Masters in Management in France – France ranks amongst the top study destinations in the world, especially for students looking to pursue Master’s in Management (MiM), a cost-effective alternative to an MBA degree. The sombre global business education market in recent times has led to a 3% growth in applications to MiM programs around the world in 2019, while MBA demand was flat, according to the Graduate Management Admission Council (GMAC).
Offered by international business schools and universities in all the countries well known for their higher education system, the MiM courses are the most sought-after in Europe, where this degree originated. Another research conducted by the GMAC found out that 67% of European employers surveyed proposed to hire MiM talent in 2019, compared to 33 % in the US. However, this isn’t discouraging US schools from incorporating MiM programs, since they are considered a way of filling the gap between undergraduate students and those returning to higher education at the MBA level after gaining several years of work experience. The GMAC also lately notified that the number of B schools in the US accepting GMAT exam scores for MiM admissions nearly doubled from 102 to 195 between 2007 and 2016. Talking about France, the nation boasts of 3 out of the 5 top B schools providing MiM programs namely HEC Paris, ESSEC Business School and ESCP Europe.
While the statistics show us a straightforward picture of this rapidly emerging degree, this article discusses the value of pursuing a much sought after MiM degree from a reputable grande ecole of France. Since there are common questions about viability and career prospects after acquiring a Masters in Management degree vis a vis an MBA, we begin with laying down the key differences between an MBA and a MiM, followed by the factors that make France one of the best places to pursue a Masters in Management and the post-course career options available to MiM graduates.
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Masters in Management in France – Should I Opt for MBA or a Masters in Management degree?
For decades, post graduate education in management was held synonymous with Master of Business Administration. However, a new academic degree namely Master in Management emerged in the 2000s in European business schools and has increasingly been picked up by the US schools and acknowledged by employers worldwide. While in the first instance the MiM and the MBA might appear similar, there is a world of difference between the two and it is very important for aspirants to understand it to make an informed choice. MiM programs are postgraduate degrees in general management, just like MBAs. Both require an academic degree first. But this is where the commonality ends. Let’s look at the features that make the MBA and MiM programs differ.
10 KEY DIFFERENCES BETWEEN AN MBA AND A MASTERS IN MANAGEMENT DEGREE
Masters in Management in France – Why is France one of the best places to pursue a Masters in Management?
Political factors – Due to the ongoing political turmoil in the US and the UK, it is not the best time to head out to either of these nations. Though individual preferences and outlook might differ, the French and entire EU markets have reported a healthy intake of MiM graduates. France is currently among the 20 best performing countries in terms of the economy due to their excellent results-oriented higher education learning. The country has a low unemployment rate, around 8.5%. France (apart from Germany and the UK) also has the strongest economy in the European Union (in terms of nominal GDP) currently and there are innumerable job prospects for French MiM graduates both within the country and the rest of Europe.
Low tuition costs – The cost of pursuing a Masters in Management is lower when compared to other management courses like MBA. The lower fee structure in France makes it an even better investment. The average cost of pursuing a MiM course in France is between €2,000-30,000. This when added with promising post-study job options and salaries offers a good return on investment.
Return on Investment – There are many factors how students enjoy an excellent return on investment on their MiM degree in France. Firstly, the tuition fee for Master’s in Management is about 50 percent of fee for traditional MBA program. Secondly, France has one of the best institutions in the EU and the world to pursue this degree. Thirdly, majority of the MiM courses just take 10 months and hardly require any prior work experience. All of these factors help the aspirants get a great name on their CV and accelerate their careers much before most MBA students go to business schools.
High standards of Grand Ecoles in France – A Grande Ecole, the translation of which is “great schools” simply are the most elite and prestigious institutions in France which produce the most in-demand graduates in the Europe’s private and public sectors. When compared to universities in France, the teaching and training standards are much higher at Grande Ecoles and students can find many English taught programs too. Therefore, if you’d like to secure admission in one of the Grande Ecoles, you might have to face a highly competitive selection process. However, graduates have no problem in finding a job.
Opportunity for prestigious internships – The MiM program course work is quite theoretical as compared to its counterpart MBA. Therefore, internships and apprenticeships are a natural part of MiM and provide the much-needed exposure to students professionally and socially.
The requirement of an internship can be fulfilled by the students either during the vacations or by taking gap semesters and gap years. Because of this, generally 2-year MiM program can be extended to 3 or 4 years and the students can do internships while maintaining their status as students. No matter how much the duration of the MiM program extends, the tuition fee is charged for the original 2 years of studies only. While students have the independence to apply for internships all around the world, the comparative popularity of MiM in Europe leads to most students applying within the continent.
