MBA Program
Monaco MBA Fulltime A 10-month learning experience & a lifelong network
The mission of the International University of Monaco is to deliver an excellent business education in an unparalleled multicultural context, where diversity in personal and professional backgrounds, cultures, and languages is the rule. The International University of Monaco (IUM) reflects the country where it is located: both are international microcosms, both are closeknit communities, and both are uniquely successful for their size. IUM is recognized for the personal attention that underpins its teaching philosophy, as well as for its core values of mutual respect, open-mindedness, commitment, and integrity.
Summary Monaco......................................................................04 Why an MBA?..........................................................06 Program Design......................................................08 Program Schedule.................................................10 Applied Learning....................................................12 Careers........................................................................14 Networking...............................................................16 Outcomes..................................................................18 Alumni Network......................................................20 Financing & Admissions......................................22
The International University of Monaco is a partner of the INSEEC Group, one of the largest French educational institutions with campuses in Paris, Bordeaux, Lyon, London and Chicago. With 14 500 students and 38 000 Alumni, the Inseec Group confirms, year after year, its position as a Top Ranked Educational Institution.
300 days of sunshine a year
safest country in the world
The
A country focused on Quality of Life, Growth and Excellence a unique learning & networking experience
Cultural & sporting events
which put Monaco on a par with the world’s major cities
over
5,000
companies in
Banking&Finance, Real Estate, Luxury, International Trade ....
120
nationalities
offering an “open window� to the world
There are more than 5,000 companies, of which many are subsidiaries of international enterprises. The Principality of Monaco is renowned for its highly varied, international population representing over 120 nationalities. It provides the ideal backdrop for students to learn and grow in a truly multicultural environment, inside and outside the classroom. Business is a way of life here, and the Principality boasts one of the highest GNPs per capita in the world.
Low taxation encourages entrepreneurship and business development, especially in sectors such as banking, finance, engineering, tourism, and premium services. In Monaco, you can start making connections and build your business straight away, both within the University and in the business community which is right at your doorstep.
www.monaco.edu
#6 Worldwide for geographical diversity
What do you want to get out of your MBA? 06
From its very beginning, almost 30 years ago, the
Come and broaden your perspectives thanks to a dynamic
Monaco MBA has been unlike any other. Driven by a
learning approach, an exceptionally multicultural
global vision and an entrepreneurial spirit, the Monaco
environment, mentoring, and ongoing networking
MBA has for years now been an internationally top ranked
opportunities with leaders from the fields of Finance,
and AMBA accredited program. Attracting a select and
Luxury and Entrepreneurship & Innovation Management.
diverse student body from around the world, it enjoys one of the highest placement rates 3 months after graduation of any MBA programs!
a unique learning & networking experience
Opting to pursue an MBA is a major decision in your life. Selecting the right one for you is even more of a challenge. Your choice now can make all the difference to your personal growth and professional success in the years ahead.
“Think less about the school, and more about yourself!”
There are hundreds of business schools around the world offering an MBA, and dozens of excellent programs in Europe. How to choose? To truly answer this, think less about the school, and more about yourself: what do YOU want to get out of the MBA? If it’s just the acquisition of basic business skills along with a diploma to prove it, then just about any program will do. If, on the other hand, you want to challenge yourself in an intensive 10-month program, and emerge enriched with new skills, perspectives, and contacts, then you should consider the Monaco MBA. Set in the unparalleled and international environment of the Principality of Monaco, the Monaco MBA stands apart from all the others.
The AMBA accredited Monaco MBA has been in The Economist’s Top 100 Global MBA programs for the past ten years; as well as being top ranked in CNN Expansion and SMBG amongst others. Now celebrating almost 30 years of success, let the Monaco MBA help you build yours! Dr. Marika Taishoff MBA Program Director
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The Monaco MBA is unique in many ways...
C Te urr ac icu hi lu ng m Ph an ilo d so Cu ph & st Ca om y re iz er ed De C ve oa lo ch H pm in In an g en d s Cl id s t as e -o sr & n oo O Ex m ut pe si ri de en th ce e
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I Ra nte nk rna ed ti o & na Ac lly cr M ed En ul t ite vi ic ro ul d nm tu en ral t O Ap ne pr -on oa -o ch ne
Driven by a global vision and an entrepreneurial spirit, each year the Monaco MBA attracts a select and diverse student body from around the world, and enjoys one of the highest placement rates 3 months after graduation of any MBA program. Thanks to its internationally recognized faculty; exceptionally multicultural environment; Mentorship Program; Corporate Consulting Projects; and ongoing opportunities to meet with entrepreneurs and leaders from various fields, you will emerge with far more than a diploma. You will have a life-changing learning and networking experience.
