All you need to know about the MSc in Management

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?

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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
MiM	MBA
Designed for Recent Graduates with no work experience	Designed 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 Europe	Originated 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

International

• CEMS
• ESCP Europe

UK

• London Business School
• London School of Economics and Political Science
• Bayes Business School

France

• Hec Paris
• Essec Business School
• Em Lyon

Spain

• Esade Business School

The Netherlands

• Rotterdam School of Management

Sweden

• Stockholm School of Economics

Belgium

• Solvay Brussels School of Economics and Management

Denmark

• Copenhagen Business School

Finland

• Helsinki School of Economics

Norway

• Norwegian School of Economics and Business Administration

Ireland

• Michael Smurfit Graduate Business School

Austria

• Vienna University of Economics and Business

Germany

• Mannheim Business School

Poland

• Kozminski University

Hungary

• Corvinus University of Budapest

Canada

• HEC Montreal
• Queen’s School of Business

China

• Antai College of Economics and Management

Taiwan

• National Chengchi University

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

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