Masters in Management in France – Best Business Schools offering MiM Courses
Home to some of the most famous international business schools offering MiM courses – France boasts of 3 out of the 5 top B schools providing MiM programs namely HEC Paris, ESSEC Business School and ESCP Europe. While there are several universities and Grande Ecoles (the most prestigious higher education institutions in France) that offer MiM degrees, the following are the most highly ranked on the QS World University Rankings 2020 in Masters in Management.
TOP 10 INSTITUTIONS OFFERING MASTER’S IN MANAGEMENT IN FRANCE
|Name of Institution & MiM Course||QS World University Masters in Management Rankings 2020||Annual Tuition Fee
|HEC Paris School of Management
(MiM Grande Ecole Program)
|ESSEC Business School
(Master of Science in Management)
|ESCP Europe Business School
Find information here
|EMLyon Business School
Find a full range of courses here
|14||Tuition fee varies according to the program|
|EDHEC Business School
(MiM Business Management/MiM Global Economic Transformation & Technology/MiM Financial Economics)
|15||€15,500 in the first year|
|SKEMA Business School
(MiM Grande Ecole Program)
|Grenoble Ecole de Management
(Master’s in Management, including marketing management, fashion, design and luxury management and a humanitarian program management.)
|38||Find the information here|
|KEDGE Business School
(Grande Ecole Programme)
|Audencia Business School
(MiM Grande Ecole)
(MiM Grande Ecole)
|49||Find the information here|
Masters in Management in France – Post-study career options for MiM degree holders
What employers like? – MiM graduates are looked upon favourably by companies because of their young age which makes them more adaptable to the corporate values of a company. Most MiM graduates are preferred for entry-level jobs in the management industry. Due to a younger age, MiM graduates are able to adapt quickly to different cultures and work environments and are often offered overseas jobs.
Career options – Meant for graduates from diverse disciplinary backgrounds with little or no professional business experience, the MiM helps an easy transition towards a management career for students. The management course in this degree focuses on providing management abilities like analytical, leadership and communication skills, and provides extensive career choices in relevant fields and industries that require an entrepreneurial nature such as marketing, human resource, healthcare, supply chain management, business development, sales, sustainability, public administration and others. However, according to an employment statistics study by HEC Paris, consultancy and finance remain the two main sectors that employ MiM graduates. The next big sectors are high technology, consumer goods and food, industries and utilities, and media, leisure, and tourism. MiM graduates may expect the companies to recruit them in a variety of roles like analysts, project leaders and managers.
Salary and pay scales – The average salaries of MiM degree holders in Europe are around $75,000 (€68,000) and $61,000 (€54,200) in the USA. Couple this with an employability rate of 97% within four months after graduating and MiM degrees make for a great stepping stone for a bright career.
With a volatile international job market, the prospect of investing in an MBA can be daunting and a strain on the resources. In such a scenario, students can make the best use of their time by opting for a Masters in Management. It may not be as fancy as an MBA but a MiM ensures that students have all the skills necessary to increase their employability.
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Masters in Management in France – FAQs
Q. Is pursuing a Masters in Management a good option?
A Masters in Management is a good option for young graduates. The course structure of MiM (mostly theoretical) is aimed at increasing the employability of students which helps them in establishing a foothold at entry levels in the industry of their choosing. The subdued global business education market has resulted in a 3% growth in applications to MiM programs around the world in 2019, while MBA demand was flat, according to the Graduate Management Admission Council (GMAC).
Q. When do applications open for MiM courses in France?
Most universities in France commence their sessions in January and or September. For more information on universities, scholarships and application process you can contact the counsellors at Buddy4study.
Q. How long does it take to get a French visa?
The time taken to process a visa application depends entirely on the consulate, the location of application and the documents provided. As an estimate, it can take anywhere between 2-15 days.
Q. What are the documents required to get a French visa?
Some of the important documents that will be needed during a visa application for France are
- Valid passport
- Cover letter
- Proof of funding
- Proof of accommodation
- Medical insurance
- Flight Ticket
Q. Is there is a post-study work permit in France?
Yes, students pursuing courses lasting for more than 9 months are allowed an additional 12 months of stay with the provision of extension for another 12 months.
Q. Is living in France expensive?
The cost of living in France while studying varies from region to region. An estimate of the cost-
- Accommodation – € 200-700
- Healthcare – € 380-750
- Compulsory medical insurance – € 130-715 cost depends on the age of the student.
- Food – € 130-150
Q. What is the cost of pursuing a MiM from France?
The cost of pursuing a Masters in Management in France can vary depending on the institute and the length of the course. However, students looking to pursue a MiM can expect tuition fee costs to be between €2,000-€30,000.