Program Design The Monaco MBA is a 10-month program Whether you are looking for a general MBA, or seek to focus on one of our unique specialization tracks (Luxury Management, Applied Finance or Entrepreneurship and Innovation Management), the Monaco MBA allows you to tailor the program to your own goals and interests.
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The Common Core
General Track OR
Specialization Tracks
Career Planning Unit
The Common Core
All Monaco MBA students complete the common core. This compulsory foundation sequence has several objectives: To teach students how to master best practices and the critical theories of management To enhance students’ critical thinking, analytical, and problem-solving skills To immerse students in the dovetailing issues and challenges of the global business environment To integrate mastery of general management concepts and skills with an appreciation of the external factors affecting the modern firm To motivate students to engage with the real world through an applied and practical understanding of the key business disciplines.
Common core courses integrate lectures, case studies, and practical research to make sure that students understand the fundamental managerial factors of modern business.
One Common Core,
Specialization
Three Unique Specialization Tracks
Tracks
Monaco MBA gives you the unique opportunity to focus, if you wish, on one of three specific Specialization Tracks. This option has been designed to allow those students who have a clear professional goal or industry in mind to acquire the theoretical tools and practical insights to rapidly make their way in their chosen careers. These three Specialization Tracks in,—Entrepreneurship & Innovation Management, Luxury Management and Applied Finance—are also emblematic of Monaco’s unique commercial realities and dynamism. Specialization courses are offered beginning in the second term, once Monaco MBA students have acquired the common tools and skill-sets of effective management in any environment.
Applied Finance
Students following this Specialization Track are typically interested in building or enhancing their careers in one of the numerous financial sectors—such as hedge funds, private equity and venture capital, M&A, or real estate investing, amongst others—or to manage the financial activities and functions within an organization.
Luxury Management
Entrepreneurship & Innovation Management
This track is geared for students whose goals could range from setting up their own businesses; becoming more entrepreneurial – or “intrapreneurs”– within organizations; leading innovation management projects across a variety of organizational, technological and geographic settings.
This Specialization Track has been designed for students who would either like to enter the luxury sector, or fast track their careers in it. The Monaco MBA Luxury Management Specialization Track offers an integrated view of luxury. Students will be exposed to the unique market and competitive characteristics of different luxury sectors, such as fashion, jewellery, yachting, private aviation, real estate, hospitality and event management, etc.
General Track
Some students have a clear idea as to the industry or specialization they would like pursue once they graduate. For those students we offer the three unique specialization electives in Luxury Management, Entrepreneurship & Innovation, and Applied Finance.
Career planning Unit
Today the softer facets of management such as self awareness, centered leadership, and communication are as important as the hard skills.
The Monaco MBA, supported by its Career Assessment Center, includes several courses to develop and hone these skills.
Others, on the contrary, seek broader perspectives and insights. Thus, during their MBA, they may pick and choose electives from across these specializations.
The Office of Career Development and Corporate Relations assists students in leveraging their unique professional and personal abilities, and guides them in their pursuit of a successful career.
Also, exposure to new subjects, ideas, and people—a vital ingredient of the Monaco MBA – can alter a student’s career aspirations. Therefore, students are not obliged to stick to the Specialization Track they initially chose, and may change it at any time.
Students work with the Office of Career Development and the Assessment Center throughout the program to fulfill IUM’s commitment to realizing their career potential especially through career and personal development sessions.
Intake
Common Core
Career & Personal Development Program (Emotional Intelligence & Presenta
Orientation Seminar Integration Seminar
High Profile Business Conferences Career & Personal Development Seminars I
Networking Mentorship Cocktail
A L A T I O N I N T E R N
BUSINESS DAY International Business Days
Christmas Ball
Career & Personal Development Seminars II
NOVEMBER
DECEMBER
JANUARY
Networking Opportunity
SEPTEMBER
10
OCTOBER
High Profile Business Conferences Throughout the academic year, IUM puts together professional conferences gathering C-suite level representative of local and international companies. As an example, IUM organized The Edge, a one-day forum connecting worldwide entrepreneurs and highprofile investors (www.edgemonaco.org)
10 months of learning & networking
General Track
Specialization Tracks
Corporate Consulting Projects
Field Trip
FEBRUARY
Business Simulation
Career & Personal Development Seminars III
MARCH
APRIL
The Mentorship Cocktail
IUM International Business Days
Held every January, the cocktail kicks off the Mentorship program, an integral part of being immersed in the Principality’s vibrant business environment and which is offered exclusively to Monaco MBA students.
