No GMAT, no GRE, and no school-run entrance test — but do not read that as no hurdle, because ISEG publishes the thing that replaces it. Neither the programme page nor ISEG's master's applications page names an admissions test anywhere; both were read in full on 2026-09-11 and both carry strings only the real pages would (the fee table on one, the phase table on the other), so this is a scoped negative rather than a failed fetch.¹ ³ What sits in the test's place is a published, weighted 20-point SCORE, which is rarer in this catalogue than the absence of a test: 'Applications for the MIM program will be assessed based on a calculated SCORE using the following criteria, with a maximum of 20 points achievable' — Academic Performance (Weight: 50%; max 10 points), Institution and Degree (Weight: 20%; max 4 points), Alignment with MIM Objectives (Weight: 15%; max 3 points) and Personal Motivation (Weight: 15%: max 3 points).¹ Read what that actually says. Half the decision is your transcript, with no published minimum to clear — so there is no bar to fail and no bar to relax. A fifth of it is where you studied, scored 'in accordance with international and/or national rankings', which is an unusually frank statement of something most schools do silently. And the two soft criteria are worth six points between them: alignment, which reads previous field, quantitative background and any experience against the programme's objectives, and motivation, judged 'through interviews and/or Motivation Letters'. Interviews are discretionary — 'In some cases, the Masters Coordinating Team may conduct interviews with applicants as deemed necessary' — so treat the letter as the thing you control. The subject gate is the other real condition. ISEG asks for a first degree 'in Management, Economics, Finance, Accounting, Mathematics Applied to Economics and Management or other relevant to the study cycle', with 'Applicants with other degrees are considered on a case-by-case basis'.¹ That is more open than a hard subject bar and narrower than a conversion degree. Finalists may apply conditionally, provided they 'satisfy the conditions for obtaining the degree by the end of September'. English evidence is optional, and the exemption is by language community rather than by country — the full rule is in the programme body. Wider context: MiM in Europe without the GMAT, GMAT vs GRE and the no-GMAT hub.
Not required, and no admissions test of any kind appears on ISEG's programme page or on its master's applications page. What stands in its place is published and weighted: a 20-point SCORE built from Academic Performance (50%, max 10 points), Institution and Degree (20%, max 4), Alignment with MIM Objectives (15%, max 3) and Personal Motivation (15%, max 3), with 'In some cases, the Masters Coordinating Team may conduct interviews with applicants as deemed necessary'
| Test policy | Not required, and no admissions test of any kind appears on ISEG's programme page or on its master's applications page. What stands in its place is published and weighted: a 20-point SCORE built from Academic Performance (50%, max 10 points), Institution and Degree (20%, max 4), Alignment with MIM Objectives (15%, max 3) and Personal Motivation (15%, max 3), with 'In some cases, the Masters Coordinating Team may conduct interviews with applicants as deemed necessary' |
|---|---|
| GPA | No minimum grade is published, and there is no percentage bar. What the school publishes instead is the weight: Academic Performance is 50% of a 20-point admission SCORE, assessed on 'the highest academic degree attained or, for students without a degree, the average grade of completed course units to date' — so the transcript is half the decision without a stated floor. A second 20% scores 'the university and school(s) awarding the mentioned degree(s) in accordance with international and/or national rankings' |
| Work experience | None required, and the school states the target rather than a bar: 'MIM is designed for pre-experience candidates, typically under 26 years old, who have little to no full-time professional experience. Most students enter the program with fewer than four years of work experience, and cohorts are predominantly aged between 22 and 24.' Professional experience is not scored on its own — it appears only inside the 15% 'Alignment with MIM Objectives' criterion |
| MiMs we track admitting without a required GMAT/GRE | 75 of 118 |
A GMAT or GRE is not required to apply to the ISEG Lisbon School of Economics and Management MiM — it is one of the 75 of 118 Master's in Management we track (about 64%) that admit without a required test. See every European MiM you can apply to without a GMAT on our MiM without the GMAT shortlist, or read how GMAT waivers work.
Most European MiM programs, including this one, accept the GRE and often the GMAT Focus Edition or a school-specific test as alternatives, and weigh the whole application — academics, internships, essays, and interview — rather than the score alone.
Frequently asked questions
Does the ISEG Master's in Management require the GMAT?
No. Neither ISEG's programme page nor its master's applications page names the GMAT, the GRE or any school-run entrance test, and both were read in full on 2026-09-11. What replaces the test is published and weighted: admission is decided on a 20-point score made up of Academic Performance (50%, max 10 points), Institution and Degree (20%, max 4), Alignment with MIM Objectives (15%, max 3) and Personal Motivation (15%, max 3). ISEG adds that 'In some cases, the Masters Coordinating Team may conduct interviews with applicants as deemed necessary.' So there is no test to sit, but half of the decision is your transcript and a fifth of it is the standing of the university that awarded it.
