Are you considering pursuing a Masters in Management (MiM) in the UK? With so many universities offering MiM in the UK, deciding which one to choose can be difficult.
This blog will explore the top universities for MiM in the UK, their eligibility criteria, admission process, and fees.
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By the end of this blog, you will understand the options available to you and be able to make an informed decision about which MiM program to pursue in the UK.
| Duration | 1 year |
| Average annual fees | INR 20L |
| Average annual salary | INR 26L – 42L |
| Language proficiency test | 1. IELTS – 6.5 minimum 2. TOEFL – 91 3. Duolingo – 105 to 120 |
| GMAT | 600 – 650 |
Let’s explore!
Top Universities for MiM in UK
Various universities in the UK offer Masters in Management programs, and each university has its own eligibility criteria, admission process, and fees.
Here are some top MiM universities in UK along with mim in UK fees
| University Name | Average Annual Fees (INR) |
|---|---|
| London Business School | INR 30L – 40L |
| Durham University Business School | INR 20L – 25L |
| Cranfield School of Management | INR 20L – 30L |
| Imperial College Business School | INR 25L – 30L |
| Warwick Business School | INR 28L |
Eligibility Criteria for MiM in UK
Applicants from any field can choose to pursue a master’s in management. The eligibility criteria for admission to MiM are almost the same in most UK universities. They are:
- Applicants must have an undergraduate degree equivalent to the UK first or upper second-class honours (2:1) degree.
- An undergraduate degree with a minimum score of 60-70%.
- English Language Proficiency (ELP) test is another one of the important admission criteria. Applicants must submit their language proficiency test scores along with the application.
- Minimum required scores in ELP test: IELTS – 6.5 to 7.0 and TOEFL – 93 to 100.
- Applicants also need to take the standardised exams (GRE, GMAT) required to study in the UK.
- The GRE and GMAT scores may be required for admission into some UK universities.
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Admission Process for MiM in UK
If seeking admission to MiM in the UK, the applicant is required to fulfil all admission requirements of the university. The general requirements for admission are mentioned below:
- Application Form: Applications for admission to any UK university can be started online through the respective university website.
- Application Fee: Applicants need to pay a non-refundable application fee. The fee at the top UK universities ranges between INR 6000-10000.
- Application Timeline: The applications for most universities for Masters in Management in the UK generally begin by September. The admission deadline in many universities is June to July.
Some universities, like the London School of Economics & Political Science or Imperial College Business School, do not have any such deadlines. Applications here are reviewed on a rolling basis.
Cost of Studying in UK
The cost incurred by a student to study abroad includes the pre-arrival cost and living expenses along with the tuition fee. Given below is an approximate breakdown of costs.
The cost of living in the UK differs based on the region of the country the student stays in. London is more expensive than most other parts of the UK. The average cost of living for international students in the UK ranges from INR 14L to 17L. The approximate living cost breakdown (annually) is given below:
- Rent for 1 BHK Apartment: INR 7L- 8L
- Other Utilities: INR 2L
- Council Tax: INR 1L
- Mobile Phone Plan: INR 50,000
- Public Transport Travel Cost: INR 70,000
- Miscellaneous: INR 3L
So, the total cost of living in the UK, on average, is around INR 15L at the maximum.
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Highest-paying Jobs after MiM in UK
Some of the high-paying jobs are:
| Job Profile | Average Annual Salary (INR) |
|---|---|
| CEO | INR 17 crores |
| Executive Director | INR 17 crores |
| General Manager | INR 13 crores |
| Production Manager | INR 12 crores |
| Product Executive | INR 10 crores |
Note: Recently, it was announced that international students are allowed a two-year post-study work visa, which makes it easier to apply for jobs after graduating from the UK.
Conclusion
Management is an ever-growing field in the world of markets. The opportunities for management graduates are growing at a rapid rate. Pursuing a MiM in the UK is a very good choice for your career, especially if you want to start your own business.
For more guidance on MiM in the UK, you can contact LeapScholar to help you choose the university best suited for you and make your journey of studying abroad a memorable experience.