As part of the INSEEC Business week that gathers over 400 recruiting companies on several campuses, in Paris, Bordeaux, Lyon and Monaco, IUM ‘s International Business Days connect students with top executives, HR managers and recruiters from Europe such as Campari International, UBS, Salvatore Ferragamo, Ermenegildo
Graduation
MAY
JUNE
Zegna, Honda, Fraser Yachts, Credit Agricole Corporate and Investment Bank, Barclays Wealth, HSBC, ING , Nestlé Waters, Nikko Asset Management, Geox, Orange, Altran, Vodafone, Boston Consulting Group, Pricewaterhousecoopers, Puma, Richemont Group, Façonnable, Credit Foncier de Monaco, and the International Association of Athletics Federations, to name a few.
Please note that this schedule may be subject to change.
ation Skills, Communication & Teamwork, Mentorship Program, Assessment Center)
Applied learning Inside the classroom Business Simulations
Business simulations are a vital component of the Monaco MBA curriculum. We use some of the world’s most sophisticated and cutting edge business simulations, designed for, and currently being used by leading corporations around the world. These simulations or “games” aims to help employees develop:
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An intuitive understanding of business and its functional elements Ways to achieve a strong profitable position in the market by establishing win-win cooperation throughout the value chain. To create an even more vibrant and unpredictable dynamic throughout the “game”, Monaco MBA students participate in these simulations together with members of the EMBA cohort during the latter’s residential week in Monaco.
Individual Projects
Some students join the Monaco MBA with their own entrepreneurial ideas which they seek to develop into actual businesses. These students are given the option of doing an Individual Project, in lieu of a Corporate Consulting Project. They are expected to produce an implementable business plan, which they need to defend. Recent examples include: The business plan for the creation of an innovative online couture house, established here in Monaco, which uses the latest technology to deliver tailored clothing, shoes and accessories Another one focused on various growth options and succession plans for a family owned business. Both the Corporate Consulting Projects and the Individual Projects are equivalent to two full courses, and thus serve as capstones to the Monaco MBA program.
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The Monaco MBA made the world smaller. On the one hand, the university is an amazingly international place. On the other hand, the great number of business contacts I made during the MBA year – including the ones mediated by the Mentorship program – opened doors to new opportunities. When I add to these factors the solid and objective orientation from the faculty (absolutely essential), the challenging Corporate Consulting Projects, and the specificity of the Luxury Management path that I chose, I was able to turn my ideas into a plan, and the plan gave birth to my own company. Now is the time when I can really see how rich the experience at IUM had been: I am not only putting into practice what I learned, but mostly I am using it to actually change the context in which I do business. It has been an intense, priceless and life changing experience – and I will always take it with me. Daniel Maior, Brazilian, Monaco MBA 2011 CEO, 377 Luxury Lifestyle
Corporate Consulting Projects
Corporate Consulting Projects are an integral element of our applied learning approach, both inside and outside the classroom. Every year, students work in teams on actual projects entrusted to them by local or international enterprises. These projects typically start in the second term, once students have acquired the fundamental tools, skill-sets and insights enabling them to handle managerial challenges and strategic decision making. Examples of past projects: Fortepharma, the European leader in wellbeing products: Designing the Russian market entry and development strategy Puma: Analysis of the Chinese market for sportswear and kids’ wear, and the creation of an appropriate marketing plan to tap into these targets
J. Craft, a high end brand in the boating industry: designing and implementing a strategic marketing plan Monegasque banking and financial community: a strategic plan to reposition Monaco as a global financial center One of Monaco’s leading and most renowned entrepreneurs: a business plan for an innovative new business concept Sotheby’s International Realty France-Monaco: a branding strategy to attract ultra high net worth Russian and Indian property buyers Fairmont Hotel in Monaco: an innovation consulting project.
Careers A unique combination of professional Career Coach, Executives and HR Directors
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The Monaco MBA has an extremely high placement rate three months after graduation, largely thanks to the initiatives of the Office of MBA Career Services. Monaco MBA offers tools and techniques to master the job search process with guidance from the dedicated Career Coach Mrs. Caroline Frisenberg, Executive Search Consultant. The Career Development Seminars spans over the academic year and follows you during your career journey to: Assist you in assessing your career goals and ambitions Improve your skills and core competences, self branding, expertise
Market yourself in a specific location, targeted industry with a career path already in mind. We do so thanks to, for example: Panel interviews conducted with top HR Directors from all over Europe, to give you the experience and preparation for Executive level interviews in a multicultural environment. Presentations - both in class and during networking events - to constantly work on you presentation skills. It is that unique combination of professional Career Coach, Executives and HR Directors in class that gives you the elevated level of support directly from the industry to improve and tweak your soft skills.
