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IESE Business School stands out as a top-tier institution for those seeking to advance their careers through a Master of Business Administration (MBA) degree. With primary campuses in Barcelona and Madrid, IESE offers a world-class education that combines rigorous academic training with practical business insights. The school's reputation for excellence has led to its consistently high ranking among global MBA programs, attracting ambitious professionals from around the world.
This comprehensive guide delves into the key aspects of IESE's MBA offerings, including program structure, admissions process, and unique selling points. It explores the various MBA options available, from full-time to executive programs, and sheds light on the costs involved. Additionally, the guide examines IESE's acceptance rates and discusses why many consider it one of the best business schools in Spain and globally. By the end, readers will have a clear understanding of what makes IESE Business School a compelling choice for their MBA journey.
Program Overview
The IESE Business School MBA program offers a comprehensive and rigorous curriculum designed to develop well-rounded business leaders. The program structure is carefully crafted to provide students with a solid foundation in core business principles while offering opportunities for specialization and global exposure.
Read: What is an MBA Degree? An Expert Guide and The Top 5 International MBA Programs
Curriculum Structure
The MBA program at IESE is structured to provide a balanced and thorough business education. In the first year, students build a solid academic foundation in business development, acquiring a firm grasp of core management areas and developing a holistic management outlook. The second year allows students to reinforce their core leadership competencies and customize their learning experience through electives.
Year 1: Core Courses
The core curriculum is divided into three terms, each focusing on different aspects of business management.
Term 1
- Analysis of Business Problems
- Capital Markets
- Communication
- Decision Analysis
- Financial Accounting
- Leadership
- Marketing Management
- Career General Preparation
Term 2
- Business Ethics
- Managerial Accounting
- Marketing Planning and Implementation
- Operational Finance
- Operations Management
- Business Analytics
- Digital Transformation of Organizations and Markets
Term 3
- Competitive Strategy
- Corporate Finance
- Fundamentals of Entrepreneurial Management
- Operations Strategy
- Global Economics
Year 2: Electives & Exchange Programs
In the second year, MBA applicants have different program offerings to choose from depending on their goals and career interests. IESE offers a global exchange program with other top business schools – like Wharton, Yale SOM, and HEC – as well as international modules (see below), and electives.
Electives
IESE offers a wide range of elective courses to allow students to tailor their MBA experience to their career goals and interests. More than 40 electives are available each term, including intensive electives that take place during the first two weeks of the term. These electives enable students to deepen their knowledge in specific areas of business and explore new fields of interest.
MBA Concentrations: To narrow down the elective offerings, students can choose to specialize in a specific area during their program. The concentrations available at IESE include the following.
- International Business
- Business in Mexico
- Business in China
- Reframing the Future of Business
- Doing Business in Africa
- Emerging Economies
- International Management
- Strategy and Geopolitics
- Cross-Cultural Negotiation
- Managing Global Economies
- Finance
- Corporate Finance in Emerging Markets
- ESG and Impact Investment
- International Financial Management
- Merger & Acquisitions
- Personal Finance
- Real Estate Investments
- Corporate Restructuring
- Fintech
- Sustainable Finance
- Value Investing
- Pricing and Revenue Analytics
- The Rising of Fintech
- Cryptonomics
- Tech, Data Analytics & Digital Business
- Data Science for Business
- Digital-Driven Organizations
- Digital Commerce
- Managerial Decision Models
- MarTech: Data, Technology and Business
- Machine Learning
- Python Bootcamp for Data Analysis
- Digital Business Models
- New Technologies and Scenario Planning
- Web scraping
- Social Media Analytics
- Information Visualization
- Entrepreneurship & Innovation
- Business Model Innovation
- Corporate Entrepreneurship
- Creativity & Laboratory of Ideas
- Design Thinking and Innovation
- Entrepreneurial Finance
- Innovation Strategy
- New Ventures
- Sustainable Entrepreneurship
- Acquisitions & Search Funds
- Managing Social Ventures
- Venture Capital & Private Equity
- Sustainability & Responsible Business
- What is Business for?
- Cities in Motion
- Corporate Governance
- Leading the Energy Transition
- ESG Risk Management
- ESG and Impact Investment
- Strategies for Impact
- Managing Social Ventures
- Strategic Board Governance
- Strategy and Sustainability
- Social Impact & Sustainability
- Consulting
International Modules
A unique feature of the IESE MBA program is the opportunity to participate in international modules. These modules offer IESE students a chance to gain global business exposure and insights into different markets:
- Locations: International modules are offered in various cities worldwide, including New York, São Paulo, Shanghai, Nairobi, and Dubai.
