New post 17 Jul 2012, 02:42
Awesome thread, just what I was looking for; Thanks!
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Re: All you need to know about the MSc in Management [#permalink] New post 25 Nov 2012, 03:18
Hy guys

Many thanks for your post Saruba it helps me a lot ! :-D

I am currently applying for both LSE "Management and Strategy" and HEC "Strategic Management" one year MSc. I would like to start my career in a strategic consulting firm. I have difficulties to make up my mind between those two schools. What would be your advises guys ? :roll:

I am aware that HEC is a business school, according to them "the best business school in Europe" do you agree :roll: ?, and LSE is a university (more courses in HEC, deeper linked to companies and business world), that you have to fulfill an internship for HEC and not for LSE, which is in my opinion a really good thing. The annual registration fees are slightly different as well (LSE a bit more expensive+ accommodation fee in London). Eventually, as far as I know, LSE is more reputed than HEC (am I right ?).

Nonetheless, as I am French, I believe that I would take more advantage for spending one year in London than in Paris, for my English skills, my CV and my personal development.

As for my background I will graduate in 2013 for a top-tier French engineering school (sorry we don't use GPA so I don't know mine). I have 13 months of professional experience including 7 abroad as I have taken a gap year, and I am spending my last year of study in Glasgow.

What are your thoughts guys ? Many thanks in advance for your help :-D
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Re: All you need to know about the MSc in Management [#permalink] New post 22 Dec 2012, 16:13
Thanks for this thread it is what I was looking for.
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Re: All you need to know about the MSc in Management [#permalink] New post 07 Jan 2013, 13:02
Both schools post their recruitment statistics. Have you taken a look at those to see if your target firms recruit at each school?

Both are excellent schools. I really like what I hear about HEC.
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Re: All you need to know about the MSc in Management [#permalink] New post 29 Jul 2013, 07:11
So suppose I learn the language and in a scale of 1-10 (10 being the best) and i my french knowledge is somwhere around 3-4 .
what are the job prospects.
and are there jobs for good candidates from India ? or is it just that there are simple no jobs for people from outside europe ??


foars wrote:
Only France is. I've never heard of anyone going for Msc Management in Spain unless it's IE or ESADE.

Language skills are more important than you think in continental Europe. So unless you speak French, Spanish or German you have very weak career prospects in France, Spain and Switzerland. Goes without saying the economy and graduate unemployment rate in EU is unfavourable.


rohitrohitgeorge wrote:
Hi All,
I am very much keen on doing an MSC in Mgmt in France/Spain/Swiss (Cos i've heard those are the top places to do an msc in mgmt in europe) .

I want to know what are the career prospectives. Ive heard for intl students (im from India) the job opportunities in UK is null(zero).

So I would like to know how it is in France/Spain or any other european nations.?
I would be grateful to whoever replies. :)

Thanks In Advance,
Rohit
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Re: All you need to know about the MSc in Management [#permalink] New post 29 Aug 2013, 08:18
Hi All,
I have completed my engineering from Mumbai University with 66% aggregate.
While it might seem low compared to other students percentages,a percentage of 60+ in Engineering in Mumbai or Pune university is considered excellent.
How will my application be affected due to this and does the fact that im from Mumbai university prove a disadvantage for me?
I'm really nervous because it'd be really sad if after getting a good percentage in engineering my applications aren't considered good enough because the university gives out lesser percentages.
If possible can anyone guide me as to who to contact to clarify this doubt?

Awaiting your response anxiously.

Thanks and regards,
Aditya.
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Re: All you need to know about the MSc in Management [#permalink] New post 13 Dec 2013, 06:17
Hi All,

I am looking to pursue Master in International Management for the 2014 intake.
My possible options are as follows -

Country
France
Spain

Duration
2 years
1 year

Other parameters that i am looking at
Placements
Starting salaries
Financial Options

I have already got an offer from ESADE, Barcelona.

My dilemma here is that i was more interested in pursuing my course in France (HEC or ESCP) but have to confirm the ESADE offer before the results of either HEC or ESCP are even out.

Looking for advise as to what would be the best course of action and if its worth the risk to let go ESADE and try for HEC/ESCP. College wise, ESADE fits right into my career goals.

Any advice would be much appreciated.

Thanks.
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Re: All you need to know about the MSc in Management [#permalink] New post 08 Jul 2014, 22:07
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Hi guys,
I am a Indian student, currently pursuing Bachelors of architecture,I am also Pursuing BBA(Bachelors in business administration)(120 credits) in part-time mode I intend to apply for Masters program in Business administration .can u give me a realistic idea if i stand a chance in top EU schools like HEC, ESSEC,ESADE,IE,SSE and so on, and how much should i aim for GMAT ,so that i stand a chance to get into this top schools.

1.I really don't have great marks, on an aggregate consider 62 percentage.
2.However i have worked as a business development intern for 2 years at a real estate portal(internship)
3.Learnt B2 level of french
3.GMAT not yet given.

