Master In

Management
Guide 2024
Everything You Need To Know To Apply
Master in Management Guide 2024
In our BusinessBecause Master
In Management Guide 2024, we
explore everything you need to
know about the MiM experience,
potential future career paths, and
how to ace your application.
You’ll also find the best Master in
Management programs in 2024.
www.businessbecause.com
Content: Charlotte Brook
Design: 7nine.uk
Publication: November 14, 2023
© 2023 BusinessBecause
Images: istockphoto.com
Contents
Why study a Master in Management? 02
Message from our sponsor 03
The Master in Management cohort in numbers 04
The MiM experience 06
Where should you study your MiM degree? 11
7 factors to consider when choosing where to study 15
Master in Management career prospects 17
Master in Management career tips 18
Career success stories 19
Master in Management application checklist 21
How to ace your MiM application 23
The best Master in Management programs 2024 26
BusinessBecause is a trusted source of information
and inspiration for worldwide business school
applicants, supporting you through every step of
the business school journey.
01
 Master in Management Guide 2024
Why study a Master
in Management?
Leaving college and embarking on your
career at a time when the global economy
is facing such uncertainty is sure to be a
bit daunting.
At BusinessBecause, we want to ensure you
have all the information—and inspiration—
you need to make the right decision for you.
Studying a Master in Management (MiM)
could be a good route. As a generalist
degree, a MiM will equip you with
fundamental management skills that
are attractive to employers across a range
of industries.
02
Plus, taking advantage of everything a
business school has to offer could see you
securing internships with top companies,
jet-setting around the world on trips or
exchanges, and building a lifelong network
with a diverse cohort.
If this sounds like a good fit for you, read
our Master in Management Guide to find
out everything you need to know about
what you can expect from a MiM degree,
how to be successful in your application,
and the world’s best Master in Management
programs in 2024.
Enjoy, and good luck with your Master in
Management application!
Message from our sponsor
A unit of the Arizona State University Enterprise,
Thunderbird School of Global Management has been the
vanguard of global leadership and management education
for over 75 years.
As the world’s premier institution for global recognized by the Financial Times as No. 20
leadership and management for the Fourth in the world for its exceptional delivery of
Industrial Revolution, Thunderbird’s global custom programs in 2023.
community of nearly 50,000 graduates
worldwide, and 15 regional Centers of Thunderbird’s specialized Master of Global
Excellence from Los Angeles to Tokyo, Management program delivers cross-
and Amsterdam to Nairobi, are committed cultural, hands-on training in the nuances
to advancing sustainable and equitable of international management, preparing
prosperity and peace worldwide. students with the perfect balance of practical
and people skills to inspire, influence and
Thunderbird is ranked No. 1 in the world drive global success. Students globalize
for international trade by the 2023 QS their mindset and marketability by pairing
International Trade Rankings, scoring their deep-dive leadership training with
100/100 points and ranking ahead of an innovative concentration area, foreign
Cambridge, Harvard and Stanford. In its language options, practical training,
most recent analysis of master’s in consultative collaborations with corporate
management programs in 2019, Times Higher partners, internships, real-world simulations
Education/The Wall Street Journal ranked and study abroad modules.
Thunderbird’s Master of Global Management
degree No. 1 in the world. Additionally, Find out more about Thunderbird’s
Thunderbird Executive Education was graduate programs here
03
 Master in Management Guide 2024

The Master in Management

cohort in numbers

54% 49%
of MiM applicants have is the average number of
no work experience international students on
the Financial Times top 100
MiM programs

48% 64%
is the average number of MiM students

79%
of women on the come from a business
Financial Times top background, 29% STEM,
100 MiM programs and 12% humanities or
social science
of global companies were
projected to hire MiM
graduates in 2023
Source:
Financial Times Master in Management ranking 2023
GMAC Application Trends Survey 2023 Source: GMAC Corporate Recruiters Survey 2023
GMAC Prospective Students Survey 2023

