ISM University of Management and Economics

ISM University of Management and Economics is a private, English-friendly business school in Vilnius offering tuition-based bachelor's and master's degrees in management, economics and finance. Because it is private, there are no state-funded places — everyone pays tuition — but it is well-regarded internationally and holds AACSB accreditation.

ISM at a glance

• Type: private (tuition-based) university — no state-funded ("free") places.
• Founded: 1999, originally in Kaunas; now based in central Vilnius on Gedimino Avenue. Its founders include BI Norwegian Business School.
• Focus: business, management, economics and finance only — it is a specialist school, not a broad multi-faculty university.
• Language: most international programmes are taught in English (check each programme).
• Accreditation: an accredited Lithuanian higher education institution; also holds AACSB international business-school accreditation, the first university in the Baltics to do so.
• International mix: a notably international student body and a large share of visiting faculty, with exchange links to 100+ partner universities.

Bachelor's programmes

ISM's bachelor's degrees run for three years (most include an additional six-month bachelor thesis period, totalling 210 ECTS; some are 180 ECTS over three years). Programmes seen in the current catalogue include:

Some bachelor's students can pursue a double degree with partner schools abroad (ISM has named partners including BI Norwegian Business School, KEDGE Business School in France and the Illinois Institute of Technology in the USA). Check the current double-degree options on the programme pages.

Master's programmes

Master's degrees are typically 1–1.5 years of coursework plus a thesis (90–120 ECTS). Programmes seen in the current catalogue include:

• International Marketing and Management (Master of Business Management, 120 ECTS)
• Financial Economics (Master of Social Sciences, 120 ECTS)
• Global Leadership and Strategy (Master of Business Management, 90 ECTS)
• Innovation and Technology Management (Master of Business Management, 90 ECTS)

ISM also runs an Executive School with an Executive MBA and Master of Management aimed at working professionals — these are separate from the standard master's track.

Tuition and what "private" means for your budget

ISM is tuition-based and more expensive than Lithuania's public universities, and it generally does not give EU students a lower rate than non-EU students — everyone pays the programme fee. That is the main trade-off versus a public university like VU or KTU, where you may compete for cheaper or state-funded places.

• Tuition is charged per year (or per semester) and varies by programme and level.
• Figures published by third-party aggregators are often out of date or simplified — the official price list and admission pages are the only reliable source.
• Budget separately for living costs on top of tuition; a realistic monthly baseline is €350–€700unverified.

Scholarships and discounts

ISM runs a range of merit and need-based scholarships and tuition discounts rather than full state funding. The exact names, percentages and eligibility change, but recent cycles have included:

• merit/achievement scholarships and an "ISM scholarship" covering up to ~50% of tuition;
• a Baltic Talent scholarship (a large discount for Latvian and Estonian students);
• solidarity discounts for applicants from Ukraine and Georgia;
• family and partner-company discounts;
• for some non-EU master's applicants, the separate Lithuanian state scholarships administered nationally (not by ISM) may apply.

Verify which scholarships exist for your intake, and the percentages, on the ISM financing page — and apply for them within the admission process, not after.

Admissions for international students

Admission is online and broadly the same shape for bachelor's and master's: submit an application with your transcripts/diploma, English-language proof and a motivation letter, then sit an online motivational interview (and a scholarship test if eligible).

English-language requirements (recent cycle, confirm current minimums on the admission page):

• Bachelor's: e.g. IELTS 6.0, TOEFL iBT 60, Cambridge B2, PTE 52, Duolingo 115 — or an ISM English test.
• Master's: e.g. IELTS 6.5 (no sub-score below 6.0), TOEFL iBT 79, Cambridge with a higher threshold, PTE 59, Duolingo 125 — or an ISM English test.

Recognition: what an ISM degree does and does not get you

ISM is an accredited Lithuanian higher education institution following the European (Bologna) framework, so its bachelor's and master's diplomas are recognised across the EU, and its AACSB business accreditation is a respected international quality mark for management schools.

That recognition is academic. It is separate from any professional licensing:

• A Lithuanian degree is EU-recognised, but practising a regulated profession in another country usually requires that country's own registration or exams — this matters more for fields like law than for ISM's business and economics focus, but the principle is the same.
• For formal recognition of your foreign qualification (for admission or employment), the Lithuanian authority is SKVC; for recognition abroad, check the relevant country's national centre.

Living in Vilnius as an ISM student

ISM sits in central Vilnius, so you are close to the city's housing, transport and services rather than on an out-of-town campus.

• Accommodation: ISM does not run large dormitories like some public universities; it helps students find housing and you typically sign a contract directly with a landlord or private student residence. Use the university's accommodation support ([email protected]) and our where students live in Vilnius and find a flat without scams guides.
• Cost of living: plan around €350–€700unverified a month on top of tuition. Vilnius is pricier than Kaunas but still well below Western Europe.
• Non-EU students will also need a national visa and a temporary residence permit and must show proof of funds — see ≈ €8,071unverified and confirm requirements on migracija.lrv.lt.