Meet Our Expert: Eliana el Hage, IE Business School
Eliana el Hage is currently the Associate Director for the Asia pacific region in the International Development Department at IE Business School. She is a Lebanese native and speaks four languages fluently. Her academic achievements include a Bachelor´s degree in Business Administration from at the American University of Beirut as well as a Master in Marketing Management from IE Business School. Since completing her Master´s degree, she has held various managerial positions at IE, where she has contributed to numerous projects concerning global marketing, branding, and strategy. Eliana is passionate about personal branding and has taken various courses in the subject, specializing in social media.
Eliana Answers Your Questions
We receive a wide range of questions from students. Answers from Eliana are posted below.
Question: I have 3 years of work experience in an automobile company and I am not able to see any tangible benefit of leaving my job to get an MBA. Can you please help me out with the life after MBA?
Answer: If you are looking to change your career or if you would like to advance to a more managerial level, you could consider an MBA. An MBA is a big investment of your time and money and hence be sure of your career goals before you decide on an MBA.
Question: With the current European economic slowdown, how is the placement scenario looking? Being a foreign national, how good are my placement chances? What has been the average salary range for students passing the MIM programme?
Answer: Despite the economic slowdown, around 90% of IE students are placed 3 months within graduation. Our placement reports showing the salary range can be downloaded from our site. Our students work in different parts of the world including India, Singapore, Dubai, Hong Kong, EU, UK, US and Latin America. Keep in mind that no foreign business school ever guarantees a job.
Question: Given the slowdown, is there any fee reduction that the school has undertaken or special scholarships that have been started?
Answer: There has been no slowdown in the number of students who wish to do an MBA. We do offer scholarships and you can visit www.ie.edu/financialaid for more information on our funding options.
Question: I have no knowledge of Spanish language. Will it be difficult for me to get placements? Is there any facility provided by the school for learning the Spanish language?
Answer: Knowing Spanish is not a pre-requisite to get admissions or to find a job. However, if you know Spanish it will make your job search in Spain and Latin America possible. If you wish to learn Spanish, you can arrive at our campus one month before and we have free Spanish classes.
Question: How many seats are reserved for foreign nationals for the MIM programme?
Answer: We do not reserve any seats for any particular nationality. Our classes are diverse and we admit students from over 50 countries.
Question: Do you prefer students with specific work experience? Are there any specific sectors (work experience) that you give more weight to in your selection criteria?
Answer: For the MIM work experience is not needed. However, if students wish to apply for the IMBA, they will need at least 3 years of work experience.
Question: What are the key qualities that the school looks at while selecting a candidate for the MIM programme?
Answer: We value diversity, good academic grades, strong leadership and networking potential and good scores in the GRE, GMAT or IE Global Admissions Test.
Eliana answers some common questions about IE Business School below.
About IE Business School
- School location: Madrid, Spain. We have an urban campus in one of the best business areas in Madrid, in the financial centre.
- Year started: 1973
- Global ranking: Financial Times, January 30 2012, MBA Ranking 3rd in Europe, 8th worldwide; Financial Times 2012, Global Masters in Finance Ranking 2nd worldwide
- Name of the program: Master in International Management (MIM)
- Full Master in Management Brochure (pdf)
- Full Career Placement Report (pdf)
- GMAT scores: The average GMAT of the class is around 670; however we do have a holistic approach, so the GMAT is only one part of the application. Another option is to do our own admission test.
- Work Experience Requirement: No work experience required: Most of the students on the MIM class have between 0 and 2 years of work experience.
- English Proficiency Requirement: If you have done your undergraduate degree in English then the English proficiency requirements are waved. Otherwise: TOEFL minimum of a 100 or IELTS minimum of a 7.
- Letters of Recommendation: Two letters of recommendation are required: From previous employers or from previous professors.
- Interview/Group Discussion: After submitting your application, we do an interview in person or over Skype. You should complete our online application, which consists of questions about yourself, your professiona, and/or personal experience.
- How does one apply for the programme? Online, you create a username and password for your application and you can access it at anytime.
- When does the application process start? The sooner the better, a year before the program’s start date is the best.
- What is the last date to apply? We have a rolling admission process so there are no deadlines. However we do advise that you apply at least 6 months before the program’s start to guarantee your place and have enough time to issue your visa.
- When should I expect an invitation for an interview? Two weeks after submitting your full application.
Fees & Other Expenses
- What is the estimated cost for the entire program for a foreign student? 30,200€.
- What is the cost of living for the duration of the programme? The duration of the program is 10 months (up to 15 months if you opt for the optional Beyond Borders Experience period). The costs of living vary according to many factors:
- Housing (Shared, Off Campus): 400-600€/month, shared in a 2-3 bedroom flat, shared utilities.
- Housing (Off Campus): 750-1800€/month, most students live in the neighborhood surrounding IE.
- Communications: 100€€/month for mobile, Internet at home.
- Health Insurance: 50€/month, paid monthly (this is a required service).
- Food and Other Expenses: 400-600€/month, includes the basics plus a budget for social activities.
- Transportation: 50€/month (monthly pass for all public transit services).
- Are there other costs to be taken into consideration? The cost of books, however not all of them are mandatory. If candidates choose to study the optional Beyond Borders Experience (BBE), there is an additional fee of €5,000.
- Are there any job opportunities on campus that can be pursued while the programme is on, to lower the overall cost impact? Yes, you can apply for a fellowship, where in return for a fee discount you can work for the university (around 4 hours per week, depending on the amount you get).
- What are the financial support option available to students? We have various scholarships, some of them are merit based, and others are need based. You should try to find the scholarship that best fits your profile, and you can apply to up to three scholarships. Our scholarships cover up to 50% of the tuition fees.
- What are the criteria for determining scholarship applications? Need and merit.
- What are the options of availing a loan? We have three different loan options with Spanish banks designed especially for our international students. More information.
- What is the amount of loan that a student is eligible for and what are the documents required? A maximum of 30,000€. Each bank has different requirements, please check the above link for further details.
- At what rate of interest is the loan available? What is the date from which loan repayment begins? What is the maximum period in which a loan is to be repaid? Each case is studied separately and the loans conditions depend on the banks, please consult the financial aid department for further details.
- Does the Institute/School help in getting loan? IE provides the agreements with the bank, once the student has his final admission, the financial aid department can guide him through the application to a loan from one of our partner banks.
Curriculum/Faculty/Student Exchange/Hostel Accommodation Facilities
- How many intakes in a year and when? For the Master in Management we have two intakes per year: September and February.
- Size of the intake? Each intake is between a 100 and 150 students divided into different sections.
- What is the percentage of foreign students in an average class/intake? The English sections are 90 percent international.
- What are the specializations available? Marketing and Sales, Digital Business, International Business
- What percent of the batch finds jobs within 3 months of graduation? 89 percent
- What is the mean starting salary of a class after graduation? Average Salary €39,500.
- What are the key sectors represented in recruiters for this programme? Placement by function (percent):
- Consulting 31%
- Marketing / Sales 27%
- Finance and Accounting 18%
- General Management 12%
- Other 8%
- Information Technology and Telecommunications 5%