04 05
 Master in Management Guide 2024
1 2
A curriculum of core
management and
business fundamentals
A Master in Management (MiM) is a generalist
degree aimed at giving students a wide-ranging
understanding of key business fundamentals
such as accounting, finance, data analytics, and
strategy. Business schools also constantly adapt
and update their curricula to prepare students
for the future business world.
For example, on the Master of Global
Management at Thunderbird School of Global
Management, Arizona State University, students
can choose concentrations such as Sustainability
Solutions and Global Digital Transformation.
“I decided to pursue a Master of
Global Management to deepen my
understanding of global markets and
strategies for practicing sustainable
business.”
Gulnaza Suburhojayeva, international student on the
Master of Global Management program at Thunderbird
School of Global Management at ASU
What can you expect
from the Master
in Management
experience?
06
Internships at top
companies
Undertaking an internship during your Master in
Management will give you real-world experience
and build your professional network. If this
is something you’re interested in, look for a
program that includes an internship as part of
its curriculum.
For example, during the MiM at ESCP Business
School, students are required to complete two
internships lasting at least two months.
Christian Koller, an international student from
Germany, secured an internship in the marketing
and strategy team for the New York Red Bulls
—a major league soccer club in New York, owned
by Red Bull. Since graduating, Christian has
worked his way up to becoming vice president
at SPORTFIVE, one of the world’s leading sports
marketing agencies.
“The intercultural and international
business skills I gained during the
Master in Management and my
internship were crucial to getting hired
at SPORTFIVE and advancing my career
at the agency.”
Christian Koller, international Master in Management
student at ESCP Business School
07
 Master in Management Guide 2024
3 4
The opportunity
to network with a
diverse cohort
Networking is a powerful skill to have in your
business career and the network you can build at
business school is a goldmine. Top MiM programs
around the world welcome diverse cohorts so
students can learn to communicate with people
from different cultural backgrounds and develop
a global perspective.
There will be countless opportunities at business
school to forge strong connections such as
through student clubs, group projects working
with top companies, and networking events.
“Every time I engage in a
new extracurricular, I meet new
people, I’m exposed to new
situations, and I have more fun.”
Navdeep Ghothra, Master in International Management
student at Imperial College Business School
08
International
trips
If you want to launch a global career or develop
your international mindset, many MiM programs
embed exciting travel opportunities into the
curriculum. These could be trips to visit companies
in different countries to see how they operate,
or taking part in a global exchange.
While studying the CEMS MiM program, Florian
Meister took part in an exchange semester at
the University of Cape Town Graduate School
of Business.
“For me, it was a trisector of having the
academic, corporate, and social part
of studying combined in one program.
I really liked going somewhere
different to my own city,” says Florian.
He then also completed an internship with Bain
& Company in Switzerland, an opportunity that
arose through the connections he made during
the CEMS MiM.
Florian Meister, participant exchange semester at
University of Cape Town Graduate School of Business
5
Access to careers
services
While studying your MiM, be sure to take
advantage of the business school’s careers
services. You’ll be able to get expert advice
about the right career path for you, crucial
skills training and opportunities to meet
potential employers.
“Networking events hosted by
the career services facilitated
crucial connections with recruiters,
while workshops on interview
techniques and job search
strategies further sharpened
my skills. Securing my current
role as a senior analyst at Ally
Financial demanded commitment,
participation in career fairs,
tailored applications, and rigorous
interview preparation.”
Rafael Rodrigo, Master of Global Management graduate,
Thunderbird School of Global Management at ASU
09
 Master in Management Guide 2024

Where should you study your

Master in Management degree?

Study globally?
If you want a truly international experience while studying a Master in Management degree,
why not study at multiple business schools? Many business schools partner to offer double
degree options or exchange semesters so students can experience life and business in another
country and expand their network further.