Career Process Leadership Skills • •
Finding & Optimising your leadership style Inspire & Influence
Interpersonal Skills • • •
- Job Search Strategies - Networking, Elevator Pitch - Personal Brand Management - Application follow-up - Mentorship Part III
- Assessment Center - DISC (Behavioral) Analysis - CV review - Mentorship Part I
ourself ess Y Ass
Ma rke tY o
lf e s ur
Teambuilding Communication Public Speaking
- Industry Trends & Career Paths - A headhunter edge: recruiters process - Communication Strategies - Panel Interviews with HR/Recuiters on site - Mentorship Part II
• • •
Analyse Job M ar k e ts
Managerial Skills
Managing Teams & Organization Dynamics Negotiation Skills & Techniques Project Management
The MBA Mentorship Program
For the last eight years, the International University of Monaco has been offering a unique Mentorship Program reserved to Monaco MBA students. Every year this program involves more than 80 mentors and it is an outstanding contribution to your overall experience here, and to the achievement of your professional goals. Thanks to this program, you will gain: Guidance, insight and knowledge of CEOs, top executives, and successful entrepreneurs from a variety of sectors and countries Relationships with successful professionals A unique appreciation of the industry which most interest you
Caroline Frisenberg, MBA Coach
Managing Partner Frisenberg J. & Associates LTD Bringing Top Executives and HR Directors into the classroom to give our students individual and concrete feedback on their presentation, communication and leadership skills, I believe, is one of the best tools we can give our students for their own personal and professional development.
Networking Outside the classroom
As Monaco is our campus, the Monaco MBA ensures that you get every opportunity to benefit from the rich and diverse networking opportunities available in the Principality, through: Conferences with prominent guest speakers The mentorship program
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The Corporate consulting projects Several partnerships with local professional associations, to broaden your perspectives and expose you to new ideas and environments And many more social events
Outside Monaco
MBA students can participate in Field trips, an “out of the classroom and out of the box� experience, to visit centers of expertise in a variety of domains. You also get to meet C-suite level members of the organizations, and visit corporate facilities such as production, marketing, logistics and distribution.
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My MBA at IUM has been a challenging and life
changing experience. The three greatest aspects of the
program are the international student body, an excellent
faculty, and a stimulating curriculum. Working with students from
all over the world helped me gain an international perspective on
various personal and professional situations. The highly credible and diverse faculty is extremely considerate, supportive, knowledgeable and open to discussion. The condensed yet comprehensive and
intensive form of the program not only taught me to cope with but rather to thrive under pressure. The MBA also helps in personal development, leading to amicable and confident graduates. Today, I assertively believe I will be able to realize my dream job with unconstrained success.
Mandira Puri, Indian, Monaco MBA 2013
Special Agreement with the CREM
Monaco MBA students enjoy unique access to the CREM: the Club des Residents Etrangers de Monaco (the foreign residents club of Monaco). This exclusive club normally only accepts applicants who are residents of Monaco. Thanks to a special agreement with IUM, the CREM now also invites Monaco MBA students to join at a significantly discounted fee. Monaco MBA students will be able to : Hold their group meetings Study or simply relax at the bar while reading the freely available international journals Attend the numerous and frequent activities and events hosted by the CREM
Mingle with a wide variety of Monaco residents who share common interests and activities Build their personal as well as professional networks
Outcomes What will you gain?
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The solid managerial skill set which allows you to quickly become productive and confident managers.
Assimilate not only the hard skills, but also the soft skills so fundamental to management success today and tomorrow.
The ability to collaborate international setting.
A general knowledge of management theory and practice, as well as specialized industry knowledge of finance, luxury and international management.
in a truly
Learn to work and lead in a dynamic and
unpredictable environment, with people from different regions, cultures and backgrounds.
A life-changing learning and networking experience: creating new perspectives, a worldwide network, and ongoing opportunities for professional growth and development.