- Structure: These modules are generally structured as multidisciplinary seminars, where several professors introduce business and leadership topics relevant to the respective locations.
- Learning Experience: Students engage in case discussions, roundtable discussions with guest speakers, and site visits to local companies.
- Duration and Timing: International modules typically last one to two weeks and are offered during different terms of the academic year.
- Academic Credit: Each international module is worth one IESE credit, equivalent to approximately 25 contact hours.
These international modules provide students with valuable cross-cultural experiences and help them develop a global outlook. They offer direct insights into business practices in important global locations, enhancing students' understanding of international markets and management challenges.
By combining a strong core curriculum, diverse electives, and international exposure, IESE's MBA program equips students with the knowledge, skills, and global perspective necessary to succeed in today's complex business environment.
The Executive Simulation (EXSIM)
The Executive Simulation is a unique offering of IESE. As the website states:
“The Executive Simulation (EXSIM) program at IESE offers students a unique opportunity to live managerial situations with a corporate board, providing a real-life experience without the need to leave the classroom. Through interactive engagements with actual board members, including those from banks, trade unions, and corporate boards, participants gain valuable insights into board dynamics and enhance their ability to think on their feet.
EXSIM is a week-long course designed specifically for students enrolled in one of IESE’s MBA degrees. Its primary aim is to create realistic managerial scenarios that enable students to acquire new knowledge through a hands-on approach to learning. Since these scenarios typically fall outside the scope of their current professional activities due to their relative youth, students learn by immersing themselves in anticipated work conditions.”
Read more about it here.
Interview With the IESE Director Deputy of Admissions
Watch this interview with an AdCom of IESE and a Leland MBA coach, Jesse L. You can work with Jesse on your own applications here.
IESE MBA Programs
IESE Business School offers a range of MBA programs designed to cater to diverse professional needs and career aspirations. These programs are structured to provide comprehensive business education, global exposure, and leadership development.
Read: The Different Types of MBA Programs—and Which One is Right for You
Traditional MBA
The full-time MBA at IESE is a transformative 15 or 19-month program aimed at professionals with 5 to 7 years of work experience. This program offers a deep dive into global business, providing students with a breadth and depth of knowledge across various management disciplines.
Key features of the Traditional MBA include:
- Customizable learning experience through electives, internships, international modules, and exchange programs.
- First-year focus on building essential competencies and knowledge.
- Summer options for 15-month and 19-month formats, including courses in Marketing, Information Systems, and Entrepreneurship, or gaining industry experience.
- Opportunity to spend the first semester of Year 2 at world-leading business schools across five continents.
- Elective courses offering concentrations in International Business, Finance, Tech, Data Analytics & Digital Business, Entrepreneurship & Innovation, and Sustainability & Responsible Business.
Executive MBA (EMBA)
IESE offers two part-time, executive MBA degrees:
- The Executive MBA
- The Global Executive MBA
The Executive MBA at IESE is an 18-month program designed for professionals with an average of 10 years of work experience who are looking for an advanced, global business education. This program aims to prepare participants for the challenges of today's interconnected, global business world. It’s available on the Madrid, São Paulo, Munich, or Barcelona campus and the format is part-time and on-campus – either weekly, biweekly, or triweekly, depending on the location chosen.
Key aspects of the EMBA program include:
- Over 300 different cases, international weeks, and 1,500 hours of individual and collaborative work
- High-quality faculty members, students, and a rigorous curriculum
- Personal tutoring and continuous feedback throughout the program
- Diverse cohort for rich peer-to-peer learning experiences
- Team-based projects and business simulations
- International weeks in Nairobi, New York, São Paulo, and Shanghai
- Global Leadership Series featuring renowned CEOs and executives
- New Frontiers Series focusing on specific management trends
- In-company projects with leading companies
- Executive-Management Simulation Program (EXSIM) for enhancing strategic thinking
The EMBA program fee is €82,000 for the Madrid and Barcelona campus, and €85,900 for the Munich campus. IESE offers scholarship programs for promising EMBA students capable of making a significant impact on business and society.
IESE also offers a 17-month Global Executive MBA, a blended program taking place in five business hubs: Barcelona, New York, Munich, Silicon Valley, and Asia. This program is designed for participants with an average of 15 years of experience aiming to become truly global leaders.
Note that in addition to these global executive MBA programs, IESE offers a series of non-degree granting executive education programs for a global business education. For example, functional managers should check out the Program for Management Development; senior executives should take a look at the General Management Program and C-Suite Pathway Program; C-Suite executives should consider the Global CEO Program. See all the options here.
