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International University of Monaco

Master of Business Administration (MBA)

AMBA accredited

HomeProgramsMBA Programs (AMBA accredited)Master of Business Administration (MBA)

Why the Full-Time MBA at IUM?

At a Glance:

  • AMBA Accredited
  • 10 months
  • Starts in September
  • 3 years of working experience required
  • 3 specializations if wished: Applied Finance, Luxury, and Entrepreneurship & Innovation
  • A dedicated career and personal development coach for the MBA students
  • Rankings:

    • The Economist “Which MBA” Ranked 94th in Top 100 MBA Programs in the World
    • 6th worldwide for geographical diversity. The Economist “Which MBA”
    • 21st worldwide for post-MBA salary. The Economist “Which MBA”
    • SMBG rankings of 20 Top MBA programs in France: Monaco MBA number Four
    • CNN Expansion ranking of Top Global MBA Programs, number 66
  • Key Figures

    • An average gross salary of €105K within 3 years after graduation
    • Every MBA Class represents around 18 different nationalities
    • Average number of languages spoken by students: 4
    • Average years of professional experience: 7
    • Placement Rate: average of 81% within three months
  • What are our alumni doing now?

    • 40% of our MBA Alumni are working outside their native country
    • 25% of our MBA Alumni have created their own successful businesses
    • Our most recent alumni are currently working in very diverse and prestigious firms such as Campari International; SAP; IBM; Deloitte Touche Consulting; Bottega Veneta; Fendi; Tiffany; and Cirque du Soleil.
  • Some key strengths?

    Learn, grow, network, and succeed

    • Internationally top ranked and AMBA accredited program.
    • One of the highest placement rates upon graduation of any MBA program.
    • Select and diverse student body from around the world.


For the past eight years the IUM MBA has featured in The Economist’s Top 100 MBA Programs Worldwide. It is also highly ranked by CNN Expansion, and by SMBG.

Accredited amba
the economist
cnn expansion

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.

What will you GET OUT of your FULL-TIME MBA at IUM?

  • the solid managerial skill set which allows you to quickly become productive and confident managers.
  • the ability to collaborate in a truly international setting.
  • learn to work and lead in a dynamic and unpredictable environment, with people from different regions, cultures and backgrounds.
  • assimilate not only the hard skills, but also the soft skills so fundamental to management success today and tomorrow.
  • a general knowledge of management theory and practice, as well as specialized industry knowledge of finance, luxury and entrepreneurship and innovation management.
  • a life-changing learning and networking experience: creating new perspectives, a world-wide network, and ongoing opportunities for professional growth and development.

A Word from a Professional

Caroline Frisenberg Caroline Frisenberg,
MBA Coach
Managing Partner, Frisenberg J. & Associates LTD

By 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.


The Master of Business Administration at the International University of Monaco is a 10 month Program comprised of Common Core courses, Specialized Electives, and Career & Personal Development Seminars

MBA Curriculum

Download the PDF version

Common Core

All MBA students complete the Common Core. The Common Core enables MBA students to master best practice and the critical theories of management while also enhancing students' critical thinking, analytical and problem-solving skills.

Common core courses are built on a mix of lectures, case studies and practical research in order to ensure that students understand the fundamental managerial disciplines and tenets of modern business.

Career and Personal Development Program

The Office of Career Development offers free access to a sophisticated and highly recognized self-assessment inventory and suggests additional self-assessment tools for individual needs and specific requests.

Throughout the year, the Career Development process includes workshops with Headhunters, HR Directors, and Recruitment specialists. These experts meet with students and participate in the evaluation and coaching process.

3 specializations if wished

Beginning in the Winter Term, once students have acquired the skills and knowledge of general management theory and practice, and continuing into the Spring Term, students may choose amongst electives in Applied Finance, Luxury Management, or Entrepreneurship & Innovation Management.

One Common Core, Three Unique Specializations

IUM Master in Business Administration students are given the unique opportunity to focus, if they wish, on one of three specific tracks: Applied Finance, Luxury Management, and Entrepreneurship and Innovation Management .

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.

  • Applied Finance

    Students following this Career Track are typically interested in building or enhancing their careers in one of the numerous financial sectors—such as wealth management, private equity and venture capital, M&A, or real estate investing, amongst others— or to manage the financial activities and functions within an organization through such courses as risk management and macroeconomics for financial forecasting.

