Study options

Industrial Engineering and Management, Master of Science (Technology)

What opportunities do new technologies bring about for companies? How can the necessary changes be implemented? How to motivate employees to embrace change as a leader? The Industrial Engineering and Management (IEM) programme answers these questions while educating future leaders and changemakers who know what it takes to create, lead and transform technology-based businesses.
Aalto University / students doing group work / photography Unto Rautio

Degree:

Master of Science (Technology)

Application period:

1.12.2022 – 2.1.2023

Language of instruction:

English

Duration:

2 years, full-time

Eligibility:

Relevant Bachelor's degree

Field of study:

Technology and Engineering

Credits:

120 ECTS

Organising school:

School of Science

Tuition fees:

For non-EU/EEA citizens, €15000/y (Master’s studies)

The next application period will open 1.12.2022 09:00 (UTC+2)

Applying to master’s programmes

Webinar | Industrial Engineering and Management

Learn more about Master's programme in Industrial Engineering and Management. Watch the Webinar recording where programme representatives and students tell more about the studies, career possibilities and answer some other questions you might have.

Watch webinar recording
Students doing group work

Description

The Master’s Programme in Industrial Engineering and Management is a unique combination of engineering, business and leadership studies. The recent growth in the importance of digital technologies and the on-going digitalisation of companies and society make the skills that our graduates have even more valuable. In particular, the ability to understand and integrate technology and engineering on the one hand, and business and management on the other hand is becoming increasingly critical.

Upon graduating from the Master’s Programme in Industrial Engineering and Management, graduates will have:

  • An integrative understanding of technology and business. You will understand how technologies and business processes are connected to value creation and building competitive advantage.
  • Strong leadership and people skills. You will be equipped to lead and develop organisations and motivate people to realise their inherent potential.
  • Practical problem-solving and strong analytical skills. You will be skilled in data crunching, building statistical models, and applying the data to solve problems and create business value.
  • A can-do attitude. You will be confident and willing to face challenges and tackle new tasks with determination.
  • An entrepreneurial mindset. You will be able to identify innovative opportunities for adding value for technology-based businesses.
  • Broad knowledge of various organisations. You will be able to apply the learnings to a wide scale of technology-based businesses from early-stage startups to large multinational corporations.
  • Hands-on experience. You will have practical experience in putting what you learn into action within the context of technology-based businesses.

Tuition fees and scholarships

Aalto University’s tuition fee for master’s programmes taught in English is 15 000 euros per academic year. Tuition fees apply to citizens of countries other than those of the European Union (EU), the European Economic Area (EEA) or Switzerland.

Aalto University has a scholarship programme to support non-EU/EEA citizens who study in a fee-charging degree programme. The scholarship may cover 100% or 50% of the tuition fee.

More information on tuition fees and scholarships at Aalto University is available at the Scholarships and Tuition Fees webpage.

Structure of studies

Industrial Engineering and Management is organised by the School of Science and comprises a total of 120 ECTS credits. The two-year programme consists of:

  • Major (45 ECTS)
  • Minor (20 ECTS)
  • Electives (25 ECTS)
  • Master’s Thesis (30 ECTS)

The variety of courses provided is extensive, covering topics like entrepreneurship, innovation, finance and organisation design and leadership. There are several common core courses for all three majors, on which more information can be found in the next section.

The minor is chosen from a technical field and guarantees that the student acquires the appropriate level of knowledge in a technical discipline. The minor can be chosen from an appropriate field of engineering, where appropriateness depends on the student’s educational background. To learn more about choosing the minor, please visit the student portal Into (into.aalto.fi).

Specialisations

The programme offers four majors. Students are encouraged to choose their major before starting the programme. It is noteworthy to mention, however, that the majors have many overlapping themes and there is a variety of optional courses. Therefore, choosing a specific major does not bind the student to a fixed curriculum or a career path, but allows them the flexibility to develop their unique competency profiles.

There are four majors in the Master's Programme in Industrial Engineering and Management:

Organization Design and Leadership

How can companies grow and prosper while simultaneously preserving their adaptability, creativity, and an entrepreneurial mindset? What are the key elements to build a high-performing company culture? The major in Organization Design and Leadership focuses on issues of organisational design, motivation and leadership that are critical to the creation and transformation of technology-based businesses. Typical entry positions for students after graduation are in business development functions, consulting (in particular regarding change management), development of knowledge work practices, and functions that enable and support the development of human potential.

