Master’s in Management salaries at three top MIM programs
As one of the highest-paying (and fastest-growing) master’s degrees, Master’s in Management (MIM) graduates can expect above-average salaries across industries.
At Frankfurt School of Finance & Management, the average salary for a MIM graduate is EUR€54,000 per year. The tuition fee for the two-year MIM program at Frankfurt School is EUR€33,000.
At ESSEC Business School, the average Master’s in Management salary three years after graduation is EUR€93,000. The tuition fee for the two-year MIM program at ESSEC is EUR€37,200 for EU nationals and EUR€43,000 for non-EU nationals.
At the University of St.Gallen, the average salary of a Strategy & International Management (SIM) graduate is EUR€109,000. The tuition fee for the SIM program is roughly EUR€9,500. As a public institution, the University of St.Gallen receives government funding, which explains its relatively low tuition fees.
From EUR€50,000 to EUR€100,000, it’s clear that a MIM degree can accelerate students’ career growth shortly after graduating. However, it is important to note that post-graduation MIM salaries will also depend on the industry and country in which graduates work.
Most popular industries for MIM graduates
Across the board, the most popular industries for MIM graduates are financial services and consulting. However, there are a few other sectors that are gaining more traction among MIM students.
Felix Papier, Dean of Pre-Experience Programs at ESSEC Business School, says, “As is probably the case with many other business schools, our largest sectors that our graduates work in are consulting and finance. Together, they make around 50-60% of the jobs where our graduates start working. But then we also have a lot of graduates working in the tech and digital industries, in the health and pharmaceutical [industries], and in the luxury industry.” (11:59)
Another interesting field is entrepreneurship. ESSEC Business School offers the ESSEC Ventures incubator, which “has created more than 400 companies in the last few years and many survive more than five years after the graduation of the students,” Felix tells us. (12:57)
At the University of St.Gallen, a large portion of MIM students find jobs in strategy consulting. However, Linda Lorz, Career Coach & Careers Manager for the SIM program, adds, “Another big area of career starters are in the corporate sector, so either strategy jobs or investing roles in finance. We have pharma, we have banks, private equity…and consumer goods is still also a classical one.” (10:45)
When it comes to pursuing a career abroad, most MIM international students at Frankfurt School stay in Germany because they are able to secure full-time positions before graduating. Recruitment Officer at Frankfurt School, Lianna Mirzoyan, elaborates, “According to our statistics, about 38% of our students secure a full-time position before graduating, and 41% up to three months after their graduation.” (09:35) MIM graduates at Frankfurt School work mostly in consulting, financial services, and IT.
MIM career support: How do students secure jobs post-grad?
MIM degrees are valuable for career growth because of their international orientation, emphasis on in-demand leadership and managerial skills, and access to top business leaders and corporations worldwide.
The best MIM programs play a key role in helping their students secure esteemed jobs after (and sometimes before) graduation.
At Frankfurt School, the Career Services team offers a range of services. “Once [students] are admitted, they can just approach our Career Services, show their CV, tell them what kind of position they’re looking for,” Lianna explains. “Our Career Services can help students prepare their CVs and show them all the vacancies from different companies, not only in Frankfurt.” (15:54)
Learning-by-doing takes center stage at ESSEC Business School, where many students complete an apprenticeship during the MIM program. “Many of our students who do an apprenticeship get a job offer from the company,” Felix states. (14:56) During an apprenticeship, students work and study at the same time based on a rhythm defined with the company. The apprenticeship company covers the tuition fees of the student and pays a salary to the student over the duration of the contract. ESSEC’s Career Services also provides CV and job interview preparation, mentoring programs, and recruitment fairs. Furthermore, as ESSEC’s MIM students can choose to start the program in France or Singapore, there are Career Services teams on both campuses who understand the nuances of the job market in Europe and in Asia. They support the students in their job search with a tailored regional approach.
The University of St.Gallen also offers these standard services, including career advice and recruiting events. However, Linda adds, “I think the purpose of SIM Careers is really to enable students to grow and ultimately to make more informed decisions based on being challenged on their long-term career goals. The activities we offer at SIM in terms of career and employability enhancement are all linked to supporting that process. So, either it’s reflection-related, skills enhancement, or it’s support in going for those jobs that they have defined [as] valuable for them.” (17:36)
At the end of the day, the Master’s in Management salary is going to be a huge draw for prospective students. But, it’s also important to think about the type of industry you want to work in and how your school is going to help you get there.