Sources
- ISEG Lisbon School of Economics and Management — Master's in Management (MiM), the programme's own page, read 2026-09-11 with a browser-UA curl (HTTP 200, 25 KB; the page carries the fee table and the SCORE criteria, neither of which appears on any sibling page, so the fetch is scoped to the right URL). Verbatim: 'Duration 3 semesters', 'Taught in English', 'Numerus Clausus 90', 'ISEG introduced the MiM in 2020'. Structure: 'The study program is spread across 3 semesters, with a total of 90 ECTS, of which 30 ECTS (the 3rd semester) correspond to a final work (dissertation, project or internship report)' and 'All mandatory course units will be taught in English. Core courses and electives are daytime classes.' Majors: 'Choose your Major*: - Strategic & Marketing Management - Financial & Operations Management - Business Data Analytics', with '*You choose one major. For each major, there will be six (6) compulsory courses, taught entirely in English and distributed in two blocks.' Final work: 'MiM Final Work - Path 1: Corporate Internship Project - Path 2: NGO Internship Project - Path 3: Experimental Research Project - Path 4: Entrepreneurship Project - Path 5: Consulting / Business Case Project - Path 6: ISEG ULisboa Project 30'. Admission: 'The Masters in Management targets students with a first degree of higher education in a national or foreign institution in Management, Economics, Finance, Accounting, Mathematics Applied to Economics and Management or other relevant to the study cycle. Applicants with other degrees are considered on a case-by-case basis.'; 'Those students who have not yet completed the 1st Study Cycle (Bachelors) are eligible to apply conditionally, provided that they satisfy the conditions for obtaining the degree by the end of September (of the same academic year as their application).'; 'MIM is designed for pre-experience candidates, typically under 26 years old, who have little to no full-time professional experience. Most students enter the program with fewer than four years of work experience, and cohorts are predominantly aged between 22 and 24.'; 'All candidates should have an excellent command of the English language, written and spoken.' Selection: 'Applications for the MIM program will be assessed based on a calculated SCORE using the following criteria, with a maximum of 20 points achievable' — 'Academic Performance (Weight: 50%; max 10 points) Evaluation based on the highest academic degree attained or, for students without a degree, the average grade of completed course units to date.', 'Institution and Degree (Weight: 20%; max 4 points) Assessment of the university and school(s) awarding the mentioned degree(s) in accordance with international and/or national rankings.', 'Alignment with MIM Objectives (Weight: 15%; max 3 points)', 'Personal Motivation (Weight: 15%: max 3 points) General evaluation of candidate motivation through interviews and/or Motivation Letters.', 'In some cases, the Masters Coordinating Team may conduct interviews with applicants as deemed necessary.' Application documents: 'Certificate of the undergraduate degree', 'Academic Transcript', 'curriculum vitae', 'Motivation Letter', 'English Diploma (optional)', 'Reference Letter (optional)'. Fees: 'These are provisional tuition fees for 2026/2027, subject to confirmation by the University of Lisbon statutory bodies.' and the table 'Students from First Year second year Total / Within the European Union EUR 5,800 EUR 2,000 EUR 7,800 / Outside the European Union EUR 7,500 EUR 3,500 EUR 11,000'. Recognition: 'Ranked 23rd in the Eduniversal Best Masters Ranking in General Management TOP 60 in Western Europe 2025' and 'The 2026 Financial Times Masters in Management Ranking places MiM in 59th place among the world's best'. Accreditation: 'accredited by the Agency for Assessment and Accreditation of Higher Education (A3ES)'. Double degree with EM Normandie: 'To obtain both EM's and ISEG's Master's degrees, your full first year of graduate studies (60 ECTS) will be completed at ISEG and your remaining graduate studies (60 ECTS) will be completed at EM', 'To be admitted to this partner university, you need one of these official scores in English: IELTS 6.0, TOEIC 790 or TOEFL 83. You must have an academic average of 14/20, from the 1st semester of the 1st academic year, of the MiM.', and its own fee table 'Within the European Union EUR 5,800 EUR 7,800 EUR 2,000 EUR 15,600 / Outside the European Union EUR 7,300 EUR 7,800 EUR 2,500 EUR 17,600'. NEGATIVE RECORDED 2026-09-11: the words GMAT and GRE do not appear anywhere on this page, and no admissions test of any kind is named. NO absolute salary figure, NO enrolled class size (only the numerus clausus cap) and NO application deadline appears on this page ↗ — ISEG Lisbon School of Economics and Management
