Dear all,

My name is Vanessa and I am a Romanian student studying International Business Administration at the Vienna University of Economics and Business. Even though I?m going to finish my studies next year, I started looking for Universities where to continue with my Masters Degree.

Due to ?lack? of money, I decided myself for University of Monaco, which offers great programs in Luxury Management (can?t decide between Luxury Goods and Luxury Hospitality/Event Management) and it costs ?only? approx. 19.000? (in comparison with other Universities where a Master Degree costs 30.000? or even 50.000?+).

I?ve got a 2 months internship in an automobile company in the accounting and marketing sector and 1 month internship in a bank in asset management. However, none of those internships I mentioned are the kind of internship that I?m interested for. I am also working as a sales consultant in a tiny shop for men?s fashion, but it doesn?t offer me any development opportunities either. All what I know, is that I would like to work in fashion industry, to organize fashion events (fashion week ..), to travel a lot and to deal with a lot of people.

What kind of internship would you recommend to someone considering fashion industry? Should I try to find an internship at a modeling agency? What kind of job opportunities do you see?

I would be grateful for any advice! I am very confused because I don?t have anyone to get advice from.

Regards,
Vanessa

Hi Vanessa,

It's important to understand that luxury, arts and fashion are not rational market sectors. Employees take a substantial discount, or work for free. If you want to do this work, I would really recommend that you secure an independent income, perhaps a well-paid part-time role in finance or specialist consultancy, and then use that to subsidise your work in fashion.

Monaco is certainly not a terrible choice, but much of the discussion on this website about luxury MBAs also applies to MSc. You might be better off perfecting your French, if France is your focus, since you have studied an excellent degree from the WU.

Take a look at:
http://www.find-mba.com/board/27126 and
http://www.find-mba.com/board/22293

Also, use this approach to find people working in fashion events: http://www.find-mba.com/board/33571 I ran this search (http://www.linkedin.com/search/fpsearch?keywords=fashion+events&searchLocationType=I&countryCode=fr&keepFacets=keepFacets&page_num=1&pplSearchOrigin=ADVS&viewCriteria=2&sortCriteria=R&redir=redir) and it seems that in France the top schools are the various Sorbonnes, INSEEC and ESCP.

If your English is better than your French, then I see that the top UK school are the various part of the University of the Arts, Leeds, Manchester Metropolitan, Nottingham Trent... rather than noted business schools (http://www.linkedin.com/search/fpsearch?keywords=fashion+events&searchLocationType=I&countryCode=gb&keepFacets=keepFacets&page_num=1&search=&pplSearchOrigin=MDYS&viewCriteria=2&sortCriteria=R&facetsOrder=CC%2CN%2CI%2CPC%2CED%2CL%2CFG%2CTE%2CFA%2CSE%2CP%2CCS%2CF%2CDR%2CG&redir=redir).

On reflection, rather than a fashion MSc I think a much better alternative will be an MSc in events management. This will give you a solid career path. Bournemouth University is good for that, and as a EU national you also benefit from very low fees in the M.Sc.International Management pathway for Event Management at Richmond, the American International University in London. That's a great school.

Take a look at http://www.mastersportal.eu/search/?q=kw-events%7Clv-master%7C%7Cdacdf53f&new

Dear JK Duncan,

thank you for your fast replies, it helped a lot, especially the website mastersportal.eu!

I must say, my French is miserable! So I must focus on Master's Degree in English. I also speak perfectly German, but it's not significant. I took a look at the website, and I want to ask you a question. Why do you think that the Bournemouth University or the American International University in London are better than the University of Monaco? (regarding MSc in Event Management). It is true, that the tuition fee is not so high, but on the other side the University of Monaco offers/guarantees a 6-month internship in a luxury company.

Reading your first post, I didn't found an answer for one of my questions. On what kind of internship/job should I focus this last year? Should I either try to find a job in an event management company or maybe a cooperation with a luxury fashion brand?

A tought just crossed my mind. Maybe an internship at Mercedes-Benz Fashion Week? The first internship I've done was for the Mercedes-Benz automobile company - even though this may be irrelevant.

Hi Vanessa, it's not just that the *degree* should be in English. The IUM has alumni, and thus brand equity, in Monaco and France. It has a modest network in Italy too. But organising an event requires knowledge of the local language so you can speak with internal and external clients and suppliers.

If you don't want to learn French or Italian first, then I don't see the point of studying at IUM. If you just want a six months internship, then you spend nine months at a university in Paris, studying the language in the morning and hunting for internships in the afternoons. There are more opportunities in Paris than in Monaco, and your knowledge of English, Germans and Romanian might be useful. I am sure that would be more effective route for you into events management in France than a year at the IUM, and cheaper. The language is key.

In the UK, Richmond University is a luxury boutique. Not many people know it. The students and the experience will be excellent, on a par with Central St Martins or the London College of Fashion, which you should also look at. Many of not most of the students will be Americans, and that's great because of the energy, positivity and self-confidence of Americans abroad. It has the other huge advantage of being in London.

The Mercedes idea isn't bad...

Hello again Dukan!