I just need to know an estimate, i still have 2 years to complete my Bachelors degree and work on a lot on my GMAT, I just want to be realistic in my expectations, and do necessary things to improve my profile.

Thank you !!
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Re: All you need to know about the MSc in Management [#permalink] New post 07 Feb 2015, 09:21
San3536 wrote:
HI I am an international student from India for ESCP - Paris Master in Management (english), got through with 50% scholarship for September-2012 intake. I have an experience of 1 yr in tech consulting. Can some one give details of present situation of placements , companies , profile , salary etc .... i heard there is disadvantage for intnl students in terms of getting placed..can some one explain if its true or not ? in general is it worth giving 3 years time to this degree.... Thanks for replying.


Could you please tell me more about the program?
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Re: All you need to know about the MSc in Management [#permalink] New post 18 Feb 2015, 06:59
Hi people, I have two main questions and I really appreciate your opinions! Many thanks in advance.

Does it matter where you take your CEMS? For instance, is a CEMS from HEC Paris stronger than a CEMS from SSE?
Which B-School has the highest value for money and highest starting salary as a MiM/CEMS graduate.
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Re: All you need to know about the MSc in Management [#permalink] New post 08 May 2015, 04:46

Masters in Management / MSc in Management courses – Top Schools



Masters in Management programs are excellent alternatives to an MBA for people who wish to gain management education right after their bachelor’s. These programs are designed for applicants with little or no work experience, and offer participants the chance to gain strong business education, business exposure, and leadership skills right at the onset of their career. The value proposition of the programs is strong, and most applicants will end up on a fast-track career growth trajectory, much like that of graduates from top MBA programs. The Masters in Management program is still almost exclusively a non-U.S. phenomenon, with the best programs in Europe, Canada, and Asia.

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All you need to know about the MSc in Management [#permalink] New post 14 Jun 2015, 07:34
Well most of the questions here can be answered clearly, by defining the boundaries between MiM and MBA, i have tried to do that in the next few lines, hope it is useful

So what is the MiM??
The MiM or Masters in Management is a premium post-graduate degree targeted towards individuals who have just completed graduation or are young professionals. It is a degree providing comprehensive knowledge about varied management streams such as Finance, Marketing, Consulting, Entrepreneurship among many others, and as per our personal experience is an amazing degree especially if you want to switch streams early in life, or want to make forays in the management field.
The MiM is a relatively new phenomena compared to the old and tested MBA concept, but this in no way undermines its importance as a first class degree, with well known colleges such as London Business School, HEC Paris, ESCP Europe, London School of Economics, Duke Faqua School and Bocconi offering it as Flagship degrees , the MiM is here to stay and will soon be a real force to contend with on a global scale. Though it is majorly a European phenomena, colleges in the USA have also started taking notice with many well ranked colleges such as Duke Fuqua, HULT and Thunderbird offering their own versions of the MiM often naming it as Masters in Science in Management (Msc) or Masters in international Management.
The Masters in Management degree's may vary from anywhere between 10 months to two years, depending on the college you apply to and they usually offer a comprehensive array of electives so you can tailor your course to follow the subjects you love.

So how is the MBA different from the MiM ??
The difference between the two can be explained along a number of fronts, we will try to explain the MBA vs MiM battle in the next few lines:

Popularity (Old & Respected vs New & Upcoming)
The MBA is an old and respected name in the field of business studies and has an excellent brand recognition with several well known colleges offering the degree in various variations.
The MiM on the other hand can be regarded as the new kid on the block, though it has been around for over 20 years now, it was a relatively unknown European phenomena but now is being recognized by countries all over the world, with more and more universities offering the degree. Needless to say with colleges such as Duke Fuqua, LBS, LSE & Bocconi offering the MiM as flagship courses, we can safely assume it has an excellent future.

The Target Audience (Seasoned professionals vs Young professional & Graduates)
The MBA requires its students to pass through very stringent criteria's such as having a certain amount of work experience, lots of professional achievements, academic distinctions etc and though this improves the quality of the customers of the MBA, it also leaves a lot of young smart people disgruntled because now they will have to work and accumulate many years of experience before they are eligible to apply for the MBA. The MiM sensed an opportunity here, the degree realizes the importance of work experience, but does not think that it should be such a major deciding factor in the admission criteria, especially when there are a lot of young ambitious students who do not prefer to take this long wait. Keeping this in mind, the MiM can be described as a degree more suited to the 21st century youngsters which borrows from the core principles of the MBA and targets these young, smart, ambitious people.
So, while the MBA is targeting the experienced class of people having 3 or more years of work experience on average , the MiM is meant for fresh graduates or people having less than 3 years of work ex, who want to have a fast track career growth plan.

