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2016-2017 EDITION

GUIDE

Global Publication for MBA & EMBA Students

The “M to A” of MBA Riding the Cyber Wave Europreneurship

The Canadian Dream The 10 Best Ways to Prepare for the GMAT My Cosmic Journey Through the MBA

EDITORIAL

Out with the Old, in with the New Managers should lead from the front

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ith a multitude of crises – financial, social and political – gripping the world, now, more than ever, leaders have to cope with change. And it is my belief that leadership is about managing change. Be it to stay on course or change direction, it’s about steering the ship on the path that you deem right. The MBA degree teaches leadership because it understands that management alone is simply not enough. What good is a decent manager if they can’t be a great leader? Long gone are the days of the assembly line supervisor who meets production quotas with intimidation and the fear of unemployment. We now live in an age of information and intellectual labour, and we need leaders who can lead from the front, rather than the throne. At the 2015 World Economic Forum, Jack Ma, the founder of Alibaba, said his job was to make his team happy, “Because

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if my team is happy, they can make my customers happy”. The year before, his company had generated 14.3 billion USD in gross merchandise volume in one day. In 2016, Alibaba is claiming 15.69 billion USD in revenue, and Ma said that he wants Alibaba to become equal to the world’s fifth-richest country by 2020. But if Jack Ma believes in leading his company to unprecedented financial success, I would argue that leadership is also about ideas. Elon Musk wants to terraform Mars and to establish a permanent colony for mankind there. He is worth 12.7 billion USD, and yet his salary at Tesla Motors is 1 dollar. Why? Because he understands that your dreams and your vision are worth more than “gold”. However, there is something intricately similar between these two different leaders. They both understand that in order to “manage change” successfully, they have to empower others. And that’s

what leadership truly is: a path of constant change management that is impossible without teamwork, because leaders are defined by those who follow them. Spartacus would have been just another slave in the Roman quarries if it hadn’t been for the thousands of other slaves who followed him into his rebellion. Jack Ma would have been a ten-times Harvard rejectee and Elon Musk would have been a marginal engineer. And yet, they are not, because they have empowered others on their path to coping with change. The MBA can teach such knowledge, not least because it is one of the very few pillars of wisdom that rise above the trivial to teach that leadership is more important than management.

Christophe Coutat Founder and CEO Advent Group

[email protected]

T able o f C ontent S

Guide

MBA Overview

Ten Essential Things You Should Know About the MBA

Enterprising Volatility Of Wealth and Men

“May I Have the Bill Please?” A Marriage Made in Heaven MBA Selection The “M to A” of MBA Stripes of Fame Apples and Oranges (OP-ED) For Inquisitive Managers Only Riding the Cyber Wave Two Sides of the Same Grit The Canadian Dream The British Legacy The Asian Giant MBA Spotlight From Bogota to L.A. Hippocratic Business Transatlantic Origins: History of the European MBA Terra Scandinavia MBA Teaching What the MBA Taught me About Leadership (OP-ED) #Europreneurship No Time for Full-Time MBA Admission GRE or GMAT? The 10 Best Ways to Prepare for the GMAT What do B-schools Want to Know About You?

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“Highly Recommended” Acing the MBA Interview MBA Careers Old-Timers & Golden Classics Start Your Engines! My Cosmic Journey Through the MBA Global MBA Features School Profiles & Interviews MBA Listings Tables of Top Full-time MBA Programmes

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EMBA Guide EMBA Overview Kings and Queens Fortune Favours the Prepared EMBA Format Switching Gears with a GEMBA EMBA Admission A Friend in Need is a Friend Indeed Executive Examination EMBA Careers “It’s All About Confidence” Global EMBA Features School Profiles & Interviews EMBA Listing Tables of Top EMBA Programmes

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Chief Editor: Christophe Coutat Editor: Anton Zhelev Concept: Advent Group Graphic Design: Mariya Stankova Graphic Design Assistant: Anastasia Zhivaeva Writers: Anton Zhelev Dimitar Ganev Elitsa Videnova Evelina Ivanova Iliana Bobova Iva Doneva- Sirakova Proofreading: Parisofia

Disclaimer: Advent Group accept no legal responsibility for the accuracy or otherwise of individual submissions. The editorial team has endeavoured to ensure that all contributions are correct at the time of publication. Copyright 2016-2017 The content of this publication is protected by copyright. All rights reserved. No part of this publication may be copied or reproduced, in any form or by any means, without the prior consent of the publisher.

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Acquaint yourself with the most important facts about the MBA

MBA OVERVIEW

Ten Essential Things You Should Know About the MBA

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hat’s the first thing that comes to mind when hearing “MBA”? The image of a smiling CEO from the front cover of Forbes magazine? A world financial centre with skyscrapers and bustling whitecollar workers speaking on their IPhones? Harvard? The saying that an MBA diploma is the most expensive piece of paper? Indeed, all these are true. But is it only this? What is an MBA all about?

1. What is an MBA?

An MBA or “Master in Business Administration” is an internationally recognised degree designed to develop skills required for careers in business and management. The degree is widely considered as a must for those targeting top C-level management posts. An MBA opens the doors to vast alumni networks, top-tier internships and the very best jobs. Or, it could be the trigger needed by those striving for their own business venture. The degree originated in the United States in the early 20th century when the country industrialised and companies sought scientific approaches to management. Half a century later, the first MBA programme emerged on the Old Continent and over the past decade MBA programmes have become very popular in the Middle East and Asia. Now the number of MBA programmes is growing constantly. In February 2016, the number of accredited business schools, according to the oldest accreditation agency, the US-based Association to Advance Collegiate Schools of Business (AACSB) International, had reached 755 in 51 countries and territories worldwide. In September 2015, 73 business schools around the world, of which 68.2% were from Europe, held the triple “crown” accreditation from the most sought after international accreditations: AACSB, AMBA and EQUIS. Currently the number of member campuses, according to the US-based accreditation agency Accreditation Council for Business School & Programs (ACSBP,) is 1,220, two hundred thirty-three of which

are located outside the US. Of those campuses, 962 have achieved accreditation and 160 are in candidacy for accreditation.

2. General management

All in all, an MBA is about general management. The degree is a Master’s degree in business management theory and practice. It is a broad study of all the main aspects of management. The curriculum comprises courses in core studies such as accounting, finance, marketing, human resources, general management, operations, strategy, leadership and negotiations and elective courses that build on the fundamentals, allowing students to deepen their knowledge and skills in areas relevant to their personal career goals and ambitions. “After doing four years of technology consulting … I started getting interested more and more in strategic business questions that I could touch a little bit but not really dive deep into. I found that doing an MBA was the best way for me to get that learning, to get those skills that I needed. The two-year programme worked better for me for several reasons. The first one is having an engineering background, I needed to learn the core - the core of marketing, of finance, of strategy […] I also wanted to explore different careers,” says Otman El Manser, who studied the two-year full-time MBA of Kellogg School of Management.

“An MBA opens the doors to vast alumni networks, top-tier internships and the very best jobs. Or, it could be the trigger needed by those striving for their own business venture.“

3. Specialised MBAs

Specialised MBA programmes have been gaining popularity in recent years. Unlike general MBAs or non-specialised programmes, specialised MBAs offer special knowledge in one particular area, enabling attendees to deepen their expertise in a particular business area or a branch of the science. The specialised MBA programme is an MBA with focus on a particular business area such as real estate, marketing, supply chain management, healthcare, investment management, etc. These programmes prepare competent, ready-for-the-job professionals with knowledge and skills tailored to the needs of a particular industry. “The specialised programme is great, as long as everyone is clear what the career ACCESS MBA GUIDE 2016-2017

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trajectory is,” says consultant and coach Jackie Wilbur, a former director of career development at MIT’s Sloan School.

4. Hard skills vs. Soft skills

An MBA is the only course that provides the perfect balance in teaching both hard and soft skills. “There are three key differences between hard and soft skills”, notes Lei Han, a Wharton MBA with 15+ years’ of business experience, in her article “Hard skills vs. soft skills – difference and importance”. The first is about where you can learn those skills – hard skills can be learned in school and from books, whilst there is no simple path to learning soft skills as most soft skills are not taught well in school and have to be learned on the job by trial and error. To be good at hard skills usually takes “smarts” or IQ, also known as your left brain or the logical centre. To be good at soft skills usually takes emotional intelligence or EI, also known as your right brain or the emotional centre. The third difference is that hard skills are skills where the rules stay the same, regardless of which company, circumstances or people you work with. In contrast, soft skills are skills where the rules change depending on the company culture and the people you work with.

5. Format

The original MBA format is a two-year course, including summer internship between years one and two. However, in recent years, business schools have started to adapt their programmes to the needs of changing economic realities requiring faster learning. Schools have started delivering MBAs in shorter, 12 to 18 month, courses. Part-time programmes have become particularly preferred for those who don’t have the luxury to dedicate 100% of their time and attend a full-time course. More flexible formats like online, modular and blended MBAs have also emerged making the choice of which format to select easier, allowing attendees to pick the format best fitting to their personal needs, career stage, needs and goals. In the US, where the MBA originated, the two-year format is more common, while in Europe and Asia shorter MBAs are more popular.

6. Networking

A key asset of each MBA programme is the network opportunities it opens up to its students. MBA classes attract students from diverse nationalities with a wide variety of interests ranging from

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general management to doing business in sectors like food and beverage, defence, healthcare, etc. There is no other place where so many different personalities can meet and build a multicultural environment together. B-schools, students and alumni are dedicated to building vast networks where people from different places on Earth can meet, share their ideas, opinions, goals and even raise funds for their ventures. “My experience was further enhanced by my daily interactions with international classmates from all over the world. […] All the best memories are from activities done with my colourful classmates like the tough group projects, the adventurous trips around the region and the fun events organised in school. Although we had many differences, the bonds and friendship we had built in this MBA journey will last me a lifetime,” says Masana Takahashi, MBA from the National University of Singapore. Using social networks such as Facebook, Twitter, LinkedIn or b-schools’ own platforms is the easiest way students and alumni can build their own network. Schools’ career services are particularly active in organising various type of networking events such as corporate visits, one-day fairs on campus, conferences, etc. mediating the link between first-year and second-year students, alumni and potential employers. Alumni are also highly

committed to developing vast networks through different alumni events where students can be introduced, through professors, events, alumni speakers and the school’s career services. Alumni networks are promoted as catalysts for career opportunities. Alumni often act as role models, mentoring and supporting would-be MBAs in their career adventure. “Our mission is to promote an everlasting relationship among the members of the IE community, facilitating a common platform of business, career development and lifelong learning opportunities, with the objective of propelling personal and professional development of IE students and alumni, in accordance with the principles and values of IE,” IE Business School says.

7. Careers – corporate vs. entrepreneurial

An MBA is widely considered as a career accelerator. It could help you, climb the corporate ladder within your current organisation or open doors to a new corporation and develop your career. It could bring you higher pay, a higher post and certainly more responsibilities as a professional. Or, it could be the trigger you need to start a journey of your own, starting up your own business. An MBA is invaluable for those who embark on their own adventures, mainly due to the skills it teaches to its students - strategic planning,

global thinking, leadership and the ability to manage people. Figures speak best. According to the latest available statistics, which Financial Times (FT) released as part of its research for its 2015 rankings, 22% of 7,800 MBA graduates from the world’s top 100 business schools had launched a start-up while studying for the qualification or shortly after completing their course. Three years after graduation, the average annual income among these fledgling entrepreneurs was 134,000 USD, compared with 132,000 USD for all those interviewed for the research. “…those that quit corporate careers to create a start-up quickly make up any shortfall and are in fact earning more on average than their salaried peers just three years after completing their business school studies,” reads The Financial Times article “Start-up costs for MBA graduates pay off”. A study of over 30,000 Wharton graduates shows that the number of recent MBA grads who choose their own business adventure rather than going to traditional corporate jobs in finance and management will continue growing,. “MBA students are good at seeking where the opportunities are. […] When banking is hot, more students go into banking; when consulting is hot, they go into consulting; and when entrepreneurship is hot, they go into entrepreneurship,” says

Ethan Mollick, entrepreneurship professor at Wharton and co-author of the study, as quoted by Business Insider.

8. Post MBA-salaries

High pay is certainly one of the biggest benefits one gains getting an MBA. The statement that getting an MBA degree is a long-term investment which pays off each cent is true. Starting salaries for MBA degree holders are so high, compared to those of other graduates, that sometimes there is no sense in comparing them. And there is even better news – salaries for MBAs continue rising years after graduation. Figures from FT’s Global MBA Ranking 2016 show that the lowest weighted salary of an MBA holder from the top 10 b-schools in the ranking, three years after graduation, is 154,150 USD, which is a 100% increase when compared to salaries before taking an MBA. The single highest weighted salary is 185,939 USD, which is an 87% rise. The median starting salary expected in 2015 for recent MBA graduates in the United States was 100,000 USD, according to the last 2015 Corporate Recruiters Survey from the General Management Admission Council (GMAC). This represents an increase of 5,000 USD over 2014 salaries and is nearly double the expected starting salary of 55,000 USD for Bachelor

candidates in 2015. Globally, more than half of employers planned to increase starting salaries for new MBA hires in 2015, either at the rate of inflation or higher.

9. Job market prospects

Most MBAs have no trouble landing jobs. Three months after graduating, more than 80% of MBAs usually find a job. Surveys show that in 2016, as with previous years, the job prospects for MBA graduates will continue the upward trend. Coming off of a solid year of hiring in 2015, employer demand for graduate management talent is projected to increase in 2016. According to the 2015 year end poll of employers, by the General Management Admission Council (GMAC), three in four employers expect to hire MBA graduates in 2016, up four percent from 2015 actual hiring results. Of this group of employers, 85% plan to hire as many or more of these candidates than they did in 2015. Regional analysis reveals that employers located in the United States are more likely to hire MBA graduates (82% of companies) compared with employers located in Europe (63% of companies). “When employers see a candidate with an MBA, they assume that person has been trained to think critically about business in a financial context, as well as having been trained to solve business problems, ACCESS MBA GUIDE 2016-2017

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and in business, that’s an advantage,” says Tracy Cote, senior vice president of human resources with US-based OmniChannel customer experience and Contact Centre Solutions provider Genesys.

tuition fees can reach as much as 100,000 USD. Of course, there are many schools that charge considerably less and in the US, it is possible to get a two-year MBA education for less than 20,000 USD.

Nearly all employers who responded to the poll (96%) say that hiring recent business school graduates creates value for their companies, while 69% of employers agreed that recruiting graduates of MBA and specialised business Master’s programmes is a priority in their company’s hiring plans for 2016.

At Harvard, the tuition fee for the 2017 MBA class is 61,225 USD. When health fees and insurance, programme support fees, including books, web-based course materials, other materials, room and utilities and personal spending are added, the sum increases to anything up to 98,400 USD.

Findings from another GMAC survey show that, with regards to job market prospects by industry, job level and job function, a graduate business degree unlocks employment opportunities in all industries, job functions, job levels, organisational sizes, and work locations. According to data from the 2016 Alumni Perspectives Survey, products and services, finance and accounting, and technology are the most common industries of employment for business school alumni. The majority of alumni (63%) fill job functions in three areas: finance and accounting (24% of respondents), marketing and sales (21%), and general management (19%). Viewed by graduation year, recent alumni are more likely to be employed in products and services and technology related industries, whereas those who graduated earlier are more likely to hold jobs in government and in non-profit organisations.

Fees for MBA programmes in European business schools, where the established format is the one-year type, are similar. Additional costs are lower because of the length of the programme. In the London Business School, which was Europe’s top b-school for 2014 according to FT Ranking, tuition fees for the MBA starting in August 2016 were 70,800 GBP.

10. How much does it cost?

The last question is - how much does an MBA actually cost? Costs vary depending on several factors - the length of the programme, additional spending for accommodation, health insurance, food, travel, attending various networking events, books and materials. In general, in the US, the birthplace of the programme where the two-year format is still the most popular, the average tuition exceeds 60,000 USD. At a top 10 business school in the US

In Asia’s most popular business school, NUS Business School of the National University of Singapore, the tuition fee for its 17-month MBA programme is 62,000 SGD, which converted into US dollars is 44,000 USD. The price of an online MBA degree is very similar to that of a campus-based degree. Tuition costs range from 7,000 USD to more than 120,000 USD. Top business schools are typically on the higher end of the scale, but non-ranked schools can also charge exorbitant fees. In the end, what is an MBA? Indeed, it is a costly investment. It costs money, time, energy and commitment. But it is an investment and it pays off. An MBA is a once-in-a-lifetime transformational experience that opens up new perspectives, brings you to wider horizons and enables you to reach unexpected professional and personal heights. In a few words – an MBA is worth it – every part of it. □ I.D-S.

What is an MBA? • An internationally recognised degree designed to develop skills required for careers in business and management • A broad study of all the main aspects of business management • Offers the opportunity to deepen knowledge and expertise in a particular business area or a branch of science • Provides perfect balance in mastering hard skills and soft skills • Flexible in format being available in full-time, part-time, modular, online or blended formats • Gives access to vast alumni networks • A career accelerator – it helps you to, climb the corporate ladder within your current organisation, open doors to a new corporation, or build your own business venture • High pay is one of its biggest benefits

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MBA OVERVIEW

Enterprising Volatility The MBA helps transform uncertainty into opportunity

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e live in uncertain times with crises caused by doubtful government policies, wars, bad financial management and continuous volatility in the commodity and stock exchange markets. Uncertainty is stressful. It invokes fear and drags people and corporations outside their comfort zones. In many cases, it is classified as a negative life event, either personal or business. But as with everything, there is another side to the coin. Uncertainty may be both a challenge and an opportunity. “Uncertainty and mystery are energies of life. Don’t let them scare you unduly, for they keep boredom at bay and spark creativity,” is one of the most famous quotes from R. I. Fitzhenry. Businesses which consider uncertainty as an opportunity, know how to predict, cope with and seize it. When they finally emerge they do so as market leaders with their new products, strategies or policies. Uncertainty may, of course, lead to major breakthroughs, confidence boosts and growth. “The economic shock of 2008 and the Great Recession that followed, didn’t just create profound uncertainty over the direction of the global economy, but also shook the confidence of many business leaders in their ability to see the future well enough to take bold action”, Lowell Bryan, a director of McKinsey New York office says in his article “Dynamic management:

Better decisions in uncertain times”. In fact, companies can’t predict the future, but they can build organisations that will survive and flourish in just about any possible circumstances. This is why, in today’s uncertain times, businesses need those leaders and managers whose mind-sets are tuned to see uncertainty as an opportunity rather than a risk. An MBA graduate is exactly that person. “Clearly you can have a rewarding life and career without an MBA. You can certainly become rich and powerful without one, as Bill Gates, Jeff Bezos, Richard Branson, and Amancio Ortega can testify. But when you’re creating the next Google, Tencent, or Apple, you’re going to need people with the training, skills, and networks that business education is uniquely good at providing. There’s a reason all of those companies hire people with MBAs,” writes Sally E. Blount, dean of Northwestern University’s Kellogg

School of Management, in her essay “Yes, the world needs more MBAs”. According to Blount, the world needs leaders who understand markets deeply, their connection to the public sector, and the philosophical, cultural and social implications of global business growth. “We need leaders who fully grasp that markets, while highly efficient, are not fair, kind, or wise. […] We need leaders who are ready to confront the challenges of growing income inequality, unemployment, environmental impact, and cultural homogenisation that current business practices do not yet adequately address.”

Why an MBA is so important in uncertain times? An MBA teaches you to think strategically about your field or industry within the context of the larger business world. Financial accounting, managerial ACCESS MBA GUIDE 2016-2017

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economics, strategy, marketing management and financial marketing coursework underpin your new capabilities. Studying for an MBA teaches you to speak the language of business. It helps you face problems that emerge in the real business world without running away from them. As the saying goes, “A problem well defined is half solved”. This exemplifies the importance of the conceptualisation steps in any problem-solving methodology. Therefore, it is essential to provide MBA graduates with at least some of the basic fundamentals of how to conceptualise and attack difficult problems. This is why, apart from hard and soft skills, MBA courses are invaluable for the focus they put on teaching various problemsolving techniques, providing attendees with a rich toolkit with different approaches that one can use when facing a problem. The problem-solving methodology taught in the degree enables graduates to view a particular issue from different angles and consider it in its complexity. “The problems that we face in business nowadays are multifaceted. To really solve a problem, you need to understand

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all of its aspects and everything around it,” emphasises Daniel Kiryakov, an MBA from Yale School of Managements. Daniel, who has worked as a venture capital investment analyst, thinks that an MBA graduate is armed with the toolkit for deepdive research and analysis of prospective investments. “The MBA programme provided me with the basic skills that I needed in order to perform this analysis, but also with the framework and mind-set to analyse such complex problems. At the end of the day you want to know if this company is a good investment, and that’s a simple yes or no answer; but to get there, you need to go through multiple levels of examination,” Daniel adds. Bryan thinks that the knowledge, skill, and experience of these leaders make them better suited than anyone else to act decisively when the time is right. Such executives are also well placed to build the organisational capabilities needed to expose critical issues early, and then use the extra lead time to gather intelligence, to conduct the needed analyses, and to debate their implications. “Companies can’t control the weather, but they can design and build a ship, and

equip it with a leadership team, that can navigate the ocean under all weather conditions. Organisations that become more flexible and skilful at making critical decisions when the timing is right have enormous opportunities to capture markets and profits from companies that persist in managing as if the future business environment is reasonably predictable,” Bryan writes. According to Blount, intelligent, highly driven individuals will reinvent markets, fuel growth, and work across sectors to build strong, transformative organisations. But markets or governments won’t do this on their own; the incentives just aren’t there. “That’s why the world needs more, not less, business education. It depends on it,” Blount concludes. “A business degree remains one of the most predictable paths to success and financial stability and can provide the proverbial leg-up from relative poverty to great accomplishment and wealth. In uncertain times, such as we have had since 2008, it tends to draw more students who make this connection,” says Sri Zaheer, dean of the Carlson School of Management at the University of Minnesota. □ I.D-S.

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The MBA’s return on investment is decidedly positive, but human capital is the MBA’s most precious asset

MBA OVERVIEW

Of Wealth and Men

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n investment in education is an investment in one’s future. Anyone can tell you that. But aren’t all investments supposed to net a gain in the future? Put away a certain amount of money now and grab a larger sum later. It’s a no-brainer. However, to truly understand how an MBA can impact one’s financial wellbeing, it is crucial to look beyond the numbers, and into the immaterial realm of soft skills, networking, and most importantly – human capital.

Money talks Before moving onto the more abstract nuances of the MBA’s value, it is worth taking a look at some numbers. A simple question must be answered. What is the MBA’s return on investment (ROI)? The formula is simple enough. ROI equals the gains minus the costs divided by the costs again, and multiplied by 100 (in order to get the percentage). According to a report by the Graduate Management Admissions Council (GMAC) from 2016, the median MBA ROI within the first three years after graduation is 37%. It climbs to 132% in five years, and a staggering 445% within a decade. But how do they come up with these numbers? Let’s take INSEAD, the number one school in the Financial Times’ (FT) Global MBA rankings for 2016. Its full-time MBA programme costs 87,436 EUR. The average salary of INSEAD alumni three years after graduation is 166,168 EUR. Crunching the numbers gives us an ROI of 90%. However, this does not include a couple of crucial parameters – living expenses and opportunity costs. The former can be rather varied – a man can live with very little, or like a king. It depends mainly on fiscal prowess, but also on personal

preference and lifestyle. The latter refers to the amount of money a full-time MBA student will lose over the course of their studies by virtue of not working and it’s rather easy to calculate. For the sake of the argument, let’s assume that a year at INSEAD’s campus in Fontainebleau, southeast of Paris, will cost an average of 1,500 EUR per month. This is calculated by taking numbers from the crowdsourcing website numbeo.com, so it’s a pretty good indicator of a moderate to average lifestyle outside of the capital. Living expenses for one year total 18,000 EUR. Moving on to opportunity costs, let’s take the current average salary of an INSEAD alumnus (166,168 EUR) once more and divide it by the salary increase (96%, according to the FT) to find out what the average INSEAD graduate’s salary was prior to joining the programme. It’s 84,779 EUR. Now let’s add these numbers to the programme fee in order to get a more grounded picture of what the cost in the ROI equation will be. The total cost of the investment comes out at 190,242 EUR.

“The median MBA ROI within the first three years after graduation is 37%. It climbs to 132% in five years, and a staggering 445% within a decade.“

So with a 166,168 EUR annual salary today, which is an 81,389 EUR increase over the pre-MBA salary, an MBA graduate would be able to refund the entire cost in two years and four months. This means that the ROI is 35% in the two years and four months of repaying the investment, and 96% (pre-post salary differential) every year after that. Of course, this is only one school, and only one set of numbers, and it is imperative that every individual makes this kind of calculation on their own, depending on their personal choice of school and the statistics, widely available on the Internet. But, just to be sure that the numbers will always be on the side of the MBA graduate, it is also imperative to keep in mind that the ACCESS MBA GUIDE 2016-2017

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“Deliberate communication, business leadership, processes awareness, strategic vision, a results-focused paradigm and empathetic attitude: all of these skills are invaluable to managers, and together they shape the MBA’s intangible ROI.“

average salary increase following an MBA degree from one of the top 100 b-schools in the world is 97%. This means that once “the debt is repaid”, as any George R. R. Martin’s Lannister family member would say, the net gain of an MBA degree would always be twofold.

Speak softly and carry a calculated smile While the MBA’s ROI is a simple mathematical computation, the true power of the MBA lies in its many intangible rewards. One of these benefits is networking. The UK’s Independent is categorical in its assessment of networking, claiming that “what business schools do so well is to put students in front of powerful contacts”: “Schools encourage students to invite alumni for “coffee chats”, attend industry specific events and capitalise on contacts through projects and internships”. “It’s about positioning yourself to be at your most interesting and finding people who will be interesting to you”, says Cana Witt, MBA careers advisor at Lancaster University Management School.

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The importance of networking is wellunderstood by prospective MBA students. According to GMAC’s 2016 Prospective Students Survey, the enhanced networking possibilities are one of the prime motivations for MBA candidates to enrol in graduate school, along with career change and entrepreneurship. Crucially, none of this is possible without “soft skills” – another critical advantage of the MBA. In fact, soft skills are the centrepiece of graduate business education, since they incorporate the managerial expertise that has come to be expected of the MBA degree. Deliberate communication, business leadership, processes awareness, strategic vision, a results-focused paradigm and empathetic attitude: all of these skills are invaluable to managers, and together they shape the MBA’s intangible ROI. “It’s not just experience and technical expertise employers seek. They also look for professionals with outstanding non-technical or soft skills,” says Bill Driscoll, a regional president at Robert Half International, as quoted by BusinessBecause. “Companies need staff who are leaders, excellent communicators, and [are] able

to align their business units’ goals with the firm’s big-picture objectives”, according to Driscoll.

Human capital There is another term for this collection of abilities – human capital – and along with the new term, come new dimensions of ROI. Few would expect to be able to put something that sounds as abstract as human capital to quantitative scrutiny, but it is possible. First, let us agree on a definition of human capital. Gary Becker, an economist and founder of the concept, describes it as the sum of knowledge, habits, social and personality attributes, which allows an individual to produce economic value through their labour. Simply put, human capital is the collection of soft and hard skills and attributes, which makes an individual an economic asset, both in and of themselves, and collectively as part of the economic unit that they belong to, whether that is a company, or a nation. Essentially, human capital is a resource that every individual possesses, and as such, it can be evaluated. Gregg Fisher, an investment adviser and Forbes contributor, refers to a model, which suggests that people exhaust human capital in order to earn financial capital. “We can define human capital as the present value of your future labour

income, or lifetime earning power”, says Fisher, “Over the course of your career, you effectively convert human capital into financial capital […] Thus, the young accumulator is rich in human capital but probably less so in financial capital.” Professionals of 29-31 years of age contemplating doing an MBA are at the genesis of their lifetime’s earning potential. By investing in graduate business

Credit: Forbes

education, they increase their human capital immensely, which allows them to net an exponentially larger profit over a lifetime. Financial investments at this point of life might seem overwhelming, but in truth, they are rather inconsequential, as the lack of overall fiscal capacity means that the basis is too low to be of significant risk. However, a refusal to invest in human capital will mean that the financial capital accumulated over a lifetime will be markedly smaller, because the lack of human capital will not allow for greater earnings. An MBA degree is unique among its peers in its ability to deliver human capital by incorporating every bit of Becker’s definition. Knowledge, habits, social and personality attributes come together to generate a resource, which can be absorbed, transformed and constantly reinvested to earn more. And while the financial ROI is undoubtedly favourable, it is this lifetime supply of exponentially higher earning potential that makes an MBA a truly intelligent investment. □ A.Z. ACCESS MBA GUIDE 2016-2017

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MBA OVERVIEW

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acing the question of how to finance your desired MBA might make you feel as though you’ve reached a deadlock. It might seem like “mission impossible”, as most people don’t have the option of going to the bank to order a bank transaction for thousands of dollars to pay for the course.

Indeed, finding money to pay for all the expenses that go with an MBA – tuition fees, health insurance, living and travel expenses, and costs of books and educational materials – is one of the biggest challenges facing many MBA students. However, as with everything, there is also good news. Funding your MBA is possible! It is important to be well informed about the numerous options available and finding the best one depends on the personal efforts of every would-be MBA. That’s why a thorough research of all available funding resources is a must.

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“May I Have the Bill Please?” Funding your MBA is a mission possible; you just have to know your options

Savings

providing scholarships to a limited number of students who meet certain criteria. Schools’ criteria range is very wide – merit, experience, nationality, entrepreneurship, gender, financial need, etc. In general, scholarships are awarded to exceptionally able, talented and highpotential candidates.

As a matter of fact, it’s the exception rather than the rule to pay for the whole MBA bill from your own and your parents’ financial resources. However, if not paying for all MBA costs, many students use savings to contribute to part of them.

Some schools extend scholarships to a limited number of students – three to ten, while at others their number is bigger. At some schools, the number of MBA students receiving scholarships can reach up to 80% of all students. There are fixedamount scholarships, full scholarships or partial scholarships that cover between 10% and 90% of the tuition fees. Apart from the fees, some schools provide even for the costs of living.

Naturally, at the start of your research, the first question would be: how much do you have in your personal bank accounts? Can you rely on your parents to support you or would their savings go on a new house or a series of cruise trips for the next 10-20 years?

The luxury of having the cash in a bank account is a privilege for only a few. The rest rely on the other funding options available on the market.