Operations Management

How do you organize and build operations and systems that are efficient and best contribute to the organisation’s goals and competitive advantage? What kind of strategies, actions, and techniques best support a company to achieve their environmental goals? Operations Management is a wide field with many diverse career paths. Operations manager is one example of a typical position, which may gradually lead to an executive role, such as COO (Chief Operating Officer), in a larger organisation. Because managing operations means prioritising and getting the right things done, it is excellent training for general management duties and it gives capabilities to run a new venture, as well. There are also several fields of specialisation in operations management enabling diverse positions in a variety of organisations from the very beginning of the career. Furthermore, expert positions in consulting, research or educational organisations are possible.

Product and Innovation Management

How do you channel new technologies and innovations into new products? The major in Product and Innovation Management addresses the questions of how innovative operations management can be used to design existing operations to support and execute new products and innovation, and how the product management can be used to orchestrate the development of businesses, especially in new ventures and during rapid growth. The major is targeted especially to those with an interest in exploring opportunities in roles that are close to technology, products, operations and seeking a career trajectory towards Head of Product- or CTO-positions. Such roles can be found in startups, scale-ups and equivalent parts of larger organizations.

Strategy

How do you identify, formulate and implement actionable steps that improve or sustain business performance? The major in Strategy puts particular emphasis on the development of strong analytical and judgment skills. It exposes students to a wide range of critical business situations that call for analysis and the exercise of judgment, and thereby develops a broad and holistic perspective on technology-based businesses. Majoring in Strategy offers students many attractive career options. Common entry positions after graduation include strategy and business development functions in corporations, management consulting, investment banking, founders/CEOs in startups, positions in venture capital and private equity firms or other organisations building and transforming technology-based business. Later in their careers our graduates often work as CEOs, members of top management teams, and investors.

>> To learn more about the IEM studies, see the programme curriculum (into.aalto.fi).

Studies in Industrial Engineering and Management are the best field for high-growth entrepreneurship.

Risto Siilasmaa, Chairman of Nokia, Founder of F-Secure, Alumnus of Aalto IEM

Internationalisation

The programme’s study environment is highly international and studies are conducted in multicultural groups. Students can participate in the international exchange programme at one of Aalto University’s many top-tier partner universities worldwide. Other options to gain international experience are to include a summer course or practical training abroad in the degree.

Apart from the studies, student life among IEM students is very welcoming and active. New students can join the IEM student organisation called Prodeko, which provides different activities, events and other opportunities to balance studies with free-time fun. Prodeko also organises networking events and mentoring by alumni of the programme. They also organize an annual seminar for students, alumni and faculty. For more information on Prodeko, please visit prodeko.org.

In addition to the invaluable support by Prodeko, the programme’s alumni act as mentors for international students, smoothing their integration into the IEM and Aalto communities.

As Prodeko members, students also join the international student organisation ESTIEM that organises events and activities around Europe for IEM students. It comprises over 60 student organisations across the continent and offers not only great networking opportunities but also possibilities to take on responsibility in different leadership positions – already as a student. Fore more information, please visit estiem.org.

Many of our students also participate in Slush, which is a yearly startup event (one of the largest in Europe) that is organized by students. Fore more information, please visit slush.org.

Aalto University is international by nature, welcoming thousands of degree and exchange students from abroad every year. These students join the diverse Aalto community not only through their studies, but also through multiple free time events, celebrations and extracurricular activities around the campus. Active tutoring programs and support services work hard to help international students integrate to the Nordic culture and feel at home in Finland.

Further study opportunities

The programme qualifies for doctoral studies (Doctor of Science in an applicable field). Several graduates of the programme have also launched successful academic careers and are now working at leading European or North American universities.

Career opportunities

Our alumni have taken expert and leadership positions in a number of different types of companies, ranging from start-ups to large multinational management consulting companies, as well as public and non-profit organisations. They have co-founded several startups that include some of the fastest-growing companies in Europe (for example Supercell, Relex), and have been involved in some of the major strategic decisions taken by a number of multinational companies (for example Nokia, Kone, Stora Enso).

