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What is the IE MiM Review?
The IE MiM Review is useful for people who want to gain a quick understanding of the MiM program at IE and understand if it would be a correct choice for them. Apart from a brief review of the school, data about the IE MiM application process, the class profile and placement statistics upon graduation are presented.
The IE MiM program ranks 3rd worldwide, showcasing its standard of education. IE is a very well regarded name in international circles. Its MBA program is very well known and is famous for its innovativeness. IE is a pretty young school which was just founded in 1973, in 40 short years it has grown by leaps and bounds and now boasts about being in the top 10 MBA, MiM, and Masters in Finance degrees. It is a school which is also very well known for its entrepreneurial spirit and innovative teaching methods. Founded by entrepreneurs, the schools is always pushing the limit and is the forerunner in creating novel methods of teaching, as well as new programs to suit the new generation. It is a very well regarded school in Europe and being situated in Madrid makes it a very desirable study location. Be ready for a fast-paced 10 months if you choose IE for your MiM, rest assured you won't regret it.
IE offers a variety of Business studies programs, its Masters programs aimed towards young professionals are:
- IE Masters in Management - Ranked No. 7 worldwide by the Financial Times 2016, A 10-month program to kick start your career in the business world, aimed at graduates with 2 years & below of work experience. It is one of the flagship masters degree offered by IE. One has the choice to take up an optional specialization course for another 10 months after completing the MiM. Also, the MiM can be fused with the MiF.
- IE Masters in Finance - An excellent choice for graduates with a passion in the field of finance. Ranked No. 3 worldwide by the Financial Times 2016, this program is available in Full-time format and is for 10 months in duration. Excellent for people with a passion for Finance, it is also one of the best universities to get entry into the investment banking sector. Also, prior experience in Finance is not obligatory for this degree.
IE MiM is quite customizable and offers a variety of paths to its students, it really has something for everybody. Some of the most interesting features of the degree, that we found were:
- Ranked 1st worldwide as the best Business School for Entrepreneurship by Financial Times 2016.
- IE Business school holds 4th rank in Europe as per Financial Times 2016.
- Studying shoulder to shoulder with students from the 5th best MBA school in the world. IE also offers amazing Masters of Finance and executive masters programs. So networking opportunities are huge.
- It is one of the very few MiM schools that has 2 intakes. One in Spring (Jan-Feb) and one in Fall (Aug-Sep).
- A chance to club the IE MiM with the popular IE MiF degree. The masters in finance can be opted for on completion of the MiM.
- Studying in Madrid! The 3rd biggest city in Europe and a big cultural and economic hub.
- Exposure to a spirit of entrepreneurship via Venture Labs. Where students have the unique opportunity to develop their business plans in an encouraging and mentored atmosphere.
IE offers 5 different specializations options
A choice between 5 different specializations in the last leg of the MiM as mentioned below: -
- INTERNATIONAL BUSINESS
The International Business specialization will teach how to meet the challenges of a business situation that has become increasingly worldwide.
- INTEGRATED MARKETING COMMUNICATIONS
Integrated Marketing Communications offers the knowledge necessary for the efficient application of continuous and reliable brand messaging across a mix of marketing channels.
- SALES & MARKETING
This specialization will focus on giving you the appropriate skills to become effective and successful sales and marketing manager.
- DIGITAL BUSINESS
This specialization will allow you to develop a deeper understanding of how companies successfully manage the myriad of challenges and opportunities that arise through greater technological development.
- FINANCIAL MANAGEMENT & CONTROL
Financial Management & Control specialization helps to build a strong foundation of reporting procedures to tackle tomorrow’s financial management challenges.
You can also opt for a dual specialization at IE or go for an exchange program in a partner university, though this would extend your course to almost 18 months.
Next, in the IE Masters in Management Review, we are going to look at the eligibility criteria and application process of IE.
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Constituents of Application Package
- Online application form.
- Application Essays: 3 main essays and several short questions.
- GMAT/GRE/ IeGAT.
- One page CV.
- 2 Letter of recommendations (Very different format from the conventional LOR).
- A copy of college transcript & UG diploma.
- A photo & passport copy.
- IELTS, TOEFL, Cambridge CPE, CAE or PTE Academic score (for some international students).
- Application fee of 125 Euros.
Next, in the IE Masters in Management Review, we are going to look at some relevant details about the MiM program as well as the employment opportunities after graduation.
Duration: 10 months.
Location: Madrid, Spain.
Tuition Fees: 32,200 Euros.
Living Expenses in Madrid: 800+ Euros/ Month.
Fellowships and Merit scholarships( covering up to 50%) can be applied for once the online application has been submitted.
Check more information about them here.
Application deadlines: Rolling admission procedure, though it is advisable to submit your application as early as possible.