Other Degrees
IESE offers the following master’s and PhD programs:
- MBA + Executive MBA/Global Executive MBA
- Master in Management (MiM)
- Master in Research Management (MRM)
- PhD in Management
Admissions Process
The admissions process for IESE Business School's MBA program is designed to identify candidates whose ambitions and abilities align with the program's rigorous challenges. The process involves several steps, allowing both the school and applicants to determine if IESE is the right fit for their goals and aspirations.
Application Requirements
To apply for IESE's MBA program, candidates must have completed a bachelor's degree or equivalent. The application package includes several components:
- Application fee (200€)
- Online application form
- Kira video essays
- As the website states: “This year you will also complete a Video Essay as part of the application. Once you submit the written application and pay the application fees, you will receive a Kira Video Essay link (within 24-hours) to be completed by the Application Round Deadline. The link will expire in 48-hours after receipt, hence to provide yourself with adequate time we recommend submitting the written section a few days ahead of the deadline. There will be two video essay questions that you will be required to complete. We will consider your application as complete and ready to be reviewed only once we have received your answers to the video questions. All instructions for this section will be shared with you along with the link.”
- Mandatory essays
- Official transcripts
- GMAT or GRE scores
- English test results (if applicable)
- Passport-sized digital photograph
- One recommendation letter
Deadlines & Key Dates (2024-2025)
IESE Business School utilizes a rolling admissions process with four rounds throughout the year. For the MBA Class of 2027, the application deadlines are as follows:
- Round 1: September 26, 2024
- Round 2: January 9, 2025
- Round 3: March 20, 2025
- Round 4: May 6, 2025
It's important to note that applying early can be advantageous. The school recommends that non-EU citizens apply before Round 3 to ensure sufficient time for visa procedures. Additionally, 70% of scholarships are typically awarded in the first two rounds.
IESE MBA Class Profile
Overview
- Class Size: 350+
- Average Years of Experience: 5.4
- Average Age: 29
Demographics
- Women: 39%
- International Students: 85%
- Geographic Origin
- Asia: 24%
- North America: 20%
- Latin America: 20%
- Europe (excluding Spain): 16%
- Spain: 15%
- Middle East & Africa: 5%
- Previous Experience
- Corporate Sector: 45%
- Financial Sector: 30%
- Consulting: 25%
Academics*
- GMAT: 580-750
- GMAT Focus: 545-715
- GRE: 143-170 (Verbal); 143-170 (Quantitative)
*IESE recommends aiming for scores at or above the 50th percentile. It's important to note that test scores are just one aspect of the application, and a high score does not guarantee admission, nor does a below-average score automatically disqualify a candidate.
Interview Process
The interview is a crucial part of the admissions process at IESE. If invited for an interview, candidates can expect the following:
- Duration: Typically 45-60 minutes
- Format: May be conducted online or in-person, depending on location and interviewer preference – your interview can be on the IESE campus in Barcelona, online, or with admissions directors who travel around the world to meet candidates.
- Language: English
The interviews are non-blind, meaning the interviewer will have reviewed all application materials, including the video essay.
Read: How to Ace Your MBA Interview: With Prep Questions & Answers
Assessment Day
In addition to the interview, some candidates may be invited to participate in an Assessment Day. This unique feature simulates a classroom environment using IESE's Case Study methodology. The Assessment Day typically includes:
- A group case discussion
- Smaller group breakout sessions
- A final case discussion with the larger group
The Assessment Day lasts about 2.5 hours for virtual events and may be longer for in-person events. Candidates receive the case study approximately one week in advance. This part of the process is not required for all candidates if the school already has enough information on your candidacy. Participation is not mandatory, even if you are invited, but it is highly recommended. As IESE says, “This is your chance to shine.”
Work 1:1 With an MBA Admissions Coach for Personalized Application Help
Why IESE Business School?
Case Method Approach
IESE Business School employs the case method as its principal learning methodology, setting it apart from traditional lecture-based programs. This approach connects theory to practice by analyzing real business cases, fostering the development of crucial managerial capacities. Students actively contribute ideas in dynamic learning classes, preparing them for strategic decision-making in companies through the practice of real situations.
The case method, first used at Harvard in the early 20th century, has gained popularity due to its effectiveness in developing knowledge, skills, and attitudes among experienced students. It allows participants to shape new perspectives through active listening, improve critical judgment through discussion, and expand their capacity for diagnosis and reflection.
Bilingual Opportunities
IESE offers a unique Bilingual MBA Path, allowing students to study the entire MBA in English or choose a bilingual option. The Business Spanish Program (BSP) enables students to study business Spanish alongside their MBA, culminating in a "Bilingual MBA" degree upon completion of the program and a successful DIEN exam.