Scholarship

Most of the business schools have institutionalised scholarship programmes

According to findings of the Financial Times in its 2016 Global MBA Ranking, about 45% of students have received scholarships, at

around 32,000 USD. “More than half of students (56%) in North America receive a scholarship worth around 37,000 USD compared with a third of students in Europe who receive only around 20,000 USD,” reads FT in its “MBA by numbers: inside the $200,000 cost” article.

Grants and fellowships

Governments, private foundations and other types of NGOs are also a significant source of funding. Like schools and their scholarship programmes, they have developed various educational grant schemes, awarding grants to a limited range of students - to students of a certain religion, ethnicity, nationality, or academic interest. The common thing about all grants and scholarships is that they are awarded to students demonstrating an exceptional academic and professional record and showing potential for future success. The list of grant and scholarship awarding organisations is long as each country with a developed business education sector usually has such bodies. But to name a few, the list includes the US-based Fulbright Commission, the British Council, British Foreign and Commonwealth Office, the German Academic Exchange Service (DAAD), the Netherlands Fellowship Programme (NFP) and MENA Scholarship Programme (MSP), also in the Netherlands, the European Union’s Erasmus+ programme, the Ford Foundation International, the Aga Khan Foundation, the American Association of University Women and many others.

Sponsorships

Those who work can explore another resource – corporate sponsorship. According to Todd Rhoad, co-author of books for MBA aspirants “The industries that would offer greater opportunity would be the industries that strive to hire top-tier MBAs, such as consulting, private equity, technology (Google and Amazon) and investment firms.” Those companies have institutionalised tuition assistance programmes under which they provide financing for employees’ MBA study while, in return, the employee commits to the organisation. Each company determines the level of commitment and the return that it wants through a formal retention mechanism. ACCESS MBA GUIDE 2016-2017

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The list of companies that offer tuition reimbursement programmes as part of their customary benefit structure, including high-profile nationals and internationals, include also ADP, Deloitte, UPS, Raytheon, Lockheed Martin, AT&T, Intel and Disney. Apart from this, some corporate sponsorships are extended under special deals between business schools and their corporate sponsors which provide a limited number of scholarships to students. As a matter of fact, getting a sponsorship is not the easiest way to finance your MBA and a Financial Times survey proves it: “Though sponsorship can cover the whole cost of the MBA, only a minority of students receive this,” reads the Financial Times in its “MBA by numbers: inside the $200,000 cost” article. “About 10% of those students

Q&A

that responded to the FT survey [for 2016 Global MBA Ranking] received sponsorship, at an average level of 70,000 USD.”

Loans

The final option is borrowing money for your MBA. Many banks have special loan programmes for students providing special soft-term student loans. Banks know your credit history and they can best assess your creditworthiness. Loans with competitive interest rates, grace periods and long repayment periods are also available due to collaboration between schools and banks. Chase, Citibank and Sallie Mae are known for their student loans. Apart from banks, non-banking financial institutions and private organisations offer funding options for prospective MBA students. London-based Prodigy Finance is

one of the best-known programmes. It is a platform for alumni and other community stakeholders to offer funding to students while earning a commercial rate of return. Some loan programmes are subsidised by the government if one can demonstrate financial need or eligibility for government assistance. The Stafford Loans in the US and the Career Development Loans in the UK are good examples. Similar loan schemes can be accessed in other countries around the world but finding the best loan depends on personal research. You will be surprised how many options there are on the market at the end of your research. Finding the best way to finance the MBA requires a sound plan, demanding a thorough investigation of all available options. □ I.D-S.

with a Prodigy Finance student borrower

Emma Buckland graduated from the Cranfield School of Management MBA programme in 2013, where she was the year’s Class President. Following graduation, Emma secured a job as the EMEA Operations Director at FICO – a position she still holds today. Now that you’re back in the work force, what was the most important thing you learned from your MBA?

Given the skills you gained through your MBA, what do you want to achieve in your career in the next several years?

There are genuinely so many aspects, which I draw on regularly - just today at work I have used learnings from macroeconomics, finance, accounting and strategy! However, if I had to pick one thing, I think it would be an enhanced self-awareness and understanding how to shape my interactions to get the best from others.

As much as I can! I would like to continue to contribute and progress professionally, and ultimately I would like to train as an executive coach.

How did you come to choose Prodigy for your loan and were there other options? If so, why Prodigy?

A massive thank you to everybody who's helped me fund my studies. It's genuinely not an exaggeration to say that if it weren't for the Prodigy scheme I wouldn't have been able to do the Cranfield MBA programme. It has been transforming for me. Schemes like this give people like me opportunities to really fulfil our ambitions and hopefully go out to do great things in the world. So a big thank you.

I chose Prodigy because of the close connection with the school, and I also loved the idea of prior MBA students being able to invest and get a return whilst giving students like me the chance to do something which, speaking personally, I would not have been able to fund any other way. Post-MBA, I would now describe that as a virtuous circle!

What would you like to say to the alumni investors who funded your studies?

Prodigy Finance Ltd is incorporated in the United Kingdom (Company Number 05912562) and registered with the Office of the Information Commissioner (Reg. No. Z9851854). Prodigy Finance Ltd is authorised and regulated by the Financial Conduct Authority, and entered on the Financial Services Register under firm registration number 612713. Prodigy's registered address is Palladium House 1-4 Argyll Street, London, W1F 7LD

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It's not just a student loan. It's a community. With Prodigy Finance, the people funding our postgraduate loans are the same as the people using them (give or take a few years). And with our alumni funding model, you know exactly where the money is coming from. And you’re not just taking a loan; you’re joining a community of graduate students and alumni from around the world.

● 150 Nationalities are eligible* ● Loan amounts are based on your future affordability ● No co-signer or guarantor required

to date over

$140M DISBURSED

funding over

● Competitive interest rates

4000

● Conditional approval, with interest rate, in 5 business days Prodigy Finance loans are made under UK law *Exclusions are 1) Domestic borrowers (except UK) 2) Select countries (See Prodigy Finance website)

STUDENTS from

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COUNTRIES

Apply today at prodigyfinance.com Prodigy Finance Ltd is incorporated in the United Kingdom (Company Number 05912562) and registered with the Office of the Information Commissioner (Reg. No. Z9851854). Prodigy Finance Ltd is authorised and regulated by the Financial Conduct Authority, and entered on the Financial Services Register under firm registration number 612713. Prodigy's registered address is Palladium House 1-4 Argyll Street, London, W1F 7LD

MBA OVERVIEW

A Marriage Made in Heaven Corporate sponsorship of your MBA must be a mutually beneficial deal between you and your employer

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ou’ve come to a point when the question is not whether to go for an MBA but how to do it. Getting the degree is a costly endeavour - even the cheapest degree would cost you thousands of dollars or euros. Naturally, the financial question will come up and then the question of how to find the money will echo through your mind.

is the managing director of Atlanta’s BT Consulting and co-author of several guidebooks for aspiring MBAs and recent graduates.

In general, getting financial support for your MBA from your employer depends on the match between your career plans and those of your organisation.

The common case is that the employer provides part of the financing while the employee should commit in return. Each company determines the level of commitment and the return that it wants through a formal retention mechanism.

You search through your personal savings, parents’ bank accounts, loan and scholarship options to find the best way possible to finance your MBA. While doing this, and if you are already part of the active workforce, don’t forget the option to seek sponsorship from your employer. Searching through the corporate policies of your organisation is then the first thing to do.

Some corporate sponsorships are available under special deals between business schools and their corporate sponsors which provide a limited number of scholarships to students. These scholarships are partial and normally cover 25% to 50% of the tuition fee.

“[Making] a proposal [to your employer to finance your MBA] should address the benefit to the company,” Rhoad says, “[including] areas where the company could improve and how you will help them, a review of the courses to be taken and how they will provide knowledge that can help improve the company’s performance.”

Many companies, particularly those in the financial, consultancy, private equity, technology and investment sectors, have institutionalised tuition assistance programmes in their corporate policies. Companies such as Deloitte, Intel, Google, Amazon, Disney and Lockheed Martin are known for their commitment to finance the MBA classes of worthy employees. “Organisations typically support MBA pursuits for two reasons - employee development and succession planning. In the first case, companies support the cost of MBA programmes as part of their commitment to employee training and development,” says Todd Rhoad, who

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Three factors are critical when seeking corporate sponsorship. First, become thoroughly familiar with the benefits policies as written, particularly with regard to what is explicitly excluded. Second, get a good under standing of the degree of flexibility written into the policy to accommodate a variety of programmes and circumstances. Third, the most critical factor, stay sensitive to the personalities of those managers from whom you need support and approval. And even if your company doesn’t have such a programme, this shouldn’t stop you from trying to get the financing. Then comes the big question - how to make your employer see the mutual benefit in your continued education with an MBA?

“We take a very long-term view when we’re making a decision to sponsor somebody,” says Mel Wolfgang, who is part of Boston Consulting Group’s North American management team, where he is responsible for all consultant human resources and development.

Getting the sponsorship comes with a contract No employer, unless it’s your parent, will pay for your MBA just like that. Every employer would need to be sure that money given will pay off. Corporate sponsorship is a long-term business arrangement requiring significant commitments from both you and your employer as well as yielding significant returns for both parties. That’s why it usually goes hand-in-hand with a sponsorship contract. Your employer will bind you with a contract according to which you would be obliged to stay with the company for a certain period of time after you get the MBA or pay back the money.

“Organisations typically support MBA pursuits for two reasons - employee development and succession planning. In the first case, companies support the cost of MBA programmes as part of their commitment to employee training and development.”

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“Outline your goals, career path and future plans in the company and most importantly, define your commitment to the company after graduation as part of their return on investment.”

It is also possible that your employer will add other types of stipulations to protect himself in case you don’t perform well at exams, don’t complete the degree or violate the agreement later on. Other points to consider prior to signing the sponsorship contract are whether the sponsor will limit where you can work in the summer between years one and two of the programme; whether you will return to the sponsor at your pre-MBA level and salary or at a higher level and salary; how many years of work post-MBA are required for your sponsor to annul the cost of the sponsorship or sponsored loan. That’s why before saying “yes” to the sponsorship contract, “be sure that you understand everything about the repayment terms required by your sponsor, especially what the options are for repayment if you choose not to return to the sponsor after graduation,” Harvard advises. Student loans are not available to refinance or buyout sponsorships.

Relationship of trust You might be brilliant as a professional but this might not to be enough when securing a corporate sponsorship. There might be other brilliant employees who are also striving for a sponsorship. It’s up to you to convince your boss that you are the one who deserves the corporate support. Getting corporate sponsorship depends very much on the relationship of trust you’ve built at your company. You should have proven your loyalty to the company before making the financing proposal

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to your boss. Building a relationship of trust starts with your entry in the company through your daily duties at work, collaboration with other staff members, building a network including your colleagues, supervisor and ultimately those decision makers who will take the decision whether or not to award corporate funding. Needless to say, the support of your colleagues and direct supervisor will be invaluable in this situation. A clever move when negotiating your sponsorship is to offer to your boss to pay some of the additional costs of the programme such as travel expenses and accommodation. This could also be used as means to convince your employer that you are serious about the degree and this kind of gesture may further help you build trust.

Make a sponsorship proposal The next step is to make a sponsorship proposal. In a few words, the proposal must be specific, concrete and professional, made in the right moment to the right people. In general, the proposal should present in details your motivation to do the MBA and how this will help the company’s future development and interests. It is of key importance to show how you doing an MBA will develop the company’s business. Clearly show the benefits of the MBA and how it will add value to the company in the longer run. Spell out how each aspect of the courses and skills you acquire would bring positive development to each aspect of the company’s business. Show how the

degree will further strengthen your soft skills, build up on your strategic thinking, ability to manage people and leadership potential. To summarise, when speaking to your employer about the sponsorship you should be ready to answer the following questions: • How much of the tuition and related costs are you asking the company to pay? • Are you prepared to personally contribute to financing your MBA and if so, how much? • How much time will you need off work for classes and educational travel? • How will furthering your education bring value to the organisation?

• How quickly can what you learn can be applied at work? • Which class projects will tie into your professional work? • What is the curriculum’s specific relevance to your work? • What are your career plans after you graduate? • What are your thoughts about a postMBA long-term employment contract? • Can you expect a rise or promotion after completing the programme? “Outline your goals, career path and future plans in the company,” Rhoad says, “and most importantly, define your commitment to the company after graduation as part of their return on investment.”

Good timing is critical for your proposal’s success. If your company has enjoyed positive financial results over the past quarters and has growth prospects, that might be the opening you need. Sell your MBA to the company as an investment. They will pay for the degree, so show them how it will pay off. Promote yourself in the best way possible. Spell out your vision of the company’s development in the next couple of years, how you see yourself from this development perspective, and how you will contribute to these goals and add value. So considering the sponsorship proposal as a business plan is a good idea to start with. □ I.D-S.

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MBA SELECTION

The “M to A” of MBA Full-time, part-time, one-year or two-year: A comprehensive study into the merits of the various MBA formats

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he development of technology and the demand for more flexible business degrees have brought about changes in the MBA landscape. The classic two-year full-time degree and the “European” one-year full-time degree have indeed met strong competition from online and part-time business programmes. However, it would be a serious mistake to assume the classical MBA forms are anywhere near to being eclipsed or dethroned. Part-time, online and flexible MBAs may seem more suitable for candidates above a certain age and working experience. And, of course, there is no great divide between the different MBA degrees – the content of part-time and full-time degrees may overlap. There are, however, some specifics that equip the full-time option with the best tools for the acquirement of management skills and competences. The advantages of the immersion in the study process of a good school during a full-time programme can hardly be beaten by the advantages of the flexible degrees. Education forms a certain way of thinking and discipline. This effect can be lessened by combining it with something else that requires serious attention, such as working, be it part-time or not. The full-time format provides the most ample learning experience (for candidates whose circumstances allow it), compared to the part-time and online alternatives. The MBA will also have distinct flairs

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depending on the whereabouts of the school. Business education should provide a global perspective but the experience itself is coloured by its location.

job if your diploma hails from a “local” institution.

The European MBA is considered to be the most culturally diverse, quick (most often lasting for one year,) and effective. Schools on the Old Continent are the most internationalised and often surpass their US and Asian peers in this regard. The American MBA is traditionally a two-year programme characterised by academic depth and hands-on immersion in the discipline of management. It also gives good opportunities for students to find internships that will help them kick-start their post-MBA careers. However, it is worth mentioning that some American employers may still prefer US MBA degrees to comparable European ones. Finally, Asia is as fascinating as are its booming economic opportunities. In some Asian countries with more conservative management styles, it is easier to find a

The preferences of students attest to who holds the crown in the MBA family – the full-time or the part-time degrees. In 2015, the majority of two-year full-time MBA programmes (57%) worldwide reported receiving more applications than in the previous year. The long-term picture, as shown in the surveys of the Graduate Management Admission Council, confirms a steady upward trend of interest in fulltime programmes - 60% of the two-year degrees received higher application volumes in 2015 than in 2005.

What do the numbers say

The one-year full-time programmes repeat this pattern. In 2015, 51% of these obtained more applications than in the previous year. And 53% also saw an increase in the number of applications compared with 10 years ago. More candidates in both the

United States and Europe wish to study an MBA, according to the available data. The most impressive percentage growth in was experienced by European schools for their one-year full-time programme - 67% of them reported a boost. The long-term perspectives for parttime MBAs remain strong, even if things may not look that rosy at the moment. In comparison to 2005, 54% of part-time lockstep MBA programmes received fewer applications, as well as 39% of part-time self-paced MBA programmes. Still, 2015 presented positive news, with 55% of parttime lockstep MBA programmes and 37% of part-time self-paced MBA programmes witnessing an increase in application volumes on a yearly basis. Statistics tell us what is already intuitively known - it is generally easier for candidates to enrol on a part-time programme than on a full-time course. The two-year degree remains the most competitive worldwide, with a median of 4.5 applications sent per place. For the one-year full-time MBA, this number is 2.7, while the part-time lockstep MBA programme received 1.1 applications per place and the part-time self-paced MBA 1.3. The part-time MBA programmes usually last two to three years in Europe and three to four years in the US. Their biggest advantage - the possibility to combine study and work - in some cases could turn out to be a drawback. It is important not to overestimate the ability to juggle and have it all - work, study and a personal life. Ambitious candidates have to keep in mind that, at certain times, balancing may be tough, and they may have to choose between priorities.

Popularity and quality

A very interesting generational GMAC survey shows that, paradoxical as it may seem at first glance, younger people, who are supposedly more technologically advanced, prefer the traditional full-time MBA variant. The one and two-year full-time courses are considered most frequently by millennials (41% for each of them) and generation X (27% for the one-year full-time MBA and 30% for the two-year full-time degree). This is understandable due to the level of their experience, age and family obligations. So, it is hardly a surprise that the largest share of the older generation- the baby boomers- favour parttime MBAs (42%) and online MBAs (40%). In comparison, just 15% and 20% of them respectively consider the one and the twoyear full-time options.

Geographically speaking A detailed geographical study into candidates’ preferences discloses that the two-year full-time option is most popular in Central and South Asia, Latin America, the Middle East and the United States (in that order). The regions that favour the oneyear full-time option the most are Central and South Asia, Latin America, Canada and the Middle East (also in that order). The places with the highest preferences for part -time MBAs differ. This is the biggest priority for candidates from the US, Canada, Africa and the Middle East. The American traditions in business education and the appeal of the US are also important factors for applicants. Of all the prospective students polled in 2014, 66% said that the United States was their preferred destination. This represented a decrease of 7% in comparison to 2010, but the country’s leadership is still undisputed. The other most favoured destinations are

the UK, Canada, France, India, Hong Kong, Germany, Singapore, the Netherlands and Australia. Internships are a great way of landing a job and employers worldwide look for suitable MBA students or graduates. A different GMAC survey of 179 employers from 31 regions/countries shows that more than four fifths (82%) of the companies polled offer internship opportunities. Among them, 73% offer work placements to MBAs. And they do value the degree - 66% intend to maintain the quantity of internships, while 26% plan to increase them in 2016. The survey reveals that the favourite industries for part-time/flexible MBA students are products/services (26%), consulting (17%), finance/accounting (14%) and technology (14%). Surprisingly, healthcare (13%) is also a preferred field for them, unlike for the full-time MBAs. The top three industries for full-time students cover the same areas in a different order. For students of the one-year course, these are finance/accounting (26%), products/ services (23%) and consulting (19%). And the interest of the two-year full-time students focuses on finance/accounting (24%), consulting (22%) and products/ services (19%). Both part-time and full-time MBA programmes increase employment perspectives. According to the GMAC 2015 Global Management Education Graduate Survey, however, they were higher for the part-time/flexible jobseekers from the Class of 2015. An impressive 68% of them received an offer from an employer before graduation. The figure for the two-year full-time students was comparable - 63%, while the one-year full-time programme lagged behind at 36%. □ D.G.

A recent GMAC poll confirmed that most prospective business school students prefer the full-time MBA to its alternatives. Nearly 60% of them go for it. The two-year full-time MBA is the most preferred MBA programme by the majority of candidates worldwide (32%). Not surprisingly, the second most popular choice is the oneyear full-time MBA (27%). These two options are followed by the part-time MBA (15%), flexible MBA (7%), online MBA (6%), executive MBA (6%), and the joint degree programme with MBA (3%). ACCESS MBA GUIDE 2016-2017

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MBA SELECTION

Stripes of Fame Rankings are a measurement of business schools’ performance, but accreditations are the real factor of quality

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rom a purely academic tool to a mass media opinion-making machine, MBA rankings have changed dramatically since 1977 when they were first invented. In the beginning it was the Carter Report, whose criteria were limited to the publications of faculties in academic journals. The Ladd & Lipset Survey, which started in the same year, examined how faculties ranked schools, and deans voted for the best programmes in the MBA Magazine, now defunct. But it wasn’t until 1988 when Business Week published its first ranking that the whole game of assessing, criticising, and wooing between business schools and big media really began. Just like ROI, rankings are a helpful tool if used properly, as they contain a lot of valuable information for applicants. But being critical is useful in this case. The drawback of rankings is inherent in their huge influence, as they tend to overshadow more important factors. Such as, for example, whether a school is really suitable for a candidate, whether it fits his/her career goals, and whether is recognised by the applicants’ preferred industry. Rankings also contribute to the culture of shallow evaluation of business schools. They cannot give all the answers, no matter how exhaustive and detailed they seem to be.

Salary after graduation To demonstrate some of the benefits of rankings, we will review one of the

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most interesting aspects for prospective students - the change of salary after graduation. For this purpose, we shall rely on the Financial Times’ data. It is no surprise that the schools from the developing world are leaders when it comes to biggest percentage increase. For the last two years the Chinese Shanghai Jiao Tong University: Antai is the champion. In 2015 its graduates saw a 160% boost to their income, compared to their pre-MBA days to 93,690 USD and in 2014 the rise was 166% to 84,890 USD. Chinese schools dominate, and in 2013 all the positions in the top five were from China. China preserved its first four places in 2014, and the fifth was taken by the National University of Singapore Business School. In 2015 the first, Shanghai Jiao Tong University: Antai, is followed by the Chinese Fudan University School of Management and CEIBS. The fourth and fifth positions are for the Indian School

of Business and the National University of Singapore Business School respectively. The way the first places are determined depends on the schools providing good education at reasonable prices and on graduates receiving attractive salaries. Asia, mainly due to the lower income level of countries such as China, also reflects a higher ratio of prior to post MBA salaries. This rule is valid, as a whole, for the booming developing countries and explains the high pay percentage boost we observe. But this is also proof that the industry acknowledges the quality of the good business schools and pays their alumni well. Undoubtedly, the influx of investments into Asia over the last two decades has made it a vibrant place for studying MBA. However, there are some geographical specifics one should be aware of. For example, the top Chinese business schools may be relatively internationalised but the same cannot be said about the

situation in the job market in mainland China. In contrast, in Singapore there are more career opportunities for expatriates, especially in line with the scope of the job market. If we look down this ranking, the last two places are taken by the University of St Gallen in Switzerland and University of Baath School of Management in the UK. The first’s mean salary is 104,891 USD and reports 58% increase in pay, and the second has a salary of 96,846 USD which represents a 55% increase. These are still more than decent numbers and they indicate that one shouldn’t be mesmerised by the huge percentage boost in Asia. And if we really want to find out who gets the highest pay, we have to go west. According to the 2015 figures for weighted salary, the best paid alumni three years after graduation were those of the “usual suspects”. Disciples of Harvard received almost 180,000 USD, followed closely by the graduates of Stanford, Wharton, and Columbia. Logically, this list is more sustainable than the one for the salary percentage increase. The top five in 2014 reflects the same participants except that Stanford is the leader, Harvard is second, and Kellogg third. Stanford also took first position in 2013 with an average pay of close to 195,000 USD, Harvard was second again, and the rest of the positions were the same as in 2015. At the bottom of the ranking for weighted salary are Fudan University School of Management in China with about 91,000 USD and McGill University: Desautels in Canada with close to 90,000 USD. It is paradoxical that Fudan was second for salary increase with 148%: in this ranking it is also second - but from the bottom. A great illustration of the combination of impressive development and imbalances so typical for China. Good old Europe lags behind America significantly in terms of weighted salary three years after graduation. The highest salary (approximately 155,000 USD) went to graduates of INSEAD which ranked 10th, followed by London Business School (about 154,000 USD) at 12th place, IE Business School at 14th place, IMD at 16th, and Cambridge Judge Business School at 18th place with 147,000 USD. One of the reasons for this balance of power is that Americans

simply pay more for MBAs. Better handling of the financial and economic problems of the US does not weigh here so much. And should the trend in the currency markets of weak euro and strong dollar prove sustainable, this distinction could deepen even further. However, applicants must take into account that generally the ROI in Europe should be higher than in America, mainly because the degree is shorter. The Old Continent’s other big advantages are that the MBA is more internationalised and that there are greater chances for realisation in the job market.

Rankings methodology The rankings of the Financial Times, Forbes magazine, The Economist, Business Week, The Wall Street Journal, and US News & World Report have gained global recognition over the years. However reputable they are, it would be wise to look not only at the publications, but also at the methodology they are based upon to understand whether they fit with your own preferences. Forbes magazine’s biennial ranking takes into account only the return of investment in the five years after graduation. The Financial Times’ formula includes the weighted salary of MBA graduates (20%); salary increase (another 20%) in the last three years; number of articles by faculty members in academic journals (10%); international mobility (6%); doctoral rank (5%) and faculty with doctorates (5%). Business Week’s methodology relies mainly on the opinion poll of students and corporate recruiters - 45% each. The remaining 10% apply a scholarly criterion- publications in academic journals.

“Yet, when choosing a business school, accreditations reflect the quality of education more adequately, as rankings may be compiled from incomplete facts and figures.“

Yet, when choosing a business school, accreditations reflect the quality of education more adequately, as rankings may be compiled from incomplete facts and figures. The main accreditation bodies - EQUIS, managed by the European Foundation for Management Development (EFMD), the Association to Advance Collegiate Schools of Business (AACSB), and the Association of MBAs (AMBA) certify institutions after a careful review of their academic standards. When a school receives an accreditation it has the obligation to preserve the criteria it was accredited for. This is a more relevant proof of merit than a place in a Top 20 that may simply not exist the following year. □ D.G. ACCESS MBA GUIDE 2016-2017

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MBA SELECTION

Apples and Oranges (OP-ED) Choose by school or by programme: A personal take on the age-old dilemma

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ow to reach the right decisions when choosing an MBA? How do schools compare to programmes? What are the merits of focusing on the school as opposed to the programme and vice versa? Finally, can there be a balanced decision? When my brother and I were on the verge of going to college, we held just that discussion. “What kind of school do you prefer: more modern and high-tech or old and classic?” I asked. “Of course I’ll go for the modern, are you crazy?” was his response, and that’s where he went. I was for the old and classic, and that’s where I went. That was at the end of the ‘90s. Guess what? A lot has changed. New vs. old, modern vs. classic, local vs. international, large vs. small, expensive vs. affordable. There is so much, too much, to consider in terms of MBA selection these days. It has probably already dawned on you that your future MBA will be one of the greatest investments of your life in terms of money, effort and time. Therefore, finding the right school is not just about looking at rankings, or choosing one considered as “prestigious”. The key to making the right choice is figuring out why you want to take an MBA, and what you expect it to do for you. The truth is, you can stop reading this article right at the end of this sentence as it will sum up the best and most straightforward advice: Go to the best school you can get into. That said, let’s see what the inherent strengths of the two arguments are.

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institution like that has to offer: classes taught by the brightest minds in their field, state-of-the-art technology and equipment, a unique atmosphere of esteem, achievement and competition, and a sea of knowledge to dive into.

Elitsa has a Bachelor’s and a Master’s degree in English from Sofia University. She has specialised at the University of Surrey Roehampton, London, as a Shakespeare scholar. Elitsa has worked as Admissions Councillor (EMBA) at the American University in Bulgaria.

School strengths Building a network of contacts Having the opportunity to develop and strengthen an excellent network of contacts of like-thinking peers from all over the world is the one thing that all MBA alumni consider to be a school’s best asset. If you are able to appreciate that, then you need to aim for a high-ranking school with an international profile. There is more to higher education, be it under or post-graduate, than your immediate programme. Harvard Business School is part of greater Harvard, so you will get access to everything an incredible

Develop international experience If you want to go international and take your business or expertise to new markets, then you should aim at a school that boasts a truly international class, and often faculty. Even if you wish to be an entrepreneur, instead of working in the corporate world, businesses these days may skyrocket into new markets with the speed of light. In order to be prepared for that, you may wish to use your two-year residency to get to know new markets and cultures from the people around you, and from the international internship or project development opportunities provided by your school. Location For whatever purpose you wish to use your degree, the school’s location could turn out to be the best friend of your business or career. If you are in IT, then a school in an IT prolific area such as California or the UK would provide you with the contacts, clients, partners and high-quality employees to facilitate your future growth. It is, therefore, no wonder that the schools in Chicago, Boston and London have a greater focus on finance. You might also consider which languages would be of use to you in the future. Almost all top programmes are taught in English, but simply living in France, Germany or Hong Kong for a year could equip you

with a level of fluency that could be highly valuable in the future.

School strengths Climb the career ladder If your end goal is to climb the corporate ladder, choose by programme. It is the programme’s specific curriculum that provides the necessary mix of soft skills, knowledge, class interaction and discussions with the professors, to make you challenge your own beliefs. Gone are the times when adding three letters after your name was a sure ticket to a spacious office and a six-figure starting salary, but equipped with the skills acquired during your studies, you can achieve this on your own. By the way, that is also true if you are set on a total overhaul of your career. It is what you learn in life (or school, in our case) that makes you confident and capable enough to undertake a complete change of direction. Set up your own business With the start-up boom and the almost desperate demand for innovation, entrepreneurship is the new mode. Almost all reputable schools have it, more so in some parts of the world than in others. But it is the programme’s concrete curriculum rather than the school’s abstract reputation that will actually teach you entrepreneurship. It would not be fair to say that if you go to an established

institution such as Wharton or LSE, you will immediately become the next Elon Musk. Even the crème de la crème of business schools would not be able to turn you into an entrepreneur if you don’t have it in you. However, you are more likely to become one by meticulously absorbing the programme’s substance. HEC Paris’ MBA entrepreneurship specialisation track is especially well known for that. Of course it teaches a balanced view of entrepreneurship, but most importantly it is able to assess whether entrepreneurship is indeed right for you. Specific issues are covered for high-tech startups, execution, business modelling, governance, how to network, and how to enter markets. If, when you’ve completed this course, you still have doubts, then nothing is going to alleviate them. Specialisation MBA students around the world are seeking to use their newly acquired business degrees to advance in niche businesses of their own or in newer industries. That has broadened the horizon for new, nonbranded schools to enter the stage and expand the best programmes’ ranks to the top 100 rather than the top 20, mainly due to their specialisation. Beyond the generalist nature of the MBA degree, schools have become “known for” certain areas of expertise such as marketing, entrepreneurship, finance, non-profit, real estate, IT management,

health care, etc. The schools not only work hand-in-hand with the related industry, but also have faculties which have developed an area of expertise. They might have an incubator to attract venture capital for entrepreneurial business plans, or offer work-study programmes that give students hands-on experience of working with NGOs. You can find information on the various schools’ particular strengths on their websites, in alumni forums and in various rankings. A specialised degree does not mean a smaller school. Top schools are winners here too, as most of them seem to be “known” for something: Kellogg for Marketing, Stanford for IT, Stern for Banking, Wharton for Finance, etc. And yet there is so much more that those schools do. The truth is each one of the top schools will prepare you for whatever you wish to do with your MBA degree post-graduation. Considering the magnitude of a decision such as enrolling in an MBA programme, everyone wants to get the most out of their investment. So, as stated earlier in this article, the perfect option is to aim for the best school you can get into. If for some reason that’s not possible, think of which elements of the experience matter to you the most. Almost certainly, your first questions will be “Where?”, “What programme?” and “How long?” Your ‘balanced decision’ will be found at the crossing point of the answers to these questions. □ E.V.