There is no specific start or end date for the application submission.
Class Profile at IE
- 55 nationalities on the program.
- 66% international students.
- Professional Experience : Average 1 year.
- Age range: 21 - 25 years.
- Female intake: 38%.
- 47% International Faculty.
- Total no. of students: 447.
Average Salary of 41,300 Euros.
3500+ companies worldwide recruited IE students.
93% accepted a Job offer within 3 months of graduation.
Sectors students were placed in:
Sector % Placed Finance 20% Consulting 16% Marketing/Sales 41% Operations 7% General Management 9% Others 1%
Some notable companies recruiting from IE
Finance: Deutsche Bank, PwC, AXA, Bloomberg, Credit Agricole CIB, EY.
Consulting: McKinsey, Accenture, AT Kearney, Roland Berger, Deloitte, BCG.
Corporate Sectors: Google, Ford, L'Oreal, Burger King, LVMH, Unilever, Vodafone, P&G, Roche, Cartier.
Download the full report here.
Lastly, in the IE Masters in Management Review, we are going to look at the application essay questions.
APPLICATION ESSAY INSIGHTS
Skills which IE values
Some skills which we feel IE really values and wants its future students to reflect are:
Be sure to mention in your application essays how you exhibit these skills, and back them up with relevant examples.
The IE application lives up to the innovative outlook of the school. The essays requested by IE are very different from those of other conventional schools. So how are they different?
1) You are given 12 essay topics to choose from! You have to choose 3 out of them and submit them online
2) Unlike other schools, you have the option of submitting your essay in a video, poetry, photography, drawing, animation or presentation format. Well so you can imagine, IE is really looking to awaken that creative part of you
You are more than welcome to try any of these methods, but if you plan to stick to the written essay format you have to make sure the each essay is in between 400 - 600 words. Also, one essay in written format is compulsory.
Here are the essay questions from IE
A.If you had the opportunity, what actions would you demand of the United Nations Secretary-General and why?
B. Describe the situation with the greatest ethical complexity that you have faced in your professional or academic life, and how your input helped resolve it.
C. Describe a time when you took a great risk. What was the outcome?
D. Cite at least one example of when your leadership had an impact on or changed a certain situation, and justify how an IE Master’s Degree program would help you to strengthen or improve this competence.
E. Describe the most outstanding leader you have worked with. Indicate some aspects of the way you work that are similar to the way this leader works and others that are different.
F. You have just participated in an important meeting with your superior. How will you ensure that every part of the instructions you received will properly reach all subordinates, suppliers, and clients, located in different parts of the world?
G. Do you think that the lifestyle of the inhabitants of your town or city reflects behavior that is in line with the concept of sustainable development? In your opinion, what should be improved?
H. What do you believe are the greatest challenges facing the sector or industry you would like to specialize in at IE? What role do you hope to be able to play in this sector or industry in the medium term?
I. Show us an activity you enjoy doing. Tell us how you think it contributes to your personal and professional development
J. How do you imagine social interaction within 10 years, taking into consideration the impact of technology on human relations?
K. If all of the world´s cultural heritage (sports, music, fashion, architecture, literature, painting, etc..) was contained in a time capsule, what would you include to demonstrate the legacy of your country?
As you can see, you are spoiled for choices, additionally, the topics vary vastly and you can have a tough time zeroing on which topics show you in the best light. It would be a challenge connecting your personality and thought process with such abstract topics, but this is what makes this admission process truly unique. It has a way to bring out and analyze your inner most thoughts.
Also, the topics are designed to make you introspect, so creativity in content and presentation can win you some extra points.
On the flip side, do not lose sight of the big picture and remember you have to highlight your strength and how you can make a positive impact in the incoming batch of IE students.
But wait it isn't over yet!
The admission committee at IE really wants to know how you are as a person and what are your motivations for joining the school.
It is not content to poke out these answers via the essays, it has a different section altogether with more direct questions such as:
- Choose the reason(s) that most influenced you to apply for admission to IE.
- How do you want to direct your professional career in each of these levels during the months after finishing your program?
- Have you been involved in any of these ways of promoting sustainable development?
- At what age did you first earn money from anyone other than your direct family? How did you earn it?
- Describe yourself in three words.
- Indicate with three words how you believe your colleagues/classmates would describe you.
There are also some personality based questions with rating bars such as-
- I see myself as
- I would like to be a more
As we said before, pretty comprehensive. Though this may look like an overly critical application, it is a good way to ensure the quality of students in the MiM batch. So make sure you choose your essay questions wisely. Make sure you refine it a number of times and have it read by a number of people, so as to catch any errors you may have missed.
We hope the IE MiM Review was able to provide you with ample information about the MiM program offered by IE Business School. All information has been sourced from the IE website, for more information you can visit the official website.
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