For example, the CEMS MiM is a joint master’s program offered at 33 top business schools
worldwide. Students study globally focused courses, have access to the networks of all
participating schools, and study their degree at two business schools.

Business schools that are not part of the CEMS Alliance also offer the chance to take part in
exchange semesters or international trips.

During the Master of Global Management at ASU Thunderbird, students take part in the
Thunderbird Global Challenge Lab. Students have travelled to countries such as Kenya,
Vietnam, Columbia, and across Europe to complete projects with exciting companies.

“My Global Challenge Lab was in Amsterdam

where I worked at the headquarters of ING, one
of the biggest banks in The Netherlands. My team
identified possible recommendations in products,
Master in Management partnerships, and positioning that connect
business goals to societal needs.”
graduates were the Frank Martinez, Master of Global Management student at Thunderbird School
of Global Management at ASU

most hired business

master’s grads
globally in 2022
Source: GMAC Corporate Recruiters survey 2023

10 11
 Master in Management Guide 2024

Study in Europe? Study in the US?

As the birthplace of the Master in Management, Europe is home to 85% of MiM degrees and European
business schools dominate the rankings year after year.
Many students are attracted to studying in Europe due to the easy international mobility it offers.
Daniil Terletskyy studied a double Master in Management degree at ESSEC Business School and the
University of Mannheim Business School. Outside his studies, he’s been on day trips across France and
Germany to locations such as Frankfurt, Normandy, and Champagne. He has also been able to connect
with multinational employers across Europe such as Bain & Company, Capgemini, and Microsoft.
“I’ve had the opportunity to expand my personal
and professional network to an international
level, building strong ties with many different
firms and employers.”
Daniil Terletskyy, double degree MiM student at ESSEC Business School and
The University of Mannheim
Study in China?
For those who are interested in gaining an understanding of both Eastern and
Western management styles, a number of top ranked MiM degrees are located
in China. Students at these study core Master in Management courses covering
business fundamentals but also hone in on the nuances of doing business in China.
Master in Management degrees are enjoying a growth in number and recognition in the US.
In 2023 alone, business schools such as Chicago Booth School of Business, Emory Goizueta
Business School, and UC Davis Graduate School of Management all announced the launch of
MiM degrees.
International students are particularly attracted to STEM-designated MiM degrees in the US,
as they grant them the opportunity to stay in the US to work after they graduate. For example,
the Master of Global Management (MGM) at ASU Thunderbird School of Global Management
offers STEM concentrations in Global Business, Global Digital Transformation, and Data
Science. In 2023, the program welcomed its most diverse cohort yet with 65% international
students from 49 countries.
“I envision my pursuit of the MGM program as a
direct pathway into the robust US job market. My
goal is to land a leadership role in a multinational
company, so it was also important for me to attend
a school where multiculturalism is embraced.”
Elias Madzivire, Master of Global Management international student from Zimbabwe
at Thunderbird School of Global Management at ASU

For example, on the Master of Global Management at Tongji University School The benefits of studying abroad
of Economics and Management, courses include Leadership and Organizational
Behavior in China, Digital Innovation in China, and Business Law in China.

Gain a global Become more Experience a

perspective independent new culture

Build a diverse, Learn about

international business
network challenges
in different
contexts

12 13
 Master in Management Guide 2024

7 factors to consider when

choosing where to study

1 Value for money

2 Scholarship opportunities

3 Cohort diversity

4 Rankings

79% 5 International opportunities

of GenZ prospective students

want to go to business school
to enrich their life and
6 Company connections

develop potential
Source: GMAC Prospective Students Survey 2023 7 Strength of the alumni network

14 15
What are your career prospects
after a Master in Management?
Recruiters value MiM grads…

79% Top functions to which corporate recruiters

want to hire MiM grads:
of corporate recruiters General Product Project
planned to hire MiM management: management: management:
grads in 2023
53% 48% 46%
MiM programs have strong career impact…