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MBA SELECTION

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For Inquisitive Managers Only The Specialised MBA’s added value is the provision of in-depth industry knowledge

Specialised MBA degree must be specific to a certain sector within the wider economic context. The course curriculum’s main focus is acquisition of specialist knowledge in a particular field, which could range from aerospace to hospitality. The market value of this kind of postgraduate education is not to be underestimated. The type of sector-specific, in-depth knowledge that a specialised MBA confers on students, is necessary for career growth in certain niche sectors, such as luxury, or even information technology.

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A quick overview In a general sense, specialised MBAs are mostly designed for those managers who wish to gather more knowledge in a particular field of business, while retaining the classic benefit of an MBA, that of general management. Thus, managers who have undertaken an MBA, can be divided into two broad categories: general managers, with previous technical and professional experience in a given subject area, who make up the majority of those drawn to the MBA, and managers, who aim to acquire a Specialised MBA degree in order to gain the technical or professional expertise, along with the management

skills. Taking the broader financial services industry as an example (Brunel, 2006, p. 339), it could be argued that specialised MBA managers have proven to be more efficient in the context of sector-specific activities, such as wealth management and risk control. When questioning just how specialised a specialised MBA programme is, one should consider the different choices available. According to the educational consultancy Aringo Consultants (2016), a specialised MBA may provide indepth knowledge in any one topic such as marketing, information systems (IT), accounting, human resources, supply chain

management, etc. Imagine that a male IT engineer wants to become a manager. He takes a classic MBA programme because he already has hard programming skills, but he lacks managerial skills. On the other hand, suppose that a female graduate student from a commercial field wishes to pursue a career in payroll management and staff training. If she has already managed to get a job, then she may opt for a specialised MBA degree in human resource (HR) management. This specialist qualification will enable the female graduate to apply for better opportunities, supported by a background of initial work experience, in HR management roles.

The specialised MBA’s true nature In reality, the specialised MBA has found a niche in the market for sectorspecific knowledge, rather than in the more general business topics, such as marketing, HR and finance. Globalisation and outsourcing of business processes have increased the demand for managers with narrow professional backgrounds.

This is particularly true in multinational firms. Even though most MBA students pick up a specialisation area once their required classes are over, specialised MBA programmes provide students with an opportunity to concentrate on their selected field from the very beginning of the academic term. For example, the Bordeaux Management School (France) offers an MBA degree specialised in marketing wine. An MBA in the specific field of gas and petroleum management is available at the Robert Gordon University (UK). These examples define specialised MBAs and illustrate how different institutions are attempting to prepare their students for diverse kinds of managerial and sociotechnical roles. Multinational companies aim to fill a niche for managers with deep understanding of their industry. Unlike a general manager, such a manager is supposed to have more departmental expertise and in-depth knowledge of the economic, political and social powers that drive their business. Industry-specific knowledge remains the cornerstone of specialised MBAs.

The value of a generalist MBA The opposite example would be a technical or process manager who fails to get promotion due to a lack of managerial expertise to motivate their subordinates and boost revenue, as required by their employer. The importance of a conventional MBA degree is undeniable. Modern business leaders must become accustomed to a wide range of legal, managerial, operational, financial and HR issues. Specialist knowledge alone often proves insufficient when dealing with business management functions as a whole. Therefore, even a specialised MBA degree programme must have an exhaustive course curriculum that is able to confer both specialist and generalist knowledge. The specialised MBA is thus suitable for candidates who are already managers, but who lack specific knowledge about their industry, or for newcomers, who want to make a complete switch of careers, with no prior experience or expertise. □

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MBA SELECTION

Riding the Cyber Wave The Online MBA has risen in popularity due to its increasing flexibility, recognition and quality

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he proliferation of Online MBAs is a modern-day phenomenon, linked to both the development of the Internet and the need for more flexible business education to suit practising professionals. This is why it may sound surprising to some that their history pre-dates that of the Internet itself. It is believed that the first online MBA was offered by Aspen University in 1987 - hardly a period in which the World Wide Web was widespread. Europe followed the US route but it was not until 13 years later - in 2000 - that the online MBA arrived in the Old Continent, with IE Business School being the first to launch one.

Online MBAs offer experienced professionals a convenient opportunity to combine work and study. Short and long-term statistics reflect the changes in preferences of business school candidates, from other professional and flexible MBA degrees to online MBAs. While in 2015 half of all flexible MBA programmes reported a boost in application volume in comparison to 2005, the share of online MBA programmes reporting an increase was even higher – 67%. For comparison, the trend in applications for executive MBA degrees and part-time MBA programmes has dwindled by 52% and 49% respectively. In the US, the rise of interest in online MBA programmes is palpable - in 2015, half of the schools received more applications than in 2014, and in 2014, 43% of programmes reported a boost in applications vis-a-vis 2013.

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This information was circulated by the Graduate Management Admission Council in its 2015 Application Trends Survey. Though the online MBA data is primarily US-centric, the study is global with the participation of 641 graduate business programmes in 306 universities from 35 countries, 42 US states and the District of Columbia.

Employment and Online MBAs But how does the online MBA fare in the eyes of employers? GMAC sheds some valuable light on this question: in 2015, only 16% of part-time MBA and 11% of executive MBA programmes expected the majority of applicants to have the financial backing of their employer. On the other hand, 35% of online MBA programmes anticipated candidates to be financially supported by their companies. And there’s a good reason for this. Online MBAs are the most likely group amongst business education alumni to keep their current employer, according to the 2015 Global Management Education Graduate Survey Report. Of all online MBA respondents, 88% report plans to maintain their current job. The majority of the other professional MBAs - part time/ flexible and executive students - are of the same disposition. The difference is that their rate is a bit lower than that of the online MBAs – 77% and 75% respectively. It’s no surprise that the contrast with other business programme graduates is stark. Just 15% of one-year and two-year MBA graduates plan to stay with their company.

This is further confirmation that, statistically, the majority of online MBA students are already well into their professional road when enrolling on the programme. For this demographic, the online MBA is a more suitable way of studying business than the full-time option, in view of a stable career and the reluctance to give up work and remuneration. Another cause for favouring online over full-time study is that many quality schools offer relatively the same quality in both programmes, with the same, or at least no less accomplished, academic staff and lecturers. The online degree should not be a compromise or of lower quality. Indeed, the candidates themselves need to make sure that it isn’t. Good research into their selected programmes is crucial. In addition, alongside the learning process, the online experience should provide as equal as possible opportunities for networking too. Of course, proactiveness is the key here. It is mandatory for a school offering the online MBA to also boast high-level technological facilities. An interesting trend in online MBAs that has been gaining momentum in recent years is the blended option. This means that online classes and lectures are followed by offline face-to-

face sessions - e.g. 70% online time, 30% face-to-face time. Robert Bruner, dean of the University of Virginia’s Darden School of Business, puts the emphasis on the importance of the hybrid form of learning. “I’d say that the comparison of online education today to the old distance-learning, closed-circuit TV systems is not just a comparison of apples with oranges, it’s almost a comparison of rocks versus diamonds,” he says in an interview for Poets and Quants. Bruner, whose school has online courses in its executive programme, is a believer that online education will continue to improve.

For experienced individuals In 2015, online MBA students were some of the most satisfied with their education experience. Almost 90% (89% to be exact) would recommend their programme, with the value rating standing at 94%, second only to executive MBAs (95%). The methods of instruction used in the classroom demonstrate once again that the programme is tailor-made for professionals. Compared to other postgraduate business students, those taking the online MBA used the team projects method above

all, followed by lecture/discussions, case studies and pure lectures. Theory gives way to practice as the most suitable method for experienced people to accumulate hard and soft skills, know-how and other valuable competences. Other than this, there are some different specifics. Richard McNeal, a recent MBA graduate in Management from Marylhurst University shared his perspective in an interview for onlinembatoday.com: “The online experience is distinctly different from the classroom setting in many ways. For example, the online classroom tends to favour those students who possess above average writing skills because, essentially, all communications, not to mention assignments, are written. Also, online programmes require more developed time management and organisation skills — you have to be disciplined to be successful.” The rise in interest in online MBAs in the US in 2015 came from both domestic and international candidates. Forty-three percent of the programmes reported that they received more applications from domestic students and 24% noted a decrease in these candidates. The attractiveness of the online degree was also

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“Although it may depend on the programme itself, online MBAs are generally easier to get in to, compared to the full-time option.“

acknowledged by international applicants, albeit maintaining a relatively limited share - just 8% of the overall pool. Thirty-five percent of the programmes reported that they had more international candidates then in the previous year and 25% said they had fewer. Although it may depend on the programme itself, online MBAs are generally easier to get in to, compared to the full-time option. The acceptance rate for Carnegie Mellon’s MBA, for example, is 60% for online applicants and 31% for the two-year full-time MBA. The median GMAT score for the former is 45 points lower than that of the full-time option.

Online degree rankings and accreditation With online degrees gaining steam, some media have started making their own online MBA rankings. Unlike the undisputed traditional clout of the full-time rankings, online rankings are yet to assert their power to influence public opinion. They are interesting, as their criteria differ from the criteria for full-time and executive programmes. One of the most prestigious of these is published by the Financial Times. In order to feature, a school should be internationally accredited, the programme must have existed for at least the last four years and a minimum of 70% of the course must be conducted online. The FT also stipulates that students should go through a selection process before admission and an examination before they finish the course. Two online surveys are conducted - one examining the schools and one examining the alumni. The responses of the graduates account for 65% of the ranking’s weight and form six ranking criteria: “salary today”, “aims achieved”, “programme delivery”,

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“online interaction”, “salary increase” and “value for money”. The schools’ responses make up the remaining 35% of the weight and form 10 criteria, such as “doctoral rank” and others. Whereas the FT ranking is global, the US News & World Report ranks only Americanbased programmes. Student engagement carries the highest weight (28%). Admission selectivity and survey of academic officials at MBA programmes both carry 25% and faculty credentials and training, along with student services and technology account for 11% each. Finally, it should be noted that, while online MBA rankings came to be because of market demand, scoring high in classic, well-established rankings such as the FT Global MBA rankings and Bloomberg’s Businessweek rankings is a good indication of the school’s overall quality. “If the school is ranked high by the Financial Times, it’s probably a good bet” is a proven axiom that applies as much to the choice of an online MBA as to full-time MBA programmes. And yet, rankings should always be taken with a pinch of salt. They provide useful information, often interesting statistics and, above all, valuable data concentrated in one place. However, their overall credibility is not to be taken for granted. Instead, candidates should pay equal, if not even more, attention to accreditation. Just as in all other programmes, online MBA degrees have good apples and some not-so-good ones. Differentiating between them depends on applicants themselves, but research is of the essence. Accreditations are the most reliable hallmarks not just for the quality of online MBAs but for business education degrees in general. □ D.G.

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MBA INTERVIEW

Two Sides of the Same Grit Career perseverance and an insatiable hunger for knowledge meet in the Part-time MBA

Why did you decide to pursue an MBA degree at McGill?

The financial benefits of not putting a hold on your earnings are also worth noting. Beyond the MBA expenses, there is a major opportunity cost related to pushing the pause button on your career. The parttime option greatly diminishes the financial pressure of returning to school, which makes it one of the more accessible routes for aspiring MBAs.

My choice to pursue an MBA degree was the result of a fateful discussion with a mentor who recommended I continue building my CV. Once I committed to that decision, I approached it as any major investment. I looked beyond the financial terms, and into the time and energy required to gain the most from it. That perspective put a premium on attending a top-tier school, making the McGill Desautels MBA a clear frontrunner. Getting an MBA was also the best way to address knowledge gaps I had exposed as my career got underway. Although I held a Bachelor of Commerce (B.Com) degree at the time, I quickly ran into areas of business that I needed to strengthen in order to add value in more senior roles. McGill’s Part-time MBA programme was perfectly suited to my needs, allowing me to benefit from a rich curriculum without skipping a beat in the workplace. I was ultimately able to fill in many of the gaps I had identified and picked up a great number of unexpected returns.

What were the factors that made you choose a parttime MBA instead of another format?

The most critical factor was not taking a break from work. I did not want to run the risk of losing the momentum I had established in my career to date. Fortunately, I was even able to accelerate my professional development over the three-year programme, which turned out to be a big win-win situation for me.

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In hindsight, there are many other advantages related to pursuing a part-time MBA, including honing my time management skills and building relationships with like-minded, driven people from a wide range of industries.

Patrick Brayley

McGill Desautels Part-time MBA Graduate, Class of 2016 Patrick Brayley hails from Canada. Having worked in the entertainment industry for nearly a decade, Patrick has accumulated a wealth of experience in major event development, mergers and acquisitions, as well as requestfor-proposal bidding. His noteworthy milestones include a winning bid for the 20-year management rights to a 200M USD, 10,000-seat arena. He has also participated in the development or acquisition of several worldrenowned festivals, including Osheaga and the Montreal International Jazz Festival. Patrick holds a B.Com from Concordia University. He graduated from McGill’s Desautels Professional MBA programme in April 2016 to join a top-tier management consulting firm shortly thereafter.

Do you feel satisfied with your choice of a part-time programme?

Absolutely. The beauty of McGill’s PMBA programme is that it offers the breadth and depth of a full-time programme. This includes pursuing a concentration, which was critical to me as I entered the programme with a business background and little interest in covering areas which I had already explored. The greatest source of satisfaction came from being able to learn something in a classroom on a Tuesday evening and then applying it in a meeting with my team the morning after. I cannot overstate how critical a role this played in crystalsing my learnings. The workplace became the perfect complement to the classroom, with the two worlds playing off of each other to create more and more value. I cannot see how I would have retained as much of the material had I not been applying it daily over the past three years.

Another highlight which I cannot overlook was our ten-day study trip in Singapore last spring. Both streams, part-time and full-time, were invited to participate in this unforgettable experience, giving us the opportunity to see first-hand how business is conducted elsewhere. That trip was incredibly inspiring and made me realise that I wanted to have a career which would take me around the world.

How would you describe the learning environment and subjects in the PT MBA course?

The programme offers a very dynamic learning environment, with a balanced combination of case-work and theory. The fact that it allows students to select courses based on their interests was a major advantage, and provided a degree of flexibility which is not found in every part-time MBA. The classroom was always particularly exciting when the material was related to the work experience of one or several classmates, which was actually a frequent occurrence given their diverse backgrounds.

Being able to see the practical merits of material and gleaning industry-specific insights from expert peers was invaluable.

How hard was it for you to combine work and study during that time?

My honest answer is that the first few months were very challenging. It took me some time to get back into the rhythm of school while working a demanding job. The good news is that I saw for myself how being put in situations where you need to stretch is exactly how you grow. My peers and I quickly adapted and became a living proof of Parkinson’s Law – work expands to fill the available time. It is amazing what you can do in a short period of time when you put yourself in a must-perform situation! You also learn to establish a strong support network, starting with your fellow part-time students. The shared challenges become a bonding agent, laying a foundation for incredible relationships. The resultant camaraderie that we share is something I will value for the rest of my life.

What has the Part-time MBA degree given you, career-wise?

The PT MBA yielded major benefits both during and after the program. As I moved through the curriculum I gained confidence in my abilities and, more importantly, a newfound awareness of the subtleties of business. I came to appreciate and refine the soft skills needed to be more effective in the workplace. More tangibly, I entered the programme as an analyst and, by applying what I was learning, rose to a director-level role within 18 months. Entering my final year, I found myself being presented with opportunities I had not even considered before starting my MBA. As a result, today I am gearing up to start an exciting new career working for a top-tier management consulting firm. The whole experience has been nothing short of a transformation of my entire life. I will always look back at my decision to pursue a Part-time MBA at McGill as a major turning point – one I am tremendously thankful for. □ A.Z.

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Canada is a welcoming country and a solid MBA destination

MBA SELECTION

The Canadian Dream

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overing vast expanses of land in the northernmost part of North America, Canada is one of the most successful Western countries in terms of raw GDP (ranking in the top 15, according to various sources), ease of doing business (top 15, according to the World Bank) and general education performance (top 10, according to the UN). It comes as no surprise, then, that Canada is also a prime location for doing an MBA.

with the fact that everyone completing an MBA programme in the country is likely to receive a work visa for up to three years after graduation, this means that work is anything but deficient in Her Majesty’s subarctic realm.

A smart place for an MBA

Speaking of cities, Canada’s golden top 10 includes pearls such as Vancouver, Calgary, Ottawa and Edmonton, which represent a diverse mix of businesses, with a geography and environment that are overshadowed only by the likes of Toronto and Montreal. The former hosts the famed Bay Street, which is considered to be the equivalent of New York’s Wall Street, and the latter is the world’s second largest French-speaking city, which provides indirect access to French business across the Atlantic.

According to Admit Master, a Canadian MBA Admissions Consultancy, many international candidates choose to apply to Canadian MBA programmes because of Canada’s friendly visa and immigration policies. The Canadian economy is welcoming to newcomers as long as they are qualified. More than 250,000 workers immigrate to Canada every year, which means that businesses are used to employing people who have worked in other parts of the world. Naturally, finding employment in Canada is much easier for candidates who hold a Canadian degree. This is why international students graduating from Canadian business schools usually face little or no trouble finding employment in Canadian companies. Proof of this can be found in the marginal levels of disparity between post-MBA levels of employment for Canadian versus international students. A 2015 report by the Halifax Partnership claims that “immigrant workers made up 22% of the Canadian labour force [in 2011, -ed.] and had accounted for 41% of growth in the Canadian labour force since 2006”. Relating to the MBA sector, one could argue that these numbers can be explained by the inclination of Canadian business schools to admit candidates who they see as employable in Canada. Combined

And with powerful sectors, such as Finance, Pharmaceuticals and Oil and Gas at the forefront of the economy, there is little difference between the life an MBA graduate can expect in Canada compared to cities like Chicago or Los Angeles (minus the subtropical climate).

“More than 250,000 workers immigrate to Canada every year, which means that businesses are used to employing people who have worked in other parts of the world.“

“Montreal is a cosmopolitan city, a melting pot where it is not uncommon to meet people from three different continents at the same party”, says Mathieu Renou, an HEC Montreal alumnus. “Part of my decision [when I was deciding where to get my MBA] was job availability in the city and how many students get jobs [in Toronto –ed.]”, adds Adedoyin Adesemowo, an MBA graduate from Ryerson University, Toronto.

Respectable schools But how good are Canadian universities? They usually do well in global MBA rankings, such as The Economist’s MBA Rankings and Bloomberg’s Businessweek MBA rankings. University of Toronto and McGill have been placed in at least one ranking’s top 25 every year for the past ACCESS MBA GUIDE 2016-2017

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decade, with many more claiming a spot in the top 100. Ivey has been Bloomberg Businessweek’s number one international school (outside of the US) for two years running. However, when it comes to the Financial Times Global MBA rankings, it is more difficult for Canadian schools to score as high as in other rankings, since its methodology is based on post-MBA salaries and salary growth, claims Advent Group’s North America Director Jonathan Khayat. “Canada has a good economy but income disparities lead to schools in Canada being outscored by institutions based in cities such as New York, London and Singapore”, Khayat explains. University of Toronto: Rotman is ranked 60 in the FT 2016 Global MBA Rankings, with McGill and Ivey placing in the 80s, and Queen’s University: Smith and UBC: Sauder claiming spots in the 90s. Accreditation-wise, Canadian schools are well-adapted to international standards, with all schools claiming at least one certificate and many sporting two. The two so-called triple-accredited schools (holding AACSB, AMBA and EQUIS certificates) in Canada are HEC Montreal and Telfer School of Management.

US and Canada Unsurprisingly, Canadian MBA programmes carry many similarities to their neighbours to the south. Canadian MBA curricula are identical to US programmes in terms of duration (two years), electives and emphasis on doing an internship. There are some exceptions, such as Queens and Ivey, which offer a oneyear programme, and UBC: Sauder, which has created an American-European hybrid that lasts for 16 months. Internships are a key component, and an option to study abroad is often introduced at a later stage during the programme. The first semester is usually introductory and general in nature, while the second semester allows students to pick electives. As expected, most of the programmes kick off in August and September, with the noticeable exceptions being Queens and Schulich (January) and Ivey (March). Cost-wise, tuition fees vary from province to province, with an average of roughly 80,000

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CAD for most programmes. Rotman offers one of the more premium-priced MBAs with a fee of 105,000 USD, while some schools in Quebec charge considerably less (HEC Montreal and Concordia). As with almost all higher education degrees around the world, tuition fees become much steeper depending on nationality, with preference given to home students. Sometimes that difference can add up to 25,000 USD more for international students. Still, especially with the exchange rate of the Canadian dollar, an MBA in Canada is a much, much cheaper deal than one in the US. For example, an MBA at McGill, a highly respected school in its own right, will cost around 60,000 USD over two years, which is approximately 40,000 USD less than a school of the same calibre in the US. Despite a disappointing 2013 and 2014, which saw oil prices plummet to unprecedented lows, Canada maintains a powerful economy, levitating around the world’s number 10 spot in terms of nominal GDP and GDP per capita. Canada’s immediate proximity to its dominant neighbour to the south makes it the USA’s largest trading partner. That’s no small feat in itself. But as the weak Canadian dollar

supports even stronger export growth, the national economy is expected to expand by 2% in 2016-2018, according to The Economist’s Intelligence Unit. Being cheaper both in terms of tuition fees and living expenses, and with an easily obtainable work permit, Canada has a lot of promise. The MBA opens the door to a three-year work permit, and after gaining some work experience in the country, a graduate could easily apply for permanent residence and ultimately get Canadian citizenship within 4-6 years of graduation. This should not be underestimated. And yet, after all is said and done, a decision to study abroad should not be based solely on cold-blooded calculations. Crucially, Canada should not be viewed as a cheaper alternative to the US, but as a meaningful destination with its own unique culture, business opportunities and bold career paths. A mari usque ad mare, Canada is a welcoming nation that will test your ambition and reward you for your perseverance. □ A.Z.

MBA SELECTION

The British Legacy The UK’s traditions in business and finance make it a prime location for MBA

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hat’s the first thing you imagine when hearing the word ‘UK’? London? Big Ben? Five o’clock tea with the Queen or with Benedict Cumberbatch? Hamlet? Indeed, the UK has many faces. And one of its most recognisable worldwide is the silhouette of the Gherkin as the symbol of the City of London, which has been the world’s primary business centre since the 19th century. This fame, plus the fact that English is the most widely spoken language worldwide and that the UK’s strategic location and politics make it a gateway between Europe and America, has led to a tight concentration of businesses from all kinds of industries. All these, in turn, have helped the positioning of the UK in general, and London in particular, to become a primary educational destination at the top of the list for leaders in business education for many decades. Many UK schools offer top quality, worldrenowned MBA programmes. And proof of that is the fact that UK-based business schools are usually among the top 100 in rankings of respectable business magazines such as the Financial Times, the Economist and Bloomberg Businessweek. According to the latest data from UK-based accreditation agency, the Association of MBAs (AMBA), 43 UK schools have been accredited by the agency. And, as of September 2015, 20 UK-based schools have received a triple accreditation from

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the most sought-after international accreditations: AACSB, AMBA and EQUIS. According to the Financial Times Global MBA Ranking for 2016, two UK-based schools are among the first 10 b-schools worldwide – with London Business School (LBS) taking the third place and University of Cambridge’s Judge School of Business occupying the 10th place in the ranking. As a matter of fact, UK business schools prove the saying that an MBA at a top business school is synonymous with a costly MBA. LBS’ MBA, which takes 15-21 months costs 70,800 GBP in 2016. And if you want to go for a shorter, 12-month programme this year, from Oxford or Cambridge, be ready to splash out 50,200 GBP or 49,000 GBP, respectively. The high cost is a major concern for many MBA aspirants. And those coming from countries outside the EU face additional difficulties such as visa requirements and regulations stipulating that they need to leave the country within three months of graduation if they don’t find a job. The good news is that most MBA graduates don’t have problems landing a job and it usually happens within three months of getting their diploma, especially in the City of London. That’s why the high cost of the programme shouldn’t be a concern as, in fact, MBA salaries easily pay for the expensive degree. And the figures, especially for the most expensive degrees, clearly prove this fact. According to the latest Financial Times MBA Ranking survey for 2016, 93% of

“Many UK schools offer top quality, world-renowned MBA programmes. And proof of that is the fact that UK-based business schools are usually among the top 100 in rankings of respectable business magazines.“

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London Business School MBAs graduates found a job three months after graduation and their average weighted salary three years after graduation was 154,150 USD. Eighty-two percent of graduates from the University of Oxford’s Said Business School found a post within three months of graduating and their average weighted salary three years later was 136,959 USD. Figures also show that 89% from University of Cambridge Judge Business School found a job three months after completing the degree and their average weighted salary three years after was 156,323 USD.

Is a top school the only choice? However, the question remains as to whether getting an MBA diploma in the UK has to be expensive. The good news is that it’s not only LBS, Oxford or Cambridge where you can get an MBA. There is a wide variety of small and private colleges, especially around London,

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which offer low-cost MBA programmes to international students and many of these colleges have university affiliated MBA degree programmes. Tuition fees at these schools are 10,000- 15,000 GBP on average. The programmes are cheaper, shorter in length at 12 - 18 months; students can work up to 20 hours per week during their studies to support themselves; and the MBA is obtained in globally respected universities. The list of b-schools offering relatively inexpensive MBAs include Anglia Ruskin University, University of East London, Coventry University, Leeds Beckett University and many others. An MBA course from one of the above schools is affordable and a good choice, particularly because of their proximity to London. Why is being in London so important? Because of the city’s uniqueness. London is a cosmopolitan, multicultural city bringing people and businesses together across different nationalities, regions, religions and cultures from all over the globe. LBS expresses it

well: “London is a cultural and financial hub, with 99% of the Earth’s business activity. Every leading financial institution on the planet is there, as are a third of the world’s largest companies, and a quarter of businesses based there are foreign-owned. The city is a shining beacon for the creative, technology, media and telecoms industries where new, flexible organisations can make an immediate impact.” London motivates, entertains and surprises. It has culture old and new, sport, nightlife, exciting cuisine, festivals and parks. On every level, London delivers.

Brexit However, it would be unfair not to mention the implications of the vote of the British public to leave the EU in what is now known as Brexit. Especially since London has voted to remain. The consequences of the referendum will be felt for months and perhaps years to come, and many would feel wary of committing to the UK, especially if they hold an EU passport.

“London is a cultural and financial hub, with 99% of the Earth’s business activity. Every leading financial institution on the planet is there, as are a third of the world’s largest companies, and a quarter of businesses based there are foreign-owned.

For the rest, things will not change much, since all the old rules would apply equally. In the short term, education in the UK will become more accessible in the wake of the Sterling’s devaluation. As long as Britain’s currency is down, tuition fees for nonBritish students will be smaller. However, nothing can be certain in the long run, or even in the medium. When and how will the Sterling rebound? Will there be an adjustment to the tuition fees to make up for the weak currency? And what will happen once the Pound stabilises, and the UK leaves the EU? Wouldn’t that mean that students from the EU who had previously been considered “home” applicants, would now have to pay higher tuition fees, the way that students from outside the EU do? At least the last question has a sensible answer. Unlike universities which offer classic Master’s degrees, business schools do not differentiate between “home” and “away” students. This means that tuition fees are the same for a British, EU and non-EU students. That should serve as a consolation at least for now.

The value of the British MBA But back to London. Of course, the capital is important, but even more so is the City of London. The City, which many future business professionals dream of, has been a world primary business centre for centuries, attracting businesses from all over the globe. Seventy-five percent of

the top 500 global companies are based there; 100% of leading financial institutions and 264 foreign banks have offices there; 1,000+ tech start-ups are formed every month and it represents 37% of the global foreign exchange market and 80% of world’s metal trading. Naturally, recruiters’ demand for professionals with top-quality education has always been high. The list of recruiters in the hunt for MBAs in the City of London is very long and it includes companies from various business sectors, ranging from banking, accounting and financial services to hedge funds and private equity, investment services and all type of consultancies. To name a few – HSBC, Goldman Sachs, McKinsey & Co, British American Tobacco, KPMG, Ernst & Young, Deloitte Touche Tohmatsu, PricewaterhouseCoopers, Deutsche Bank, etc. An MBA from a UK school isn’t only the key to a career in the City, of course. An MBA from a UK school opens doors to a career around the world, especially within businesses with a global outreach and international exposure, whether Silicon Valley start-ups or other businesses striving for fast growth. Ranked highly for its quality, due to the strong traditions in the British business education sector, a UK-based MBA is a “game changer”. The success rate of British MBA graduates over the decades is a testament to that. □ I.D-S. ACCESS MBA GUIDE 2016-2017

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MBA SELECTION

The Asian Giant China has established itself as the MBA hub of East Asia

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hoosing a Chinese MBA means following an accredited curriculum, taught by experienced professors from all around the world; there are even six Chinese universities that are triple-accredited from the three largest and most influential accreditation associations – AACSB, AMBA and EQUIS. The rapid growth in global trade and investment, and the interchange of products, ideas and cultures have changed the world for good and have opened a whole new range of possibilities for development and growth. The Far East, previously known as a mysterious and exotic place, has transitioned – and with a bang! – to what is now collectively known as East Asia, a hustling and bustling whirlwind of manufacturing, commerce and trade; the place you need to be if you want to be global and reach new markets. Long gone are the days where ‘Made in China’ signalled cheap goods of poor quality. As the second largest economy in the world, China attracts an increasing number of professional visitors every year and worldwide businesses are increasingly recognising people with capabilities and experience on the Asian market. Understanding Asian culture provides an undeniable and much-needed edge in a highly competitive job environment.

The Chinese MBA USP It comes as no surprise that Chinese MBA programmes are also on the rise. Usually pursued for their quality of education and development of critical business and

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leadership skills, MBA programmes also give you the ability to meet like-minded business professionals from various backgrounds and form and nourish valuable connections, forming better insight into cultural specifics – which is what makes MBA degrees offered by Chinese business schools so special. They make the MBA relevant to the region, and place knowledge and future career development in the context of Greater China, while still following world-class accredited business curricula. Despite being relatively new on the market, the quality of the education offered by schools in China has become widely recognised. In the Financial Times’ 2016 business schools ranking, China has seven schools in the top 100, with three of them - Hong Kong University of Science and Technology Business School (HKUST), Ceibs and The Chinese University of Hong Kong Business School (CUHK) - in the top 30. HKUST ranks as high as number 15. Chinese universities have well-established connections around the world and also offer dual or triple degrees – Ceibs, for example, collaborates with Cardiff University, and HKUST has exchange partners in Canada, the US, Australia, Latin America, Africa and Europe, allowing you to spend one semester of their 16-month programme abroad.