    Given the economic characteristics of Monaco, as well as the profile of many of our MBA students, the Monaco MBA in Applied Finance also offers electives in family wealth preservation and optimization strategies, and in wealth and investment management strategies.

  • Luxury Management

    This Career Track has been designed for those students who would either like to enter the luxury sector, or fast track their careers in it. The Monaco MBA Luxury Management specialization takes an integrated view of luxury.

    Students will be exposed to the unique market and competitive characteristics of different luxury sectors, such as fashion, jewelry, yachting, private aviation, real estate, hospitality and event management, etc. Monaco MBA Luxury students will also be able to focus on specific luxury career functions, such as marketing, communication and branding; retail buying and merchandising; or luxury tourism marketing and sales, amongst others.

  • Entrepreneurship & Innovation Management

    This track is geared for those 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; or understanding and successfully tapping into new geographic markets or digital applications and opportunities.

    Classes are both theoretical as well as applied, with subjects ranging from entrepreneurship and creating new businesses and business models; mobile marketing strategies; social media marketing; global policy and sustainability; or doing business in Asia.

  • General Track

    Those students who seek broader and more interdisciplinary perspectives during their MBA may select electives from across these three specializations. Moreover, exposure to new subjects, ideas and people—a vital ingredient of the Monaco MBA—can alter a student's career aspirations. Therefore students may change their initial specialization choices at any time.

    In addition to our full time faculty, guest speakers and adjunct professors from the realms of luxury, finance and entrepreneurship —all very well represented in Monaco— further enhance the hands on and applied focus of these Career Tracks.

Some of the Core Courses offered in the Master of Business Administration

Please note that this list is not exhaustive and subject to change

  • Financial Accounting and Reporting:

    Students will review in detail all the elements of a balance sheet, an income statement, and a statement of cash flows. They will learn how companies control their cash, their accounts receivable and manage their inventories. They will see how companies finance their operations with short-term and long-term debt, and through common and preferred stock financing. They will learn how to prepare and analyze a statement of cash flows, showing the sources and uses of cash from operating, investing, and financing activities. They will learn how to analyze the various financial statements using horizontal, vertical, and ratio analysis, as well as MVA and EVA ratios.

  • Statistics for Business:

    This course covers the basics of classical statistics and data analysis including summary measures of data, graphical presentation of data, random variables and probability distribu-tions, estimation, confidence intervals, and hypothesis testing. After achieving a reasonable familiarity with the classical material, students use more advanced quantitative methods ap-plied to managerial decision-making problems such as regression, and chi-squared tests of independence for categorical data. Emphasis throughout will be on interpreting data, choos-ing appropriate models and methods, and on practical applications of the statistical methods. The course relies on extensive use of the spreadsheet package Excel.

  • Economics for Managers:

    Competition has fundamentally intensified over the past years. Many companies today spread out their value chains across numerous locations. Thus, sound economic analysis has never been more important - regardless whether the decision-making unit is an individual, household, firm, non-profit organization, or government. The integrative approach used in this course will help business students to recognize that important managerial decisions are interdisciplinary as effective management is seen to involve an integration of the accounting, finance, marketing, personnel and production functions. Therefore, the business firm is treated as a unified whole, rather than a series of discrete, unrelated parts.

    In order to build an intellectual fundament, the students will learn conceptual frameworks (business scenarios) that are based on microeconomic theories, i.e., the underlying economic behaviour of actors participating in individual markets: individuals (theories of supply and demand), firms (production, cost and pricing), and industries under different forms of market structure (competition vs. monopoly). Real-world examples are used to support this problem-based approach. For example, an IT company's strategy will be analyzed to introduce basic ideas on corporate strategy and industry analysis and transformation, competitive strategy, and competitive dynamics. Furthermore, we shall broaden our knowledge of real business applications of economic analysis by expanding the scope of inquiry to cover the process of internationalization of a company. Students will examine the relevant managerial economic principles, problems and issues related to entry and penetration strategies that force a company to adapt to local circumstances.

