The United States has long been the number one destination for MBA applicants globally. However, increasingly, aspiring MBAs want a unique study destination that will make them stand out from the crowd.
Enter, the Principality of Monaco, a sovereign city-state on the French Riviera and home to the International University of Monaco (IUM).
IUM’s AMBA-accredited MBA program—which offers specializations in wealth management, luxury management, and entrepreneurship and innovation—is ranked among the top 100 MBA programs in the world by the Economist.
MBA students can complete it in 10 months full-time, or in up to three years part-time. In Monaco, they profit from a rich, innovative business community, and the kinds of career opportunities not available elsewhere.
So, if you’re a young professional with a few years of professional experience under your belt. If you’re savvy, ambitious, and you want to take the next step in your career with the world’s foremost business degree.
Here’s five reasons why you should study in Monaco:
1. Career Success
From finance and real estate to luxury and tourism, over 5,000 local and multinational companies operate in Monaco across a variety of thriving industries. And IUM provides the perfect platform for MBAs looking for jobs.
80% of IUM MBA students land new jobs within three months of graduation. Top employers like UBS, Nielsen, Piaget, Puma, and global consulting firm Frost & Sullivan, come to recruit on campus.
Capital gains tax doesn’t exist in Monaco. Ultra-high-net-worth individuals, with plenty of money to invest, are in abundance. It’s an environment that encourages innovation. At IUM, 25% of grads go on to start their own businesses. IUM MBA students also benefit from direct access to Monaco’s new startup accelerator Monaco Tech.
“Entrepreneurship and innovation are in the very DNA of the Principality,” says Marika Taishoff, MBA program director at the International University of Monaco.
“Monaco has long attracted successful entrepreneurs. In order to further and actively promote entrepreneurship within the Principality, the government has recently launched Monaco Tech, an accelerator for selected startups.”
3. Network
With a crossroads of talent (over 5,000 companies), a strategic position (a privileged partner for the European Union in the Euro Zone and a gateway to Africa in the heart of the Mediterranean Basin), and a GDP with strong growth (+7.2% in 2014), Monaco is definitely a dynamic country.
“IUM has over the years forged close and ongoing relationships with the numerous entrepreneurs, business angels, investment advisors, and venture capitalists who live and work in the Principality,” says Marika.
“These professionals are not only mentors to our MBAs or providers of very interesting corporate projects, but also actively guide and support those entrepreneurship track students in the writing and pitching of the business plans they prepare during their studies here. Some of these professionals have even invested in our student startups!”
Mihai Ivascu, MBA’15 and CEO and founder of Moneymailme says: “IUM gave us access to a lot of business events and leading executives in Monaco. One of the guys who assessed my MBA corporate project is now chairman of my company and an investor. It’s definitely a good investment. You come to Monaco to network and do things you cannot do anywhere else in the world.”
4. Diversity
The IUM MBA is ranked ninth in the world for geographic diversity by the Economist. Its intimate, 20-to-25-student class is 100% international. Over 80 nationalities are represented across the university. Monaco, the city-state, is home to 125 nationalities, with English widely spoken.
“The experience at IUM has been a profound one for me, in particular in terms of personal development. Beyond the glitz and glam, Monaco is a micro-cosmos of successful global business people. IUM reflects this cross-cultural mix in its student body, providing intense inter-cultural ‘training on the job’,” recalls Andreas Buelow, MBA’06 and principal at Roland Berger in Bahrain.
5. Lifestyle
Monaco has 300 days of sunshine a year. It’s located at the heart of Europe. It’s home to the Monaco Grand Prix, the Monte-Carlo Rally, the tennis masters, the circus festival. MBA students in Monaco will have plenty to do, both inside and outside the classroom.
“You will be getting far more than a diploma,” says Marika.
“You will be immersed in a unique and dynamic business environment characterized by entrepreneurship, luxury and wealth management and where, thanks to our MBA program’s very applied and hands-on approach, you will have access to new ideas, new people, and new—and frequently unexpected—opportunities to grow professionally, and personally.”
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