Crunching the numbers Students can also choose an accelerated MBA degree, obtained in 12 months, which will still allow you to benefit from interacting with the foreign exchange students, but will minimise opportunity

“As the second largest economy in the world, China attracts an increasing number of professional visitors every year and worldwide businesses are increasingly recognising people with capabilities and experience on the Asian market.“

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costs and time away from work, a critical aspect in the hectic Asian lifestyle. But rest assured, there will be international collaboration – 50% to 90% of the students in MBA programmes come from outside of China, Hong Kong and Taiwan, and on average they represent around 30 nationalities. To be admitted, a student needs at least two years of professional experience and a Bachelor’s degree, as well as a satisfactory GMAT score and English proficiency. Tuition fees range between 50,000 USD and 70,000 USD on average and, depending on the school’s location, your expected budget should include up to 30,000 USD more to cover accommodation, expenses and field trips. Chinese business schools teach the most advanced and renowned international business theories, but do place great importance on their practical application

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in China itself and they ensure that graduates are well equipped to handle the most challenging aspects of the Chinese marketplace. Only about 30% of classroom time is dedicated to lecturing, while most of the learning occurs from working on business case analyses, seminars, discussions and presentations. Cases used in lectures come from top universities, such as Harvard, but are also developed based on specific local challenges, which gives students a greater insight into how business is being done in the region.

Curriculum and careers While all material is taught in English, some schools, such as Ceibs, require a basic knowledge of Chinese, offering a mandatory module before the MBA studies begin. Others, such as HKUST, offer basic Mandarin training free of charge for the first portion of studies, as well as total language immersion programmes throughout.

Specifically designed modules on Chinese history and culture allow students to analyse and discuss the past and current status of China’s trade and international relations. Field trips and organised sessions with local business representatives further improve students’ understanding of the culture and provide a valuable opportunity for networking and building connections. MBA graduates develop a distinctive edge in the unique Chinese business environment – a good understanding of both Western management principles, as well as local Chinese culture and social issues. Employers are willing to pay a premium for such talent. In the 2015 FT MBA ranking, Chinese schools outperformed all others in terms of pay increase, with their graduates reaching an average of between 140% and 160%. It is not just the acquisition of specific knowledge but, more importantly,

“There is rapid growth in many sectors, such as finance, healthcare and consumer goods, as well as many emerging industries in great need of managerial talent.”

getting a true taste of life in China that helps graduates thrive after completing their studies. Understanding the Chinese business environment and interacting with locals, and experiencing the complexities of Chinese culture, the people’s thought processes, outlook- and problem-solving methods allow MBA graduates to be successful in their careers, both in China and back home. Around 80% of graduates remain in the region after completing their degree, and the majority of graduates who return home remain deeply connected with Asia as overseas representatives of Chinese companies and conglomerates.

While the job market is highly competitive, MBA studies equip you with great flexibility to target different jobs, as well as with the ability to apply for various internships and traineeships, not to mention building the personal connections and relationships that can help you get your foot in the door. There is rapid growth in many sectors, such as finance, healthcare and consumer goods, as well as many emerging industries in great need of managerial talent. For many of these fields, Mandarin is not required, but a level of command as well as strong cultural sensitivity and understanding are definitely a plus.

A challenge worth taking

If you are genuinely interested in Chinese culture, trade and business, and moving to East Asia to pursue a career sounds exciting and promising, a Chinese-offered MBA is just what you need – but be prepared to be equal parts amazed and frustrated. There are many challenges – the language barrier and cultural specifics, to name just two. If you are set on overcoming these, however, it could be the experience of a lifetime, which will open a whole new world of possibilities for you. □ E.V

There are several bustling cities where you can start your MBA search, to make sure you are in the centre of everything that is happening. Shanghai, the financial and commercial centre of mainland China, is one of the fastest developing cities in the world. Apart from also being a financial centre, Hong Kong is the international business hub for Asian companies, not only from China, but also from Korea and Japan.

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MBA INTERVIEW

From Bogota to L.A. One brave woman’s story of triumph against the odds

How did you decide to study at UCLA Anderson?

Career Teams (ACT) and Interview Prep Teams (IPT), I was able to receive help from my peers and together, we successfully completed the recruiting process.

It was a joint decision with my husband as we both completed the MBA program together. Because it was such a big investment for us, we were looking to experience the best two years of our lives at a top university. UCLA Anderson offered everything we were looking for. First, I was looking for a school with excellent career services and close relationships with top companies. I wanted access to resources that would help place me at my dream company. The Parker Career Management Center at UCLA Anderson is one of the top five career centers in the US, and I was very excited to take advantage of their services during my two years of study. In addition, I was looking for a collaborative, yet competitive culture. Before even stepping foot on campus, I felt a sense of community and fit; this did not happen with other universities that I had initially expressed interest in. I wanted to be happy and surrounded by a strong network and goodhearted people. At UCLA Anderson, I found a second family. Finally, I wanted to experience life in Los Angeles. LA not only has perfect weather and serves as the entertainment capital of the world, but its position to Silicon Valley and emerging tech scene in Santa Monica enabled me to expand my network with various companies. As an international student, the language barrier and cultural difference can often be a challenge. I thought I spoke English very well until I started the program and began to prepare for interviews. It was difficult

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How do you believe that the MBA has helped/will help you achieve your career goals?

Daniela Castillo Contreras

UCLA Anderson, Full-time MBA Graduate, Class of 2016 Daniela Castillo Contreras is from Bogotá, Colombia. She completed her undergraduate studies at Columbus State University where she received a full scholarship to compete on their Division II tennis team. Prior to her MBA, Daniela served as a marketing analyst at a top retail bank in her home country. After graduating from UCLA Anderson, she joined Visa as a Client Consulting Manager in their San Francisco, CA office.

to compete with others in the recruiting process as I struggled to convey my message in a different language. However, with UCLA Anderson’s collaborative culture, Anderson

The MBA has been extremely helpful in reaching my career aspirations. Not only did it help me pivot from a marketing to consulting role, but it accelerated my career and opened doors that I could have never had access to otherwise. Academically, the MBA provided a well-rounded general management foundation that allowed me to learn different areas of business while developing my managerial skills. For example, I took strong data analytics courses that helped me better analyze and present to senior managers and executives. In today’s workplace, these very skills are sought after by companies regardless of industry. Because of the MBA and the school’s corporate relations, I was able to secure my dream job at my dream company. I would have never been able to transition industries and functional areas without the MBA or the network that it provided me. I am thankful to have successfully reached my goals, and I am convinced that the MBA marks the beginning of a new and exciting career journey.

Did you have a chance to apply some of the things you learned in the classroom during your internship at Visa? Absolutely! Coming from a marketing background, I had no prior experience in the world of consulting, and it felt

“Coming from a marketing background, I had no prior experience in the world of consulting, and it felt intimidating at first. However, many of the core classes and elective options prepared me well for this new venture at Visa.”

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intimidating at first. However, many of the core classes and elective options prepared me well for this new venture at Visa. The strategy course was particularly helpful. I learned how to apply different frameworks to challenging cases and problems that many companies face. While analyzing cases with my classmates, I absorbed the concept of whiteboard and assumptions. This was exactly part of my responsibilities while at Visa, and I was confident to express my ideas without fear. Another course that was extremely helpful, especially as an international student, was business communications. This course pushed me outside my comfort zone and required me to present on various business ideas to classmates and faculty. It was a bit scary at first, but the class helped me gain confidence with public speaking in English. Another takeaway was building skills of persuasion, which were applied throughout my internship experience at Visa.

You were involved in several extracurricular activities. How did that help enhance your MBA experience?

The MBA experience would have not been as meaningful and memorable without my involvement in student organizations. My time as an MBA student consisted of balancing academics, recruiting, clubs and extracurricular activities. Managing it all was difficult at first, but I quickly learned how to prioritize and decide which

opportunities were best for me. I served in several leadership roles such as the Director of International Students for the High Tech Business Association (HTBA), the VP of Career Development for the Women’s Business Connection (WBC), and President for the Anderson Tennis Club. I loved getting to know different students, working in teams and organizing events on campus. For example, in my role with the WBC, I worked with a team of six firstyear students to spearhead specific events geared towards women at UCLA Anderson. With our busy schedules, it was difficult to manage, but we were able to lead several successful events throughout the year. My favorite event was a Career Mixer where Anderson women were able to network with top companies on campus. Seeing my fellow classmates obtain jobs through this event was a rewarding experience. The school’s culture of shared success resonated strongly with my own beliefs and as an alumna, I plan to remain engaged and help the UCLA Anderson community thrive in the workplace.

Do you feel satisfied with your investment in the MBA degree?

Yes! The Daniela who came from Colombia two years ago is so different from who I am today. I grew as a woman, personally and professionally during my time in the MBA program. This experience was by far the best two years of my life and my return on investment has been extremely positive

thus far. I gained business knowledge from a top-tier institution, secured a great job and made everlasting friendships. To pursue the MBA at UCLA Anderson was the best decision I could have made and I would not change this experience for anything!

What would your advice to future students be? In your opinion, how important is it to graduate from a prestigious school?

You are going to love the MBA experience. Prepare, work hard, and select a university and program that fits your personality and career interests. My advice to you is not to worry about the high cost of an MBA because it is an investment. There are opportunities for potential merit fellowships, research/ teaching assistantships and loan options. If students loans are needed, don’t worry, you will be able to pay them off with your post-MBA job! The MBA experience will certainly vary depending on the institution you choose to attend, and in my opinion, a prestigious university can enrich your overall experience. You will have access to top faculty, a quality education, strong career services and exposure to world’s best companies. However, don’t only consider rankings. Before accepting an offer, visit the school, get to know their culture, interact with current students and alumni because fit is just as important. □ A.Z.

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Can business education give birth to a new generation of ethical managers?

MBA SPOTLIGHT

Hippocratic Business

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hen times get rough, the topic of ethics resurfaces. Not too many people questioned the moral behaviour of financiers until the economy collapsed in 2008. In the wake of the crisis, however, the questions kept pouring out. Can markets be rational and efficient? Is it wise for business to be a moral-free zone? How do we combine short-term individual or company interest with long-term social well-being? Do managers need to take into account not just shareholders’ interests, but also stakeholders’? And how is this reflected in business education itself? It needed the economy to hit an iceberg for these questions to be voiced loudly. And since they are philosophical ones, and the MBA belongs to the economic sciences, it didn’t exactly have the proper tools to deal with them when they emerged. In fact, this all started many decades ago, when academic subjects became more specialised and the economic sciences slowly started to become divorced from the humanities. It wasn’t until the dire consequences of the crisis were felt that some of the downfalls of the breakup became painfully apparent. Speaking of ethics in business, when the economy and markets seemed to work just fine, looked a bit naïve, if not heretical. After all, the markets could take care of it all, right? Wrong! In 2008, when the financial system was rescued largely by public funding, it became clear that there was something fundamentally incorrect in this understanding of how the world worked. So, for the MBA, it was an appropriate time to emphasise the importance of ethics and to reintroduce history of the economy, psychology and behavioural economics into the business schools’ curricula. It could have been different if the MBA hadn’t been viewed by the gatekeepers

of Wall Street and the City of London as an ultimate pass to the league of the “masters of the world”. But, in fact, it was. The MBA suffered a reputational blow despite the fact that crises of comparable magnitudes had happened in the past - even when the world of finance was full of people with literature and history degrees.

A hunger for change A survey by AMBA and Durham Business School from December 2009 asked 500 graduates about ethical aspects and the MBA. It found out that, according to 80% of the interviewees, ethics and corporate social responsibility needed to play a more significant role in business education. And an overwhelming majority of the 100 business schools polled said that the actions of organisations had to be based on corporate social responsibility. One of the most notable expressions of the expected change in business education was the so-called “MBA oath”. Started as an initiative of Harvard Business School’s students from the Class of 2009, the manager’s equivalent of the Hippocratic Oath quickly gained support among reputable business schools. It was an acknowledgement that the actions of managers affect society way beyond the companies they are running. It was also an attempt to introduce ethical standards in the profession. The MBA oath makes an interesting read as a testimony of the times. What it shows is an idealism highly atypical of periods in which business is going on as usual:

“As a business leader, I recognise my role in society. My purpose is to lead people and manage resources to create value that no single individual can create alone.”

“As a business leader, I recognise my role in society. My purpose is to lead people and manage resources to create value that no single individual can create alone. My decisions affect the wellbeing of individuals inside and outside my enterprise, today and tomorrow. Therefore, I promise that: I will manage my enterprise with loyalty and care, and will not advance my personal interests at the expense of my enterprise or society. ACCESS MBA GUIDE 2016-2017

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had constructed over the years. In an article for the Guardian, they describe it as “a Kafkaesque world in which proposed reforms are rejected because they are redundant, as economics already has tools to analyse “everything”. At the same time, if reforms involve issues that the existing theories cannot explain well, they are rejected because they would take the curriculum outside the domain of economics. Challenged, for example, to introduce to the economics syllabus the study of the actual behaviour of traders in financial markets, academics defending the status quo reply that, first, their models can already capture the behaviour of “rational” traders, and second, the descriptive study of the actual behaviour of traders is a subject for sociologists, historians or psychologists.” To illustrate the discrepancy between the academic and the real world, Ha-Joon Chang and Jonathan Aldred gave as an example the answer of professors to their students in Norway, who asked them to study real economies: “Our task is to give you an analytical framework; you have the rest of your lives to learn about current affairs.”

More open to other disciplines

I will understand and uphold, in letter and spirit, the laws and contracts governing my conduct and that of my enterprise. I will refrain from corruption, unfair competition, or business practices harmful to society. I will protect the human rights and dignity of all people affected by my enterprise, and I will oppose discrimination and exploitation. I will protect the right of future generations to advance their standard of living and enjoy a healthy planet. I will report the performance and risks of my enterprise accurately and honestly. I will invest in developing myself and others, helping the management profession continue to advance and create sustainable and inclusive prosperity. In exercising my professional duties according to these principles, I recognise that my behaviour must set an example of integrity, eliciting trust and esteem from those I serve. I will remain accountable to

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my peers and to society for my actions and for upholding these standards. This oath I make freely, and upon my honour.”

Does the rising tide lift all boats? Other initiatives in this spirit, such as the think tank Institute for New Economic Thinking and International Student Initiative for Pluralist Economics, have also created ripples on the once calm business education surface. However, especially after the success of the Thomas Picketty book “Capital in the 21st century”, many observers feel that the change in the economic sciences has not gone deep enough. The two renowned Cambridge academics Ha-Joon Chang and Jonathan Aldred explain the resistance to change with the specific reality mainstream economists

It is exactly the need for the MBA to become more holistic, to ask more questions and to include more psychology, history, even philosophy, that presents the big challenge in preparing the business leaders of tomorrow. The financial crisis was just one of the aspects of the need for transformation. Climate change was also a huge deal-breaker. The world is changing and so should we change our knowledge and the approach to managing resources be they natural, financial, human, or other. And even if there is little debate that ethical content should be reinforced in the MBA curriculum, opinions still differ on how exactly this should be done: “Business schools are starting to recognise that ethics can’t be cordoned off from the rest of a business student’s education”, wrote Ray Fisman from Boston University and Adam Galinsky from the Kellog School of Management in a 2012 article for Slate. “The most promising approach, in our view, doesn’t even try to give students a deeper personal sense of mission or social purpose – it’s likely that no amount of indoctrination could have kept Jeff Skilling

from blowing up Enron. Instead, it helps students to appreciate the unconscious ethical lapses that we commit every day without even realising it and to think about how to minimise them”. Strengthening the ethical aspects of business education is clearly needed, as the MBA gets criticised too often when a scandal in the business world breaks out. The last example was the Volkswagen emissions. “I don’t want to blame business schools for the reality; I just think that they play a role in exacerbating it when they

could perhaps play a much better role in minimising it”, the Emory University ethicist Edward Queen explained for Poets and Quants at the end of 2015. Joint research by two professors from Copenhagen Business School and the University of Hamburg showed that, between 2005 and 2009, accredited B-schools doubled the number of ethics-related courses. However, the website informs us that 75% of these were electives. How being ethical can coexist with the sometimes harsh realities of the business

world is a question with an open ending. It is exactly in combining the contradictions between creating value and creating a sustainable economy that the secret of good leadership lies. Finding the right balance is needed to streamline and facilitate the change from the shareholders’ perspective to the stakeholders’ perspective. A much needed change that has already been embraced by many CEOs and companies. It is a reform in the substance, not just a PR move. What good business schools did is to foresee this coming trend, rather than just to follow suit from the industry. □ D.G.

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MBA SPOTLIGHT

Transatlantic Origins: History of the European MBA Europe has quickly picked up on an American trend and has developed an MBA trademark of its own

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t is common knowledge that MBAs came into existence in one of America’s most prestigious universities. The MBA programme was established at the Harvard University Graduate School of Administration in 1908. At that time, the now grand institution, had only 15 faculty members and a regular class of 33 students. The Graduate School of Business Administration required students to complete four years of undergraduate studies before applying to the business programme. Other universities soon began to adopt that policy. Harvard was the trendsetter and a champion of business administration – an example worth emulating, and one that became the foundation of the European MBA.

History of the MBA The concept of placing business management on the same level as medicine or law wasn’t well received in the early 20th century. But as corporations grew, there became a need for skilled management professionals, and colleges and universities started their own business schools. Educators realised that business schools had to provide formal education to prepare students for leadership positions. Core courses included accounting, business strategy, economics, finance, manufacturing and production and were designed to provide students with basic concepts of business

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which must be mastered before delving into specialisations. However, at the dawn of the MBA era, programmes were lacking in vigour as they failed to train students in the essential knack of successfully managing a business and communicating properly and to the benefit of the company. Indeed, two damning reports appeared in 1959, condemning American graduate management education as little more than vocational colleges filled with secondrate students taught by second-rate professors who did not understand their fields, did little research and were out of touch with business. Thus at the end of the 1950s US colleges and universities restructured their business programmes to be more comprehensive, and to provide programmes somewhat similar to those of today’s B-schools. This resulted in the creation of the classic American MBA model: a first year of required core courses to provide the basics of management and a second year of electives to allow specialisation or deeper study.

Europe enters the MBA game It was at this time that interest in management education appeared in Europe. The first genuinely European MBA programme that took the American idea of setting up a B-school, but was not an exact replica, was founded in France, at INSEAD. In 1957, the Fontainebleau-based institution launched an MBA programme which offered comprehensive training in all of the necessary hard skills, but was also geared towards business conditions in Europe and the need for apt company

management. One curious fact is that the founder of the INSEAD MBA Programme was a Harvard professor – Georges Frederic Doriot. But his case was not exactly one of leaking information to the enemy. Doriot was an expatriate, originally born and raised in Paris, France. He had immigrated to the US to gain his MBA degree from the only institution that offered it at the time. He decided to stay on, becoming a professor at the Harvard Business School in 1926 and gaining US citizenship in 1940. Seventeen years after his US residence was made official, Doriot, who had also gained the title of ‘father of venture capitalism’, returned to his home country and founded the INSEAD MBA programme. From its very launch the programme boasted academic excellence and a curriculum that provided effective education that secured a competitive edge for its graduates. The first class graduated in 1960 and consisted of a total of 60 students from 14 different countries.

which side of the Atlantic to go to, has never been so multi-layered.

INSEAD was not in a league of its own in Europe. IMD in Switzerland, the Henley Business School at the University of Reading and Ashridge Business School were all started by groups of companies to provide training and were dedicated to the idea of creating managers with more diverse skills. Whilst European business schools can’t boast the lengthy history of their American counterparts, their popularity and prestige is certainly rising, and some are undoubtedly amongst the best in the world, such as the London Business School (LBS), IMD, INSEAD, IESE and IE.

Another important difference is that European schools have a significantly higher percentage of non-national students and faculty members than their American counterparts. At the top business schools in the United States - Wharton, Columbia and Harvard - roughly 33% to 45% of students come from abroad. That figure is close to 90% at some of Europe’s top-ranked business schools, such as LBS and INSEAD. A survey of the proportion of overseas faculty members at those schools reveals a similar trend.

Dissecting the differences It is not a question of which MBA, American or European, is better or worse. It’s a matter of making an educated choice. But with nearly 500 MBA programmes in Europe and over 700 in the United States, the choice of

One major asset that the European degree has flaunted from its very inception is that it offers ‘fast-track’ training squeezed into 10-12 months compared to the same volume American institutions would teach in two years. Time has always been a factor with business people, hence a shorter programme can appeal to those who want to go back to their real-life career as quickly as possible. “Ten months is an adequate amount of time to get hard skills and leadership skills without having to necessarily completely rethink your career trajectory,” says 28-yearold Belinda Navi, an MBA graduate from INSEAD. Ms. Navi plans to return to the videogame industry after the business school’s 10-month programme, and hopes to vault from a business-development role into management.

“One major asset that the European degree has flaunted from its very inception is that it offers ‘fast-track’ training squeezed in to 10-12 months compared to the same volume American institutions would teach in two years.”

Moreover, European B-schools are becoming increasingly globalised, with most of the top European MBA programmes offering studies at one of their campuses abroad – for example, HEC Paris boasts a Qatar programme while INSEAD has gained an even greater popularity with its two-campus structure – one in Europe (Paris) and another in Asia (Singapore). ACCESS MBA GUIDE 2016-2017

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Though the MBA is one of the degrees with a proven ROI, money can be an issue as the investment is substantial. Tuition and fees for elite American MBA programmes can top 200,000 USD; selective European programmes typically cost half as much. And there have been considerable price reductions in recent years, too. At London Business School, for example, the tuition cost for a student starting a two-year MBA programme this August totals 67,750 GBP, or 103,895 USD. A year ago, it would have cost about 10,000USD more, or 113,892 USD, and 10 years ago, the same tuition would have been 123,603 USD. Reasonable tuition costs – about 30,000 USD – helped Patrick Lowry, a 26-year-old

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University of Delaware graduate, decide on the 15-month MBA programme at the Frankfurt School of Finance & Management. “That’s less than half of anything I would pay for a respectable programme in the US,” he says. Besides, studying abroad and choosing from one of a multitude of European MBA programmes, will offer immersion in a completely different culture and pave the way for the development of additional soft skills, such as adaptability and flexibility, that could be a considerable advantage in the business world. Furthermore, doing an MBA abroad is arguably the best-possible introduction to the business landscape in that country. And most would agree that

taking up the challenge of studying abroad can be not only financially rewarding, but personally rewarding too. Of course, the idea of Europe, with its rich cultural and historic background, its intricately interconnected economies and governments, and its diverging liberal models on social and economic issues, can offer much more than just business education. Europe embodies diversity in all of its forms. Especially now that the continent faces so many challenges. And that is perhaps the European MBA’s most intriguing premise. Europeans are aware of this. But for someone outside the Old Continent, the “European Ideal” must be experienced to be understood. □ E.I.

MBA SPOTLIGHT

Terra Scandinavia Exploring the uniqueness of Scandinavian business education

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ustainability, a high standard of life and high-tech society influence the way MBA programmes are taught in Scandinavian countries.

is worth examining. Of course, the business atmosphere can hardly be separated from the social and other stimuli provided by the state, the overall business-friendly climate and the excellent social infrastructure.

With income inequality and economic inequity becoming increasingly acute problems throughout the developed world, the success of the Scandinavian economies is extremely topical. The Nobel Prize winner Joseph Stiglitz believes that American policy makers must use their model to achieve more balanced growth. The US presidential candidate Bernie Sanders talks in even more straightforward terms: “We should look to countries like Denmark, like Sweden and Norway, and learn from what they have accomplished for their working people”.

In a 2013 article, The Economist painted a thorough picture: “Governments are forced to operate in the harsh light of day: Sweden gives everyone access to official records. Politicians are vilified if they get off their bicycles and into official limousines. The home of Skype and Spotify is also a leader in e-government: you can pay your taxes with an SMS message.”

The economy in a mirror So, what is the secret of these countries’ triumph? Not everybody sees the role of the state as the main reason for their success. Nima Sanandaji, a research fellow at the Centre for Policy Studies, for example, suggests for Fortune magazine that it is their culture, rather than wealth redistribution, that has contributed the most. Sanandaji comments that from 1870 through 1936, Sweden was the fastest growing economy worldwide. Then, she adds, after 1975 - when the state began expanding - it fell from the 4th richest country in the world to the 14th by the middle of the ‘90s. However controversial this opinion may sound, the way Scandinavians do business

And the economic magazine continued: “This may sound like enhanced Thatcherism, but the Nordics also offer something for the progressive left by proving that it is possible to combine competitive capitalism with a large state: they employ 30% of their workforce in the public sector, compared with an OECD average of 15%. They are stout free-traders who resist the temptation to intervene even to protect iconic companies: Sweden let Saab go bankrupt and Volvo is now owned by China’s Geely. But they also focus on the long term - most obviously through Norway’s $600 billion USD sovereign-wealth fund - and they look for ways to temper capitalism’s harsher effects. Denmark, for instance, has a system of “flexicurity” that makes it easier for employers to sack people but provides support and training for the unemployed, and Finland organises venture-capital networks.” All these thriving, sometimes contradictory dynamics have created some of the most competitive and innovative economies ACCESS MBA GUIDE 2016-2017

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in the world. The citizens enjoy a high standard of living, pay notoriously high taxes, but also get a lot in return from the state, and the social, educational and healthcare systems. The corporate taxes are kept at reasonable levels to keep capital from flowing abroad. Being a business pioneer in the globalised world and yet providing the necessary protective social nets for the population is a combination few countries have mastered more skilfully than the Scandinavians. And the results stand out. Especially in the last years of anaemic growth throughout most of the developed world. The three Scandinavian states - Sweden, Norway and Denmark - are respectively the 9th, 11th and 12th most competitive countries in the world, according to the 2015-2016 Global Competitiveness Report. The data is compiled by the World Economic Forum at Davos. The survey claims that, in Sweden and Norway, the most problematic factor for doing business is the restrictive labour regulations, whereas in Denmark it is the tax rates. Conversely, these features, if functioning correctly, most probably make the labour unions reasonably content and the social policies efficient, albeit expensive.

Business education It is logical that such strong economies would host reputable business schools. But what makes the Scandinavian MBA a distinctive and special case? The triple accredited Copenhagen Business School launched its Executive MBA in 1994, and its standard full-time MBA made its début in 2004. “We were latecomers to the MBA market, as we already had a successful product in our HD programmes, which were in high demand nationally,” declared the former president of CBS, Finn Junge, and former director of CBS Executive MBA, Claus Valentiner, in a joint speech. “With an MBA, we wanted to establish ourselves on the international scene by offering a globally recognised degree.” What many alumni value, apart from the education itself, are the networking events the school organises in an effort to keep former students in touch. “What I really appreciate about being part of the CBS MBA network is the back-to-classroom events,” comments the American Ada Stein, who received his MBA degree in 2007. “They allow me to constantly refresh my MBA

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skillset and encourage me to think about the big picture instead of just focusing on my day-to-day work responsibilities.” For Gerard de Bourbon Ponce de Leon, Global Accounts Manager at Verizon Enterprise Solutions and a graduate of the Stockholm School of Economics, it is the more cooperative form of learning in his Swedish MBA that made the difference: “The SSE MBA was very different from, for example, my studies at Harvard, which was very competitive and where people only cared about themselves. The SSE MBA was an altogether different experience with a more collaborative group dynamic.” There is no doubt that an MBA is a degree about global business, but this is the special hallmark of Scandinavian culture on the degree. Cooperation and solidarity are so much more than theoretical ideals. They can also be ways of doing business. Gerard de Bourbon Ponce de Leon decided to study an MBA despite also being at a stage where he had already achieved a lot. For him, life-long learning is more than an abstract concept: “I have a degree in physics and mathematics, and a successful career in the financial and IT/telecoms industries. Still, I believe you should revisit learning every five years or so throughout your life.

You need to reopen your mind, which gets closed up as you get stuck doing things in a certain way and addressing challenges in the same fashion as you have always done. We develop a certain format in how we process things and solve problems. An MBA at SSE opens your mind”, he says. Another student who has an interesting story to share is Katti Hoflin, director of the Dunker’s Cultural Centre at Helsingborg. She also had a versatile career when she started her MBA at the Stockholm School of Economics. At the time, prior to going back to school, she was a television host and manager at the Stockholm Cultural Centre. What were her motives for doing her MBA? “Having studied literature, theatre and philosophy, I felt that my lack of a formal academic degree posed an obstacle on my way to new positions and challenges.” Her experience indicates that an MBA could be more than just a nexus between different professional fields - it could also link different skills: “I enjoy the cultural sector but after the SSE MBA I have become more open to working within a completely different sphere in the future. The business world, for example, has a lot to learn from the arts sector when it comes to creativity and innovation. Cultural and creative

enterprises make up a growing chunk of the economy in a post-modern world.” Katti has learned to benefit from mixing the specifics of the different professional fields from her background. This is one of the most interesting but sometimes challenging things, as it rarely appears in the textbooks: “If there is one sector that needs more rational and analytical thinking, it is the non-profit cultural sector, where decisions are too often based on subjective opinion rather than objective analysis. Public sector operations in the field of culture face a sometimes bewildering array of qualitative objectives, as well as the economic restraint that comes from the desire to reduce public expenses. I have found that a strict operations framework often frees up more creativity.”

Not just about the degree The MBA experience cannot be divorced from the country and the region within which it is based. All three Scandinavian capitals make the top 30 in the Mercer’s 2016 Quality of Living Rankings. Copenhagen is in 9th place, Stockholm 20th and Oslo 30th. The cultural allure, quality of life and innovative business landscape make Scandinavia a suitable place for attending business school. It may not be as popular an MBA destination as the Anglo-Saxon countries, but it is more than competitive, to say the least. So it is hardly a surprise that the interest in Scandinavian schools is high. Take BI Norwegian Business School in Oslo, Norway, for instance. It is one of the largest European business schools, with almost 20,000 students and 340 permanent faculty. Established in 1943, it has three additional campuses outside of Oslo Bergen, Trondheim and Stavanger. On top of this, its research faculty has 8 departments, with 26 research centres dedicated to

business administration, marketing, finance and general management. The school is considered to have made a huge contribution to Norway’s economy. It has educated over 200,000 graduates since 1983. While we can admire Scandinavian businesses, way of life and innovativeness, it would be wrong to think that these were constructed overnight. In fact some say that Sweden, Norway and Denmark discovered the key ingredient - the social state - relatively late. As Nathan Heller wrote in an article for the New Yorker: “Mary Wollstonecraft, visiting in the late eighteenth century, lamented “how far the Swedes are from having a just conception of rational equality,” and this continued to be a valid complaint for several years thereafter. Denmark only began offering a state benefits programme for elderly people in 1891. Norway launched insurance for industrial accidents a few years later.”