$82,758 50%
is the average salary is the average salary
three years after MiM increase MiM graduates
graduation can expect

90%+ 65%
career placement within three of students on average
months is reported by more undertake internships
than 70% of the world’s top while studying a MiM
100-ranked programs degree

Sources:
GMAC Corporate Recruiters Survey 2023
Financial Times Master in Management ranking 2023
17
 Master in Management Guide 2024
Master in Management career tips
During your Master in Management degree you’ll connect with a careers advisor
who will help guide you towards your future goals. They are an invaluable resource
for advice and insights on the best way to stand out in a competitive job market,
gain employability skills training, and make crucial connections with recruiters.
We spoke to b-school careers experts for some insider tips about how to leverage
the Master in Management to get ahead.
Tap into the alumni network
“Tapping into our alumni network means gaining access to a wealth of
real-world insights and experiences. Alumni not only facilitate mock
interviews and networking events but also share first-hand knowledge
about industry nuances, company cultures, and effective job search
strategies tailored to specific countries.”
Angelique Smith, director of career management, Thunderbird School of Global
Management at ASU
Work with advisors to craft a winning resume
“Most resumes are only viewed for six to seven seconds so it’s
important for them to be error-free, easy to read, and impactful. We
work with students one-to-one to help focus on making sure their
resume is applicable to the role, accurate about their experience
and qualifications, and authentic to who they are as a person and
candidate.”
Sheryle Dirks, associated dean for career management, Duke Fuqua School of Business
Attend recruitment events
“The Careers Centre’s mission is to link our talented students with
leading global organizations, giving students exclusive access to
internships, job offers, and graduate management programs in
companies. The European Careers Center organizes more than 800
company events and careers fairs every year for students to gain
exposure to sought-after international companies!”
Eun Paid, Master in Management head of career development, ESCP Business School
18
Career success stories
After graduating from the Master in Management at ESCP Business
School, Zenan He is now project manager for data and digital innovation
at Dior in Paris.
During the program, Zenan landed an internship with L’Oreal where she
worked for six months as a social media and customer relationships assistant.
She then did a second internship with the company as part of the business
analytics and operational marketing team. The internships were vital in
preparing Zenan for her role at Dior.
“The experience at ESCP was really different from what I learned in China.
Courses were very practical and industry professionals came to give lectures.
During my internship, I was the only one who couldn’t speak fluent French
but this challenged me to build relationships and adapt,” she says.
Serwan Roman is an entrepreneur and aspiring management consultant
studying the Master in Management at Sydney Business School.
“I decided to study the MiM because my brother and I started working on
a new project called The Hangar. It’s effectively a multi-purpose hospitality
venue. Due to the size of the project, I wanted to be as prepared as I could
be and so decided to up-skill.
“I think the most rewarding thing about the program is that it doesn’t
just teach you the fundamentals of business theory, but you will undergo
practical experience surrounding strategy, innovation, quantitative analysis
and most importantly, a process of self-reflection where you can really
identify your strengths, weaknesses and biases.”
Serwan also hopes to use his degree to launch a career in management
consulting within the events or sporting industry.
After pursuing the Master of Global Management at Thunderbird
School of Global Management at ASU, Rafael Rodrigo has launched a
career as a senior analyst in compliance at Ally Financial—a US digital
financial services company.
“The MGM program has been instrumental in providing me with the
necessary skills and knowledge to excel in a complex and highly regulated
industry like banking. Moreover, my degree has fulfilled my aspiration for
international exposure while working in the US banking sector, especially
coming from Brazil. The global perspective I gained through the program
has enabled me to better understand and navigate the intricacies of digital
transformation, strategy, finance, and compliance.”
19
 Master in Management Guide 2024

