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Embarking on a Master in Management (MIM) journey at INSEAD is an exciting prospect for students seeking a top-notch business education. As you plan for this transformative experience, it's essential to have a clear understanding of the INSEAD MIM fees involved, including tuition, living expenses, scholarships, return on investment (ROI), part-time job opportunities, and visa work hour restrictions. In this blog post, we will delve into these aspects to help you make informed decisions.
INSEAD MIM Tuition Fees
Tuition fees for the 2024 MIM intake at INSEAD are €52,500.
When it comes to pursuing the INSEAD MIM program, understanding the tuition fee is crucial. For the Class of MIM 2024, the INSEAD MIM fees is €52,500, encompassing a range of valuable services and resources that enhance your educational journey.
Firstly, the fee covers all the printed course materials you'll need throughout the program. You'll have access to up-to-date readings and resources that are directly relevant to your coursework, ensuring you have the necessary materials at your fingertips.
INSEAD's library is also included in the tuition fee. It's a treasure trove of academic journals, books, and research materials, providing you with ample resources to support your studies and deepen your knowledge in various fields.
To ensure you have a seamless learning experience, the fee grants you access to the university's information technology services. From online learning platforms to research databases and software resources, you'll have the digital tools necessary for your academic success.
Your tuition fee also contributes to the vibrant student life at INSEAD. Student council fees are covered, allowing for the organization of engaging events, clubs, and extracurricular activities. These activities foster a sense of community and provide valuable opportunities for networking and personal growth.
| Fee Component | Cost (€) |
| tuition fees | 52,500 |
What your tuition fee includes
INSEAD MIM Tuition fees cover all printed course materials, access to the INSEAD library, access to on-campus information technology services, student council fees, gym access, business cards, printing and health insurance.
Navigating Living Expenses in France
Managing your finances during your time at INSEAD is crucial, and understanding the estimated living expenses can help you plan your budget effectively. Here is a breakdown of the average expenses you can expect during the INSEAD MIM program:
- Accommodation: Renting accommodation is a significant part of your living expenses. INSEAD students typically opt for renting studios or sharing apartments/houses. In Fontainebleau, the average cost of accommodation is around €4,600, while in Singapore, it is slightly higher at €5,100. Keep in mind that rental prices in Singapore can vary considerably.
- Local Transport: Getting around campus and exploring the surroundings will involve some transportation costs. Both the Fontainebleau and Singapore campuses offer convenient access to public transportation. In both locations, you can purchase metro and bus cards, with an average monthly cost of approximately €600 in Fontainebleau and €745 in Singapore. Additionally, the Fontainebleau campus is within walking distance from the town centre, making it easy to save on transportation expenses.
- Food: Budgeting for meals is an essential aspect of your living expenses. Both the Fontainebleau and Singapore campuses provide affordable meal options at their cafeterias. On average, students spend around €3,000 in Fontainebleau and €2,300 in Singapore for food throughout the program. Of course, personal eating habits and preferences will affect individual spending.
- Field Trips (Abu Dhabi/China/USA): The INSEAD MIM program often includes field trips to destinations such as Abu Dhabi, China, or the USA. These trips require additional planning and budgeting for travel, accommodation, and meals. The estimated cost for field trips is approximately €2,100, though it may vary depending on the specific destination and personal choices.
| Expense | Cost (€) |
|---|---|
| Accommodation | 4,600 |
| Local Transport | 600 |
| Food | 3,000 |
| Airfare | 1,100 |
| Field Trip | 2,100 |
| Total Estimated Expenses | 21,545 |
Scholarships & Financial Aid at INSEAD
INSEAD offers various scholarships to support students pursuing the MIM program. These scholarships provide financial assistance and recognition for outstanding achievements. Here are some of the scholarships available:
- Diversity Scholarship
- Singapore Scholarship
- Achievement Scholarship
- Indonesian Alumni and Friends Scholarship
Financial aid & loan options
Beside INSEAD’s scholarships, a number of global funding schemes and national funding sources are available for you to explore. The national funding sources include list of organizations and banks that to the best of our knowledge offer loans or scholarships for the INSEAD programme
Opportunities for Part-Time Work
While pursuing the INSEAD Master in Management (MIM) program, students have the opportunity to engage in part-time jobs, which can provide valuable work experience and help supplement their finances.
INSEAD, being one of the prominent MIM colleges in France, offers a range of on-campus job opportunities for students. These may include positions such as research assistants, teaching assistants, campus ambassadors, or administrative roles within different departments. The earnings from on-campus jobs can vary depending on the nature of the role and the number of hours worked. Typically, students can expect to earn an hourly wage commensurate with local standards.
Many students choose to undertake internships during their MIM program. These internships not only provide practical experience but also enable students to earn a stipend or salary. Internships can be pursued during term breaks or as part of the curriculum, such as the mandatory summer internship component. The earnings from internships can vary significantly based on factors such as the industry, location, and duration of the internship.
It's important to note that the potential earnings from part-time jobs can vary depending on factors such as local labor laws, market demand, student availability, and individual skills and experiences. Additionally, it's crucial for students to strike a balance between their academic commitments and part-time work to ensure they can effectively manage their time and workload.
Conclusion
The INSEAD MIM program offers an exceptional educational experience, but it's important to consider the associated costs. By understanding the tuition fees, living expenses, scholarship opportunities, ROI, part-time job prospects, and visa work hour restrictions, you can make informed decisions and better plan for your financial journey.
Remember, INSEAD provides a supportive environment, and exploring financial aid options, managing expenses wisely, and leveraging the opportunities available can help make your INSEAD MIM experience both academically enriching and financially manageable.