“What makes Sweden, Denmark and Norway so popular today is their special blend of a strong welfare state and a model of capitalism that is both flexible and sustainable.”

“Similar schemes proliferated in the early twentieth century, and by the postwar years the modern Nordic welfare state had its distinctive form. The model, crucially, interprets “welfare” to mean not just financial capacity but well-being. It might take into account that a woman forced to defer dreams of motherhood because of work, or vice versa, is hostage to her circumstances even if she’s able to pay her bills. And, rather than simply catch people on their way down, it aspires to minimise the causes of inequality - more climbing web than safety net.” What makes Sweden, Denmark and Norway so popular today is their special blend of a strong welfare state and a model of capitalism that is both flexible and sustainable. What this entails is more pragmatism and less ideology. It is precisely here that modern-day education steps in. □ D.G. ACCESS MBA GUIDE 2016-2017

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MBA TEACHING

What the MBA Taught me About Leadership (OP-ED) True leaders are distinguished by the intricate combination of key factors

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t is quite common these days to stumble upon a statement saying that we live in a world that is increasingly becoming globalised. It’s of no surprise to anyone that alongside this globalisation we have some quite dramatic changes happening in the leadership perspectives as well. MBA programmes – being the primary driver of fresh minds which are infused into the corporate world – align themselves with this dynamic in order to achieve their primary aim, namely to provide the necessary skills and abilities to become a successful leader. Oddly enough we are still in a situation where we have yet to specifically answer one question – What is leadership?

The academic answer

The scope of leadership can vary dramatically from social through political to business leadership and it is that diversity that has made the phenomenon so popular and the reason it gets so much attention. Coming back to business schools, it is fully within expectation that they spend so much effort building their programmes and curricula around leadership and leadership subtopics. Academic literature is kind enough to provide us with glimpses of many perspectives on leadership. The variety is abundant in those perspectives, but we should start with a rather simple one by Grint, who puts a fundament on what leadership could be perceived to be. He says that leadership could be seen as any given situation which provides grounds for having followers. This is acceptably true

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In 2010, Chatman and Kennedy concluded in their paper “Psychological Perspectives on Leadership” in a similar way that one can see leadership as the process of motivating people to complete tasks by collaborating in order to accomplish great results. Whatever anyone ever had to say about leadership, the one thing we are sure of as of today is what Grint suggested – no questions regarding the definitions of leadership can be answered in full outside of a particular context.

Stefan Kirilov is a young professional with 6 years of working experience. Currently, he is working as change manager at a multinational enterprise after taking a break from working life for a little over a year when he went to study an MBA degree in Sweden. While studying at Jönköping International Business School, Stefan was awarded a creativity award. He is enthusiastic about professional development and is usually involved in a variety of extra activities besides his main job. Stefan is interested in environmental protection and human rights.

for any practice of leadership and is by no means limited to leading a business venture specifically. In other words leadership could be understood as the art of inspiring and involving people – the art of creating the wish for dedication in others.

Looking at the theory of leadership, and assessing the lessons learned by many leaders along the way in their careers, allows us to juggle a little with the necessary traits which a leader should possess in order to be successful. Still, a boiled-down version would sit comfortably between three main aspects: Personal Traits, Interpersonal Relationships and Strategic Behaviour.

Personal traits

Individual characteristics are the roots of any given leadership style and they have a great impact on the decision-making capabilities of the person. They also play a significant role in outlining “Who is the true leader?” Coming back to what Grint said regarding the particular context where leadership is taking place, we discover that other authors have also made similar observations. For instance, when writing about soft and hard skills, Nye points out that contextual intelligence is an important leader’s trait to utilise both soft and hard power in leadership by smartly choosing the course of action depending on the context of the situation. Two good examples of

using hard and soft power in practice are General Electrics’s Jack Welch and his huge transformation of the corporation during very hard times, and the reinvention achieved once by Jan Carlzon, the CEO of Scandinavian Airlines, both examples based on changing the core values of the people who embodied those companies. Looking at these traits in isolation, however, is not the solution to the leadership dilemma. Other authors add to what has been started by their predecessors – for example, an open mind and being forthright in interactions seem to be traits praised by quite a few authors, including Schoemaker, Krupp and Howland, and Ireland and Hitt. The general idea they support is that those traits are important for leaders to be successful in leading the way, while staying open to the adoption of new practices and the consideration of uncommon factors in their decision making. Leaders are expected to have a very well developed self-awareness and capacity of knowledge and experience, in order to improvise in times of uncertainty and be resilient.

Interpersonal relationships

Undoubtedly, when we speak of capacity we need to involve the person-to-person factor, as it is crucial for the leadership means. Leaders need to interact with their surroundings, which means that interpersonal relationships are crucial to

maintaining the success of a leader. As noted earlier, the leader’s goal is influencing others and having followers, so then the only way leaders can connect to people is through the relationship they build with them, through communication and gaining trust. In order to create grounds for trust, leaders must be aware of their own emotions and must be able to overcome their own emotional bias, as this is the way to get in touch with the emotions of others. In other words, a leader is expected to be emotionally intelligent. Going back to the example of the CEO of Scandinavian Airlines, we see the marks of emotional intelligence in the way Carlzon was encouraging employees to be self-driven and comfortable in their surroundings, in order to stimulate their dedication to the company.

Strategic behaviour

The personal traits and the interpersonal relationships set out above are primary to support the “structure” of what could be seen as successful leadership behaviour. However in order for this fundament to be considered complete, the leader needs to have a more specific strategy on how to execute their plans. In 2013, Schoemaker, Krupp and Howland explained strategic leadership as the skill of the leader to create advantage through their own abilities to anticipate, challenge, interpret, decide, align and learn. This represents

a meaningful distribution of the aspects involved in strategic decision making. Leaders are defined by their ability to foresee and understand upcoming events, to challenge their own assumptions and those of others, to capture the essence of problems and to recognise patterns, to make decisions based on the short- and long-term goals, to find common ground with others and to develop themselves on the basis of experience and mistakes. In conclusion, leaders are expected to inspire commitment in the organisation’s community in order to encourage employees to develop and make use of their new knowledge. This is done through the application of both hard and soft power. The individual’s ability to anticipate, envision, remain flexible, think strategically and work with others to initiate changes capable of creating a viable future for the organisation is the essence of strategic leadership. By skilfully balancing the three aspects (personal traits, interpersonal relationships and strategic behaviour) the chances of becoming a successful leader grow significantly and thus they could be considered key elements in defining what leadership is. Of course, this is just the academic view on leadership, but I sincerely believe it is the foundation of any good leader. This is what the MBA taught me, and I promised myself to always follow it. □ S.K.

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MBA TEACHING

#Europreneurship Exploring the ways entrepreneurship is taught in European MBA programmes

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he United States, a land of opportunity that favours the brave, has long been perceived as the place to be if you want to start something on your own. It comes as no surprise then that it also takes the lead in entrepreneurship education. But Europe, despite being considered slower in risktaking, is surprisingly not lagging behind when it comes to studying entrepreneurship.

The European premise With three schools in the Financial Times (FT) Top 10, entrepreneurial education in Europe is steadily on the rise, and teaching entrepreneurship is now part of many business schools’ curricula. Many schools and universities, such as ESADE or IESE, have developed programmes to support students and alumni who are starting their own businesses.

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Even if you are not one of Europe’s rising numbers of independent professionals, companies are now placing even more emphasis on employees’ entrepreneurial skills and appreciate talent for seeking and developing fresh sources of revenue in tough economic times. That is why European entrepreneurship MBAs focus a great deal, not only on starting a business and obtaining capital and financing, but also on general management skills, business planning, strategy and innovation, and entrepreneurship within large companies, skills that alumni can apply not only as entrepreneurs, but also as intrapreneurs, managers in large corporations that still focus on turning ideas into profitable finished products. Due to its unique composition of numerous independent markets that are both relatively small yet powerful and interconnected, entrepreneurship education in Europe is not only focused on local markets, but also enables global thinking and the

pursuit of global opportunities. Many universities offer joint programmes, for example the French Emlyon Business School offers its Global Entrepreneurship Programme in partnership with the US Purdue University and Zejiang University in China. It is therefore useful that most entrepreneurship programmes in Europe encourage you to learn another foreign language to support your efforts, and will allow you the opportunity to fully immerse in another country’s environment for a project or specialisation. It is not just the schools in Europe that are focused on nourishing and developing entrepreneurial talent. Building and developing entrepreneurial spirit is even part of the European Commission’s 2020 strategy and is on the agenda of local governments in an effort to transform Europe into an innovation hub and encourage business creation. One of the main goals of European entrepreneurial education is not simply to provide

entrepreneurial know-how, but also to offer reasons why. A number of programmes across Europe begin entrepreneurship studies with ‘entrepreneurship backbone’. HEC Paris is especially well known for that. It comprises a balanced view of entrepreneurship, and the topics assess whether entrepreneurship is indeed for you. Specific issues are covered for high-tech startups, execution, business modelling, governance, how to network, intellectual property strategy, and entry strategy for new firms.

management practice courses and leadership seminars. And that’s where being in Europe makes a difference.

The skillset

Here are just a few examples of how different European business schools have been teaching entrepreneurship:

How do you, as a business owner, remove yourself from the day-to-day minutiae of your company to focus on growth strategies? How do you grow from “one man in a room” to a global player? How do you attract capital and maintain stable relationships with creditors over time? What is the psychology of managing people and businesses? And that of venture capitalists? Wherever you are in the world, you will need both soft and hard skills to achieve long-lasting entrepreneurial success. An MBA focused on entrepreneurship will help you explore growth stage startups and experience the difficulties they are facing scaling up. It will teach you networking, team working, leadership skills, creativity and flexibility in decision making. Given that you’ll have to take care of all aspects of business, you will have to understand strategy, finance, marketing, analytics and much more. You will be looking at things like managing growth, how to secure finance, social impact, market research and monetising innovation. Courses will be taught from the entrepreneur’s perspective and will be targeted to help students understand how value can be maximised for the entrepreneur. You will also come to understand, by necessity, the perspective of those who invest in new ventures: angel investors, venture capital and private equity.

Europe offers the unique economic environment of a prosperous yet diverse market base with a global reach and a wealth of experience to build upon. Schools on the Old Continent have begun offering a host of solutions to allow future business makers to test their skills, ideas and approaches in a safe environment where failing is not so painful.

At HEC Paris, teams of four to five participants come together to create highquality ventures in the context of the HEC eLab, an exclusive entrepreneurship lab equipped with state-of-the-art interactive technologies that stimulate creativity and communication. The venture moves forward from inception to business plan completion through hands-on exercises and challenges integrated into course work, as well as through tasks and deliverables, scheduled outside of regular courses. ESADE in Barcelona offers both an E-garage, a dedicated space for entrepreneurial students, providing them with resources and environment to start new ideas, and a business angels network, ESADEBAN, which is run by alumni. Rotterdam School of Business has an annual MBA Startup boot camp, so that teams can develop their initial ideas into credible business proposals.

Oxford Saïd, as well as many other business schools, organises regular forums to support budding entrepreneurs who wish to become immersed in all things entrepreneurial, from pursuing startup ideas to starting and scaling a business, and showcasing ideas to business angels and venture capitalists. Cambridge Judge School of Business (CJSB) offers the Cambridge Venture Project (CVP) which offers projects, providing consultancy for real clients, based locally in Cambridge or the rest of the UK. And then there is Spain, a whole country, which has been working hard to reinvent itself as the European hi-tech powerhouse, with the help of the country’s numerous business schools. The weGrow initiative from the IESE Entrepreneurship and Innovation Center, Passion>IE; the collaboration between IE Business School and Accenture; Spain Startup Coinvestment Fund and local administrative support such as the Business Plan Contest, Global Entrepreneurship Competition and the Growth Potential Business award, organised by Barcelona City Hall - the Spanish startup scene is more professional and ambitious than ever. With its diverse markets and strong support coming from governments and universities, Europe can be a great place to pursue an entrepreneurial MBA, with business schools seamlessly blending the traditionally strong academic education with practical, handson experience in nourishing ideas and transforming them into profitable ventures, capitalising on strong alumni support to minimise risks. □ E.V.

Practice and leadership Programmes will provide different tools to put learning into practice immediately. Business incubators, practical consulting projects, internship opportunities, reallife case solving contests, networking opportunities, venture projects, ACCESS MBA GUIDE 2016-2017

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MBA TEACHING

No Time for Full-Time Flexible learning MBA formats give you freedom

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or many contemporary managers the hectic nature of today’s corporate life means they often do not know where they are going to be from week to week. Geographical boundaries rarely exist as within just 24 hours managers often need to be on different continents managing their international businesses. Those who want to constantly upgrade their knowledge need an MBA programme allowing them to follow their own studies without facing the dilemma to work or to study. The response to this challenge is an MBA delivered in a flexible learning format.

Understanding the term In few words, flexible learning focuses on offering students choices about when, where and how they learn. Flexible learning is accessing education in a way that is responsive in pace, place and/or mode of delivery. Flexible learning meets the needs of a diverse range of students, enables part-time study that could be attractive for sponsors, allows students to combine work, study and family and enables students to develop skills and attributes to successfully adapt to change. Flexible learning formats include remote or online study, work-based learning, parttime, or blended learning. In recent years, flexible learning formats have gained popularity. Many business schools have started to adapt their programmes to the needs of busy professionals, developing virtual

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learning courses and adapting their teaching methods to cater to the busy schedules of contemporary managers. MBA programmes have become more and more flexible. The list of business schools that answered to the changing reality and started offering flexible learning MBAs, include IE Business School, Warwick Business School, Manchester Business School, and more. Delivering MBAs in a flexible format made b-schools very innovative regarding developing new teaching methods. Unlike traditional programmes where face-to-face classes and interaction is a key teaching method, virtual teaching is available through such a big variety of online resources – video conferencing, online classes, live HD quality video lectures, webinars, live chat sessions with tutors, mentors and classmates, online presentations, videos and reading materials, online libraries and e-journals, forums for networking and sharing ideas and experiences, special platforms

developed by schools particularly for the programmes, etc.

Online MBA Online MBAs are a form of a flexible learning for MBAs where classes are exclusively held online. Online MBAs allow attendees to keep their full-time jobs and flexibility to balance their study, job and family responsibilities. The format requires exceptional dedication and selfmotivation, because of the lack of physical commitment. This can be problematic considering the many other responsibilities and activities that can distract you. At the same time, online MBAs are arguably the most flexible MBA format out there, since they can be done at any time, at any location. “Online learning provides immediate benefits for your personal development; you are able to apply your learning to your workplace straight away. […] Your employer will also be able to see immediate

business improvement as they benefit from the application of the skills you are developing,” says UK’s Newcastle University Business School.

Blended MBA MBA programmes offered in blended formats are an ideal choice for those who can’t quit their jobs and dedicate a year or two to their studies. Blended learning MBAs are the best for combining the advantages of online and on-campus learning. They are delivered in an innovative format combining online classes, faceto-face sessions at school campuses and virtual collaboration allowing students to make the most of their time, learning, networks and investment. This, combined with the fact that most of the key exams and presentations are delivered face-toface, including in-person assessments to measure how much students have learned. “Studying for a full-time MBA was out of the question due to the cost implication of not having a job,” says Romina Oxborough, a Warwick Business School (WBS) distance learning MBA. “But I did not want to miss out on the face-to-face interaction with a faculty, and the chance to build a network. WBS offered the possibility of doing both.” Spain’s IE Business School is one of the world’s leaders in distance blended learning MBAs. It offers multiple MBAs in a blended format combining online classes with short, face-to-face periods. The school’s 15-month Global MBA combines interactive online teaching via video conferences and debate forums with several options of short, face-to-face periods at the school’s campus in Madrid. “The blended format has been able to offer the same quality of a classroom programme

but without the hassle of having to travel weekly to school, or change jobs or city,” says IE Global MBA graduate Leila Pinto. “We know that circumstances sometimes change: weddings, babies, or promotion can knock you off track. Sometimes taking longer to complete your studies might be the best way to get what you want in the long term and we’re here to help you achieve your aims,” WBS adds. The Flexible Learning MBA from Strathclyde Business School is a similar case. Students, on joining the course, are provided with a recommended study timetable, which schedules the programme completion over three years. “Being flexible, this timetable is not set in stone,” the school says. Therefore, should the student wish to fast-track and complete the MBA course in less than three years, the school can suggest an alternative study schedule. Alternatively, should the student wish to take a bit longer to complete the MBA, the school allows for studies up to a maximum of six years.

Part-time MBA Part-time MBA programmes are ideal for students who are physically close to the university campus, and yet do not have the time or resources to dedicate a full year of their lives to studying. MBA candidates residing in big cities and capitals have the luxury of choosing part-time MBA programmes from among the established institutions in their immediate area. Proximity is considered a prerequisite for part-time studies, as the focus of part-time MBAs is on fitting in with the schedules of busy managers without sacrificing time spent in face-to-face contact. Usually, part-time programmes are offered in two formats - a regular part-time MBA, and a modular MBA. The latter has evolved

into the Blended MBA, offering a mix of on-campus classes and online learning. The regular format consists of one or two evening sessions per week in addition to roughly 15 hours a week of independent study, preparation and group work.

Executive MBA The Executive MBA (EMBA) is in a league of its own. It caters to would-be executives with 10+ years of managerial experience. It must be inherently flexible, because it makes the assumption that no manager can afford to dedicate a year of their life outside work at this stage of their career. Executive MBA programmes are modular in nature, closely resembling the blended format by combining online study with physical lectures. They can last anywhere from 12 months to over two years. The most appealing format is the Global EMBA, where participants travel to various international locations in order to get a taste of how business is carried out around the world. Naturally, this requires a bigger commitment, but executives often find it more rewarding in terms of learning. This is also where group-learning comes into effect. EMBA programmes generally have a strong focus on team-based learning and participants learning from each other. Case studies are employed in such a way that they become a platform for discussion. So should you choose a flexible learning MBA and why? If you don’t have the time for full-time education, the answer is a resounding “yes”. You will be able to experience the MBA at your own pace, at a location of your choosing, and still get a degree that can catapult you to new career heights. □ I.D-S. ACCESS MBA GUIDE 2016-2017

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MBA ADMISSION

GRE or GMAT? A guide to choosing between GRE and GMAT according to your strengths and weaknesses

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ver 800 business schools in 70 countries across the globe now accept the GRE test as an alternative to the GMAT for MBA admissions. How to decide which test to take for your MBA application?

The GMAT – Graduate Management

Admission Test - has traditionally been the exam required by international business schools for admission to MBA programmes. It was created with the purpose of evaluating the skills of prospective applicants to post-graduate programmes in business and management. GMAT is owned by the Graduate Management Admission Council. However, recently the GRE – Graduate Record Examination revised General Test (GRE also has several subject tests) - has been gaining ground as an alternative for MBA admission. Reputable schools such as LBS, Oxford and Cambridge (UK), ESADE (Spain), INSEAD (France), Harvard, MIT, Columbia (USA), CUHK (Hong Kong) are paving the way. The GRE is also already taken into consideration in MBA ranking methodologies, such as the US News and World Report’s 2016 Best Business Schools Rankings. The number of business studies applicants selecting the GRE test nearly doubled in the last three years. GRE test takers from India increased by 12%, which is above the average 10% growth of hopeful business school applicants using GRE scores, according to ETS – GRE owner report “Aspiring Business School Applicants Increasingly Using GRE Scores”. There has been a heated debate about how well the GRE predicts success in business school, as well as how to compare the abilities of

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applicants who took these two different tests – the GRE or the GMAT. But let’s leave the debate to b-school admissions professionals. Most business schools which accept both tests give them equal weight, so applicants are the decision makers. Let’s look at how an MBA applicant can find solid ground to make a choice about which of the tests to take. Both tests require quite an investment of time and budget in order to prepare adequately and achieve a competitive score.

How to choose between GRE and GMAT? Schools’ preferences

If you plan to apply to schools which accept both exams – GRE and GMAT – find out whether they have a preference for either of them. If the school clearly states that both are accepted and there is no indication that one will give more weight to your application than the other, then the choice is yours. If you are not really sure how the school treats the two tests for admission or for scholarship application, contact the admissions office for details. An excellent illustration about considering GMAT and GRE on equal terms is the EDHEC Business School Global MBA. GRE is accepted not only for admission, but also for merit-based scholarships, such as the EDHEC Excellence Scholarships covering 50% of the tuition fees for candidates with a GMAT or GRE equivalent of 720 or over. If you use the more pragmatic strategy – tests first and then school selection based

particular strengths of your skillset. “The GRE isn’t easier, but it’s different. If you’re struggling with the way the GMAT asks questions, you might find the GRE to be a more straightforward way of assessing your abilities. This can be an advantage to some applicants based on their unique thought process and learning style, but it shouldn’t be seen as a panacea for all testtakers.” advises Travis Morgan, Director of Admissions Consulting for Veritas Prep. Magoosh test prep experts analyse the difference between the two tests. Some of their highlights are that the “GRE Verbal section is focused on vocabulary, while the GMAT is based on grammar”. They also claim that “maths in the GRE is easier than that in the GMAT”. Moreover, test-takers can use a calculator on the GRE maths, but not on the GMAT quantitative section. The overall duration (with breaks) of the GRE is a bit longer – 3 hrs 45 min, than that of the GMAT – 3 hrs 30 min.

on your test scores - then it is best to opt for the GMAT, as it is still more popular for MBA admission. Here are three reasons why: • First, experts share the view that the GMAT is still the exam that business schools are more familiar with, making it easier for them to evaluate candidates’ abilities. Additionally, “It’s also difficult to fairly compare a GMAT score with a GRE score, between applicants,” says for US News JoAnne Goldberg, a former assistant director of admissions at the Stanford University business school and an MBA graduate of the school. • Second, business schools still perceive the GMAT as a commitment to MBA studies. • Finally, a long-term incentive in support of the GMAT is that plenty of employers in the business sector consider GMAT scores in job applications.

Different formats

The GRE is provided in two formats – a pen-and-paper and a computer-based test - while the GMAT is only delivered on a computer. If you have a preference for either of these two options, you can choose the one in which you expect to perform better depending on the availability in your location.

Applying to MBA and a Master’s

Another good reason to choose the GRE is if you consider applying to MBA and Master’s programmes. “If you haven’t decided yet between pursuing an MBA and another graduate degree you’ll have a greater chance of killing two birds with one stone if you take the GRE” note experts of The Economist GMAT Tutor in the article “Which test should you take? GMAT vs. GRE”. GRE is generally accepted for admission to Master’s degree programmes. Then you can still select b-schools for your MBA amongst those 800+ institutions that accept GRE for MBA admission.

Already taken the GRE

It is possible that you have already scored well on the GRE in order to attend a Master’s degree programme directly after you got your Bachelor’s degree. The score of the GRE is valid for five years, so it is very likely that you can still use it. In this case, you do not need to take the GMAT for your MBA application if you select business schools which accept both the GRE and the GMAT.

Struggling with the GMAT

There are arguments about which test is easier. Of course this is very individual depending on many factors including the

Looking deeper into the content, the GMAT has two subsections - Data Sufficiency in the Quantitative section, and Critical Reasoning in the Verbal, which are usually quite challenging. They test not just knowledge of maths, vocabulary and grammar, but “higher order thinking”, as Veritas Prep instructors phrase it.

Take advantage of your strengths

“Are you better at Quant or Verbal? If you’re naturally inclined to do better in one test over another why not stick with your strengths?” suggest test preparation experts of The Economist GMAT Tutor. They explain that the GMAT is considered tougher in the maths part primarily due to its data sufficiency questions, while the GRE Verbal section’s emphasis on vocabulary can make it tougher for non-native speakers and those who don’t regularly read complex literature. The bottom line is that the two tests are just different. GMAT is still considered to be the test focused on assessing skills for b-school studies, while the GRE is better suited for Master’s degree admission. However, a winning strategy is to opt for the test in which you will perform better if your selected schools accept both GRE and GMAT. There are a number of good reasons to prefer the GRE over the GMAT. □ I.B. ACCESS MBA GUIDE 2016-2017

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MBA ADMISSION

The 10 Best Ways to Prepare for the GMAT By Veritas Prep

I. Learn from your mistakes The GMAT is a challenging test: its mission is to differentiate between college graduates who are pursuing even-higher education, so it has to be challenging to get large portions of that group to struggle with each question. Even if you were a standout scholar with great grades and test scores, prepare to make mistakes and to learn from them. Every mistake you make in practice offers a lesson to help you avoid a similar mistake in the exam.

II. Ask why you made those mistakes Most examinees will try to learn at least something from each mistake, but an alarming number of those test-takers will do so inefficiently (if not just plain incorrectly)! Let’s say, for example, that you fail a Data Sufficiency problem because you forgot to consider the possibility of negative numbers. Many students will label that problem based on its content area, such as “exponents.” But you didn’t get a DS problem wrong because you don’t understand exponents; you failed because you made a mistake that could damage you on lots of other problems. So make sure that you put thought into the way that you categorise, label, and return to your mistakes so that your study sessions directly address your areas for improvement.

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III. Focus on what you should do, not just on what you should know A common refrain among those who fail to achieve their target score is “I knew everything cold, but then everything looked different on test day.” Their mistake? The GMAT is a test of how well you APPLY knowledge to unique situations, not about how well you REMEMBER that knowledge. So study with verbs in mind: what do you DO when you see a certain type of problem so that you can put that knowledge to work? For example, with exponent problems, you should look to 1) FIND common bases; 2) FACTOR addition/ subtraction into multiplication; and 3) TEST small numbers to find a pattern. When problems don’t seem to have an easy plugand-chug method, remember those verbs you learned so that you know what to do to make the problems solvable.

IV. Think before you read the solution Arguably the most common frustration that GMAT students have is that the written solutions to problems – regardless of the source – are convoluted, confusing, and hard to follow. So don’t rely on them unless you have to! Even a well-written solution is less effective than is your own trial and error as you try to connect the dots between problem and solution,

largely because you need the solution to make sense to you, not to the graduate student intern who wrote the problem. So use written solutions as a last resort; before you go to them, check the correct answer and see if you can connect the dots yourself.

V. Never mistake activity for achievement GMAT students often measure their progress in terms of the number of hours they’ve studied or the number of problems they’ve completed. But while those numbers may be correlated with success, they’re not as causal as you might think. Make sure that the time you spend and the problems you do are time and effort well spent. Before each session, have a plan for what you want to address and why, and afterwards take short notes (mental or written is fine) on what you learned that you can apply to future problems or tests. It has been said that 90% of success is just showing up; the GMAT requires that extra 10%.

VI. Study reputable material, particularly for Verbal Official GMAT problems cost thousands of dollars – EACH – to produce and validate. So when a new company or app launches with “thousands of realistic GMAT problems!” they’re either too optimistic, or they’re just lying. Even some of the official testmaker’s oldest material is out of line with the current test (which changed item writers from ETS to ACT back in 2006), so studying old, official material or new, notall-that-reputable material can lead you astray as far as what to study and how to improve.

VII. Save the stopwatch for later Yes, the GMAT is a timed test. But you shouldn’t start using the stopwatch until you’ve mastered core content and strategy; otherwise you’ll just make the same mistakes…faster, and more often. Focusing on time also means that you’ll learn more problems by reading the written solutions and not by forcing yourself to form connections and build skills; the latter

options are much more permanent. Allow yourself a Learning phase – in which you take as long as you need to solve problems – before your Practice phase – when you’ll need to add that timed element to make sure that you can perform on test day.

VIII. Prepare for mental stamina The GMAT is a 3 hour and 30 minute test – and that’s before you add in breaks and the check-in process. Studying during lunchtime and practising on your phone is helpful, but you’ll need to plan to have some longer study sessions (and full-length practice tests) so that you’re ready for staying focused and thinking clearly when your brain is spinning from several hours of tough problems.

IX. Address your weaknesses… Studying for the GMAT isn’t often fun, so people will often sweeten the pot by working on the problems that they enjoy the most. But a small gain on your strong suit can only help your score so much – and schools are interested in a balanced applicant, so going from a 48 quant score to a 49 won’t help your admissions chances much if your verbal score is still below average. Make sure to take your medicine and eat your vegetables, so to speak; if you’re going to study, put that time toward the parts of the test that will increase your score the most…and that’s going to be your weakness.

X...But don’t ignore your strengths At the same time, you should spend at least 20% of your time keeping your stronger skills fresh. It’s not at all uncommon for engineers to score higher on verbal than quant and for poets to score higher on quant than verbal, often to their dismay as they can’t believe that they underperformed on their strength. Don’t let those hard-earned skills atrophy and don’t take your initial practice test prowess for granted. Devote a little bit of time each week to staying fresh overall so that your gains on your weak areas are balanced with strong performances overall. □ ACCESS MBA GUIDE 2016-2017

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MBA ADMISSION

What do B-schools Want to Know About You? A look at some of the world’s most respected schools’ admission essay requirements

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BA admissions essays are the part of your application package about which admissions committees are most curious. Although essays have strict topics and volume limits, they are still your best opportunity to be genuine, personal, creative and unique. That’s clear enough. But what do prestigious schools, in particular, want to know about you?

What b-schools expect

Business schools usually give clear and friendly instructions about what they expect to read in your essays. Here is what the Wharton MBA recommends: “The Admissions Committee wants to get to know you on both a professional and personal level. We encourage you to be introspective, candid, and succinct. Most importantly, we suggest you be yourself”. On average, b-schools require two or three essays of about 500 words each. For example, the EDHEC Global MBA has two questions of 300 words each. However, ESMT expects eight essays of between 150 and 800 words. The total number of words in one school’s essays can range between 600 and 2450.

The value of admission essays

The key advantage of the essay is that it allows you to present yourself and persuade the admissions committee that you are the right fit for your selected programme. What you should aim to achieve when writing your essays is to:

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• Show that you have clear career goals • Show that you are aware of how the chosen programme can help you achieve those goals • Illustrate your unique skills, experience and values that will contribute to the learning environment of the MBA class and the mission of the b-school • Stay coherent. Essays are just one element of the application package, but all documents, facts, figures and feedback should be linked, supporting and complementing each other to convey what you can bring to the b-school and how you will benefit.