Applying for a Master in

Management: Checklist
Resume
As with any job interview, MiM applications
require you to submit a resume/CV. While a
MiM degree doesn’t require work experience,
aim to give an insight into your academic
qualifications and any experiences you’ve had
that show your leadership skills.
You may also want to include your
extracurricular interests to help differentiate
you from other applicants. However, be
concise, as most programs recommend
keeping your resume to one page.
Academic transcripts
You’ll need to submit proof of any academic
qualifications on your resume. If you haven’t
yet graduated, you may have to get transcripts
of completed modules from your university.
Letters of recommendation
Your letters of recommendation should be
from people who can testify to your strengths
GMAT score
Most MiM programs require a standardized
test score, like the GMAT, to gain an
objective measure of your academic ability.
For candidates applying for a Master in
Management in 2024, you will likely sit the
newly launched GMAT Focus Edition. Make
sure to find out everything you need to
know about the changes to the exam so
you can best prepare.
Application fee
Most schools will have an application fee,
which is usually around $100 to $150.
Interview
If your written application is successful,
you’ll be invited to an interview. This is your
chance to show your personality, how you
align with the school’s values, and what
you can bring to the cohort. It’s also a good
opportunity to ask any questions you may

64%
have about the program.
and weaknesses, such as an academic tutor
or employer. They will provide an outsider’s
perspective on why you’re a good fit for the
program.

Essays
of prospective master’s Your application will include written essays
students want a degree that answering a question set by each business
school. These will likely be related to your
focuses on global challenges motivations and career goals. This is your
chance to really be specific to each business
school and emphasize how its values align
with your own.

Source: Carrington Crisp Tomorrow’s Master’s Survey 2023

20 21
 Master in Management Guide 2024

How to ace your MiM application

5 tips from the experts

1
Be genuine
“Be yourself! We want to get to know you and your story so be
genuine about your successes as well as the times you have faced
challenges. Take the time to reflect on your past experiences
and your goals for the future but don’t worry about not knowing
business…it’s our job to teach you.”

Melissa Rapp, associate dean of

graduate admissions, Emory Goizueta
School of Business

2
Consider your unique contribution
to the cohort

74% “We’re looking for strong, interesting personalities with a diversity

of thought. Our programs are open to all cultures and academic
backgrounds. Consequently, we’re looking for students who have
pushed themselves to think and act differently in these experiences
of prospective master’s students as they will be able to make the most of the richness and diversity
want a program that focuses on offered on our campus, and at the same time be a significant,
relevant, addition to the cohort.”
responsible management
Brice Rabourdin, executive director
of strategy and development for pre-
experience programs, HEC Paris
Source: Carrington Crisp Tomorrow’s Master’s survey 2023

22 23
 Master in Management Guide 2024

3 5
Do your research ahead of the
interview
“Good preparation will help build confidence and often
results in a successful interview. Research the school,
its vision and mission, where their alums work, in which
industries and in what capacity. Research about the
interviewer as well, find out their professional and, if
possible, personal background.”
Dr Lena Booth, deputy dean and Thunderbird
academic enterprise and finance professor,
Thunderbird School of Global Management at ASU
Show your commitment to the school
community
“We want students who have passions, who can share their successes
as equally as their setbacks, who despite any challenges keep going
and see the opportunities in doing so, who are driven for their own
success but also that of others.
“We want students who will balance their academic commitments,
their job coaching and search, with the student clubs, treks,
academic projects, and experiential program elements—which we
know will only help enrich their world view.”
Alexandra Barnett, recruitment
and admission director, London
Business School

4
Make sure your application answers
the fundamental questions
“When applying, applicants need to take some time to think
about some fundamental questions: What are my strengths
and weaknesses? (Not: what would I like them to be?) What
do I want to achieve by doing a MiM? Where do I see myself
after graduation? Having clear plans help applicants present a
compelling picture of who they are, where they are heading,
and why a MIM is critical for them to reach this goal.”