  • Global Strategy & Leadership

    The past few years have witnessed a dramatic reappraisal of longstanding principles of strategic thinking, planning, and implementation. Partly this has been due to the so-called ‘flattening' of the world: the combined forces of accelerating globalization and digitalization have made it clear that organizational strategies and structures need to adapt to a radically new and unpredictable set of competitive dynamics. Inevitably then, not only are strategies and structures being reappraised; so too are the qualities, characteristics and profiles of current and next tier leaders.

    In the light of the above, the overriding focus will be on how to achieve strategic adaptability and flexibility in a changing and unpredictable global environment. Principle tools and concepts of strategy will be discussed, as well as evolving approaches to the interplay between strategy, structure and corporate culture. The seminar will be run in a very interactive manner, with case study analysis and discussion the primary mode of instruction. The course will cover some of the major strategic decision-making tools—including the Ansoff Matrix; SWOT; the VRIO Core Competency tool—as applied specifically to the global environment. A variety of environmental analysis tools, such as Porter's Five Forces and the PEST model will also be discussed from an applied and practical point of view. And since successful global strategizing also presupposes successful leadership skills, we shall also examine the characteristics of successful leaders, be it in history or contemporary culture, as well as in business.

  • Organizational Behavior and Cross-Cultural Management

    This course focuses on organizational behavior and cross-cultural management in the workplace. This course addresses some questions regarding occupational health and safety. It concentrates on the variables that affect individual and collective behavior. This course will also talk about more traditional organizational behavior subjects such as stress at work, job satisfaction, motivation, performance appraisal, etc. Students will learn how work-related variables can affect human behavior and their implications for performance and satisfaction. They will also develop the ability to recognize the influence of these factors on organizational system-level variables and their impact on the critical determinants of organization human resource effectiveness: productivity, absenteeism, turnover, satisfaction, and citizenship.


    Innovation is high on every executive's agenda today. Innovation is seen as a key differentiator in markets that are increasingly hard-fought and it is destined to become ever more so as competitive pressures increase across all industry sectors. Innovation separates the winners from the competitors. In a world of hyper competition, pro-active and continuous work with innovation is imperative to gain competitive advantage.

    Innovation manifests itself in a variety of forms. It can drive new service and product offerings and development of brands, ways of marketing, business models, delivery channels and so on, and it can also be at the root of new business opportunity creation and the launch of entirely new business models. However, the coin has a flip side, as innovation development is often expensive and can be easily imitated by competitors in the global economy. Innovation management is the discipline of managing processes in innovation. Without proper processes, it is not possible to be efficient. Innovation management includes a set of tools that allow people in the organization to cooperate with a common understanding of goals and processes.

    The focus of innovation management is to allow the organization to pro-actively respond to external or internal opportunities and use its creative efforts to introduce new ideas, processes or products. By utilizing appropriate innovation management tools, management can trigger and deploy the creative forces of the whole work force towards the continuous development of an organization.

Career Development and Corporate Relations

As important as the academic MBA curriculum, is our commitment to ensuring that MBA students have ongoing opportunities to meet and network with members of the business and entrepreneurial community for which Monaco is so well known.

Personal Development Program – PDP

MBA students will also participate in an innovative Talent & Career Development Program, inspired from corporate best practices in talent management and high flyer development programs.

It aims to help students to create and implement an individual development plan, scheduled throughout the year with short and medium term objectives, which are monitored by professional coaches and career counselors.

This program enables MBA students to acquire the transferable skills that are sought-after by companies, and to target jobs that fit their skills and interests. The T&CD Program combines the tools of Assessment & Development Centers with interactive «self selling» workshops; business role-play games and simulations. It is completed by a Mentorship Program which recommends to all eligible MBA students their own business executive working in the targeted job area.

  • Corporate Relations Activities –CRA

    The aim of the Corporate Projects is to expose students to the realities of working in selected teams on actual issues, challenges, problematic or growth opportunities confronting companies today. We intentionally invite a wide selection of companies from all sectors and of all sizes to participate in this program.

    Students, working closely with the point of contact within the company, will have to analyze the situation, embark on relevant research, assess pros and cons, and present and substantiate their recommendations to the company. Groups will be graded by faculty, the MBA program director, and senior management of the company. Examples include market entry and development strategies for different regions, growth and M&A alternatives, global supply chain and logistics decisions.

