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Are you toying with the idea of going back into higher education? If so, you may want to add the possibility of studying an advanced master’s to the mix. Why? Read on and you’ll soon find out.
What is an advanced master’s?
To get a better idea of what an advanced master’s is all about, we spoke with Dr Anne-Flore Maman Larraufie, Academic Director of the Advanced Master Strategy & Management of International Business (MS SMIB) at ESSEC Business School, which has several campuses around the world, including France and Singapore.
“An advanced master’s means we recruit people who already have a master’s degree or a four-year bachelor’s degree and want to pursue their studies before going into their professional career, or they simply want to switch careers,” said Dr Maman Larraufie.
A lesser known degree, but nonetheless just as reputable, valuable and challenging, the advanced master’s is an official and accredited postgraduate diploma from a higher education institution. It is generally tailored towards specific disciplines and is offered in only a few countries around the world – most commonly in France.
You don’t need any previous professional experience
“It’s called an advanced master’s because it’s in between a master’s and an MBA. As a result we don’t require any minimum year of professional experience either so you can apply straight after you’ve completed your first master’s degree,” said Dr Maman Larraufie.
All academic backgrounds are welcome
Even if you’re not a math whizz or your previous master’s or undergraduate degree wasn’t math or business related, it shouldn’t hold you back, according to Dr Maman Larraufie.
“We have some people who have studied the arts. I’m responsible for recruiting students and I think diversity also means diversity of academic background and not just nationalities,” she said.
Of course, there are still some rigorous requirements necessary for studying an advanced master’s, such as the General Management Admissions Test (GMAT): “Because we have a lot of finance courses in this program you do need to be ready to work with a lot of math and numbers.”
Go international and study all over the world
The opportunity to travel overseas for your studies is exciting and is a great way to tap into various cultures and their way of doing business. You’ll meet a diverse network of people too – from your class cohort to professors who all bring their own wealth of experience and knowledge.
From France to Singapore, at ESSEC Business School there’s a strong emphasis on training students who are capable of working with a global outlook.
It’s not about learning outdated business models, strategies and theories
Whether you study corporate strategy, strategic consulting, digital transformation or financial management, it’s important that institutions consider the demands of the current job market and develop a curriculum that aligns with such demands.
Doing so brings a sense of flexibility to the program, stops it becoming too stale and ensures students are up-to-date and tapped in with business models, strategies and theories that are relevant in today’s globalized world.
“This year we have introduced a couple of new things, such as a course which is about the legal implication of the digitalization of the world, as this is a new challenge for companies and education as well,” said Dr Maman Larraufie.
“We’ve shifted towards tracks which are going to be more focused on one specific area. For example we have a track dedicated to strategy consulting for international business departments which is for students who aim to become consultants in big consulting companies.”
Other modules that have recently been introduced on the MS SMIB curriculum include big data as well as the Internet of Thing (IoT) and the impact it has on business conduct.
There’s a strong emphasis on hands-on learning
As a former Advanced Master Strategy & Management of International Business student herself, Dr Maman Larraufie knows the importance of hands-on learning and what it means for not just your academic experience but professional experience too.
At the ESSEC Asia-Pacific Campus in Singapore, students jump straight into work with a seven-month consulting mission with a genuine company based in Asia. Opportunities to work with a real company, be it a start-up or a multinational corporation, are a sure-fire way of enhancing your professional skills as well as your industry acumen.
“It’s very demanding as companies are expecting a real result. It’s not just a project it’s a real job which students have to do for the company.”
You don’t need to follow a set career path after graduating
An advanced master can lead to a number of fruitful and lucrative career paths.
“Around 30 percent of our students will work in consulting and will go and work for traditional consulting companies, especially abroad. A lot of students have gone to work for the top consulting firms in Spain, Morocco, or China,” said Dr Maman Larraufie.
Many students embark on a career in marketing, with several going into the luxury marketing industry. Finance is also a popular route to take after graduating, especially in asset management and private equity, according to Dr Maman Larraufie.
Advanced master’s students who have an engineering or pharmaceutical background also benefit greatly.
“Roughly 50 percent of our students will have an engineering background and so we have a lot of them going into aeronautics and space, or defense companies and energy companies, such as EDF and GE.
“We also have approximately 15 percent of students coming from a pharmaceutical background who go on to work in business analytics or marketing within the pharmaceutical industry.”