Frequently Asked Questions (FAQs)
Q. What are some of the high-paying job roles in the UK?
Ans. Some of the high-paying jobs are:
1. CEO
2. Executive Director
3. General Manager
4. Production Manager
5. Product Executive
Q. What are the career prospects after completing MiM in UK?
Ans. After completing MiM in the UK, numerous career prospects are available. You can work in various fields, such as finance, marketing, consulting, human resources, and operations, to name a few. The degree can help you secure a job with a higher salary and an opportunity to climb the corporate ladder.
Q. Is MIM in demand in UK?
Ans. Yes, a Masters in Management (MiM) is in high demand in the UK. Many universities in the UK offer MiM programs, and the degree is recognised globally. The degree provides students with the necessary knowledge and skills to succeed in the corporate world. The UK is home to many multinational corporations, and the degree can help you secure a job in one of these companies. The degree prepares you for leadership roles and equips you with the necessary tools to manage teams and projects.
Q. Is MIM better than MBA?
Ans. A MiM degree is ideal for students with little professional experience who want to gain management knowledge and skills. An MBA is more comprehensive and is designed for individuals with several years of professional experience who want to advance their career in management. Both degrees have advantages and disadvantages, and choosing one over the other should be based on personal career goals and aspirations.
Q. Does MIM require an entrance exam?
Ans. Yes, most universities offering MiM programs in the UK require an entrance exam as part of their admission process. The most commonly accepted entrance exams for MiM programs in the UK are the Graduate Management Admission Test (GMAT), the Graduate Record Examination (GRE), and the Common Professional Examination (CPE).
Q. Who is eligible for MIM?
Ans. To be eligible for a Masters in Management (MiM) program in the UK, applicants must have a bachelor’s degree or equivalent qualification from a recognised institution. The minimum required GPA or academic score can vary; some universities may require work experience. International students may need to demonstrate proficiency in the English language.
Q. What role does accreditation play in MiM programs?
Ans. Accreditation is essential for MiM programs in the UK. Accrediting bodies evaluate and recognise the quality of education a university or business school provides. Attending an accredited MiM program can provide a competitive edge in the job market and can be beneficial for further education or certifications.
Q. How much can I earn after MiM in UK?
Ans. The earning potential after completing a Masters in Management (MiM) in the UK varies based on industry, job role, and work experience. On average, MiM graduates in the UK earn between INR 34L and 44L per year. However, graduates with work experience in consulting, finance, and marketing can earn starting salaries of INR 53L per year or more.
Q. Which are the top 10 MiM colleges in UK?
Ans. The top 10 MiM colleges in the UK are London Business School, University of St. Gallen, HEC Paris, IE Business School, ESADE Business School, Rotterdam School of Management, Bocconi University, ESCP Business School, ESSEC Business School, and University of Cambridge. All these colleges offer excellent Master’s in Management programs that provide students with the necessary skills and knowledge to succeed in their careers.
Q. How much does MiM cost in the UK?
Ans. The cost of pursuing a Masters in Management (MiM) in the UK depends on the university, program duration, and location. Tuition fees typically range from INR 10L to 32L per year, and international students may need to factor in additional costs such as accommodation, food, travel and insurance. Researching specific universities and programs is important to determine exact fees and additional costs. Scholarships, financial aid, and funding opportunities may also be available.
Q. Is GMAT mandatory for studying for a Master’s in the UK?
Ans. Whether the GMAT is mandatory for studying for a Master’s in the UK varies by university and program. Some require GMAT scores, while others may accept other standardised tests or no test scores. Checking specific admission requirements is important to determine whether GMAT or other test scores are required. A good score can improve the chances of admission.
Which are the top MiM colleges in UK?
The top MiM colleges in the UK are London Business School, HEC Paris, University of Cambridge, University of St. Gallen, IE Business School, ESADE Business School, Bocconi University, ESCP Business School, ESSEC Business School, and Rotterdam School of Management. These colleges provide top-notch Master’s in Management programs that equip students with the knowledge and skills required to succeed in their careers.
What are the admission requirements for MiM UK programs?
The admission requirements for MiM UK programs vary depending on the college and program. However, most universities require students to have an undergraduate degree in any field, a good GPA, and a good score on standardized tests such as GMAT or GRE. Additionally, universities may also require students to submit essays and letters of recommendation and undergo an interview process. International students may also have to provide proof of English proficiency.
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