Boban Sulic, deputy director

of admissions, ESMT Berlin

24 25
 Master in Management Guide 2024

The best Master in Management

programs 2024
Business School Country Program Length Tuition ($) Female International Average graduate salary ($) FT Rank QS Rank
(months) Students % students %

Thunderbird School of Global US 24 70,000 45 68 68,000 (base salary, three year – –

Management at ASU not available)

Bayes Business School UK 12 39,100 42 98 62,919 41 –

BI Norwegian Norway 24 10,675 36 8 65,572 89 30

CEMS At participating CEMS Varies depending – – – – – 11

schools on school

CUHK Business School Hong Kong 12 46,600 55 4 52,895 97

Duke Fuqua US 10 62,200 46 – 85,622 (base salary, three year – 20

not available)

EDHEC Business School France 24 43,600 (EU); 50,200 (non- 46 60 104,595 11 15

EU)

emlyon France 24-36 43,600 49 44 101,747 7 13

Emory Goizueta Business School US 10 63,900 – – – – –

Esade Business School Spain 13 37,300 43 93 112,183 8 8

ESCP Business School France 24 23,600 (EU); 27,500 (non- 50 99 102,362 4 6

EU)

ESMT Berlin Germany 24 34,000 40 81 101,809 20 63

ESSEC Business School France 24 41,500 (EU); 46,800 (non- 48 64 108,393 5 2

EU)

HEC Paris France 18 56,600 48 57 129,806 1 1

HHL Leipzig Germany 21-24 38,200 14 32 129,051 34 72

HKU Business School Hong Kong 12 49,800 – – – – –

HKUST Business School Hong Kong 12 49,800 – – – – 47

IE Business School Spain 11 45,900 40 86 89,446 16 4

IESE Business School Spain 11 50,500 43 65 100,835 14

Imperial College Business School UK 12 44,900 – – – – 14

INSEAD France 14-16 52,400 38 – 55,400 – 5

Continued

26 27
 Master in Management Guide 2024

The best Master in Management

programs 2024 (cont.)
Business School Country Program Length Tuition ($) Female International Average graduate salary ($) FT Rank QS Rank
(months) Students % students %

London Business School UK 12-16 54,400 53 98 114,438 3 3

London School of Economics UK 12 46,600 50 45 17

Michigan Ross School of Business US 10 53,615 (residents); 53 12 75,000 (base salary, three year 19
58,615 (non-residents) not available)

Nova School of Business and Economics Portugal 18 12,600 70 88 104,007 34

Nyenrode Business University The Netherlands 12 34,200 45 15 77,748 53 151

Peking University HSBC Business School China 24 16,400 21

Prague Univesity of Economics and Czech Republic 24 10,500 41 59 89,426 18

Business

Rotterdam School of Management, The Netherlands 12 23,750 (non-EEA); 2,700 43 51 108,864 10 16

Erasmus University (EEA)

SDA Bocconi / Bocconi University Italy 24 34,000 38 41 102,910 8 12

Shanghai Jiao Tong University: Antai China 24-36 66 13 111,579 12 62

Stockholm School of Economics Sweden 24 32,200 (non-EU/EEA) 58 64 90,066 19

Tsinghua University School of Economics China 36 12,300 65 18 128,461 6

and Management

University College Dublin: Smurfit Ireland 12 19,100 (EU); 27,400 (non- 44 96 95,666 17 32
EU)

University of St. Gallen Switzerland 18 4,700 (domestic); 11,300 52 94 129,264 2

(international)

Warwick Business School UK 12 44,000 56 96 72,979 28 18

WHU Otto Beisheim School of Germany 21 39,200 51 48 128,392 13 22

Management

WU Vienna Austria 24 54 53 91,718 24 10

This list has been collated from the top 20 business schools in the Financial Times Master in Management ranking
2023 and QS Master in Management ranking 2024 along with BusinessBecause partner schools

28 29
 Master in Management Guide 2024

BB Business
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rank
US
news
rank
QS
rank

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to higher level positions in
their organization
Source: GMAC Corporate Recruiters Survey 2023

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