    Organizations such as Puma, Fairmont Hotel, Façonnable, the Monaco Venture Capital Association, Bottega Veneta, and Easy Group are amongst those which have been involved in such projects.

  • IUM MBA Mentorship Program

    For more than ten years, the International University of Monaco has been offering a unique Mentorship Program for its MBA students. This Mentorship Program creates direct links between Monaco's dynamic business and entrepreneurial community, and the MBA's internationally diverse and professionally experienced student body.

    Thanks to this program, students have the exceptional experience of benefitting from the guidance, insight and knowledge of CEOs, top executives, and successful entrepreneurs from a variety of sectors and countries. Every year this program involves more than 25 mentors and has been an outstanding contribution to students' overall experience here, and the achievement of their professional goals.

    Through this opportunity to develop ongoing relationships with successful professionals, students gain a unique appreciation of the industry or practice which most interests them. This is not only beneficial for their studies, but also assists in their career aspirations.


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 merit-based 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
MBA Business administration

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 regarding the application process.

Alumni Testimonials

Jeff Hancock Jeff Hancock, American, Monaco MBA 2013

Joining the MBA program at IUM was one of the best decisions I've ever made. It was 10-months of non-stop learning, experiencing, living and fun. IUM is a truly unique learning experience that is both challenging and rewarding. 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 all corners of the business world.

Also, a truly global class filled with some of the most amazing people I've ever met, from all different backgrounds, gave me the chance to learn just as much from my peers as I did from my professors. Our class worked together to accomplish more than we ever thought possible, and we all left with lifelong friendships. 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 the 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.

Mandira Puri Mandira Puri, Indian, Monaco MBA 2013

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.

Daniel Maior Daniel Maior, Brazilian, MBA'11

The Monaco MBA made the world smaller. On the one hand, the university is an amazingly international place with people from virtually everywhere. 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 developed during the program, 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, 377 Luxury Lifestyle.

And 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.

Caroline Behne Caroline Behne, German, Monaco MBA 2010

My experience at IUM was extraordinary. The MBA pathway in luxury goods and services exposed me to many new business concepts, greatly enhancing my previously gained professional experience in Dubai. Throughout my MBA I had the opportunity to immerse myself into the business dynamics of major international companies in various industries.

It was a year combined with hard work which truly pushed me to my limits and gave me confidence in my abilities. Even more importantly, I developed lifelong friendships and business relationships. It was a great challenge and experience that I would not exchange for anything in the world. Upon completing my MBA I had the opportunity to work with teNeues Publishing (Senior Marketing Associate) in New York City, where I am presently representing the Digital Media Group based in Berlin, focusing on digital luxury and lifestyle publications.

Andreas Buelow Andreas Buelow, German, Monaco MBA Class of 2006

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".

The university's Mentorship program does an excellent job in bringing students together with local business people to help them understand how business actually works. And finally, IUM combines these soft skills with hard academia – often with the help of respectable professionals in the respective field. Monaco and IUM are a challenge, and a worthwhile one, too!

Paulo Santos Paulo Henrique de Almeida Santos, Brazilian, Monaco MBA Class of 2008

My time at IUM was a very fruitful experience. The staff of the university was really well organized and willing to make us feel comfortable and welcome, so we could prioritize and really focus our energies on our studies.

As the university is not a big one, talking with professors and developing a good professional relationship with them is quite easy. The professors are very well prepared; they know how to make us develop our full potential.

The social life in Monaco is a dream...I do not know any place in the world where you can network with so many powerful and interesting people as easily as you can in Monaco. Overall my experience was very good! I miss so many people and I always will remember my life in the Principality.

Alexis Chapman Alexis Chapman, Canadian, Monaco MBA Class of 2006

My experience in the IUM MBA was, in a word, fantastic. I chose the program mainly for the 'Luxury Goods Brand Management' specialty as well as the international aspect of the curriculum, faculty, and fellow students.

Upon completing my Monaco MBA I took a role in London, UK at The Walpole, which represents 100 British luxury brands including Burberry, Jimmy Choo, Links of London, and Rolls Royce. The Walpole was impressed with IUM's program curriculum and luxury issue coverage. As a result, I was able to step into the role as Senior Membership and Events Executive with confidence and skills from my IUM experience.