Dr. Martin Boehm, Associate Dean of the MSc in Management Programs and Professor of Marketing at IE Business School, about why the IE Master in International Management (MiM) is not in the Financial Times Management Master Ranking 2010 and why talented student should still decide for IE.
The Master in Management of the IE Business School is not in the Financial Times Ranking for Masters in Management 2010. Why not?
In order to participate in the FT ranking, a Master in Management program has to have run for at least four years and have graduated its first class at least three years before the ranking publication date. We recently started our third intake of the Master in Management at IE Business School. Once we have this precedent, we are confident that we will achieve a good position in the FT survey.
Why should someone still decide for the Master in Management at IE Business School given that there are 65 MiM-programs already evaluated by a detailed ranking-procedure?
We believe the Master in Management at IE Business School provides a unique experience which is unprecedented in the pre-experience market. We set ourselves apart from the majority of MIM-programs with our dedication to career development, innovative teaching, and a personalized learning experience. Let's face it - at least one reason why students attend business school is to enhance their career prospects. The Master in Management at IE Business School is designed to provide students with the competitive edge to succeed in the job market.
How exactly are you doing this?
From day one, IE will be working closely with students to support them as they define a strategic vision of their own professional development. Activities, such as CV workshops, personal branding seminars, simulated interviews as well as networking events with a large variety of companies, are aimed at maximizing students’ employability and market value.
In the Master in Management at IE Business School we employ a host of innovative learning tools and methods that redefine how business is studied and how insights are shared. Whether through our multimedia simulations or case study discussions, students will experience what business situations are really like, instead of just reading about them in a textbook. In addition, students work on several consulting projects advising companies on real-life management issues.
What else does the IE Master in Management offer?
Our Master in Management offers a host of options which allow students to personalize their education in order to maximize its benefit based on their interests, needs, and aspirations. As a consequence, the program includes a Specialization Period as an integral part of the program. Students can also participate in an international residential week in cities like Shanghai, Milan or Silicon Valley.
Do you aim to be in that ranking and, if yes, when do you expect to be included?
In order to participate in the FT ranking our program has to be launched for at least four years. As we recently started our third intake of the Master in Management at IE Business School, we will be eligible to participate in the next edition of the ranking.
Who do you target with this program and how does the “typical” MiM-student at the IE look like?
The Master in International Business at IE Business School is aimed at young graduates at the early stage of their professional development (0-3 years) with a diverse background in terms of undergraduate degrees. The ideal candidate has all the qualities and characteristics that will make them a successful participant and a unique member of their work group, the program in general, and the business world after graduation. Hence, our admissions committee rigorously evaluates aspects such as the student’s leadership potential, teamwork skills, critical thinking skills, and the capacity to undertake a competitive program.
The tuition fees of 28,200 € are at the upper end of Master in Management programs – do you offer financial aid for students who passed your application process but simply lack the funds?
Candidates, who are successful in IE’s admissions process, have various financial aid options available to assist them with the cost of pursuing a Master in Management. At IE Business School, we want the best possible students to join our program – whether they have the financial means to pay for the program or not. The Financial Aid Office at IE Business School therefore works with each candidate individually in order to indentify all possible sources of funding.
How does this financial support work concretely?
To make our Master programs more accessible, we offer funding assistance through the following: first, agreements between IE and leading Spanish banks to offer our students loan packages with preferential conditions. Said loans can be requested at no cost to the student. The decision on whether to grant it or not is entirely up to the bank; and second, the IE Foundation promotes access to education through a wide range of scholarships, both internal and those offered jointly in agreement with external Institutions.
What do you tell people who are looking for a postgraduate management education but are unsure whether to decide for a Master in Management or an MBA?
The Master in Management at IE Business School is a program for recent graduates who are at an early stage of their career development and have less than three years of relevant work experience. The MBA on the other hand is aimed at more experienced individuals who are looking to take their career to the next level.
Who has better career chances - MiM or MBA graduates?
The Master in Management at IE Business School is designed for brilliant and ambitious young professionals who don’t want to wait several years to supplement their education with an MBA, but instead want to embark on their career with a head start.
We have seen that graduates from the Master in Management might even have an advantage over MBA graduates in the labor market when multinationals are specifically searching for high quality candidates who are still at the very beginning of their career. In the end, each candidate has to decide which program is best suited to his or her specific needs, circumstances, and professional aspirations.
What are your personal goals as Associate Dean of the Master in Management Programs regarding the development of the Master in International Management?
IE Business School has always been at the forefront of innovation in terms of teaching methodology and program content. As the Associate Dean of the Master in Management Programs it will be my primary goal to continue to innovate in order to provide our students with a truly life-changing experience.