This bilingual approach enhances students' global reach and cultural understanding. As one student noted, "Learning Spanish has made my time in Barcelona truly unforgettable. It helps you build stronger relationships with the locals and grow in your appreciation for the subtleties of a unique culture".
Leadership Development
IESE's programs consistently rank among the best in the world by the Financial Times, offering a deeper understanding of people, companies, and contexts. The school provides various programs tailored to different career stages, from senior managers to C-suite executives, focusing on developing leaders with a global outlook and polished business acumen.
For instance, the Program for Management Development (PMD) is designed to boost decision-making abilities and leadership skills for experienced senior managers and functional directors. Participants gain exposure to cutting-edge thinking in global business management and build impressive networks with up-and-coming business leaders.
Entrepreneurship Focus
IESE fosters an entrepreneurial spirit through its Entrepreneurship Department, which has led a third of its alumni to participate in company creation at some point during their careers. The school offers various resources for entrepreneurs, including the Finaves venture capital fund, which provides seed money for alumni entrepreneurs, and the Business Angels and Family Office Network.
The curriculum includes courses such as Fundamentals of Entrepreneurial Management and Entrepreneurial Strategies for Social Impact, preparing students for new venture creation and intrapreneurship.
Career Opportunities
IESE's Career Development Center provides crucial support for MBA students entering the job market. The school's 2023 MBA employment report revealed that 94% of graduates secured job offers within three months of graduation. Top recruiters include renowned firms such as Amazon, Bain & Company, and McKinsey & Company.
The IESE MBA equips students with the knowledge, skills, and global insights necessary for success worldwide throughout their careers]. The school's strong reputation attracts leading companies seeking talented individuals who can deliver value across various sectors and locations.
Global Presence
IESE Business School boasts a truly international and global mindset, with teaching staff from all five continents and over 57,000 alumni representing 155 different nationalities. The school maintains campuses in Barcelona, Madrid, New York, Munich, and São Paulo, offering a wide range of program offerings.
Furthermore, IESE has developed a worldwide network of associated business schools since 1967, contributing to the founding and development of 15 associated schools, mainly in Latin America and Africa:
- IPADE – Mexico City
- UNIS – Guatemala City
- IAE – Buenos Aires
- PAD – Lima
- AESE – Lisbon
- INALDE – Bogotá
- IEEM – Montevideo
- LBS – Lagos
- IDE – Guayaquil
- UA&P – Manila
- ISE – São Paulo
- ESE – Santiago de Chile
- MDE – Abidjan
- SBS – Nairobi
- TIMONEY – Dublin
Conclusion
IESE Business School has a significant impact on shaping global business leaders through its comprehensive MBA programs. The school's commitment to the case method, bilingual opportunities, and focus on leadership development equips students with the skills to tackle complex business challenges. Its strong emphasis on entrepreneurship and global presence also provides students with a unique perspective to innovate and succeed in diverse business environments.
To wrap up, IESE's stellar career opportunities and high employment rates showcase the program's value to students and employers alike. The school's worldwide network and partnerships with top institutions further enhance its reputation as a leading business school. IESE Business School continues to be a top choice for those looking to advance their careers and make a lasting impact in the business world.
FAQs
Is IESE a good business school?
- IESE's MBA program is distinguished by its excellent career center and a robust alumni network of 57,000 executives across over 150 countries, ranked fifth worldwide. Additionally, the program is renowned for its emphasis on sustainability leadership.
What is the acceptance rate of the IESE Business School MBA program? Is it hard to get into IESE?
- The IESE MBA acceptance rate is around 25%. IESE is decently competitive to get into with one in four applicants being granted admission.
What range of GMAT scores is considered for admission to IESE programs?
- IESE Business School considers a variety of GMAT scores for its MBA program admissions, ranging from 580 to 750, with a recommendation for scores to be above the 50th percentile. For the GMAT Focus edition, the accepted range is from 545 to 715.
Where is IESE Business School in the world MBA rankings?
- IESE is ranked highly among both national and international MBA rankings. Most recently, it was ranked third in Europe overall, while its executive education sits at number 2 in the world. The Financial Times listed IESE as the fifth-best MBA program.
How much does IESE Business School cost?
- The total IESE MBA cost is €105,000. Year 1 is €42,500 and Year 2 is €52,500. There is also a commitment fee of €3,000 and tuition installment of €7,000.
What is the average salary for an IESE MBA?
- In 2024, the average annual base salary for IESE MBA graduates was €99,500, or about $109,100, with a range of €45,000–€194,800. This is a 7.6% increase from 2022 and a 13.6% increase from 2021. The average other compensation was €66,900, with a range of €3,000–€361,700, which includes bonuses, incentives, and other supplementary income.
