The European School of Management and Technology (ESMT) is based in Berlin and one of Germany's strongest business schools. In September 2014, they start a new Master's in Management that may be attractive for German and international students equally. We talked to Jolene Monson to find out more about that MIM program.
MIM COMPASS Interview
By Thomas Graf
Why did the ESMT decide to launch a Master in Management (MIM)?
Jolene: In Europe, the pre-experience Master in Management has become an established degree for high-performing students interested in entering the business world. Since the Bologna Process took effect, the number of European students looking for a master’s degree away from their first university has increased immensely.
ESMT has already launched successful MBA, EMBA, and Executive Education programs. Discussions with our corporate partners made it clear that there was significant demand from their side for younger talent, particularly for people who have both a technical ability and some business exposure. As ESMT has already gained considerable expertise in international, interdisciplinary, and intercultural study methods, we felt ideally placed to marry the needs of international business with ambitious Bachelor’s graduates looking to hone their business and analytical acumen.
What’s different compared to other MIM programs?
Jolene: We designed the MIM program in coordination with our corporate founders, many of whom later signed up as official internship partners. We have a total of 12 partners now, with names such as McKinsey, Allianz, Siemens and E.ON among the first to sign. We spent a lot of time discussing what companies need in new employees, how new employees spend their first years at a company, and what knowledge and skills young professionals need most to succeed. We then designed the program around what we felt were the key learning outcomes from this research.
The ESMT MIM takes an analytical approach to management: graduates will know how to analyze different kinds of data sets to make business decisions, whether in marketing, operations, or new product development. We work with students to find two internships during the program, and we organize a social impact project. All students study a foreign language in the program – with the goal of full fluency in German for international students. All of these program aspects were added in order to ensure that students are as competitive as possible on the job market and have the right tools to succeed in their first jobs after graduation.
Who is this MIM program for?
Jolene: We target recent graduates with strong quantitative abilities, especially those with a first degree in natural science, engineering, mathematics, economics, or other technology fields. Students should also be interested in international careers. Because ESMT has small class sizes, we’re also looking for people who have had a very close look at our school and who share our dedication to developing and growing.
What are the chances of finding a job after graduation, also if you come from a non-European country?
Jolene: Any graduate from the ESMT MIM program should be in an excellent position to find a job. The program integrates two internships into the program (the first for 6 months and the second for 4 months). Internships and other student work is the top hiring method used by German companies.
Non-German students must also learn German during the program, which dramatically increases employability in Germany and German companies. Graduates from outside the EU who earn their Master’s Degree in Germany benefit from very friendly visa regulations. It is relatively easy to stay in Germany to find a job – and get hired without a company having to complete endless hours of expensive immigration paperwork.
What kind of financial support do you offer?
Jolene: ESMT has a limited number of partial tuition scholarships for top candidates applying to the program. Applicants find out if they have received a scholarship when they receive their admissions decision. In addition, we expect our internship partners to pay standard internship wages which will help offset living costs during the internship period.
What are the most important requirements for this course?
Jolene: In this program, our professors will stress how quantitative analysis can drive global business decisions and innovation. Therefore, students must show strong abilities in mathematics, statistics, and other quantitative analysis skills, either in previous coursework or a very strong quantitative score on the GMAT. But we are also looking for strong candidates who can work well in high-stress situations. So an applicant’s essays are perhaps the most important part of the application, as it gives us an idea about their personality and working style.
What’s the best time to apply?
Jolene: Our final deadline is May 16, but we welcome early decision applications. The first applicants to the program have already been admitted. We accept applications on a rolling basis until May, after which time we will only accept late applications if places are still available or if accepted candidates withdraw.