Our department’s close collaboration with the industry and an active alumni network helps students build relationships with companies throughout the studies. Companies are involved in many courses, for example through guest lectures or company assignments, which allows students to establish contacts. The majority of students write their master’s thesis for a company, which often leads to employment after graduation. Typically, graduates work in expert, analyst, consulting or project management roles in their first job after graduation (see the description of the majors for more information about typical entry jobs).

Aalto University has well-established career services to support students’ employment in Finland and abroad. Thanks to the flexible curriculum, many Aalto students work already during their studies and guarantee themselves entry positions before graduation. There is also a very active entrepreneurship community at Aalto, working as a springboard for founding a company.

Unto Rautio

School of Science graduates in working life

School of Science Master's graduates are highly successful in finding jobs corresponding to their education. On this page you can find information on job titles, job sectors and career development of our graduates.

School of Science

Research focus

The Department of Industrial Engineering and Management conducts world-class research focusing on the creation and transformation of technology-based business. Examples of current areas of research include:

  • Digital platforms and the platform economy
  • Artificial intelligence (AI) in the corporate strategy process
  • Digital operations management
  • Forecasting in retail management
  • The impact of COVID-19 on global supply chains
  • Leading corporate venturing initiatives
  • Crowdfunding

Research is typically done in close collaboration with companies and the goal is to make an impact on real-life business practices. More information on the relevant research conducted can be found from the website of the Department of Industrial Engineering and Management. To see examples of practitioner publications, please visit the following articles:

Co-operation with other parties

The IEM programme is multidisciplinary in itself. We cooperate closely with national and international companies - ranging from start-ups to multinational enterprises – through e.g. guest lecturers and students solving real-world business problems. The faculty and students are also active in organising events, company visits and mentoring opportunities. The alumni are closely involved with the current generation of students and actively participate in events jointly organised by alumni, students and faculty. In addition, the Department of Industrial Engineering and Management has research cooperations with leading international universities.

Aalto University is well-known for bridging disciplines of business, arts, technology and science. The lively campus brings students from different fields under one roof. This spontaneous multidisciplinary environment sparks new ideas, gathers enthusiasts around them and gives birth to friendships, networks, and every so often, startups.

"I chose IEM because I want to understand the world from different points of view and get to know other easy-going and sharp people. Prodeko has close ties to the business world which can be seen as high-quality studies and excellent networking opportunities."

Programme-specific admission requirements

Industrial Engineering and Management applicants meeting the general eligibility criteria for master's studies are evaluated according to the below Evaluation criteria. The evaluation process is described under Applicant evaluation process. In addition to the obligatory application documents, this study option asks the applicants to submit also the documents listed under Requested documents.

Chat with Aalto students

Are you wondering what it is like to study at Aalto University? Or what student life is like at Aalto’s vibrant Otaniemi Campus or at the Mikkeli Unit? Come chat with our students about all things Aalto!

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Get to know us

Leonidas Karavanas Papadimos

Student testimonial: Leonidas Karavanas Papadimos

Industrial Engineering and Management master's student Leonidas Karavanas Papadimos tells us about his experiences studying at Aalto

Department of Industrial Engineering and Management
Kuva: Unto Rautio

Department of Industrial Engineering and Management

We conduct world-class research and education focusing on the creation and transformation of technology-based business.

Aalto-yliopisto / Prodekon logo

Prodeko (external link)

The Guild of Industrial Engineering and Management Prodeko is the student organisation of IEM students at Aalto.

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Study at Aalto

Do you want to study in the Nordics in Finland? At Aalto University science and art meet technology and business. We believe in the power of curiosity and encourage our students to explore the unknown as well as to learn and do things in a whole new way.

A guy peeks from behind fresh green birch branches. Photo: Aalto University / Unto Rautio

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Finland’s excellent reputation in education, combined with a wide range of courses offered in English, makes Finland and Aalto University an attractive study destination for international students.

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Contact information

Learning Services at Aalto University School of Science

For enquiries regarding the programme-specific application documents or studies in the programme, please contact Learning Services of Aalto University School of Science

[email protected]

Admission Services

For enquiries regarding the application process, obligatory application documents or English language proficiency, please contact Admission Services

[email protected]

The next application period will open 1.12.2022 09:00 (UTC+2)

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