IIMs are the most elite management institutes of the country, and if you make it to the top 6 IIMs - Ahmedabad, Bangalore, Calcutta, Lucknow, Indore, and Kozhikode - you can count yourself a part of the crème de la crème of India's talent pool. The returns of pursuing a 2-year PGP programme from the IIMs are immense, which is why every year, lakhs of eager aspirants take the CAT exam and aim to score that elusive 99+%ile score.
However, IIMs are not the only route to excellent management education. In fact, you need not restrict yourself to India to pursue a course in Management from elite business schools! In a previous article on the scope of Masters In Management (MiM) abroad, it has been explained exactly what a MiM entails and how it compares with the PGP programmes of the IIMs. Now that you know that MiM is an excellent alternative to a PGP/PGDM programme, which B-schools should you target? Which are the top management institutes in the world that offer a Masters in Management programme?
Top 10 Colleges For Masters In Management
Enlisted below are the top-10 institutes for MiM, as per the latest rankings released by the highly reputed and credible, Financial Times.
Note - CEMS is a Global Alliance of Business Schools, and is ranked 9th. The table below consists of only individual B-schools, and therefore, CEMS has been omitted from this table. CEMS will be covered in detail in the next article.
| Rank | Institute | Country | Programme | Weighted Salary |
| 1 | University of St Gallen | Switzerland | MA in Strategy and International Management | $108,621 |
| 2 | HEC Paris | France | HEC MSc in Management** | $96,249 |
| 3 | London Business School | UK | Masters in Management | $89,801 |
| 4 | ESSEC Business School | France / Singapore | MSc in Management** | $93,461 |
| 5 | ESCP Europe | FR/UK/DE/ES/IT | ESCP Europe Master in Management** | $80,346 |
| 6 | Università Bocconi, SDA Bocconi | Italy | MSc in International Management | $77,452 |
| 7 | University College Dublin: Smurfit | Ireland | MSc in International Management | $68,400 |
| 8 | Rotterdam School of Management, Erasmus University | Netherlands | MSc in International Management | $78,922 |
| 10 | IE Business School | Spain | Master in Management | $79,784 |
| 11 | ESADE Business School | Spain | MSc in International Management | $81,615 |
Rank #1 - The University of St. Gallen
The University of St. Gallen offers a full-time programme known as MA in Strategy & International Management (SIM). The University has been ranked number 1 consistently from 2011-2018 for its SIM programme. The admissions process begins in the month of October (first round), and the admission decision (first round) is released by late December.
The following are the selection criteria and their respective weights, as assigned by the University:
- GMAT/GRE Score - 20%
- Average Grade (Undergraduate Studies) - 20%
- Extra Curricular Activities, Work Experience - 20%
- Essay - 10%
- Video Interview - 30%
You will be required to show evidence of proficiency in the English language (TOEFL iBT scores) since the entire curriculum is taught in English. Here is how you can score 110+ in TOEFL with just one week of preparation!
When it comes to batch profile, the average age of the Class of 2018 of 51 students was 24. 90% of the students were non-Swiss, and women made up nearly half the SIM batch. Read more about the MA. SIM programme here.
Rank #2 - HEC Paris
HEC Paris, one of the world's most reputed management institutes for MBA, also offers a world-renowned 18-month Masters in Management programme. The admissions process begins in the month of July, and the deadline for round 1 of applications is end-October. To apply to HEC's MiM programme, you will need:
- GMAT/GRE Score
- One Page CV
- TOEFL/IELTS Scores
- 2 Letter of Recommendation
- Application Essays
At HEC Paris, the average age of the MiM batch is 23, with 250 international students. The median GMAT score is 710, while the average GMAT score is 708.
The Masters in Management programme at HEC costs €39,700, which translates to approximately ₹31.4 lakhs as of June 2019.
Find answers here to all the questions that you may have about this programme.
Rank #3 - London Business School
LBS, one of the world's premier management institutes, offers a 12-16 month Masters in Management programme for graduates, with little or no work experience, looking to kick-start a career in management. The admissions process begins in the month of July, and the deadline for round 1 of applications is in late October. To apply to London Business School's MiM programme, you will need:
- GMAT/GRE Score
- Application Essays
- One Page CV
- 2 LoRs
- TOEFL/IELTS Score
The LBS MiM Class of 2019 had a total of 251 students of 45 different nationalities. For GRE, the average VR score is 158, while the average QR score is 164. View the LBS Class of 2019 directory here.
The MiM programme costs £32,620 for 3 semesters, which translates to ₹28.88 lakhs, and £40,000 for 4 semesters, which translates to ₹35.42 lakhs. Read more about the programme here.
