Masters (MS) in Business Management Abroad: Top Universities, Syllabus, Salary, Career Paths and More

An MS in Business Management is a highly specialized degree that is becoming very popular as a hybrid of MBA (Master of Business Administration) and an MS in Data Analytics. 

You get the best of both worlds with a Master’s in Business Management–the managerial skills from an MBA, and the skill to analyze data scientifically, like you would with an MS in Data Analytics.

Most Master’s in Business Management programs span 1 to 2 years of full-time study, but longer part-time options are also available. Your course curriculum would be extremely varied, covering a wide range of topics. You’ll study modules on organizational design, management, data analytics, human resources (HR), logistics, and more. That said, most MS in Business Management programs allow you to choose many electives, allowing you to specialize in a particular field. 

The market for jobs after an MS in Business Management is also quite lucrative, as employers value the skills of an analyst and a manager, and they get both in a business management graduate. We’ll cover specific job roles, companies and salaries later on in this guide. 

For now, let’s begin by learning the best countries to study this program in.

Top countries to study an MS in Business Management

According to the 2024 QS World University Rankings by Subject (Business Management), these are the countries you should be considering. 90%+ of the top universities for an MS in Business Management are concentrated in these countries.

1. The USA

The USA is the most popular destination for students who wish to pursue an MS in Business Management. As per the 2024 QS Rankings, 25 out of the top 100 universities for an MS in Business Management are in the USA. In other words, 1 in every 4 of the best schools in the world for Business Management are in the United States. 

The USA is home to prestigious schools such as Harvard, Stanford, MIT, and Yale, among others. Additionally, remember that in the USA, most MS programs are STEM-designated, which allows students to extend their OPT (Optional Practical Training) period by 24 months. This means that alumni of the MS in Business Management can work in the USA for up to 36 months after graduating.

2. The United Kingdom

The next best choice for an MS in Business Management is the United Kingdom, with 16 of the top 100 universities located here. Many of the world’s oldest and most respected universities are located here, such as Cambridge, Oxford, Imperial College London (ICL), and the London School of Economics (LSE). 

Additionally, many universities (ICL, LSE) also offer a Master’s Certificate in Business Management, for those who have already completed a postgraduate degree. The UK is often many people’s first choice because pursuing an MS here is relatively cheaper than the USA, without sacrificing quality of education.

3. The People’s Republic of China (Including Hong Kong SAR)

When you club China and the territory of Hong Kong together, 8 of the world’s top 100 MS in Business Management universities are located here. Some of the top schools include Tsinghua University, The Hong Kong University of Science and Technology, and Peking University. An enticing factor for many is the affordability of tuition and living in the country.

4. Australia

Tied with China is Australia, with 8 out of the top 100 schools for an MS in Business Management. Schools like the University of New South Wales (UNSW), the University of Melbourne, and the University of Sydney are located here. Australia has long been a top choice for Master’s degrees, offering two-year work permits and a clear path to residency. 

5. Canada

And last but not least we have Canada, with 5 out of the top 100 universities, ranked for the MS in Business Management program. Just like the USA and the UK, Canada hosts a lot of heritage universities, like the University of Toronto, the University of British Columbia, and McGill University. It is also a very immigrant-friendly country, and degrees from here are held in high regard all over the world.

Those were the top countries for an MS in Business Management. Next, let’s learn about the best universities for MS in Business Management programs.

Also Read: Study Abroad Guide for Indian Students 2024

Top universities in the world for an MS in Business Management

Here is the list of the top 50 universities for an MS in Business Management, according to the 2024 QS World University Rankings.

Note that the University of Sydney offers both a Master’s in International Business Management program and a regular MS in Management.

Let’s learn a bit more about some of these great universities.

1. Massachusetts Institute of Technology (MIT)

MIT Sloan’s MSMS program is a nine-month, full-time master’s degree in management. It’s for graduates or current students from partner schools. This program offers advanced studies in management and lets students customize their curriculum based on career goals. Despite its short duration, it’s a full master’s degree, not just a certificate. 

The program includes over 120 electives and focuses on leadership, innovation, and collaboration. Students live and study in Cambridge, MA, and have access to MIT’s resources and alumni network. Financial aid is available through fellowships and loans. Applications open on November 1, with a $100 fee.

Location: Cambridge, Massachusetts

Established In: 1861

Program Name: Master of Science in Management Studies (Business Focus)

Program Duration: 9 Months

Admissions Deadline: February 15 each year

Tuition Fees: $84,350 for international students

2. The University of Cambridge

The MPhil in Management at Cambridge Judge Business School is a nine-month, full-time master’s degree designed for individuals with no prior business or management studies. Starting in October each year, this program covers accounting, strategy, and leadership, among other things. Students benefit from tailored electives, real-world projects with leading companies, and focused workshops.

Location: Cambridge, UK

Established In: 1209

Program Name: MPhil in Management

Program Duration: Nine months

Admissions Deadline: February 25 each year

Tuition Fees: £36,744 for both home and international students

3. Tsinghua University

The MiM program at Tsinghua University School of Economics and Management (SEM) is a two-year, full-time master’s degree targeting pre-experienced undergraduates. Starting in September, the program focuses on leadership, general management, and analytical skills, preparing students for key managerial and leadership roles. 

Location: Beijing, China

Established In: 1911

Program Name: Master in Management (MiM)

Program Duration: 2 to 3 years, full time.

Admissions Deadline: Late February

Tuition Fees: RMB 35,000 per year

With those examples, you will now have a good idea of the deadlines, durations, and cost of an MS in Business Management. Next, we’ll take a closer look at the specific things that you will learn as a part of this degree.

