5 Truths and 5 Myths About Studying in Monaco

Studying in Monaco sounds glamorous, doesn’t it? When thinking about the city, you imagine luxury, yachts, and famous people. But there’s more to life in Monaco as a student. Here’s my honest opinion -based on personal experience – on what’s really true and what’s not about studying in this unique country.

1. You’ll Study with People from All Over the World

 That’s a fact! International University of Monaco attracts students from diverse cultural backgrounds. In my finance program alone, I’ve met classmates from every corner of the globe, each bringing their unique perspectives to the table. This diversity makes it great for class discussions and is a big plus for anyone looking to build an international network.

2. Monaco is Just for Tourism—It’s Not a Real ‘Student City

That’s a myth! True, Monaco is world-famous for tourism, but it has much more to offer than just sights. I’ve found that the city has plenty of resources and events for students, from professional expos to cultural festivals. Also, nearby towns in France, like Nice and Cannes, offer a more traditional student vibe just a short train ride away.

3. Luxury is Part of the Culture

That’s a fact! Yes, there’s no denying that Monaco is associated with luxury. I see high-end cars and designer boutiques almost every day. The proximity to luxury, however, extends beyond appearance – it becomes part of your environment, influencing the kinds of internships, job fairs, and networking events you get to attend. 

4. Everyone Here is Super Rich

That’s a myth! While Monaco does attract a wealthy population, not every student at IUM lives like a billionaire. Many students are here on scholarships or come from regular middle-class backgrounds. Living in Monaco may be costly, but students find creative ways to budget and still enjoy life here.

5. Small Community, Big Connections

That’s a fact! IUM is a small university, and Monaco itself is very compact, which fosters a strong sense of community. You quickly get to know most students and even faculty members. This closeness also means you often run into familiar faces outside the classroom, which can lead to valuable connections for internships and career advice.

6. Networking is Only for Luxury Industry Students

That’s a myth! A lot of people think that studying in Monaco means you’ll only network within the luxury or high-end industries. The university attracts a globally diverse student body with varied goals and ambitions, so whether you’re interested in luxury or broader fields, IUM provides opportunities to build a network that supports you in whatever direction you want to go.

7. Strong Academics and High Expectations

That’s a fact! Despite its luxurious surroundings, IUM has demanding academic standards. Attendance and participation are closely monitored, and exams are challenging. The grading system, as I discovered, is different from what I was used to, with no room for make-up exams for exchange students. Missing too many classes could mean repeating the term, so staying on top of things is important.

8. You’ll Spend All Your Time on the Beach

That’s a myth! Although Monaco is right by the sea, it’s not all about sunbathing and relaxing by the sea. My schedule is packed with classes, assignments, and projects, leaving limited beach time. Even in this gorgeous setting, being a student means there’s still work to be done, so beach days are more of a weekend treat than a daily habit.

9. The Social Scene is Unique

That’s a fact! Social life in Monaco doesn’t necessarily revolve around the typical college meetings. Instead, you might attend professional networking events, art exhibitions, or formal dinners. For example, recently, IUM hosted dinner with the Princess of Monaco! This setting offers a new dimension to socializing that’s more oriented toward future career development than typical campus life. 

10. Everything is Extremely Formal

That’s a myth! While Monaco is known for its elegance, not every interaction or event here is ultra-formal. IUM students dress casually for classes and social gatherings are typically relaxed. Formality comes into play at networking events, but on an average day, things are pretty laid-back.