Masters in Management in the UK
Masters in Management, often and popularly abbreviated to MIM, is a top postgraduate degree preferred by fresh graduates or young professionals. MIM provides comprehensive knowledge of various management streams such as finance, marketing, entrepreneurship, consulting, international business and such other management subjects. It is drawn on the disciplines of business, economics, psychology, strategy, and sociology. MIM study exposes a student to knowledge of all departments of doing a business or acting as a management professional.
To make it easy for you, think of a Masters in Management as an equivalent to an MBA program, the key difference being that of work experience requirement by the same business school.
What is the difference between MBA and Masters in Management?
If you go to see, there is not much difference between MIM and MBA in terms of curriculum, but is more do with the cohort or the class you will study in. Here are three key differences between MIM and MBA:
- Work Experience: MIM attracts students who have lesser than 2 years work experience after graduation and even fresh graduates who have recently finished their students. Most MBA courses abroad, on the other hand, require at least 2 years of work experience.
- Class Profile: Since MIM does not require work experience, the average work experience of students in the class is low. In the MBA class however, you can expect students with more than 2, 3, 4, 5 years of work experience or even higher. Thus, MBA offers the opportunity to learn from and network with applicants who have worked in the industry and the experiences shared by all bring in its own advantages.
- Cost of MIM vs Cost of MBA: Cost of the programme can be an important difference. Whereas top MBA programs could cost very high, the cost of studying MIM could be relatively low at the same University in comparison to the MBA. eg. the London Business School MBA fees for the 2019 intake are £82,000, whereas for the same intake the Masters in Management at LBS costs £32,500. Similarly, a top MBA programme such the Cranfield MBA for 2019 intake was priced at £39,000, while the MSc Management was priced at £26,000 for international students.
Top MIM Colleges in the UK
Nearly all UK Business Schools offer both MBA and MIM. Some UK Universities also offer internships and graduate placements after Masters in Management. We have referred to the Financial Times Ranking that ranks Masters in Management from all top Universities across the world.
Masters in Management UK Rankings
Top Masters in Management from UK Business Schools that featured in the Financial Times Rankings – 2018 among Top 100 in the world are:
- London Business School
- Imperial College Business School
- Warwick Business School
- City, University of London: CASS Business School
- Cranfield School of Management
- Lancaster University Management School
- University of Edinburgh Business School
- Durham University Business School
- University of Bath School of Management
- Alliance Manchester Business School
- Henley Business School
- Leeds University Business School
- University of Strathclyde Business School
- University of Liverpool Management School
- University of Bradford School of Management
- University of Exeter Business School
- Brunel Business School
- Adam Smith Business School, University of Glasgow
- Nottingham Business School at NTU
The above list only includes UK Universities and Business Schools whose MSc Management or Masters in Management has featured in the ranking, and not Masters in International Business. It also does not include Business Schools whose main or first campus is in another country eg. ESCP Europe, Grenoble Ecole de Management.
MSc Management in the UK with work placement
Out of the list of UK Business Schools listed above, the following three offers internship or work placement during or after the MSc Management course:
- Cranfield University – Management MSc – Learn about Cranfield University
- Cranfield University offers 3 months internship after its Management MSc
- Brunel University – MSc Management – Learn about Brunel University
- Brunel University offers 1 year work placement after its MSc Management
- Nottingham Trent University (NTU) – MSc Management
- NTU offers 1 year work placement after its MSc Management
5 Reasons to Study Masters in Management in the UK
1. No Work Experience Requirement for MIM in the UK
Masters in Management in the UK does not require any work experience after graduation. This is a great advantage, as students who wish to be early career starters, have the opportunity to study at a top UK business school for a general management degree.
While MBA with no work experience in the UK is possible at many British Universities, many students prefer to go to a better ranked business school for gaining similar knowledge through MIM.
2. One Year MIM Courses in the UK Saves Time
Most of the top MIM courses in the UK last only for a year. Students can save time and get an early start to their career. This time saving is also especially useful for students who wish to join their family businesses as one full year can be used to get trained in the business.
3. International Recognition of Masters in Management
Popularity of Masters in Management across the world has been increasing rapidly. While over 80% of Masters in Management are offered in Europe, the said programme is becoming increasing popular in the US and Canada too. The fact that most top ranking systems are rating the Masters in Management courses from top business schools speaks for itself.
UK was one of the first few countries that started the Masters in Management. Most of the programmes offered at these top British Business Schools are not only recognized in the UK itself, but are very well recognized across the globe.
4. Save Money as compared to studying an MBA
MIM programmes are often compared with an MBA. An MBA programme in the UK can cost way higher than an MIM programme. A typical MIM cost in the UK will be between £15000 to £20000. The UK MIM courses start at around £12000 for the full course. Indeed, there are some expensive MIM courses too such the one at London Business School. However, if you compare the cost of MBA at London Business School as against the cost of MIM at LBS, the cost will be lesser than half.
Since the most popular UK MBA courses require quality work experience after graduation, many students with lesser or no work experience do not have a chance to get admissions. An MIM course is the best alternative to enter into that UK business school and gain top management knowledge and acquire leadership skills, and that too at a much affordable price.
Eventually it is your knowledge that counts at a work place because the better your delivery at work, the better you shall be rewarded.
5. MIM in the UK without GMAT
Many top business schools in the UK offer MIM where GMAT in not required. Some of these Universities are:
- Cranfield University
- University of Manchester
- University of Warwick
- Durham University
- Lancaster University
- Nottingham Trent University
- University of Leeds
- University of Strathclyde
Study Masters in Management in the UK
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