Types of essay questions

These key points are reflected in the actual essay questions. So, it is best that you look into some examples and get into the shoes of MBA applicants. “Typical”

essay questions, no matter how they are actually worded, are: • Career goals and programme fit These questions are very straightforward and are the essence of the application. They aim to reveal your motivation for MBA studies and for choosing a particular programme. Here is an example: “Please explain why you are applying for an MBA at ESMT. What are your career plans upon completion of your MBA? Please provide some insights into your short-term (immediately after your MBA) and longterm objectives. (800 words)” • Your contribution Each business school evaluates your potential contribution to their

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programme. Convey in your essay what you are good at, what your values are, what you are passionate about, what is unique about you and how it can benefit your peers, professors and the learning environment.

and why? You may choose from any field (arts, literature, politics, business, etc.).” Questions of this type give you the opportunity to elaborate on the difference you would like to make in the world, the leadership style you aspire to, the values you share.

LBS ask the question in this way: “What specific areas of London Business School life are you most excited about getting involved in and where will you add value? (300 words)”. However, such questions do not limit your response to extracurricular activities.

• Failure, achievement, values Achievement seems easy to talk about, but failure – not so much. However, analysing mistakes and learning from failure is a valuable experience that admissions officers want to hear about.

• Leadership aspirations MBA programmes cultivate business leaders. You often come across essay questions about a notable person or a leader whom you would like to meet or whom you admire.

IMD requests: “Describe a time in your life where you faced a significant failure. How did it affect you and what were your greatest lessons? (Maximum 300 words)” and “Describe a situation when your personal values where challenged.“

HEC Paris Full-time MBA application asks: “What figure do you most admire

• Present yourself Business schools often simply require

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you to give a presentation of yourself. This is certainly not an easy task. It helps to think about what makes you unique in comparison to others of your academic and professional background, gender, nationality, etc. Duke Fuqua says: “Share with us 25 random things about yourself. Some points may be only a few words, while others may be longer.” IMD: “Describe yourself in two hundred words or fewer.” In the end, it all boils down to helping admissions committees get to know you better as a person and a professional; inspiring them to support you in whatever difference you would like to make in the world; convincing them that you are an indispensable asset for the next MBA class that they are putting together. The admissions essays are your best opportunity to talk to the MBA admission decision makers. □ I.B.

MBA ADMISSION

“Highly Recommended” Practical tips for great letters for recommendation

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ome business school admissions committee members have revealed that they consider the letters of recommendation in the MBA application incredibly important to their decision-making process— possibly the most important aspect. This surprises many applicants who don’t take the recommendation letters seriously because they do not personally complete them. These applicants fail to see one of the key reasons why recommendations are extremely important. Recommendations can provide a glimpse into your management skills. If you cannot ensure that your letter of recommendation is appropriate, professional and on time, what does that say about your managerial potential?

Selecting the right people to draft your letters of recommendation is essential. The admissions committee can learn a lot about you just by observing who you select to write a letter on your behalf. When selecting someone to write your letter, choose people with whom you work closely and who know you well. The person’s job title is not as important as how well they know you, and the single best person to ask for your initial letter of recommendation is the manager to whom you report directly. In fact, many schools actually require you to ask your direct supervisor to write your primary letter of recommendation. Choose people who like you, and who think you are good at what you do. If

a potential reference seems less than enthusiastic in any way, keep looking. That person’s ambivalence is likely to come through in the letter. In some cases, however, choosing your current supervisor is not possible. Go back to the pool of options and select the next best person. You may choose someone from a prior job, or someone with whom you have worked closely but do not report to. If you select two references from the same company, make sure that they can provide different perspectives on you. For example, one can be your manager, and the other can be someone with whom you worked cross functionally.

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I often hear questions regarding the benefit of selecting MBAs to write your letters or, even better, alumni of your target schools. All things being equal, it is helpful if your recommender has an MBA. It means that they understand the process and it may also validate them in the eyes of your target school. Consider this a “nice to have” but don’t select an MBA at the expense of the number-one rule: selecting someone who knows you well. A note specifically for those applying directly from college: You may think that your former Economics professor is a great person to write a letter because they think highly of your academic ability. However, a professor usually cannot answer questions about interacting with peers, leadership abilities, career goals, areas needing improvement, and more. It’s truly essential that the people writing your reference have clear insight into the information that the business schools ACCESS MBA GUIDE 2016-2017

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seek. In these cases, it is better to find a recommender from an extra-curricular setting, such as one of your volunteer commitments. Once you have selected your recommender, ask for their feedback to get a feel for whether the person is supportive of the MBA degree in general before asking for his or her help. Begin these discussions well in advance of applying, so that there are no surprises. When you are ready to actually ask the individual to write a letter on your behalf, request a brief meeting to discuss your own MBA plans privately. Ask if the referee feels he or she could write a positive and supportive letter on your behalf. Next, you should outline all logistics and deadlines for your recommender. Make sure that he or she is fully aware of the time commitment and schedule required. You should give referees at least 1-2 months’ notice. Supply your recommender with a two-page document that contains only the most essential information. Then let them know that you can provide any other materials that they might find helpful. Preparing your “recommender document” will also help you with your own essays, so it is a valuable exercise in and of itself. Decide on four or five key characteristics you would like your recommender to

emphasise throughout the letter, such as leadership, teamwork, creative thinking, determination, focus, intelligence, charisma, or integrity. Then, provide at least one concrete anecdote that you feel illustrates each characteristic. For example: “Initiative – Last year, when I learned that international sales were declining, I took it upon myself to research the competitive landscape and learned of two recent market entrants. I then offered to lead a team to analyse these new competitors and develop a strategy for regaining our market share. Our team of five analysts proposed a solution after one week of work. The solution was implemented and within six months, we had regained 50% of lost market share.” Once you hand over the package and instructions to your recommender, you only need to stay on top of the process and make sure that your referees do not miss the deadline. Finally, you will want to express your thanks when someone does you a favour. Once everything is settled, write your referee a thank-you note, or send a bottle of wine or other small gift. Nothing elaborate is needed; just be sure to show your appreciation that they found time in their busy schedule to recommend you and support your plans to pursue an MBA. □ S.B.

• Do not prepare a common letter for all schools. Recommendations should be school-specific, answering each individual question on the form in detail. • Referees may be tempted to ask the candidate to write their own letters. In addition to being unethical, this is not a good idea as schools can recognise that the letters are in the same style as the essays. • If there is a grid that asks the referee to rank the candidate on a number of dimensions, it is not necessary to indicate that the candidate is in the top group in every category. It is important that the ratings be credible. • Most schools request some background information about the recommender in order to establish a context. Information about the recommender may build credibility. • An honest assessment of the candidate’s weaknesses is as important as a review of strengths. Indicating where the candidate can improve will build legitimacy for the rest of the recommendation. • Unless claims are backed up by specific examples, they are not convincing. Give strong examples that reinforce the traits you are describing. • Recommendations should highlight how the applicant is different from others with similar CVs/résumés. • Recommendations should discuss personal attributes that are not easily described in essays, such as integrity, respect, or sense of humour.

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MBA INTERVIEW

Acing the MBA Interview Top tips from a top expert

You’ve worked hard on your MBA application, aced the GMAT, told a great story through your CV and essays, had your application package reviewed by a professional MBA Admissions consultant, obtained glowing references, and submitted your application on time. Now what? The next crucial step in your application is the MBA admission interview. If you have been invited for one – congratulations! This means that the Admissions Committee at your dream business school considers you an interesting candidate and would like to meet you to further assess your qualifications and your personality. Some candidates believe, mistakenly, that the interview is just a formality. If you were applying for a job, would you think that an interview was only a formality? Getting an interview simply means you’re still “in the game”, so take the interview seriously! Remember, there are many applicants vying for limited seats in the MBA programme, and your job is to “sell” yourself to the Admissions Committee. Be sure to know what the school is looking for in candidates and highlight your achievements that are most relevant to that particular business school. A common question that many candidates ask is: How do I know what the school is looking for? Chances are, this is the first time you’ll be applying to an MBA

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into the best possible school that fits your profile and your career aspirations may mean the difference between living your dream career or getting stuck in the jobs you don’t like for another 30-40 years of your professional life.

How do I prepare? Remember that the interview is the culmination of your entire application. It is a chance to clarify and elaborate on the “story” you told through your application, and make a good impression that will likely result in an offer of admission.

Sergey Kouk

For this reason, your interview prep should begin well before you’re invited for one! When you’re putting together your “story”, be sure to highlight three main areas:

Sergey Kouk has an MBA and a Master’s in Applied Mathematics. Having scored 750 on the GMAT, he has been preparing students for the GMAT and assisting them with the MBA application process for a number of years. He is currently the managing director at Admit Master, a Canadian MBA Admissions Consultancy.

1. Where you came from: your background, education, work experience, and community involvement. 2. Where you’re going: your career objectives, your dream job after the MBA, where you see yourself in the next two, five and ten years. 3. How this business school can help you get there: why the school is the perfect fit for you, how you would benefit from the MBA, and how you would contribute to the success of others.

Managing Director Admit Master, Canada

programme, and you may simply not know what you don’t know. The easiest and most straightforward approach is to hire an MBA Admissions consultant with lots of experience in the industry. After all, you only do your MBA once, so getting

If getting professional help with your MBA application is not practical, be sure to do extensive research on your own: read the comments and profiles of other candidates who were successfully admitted to the same

school; visit the school campus and talk with current students; search your LinkedIn network and connect with students and alumni from that school; ask for advice; and definitely have someone, ideally a friend or a colleague who successfully applied to the same or a similar business school, run mock interviews with you and give you honest feedback.

How should I present myself at the interview? Make a good first impression from the moment you walk into the reception area. Shake hands, maintain good eye contact and keep a positive attitude. Be humble but confident. Be well-rested and welldressed. Be prepared, but don’t sound

like you’re reading from a prompter. Most importantly, relax and be yourself. After all, you want the business school to admit you for who you really are!

questions or makes comments. Start your answer by repeating the question; this will help you stay focused. Avoid one-word answers.

Should I simply answer questions?

Most importantly, prepare two or three compelling questions, answers to which you can’t easily find on the Internet. Asking interesting and unique questions will make you more memorable and could tip the scales in your favour even more!

While it’s important to answer your interviewer’s questions, your job is to tell your “story” and further strengthen your application. Be sure to tailor your answers and highlight unique personal stories that make you different. Let the interviewer guide you through the first steps, but then gently take control of the conversation. Be polite; never cut off the interviewer when he or she asks

Finally, remember to follow up no later than one day after the interview, and ideally the same day if your interview is in the morning. Thank the interviewer(s) for their time and reiterate your interest in the programme. Good luck! Sergey Kouk at [email protected]

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Finance and consulting remain the linchpins of an MBA career

MBA CAREERS

Old-Timers & Golden Classics

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f you have decided that you need an MBA, you must have asked yourself some of these questions: Which sectors are most favourable to MBA graduates? How do their professional prospects differ geographically? Where do alumni debut in the corporate hierarchy? These are some important unknowns for candidates that we will try to tackle. So, let’s say a whole class of soon-to-be MBAs will finish their degree in a couple of months. What are the prospects of landing a position in one of their preferred business sectors? The 2016 Alumni Perspectives Survey Report of the Graduate Management Admission Council outlines the global industries that hire business school graduates. The first two sectors with the highest need for employing MBAs are traditional - products and services, and finance and accounting (19% for each of them). These are pretty broad areas that may include very versatile firms. The third sector that comes close with 17% is more concrete - technology. The future will show how sustainable the technological boom is, but the need for talented leaders indicates the rapid pace of this area’s devolvement. Both analysts and businessmen are talking about the third industrial revolution (mechanical manufacturing and the moving assembly line in the 18th and 20th century being the first two). It seems, at least for the moment, that the assumption that technology holds the key to the future may hold true. The abovementioned GMAC survey sounds representative enough. It was conducted in October and November 2015, and its findings were derived from 14,279 alumni from 70 business schools worldwide. It also shows that 63% of alumni work in three fields: 24% of them - in finance and

accounting, 21% in marketing and sales and 19% in general management.

Sectors preferred by MBA students Before we dissect the most popular industries among MBA graduates, let’s take a brief look at internships, as the readiness to hire MBA interns denotes the value of the programme to employers. GMAC surveyed 179 employers from 31 regions/countries and found that 73% of them offered internship opportunities to MBA students. Why is this important? Sometimes an internship may lead to a job within the company or tilt the balance for being hired at another company later. An MBA degree increases the chances of employment. The GMAC 2015 Global Management Education Graduate Survey reveals that 68% of the part-time/flexible MBA jobseekers from 2015 received job offers before finishing their degrees, as did 63% of the two-year full-time and 36% of the one-year full-time students.

“The future will show how sustainable the technological boom is, but the need for talented leaders indicates the rapid pace of this area’s devolvement. ”

The top three favourite industries for fulltime MBA students vary slightly, depending on the length of the programme. For the one-year MBA, finance/accounting (26%) is the most preferred field, followed by products/services (23%) and consulting (19%). The two-year full-time students’ favourite spheres are finance/accounting (24%), consulting (22%) and products/ services (19%). The discrepancy is very slim and may fall within the statistical margin of error. The part-time/flexible MBA students prefer products/services (26%), consulting (17%), finance/accounting (14%), technology (14%) and health care (13%). As we already said, the IT boom also increased the demand for employees with business education in the technology sector - 93% of tech firms said they wanted ACCESS MBA GUIDE 2016-2017

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to hire MBA graduates. Many business schools realise that increasing technology within businesses is more than a temporary phase the modern-day economy is going through. On the contrary - it is a direct reflection of what companies will look like and how business will be carried out in the future. Douglas M. Stayman, Associate Dean for MBA programmes at Cornell University, explains about the Johnson Cornell Tech MBA: “Primarily, this is an MBA about the digital economy. The campus is about the digital economy and how the digital technology and informational revolution is changing the way business is being done. The traditional MBA, like the traditional engineering college, was built for a certain kind of economy and a certain kind of corporation and a certain way of doing business. And Cornell Tech was developed because the way products are developed, the way they are tested, the

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way they are brought to market, the way they are managed, is changing.” Energy and utilities, and the technology sectors show the highest preference for hiring MBAs, followed by products/services (86%) and finance and accounting (84%). Moreover, 81% of consulting companies, 81% of manufacturing companies and 75% of health care and pharmaceutical companies also say they need MBA alumni.

Business education and international careers One of the focal points in taking the decision to go to business school is the possibility tof using the degree as a passport for an international career. But which world region is likely to be most open to expatriate job candidates? In 2015, the Asia-Pacific companies were most inclined (43%) to hire

international students. They were followed by 28% of employers in the US and 23% of recruiters in Europe. Behind the dry numbers, one must take into account the strength of the concrete national economy and the overall entrepreneurial culture and spirit that make the life and hiring of expatriates easier. On a more micro level, the individual profile of companies also matters - due to their workings with worldwide businesses, finance and accounting (38%) and consulting (36%) firms were most welcoming to international candidates. Another interesting topic is relocation. In principle, international education gives you a chance to transfer your career - 69% of the candidates hired outside their home country had an international graduate business degree, the GMAC data shows. But, at the same time, almost nine-tenths

“Globally, most of the graduates begin at midlevel (46%) or seniorlevel (31%) positions. The exceptions are the ones who skyrocket to executives (13%), and the C-suite (3%) - CEOs, CFOs, etc.”

(88%) of MBAs in the world remain in their home country. This means that relocation still remains an exception.

of graduates with business degrees other than MBAs start work in entry-level posts in comparison to just 4% of MBA holders.

The US seems most conservative in this respect. Just 3% of Americans with an MBA work abroad. Of course, this may also mean that the conditions for MBAs in the US are exceptional. In comparison, 29% of Europeans go to a different country. Of course, given the specifics of the common European market, it is understandable - an alumnus from Sweden may relocate to Denmark, or one from France to the UK. The GMAC polls show that most alumni from Central and South Asia (55%) prefer to move, albeit within their own region.

We now come to the subject of company size. It shouldn’t really matter how big a company is. Depending on personal preferences, one may feel better in a smaller start-up or a boutique firm, or in a larger, more established organisation. The highest proportion of alumni (30%) work for large firms with 25,000 or more employees, 20% for companies with between 100 and 1,000 staff, 19% for firms with a workforce between 5,000 and 25,000, 16% for entities of between 1,000 and 4,999 people and the remaining 15% for companies with fewer than 100 people.

Positions, size of companies The self-employed are a very special group and entrepreneurship It is common for MBA graduates to perceive their education as a career accelerator. Almost three quarters (73%) of them believe that taking the degree led to faster career advancement. In addition 8 out of 10 claim that it prepared them for leadership posts. An important question is where, on the corporate ladder, do MBAs start after graduation? Globally, most of the graduates begin at mid-level (46%) or senior-level (31%) positions. The exceptions are the ones who skyrocket to executives (13%), and the C-suite (3%) - CEOs, CFOs, etc. Fewest of all (7%) start work in entrylevel positions. According to GMAC, 23%

among alumni. One in every ten graduates is self-employed. These are entrepreneurs with a high level of autonomy who also report high job satisfaction. While 65% of employed MBAs say that they are satisfied with their work, 81% of those that are selfemployed say the same. Average working hours for this group is 49 hours per week and the average pay of entrepreneurs is 145,000 USD per year. For those who want to depend on themselves, an MBA with a specialisation in entrepreneurship might be a suitable choice. Here, unsurprisingly, the greater extent of autonomy, self-reliance and freedom, also comes with greater responsibilities. □ D.G. ACCESS MBA GUIDE 2016-2017

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MBA CAREERS

Start Your Engines! Business schools embrace the startup hype

E

ver asked yourself why the road from a good idea to its realisation sometimes feels so bumpy, long and exhausting? The reason is that these are two completely different parts of a very important process. If one neglects either of them, it may all fall apart.

Facebook was not the first social network in the world, but it is arguably the most successful. Mark Zuckerberg did not invent the idea itself; it had already been out there for years. Classmates. com started almost 10 years earlier in 1995, then sixdegrees.com appeared, then Friendster, the list goes on and on. Zuckerberg and his team, however, seem to have developed the concept most thoroughly and effectively. And neither did Bill Gates pioneer software, or Steve Jobs the tablet. All they and their teams ever did was to perfect these things, making them indispensable for millions of people. The road to success is made out of many different, sometimes small, steps. Making one or a few of them correctly does not guarantee you will ever get anywhere at all. It takes talent, inspiration and original thinking to give birth to a potentially successful business concept. The skills required for its successful creation are indeed very valuable. The idea could be adorable, people may get to love it one day, its potential may truly be outstanding. But if the realisation phase lacks courage, perseverance and knowledge of how to get through all the different business processes, it may never be realised. Coming up with an idea is one thing. This might be quite different from the business plan itself, and a world away from the actual financing (IPO, loan, etc.), which is a separate area from marketing and

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advertising. These are totally different things from the running and daily routine of a company. And this is where an MBA comes as a nexus. Business education is useful for becoming an entrepreneur in many spheres, one of which is the booming innovative technology sector. The development of Internet economics recently aroused interest in the degree among many players in the tech industry.

When technology meets business education? The 2015 GMAC Global Management Education Graduate Survey places technology as the fourth most significant industry (12%) in terms of job offers for the Class of 2015. The first three are finance and accounting, consulting, and products and services. Technology is also the third sphere of preference of that valuable 5% of business school students who have started or are about to start their own businesses. More concretely, 13% of b-school students that identify themselves as entrepreneurs recognise technology as their current or prospective area of choice. The available GMAC survey data suggests excellent perspectives for tech profile students. The average boost in salary for graduates with a job offer in technology in 2014 was 98%. This is second only to healthcare by 12 points. In 2015, however, the tech industry was the leader in this respect, with an impressive increase in remuneration of 103%. The rapid development of Silicon Valleyrelated businesses makes business education of technological leaders a topical subject. Combining computerrelated and hi-tech competencies with good management abilities could make a difference both for start-ups

and more established companies. Employers recognise this - for example 30% of UCLA Anderson School of Management’s Class of 2015 were hired by technology companies, as reported by the Financial Times (FT) in February 2016. This proportion was equal to that of graduates taking consultancy jobs perhaps the all-time favourite sector for MBAs, together with finance. In that very same year, around 20% of MBA alumni from the London Business School also took technology jobs.

From engineers to managers “Even five or six years ago, newer tech firms felt that MBAs weren’t needed as much in the technology industry, because they felt they needed engineers,” Anderson’s director of recruiting operations, Phil Han, explained to the FT. “Many of these companies are now growing so fast that they need the strategic thinking and leadership skills provided by an MBA. As a result they are coming to us more often.” There is yet one more very strong historic argument for the benefit of attracting technology and start-up leaders into good business schools. A deeper understanding of how the economy and business cycles work could be important to the well-being of the tech industry in the longer run. Just like every other booming economic sphere, technology is not immune to overheating. In a world of volatile markets, high addedvalue areas like these, which seem to be safe havens, need an emphasis on hedging against risks. And education could be an excellent way of doing so.

are cautionary about the start-up fever in recent years and suggest graduates should aim at finding jobs in stable companies. In December 2015, the Wall Street Journal reported an interesting aspect of use of statistics for start-ups by the Harvard Business School - it tracks the percentage of students who founded startups after graduation and uses it as a sign of overheating. Prof. Thomas Eisenmann, co-chair of the HBS’ Rock Center for Entrepreneurship, calls this the “canaryin-the-coal-mine number.” He suggests that if new companies start mushrooming too rapidly, as happened just before the dotcom bubble burst, from roughly 5% in 1999 to 11% in 2000, it may be signalling “herd behaviour”. He adds, however, that with around 9% of the school’s graduates having started their new ventures, there is no immediate cause for concern.

Digital transformations As tech start-ups professionalise and become more pervasive in spheres they have only recently penetrated, their structure becomes more sophisticated. The need for schooled and seasoned managers is no surprise. What’s relatively new is the necessity for people with a dual profile combining tech and leadership

acumen. “The combination of technology and strategy will be key to how the deal landscape evolves in the next 10 years,” predicted John Dwyer, PwC’s global head of deals for businessbecause.com. “Buyers now expect to understand risks and opportunities in far greater detail before making significant investment decisions,” he added. The website also explains further that the consulting industry demonstrated demand for employers who are able to “lead clients’ digital transformations”. With businesses becoming more technological and technology needing more leadership talent in the classical sense of the word, MBAs seem to fill a valuable niche. This is especially interesting given that nowadays exceptionally high hopes are being vested in the tech industry, almost to the point of being unrealistic. Technology has turned out to be something of a mantra; a crossroad hub of all known human activities and achievements so far, a linking chain between automation, creativity, entertainment and even the modified, fluid and, at first glance, more democratised version of the media. Building a sustainable future is what seems to be the challenge. And here, quality business education perhaps has something to offer. □ D.G.

Other industries may not have such a fresh memory of how tides can turn, but technology sure does. It was a little more than 15 years ago when the so - called dotcom bubble burst, and the tech index NASDAQ peaked in March 2000. Despite all the great technological developments throughout these years, it was not until April 2015 that the index reached the same levels again. The recent tech boom may or may not be sustainable. But cultivating and refining management skills in a quality business school is a good way of understanding how to switch strategies when the economy changes or is about to change. Business education could also provide some personal hedging. Some experts ACCESS MBA GUIDE 2016-2017

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MBA INTERVIEW

My Cosmic Journey Through the MBA A career outside business made me re-evaluate the definition of MBA success

Why did you decide to pursue an MBA degree at Frankfurt School of Finance & Management?

unusual that you can immediately capitalise on this type of studies for several reasons: the complex socio-technical understanding required in leadership positions, the seniority culture (sometimes), and last but not least the stability of the organisation.

It was a rather fortunate encounter, at the right time and at the right place, when I realised I lacked the acumen to connect technical solutions to the business context. I needed to develop this ability, which had become critical for all technical people working at the edge of business. I was living in Frankfurt am Main and since I wanted to advance in my career, the first step was to look at the solutions available in my immediate area. I found out that Frankfurt School of Finance & Management was just starting its first edition of the MBA. The idea (and privilege) of becoming a student once more was rather exciting. From the school’s ranking in the Financial Times and a personal meeting with the director of the programme, I gained a good impression of the overall faculty quality. Frankfurt itself is a nice area to live in and, coupled with its importance as a financial and industrial hub, the idea of settling down there became more and more appealing.

What did you end up doing after you graduated?

For the time being, I am continuing in my pre-MBA role of Requirements Engineering consultant at EUMETSAT, where I support the requirements management activities of a range of European space programmes with the definition of tools and processes. I am confident that that there will be new developments in the future, sometime, somewhere. Patience and perseverance can be virtues at times. In highly technological international organisations, it is rather

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How has the MBA degree helped you succeed in this highly technological field?

Daniele Gianni

Frankfurt School of Finance & Management Full-time MBA Graduate, Class of 2016 Daniele Gianni is a recent graduate from the Frankfurt School of Finance & Management. Currently, he is working as a consultant at EUMETSAT, the European Organisation for the Exploitation of Meteorological Satellites. Daniele first became interested in the MBA after a lifechanging experience in the US during his PhD. At that time, he felt he was destined to remain in academia. With prestigious opportunities materialising in the UK and the Netherlands, he never doubted this direction. But in 2013, Daniele “landed” in Frankfurt am Main for his consultancy job, and during this time of close encounters with the world of business, he crossed paths with the MBA again — this time permanently — as one of the FSFM cohorts.

Much depends on your own definition of success. For the time being, my definition falls between “being effective in mobilising others towards an organisational goal, which I possibly co-define” and “helping others to discover their talent and to grow to achieve their potential”. Achieving this definition of success requires many skills. Coming from years of applied research, I had already developed sharp technical problem-solving and analytical skills, which can be key to reaching that definition of success. However, when you deal with people, the “technical versions” of these skills need to be extended to include the emotional and social sides of а problem. The MBA has helped me broaden these skills to cover business and social aspects. For example, now when I define a new process, I also tend to assess its impact on the human resources to determine whether the best process in terms of technical definition is also the best process in terms of human implementation in the organisational context. I also consider other aspects, including the need for the implementation of change management activities. In addition, the MBA offered me a unique social laboratory opportunity in which

experimenting and failing were relatively safe — a rare privilege that cannot generally be afforded in normal circumstances. This marked the continuation of a selfdiscovery journey (i.e. understanding how you are perceived in your daily life) that I had already started. However, it was also the beginning of a self-regulation journey (i.e. controlling how you react to events) and a social awareness journey (i.e. understanding the organisational culture). Experts say that your progress in these “journeys” is a key condition for being an effective leader, and – for me – starting or continuing them is the basis for reaching success.

Have you tried measuring the ROI given that you don’t necessarily deal with business now?

This is a legitimate question, but I think it has its limits. As you learn in the MBA, financial indicators are only one out of the four (or five) dimensions used in the performance management of an organisation: as entrepreneur of yourself, why should you restrict yourself to financial indicators alone? I encourage people to look beyond the ROI and to consider instead the Return on Investment in Human Capital — if you wish to stick to numbers. Better yet, one should look at the Return in Happiness (RiH), if you wish to be more qualitative and to see the MBA as a personal transformation experience along the three journeys I have mentioned above. Personally, when I made the decision to

enrol in the MBA programme, I mainly considered the RiH. I looked at what I wanted to achieve, what I was missing in terms of knowledge and soft skills, and pondered the options to fill this gap. One option was to move to a different context, such as in a private industrial organisation or in a consulting company. In my case, that appeared to be a move that would have involved an average risk, uncertain development, and less comprehensive experience in terms of personal growth (the three journeys). As I mentioned earlier, social experimentation cannot always be afforded in normal professional life. The other option was to enrol in an MBA. For me, that was a more encompassing growth experience, a better way to prepare for the future, and it involved less risk. There was certainly a financial difference, but considering that time is unredeemable and that, to me, how you get there (in terms of career) matters as much as where you’re heading to, I had few doubts about which option I should pursue.

Do you feel satisfied with your choice of postgraduate education in light of your current career path?

Overall, I am satisfied with what I have acquired and discovered during the MBA. And I know it is up to me to take it from there and capitalise on this opportunity to steer my career from a technical role to a role at “the edge of business”. Often, large organisations tend to outsource part of the implementation activities.

As a consequence, traditional technical roles have often evolved towards positions that require business acumen and managerial abilities to coordinate internal or external human resources or to guide the identification of solutions to business problems. Having acquired formal education in business and management, I can offer tangible credentials about my “hard” managerial knowledge. However, I feel that staying on the path of the three journeys will make me much more effective in that role.

What would your advice be to candidates who aspire to work in fields other than business?

I would recommend not restricting the application of MBA lessons to business alone. There are many lessons that can be re-applied to oneself to gain an advantage in a career outside business. In my view, one important and relevant lesson concerns the awareness of the perceived risk of an “unusual” professional profile with respect to the risk appetite of the organisation you wish to work for. Finding an alignment between these two risks may still be necessary, after the MBA, for your way forward. One warning: if you have an unusual professional profile, be aware that your definition of success might be different from that of more conventional MBA candidates and graduates. Be aware of that and, more importantly, be comfortable with it. □ A.Z.

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GLOBAL

MBA

Features 2016-2017

Gain an In-depth Insight Into the Features of Top Business Schools Europe Athens University of Economics and Business Cass Business School CEU Business School Cranfield School of Management Danube University Krems Esade Business School EU Business School Edhec Business School Frankfurt School of Finance and Management IE Business School HEC Paris Leeds University Business School International University of Monaco IESEG Loughborough University, School of Business and Economics Manchester Business School| Alliance MBS MIP Politecnico di Milano Munich Business School NEOMA Business School Nottingham University Business School University of St. Gallen

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North America Concordia - John Molson School Business Hult International Business School Fordham Gabelli School of Business McGill University - Desautels Queens-Smith School of Business Sacred Heart University Simon Fraser University - Beedie School of Business UBC Sauder School of Business University of New Brunswick University of Toronto - Rotman School of Management York University - Schulich School of Business

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Asia Asia School of Business GLOBIS University NUS Singapore University

133 134 135

Australia Monash Business School

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MBA SCHOOL PROFILE

At the Forefront of Education and Research GREECE Student Body

Situated at the crossroads of three continents, Athens University of Economics and Business (AUEB) offers an exceptional exposure to the world, bringing together issues and challenges from the European Union, the Balkan countries, and the Middle East. Established in 1920, it is the oldest and most prestigious university in Greece in the areas of Economics and Business Administration. Being on the forefront of education and research for more than 90 years, AUEB has produced by far the largest number of Greek industry leaders, entrepreneurs, and managers, as well as faculty members and researchers. With excellent faculty who receive wide international academic and professional recognition, AUEB attracts the best pool of candidates in both its undergraduate and graduate programmes. Programme Presentation AUEB’s International MBA is a vibrant and innovative programme that aspires to offer high quality education in flexible forms. It is fully accredited by the Association of MBAs

(AMBA), and was the recipient of the MBA Innovation Award 2013 by the International Accreditation Organisation. Moreover, the programme occupies top positions in international rankings and is highly accepted in the market internationally. Focusing on the individual client rather than on what can be taught, the programme can be personalised and tailored to meet the specific needs and goals of each individual student. This is achieved through a wide variety of learning opportunities: optional courses, personal skills development exercises, a variety of immersion projects, career office talks, company days, etc. The International MBA programme is set to change your life. It will give you the knowledge, skills and confidence to analyse the challenges and opportunities that lie ahead in the global business environment and to formulate and implement innovative and effective strategies in the new era. It will help you cultivate your entrepreneurial capabilities, gain an international perspective, and strengthen your interpersonal and managerial skills.

