The Masters in Management (MIM) course in the UK has increasingly become one of the most popular options for students of commerce looking to build a career in the corporate industry as it is a postgraduate degree program that helps students build a strong foundation in business and management.  These courses are not only shorter in duration as compared to MBA courses but are also way less expensive in fees. 

A Masters in Management course in the UK is typically a one-year program with special focus on a range of business centric disciplines such as business analytics, corporate finance and organizational behavior. On an average, the Masters in Management in the UK fees comes to 20,000 pounds exclusive of accommodation, food and educational resources. 

Highlights of Masters in Management in UK 

Why Study Masters in Management in the UK?

Securing a Masters in Management from the UK is deeply rewarding for students looking to forge a career in the corporate world. You can broaden your business skills and refine your financial expertise through MIM even if you have just graduated with a Bachelor's degree. 

While there are some degrees that require applying candidates to have at least 3-5 years of job experience, MIM courses generally tend to be open to candidates with little to no working experience. This is a huge advantage for students seeking a headstart in their careers. 

Another important reason why you should get a MIM from the UK is that upon course completion you stand to earn an average salary of at least 30,000 - 40,000 pounds per year. It is important to note however that the salary amount varies based on factors such as the industry, location and designation of work in addition to the candidate’s work experience and specialized skill set. Having a rich work experience and inter-disciplinary skill sets can make you earn a higher salary.

Types of Masters in Management in the UK

When it comes to choosing a specialization in Masters in Management in the UK, there are  several options for students to pick from. 

1. Finance - A specialization in finance deep dives into subjects such as investments, finance management and accounting. 
2. Marketing - A specialization in marketing provides students with the tools necessary for designing marketing campaigns in addition to understanding consumer behavior and conducting market research. 
3. Entrepreneurship - MIM programs with a specialization in entrepreneurship help students to grasp fundamental knowledge of business planning.
4. International Business - International business specialization lays special emphasis on global business operations, intercultural communication and commerce. 
5. Strategy and Consulting - MIM programs with a specialization in strategy and consulting specialization are based around planning, assessment, and management consultancy. 
6. Human Resource Management - With a Human Resource Management specialization, students are trained to manage and cultivate an efficient workforce.
7. Information Systems Management - MIM programs with Information Systems Management specialization train students regarding recruitment, training and assessment processes.

Best Universities for Masters in Management in the UK

Some of the top universities for a Masters in Management program in the UK are:

1. London Business School

2. London School of Economics

3. Imperial College Business School

4. University of Warwick - Warwick Business School

5. City University of London - Bayes Business School

6. King's College London

Course Curriculum for Masters in Management in the UK

The MIM course typically ranges from topics such as finance and marketing to business and consultation in addition to other topics. The curriculum is designed to specifically help students build their distinctive skill-sets and enter management-level roles across diverse industries.

An MIM course curriculum integrates lectures, case studies and practical projects alongside placement opportunities to help students prepare for a career in the corporate world. As part of their final assessment, many universities require students to submit a research project. As compared to an MBA, the MIM program is generally known for its focus on practical knowledge.

Admission Requirements & Eligibility Criteria for MIM in the UK

Eligibility Criteria

Following is the eligibility criteria for MIM in the UK:

• Bachelor's degree or equivalent from a recognized institution
• Minimum GPA of 3.0
• Proficiency in English through standardized language tests such as TOEFL or IELTS for international applicants
• Work experience (in the case of some universities)
• Recommendation letters
• Statement of purpose outlining vision and academic goals

Admission Requirements

Here are some of the Masters in Management in the UK requirements for admission:

1. Academic Records: These are official records of your academic achievements in the years leading up to your masters.
2. Standardized test scores: Standardized tests include the GMAT or GRE. It is important to get a good score in these tests in order to pursue a post-graduation in management.
3. Resume/CV: One of the most important documents, it should enlist and detail your professional experience, education, and any relevant achievements or awards.
4. Letters of recommendation: Submitting 2-3 letters of recommendation
5. Statement of purpose: An important document for not only outlining your vision but also for establishing your goals.
6. English language proficiency test scores: Specific to international students,  it is important to show proficiency in English language by taking tests such as the TOEFL or IELTS.
7. Educational Qualification: The minimum educational qualification for MIM colleges in the UK is a bachelor's degree or an equivalent qualification.
8. Work Experience: Most MIM programs in the UK do not ask for mandatory work experience with the exception of some colleges. 
9. Visa Requirements: Students must have a valid passport and visa without restrictions on their length or type of stay.
10. Other Entrance Exams: Another important step is to clear entrance exams such as the Graduate Management Admission Test (GMAT) or the Graduate Record Examination (GRE). The minimum required score for these exams differs across different programs in different universities.

Masters in Management in the UK Admission Process

Students seeking admission for MIM in the UK should follow these steps:

• Finalize which university you want to apply to. Once you have picked a university of your choice, visit their official university website and make a note of all the data required for eligibility and the admission process.
• Upload scanned copies of all the required documents which should include Academic transcripts, CV, Resume, Letters of Recommendation, IELTS/TOEFL and GMAT/GRE scores
• Fill out the application form and pay the fee.
• Once you have completed these steps, you will receive a conditional offer letter. This letter is the proof of your selection after which you may proceed to book your seat at a university.
• Pay your deposit by agreeing to the terms and conditions of the university. An important thing to remember is that the deposit is non-refundable.

Cost of Studying for MIM in the UK

The cost of pursuing a Masters in Management program in the UK mostly comprises the tuition fees, transportation, food expenses and accommodation. The tuition fees largely depend on what college you opt for. 

Typically the tuition fees MIM in the UK ranges from £20,000 - £30,000 per year while the transportation expense ranges from £1,000 - £1,500 per year. The cost for accommodation ranges from £6,000 - £12,000 per year and food expenses come to £2,000 - £3,000 per year.

Other than these expenses, international students who apply for MIM in the UK also have to pay an application fee of about £75 - £150 based on their programs. Aspiring candidates also must first pass the english proficiency test through IELTS or TOEFL which costs £138.18 - £147.51 and also clear the GMAT or GRE which costs between £160.82 – £188.75. In addition to all this they must also secure a UK visa which currently costs £348 for a Tier 4 UK student visa. This visa is only valid for six months.  

Scholarships & Financial Aid for MIM in the UK

Most scholarships for MIM programs in the UK are generally merit or need-based. These may provide financial assistance to students covering their tuition fees, accommodation, transportation and other expenses. Some scholarship grants even come with added perks that aid students in forming relationships with potential employers thereby giving a head start to aspirational careers.

There are many scholarship opportunities for students who display outstanding merit through scholarly excellence or exemplary leadership. The Chevening Scholarship is a great example of students being awarded full compensation for tuition fees, transportation cost and accommodation during the course of their program. Some of the other notable scholarships are

• Commonwealth Scholarship - Funded by the UK government, covers full tuition fee, transport cost, accommodation cost
• Fulbright Scholarship - Covers full tuition fee, transport cost, accommodation cost
• Marshall Scholarship - Available for American students
• GREAT Scholarships - Available for Indian students
• British Council IELTS Scholarship - Available for Indian students
• Commonwealth Scholarship and Fellowship Plan - Available for Indian students

Job Opportunities Masters in Management in the UK

The UK currently has many different opportunities for MIM graduates through various different industries and sectors. Recruiters are constantly on the search for MIM graduates as there is high demand in the fields of financial consultancies in addition to jobs related to marketing and operations. 

One of the best parts of graduating in Masters in Management from the UK is that many colleges/universities have great placement cells in-built that help students tackle some of the obstacles that may arise while starting a career. Students are guided through how to navigate through job search strategies and building resumes as well as given internship opportunities where they can display their prowess.

Upon course completion, an MIM graduate has a range of job roles to pick from depending upon their preferences, specializations and academic merit. They can get into consultancies, build brands from the ground up or even join the top ranks at an established corporation. Masters in Management in the UK jobs also offer positions for Financial Analysts, Marketing Managers and Project Managers amongst other roles.