Testimonials
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I was impressed by the well structured program, the highly knowledgable professors, their level of preparation and unique teaching philosophy. I received the right foundation for my future career by being able to go beyond the theories, skills and data taught in the classroom and apply them in real world situations. Katalin Radvanyi, Hungarian, Monaco MBA 2010 Director, Financial Services, London
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Joining the MBA program at IUM was one of the best decisions I’ve ever made. The wonderful backdrop of Monaco provides an opportunity for IUM to draw some of the most amazing professors from all corners of the globe and of the business world. The day after returning home from Monaco, I was contacted by, and now work for, an insurance software provider as a Business Management Analyst. As they have a global presence they recruited me because of my international MBA. I have already used many of the skills I learned in Monaco including, but not limited to, financial accounting and financial evaluations as well as building a strong presentation. I definitely could not do my job without my IUM MBA. Jeff Hancock, American, Monaco MBA 2013 Business Management Analyst
#21
Worldwide for Post-MBA salary The Before-After Monaco MBA Effect
79% Before
From Venezuela originally, Eduardo had been working in the translation field in Paris. Yet he was always passionate about luxury management.
placement rate at 3 months*
After
The analysis and luxury marketing recommendations in the Corporate Consulting project he presented to the firm so impressed the CEO that he was hired shortly thereafter. Eduardo is now a partner and managing director of a luxury real estate firm in Monaco.
*Average 2009-2013
Having had a passion for flying ever since she was a child, Valerie joined the MBA program after having completed her pilot’s licence.
She established a private aviation company, built around a unique business model, based in Belgium, with clients across Europe.
Alumni Network Keep connected
Get Together
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After an intensive 10 month stay in Monaco, MBA students truly get to know each other and in many cases become close, lifelong friends despite living and working around the world. To meet again and catch up, numerous alumni from all MBA cohorts return to Monaco for the annual Alumni Get Together Weekend.
Alumni Platform The existence of an alumni network is a key strength and differentiator for any business school. With students coming from and working all over the world, IUM has created a platform dedicated to our alumni only, to allow you to fully take advantage of alumni benefits, that is to say: Find the latest business and career opportunities Keep in touch with the university and fellow students Network with alumni around the world Create new and valuable contacts Learn about and attend events.
Financing your MBA 22
Pursuing your MBA is one of the most important decisions you will make; it is an investment in yourself and in your future. We encourage you to discuss your financial options with those in your entourage that may provide support while you attend school, to select the financial resources that best fit your needs. Most students rely on multiple funding sources typically including: Personal resources Loans in your residential and/or native country Sponsorships External scholarships.
IUM offers you the possibility to apply for a meritbased scholarship. The school scholarship committee gathers once a month to evaluate the candidates based on several criteria, such as, among others: Academic Results Professional experience Extra-professional activities Career goals The scholarship does not cover the entire tuition costs but is there to encourage students who show great potential. Anyone can apply to the scholarship. Please contact the admissions office for more information.
Admissions Academic ability and potential as shown by grades or equivalent tests and examinations Evidence of relevant personal, professional, and educational experience Motivation to study in the chosen field and clearly defined career objectives Leadership potential and personal achievement and interests Uniqueness and contribution to the University’s mission A Bachelor Degree in any subject A minimum of 3 years of work experience
Admission Process You can start your application for the Monaco MBA program online on our web site. Upon completion of the online application, you need to send the required documents by post. Applicants may also be required to attend a personal interview. For international applicants, a telephone interview may be arranged.The MBA Admissions Board will take approximately 15 days for the evaluation of your file and afterwards will schedule a telephone interview.
Admission Documents Required:
University transcript(s) and diploma(s), with official translation when necessary The grading scale of the transcript(s) Two letters of recommendation from professors and/ or employers who have observed their performance in an academic and/or professional context. Letters of recommendation not in English must be officially translated into English (if you need an exemple, download one here) 2 passport-size photographs Photocopy of passport or national identity card Proof of GMAT or GRE score Proof of English proficiency (TOEFL, TOEIC, The Cambridge Advanced or Proficiency Test, IELTS) An updated Résumé Non-refundable 100 Euro application fee
Academic Memberships:
For more information, you can contact our Admissions Team: admissions@monaco.edu or by phone at: +377 97 986 986
Please note that the information contained within this brochure may be subject to change
Admission Criteria
International University of Monaco 2, avenue Albert II MC 98000 Monte-Carlo Principality of Monaco
Tel: +377.97.986.986 www.monaco.edu
The International University of Monaco is a partner of the INSEEC Group, one of the largest French educational institutions with campuses in Paris, Bordeaux, Lyon, London and Chicago.