Programme Info: Accreditations:

AMBA

Rankings:

Eduniversal, FindyourMBA.com

Type of Programme: Programme Format:

International MBA Full-time, Part-time

Content Strength or Specialisation:

Finance; Marketing and Strategy; International Business; Innovation and Entrepreneurship; Technology, Logistics and Operations

Languages Courses:

Greek

Application Deadlines:

End January/End May

Starting Dates:

Early September

Exchange Programme:

France, Spain, Sweden, China, India, Thailand, Colombia, USA

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Ratio of Applicants to Places: 3/1 Male Female Ratio: 49/51% Age Range: 24-44 Average Age: 30 Degree Background: Engineering, Management, Economics, Social Sciences, Information Systems, Technology International Students: 15% Europe: 50% North America: 17% Oceania and Asia: 33%

Admission Requirements University Degree: Bachelor’s degree (minimum) GMAT (minimum): 550 (mandatory for Full-time students only) TOEFL (minimum): 79 IELTS (minimum): 6.5, or Certificate of Proficiency in English References: Two Minimum Length of Work Experience: Three years (for the Full-time programme) Five years (for the Part-time programme)

Costs Application Fees: 50 EUR Tuition Fees: 12,000 EUR (13,500 EUR for non-EU students) Scholarships: Nationality based scholarships are offered to students from the Balkan region, Asia and Africa. Further information at www.imba.aueb.gr

Contacts Name: Ms Afroditi Kompoliti Email: [email protected] Telephone: +30 2108203659 Website: www.imba.aueb.gr

MBA SCHOOL PROFILE

The Intellectual Heart of Business united kingdom Student Body

Programme Presentation Cass Business School is amongst the top one percent of Business Schools worldwide. Always aspiring to excellence, we constantly seek new ways to serve our students and the global business community. With a considered and successful balance between theory and practice, our programmes are delivered in both London and Dubai and we have an extensive business and alumni network. We attract people from all over the world and our global connections ensure that our students are immersed in a truly international environment. Cass’s location is a clear advantage for your study and career search. Situated between the financial district and Tech City, no other European business school has as many Fortune 500 companies on its doorstep. Our goal is to provide support to world-class businesses with world-leading thinking. Our research is ground-breaking and through our partnerships with leading organisations has a demonstrable impact on our students, business and society.

Whether you are planning to transform or accelerate your career, our range of MBA programmes are designed to help you realise your potential. Taught by an international faculty in the heart of London, our one-year intensive Full-time MBA is designed to develop your business skills and experience, providing you with the confidence, knowledge and networks to achieve your career ambitions. We’re ranked amongst the Top 20 by the Financial Times for one-year MBAs, and have been consistently ranked in the top three for career progression in the UK. Throughout the course of the year you will encounter challenges and learning experiences that will prepare you for business leadership and enable you to become an effective decision maker. On this journey, you will be studying and collaborating alongside a talented international cohort of business professionals, each with their own expertise. The Cass MBA is a journey of exploration and professional transformation.

Full-time MBA 2015-16 Male Female Ratio: 70/30% Average Age: 30 Average work experience: 6 years International Students: United Kingdom: 21% Europe: 23% North America: 10% Africa and Middle East: 2% Oceania and Asia: 39% Latin America: 5%

Admission Requirements Admissions requirements differ depending on your programme of choice. Please refer to our website for details.

Costs Tuition Fees: Full-time MBA: 39,500 GBP Scholarships: Various awards available www.cass.city.ac.uk/mba/full-timemba/scholarships

Contacts Name: Cass MBA Email: [email protected] Telephone: +44 (0)20 7040 0286 Website: www.cassmbalondon.com

Programme Info: Accreditations: Rankings: Type of Programme: Programme Format: Content Strength or Specialisation:

AMBA, EQUIS, AACSB Full-time MBA ranked 8th in the world for corporate strategy, best value for money in London, Financial Times 2016 Full-time MBA ranked 6th in the UK, 13th in Europe and 37th in the world, Financial Times 2016 One-year Full-Time MBA Full-Time (12 months)

Application Deadlines:

General management with electives in Finance, Analytics, Strategy, Consultancy, Marketing and Entrepreneurship The Full-time MBA has a rolling admissions process

Starting Dates:

Full-Time MBA: September

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The Cass MBA London

All that you can be,

begins here.

Our MBA programmes are designed for ambitious working professionals and focuses on real-world business. On both our Full-time and Executive study modes, you will encounter stimulating challenges and learning experiences to prepare you for business leadership and enable you to achieve your potential. Cass Business School is located between the financial district and Tech City, London’s thriving technology hub and start-up scene. We are perfectly placed to provide you with a unique MBA experience, with opportunities for creating connections, exploration and career transformation.

All that you can be, begins here. Visit cassmbalondon.com or email us at [email protected] for details on how to apply.

cassmbalondon.com

MBA INTERVIEW

‘‘Be All That You Can Be’’ From Armed Forces Officer to Business Consultant What were the most important aspects you considered when choosing a course? When I was considering an MBA, several aspects were important for choosing Cass Business School. First of all, I wanted an intensive one-year programme which ensured minimal time out of the workforce. I also required a programme with a holistic perspective to business that could provide me with the necessary toolbox to achieve a career change from the armed forces and into management consulting. Secondly, when looking at different schools and geographies, the broad diversity of the Cass MBA cohort was appealing in terms of nationalities and backgrounds. I also thoroughly considered location, reputation and value for money. I wanted a school that was located in a vibrant city, with plenty of exciting businesses and networking opportunities and a strong reputation at a reasonable price point.

What was your goal and how will the MBA/EMBA/Master’s help you achieve it? In doing an MBA, my goal was to achieve a career change. Early on, when considering my personal interests, qualities and previous work experience, I had a strong feeling that strategy/management consulting was my preferred industry. The Cass MBA certainly helped reinforce this, and gave me good insight into life as a consultant through

several consulting projects e.g. a strategy project where we worked in teams of seven dealing with strategic challenges for a real client, and a consultancy week in Iceland where my team was working with one of Iceland’s leading financial institutions. Additionally, the Cass MBA careers service provided me with excellent career coaching and advice for the application and interview processes in order for me to achieve my career goal.

Would you recommend your programme to others?

Mats Kallum

Cass Business School Full-time MBA Graduate, Class of 2015 Mats Kallum is a recent graduate from Cass Business School’s MBA prograwmme and holds a BsC in Business and Economics from BI Business School in Oslo. Prior to entering the MBA, Mats had seven years of work experience with the Norwegian Armed Forces. Mats is currently working as an Associate with the Boston Consulting Group in Oslo, and enjoys cross-country skiing, mountain biking and tracking in his spare time.

I would most certainly recommend the Cass MBA programme to others. It is always important to find the school and the programme that fit your personal aspirations and preferences. The Cass MBA was a great experience and both time and money well spent for me. The Cass Full-time MBA is an intensive 12-month programme delivered in the heart of London. We’re located in the business district and close to Tech City, London’s thriving start-up hub, and have close links with both. So whether you’re are a promising business professional or a budding entrepreneur the school is perfectly placed to give you the best the city has to offer. If you would like to speak to one of our Recruitment Managers about an application you can email us at [email protected] or visit www.cass.city. ac.uk/mba. □

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MBA SCHOOL PROFILE

Where Ideas are Born H ungary Student Body

CEU Business School, founded by George Soros, offers students an unprecedented opportunity to earn an American MBA degree in the heart of Europe. Its programmes educate leaders and entrepreneurs who transform organisations into innovative, responsible enterprises that bring value to the world, engines of prosperity, providing opportunity and market growth in emerging and established economies. The programme includes a New York City Field Trip. Education at CEU Business School represents a dynamic balance between the latest theory and practice, involving case studies, application of the latest technology, boardroom simulations and action learning projects in the field. Students are part of a diverse, sophisticated and engaged community. CEU Business School prides itself on making its MBA programmes available to any qualified candidates while adhering to the highest standards of excellence. Programme Presentation CEU Business School currently offers the following AMBA-accredited US degree programmes:

• Accelerated One-Year MBA: This 12-month programme is comprehensive and intensive. Its curriculum is modern, emphasising entrepreneurship, innovation, action learning, leadership, ethics and finance • Katalyst Executive MBA: This 22-month programme is designed for working executives, entrepreneurs and other professionals who want to advance their careers without interrupting their professional lives. Courses take place every third weekend • IMM Global Executive MBA: Students study at partner institutions in 2-week modular sessions. Participants have an average of 13 years of work experience Admission Requirements: • Online Application Form and Professional Resume/CV • A copy of undergraduate diploma and transcripts • A statement of purpose (essay) • GMAT or GRE score report (not required for Katalyst EMBA and IMM) • English Language Proficiency/TOEFL or equivalent exam score report

Rankings: Type of Programme: Programme Format: Content Strength or Specialisation: Languages Courses: Application Deadlines:

Starting Dates: Exchange Programme:

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Admission Requirements University Degree: Yes GMAT: 603 (average), waived for EMBA TOEFL: CBT 230, PBT 570, IBT 88 References: Two Minimum Length of Work Experience: 1-Year MBA - 3 years, Katalyst EMBA - 5 years, IMM EMBA - 5 years

Costs

Programme Info: Accreditations:

Male Female Ratio: 1-Year MBA programme: 62/38% Katalyst EMBA (weekend): 73/27% IMM EMBA: 87/13% Age Range: 24-52 Average Age: 1-Year MBA programme: 33 Katalyst EMBA (weekend): 34 IMM EMBA: 37 Degree Background: Engineering: 20%; Business/Commerce: 17%; Economics: 16%; Management: 8%; Other: 29% (Law, Finance, Computer Science, Marketing & PR) International Students: 1-Year MBA programme: 72% Katalyst EMBA: 36% 1-Year & Katalyst EMBA: 100% IMM EMBA: 100%

Association of MBAs (AMBA) Consistently highly ranked in Europe by international and regional employers Accelerated One-Year MBA; Katalyst Executive MBA; IMM Global Executive MBA (modular multi-campus) Accelerated One-Year MBA -12 months; Katalyst Executive MBA (every 3rd weekend) - 22 months; IMM Global Executive MBA - 19 months Business and Sustainability; Entrepreneurship; Marketing; Finance English Accelerated One-Year MBA programme: Scholarship Application Deadline: end of January, General Application Deadline: June 30 Katalyst Executive MBA (every 3rd weekend): In general one month before the October and March programme starts IMM Global Executive MBA: February 28 Accelerated One-year MBA: September Katalyst Executive MBA (weekend): October, March IMM Executive MBA: March 9 schools in Europe, 4 schools in North America, 2 in Latin America and 5 in Asia, with no additional tuition fees

Application Fees: 40 USD for full-time programmes Tuition Fees: 1-Year MBA: 15,500 EUR Katalyst EMBA: 16,000 EUR IMM EMBA: 75,000 EUR Scholarships: 15% tuition reduction for Alumni of all CEU Degree programmes;

Contacts Name: Marketing, Recruitment & Admission Office Email: [email protected] Telephone: +36 1 887 5014 Website: business.ceu.edu

MBA INTERVIEW

Rethink the Way Business is Conducted How would you describe CEU Business School today?

CEU Business School is a dynamic, supportive environment that challenges professionals at all stages of their careers — from recent graduates to senior executives— to rethink the way they conduct business. We provide them with theory and ideas, engage them in debate, and give them examples and practical experiences—all of which help them grow as leaders. And we do this using a range of teaching approaches, including case studies, action learning in firms, new courses on such avant garde subjects as design thinking and financial strategy, our new NYC-based MBA module and a special course in our incubator, CEU InnovationLabs, that asks students to develop an actual new venture.

What do you think differentiates CEU Business School from other schools?

CEU Business School is a uniquely valuable institution. Created and operating as a world-class business school with the very best in innovative teaching approaches and professional standards, the School is also rooted and deeply involved in a world that has undergone great change. Indeed, the School is part of that change. Thus, we blend global professionalism with a deep understanding of the emerging world. We can serve -- perhaps better than almost any institution in the world -- executives, entrepreneurs, SMEs and multinationals, aiming to prosper in the fastest-growing part of the globe. And we have been doing this for over 25 years.

Where do you want to see the Business School 25 years from now?

I believe the next 25 years will be even more exciting and meaningful for CEU Business School than its first quarter century.

open branch campuses in other locations. It will more likely mean partnering with other institutions, using technology in smarter ways, and teaching and conducting curriculum development with academic and corporate partners.

Who do you think should get an MBA degree and why?

It is important to remember that there is no single rigid “MBA”. The reason why the MBA is the most popular and soughtafter degree on the planet is because of its inherent capacity to adapt to changing times and conditions. Previously, the MBA was for students who generally wanted to work in larger corporations, investment banking and management consulting, mostly in what was called “the advanced world”. That is no longer the case today. MBA students in increasing numbers are working for SMEs. Others want to be entrepreneurs, work in entrepreneurial enterprises or serve entrepreneurs as VCs, etc. Some MBA students will spend much of their professional lives as independent free agents serving a number of clients in some fashion, and this will certainly become increasingly common in an age of outsourcing, corporate de-massing and networked ecosystems of various kinds.

Mel Horwitch Dean and Professor CEU Business School Mel Horwitch is Dean and University Professor at Central European University Business School, located in Budapest, Hungary. Previously, he was Professor of Technology Management, Director of the Institute for Technology and Enterprise, former Chair of the Department of Technology Management, Founding Director of the Othmer Institute for Interdisciplinary Studies, and Faculty Director of the CleantechExecs Executive Program at the Polytechnic Institute of New York University. Professor Horwitch is an acknowledged expert on entrepreneurship and innovation management.

Leveraging our CEE heritage, our success in bridging all of Europe, and our experience in bringing best practices to uncertain environments, we now are able to carry out our mission on a much larger scale than before. Moreover, we can serve regions of the world where quality business education has traditionally been out of reach – either because of geographic or financial access. That does not necessarily mean we will

On top of all this is the importance of acting with integrity. In a world rife with questionable business practice and rampant corruption in certain regions, the MBA holder must also understand and uphold the need in business to act within a moral compass, thereby earning the trust and respect of colleagues and external stakeholders. All such new and essential attributes make the MBA as valuable and as needed as ever. This is the kind of MBA education that CEU Business School is committed to providing for its students. □ M.H.

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MBA SCHOOL PROFILE

Transformational Management Education U nited K ingdom Student Body

The Cranfield Full-time MBA Cranfield is an exclusively postgraduate university, a global leader for education and transformational research in technology and management. The School of Management grew out of industry’s need for management training. We are known for our excellence in leadership development, for our powerful industry links and our real-world focus. In 2017, Cranfield School of Management celebrates 50 years. Five decades of making a difference, five decades of growing people to become exceptional leaders. To mark this special year, we are delighted to announce our 50th Anniversary Scholarships for Fulltime and Executive MBA students. You are invited to join our class of 2017 and enter a global community of alumni, business partners, fellow students, friends and supporters, collectively striving to improve the practice of management. Programme Presentation Our Full-time MBA Programme is an intensive one-year programme designed to

help our students develop robust leadership skills and become proficient in a broad range of management techniques. This allows them to thrive in a world where relevant management skills are at a premium and where business practices evolve rapidly as the pace of business increases. The programme will give you the opportunity to immerse yourself fully in your studies. It will allow you to: • Create and implement your own leadership development plan, setting a vision for where you want to be professionally and how you are going to get there. • Prepare for and find a professional role that suits you based on your personality, skills, experience and career aspirations. • Develop a sophisticated understanding of the core aspects of business and finance, as well as enhance skills such as self-awareness, teamwork and resilience. • Grow your confidence and competence to take on new challenges. • Build relationships with and learn from experienced, like-minded professionals from all around the world.

Programme Info: Accreditations:

Rankings:

Type of Programme: Programme Format: Content Strength or Specialisation: Languages Courses: Application Deadlines: Starting Dates:

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AMBA, EQUIS, AACSB 13th in the world, 4th in the UK and 1st for student experience Bloomberg Businessweek’s Best Business Schools Rankings 2015 Ranked 6th overall and 2nd in the UK in Forbes’ ranking of The Best International MBAs: One-Year Programmes Ranked 1st in the world for Organisational Behaviour and 3rd in the world for Economics by the Financial Times 1-year MBA Programme Full-time Leadership, Entrepreneurship, General Management English 30 October 2016* 29 January 2017* 9 April 2017 25 June 2017 September

Ratio of Applicants to Places: 4/1 Male Female Ratio: 3/1 Average Age: 32 Degree Background: Graduates GPA 3+ International Students: 83% Europe: 34% North America: 2% Oceania and Asia: 50% Africa: 7% Latin America: 7%

Admission Requirements University Degree: 2:2 UK Equivalent or GPA 3+ GMAT: 600 TOEFL: 100 or IELTS: 7 References: Two Minimum Length of Work Experience: Three (Post-graduate)

Costs Tuition Fees: 36,000 GBP Scholarships: Various

Contacts Name: Alice McCracken Email: [email protected] Telephone: +44(0)1234758008 Website: www.cranfield.ac.uk/MBA

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Personal Innovation. State-of-the-art Education. Inspiring Campus. Danube Business School

Top Managers and Entrepreneurs

Academics and Future Leaders

The competences of Danube Business School mirror current issues in the international business world. We bundle specialist expertise and thus create high quality further education courses, tailor-made to the future qualification requirements of our students.

> Executive MBA Innovative General Management program for executives and entrepreneurs. Leadershipexperienced students will learn the latest management techniques, and at the same time, they will expand their professional and personal capabilities to get a better understanding of modern management know-how. The program includes academic and corporate programs in Hongkong – HKUST (# 1 in Asia) and Silicon Valley, Stanford University.

> International Business MSc is designed to provide students with an indepth understanding of the global practices across the spectrum of business fields with several attractive study programs abroad.

All programs link theory and practice in a unique learning experience and teach selected management instruments, as well as valuable personal skills. Accreditations:

> Professional MBA for managers in or on the way to leadership positions who would like to complete a stateof-the-art general management education with specific functional or industrial specializations.

Danube University Krems. Danube Business School. Austria – Europe. www.donau-uni.ac.at/business-school

> MSc Finance Advanced knowledge and skills for future chief finance officers. Attractive study program at UBC (Vancouver), Canada. > Master in Business Administration is designed for university graduates holding a degree min. 240 ECTS worth who want to enhance their employment and career prospects within one year.

MBA SCHOOL PROFILE

A Top Tier Worldwide Academic Institution S PA I N Student Body

ESADE Business School, established in Barcelona in 1958 as a non-profit organisation, is internationally recognised for the excellent standard of its programmes in management and is accredited by the world’s three most respected management education organisations: AACSB, EQUIS and the Association of MBAs. ESADE achieves consistently high positions in global rankings. It has been ranked by the Financial Times among the the top five European business schools for four consecutive years. The internationalisation of ESADE has been one of the factors most positively considered by this ranking as it is highly valued for the number of international companies who recruit students from the school, as well as the number of foreign participants in the classroom. Programme Presentation Why the ESADE MBA? • The most international experience you’ll

ever have. 95% international students in class, global exchanges, internships and study treks and over 50,000 alumni around the world. • Tailor-make your MBA in 12, 15 or 18 months and with a huge variety of electives and 5 specialised business labs to make your experience your own. • Real world challenges, in an MBA where we learn by doing. Action Learning Consultancy Project, Challenge Based Innovation with CERN, Case competitions and international growth challenges with global business schools. • MBA ranked 8th in Europe and 19th in the world (Financial Times 2016). 1st Best Programme in Europe for Placement Success (The Economist 2015), 2nd for Salary Increase (Financial Times 2016) and 3rd for Student Satisfaction (Financial Times 2016). • 68% average salary increase after graduation. • Experience Barcelona: ranked as one of Europe’s top cities in which to live.

Programme Info: Accreditations:

AACSB, EQUIS and the Association of MBAs

Rankings:

8th in Europe, 23rd in the world (The Financial Times 2016)

Type of Programme:

Full-time MBA

Programme Format:

12-15-18 months

Languages Courses:

Specialise in Entrepreneurship, Family Business, Finance, Innovation, or Marketing through our Business Labs, gaining certification in these areas English

Application Deadlines:

Rolling admissions process, all year round

Starting Dates:

September 2016

Exchange Programme:

40 top exchange schools around the world

Percentage of salary increase after graduation

68%

Content Strength or Specialisation:

100

Male Female Ratio: 69/31% Average Age: 29 International Students: 95% (167 students in total) Europe: 26% North America (US & Canada): 11% Middle East: 4% Asia Pacific: 30% Africa: 1% Latin America: 28%

Admission Requirements University Degree: In any field GMAT (average): 660 Minimum Length of Work Experience: Two years / Average: Five years

Costs Application Fees: 135 EUR Tuition Fees: 61,700 EUR

Contacts Name: Admissions Email: [email protected] Telephone: +34 934 952 088 Website: www.esade.edu/ftmba

RAISE YOUR GAME Full Time MBA The Full Time MBA is a top-ranked flexible programme that will increase your management and business knowledge and leadership skills in a multicultural, co-creative environment combining the expertise of a prestigious Business School with the cosmopolitan business city of Barcelona. You will create you own and unique MBA experience that will prepare you for a successful career.

Why the Full Time MBA?

More information

· 5th Best Business School in Europe Financial Times 2015.

Tel. +34 934 952 088

· Choose the length of study: 12-15-18 month tracks.

www.esade.edu/ftmba

· Global Experience through an Exchange Programme, Global Study Tours, Career Treks, and Internships. · Diversity: 95% of international students and 50 nationalities in class. · Specialisation in one of our 5 Business Labs. · Real World Challenges with CERN, the ESADE Creapolis ecosystem of companies and startups and partner schools around the world.

theESADEmba

MBA SCHOOL PROFILE

EU Business School: Excellence in Business Education EUROPE Student Body

Kazakhstan, Canada and Russia among others. Geneva, Montreux, Barcelona, Munich

Programme Presentation

The EU Group is a network of professionally accredited, multicultural, high-ranking business schools established in 1973. In addition to small, dynamic classes offered in English, EU students also enjoy a global environment while getting the best of both North American and European academic curricula.

Graduate students across all of our campuses benefit from maximum flexibility, with a number of study options that can suit their individual requirements and needs. EU MBA options are offered in: International Business; Communication & PR; International Marketing; Global Banking & Finance; Leadership; and E-Business, among others. The programs last one year, full time, or two years, part time, and require students to complete a dissertation.

We offer various programs at master’s (MSc/MBA) level, both onsite and online, in majors such as Business Administration; Communication & Public Relations; Leisure & Tourism Management; Business Finance; Sports Management; International Relations; International Business; Entrepreneurship; and E-Business. The EU Group has a global network of campuses, and we encourage students to participate in exchange opportunities within the EU Group in Barcelona, Geneva, Montreux and Munich, and with partner institutions in the U.S.A., China, the U.K., Thailand, Malaysia, Taiwan, Mexico, Brazil,

University Degree: A bachelor’s degree from an accredited college or university GMAT (average): Satisfactory TOEFL: 233 (computer-based), 89 (internet-based), 577 (paper-based) References: Two Minimum Length of Work Experience: Three years

Our Online MBA program, which mirrors the on-campus version, has now been ranked best online MBA in the world two years in a row by CEO Magazine.

Costs

ACBSP, IACBE, CEEMAN IQA, EDUQUA

Type of Programme:

Online MBA – number one in this year’s CEO Magazine global online rankings MBA – ranked top tier in Europe in this year’s CEO Magazine global online rankings Executive MBA – ranked top tier globally Full-time MBA, part-time MBA, Online MBA, Executive MBA

Programme Format:

Full-time, part-time, and online

Rankings:

Content Strength or Specialisation: Application Deadlines: Starting Dates: Exchange Programme: Percentage of salary increase after graduation

102

16 different graduate pathways to choose from Language Courses: The English Foundation Program is provided to students who want or need to improve their level of English before their Master’s studies Rolling admissions October, January, March Transfer to any of the four main campuses after any completed term. We also have exchange programs with a long list of other universities around the world 138%

Admission Requirements

EU students also have the option of gaining a U.K. state-accredited MSc in International Management or an MBA, awarded by the University of Roehampton, in addition to their EU MBA; or completing a full graduate degree, awarded by the University of Roehampton on EU’s Barcelona and Munich campuses.

Programme Info: Accreditations:

Ratio of Applicants to Places: 10/7 Male Female Ratio: 46/54% Age Range: 22-35 Average Age: 26 Degree Background: Business,Engineering, Sciences International Students: 99% Europe: 60% North America: 5% Central/South America: 14% Middle East: 5% Oceania and Asia: 10% Africa: 5%

Application Fees: 200 EUR Tuition Fees: Barcelona - 5,500 EUR per term + 3,000 EUR advanced tuition payment Switzerland - 11,200 CHF per term + 3,000 CHF advanced tuition payment Munich - 6,000 EUR per term (Terms I + II) 6,500 EUR per term (Term III) + 3,000 EUR advanced tuition payment Scholarships: Merit-based scholarships, low-interest student loans or even financial aid from employers

Contacts Name: Admissions Department Email: [email protected] Telephone: +34932018171 Website: www.euruni.edu/euruni/ Admissions/EU-Business-SchoolAdmissions.html

MBA INTERVIEW

EU Prepares You for the Working World Could you please describe your MBA/EMBA/Master’s programmes?

Could you describe your programme’s structure and curriculum?

At EU, we believe in providing a comprehensive business education that prepares our students to move straight into the real world. To this end, we focus on pragmatic teaching.

EU MBAs are made up of three terms, a dissertation and a variety of seminars and industrial visits which provide a solid background to enter the working world. The first two terms form a solid foundation of business knowledge, covering many different aspects of business to allow students to adapt. During these terms, the online business simulation programme is introduced. This enables students to put what they have learned into practice.

Our case studies are a tried and tested method of giving students engaging material that they can use to apply the theory they have learned in the classroom. Taking this one step further, we now enter students into a web-based competitive business simulation. This gives participants business decision-making experience, as close to real-life as possible, in a classroom environment.

What is your school doing to remain at the forefront of business and management thinking? Many faculty members at EU are actively involved with their own businesses, giving the school years of experience to draw on and an active eye on shifting trends in the market. With this valuable knowledge, we are able to continually review and adapt course content to remain relevant in today’s business context. Our wide use of industrial visits and expert guest speakers allows our students to experience first-hand the business practices that they have learned about in class. Students ask our guests personally relevant questions, which not only gives them a deeper understanding of common practices, but often opens up new avenues of thought.

What type of candidates are you looking for? At EU, we believe that an important part of education is the sharing of ideas

Christine Clarke

Barcelona Academic Dean EU Business School

In the third term students choose from 12 majors such as International Business, Communication & Public Relations, Global Banking & Finance and Sports Management. The third term is when students develop a specialisation using the essential business concepts learned in the first two terms.

Clarke’s relationship with EU dates back 19 years to 1995, when she was invited to deliver a course: Professional Communications Dynamics. Since then she has taught various subjects including sales and purchasing, management, strategy, entrepreneurship and specialist English. She also coordinates course development. Dean Clarke is an entrepreneur and self-starter, and has established her own language and communications businesses. She keeps a keen eye on market and academic progress, and continually tweaks her teaching style to remain at the forefront of business education.

To finish the course, students complete a challenging post-course dissertation, which they must defend in front of a panel.

What types of organisations tend to employ your graduates the most?

between students. Therefore, dedicated and ambitious classmates provide more varied and in-depth discussion. This is why we look for young-spirited, internationally minded individuals who can both contribute to and benefit from the dynamic, diverse environment of EU programmes.

What makes your MBA/EMBA/ Master’s special? Diversity makes EU as a whole stand out. We have a notably even gender balance and a truly multinational student body. Another aspect is our focus on applicable theory – EU prepares students not just for exams, but for the working world.

The organisations are as diverse as our students! From starting their own businesses or being employed in growing start-ups to employment in medium-sized businesses and MNOs.

What advice would you give to potential candidates? To ensure they take care of their soft skills development. Recruiters are increasingly taking technical skills for granted and basing recruitment decisions on leadership, team and communication skills, along with an international mind set and adaptability, all of which we are looking to develop in our successful candidates. □

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EDHEC GLOBAL MBA Change Yourself, Change the World FRANCE Student Body

Programme Presentation EDHEC Business School has been providing first-class management education for more than 100 years and is constantly ranked among the Top 5 Business Schools in France. EDHEC aims to be recognised for its high-quality research and education and for innovative ideas and tools that impact business. This “EDHEC for Business” strategy is underpinned by excellent academic research, the results of which are systematically disseminated through EDHEC’s academic programmes, and to the business world and society at large. EDHEC holds the ‘Triple Crown’ of international accreditations (AACSB, AMBA, and EQUIS). Key facts : • 5 campuses: Lille, Nice, Paris, London and Singapore • 7,000 students and 10,000 participants in Executive Education, conferences and seminars organised in 28 global economic capitals • 20 degree programmes: Undergraduates, Master’s in Management, Master’s of Science, MBAs, PhD • Over 30,000 graduates in 120 countries • 142 permanent faculty • 13 research and teaching chairs

A 10-month, Full-time MBA, entirely in English in Nice in the South of France EDHEC GLOBAL MBA is the ideal programme, for: • professionals who wish to give a stagnating career a boost • those with a specialised background wanting to develop general management know-how • professionals moving to another field • those thinking of starting their own company

Admission Requirements

Ranked in the Financial Times 2016: N°3 in France, N°84 in the World, N°3 Worldwide for “Value For Money”. The Economist 2015: N°10 in Europe, N°34 in the World, N°2 Worldwide for “Educational Experience”.

Costs

Our guaranteed scholarships offer reductions of up to 50% through GMAT/ GRE, Nationality, or others. EDHEC GLOBAL MBA offers two Global Business Trips to South Africa and to London, Singapore or San Francisco, depending on track choice. (included in the fees) EDHEC’s exclusive CareerSMART is integrated into the curriculum and is designed to give participants an intensive look at their career aspirations from the beginning of their MBA.