Rank #4 - ESSEC Business School
ESSEC Business School, France, offers a 2-year Masters in Management Grand Ecole programme. The admissions process begins in July, and the deadline for round 1 of applications is in early October. To apply to ESSEC Business Schools's MiM Grand Ecole programme, you will need:
- Motivation Letter (Cover Letter)
- 2 LoRs
- GMAT/GRE/CAT score
- Application Essays
- TOEFL/IELTS Score
At ESSEC, the average age of the MiM batch is 23, with 45% international students. The MiM programme costs €50,000, which translates to ₹39.50 lakhs. Read the MiM Grand Ecole brochure here.
Rank #5 - ESCP Europe
ESCP Europe offers a 2-year Masters in Management programme across 6 of its campuses in Europe. The admissions process begins in the month of August. To apply to ESCP Europe's MiM programme, you will need:
- Statement of Purpose
- 2 LoRs
- GMAT/GRE/CAT score
- Application Essays
- TOEFL/IELTS Score
The following is the weight for each component of the selection criteria:
- Standardised English test (20%)
- Standardised Management Test (10%)
- Profile review (40%)
- Interview (30%)
The MiM programme at ESCP costs €41,400, which is approximately ₹32.70 lakhs. Read the complete guidelines for admissions here.
Rank #6 - Universita Bocconi, SDA Bocconi
SDA Bocconi, ranked among the top-35 business schools of the world for its MBA programme, also offers a two-year MSc. in International Management, equivalent to a Masters in Management. The applications process begins mid-July, and the deadline for Round 1 is kept at mid-September.
To apply for the MSc. IM programme at SDA Bocconi School of Management, you will need:
- GMAT/GRE Score
- CV
- Personal Statement
The MSc. IM programme costs €28,000, which is approximately ₹22.12 lakhs. Read more about the programme here.
Rank #7 - University College Dublin: Smurfit
Michael Smurfit Graduate Business School offers MSc. in International Management, a 16-month programme.
- Essays
- CV
- TOEFL/IELTS Score
- 2 LoRs
The average batch size for MSc. IM is 43 students, with 23 years being the average age. The cost of the MSc. IM programme at Smurfit is €19,200, or approximately ₹15.16 lakhs. Read more about the programme here.
Rank #8 - Rotterdam School of Management, Erasmus University
RSM offers an 18-month MSc. in International Management programme. The applications process begins in the month of October, and the course commences the next year in the month of August. The deadline date for applications is usually set for 31st January. To apply for the MSc. IM programme, you will need:
- GMAT Score (Minimum 600)
- TOEFL Score
The MSC. IM programme costs €27,000, or approximately ₹21.33 lakhs. Read more about the programme here.
Rank #10 - IE Business School
IE Business School, Madrid, offers a 10-month Masters in Management programme, extendable to 13 months. Though ranked 9th in 2018, the IE Business School was ranked 3rd in 2017 by Financial Times. To apply for the MiM programme, you will need:
- One-page CV
- 2 LoRs
- TOEFL/IELTS Scores
- GMAT/GRE Scores
The average age of the MiM batch at IEBS is 24 years, and the average work experience is 1 year.
The MiM programme at IE Business School costs €38,200, which is approximately ₹30.18 lakhs. Read more about the programme here. Read more about the admissions process here.
Note - If you're in Mumbai on 29th June 2019, IE Business School is conducting a meet-and-greet for interested candidates. Register here.
Rank #11 - ESADE Business School
ESADE Business School offers a 1-year MSc. International Management programme. The deadline for Round 1 of applications is end-September, and there are 7 more rounds in which candidates can apply. To apply for the MSc. IM programme, you will need:
- GMAT/GRE Scores
- TOEFL Scores
- 2 LoRs
- One-page CV
The average age of the batch at ESADE's MiM programme is 23 years. The batch size is nearly 140 students.
The MSc. IM programme costs €28,500, which is approximately ₹22.52 lakhs. Read more about the programme here.
Special Mentions
Though a European concept, management institutes in North America have caught up with their European counterparts when it comes to Masters in Management. Although the FT Rankings do not mention any US institutes for MiM, many elite institutes in America have recently started offering Masters in Management programmes to those with less than 2 years of work experience. Some of these institutes are Kellog School of Management - Northwestern University, Ross Business School - University of Michigan, and Fuqua School of Business - Duke University amongst others.
Also to be noted is that INSEAD, one of the world's top-3 business schools, has opened admissions for the first batch of the newly launched Masters in Management programme. Definitely something to look at if you wish to be associated with the remarkable INSEAD brand. Read more about it here.
