Director / Senior Expert Coach
All MiM/MiF programmes are different, and so are the hoops you have to jump through to gain admission.
To stand out in a crowded pool of talented, pre-experience applicants you will need to go beyond a strong academic record and GMAT or GRE test scores to demonstrate leadership potential and the ability to create positive impact in the community.
Drawing on our expertise as former Directors and Associate Directors of Admissions at the world’s best business schools, including LBS, INSEAD, HEC Paris and IE, Fortuna’s flexible MiM/MiF Packages are tailored exactly to your target school’s specific admission requirements.
The bespoke nature of our MiM/MiF packages ensure we’re with you every step of the application journey. Your dedicated Expert Coach will work with you throughout the process, finessing your personal statement, brainstorming examples that showcase your skill set and maximizing your chances of admission.
Demand for Specialized Masters programs are on the rise and have become increasingly popular as more and more individuals seek to increase their competitive advantage on the heels of their undergraduate degree.
MIF stands for Masters in Finance, which is a one- or two-year specialized Masters program that can be useful for several career paths within the financial industry.
It can be helpful for undergraduates who want to prepare for mid or senior-level financial positions, such as investment management or corporate finance. Another common reason to apply for specialized Masters in Finance is if you are already a financial professional and want to update your skills and knowledge, with the potential to tweak your specialization with specialized education. As part of the package, Masters in Finance graduates can also receive professional accreditations such as Chartered Financial Analyst (CFA), which can be extremely valuable in the finance world.
By contrast, the Masters in Management (MiM) and the Master of Science in Management Studies (MSMS) are aiming for a somewhat different kind of preparation – they’re looking to help candidates who are coming from a very generalist background, to have leadership experience that is then marketable as an early career accelerator.
To make an informed decision about whether you should consider a Specialized Masters, consider some of the benefits it can offer. Here are a few that can help you pick the best Masters packages in your situation:
Employers love ‘super analysts.’ says Fortuna’s Michael Malone, former Associate Dean at Columbia Business School. In particular, the more technical masters degree programs are designed for students who are coming out of undergraduate directly, having the equivalent of a year or two of experience and seeking to really deepen what they’ve done in a particular technical area.
And it renders you a super analyst – somebody who is an expert in their field and can make much more impactful and deeper contributions to an employer early – and it makes you very marketable as a result. Says Michael, “Employers across industries just can’t get enough students with a strong business analytics background.”
If you know you want to break into a certain industry, or maybe pivot within that industry, specialized masters tend to have more specific industry partnerships, along with the benefit of smaller cohorts, says Fortuna’s Julia Brady, former Managing Director at Kellogg & former Senior Associate Dean, UChicago.
Their relationships with the employer community are different; many of them have a STEM aspect. Says Julia, “For example, the MSMS was perfect for the theater majors I got to know when I was at Kellogg, who looked to pivot into the business of theater or arts management.”
Both the INSEAD full-time MBA and its newer MiM program attract individuals with an eclectic mix of undergraduate studies, says Fortuna’s Caroline Diarte Edwards, former INSEAD director of admissions. A big attraction for the MiM candidate is the incredible diversity of educational backgrounds and nationalities, which creates a very dynamic classroom.
It’s a rich learning environment to come into, in which you have the opportunity to learn alongside people with very different educational and work experience. Most of the MiM students have done internships and therefore arrive with some work experience. Says Caroline, “That richness of working with people from all over the world is a big part of the learning experience at INSEAD, both for the full-time MBA and the MiM.”
It’s easier to get back into the mode of studying when you’re just coming out of undergrad. For many people, it’s also a less daunting prospect to continue with their education rather than take a break in their career later.
It’s not always easy to step away from the workplace when you’re excelling and it can feel nerve-wracking to leave a great job in your late 20’s. As such, the MiM is a great opportunity to get an INSEAD education before you enter the workforce.
Some business masters programs are about half the cost of a full-time MBA program. What’s noteworthy is that both INSEAD’s MBA and MiM are essentially one-year programs, and the MiM is 49,500 euros and the MBA is 89,000 euros. So that’s quite a cost differentiation. For some, it’s a big incentive to go at that early stage and get the INSEAD experience for almost half of the cost.
Keep in mind that pursuing a specialized masters early on doesn’t necessarily take the MBA off the table. It’s not closing a door to a future MBA, it’s an early career launchpad. Also, one year flies by incredibly fast. Compared to undergrad, the one-year program is a very different pace and a very intense experience. For many candidates, it’s motivating to return at a later date and complement their education with a full-time MBA.
So what does it take to make the cut? There are several specific qualities MiM and MiF admissions is looking for. Read this article by Fortuna’s Emma Bond for 5 Essentials For Positioning Your MiM Application to a Top Business School. You can also view 10 Tips for Applying for a Specialized Masters, which captures additional insights on what schools are looking for, future trends, application tips, and a video discussion with Fortuna’s experts.
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