- ISEG — 'ISEG's Master's in Management Makes Its Debut in the Financial Times Ranking', the school's own news item dated 07-09-2026, read 2026-09-11. Verbatim: 'The Masters in Management (MiM) of ISEG - Lisbon School of Economics & Management enters, for the first time, the ranking Masters in Management from the Financial Times, directly reaching the 59th in the world.'; 'it is one of the leading international rankings of master's programs in management, which, in this edition, ranks 100 programs from schools in different regions of the world'; 'One of the most notable achievements of ISEG's Master's in Management program is its 8th place worldwide ranking in the career progression indicator. This indicator assesses graduates' progress in terms of professional responsibility and the size of the organizations where they work, comparing their current situation with the career path they have followed since completing the master's program.' The listed results: 'Employability: 100% of the graduates were employed within three months of completing the program, with a response rate of 96%'; 'Salary progression: an average increase of 48% compared to the salary earned upon completion of the master's degree'; 'Value for money: 31st in the world'; 'ESG Education and Carbon Neutrality: 17th in the world'; 'The School's Carbon Footprint: 16th in the world'; 'Internationalization: 73% of the program's students are international'; 'Overall satisfaction: a rating of 8.88 on a scale of 0 to 10.' Also 'The inclusion of the Master's in Management complements the ranking of ISEG's Master's in Finance, which, in 2026, ranked 33rd worldwide among the 70 programs evaluated' and 'The 2026 edition of the ranking Masters in Management It includes five Portuguese schools'. Dean quoted: 'Mario Caldeira, Dean of ISEG'. BOUNDARY STATED 2026-09-11: every FT figure on this profile is ISEG's own statement of its FT result. The Financial Times table itself was not read — it sits behind a paywall this site does not cross — so no figure here is attributed to the FT directly. NO absolute salary is given in the article; the 48% is a change, not a level. The article's own text contains one oddity left unquoted in the profile: it writes 'the CWUR ranking Masters in Management from the Financial Times', apparently a translation artefact, since CWUR and the FT are different publishers ↗ — ISEG Lisbon School of Economics and Management
- ISEG Academic Services — 'Master's degree applications', read 2026-09-11 (HTTP 200, 13 KB; carries the per-programme phase table, which appears on no other ISEG page). Verbatim: 'Applications for Master's degrees are made exclusively online through the ISEG website'; 'The application fee is 50 euros per course.'; 'Application Calendar 2026/2027: Phases Applications Ranking* Registration / 1st phase December 2nd to February 2nd until February 16th 10 days in a row after approval of candidacy / 2nd phase February 3rd to 31st March until April 13th 10 days in a row after approval of candidacy / 3rd phase 1st April to May 18th until June 1st 10 days in a row after approval of candidacy / 4th phase** June 2nd to 22nd until July 1st 5 days in a row after approval of candidacy'; 'Applications that have not been accepted or rejected may be carried over to the next phase, provided there are available spots stipulated by the respective coordination for each phase and as long as they meet the required conditions. In the 4th phase, carry-over does not apply, as it will be the final application phase.' The per-programme table under 'Masters in English' reads '1st PHASE 2nd phase 3RD PHASE 4th phase' with 'Management Here Here Here N/A' — and the same 'N/A' in the fourth column for Actuarial Science, Finance, Industrial Management, Operations and Sustainability, and Mathematical Finance, against 'Here' in all four columns for Accounting, Applied Econometrics and Forecasting, Data Analytics for Business, Economics, Innovation and Research for Sustainability, Management Information Systems and Monetary and Financial Economics. Visa advice: 'International students (from outside Europe) are not recommended to apply in the 3rd phase due to the time it takes to obtain a visa.' English evidence: 'Certificate of knowledge of English or Portuguese (Minimum level: B2, TOEFL 70, IELTS 6.5) for applicants to courses taught in English or Portuguese (except national, Palop and Brazilian applicants).' with the footnote 'This document is not compulsory, but it is the applicant's responsibility to have a minimum knowledge of the language in which the course is taught (minimum level B2), except for the master's degree in International Development and Cooperation'. Registration: 'Payment of the first installment (700.00EUR for students within the EU and 1400.00EUR for students outside the EU) is made at the registration (deductible from the total amount of the 1st Year). This payment guarantees occupancy of the place and must be paid in full by the deadline.' and 'Withdrawal from registration does not exempt you from the payment referred to in the previous point, unless communicated by the deadline for payment.' Also 'Graduating students must complete their degree by the end of September (of the academic year in which they are applying)'; 'If you are accepted onto the Master's program, you will have until October 15th to send in your certificate'; 'Note: For GDPR reasons, after publication, notices are only available for a period of 3 months.' STALENESS RECORDED 2026-09-11: the same page still instructs that original international diplomas must be presented 'no later than 15/10/2024', and the calendar it displays is labelled 2026/2027 — the cycle that fed the September 2026 intake. No 2027/2028 calendar was posted on the day this was read, which is why this profile publishes no dated rounds ↗ — ISEG Lisbon School of Economics and Management
