What is a Masters in Management (MiM)?

MiM programs focus on providing a broad understanding of business and management principles, often designed for recent graduates or individuals with minimal work experience.

What are the entry requirements for MiM programs in the US?

Requirements vary, but generally, a bachelor’s degree, proficiency in English (TOEFL/IELTS for international students), standardized test scores (GRE/GMAT), letters of recommendation, and a statement of purpose are common requisites.

What's the typical duration of an MiM program in the US?

MiM programs in the US typically last for 10-16 months, varying based on the institution and whether it’s a full-time or part-time program.

2022-03-09 |

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Masters in Management in The US

Is MiM available in USA?

By Grad-Dreams

USA

MS and ME and Masters

Masters in Management in The US

Some colleges in the United States offer a Masters in Management program that lasts up to two years as part of their MS program. MiM's focus in the United States is on the development of leadership and management abilities through an action-based curriculum. The average cost of earning a degree at a top-tier American university ranges between 56,800 and 150,000 dollars. For an Indian student, the estimated cost of tier-1 universities is one crore rupees, whereas the cost of tier-2 universities is approximately 50 lakh rupees.

To get admitted to a master's in management program in the United States, international applicants must have a strong performance in their bachelor's degree (83-86 percent or higher) as well as strong language proficiency scores (TOEFL or others). Competitive GMAT scores are required for admission to most of the top colleges in the United States that offer master's degrees in management; however, GMAT waivers are possible for students studying in the United States.

An annual median salary of up to 128,000 USD (94 lakhs INR) is offered by the management industry, according to industry sources. According to the employment rates published by leading business schools for their MiM graduates, over 85 percent are employed, indicating that job prospects in the United States are improving after completing a MiM.

#Why Study MIM in The US?

The United States is home to a plethora of prestigious business institutions that provide internationally renowned Master in Management programs. In addition to providing students with essential academic and practical information, it also qualifies them to function as a business manager in the ever-changing and competitive world of business today. The following are some other reasons why international students choose to pursue a master's degree in management in the United States:

In contrast to MBA programs in the United States, applicants are not required to have prior work experience to succeed in the profession.
Managerial jobs are predicted to rise by 7 percent from 2018 to 2028 in the United States, compared to a national average of only 5 percent for all occupations during the same period.
By 2028, it is predicted that a total of 706,900 new managerial positions will be created.
Management occupations have a median yearly compensation of 105,660 USD, according to Payscale. This is the highest pay grade available across the board for all main occupational groupings in the United States.
According to the results of the 2019 economic survey, there are approximately 12.5 percent of management jobs accessible to overseas graduates in the field.

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#Eligibility

Proof of English Proficiency
Interview
GRE or GMAT scores
Bachelor's degree with a minimum 3.0 GPA on a 4.0 scale (equivalent to 83% to 86%)

#Required Documents

A significant amount of paperwork is required for admission to a higher education institution in the United States. Documents such as proof of language competency, educational certificates, and other supporting documentation are necessary when applying for a position in this country. The following are the specifics of the documents in question:

Professional Curriculum Vitae: A comprehensive curriculum vitae listing all of the relevant academic qualifications, work experience, projects, internships, and other extracurricular activities.

Candidates must present all of their relevant mark sheets and passing certificates from their classes 10, 12, and undergraduate degrees to be considered.

Letters of Recommendation: Each university asks an applicant to submit either two or three letters of recommendation, depending on the program. It is necessary to send hard copies of the letters to the individual universities.

Standardized test scores: Applicants to select colleges may be required to submit GMAT scores to be considered.

English Proficiency Score: Because English is not the applicant's first language, he or she must take the TOEFL or IELTS exam to demonstrate their proficiency in the English language.

To be considered for this course, each candidate must provide an online statement of purpose explaining their only motivation for pursuing this particular course.

#Student Visa

Visas are issued in a variety of forms in the United States. F1 is reserved for students who wish to pursue academic careers at colleges in the United States. The following documents must be submitted with the application for a study visa in the United States:

The letter of acceptance from the university, as well as other academic documents (Transcripts).
Certificates of immigration, provisional, character, and birth are all available.
Both the University authority and the candidate must sign and authorize the I-20 on the original.
From the sponsor, a letter of sponsorship and a certificate of relationship are required.
As financial proof, bank transactions over the previous six months and a balance certificate are required.
Before going to the visa interview, you must pay the SEVIS cost.

Following the submission of these documents, the applicant will be requested to participate in an interview procedure. A visa will only be awarded after the applicant has completed their visa interview.

#Cost Of Studying

International applicants who desire to pursue a degree in the United States must ensure that they have the cash to support their studies. The cost of studying can be divided into three categories: pre-arrival costs, tuition fees, and the cost of living in the country of residence.

Pre-arrival costs

This is a one-time fee that must be paid before beginning classes at the university. The following is a breakdown of the costs associated with such expenses:

USA Student Visa Application Fee: 510 USD
IELTS Fees: 240 USD
TOEFL Fees: 200 USD
GRE Fees: 190 USD
GMAT Fees: 250 USD

#Cost of living

House rent, food plans, and travel expenses are all factors that must be considered by students when deciding where to reside in order to maximize their savings. The following is a detailed breakdown of the monthly cost of living in various cities in the United States:

Cities in the USA	House Rent	Food	Transport (Monthly pass)	Miscellaneous	Total
Durham	$1500	$450	$36	$500	$2486
Long Beach	$1700	$650	$65	$1000	$3415
Cambridge	$2600	$300	$84	$600	$3584
New York	$3200	$650	$127	$1500	$5500
Los Angeles	$2800	$500	$100	$1000	$4500
Stanford	$3000	$520	$120	$1200	$5300
Tempe	$1700	$400	$40	$700	$3000
San Francisco	$3200	$500	$81	$1000	$4781
Ann Arbor	$1300	$400	$58	$600	$2358

Scholarships

Because of the enormous financial burden imposed by the tuition costs for master of management programs in the United States, as well as the additional living expenditures, international students seek financial assistance through scholarships. The following is a list of scholarships available in the United States for international students:

University	Scholarship	Amount (in USD)
Fuqua School of Business	Fuqua Merit Scholarships	Waiving off tuition fees
Sloan School of Management	Research Assistantship	33,924 per year
Columbia Business School	Laidlaw Foundation Scholarship	7,500-30,000
Stanford University	The Aga Khan Foundation	50% off tuition fees
Anderson School of Management	Education Future International Scholarship	3,000-14,000
Ross school of business	Ross MM Scholarship	Varies

#Career Prospects

Since the previous decade, a Master's in Management has been increasingly popular among international students as an alternative for an MBA. After graduation, international students have a high likelihood of landing excellent employment possibilities in the United States.

The average salary earned by a graduate with a Master of Management degree in the United States is 76,000 USD per year on average. Lockheed Martin, Booz, Allen & Hamilton, the United States Army, and other leading companies are among the top recruiters for this program.

Job Role	Average Annual Salary (USD)	Average Salary (INR)
Human Resource Director	96,000	72 lakhs
Human Resource Manager	72,000	54 lakhs
Project Manager	78,000	58 lakhs
Operations Manager	72,000	54 lakhs
Director of Operations	96,000	72 lakhs
Executive Director	86,000	64 lakhs