The IE Business School MBA is located in Madrid, the capital of Spain and one of the world’s major global cities. It’s one of the most eminent B-schools in the world. As per Bloomberg, IE Business School ranking is at the 6 position in the list of best B-schools in Europe in 2021-22.
Apart from a high emphasis on developing entrepreneurship qualities among students, the IE MBA is known for its thriving campus with many international students and infrastructure conducive to world-class business education. In 2021, the IE tower was opened up, one of the world’s tallest vertical campuses. The 591-feet skyscraper is the fifth tallest building in Madrid. IE Madrid students get the corporate feel and a professional environment right from the start here.
Types of IE Business School MBA Programs
The IE Madrid conducts numerous MBA programs, some of them being jointly conducted with other B-schools or universities. Each program caters to the requirements of different students. However, we’ll limit our discussion to three full-time IE MBA programs of 1-year duration that are most sought after by international applicants.
The program is designed for entrepreneurs and business professionals with at least three years of professional work experience. The IE Business School MBA program is immersive, customizable, and helps you gain strategic skillsets to grow your business and transform as a business leader.
Master in Management (MIM)
The IE MIM program is suitable for young professionals on the verge of beginning their careers in management. It’s one of those few programs where no previous work experience is mandatory. Moreover, you can customize 50% of your program as per your career needs.
The first of its kind in Europe, the Tech MBA program is designed for individuals interested in developing their careers in the technology sector or tech-centric job profiles. The program will provide individuals with the necessary leverage to adapt to the fast and ever-changing pace of the global technological evolution.
To apply for IE MBA program, you must have an undergraduate degree in science, technology, engineering, or mathematics. Additionally, you’ll need at least three years of relevant work experience to apply for this program.
IE Business School Application Deadlines
IE Madrid follows a rolling admission process for its international MBA and MIM programs. So, there are no application deadlines. However, you’re advised to apply at the earliest so that the admission committee gets enough time to evaluate your IE business school MBA application.
The deadline for the September 2022 intake of the Tech MBA is as follows-
7 September 2021
19-23 October 2021
12 October 2021
30 November- 4 December 2021
16 November 2021
21-23 December 2021
29 December 2021
3-7 February 2022
1 February 2022
9-13 March 2022
23 March 2022
27 April- 1 May 2022
4 May 2022
15- 19 June 2022
6 June 2022
4-7 July 2022
IE Business School Admission Cost
The IE business school fees for the courses mentioned above are as follows.
Disclaimer:- The fees for all programs change every academic session. Check out the institute’s website for the latest fees.
Additionally, you have to make a one-off contribution of €1,200 to the IE foundation during enrollment.
You can see that the IE Business School MBA fees in INR can go beyond Rs 30 lakhs to Rs 56 lakhs, depending on the course you select and the currency exchange rate. Does that mean you can’t pursue an IE MBA for want of money? Certainly not. IE business school Spain offers various scholarships to deserving students subject to the scholarship fund size and other factors. The student’s financial needs and talent are considered for all scholarships. IE business school scholarship can be – Open to all – Diversity-based – Value-based – Program-based
Usually, the IE business school scholarship deadlines are before the program’s start date unless specified otherwise.
What IE Madrid Looks for in Applicants?
IE Business School Spain follows a rigorous admission process, as expected from a business school of such high stature. Therefore, knowing how to get into IE Business School and the various steps involved can help you better prepare for the entire process. Here, we will discuss the admission process of the international MBA program in detail. However, similar processes with minor changes are followed for other programs as well.
To begin with, applicants must possess an undergraduate degree in any field. It must be noted that the IE Madrid evaluates the applicants holistically. The B-School likes dedicated professionals from diverse backgrounds who have the potential to become global leaders.
Therefore, your application should look good on various fronts, such as your interpersonal skills, professional achievements, future goals, and academic aptitude.
Steps Involved in the IE business school MBA Admission Process
Step 1: Online Application
You will need to create an account at the school’s admission portal to complete your online application. Alternatively, you can use your google account as well. Start by filling out your personal information, such as your full name, nationality, place of birth, gender, contact details, etc. You’ll also need to submit a short questionnaire related to your background check.
Next comes the About me section. You’ll need to provide details regarding your academic education and professional experience here. Take your time while preparing your curricular vitae. Your CV should highlight your professional achievements and ambition to excel in your career.
This is one of the most crucial parts of the application process, where you get the chance to stand out from other applicants. Simply put, you’ll be convincing the admission committee about why you deserve an IE business school MBA and how you plan to use your MBA education.
You’ll need to write a personal essay of 250-280 words on a given topic. Refrain from being generic or stating the obvious. Remember, the business school is interested in knowing your way of thinking. So, take this opportunity to show your personality’s unique traits and attributes.
Alternatively, you can upload a video (Maximum of 3 minutes) or a PowerPoint presentation (Maximum 10 slides). So, if you think you’ve got a charming personality or strong presentation skills, you can choose these options instead of writing an essay.
You’ll need to submit two letters of recommendation. So, fill out the details of your recommenders like their name, email id, etc. Then, they will receive an email with a link where they can fill out their reference letter for you. Alternatively, if you already have your recommendation letters, you can upload them in PDF or word format.
Choose your recommender carefully. The person should be well aware of your achievements and management skills. You can consider your immediate superior or your professional mentor for this role.
Step 2: Online Assessment
Assessment of your online application will begin after you’ve submitted the completed application along with the application fees. You’ll have to answer three live questions, one in written format and two in video format. The purpose of the admission team is to evaluate your ability to think on your feet and respond appropriately.
Step 3: Test Score
You’re required to take GMAT or equivalent tests. The average GMAT score for IE business school is around 650.
Step 4: Personal Interview
A manager of the admission team will take your personal interview either face-to-face or online.
Step 5: Final Decision
After the interview, the admission committee will holistically evaluate your entire application and inform you about their final decision regarding your admission to the IE business school MBA program.
Life and Career After IE MBA
After spending a year at a B-school obsessed with innovation, speed, and entrepreneurship, your overall perspective toward your career would change. Whether you want to build your own business or go for a corporate job, IE values will guide you to work toward achieving excellence relentlessly.
FAQs related to IE Business School MBA
1. Is it hard to get into IE Business School Spain?
The IE university acceptance rate is around 41 percent, indicating a highly selective admission process. However, it is still higher than similar top B-schools in the USA. Therefore, you can consider giving it your best shot and hope to get into the B-school.
2. Is there any two-year full-time MBA program at IE Madrid?
Like most B-schools in the EU, IE full-time MBA courses are of 1-year duration. However, they are internationally recognized and considered at par with typical two-year MBA courses in the corporate world.