- ISEG — 'Scholarships & Awards', read 2026-09-11, to establish what an incoming international master's applicant can actually apply for. FINDING: almost nothing. The merit scholarships are bachelor-scoped — 'Fundacao Economicas' awards 'Scholarships for the 10 students with the best ISEG application grade' to 'the best students entering ISEG's degree courses'; 'Santander Futuro Merit Scholarships' and 'ISEG Merit Scholarships by Career Partners' are both 'awarded to 1st Year Bachelors students in Economics, Management, and Finance, with an average grade of 17.5 or more, who chose ISEG as their first option'. The largest award is nationality-scoped: 'Luis Patrao Scholarships — Turismo de Portugal awards 10 scholarships to students about to start an ISEG postgraduate, Masters, or MBA. The overall budget for these grants is EUR 500,000. This programme is for Portuguese students up to the age of 35 who graduated with an average grade of 14 or above. As well as subsidising tuition fees, these scholarships cover the cost of living, in Portugal or abroad, up to a maximum of EUR 60,000 per student.' Several EY awards read 'Best Portuguese student'. The tuition-covering prize that names this programme is alumni-scoped: 'Otelinda and Carlos Silveira Merit Scholarship — This prize corresponds to the value of the tuition fees for the best students who studied for their Bachelors at ISEG and went on to study for a Masters at ISEG: > Scholarship for the best student of the ISEG Masters in Management.' The one MiM-naming award with neither a nationality nor an alumni condition is 'Explorer Investments — Award of a merit prize to a 1st year student of ISEG's Masters in Finance, Economics, Monetary and Financial Economics and Management (MiM), who demonstrates special characteristics of initiative, motivation and commitment, in the 2025/2026 academic year.' NEGATIVE RECORDED 2026-09-11: no entry scholarship for an incoming international master's student appears anywhere on this page. State-side support is signposted only as 'UL Social Action Services (SAS)' reimbursement, which this profile did not follow through to its eligibility rules and therefore does not describe ↗ — ISEG Lisbon School of Economics and Management
- ISEG — 'About' and 'History', both read 2026-09-11, for the school-level claims on this profile. Verbatim: 'Officially founded in 1911, ISEG's history goes back to the Aula do Comercio (Commerce Class), created in 1759, by order of the Marquis of Pombal'; 'ISEG is the first Portuguese economics and management school and part of the biggest and more acknowledged university in the country, the Universidade de Lisboa'; 'ISEG is part of Universidade de Lisboa, the largest and most prestigious university in Portugal and one of Europe's leading universities, with a community of over 50,000 students'; 'More than a century leading education in economics and management in Portugal'; 'In the top 1% of the best economics and management schools worldwide with EQUIS, AACS and AMBA accreditations' (the 'AACS' spelling is ISEG's own; the site-wide footer block on every page reads 'World Ranked Triple Accredited:' above EQUIS, AACSB and AMBA logos with the alt text 'Equis Accredited', 'AACSB Accredited', 'AMBA Accredited'). This profile therefore attributes the triple-crown claim to ISEG's own site rather than to the three accrediting bodies' registers, which were not read ↗ — ISEG Lisbon School of Economics and Management
- Poets&Quants — 'Financial Times Master in Management Ranking: St. Gallen Captures Its 15th No. 1', read 2026-09-11. Used for ONE purpose: to corroborate, from a publisher other than the school itself, that the Financial Times Masters in Management 2026 edition exists and when it landed — because a profile that rests an edition claim on the announcement of the one school it flatters is exactly the single-source failure this catalogue keeps auditing out. Verbatim: 'The top spot in the 2026 ranking, released today (September 7)'; St Gallen 1st (1st in 2025), 'Nova School of Business and Economics' 2nd (4th in 2025), 'Shanghai Jiao Tong University: Antai' 3rd (6th in 2025); 'The FT also groups the 100 ranked programs into four tiers based on their composite scores.' ISEG's own 59th placement is NOT corroborated here — this source was not read for ISEG's position, only for the edition and its date. CORPUS CONSEQUENCE RECORDED 2026-09-11: this catalogue's FT positions are keyed to the 2025 edition (226 occurrences of 'Financial Times Masters in Management 2025' across 167 files, and 60 profiles carrying rankingFT), and Nova SBE's recorded 4th is the 2025 position against a 2026 position of 2nd. Nothing was re-keyed in this change — the re-key is filed as its own queue item, because it needs the FT table rather than a secondary report of its top three ↗ — Poets&Quants