No. of colleges offering the degree (Global Phenomena vs European identity)
Well it is no surprise that there are literally thousands of colleges offering MBA degrees, we all know by heart the names of the Top 10 IVY degree MBA schools. Schools like Havard, Stanfard, HEC, LBS, LSE are brands in their own right and anyone would kill to get an admit into these top schools. Since a long time the MBA was the only mainstream degree these colleges offered, but they have not been oblivious to the winds of change blowing in favour for a degree suited to young professionals. As the MiM is gaining popularity many schools have taken notice and adopted the degree in their offerings portfolio, this was especially the case in European schools such as HEC , ESCP, ESSEC which were quick to adopt the Masters in Management and also make it one of its flagship products, some of them have been offering it for over a decade now and hence have a very rich curriculum and recognition as a top MiM school. Well known colleges such as IE, LBS and LSE also recognized the potential of the MiM and have been offering it for the past 6-7 years, giving high quality education via it. The US brands are still staunch supporters of the MBA and though some offer their own versions of MiM such as Havards 2+2 program and YALE's young scholar program, it is not Masters in Management in the true sense. Though in recent years famous colleges such as Duke Fuqua and HULT have started offering the MiM and are attracting a huge number of students from all over the world because of it.

International Recognition (Well Known vs Gaining Respect)
In recent years the MiM is gathering momentum as an internationally recognized degree and is already seen as a very attractive alternative to the MBA, with the number of students enrolling in it increasing year by year. The MBA has a long standing reputation and is a very popular degree, instantly recognizable in any sector. MiM on the other hand is still fighting to be internationally recognized, and MiM students may have to give a formal introduction about what their degree is all about, especially if they are targeting a job outside Europe. But as the number of students is increasing year per year, alumni network is getting increasingly diverse with graduates penetrating all areas of society the time is not far when the name MiM will register the same recognition and respect that is associated with the MBA. Additionally as MiM colleges are making partnerships with universities all over the world the MiM name is gaining a formidable reputation. For people who want to build a career in Europe or want a few years of work experience before returning to their home countries, MiM is an excellent degree as it has a huge name and reach in all European countries, especially U.K, France, Germany and Italy.

Job placements (Mid-High level jobs vs Entry-Mid level jobs)
The MBA due to its rich and illustrious history &is known for its high quality education system, hence it has strong relations with big companies and these companies tend to strongly favor MBA students. This placement system of the MBA is a very strong reason why it is pursued by a lot of people. Also MBA graduates are an experienced lot and hence demand mid to high level positions with a good pay, these jobs are relatively in low quantities Here the MiM has a slight advantage as the fresh young MiM graduates are talented individuals ,with more or less the same training, who are just entering the job market and hence can be picked up for entry or intermediate level jobs, which a company has a much higher number of. Plus companies tend to favor such hires as they are young and fresh in the market, and can be molded according to the companies value systems.

Reception by companies (Very High vs High)
Statistics show that MiM awareness is growing at a rapid pace among HR departments, and they are recognizing the MiM as a degree whose holders tend to be high caliber future managers and hence more and more recruitments at very good packages are happening from top MiM schools. Top firms of the world are looking at the Masters in Management as a source to attain high quality individuals & groom them for future upper management roles. Big names from every industry such as BCG, Mc Kinsey or Strategy& in Consulting, L' Oreal , LVMH, P&G in Marketing to BNP Paribas, KPMG in Finance are preferring MiM graduates because of the multi-disciplinary skills they attain during their course. In this way the MiM is offering heavy competition to MBA graduates, as these MiM students are developed to take up roles which earlier would have been reserved for MBA students, this way the companies can develop managers who are aligned to their companies values and do not have to go through the trouble of training new people for upper management jobs.

Tuition Fees (High vs Medium-Low)
Another difference between the two is the amount of money charged by them as their fees, the MBA with its strong and rich background and has proven its ability to get students placed in top level companies, & hence charges high premium tuition fees ranging anywhere from 40,000$ to 100,000$ per year, this data may vary but this range seems to be constant in the top ranked colleges. On the other hand the MiM trying to remain competitive and true to its job of being an attractive alternative for youngsters, tends to offer top quality education at costs about half of that of the Average MBA. One can easily get a Masters in Management degree with an investment of 18,000$ to 35,000$ per year. The cost may be a deciding factor for young students and professionals who don't have that much money stored up or do not want to drown themselves with student debt. In this case MiM packs a lot of punch for the buck , and the ROI can be really great with average salary packages ranging around 50,000$ per year. Also MiM offers a significant amount of scholarship to students they deem deserving, and this further decreases the overall cost.

Verdict
So what should you opt for the MiM or the MBA? Well the choice is purely personal and depends on the situation you are currently in. But one thing we are sure of is that both the MBA and the MiM are fabulous degrees, and you can expect a fast track career path in either of the two.
You can check out more info about the MiM at http://www.mim-essay.com/what-is-the-mim-.html

Regards,
_________________

Abhyank Srinet
Founder at www.MiM-Essay.com

All you need to know about the MSc in Management   [#permalink] 14 Jun 2015, 07:34

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