Course curriculum for an MS in Business Management

Before we begin, note that each university will tailor their curriculum, as an MS in Management is a highly specialized program. However, there are a few courses that you are bound to cover during this degree. We have listed these common courses below:

Remember, you will have the freedom to choose many elective courses, and not all universities will teach all of the courses listed above. 

With that said, let’s now learn about the admissions requirements to study an MS in Business Management.

Eligibility for studying an MS in Business Management

Just like with the course curriculum for an MS in Business Management, universities may have specific requirements for their programs. Always check with your target university for any of these custom eligibility criteria.

Here are the basic requirements for most Master’s degree programs in Business Management:

1. You need to have a three or four-year undergraduate degree from an accredited (recognized) university.
2. If your transcripts are not in English, you’ll usually need to get official translations done.
3. Your undergraduate GPA needs to be 3.0 or higher, averaged across all years of study.
4. You will need to submit two letters of recommendation for admission, along with an updated resume.
5. International students will also need to submit results of an English proficiency exam, like the IELTS, TOEFL, or PTE Academic.
6. Additionally, you may be required to give an interview and submit a statement of purpose (SOP) for admission. You can view a sample SOP for an MS in Business Management here.
7. Certain universities may also have minimum work experience requirements (usually two years), so remember to ask about those.

Remember that these are just the bare minimum requirements—top universities usually have much higher standards. In the next section, we will outline the GRE and GMAT requirements for an MS in Business Management.

Also Read: MS in USA for Indian Students in 2024: Fee, Careers, Salary & Universities

GMAT/GRE Requirements for studying an MS in Business Management

Many MS in Business Management programs in the USA ask for a GMAT or GRE score, but they don’t have minimum score requirements.

Applications are reviewed holistically, on a case-by-case basis. That is why a low GMAT or GRE score isn’t a big issue if other parts of your application are strong.

Some schools may waive the GMAT or GRE requirement if you have an undergraduate degree in a quantitative field like math or computer science. However, if your degree is not in a quantitative field or your GPA isn’t strong, it’s a good idea to submit a GMAT or GRE score.

Also, keep in mind that some financial aid programs may require GMAT or GRE scores. Make sure to research this thoroughly. We’ll discuss more about financial aid in the next section.

Scholarships to study an MS in Business Management

The cost of studying an MS in Business Management abroad can quickly escalate when you add up all the indirect costs such as travel, boarding, lodging, books, etc. That is why many students look for scholarships and grants to fund their education.

Many public bodies in India offer scholarships and financial aid for Indian students looking to pursue a Master’s abroad. Some examples of these awards are given below:

Also Read: Best Scholarships for Indian Students in USA in 2024

That is why you’d have a better chance getting financial aid from your target universities, many of whom have their own financial aid programs. Some examples of these university-specific scholarships are given below:

And remember that most international students also work part-time to fund their studies, so that is also an option. In fact, most universities allow their internationals to work on campus as teaching assistants, or in graduate assistantship (GA) positions. 

However, it’s important to note that scholarships are highly competitive and often only cover tuition fees. This means that students still need to fund other significant expenses such as living costs, travel, and course materials.

This is where FundRight can be a game-changer. FundRight connects you with 15+ top lenders, including banks and NBFCs in India and abroad, offering competitive education loans tailored to your needs. Whether you need a loan with or without collateral, FundRight helps you find the best offers, ensuring you get the lowest interest rates and most flexible repayment terms available.

Here’s how FundRight works:

1. Create your profile on FundRight with all necessary details.
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5. Get your loan approved and disbursed within as little as 10 days.

With FundRight, you can secure the financing you need to make your study abroad dreams a reality. Start your education loan journey today, and be well-prepared for Spring ’25 admissions.

Career scope of Business Management

An MS in Business Management is the perfect choice for recent graduates or early-career professionals. The degree provides a broad scope that opens up many opportunities in diverse sectors.

Here are some of the benefits of the program:

1. The skills gained from this degree prepare you for managerial and leadership roles, making you a strong candidate for promotions and new opportunities within your organization.

2. You will be equipped to work in various industries such as finance, marketing, operations, and consulting. 

3. The versatility of the program allows for easy transition between different roles and sectors.

4. In most countries, you will be eligible for a post-graduate work visa of at least two years (extendable to 3 in the case of the USA and China).

5. This degree lays the groundwork for pursuing an MBA or other specialized master’s programs, giving you an edge in competitive applications.

6. You get to engage with peers, professors, and industry professionals who can provide support, mentorship, and career opportunities.

Overall, the skills you learn are valuable across various sectors, including finance, marketing, operations, and human resources. That is why the scope of an MS in Business Management is considered to be very broad and versatile.

In the next section, we’ll explore the top companies that hire MS in Business Management graduates.

Also Read: Top Universities in the USA for MS in Computer Science 2024

Top recruiters for graduates of the Master’s in Business Management program

Here are the top companies that recruit graduates of MS in Business Management programs:

• Tesla
• Goldman Sachs
• Pfizer
• McKinsey & Company
• Apple
• Deloitte
• IBM
• JPMorgan Chase
• Boston Consulting Group (BCG)
• Procter & Gamble (P&G)

We’ll talk about specific positions and their related salaries in the next section.

Job prospects and salaries offered after studying an MS in Business Management

In this section we will outline what jobs students work in after graduating from an MS in Business Management program.

Here is a table of the most common job roles and accompanying salaries for those roles:

*Salary data is for the USA, and for fresh graduates (no experience).

We have sourced the above data from the class profiles of the top schools on the 2024 QS World University Rankings list. Salary data is accurate at the time of writing (may change), and is sourced from Glassdoor.

And with that, we come to the end of this article about studying an MS in Business Management. We hope you found it useful, and we’ll see you in the next one.

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