It has been a while since our last talk. Now in September I will receive my Bsc. Degree at the WU and I still can't decide which career path should I go. I volunteered at the Mercedes-Benz in Berlin last year, but it didn't meet my expectations. It's very nice to see the FASHION SHOW, but working backstage wasn't interesting for me. I am aware that a career path in this industry is very risky. Now that I will receive my Bsc. Degree, I cannot say that I am a specialist in something. I do have a good overview of Economics, Marketing, Finance, Accounting, Controlling, Management.. but if somebody would propose me a job in one of the fields mentioned above, I wouldn't know how to start with.. and after doing my one-month intership at Deutsche Bank (which was the worst experience I've ever had because they didn't teach me anything but they had expectations to do all the things right without asking something) I must admit that I am really scared of how the real working life will be. That's a reason why I want to focus on small and medium enterprises and not on multinationals (my specialisations are Finance and SME). I don't know what I like to work - I do like to have contact with many international people and to travel a lot - a fact which is discouraging me atm. However, I am decided to start my Master's Degree next year in September and to work something this year or to do an internship. I also find the tourism industry very interesting (eg. Dubai Hotels or something at a seaside).. but I don't know if you would advice me to do my Master's Degree in this sector and if I could be well paid after finishing it? Finance is well paid but I don't like it at all. Or eg. a Master in Marketing would be enough to start working in such a hotel? On one hand I need a good University with a structured programm and low fee (of financial aid), but on the other hand I am aware, that I can do a great job only with lots of work - and that I am not like the people which are doing this because this is their passion. In the end, it will be a difference between those who are studying because they are obliged to (parents, certain circumstances etc) and those which are doing this because they love it. I am used to how WU structured the courses and I must admit that, if it was anything that I've hated at this University was all the presentations that we had to have in front of the public..

Do you have any good advices for me? I would be very grateful! I don't know who else could help me. I think it would be also great if the University would have an internship or a cooperation with a company included in the programm..

Thank you in advance,
Vanessa

You have a lot of questions, and I think that answering them would produce more questions. I suggest that you speak with the careers team at WU, because you really need a conversation. If you want an answer from me specifically, please read my profile page.

Sounds like you'd be better off going out into the workforce for a few years and really getting a sense of what's out there. I don't know if a master's degree, especially in business, is really valuable unless you have some kind of practical experience that you can build on.

Hi Duncan. I am so happy to have found my posts from last year. Many things have changed.

I received my BSc. degree at the WU and last year in September I started to work as a Junior Sales and Product Manager in a fashion company (SME) specialized also on corporate fashion. I love what I do but I am very low paid in comparison with my friend which is working in the IT branch as a consultant and earns with 40 % more than I do.

Meanwhile I have checked how important the local language is and that it doesn't make sense to do a Master in a country where you don't speak the local language. Unless you don't plan to stay there. Ranking in Management is limited in a country where you do not speak the local language. Ranking in Management is also limited in countries where you do speak the local language but you only have the Bachelor Degree. This is the second reason why I decided now to finally start as soon as possible with my Master. First reason was the poorly paid job.

First choice is the MAFED at the Bocconi in Milan. Since Romanian is very similar to Italian it would not be a problem to learn quickly Italian. Second choice it would be the MBA in Luxury Business Management also at the Bocconi. MAFED application deadline is not in September. Next month I will take the TOEFL examen. But I am still undecided if I should go for MAFED or if I should find another job and go for the MBA next year.

What is more, I am aware of the fact that often it doesn't make sense to do a Master taught entirely in English in a country where English is not the local language. Many of the graduates return their home country and consider the Master/MBA as an positive experience. Now I am not sure if if should go for the MAFED - It wouldn't mind if I would be working in another industry than Textiles. Like Jewelry. My only concern is that having already a Master specialized in Fashion it would be hard to get a job in another industry than Fashion. Especially then when I have worked for almost 3 years now in the Fashion Industry.

Can you please give me some advices with regard to my actual situation? I don't think that other countries than Italy would come into question for my Master/MBA. This year I visited Paris and London. Paris is a very beautiful city where I would live for the rest of my life but only if the local language wouldn't be French. London was the greatest disappointment. I wouldn't live there for a second. I do not have many options on the moment.

I would really appreciate if you could give me some advice. I don't know what to do.

Looking forward to hearing from you.

Best regards

Vanessa

If you reread the thread from the top you really do seem to have excellent answers already. I have worked with several Romanian women who have passed very successfully through western European business schools and learnt the language. You sound as smart, tenacious and able as them. Pick where you want to be. Learn the language during 4 months to B2 and then study in the target language. This will be cheaper and then will build both your vocabulary and your network. Either do this part time to get work experience and salary or full time. I am sure that if you are hard working, focussed on your goals and chose a country you can love, then you will be successful. If Paris is interesting, take a look at Novancia.

Could you suggest an MSc or an MBA in luxury that includes a substantial internship component? (at least 3-6 months)

SDA Bocconi's luxury track has an in-company project between July and September, maybe look into that one?

Thank you! I am also considering these business schools:

ESSEC
Skema
Alma Graduate School

Do you have a suggestion on which one(s) I should apply to?

Luxury is a tricky field, and some issues are addressed elsewhere on this board. In general, though:

Luxury companies don't recruit a lot of MBAs, especially in Europe. They do, however, recruit nationals from developing countries where they're expanding to. Many students from places like India and China use luxury MBAs in Europe to go back to their home companies to help brands get established. If that's your goal, the programs you're looking at, especially ESSEC and Bocconi, are good choices. An intership will help.

If you're looking to transition into western Europe, though, this is more difficult. Language skills are essential, so if you speak fluent French ESSEC would be a good choice.

My goal is to work in a country in Europe in the luxury field. I speak French fluently and I am planning on starting Italian soon. Do you recommend France over Italy, in my case??

ESSEC and HEC are the obvious options.

Sounds good, thank you!