Programme Info: Accreditations: Type of Programme: Programme Format: Content Strength or Specialisation: Languages Courses: Application Deadlines: Starting Dates: Percentage of salary increase after graduation

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Male Female Ratio: 56/44% Age Range: 27-47 Average Age: 33 Professional Experience: 8 years International Students: 96% International students, 32 Nationalities

AACSB, AMBA, EQUIS General MBA 10-month Full-time MBA The ability to choose between three tracks: Global Finance (Trip to London), Entrepreneurship (Trip to San Francisco) and Leadership (Trip to Singapore) English 30 June and 30 November September or January Increase on pre-MBA salary 77% (Economist Ranking 2015)

University Degree: Bachelor’s GMAT: Compulsory English Test(s): English tested at Interview References: Two Minimum Length of Work Experience: Three years

Application Fees: 100 EUR Tuition Fees: 41,000 EUR September 2016 and January 2017 intakes – includ¬ing the two Business Trips (plane tickets, accommodation and most of the food)

Scholarships: Excellence: 50% reduction for candidates with a GMAT score of 720 or over Premium: 40% reduction for candidates with a GMAT score of 650-710 Merit: 30% reduction based on GMAT and academic potential 1st Nationality: 20% reduction for the first three candidates of each nationality to enrol

Contacts Name: Françoise Evangelisti, Nikki Harle and Lucas Malki Email: [email protected] Telephone: +33 4 93 18 78 56 Website: www.edhec-mba.com

MBA SCHOOL PROFILE

Bringing Business to the Classroom – and the Class to Business! GERMANY Student Body Male Female Ratio: 53/47% Age Range: 24-36 Average Age: 29 Degree Background: Diverse. First degree mandatory International Students: 80%, 23 Nationalities Frankfurt School offers a suite of internationally accredited and ranked MBA and EMBA programmes catering to the needs of professionals at every level of management. Our programmes are offered both full and part-time and follow the participant-centred learning approach developed by Harvard Business School. During our career and personal development oriented MBAs you will gain a transformational learning experience which will prepare you for the next level of leadership. We bring business to the classroom and offer valuable networking opportunities, company visits and executive talks to learn from the best. Earn your MBA with specialisations like general management & leadership or international healthcare management in the economic heart of Europe! Programme Presentation The Frankfurt MBA; available as a full-time and part-time programme, builds on 60

years of teaching and research at Frankfurt School, one of Germany’s top-ranked business schools. Our value proposition for you: • Transformational learning experiences • Comprehensive career development • German excellence, global relevance We prepare you for your further career with hands-on and up-to-date case studies, industry networking and company visits. Highlights of The Frankfurt MBA: • Europe’s economic capital is the ideal location for your MBA • Global perspectives and international student community • Two international study trips to FT topranked business schools • Intensive German lessons to maximise your job chances • Outstanding faculty and executive talks: In the Boardroom • Strong career and personal development

Admission Requirements University Degree: Yes GMAT (minimum): no minimum, alternatively Frankfurt School Admission Test TOEFL: min 90 or IELTS 6,5 References: Two Minimum Length of Work Experience: Two years

Costs Application Fees: none Tuition Fees FT: 31,900 EUR Tuition Fees PT: 34,900 EUR Scholarships: partial scholarships available

Contacts Email: [email protected] Telephone: +49 (0)69154008-809 Website: www.fs.de/mba

Programme Info: Type of Programme: Programme Format: Content Strength or Specialisation: Languages Courses: Application Deadlines: Starting Dates: Exchange Programme:

MBA Available as full-time (12 + 3 months) and part-time (16 weekends + 2 block weeks) General Management & Leadership. Strong focus on career development FT and personal development PT Lectures in English, Full-time MBA offers free German classes 30 Nov: 5,000 EUR Early Bird Deadline 28 Feb: 2,500 EUR Early Bird Deadline 31 May: Scholarship Deadline 31 July: Final Application Deadline October Full-time: 2 modules abroad in Bocconi/Milan and Norwegian BS/Oslo Part-time: 1 module abroad at top ranked BS in USA or Asia

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MBA SCHOOL PROFILE

Educating Tomorrow’s Business Leaders spain Student Body

IE Business School is one of the world’s top international business schools. A pioneer in business education, IE shapes tomorrow’s business leaders with an innovative approach and acts as a catalyst for the creation of new businesses. IE Business School’s MBA programmes have been met with worldwide acclaim. Featuring highly in Financial Times, The Economist and Business Week business school rankings, these programmes elevate IE to the position of a global leader in business education and cement an already proven reputation. Catering to the real needs of the corporate world, IE Business School offers a number of formats to ensure utmost flexibility in its programmes. Programme Presentation The one-year Full-time International MBA minimises time away from your professional career while offering students far more than just the average MBA degree. The programme is held at our urban Madrid campus, giving participants the chance to earn their MBA degree in one of the greatest capitals of Europe.

The Global MBA programme, considered the #1 Online MBA Worldwide (Financial Times, 2016), is aimed at professionals with an average of 10 years of experience. The programme is designed especially for professionals who wish to polish their strategic business vision, leadership and team management skills to meet the requirements of a modern leader. The Global Executive MBA is a programme tailored for senior executives with transnational responsabilities and a need to grow from an international perspective. The IE Brown Executive MBA is a programme taught in collaboration with Brown University, which combines management with liberal arts in Spain, US and South Africa. The IE-SMU MBA is an intensive 13-month MBA programme designed by IE Business School and Singapore Management University to mould top leadership talent in Asia. These two programmes combine face-toface studying with online learning.

Rankings: Type of Programme: Programme Format: Languages Courses: Application Deadlines: Percentage of Salary Increase after Graduation:

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Admission Requirements International MBA: Bachelor’s degree and GMAT or IE Admissions test and professional experience Global MBA: Bachelor’s degree and GMAT or IE Admissions test and professional experience Global Executive MBA: Bachelor’s degree and managerial experience IE Brown Executive MBA: Bachelor’s degree and managerial experience

Costs Application Fees: 125 EUR Tuition Fees: International MBA: 65,000 EUR Global Executive MBA: 75,000 EUR Global MBA: 44,700 EUR Executive MBA: 55,200 EUR IE Brown Executive MBA: 130,000 USD IE-SMU MBA: 74,900 SGD Scholarships: www.ie.edu/financialaid

Contacts

Programme Info: Accreditations:

Male Female Ratio: 70/30% (programmes vary) Age Range: International MBA: 29 Global MBA: 30+ Executive MBA: 35+ Global Executive MBA: 37 IE Brown Executive MBA: 37 IE-SMU MBA: 30 Degree Background: Varies International Students: 90%

AACSB, EQUIS, AMBA #5 European Business School; Ranked among the top 3 in three consecutive years; #1 Worldwide Online MBA programme MBA Full-time, Part-time and Blended (online and face-to-face periods around the world) MBAs are in both English and Spanish Rolling admissions process Please check the websites of specific programmes

Name: Admissions Department Email: [email protected] Telephone: +34 91 568 96 00 Website: www.ie.edu/mbas

MBA SCHOOL PROFILE

HEC Paris MBA: A Leading Global MBA HEC FRANCE Student Body

Programme Presentation HEC Paris is Europe’s premier business school. With more alumni in CEO positions than any other continental business school, it is the alma mater of CEOs in Europe, with those of BestBuy, L’Oreal, Kering, Lafarge, AXA and the Executive Vice President of Havas Worldwide hailing from HEC Paris, to name but a few. As well as gaining access to our alumni network of 52,000 worldwide, our students benefit from HEC Paris’ proximity to La Défense, the epicentre of European business with the highest concentration of multinational corporation headquarters on the continent.

At HEC Paris, we offer two different MBA options to our students: Full-time (16 months) or Part-time (18 to 24 months). Our curriculum, redesigned in partnership with Bain & Company, has two phases. The Fundamental phase provides our students with advanced knowledge in essential business disciplines. Students thus acquire the key skills that are essential in carving out a career in business. The Customised phase is more flexible in nature, giving participants the opportunity to tailor their MBA by choosing from a range of electives and fieldwork projects or by taking part in an international exchange.

Our students constantly come into contact with different backgrounds throughout the MBA programme: our 200-strong student body is made up of 90% international students, with a wide range of academic and professional experience.

Our ability to create business leaders has been proven: 90% of our graduating class find work within three months of graduation, with Amazon, Google, Goldman Sachs, McKinsey and L’Oréal amongst our top MBA recruiters.

Male Female Ratio: 70/30% Age Range: 25-35 Average Age: 30 International Students: 92% Africa: 4% East and South Asia: 24% Central Asia: 16% Eastern and Central Europe: 5% France: 8% Latin America: 14% Middle East: 4 % North America: 13% Oceania: 1% Western Europe: 11%

Admission Requirements University Degree: Yes GMAT (Minimum): Average 690 GRE (Minimum): Quantitative Reasoning 65th percentile, Verbal Reasoning 65th percentile TOEFL (Minimum): 100 (IBT); 260 (CBT); 600 (PBT) IELTS (Minimum): 6.5 Min PTE: 72 TOEIC (Minimum): 340 (speaking & writing) References: Two online forms to complete Minimum Length of Work Experience: Between 2 and 10 years of professional working experience

Costs Programme Info: Accreditations: Rankings: Type of Programme:

AMBA, EQUIS, AACSB The Economist: #1 MBA in Europe (2015), #5 Worldwide (2015), the Financial Times Global MBA Ranking: #15 Worldwide (2016), America Economia: #4 Worldwide (2015). HEC Paris has been consistently ranked #1 Business School in Europe by the Financial Times since 2006. Generalist MBA

Application Deadlines:

Strategy, Marketing, Advanced Management in Global Enterprises, Entrepreneurship, Finance Rolling

Starting Dates:

September and January

Exchange Programme:

12 Double Degrees, over 40 academic partnerships worldwide

Course Specialisations:

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Application Fees: 200 EUR Tuition Fees: 56,000 EUR Scholarships: Available after admission

Contacts Name: Admissions Office Email: [email protected] Telephone: + 33 1 39 67 95 46 + 33 1 39 67 73 83 Website: www.mba.hec.edu

MBA SCHOOL PROFILE

Making Connections, Accelerating Careers U nited K ingdom Student Body

Programme Presentation

LEEDS UNIVERSITY BUSINESS SCHOOL boasts a growing number of international accolades reflecting the excellent teaching and learning experience we offer and our commitment to your future career. We are a triple accredited, world ranked and award winning business school. Our MBA is 98th in the world (Financial Times Global MBA Rankings 2016) and two of our Masters – MSc Accounting and Finance and MSc International Business – feature in the prestigious Financial Times Global Rankings. The School is part of the University of Leeds, a leading institution in enterprise, having been awarded ‘Entrepreneurial University of the Year’ (Times Higher Education Awards 2015) and the Duke of York Award for University Entrepreneurship (National Business Awards 2015). We are located in the City of Leeds, a hub for financial services and home to many national and international companies, such as Ernst & Young, Asda-Walmart and KPMG. Meaning that Leeds is the ideal place for those looking to develop their career or expand their own business.

The Leeds MBA combines academic rigour with practical leadership development challenges that mean you’re ready for senior management-level positions as soon as you graduate. Our core programme covers the broad fundamentals of business management. You gain an understanding of the key components of business – marketing, accounting, finance, operations and human resource management. Alongside these subjects you will explore how to manage and lead people in organisations. A key aspect of The Leeds MBA is the live challenges that will stretch your thinking and your abilities. We encourage you to develop your knowledge and links with the corporate world through our business speaker events and international study tours. The MBA culminates in your Individual Project – this can be a consultancy project, an entrepreneurial project relating to a new business venture or a research dissertation. Drawing on the strengths of a vibrant city, a highly ranked University and contacts with companies in various sectors, our fulltime MBA offers a top-quality learning and development experience.

Programme Info: Accreditations: Rankings: Type of Programme:

AMBA, EQUIS and AACSB The Leeds MBA is ranked 98th in the world (Financial Times Global MBA Rankings 2016) Full-time

Programme Format:

A 12-month programme including a combination of lectures, tutorials, workshops and challenges

Content Strength or Specialisation:

Entrepreneurship, Finance, International Business, Leadership, Marketing and Strategy

Languages Courses:

Programme specific pre-sessional courses available at the University of Leeds Language Centre

Application Deadlines:

30 June 2016/30 June 2017

Starting Dates:

September each year

Percentage of salary increase after graduation:

79%

Male Female Ratio: 43/54% Age Range: 25-40 Average Age: 30 Degree Background: Students will be accepted with any degree discipline, the degree discipline of our students varies every year however common degree backgrounds include business, engineering, computing, health care, maths and communications studies. International Students: Europe: 16% Central/South America: 3% Middle East: 10 % Oceania and Asia: 66 % Africa: 3%

Admission Requirements University Degree: Equivalent to a UK upper second (2.1) GMAT: not required IELTS: 6.5 with no less than 6 in each component is preferred TOEFL IBT: minimum overall score of 92 in the Internet-based test with at least 21 in listening, 21 in reading, 23 in speaking and 22 in writing References: Two references; one academic and one employer Minimum Length of Work Experience: At least three years’ postgraduate work experience is required before you apply. This should include appropriate supervisory or management experience

Costs Tuition Fees: 25,000 GBP Scholarships: Available and worth up to 50% of the tuition fee

Contacts Name: MBA admissions Email: [email protected] Telephone: +44 (0)113 343 4908 Website: www.business.leeds.ac.uk ACCESS MBA GUIDE 2016-2017

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MBA SCHOOL PROFILE

A Unique Learning and Networking Experience MONACO Student Body

Programme Presentation The International University of Monaco is a private business school recognised and certified by the Government of Monaco. IUM offers students a thorough Business education in English in a highly diverse cultural environment. IUM proposes graduate degrees in Business Administration, Finance, Luxury Management, Marketing, Sport Business Management and International Management.

The IUM’s AMBA accredited MBA is ranked among the top 100 programmes in the world (The Economist). In addition to its strong international environment, IUM offers small class sizes and individualised attention in one of the safest states in the world. IUM’s graduates occupy leading management positions all around the world, and a degree from IUM is a passport to valuable contacts worldwide.

Ratio of Applicants to Places: 1 place for 3 applications Male Female Ratio: 40%/60% Age Range: 28 -52 Average Age: 32 Degree Background: Bachelor’s or Master’s degree International Students: 100% Europe: 56% North America: 12% Central/South America: 8% Middle East: 4% Oceania and Asia: 20% Latin America: see Central/South America

Admission Requirements University Degree: Bachelor’s or Master’s degree GMAT: 550 recommended TOEFL: 79 minimum References: One reference letter requested Minimum Length of Work Experience: Three years

Costs Application Fees: 100 EUR Tuition Fees: 32,500 EUR Scholarships: Merit-based scholarship available - up to 5,000 EUR

Contacts Programme Info: Accreditations:

AMBA accredited

Rankings:

Ranked number 83 by the Economist

Type of Programme:

Full-time and online

Programme Format: Content Strength or Specialisation: Languages Courses:

Full-time: 10 months – Online: from 1 to 3 years (flexible)

Application Deadlines:

31st August

Starting Dates: Percentage of salary increase after graduation:

September 2016 for full-time – October 2016 for online

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Luxury Management, Applied Finance, Entrepreneurship & Innovation Programme taught entirely in English

60%

Name: Mrs Diana Nyerges Email: [email protected] Telephone: +377.97.986.996 Website: www.monaco.edu

MBA SCHOOL PROFILE

Live in Paris, Study in English and Advance Your Career! FRANCE Student Body

IÉSEG School of Management is a Top 10 French Business School recognised for the excellence of its programmes, its internationalisation and the quality of its research. It has been accredited by both EQUIS and AACSB and ranked 21st in the Financial Times 2015 Rankings for its Master’s in Management. IÉSEG has over 80% international permanent professors, with 44% of its close to 4,300-strong student body having an international background, representing 98 nationalities. IÉSEG has a strong international mindset, notably seen in its partnerships with more than 235 universities in more than 60 countries, and the fact that over 80% of its permanent professors have multicultural backgrounds and experience. The School is made up of around 4,300 students, nearly 1,900 of whom come from outside of France. French classes are provided to foreign students at all levels, from beginner to advanced. The School has built close relationships with over 2,500 companies. All students, from Bachelor’s to Master’s level, gain experience through placements.

Programme Presentation The International MBA is a one-year fulltime programme taught in English. Its location in Paris La Défense is at the heart of the largest business district in Europe. The curriculum lays a strong foundation of theoretical knowledge, which participants learn to apply in various practical contexts through a combination of case studies and real-life examples. The iMBA programme focuses on the development of the skills, knowledge and expertise necessary for candidates’ next professional challenge. IMBA students receive guidance through small-group workshops and interactions with corporate professionals. In order to complete the iMBA, candidates can create a business plan in collaboration with a “practitioner-instructor” through a placement, a consulting project or a thesis. On a personal level, the Talent Career Support programme is carried out by accredited coaches and tutors and aims to meet each candidate’s specific needs. Trainers within the programme use proven tools and techniques to prepare students individually, not only for their next position, but for their entire career.

Male Female Ratio: 45/55% Age Range: 30 Degree Background: Accounting & Audit, Social Sciences & Humanities, Engineering & IT, Business Administration & Management, Marketing & Communication, Sciences International Students: 14 nationalities Europe: 20% North America: 8% Central/South America: 16% Oceania and Asia: 52% Africa: 4%

Admission Requirements University Degree: Bachelor’s degree in any field GMAT: Recommended, not mandatory TOEFL IBT: min 85 IELTS: min 6.5 TOEIC: min 800 References: Online application with 2 named referees Minimum Length of Work Experience: Three years of full-time and postgraduate work experience

Costs Application Fees: 80 EUR Tuition Fees: 20,000 EUR Scholarships: from 10% up to 50% in the form of a tuition waiver

Contacts Programme Info: Accreditations:

EQUIS and AACSB

Rankings:

21st in the Financial Times (Master’s in Management)

Type of Programme:

Full-time International MBA / part-time Executive MBA

Programme Format: Content Strength or Specialisation: Languages Courses:

12 months International MBA / 18 months Executive MBA

Application Deadlines: Starting Dates:

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General Management English + French courses for non-French speakers Rolling admission process to 27th May for non-European candidates + 24th June for European candidates 29th August 2016

Name: International Recruitment Office Email: [email protected] Telephone: +33 3 20 54 58 92 Website: www.ieseg.fr

MBA SCHOOL PROFILE

Transform your Career and Become an Elite Performer in Business U nited K ingdom Student Body Programme Presentation Transform your career, and become an elite performer in business with The Loughborough MBA, based just 90 mins. from London. Study alongside an international cohort of experienced managers at a Top-10 UK business school, among just 1% of business schools in the world to hold AACSB, EQUIS and AMBA accreditation, with the option to extend your studies to include a 45 to 52-week professional internship. As a first-class university, Loughborough is proud to be ranked 4th in the Guardian University League table 2017. Loughborough is also the only university to have been voted England’s Best Student Experience for six consecutive years in the Times Higher Education league table. As a Loughborough MBA delegate, the time you will spend at the School of Business and Economics will shape who you will become in the most positive way. At Loughborough we believe competition can be rewarding. In order to attract the very best applicants, the School of Business and Economics offers a range of competitive scholarships and bursaries, worth up to 40% of fees. Deadlines apply (applicants should be self-funded and include a personal statement with their application). Applicants may be eligible for other University awards.

Inspiring winners At Loughborough we develop winners. If you want to be an elite performer in business, accelerate your career and learn how to maximise business performance, the Loughborough MBA is internationally respected and will help you achieve your career ambitions. As part of a small, international cohort of professionals with a minimum of 3 years, management experience you will learn how to adapt management theory into powerful, innovative and practical business solutions, and build lasting business networks with your fellow students. You will learn new ways to approach problems, grow in confidence as a decision maker, benefit from other students’ experience, and adapt management theory into powerful, practical strategies to improve your business. Internship opportunities The Loughborough MBA is a one-year programme. However, there is also the option to extend your studies to two years by including a 45 to 52-week internship, giving you a fantastic opportunity to impress potential employers and apply what you have learned.See www.lboro.ac.uk/mba/ programme/options for more details.

Ratio of Applicants to Places: 11/1 Male/Female Ratio: 55/45% Age Range: 24-45 Average Range: 29.8 Number of nationalities: 17 International Students: 89% North America: 10% Latin America: 2.5% Europe: 10.5% Asia: 75%

Admission Requirements University degree: Bachelor’s (or significant work experience) GMAT: Not required IELTS: 6.5 overall average, with at least 6.0 in each component. Applicants without the required IELTS result may be receive a conditional offer subject to reaching the University’s standard IELTS requirement as above TOEFL: iBT Overall score of 92, with not less than 22 in each test. Other English language qualifications: www.lboro.ac.uk/international/ applicants/english References: Covering at least 3 years’ management experience and an academic reference Minimum Length of Work Experience: Average 5.8 years, min 3 years management/professional experience plus degree – see www.lboro.ac.uk/mba

Costs Programme Info: Accreditations:

Rankings:

Type of Programme: Starting Dates: Length of Course:

AACSB, EQUIS, AMBA Top-10 UK business school, 7th for Business Studies in The Times and Sunday Times Complete University Guide 2016, 7th for Finance and Accounting in The Times and Sunday Times Complete University Guide 2016, Loughborough University 4th in the 2017 Guardian University League Table Full-time MBA (1 year or 2 years with optional internship) September Full-time MBA: 12 months Full-time MBA with Internship pathway: 24 months

Tuition Fees: 25,000 GBP (2017 entry) for all MBA programmes Scholarships: Up to 40% of fees

Contacts Name: Frances Capps, (Postgraduate Programmes Administrator) Email: [email protected] Telephone: +44(0)1509 228842 Website: www.lboro.ac.uk/mba ACCESS MBA GUIDE 2016-2017

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MBA SCHOOL PROFILE

The Manchester MBA - Who Will You Become? U nited K ingdom Student Body

Established in 1965 as one of the UK’s first two business schools, Alliance Manchester Business School, The University of Manchester is the UK’s largest campus-based business and management school. Located in Manchester, the home of original thinkers, ‘Original Thinking Applied’ is at the heart of everything we do. We provide industryfocused education to undergraduates, postgraduates and executives, and our influential research impacts business locally, nationally and internationally. We are ranked 2nd in the UK for research power, and 4th for depth and breadth of research (REF 2014), and we are one of few institutions to have achieved triple accreditation from AACSB International, AMBA and EQUIS. Plus, with centres in Dubai, Hong Kong, Singapore, Miami, Shanghai and São Paulo, our reach is truly global. Programme Presentation The Manchester Full-time MBA not only gives you a thorough grounding in business theory, it also gives you the opportunity to

put it into practice from day one with live consultancy project work and internships with high profile multinational corporations. Our unique, hands-on programme gives you more client-facing hours than almost any other MBA programme – nearly six months’ worth – so you can test theories immediately in real world situations and won’t feel completely removed from the commercial environment. You will gain international experience through project work, the international exchange programme, and the chance to take an elective course or study tour at one of our global centres in Dubai, Hong Kong, Shanghai, Singapore and São Paulo. The Manchester MBA will take you out of your comfort zone from day one and encourage you to think, question and find solutions to complex, global business problems. We offer personalised careers support starting before you arrive in Manchester and, in 2015, 87% of graduates looking for work had accepted an MBA level offer of employment within three months of graduating.

Programme Info: Accreditations: Rankings: Type of Programme: Programme Format: Application Deadlines: Starting Dates: Exchange programme: Percentage salary increase after graduation:

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Alliance MBS is part of a small and select group of institutions worldwide that is accredited by all three major bodies - AACSB International, AMBA and EQUIS. Financial Times Global MBA Ranking 2016: We are positioned 7th in the UK, 14th in Europe and 38th in the world. We are ranked 6th in the world, outside the US, by business title Forbes. Full-time MBA 18 months including a 3-month optional internship and a 3-month optional international exchange. The programme can also be completed in 12 or 15 months. Beginning of June for International non-European applicants and beginning of July for UK and European Union applicants. September 2017 Yes 96% within three years (FT Global MBA Ranking 2016)

Ratio of Applicants to Places: 5/1 Male Female Ratio: 65/35% Age Range: 25–35 (middle 80%) Average Range: 29 Degree Background: Diverse International Students: Europe: 23% North America: 5% Central/South America: 8% Middle East: 6% Oceania and Asia: 41% Africa: 3% Latin America: 14%

Admission Requirements University degree: Bachelor’s (or significant work experience) GMAT: 550 / GRE / Manchester Admissions Test English qualification: TOEFL 90 / IELTS 6.5 / PTE 59-65 References: Two professional Minimum Length of Work Experience: Three years, full-time post-graduation work experience

Costs Tuition Fees: 42,000 GBP Scholarships: Up to full fees for UK applicants (3 awards) 5,000 GBP, 10,000 GBP, 15,000 GBP and 20,000 GBP for UK/EU/Rest of world applicants (up to 30 awards)

Contacts Name: Alliance Manchester Business School Email: [email protected] Telephone: +44 (0) 161 275 6414 Website: www.mbs.ac.uk/mba

MBA INTERVIEW

Smart Learning Applied to MBA Programmes MIP is at the forefront of education and designed to take you to the next professional level What are the characteristics of your MBA programme?

The small classes allow for personalised attention. In particular, Career Service representatives offer a unique service, working with candidates and key stakeholders within important companies (Ferrari, Gucci, Pirelli, Whirlpool, Luxottica, P&G, Amazon, to name just a few), to understand both parties’ requirements and find the most suitable matches for in-company projects and placement opportunities.

Our MBA programmes are characterised by a close relationship with partner companies, which actively take part in the design of the MBA programmes. The “smart learning” of all our MBAs is also an important element: the digital approach is a strong component. Our MBAs inherited the tradition of the engineering mind-set, applying an analytical approach and practical experience.

More than 30 companies actively participate in the MBA bootcamps during the programme.

What types of people are drawn to your MBA? Ambition, independence and humility are highly desirable characteristics. We are looking for people who are highly motivated to bring their own personal contribution to the class and to promote diversity. Our International MBA programmes are designed to suit the needs of every prospective student, with a Full-time, Part-time and Digital version available. The new International Executive MBA (i-Flex), developed in Smart Learning in partnership with WOBI, the World of Business Ideas, is entirely taught in English. In addition to the Smart Learning experience and Politecnico’s didactic approach, participants benefit from content quality and the experts’ international outlook in each of the management disciplines addressed. Experts include Martin Lindstrom, Joseph Stiglitz, Nouriel Roubini and inspiring celebrities such as Chris Gardner and Andre Agassi. The i-Flex has been chosen as one of

MIP Politecnico di Milano

What advice do you have for our readers who are thinking about getting an MBA?

Headquarters Building

Based in Milan and founded in 1979 as a Consortium between the Politecnico di Milano several leading public and private companies, today MIP is a not-for-profit consortium limited company. MIP and the Department of Management, Economics and Industrial Engineering together make up Politecnico di Milano’s School of Management, which is involved in all aspects surrounding research and education in the fields of management, economics and industrial engineering.

We tend to suggest an MBA to those candidates who feel they still have some skills missing if they want to become competent managers in a globalised world.

What is your school doing to remain at the forefront of business and management thinking?

the six most innovative MBAs world-wide by a commission of experts from AMBA.

What is the philosophy of your MBA programme? The Programme is designed for talented professionals who want to grow in their career and apply the newly acquired skills back in the workplace.

MIP is part of Politecnico di Milano’s School of Management, together with the Department of Management, Economics and Industrial Engineering (DIG). Through its two constituent bodies – DIG and MIP – the School of Management delivers an end-to-end portfolio of services in research, education and high-level consultancy within the field of management, economics, and industrial engineering. □

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MBA SCHOOL PROFILE

Hands-on International Management GERMANY Student Body

At our private university, students are educated to become senior managers. After its founding in 1991, Munich Business School was able to set benchmarks in the German landscape of higher education particularly in two areas: the international focus and the hands-on approach of the studies have become a distinctive feature of the training at Munich Business School — long before these features were defined as objectives at other universities. Munich Business School creates an environment in which learning, research and personal development, as well as publicspirited actions, are encouraged in many different contexts. The active participants in this procedure are the students, professors, lecturers, companies, international partner universities, alumni and the university’s administration. Top quality training and research is assured through this close and personal contact between all participants.

Programme Presentation The 15-month Full-time MBA in International Management at MBS prepares graduates to work in a complex multicultural world. It is focused on international candidates with a non-business degree, but offers enough depth for business degree holders seeking to further refine and strengthen their education. The Munich MBA is designed to cement business foundations, solidifying the basis for international and multicultural work. Selection of two out of four elective courses, an international focus and individual immersion in a study period abroad, internship, or a global consulting project combine to allow students to enhance their knowledge of a specific country or organisation. This process improves the skill application and reinforces students’ adaptation to new businesses and cultural environments throughout their career.

Ratio of Applicants to Places: 3/1 Male Female Ratio: 30/70% Age Range: 25–40 Average Range: 29 Degree Background: 25% Engineering/IT 25% Business 50% other International Students: 75-100%

Admission Requirements University degree: Bachelor’s GMAT: 550 TOEFL: 90 References: Two Minimum Length of Work Experience: At least two years

Costs Application Fees: 45 EUR Tuition Fees: 26,850 EUR Scholarships: MBS offers a limited number of partial scholarships to outstanding candidates

Contacts Name: Juliane Große Email: [email protected] Telephone: +49 (0) 89 547678-254 Website: mba.munich-business-school.de

Programme Info: Accreditations:

State Accreditation, German Council of Science, FIBAA

Type of Programme:

Full-time MBA

Programme format: Content Strength or Specialisation: Languages Courses:

12-15 months full-time, on-campus instruction

Application Deadlines:

3 July

Starting Dates:

1 September

Exchange Programme:

Option for one international week at Corvinus School of Management (Budapest) or one semester at another university; agreements with over 45 institutions worldwide

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International Management English

MBA SCHOOL PROFILE

The Only Triple-Accredited One-Year MBA in Central Paris FRANCE Student Body

Resulting from the merger of two prestigious “Grandes Ecoles”, Rouen Business School (1871) in Normandy and Reims Management School (1928) in Champagne-Ardenne, NEOMA Business School is ranked among the best Management Schools in Europe and in the Top 10 in France according to the Financial Times. NEOMA BS offers more than 20 programmes in French and in English from MBA, EMBA, and Bachelor’s to PhD, along with highly selective Specialised Master’s and Master’s of Science. There are three campuses located in ROUEN, REIMS and central PARIS. NEOMA BS is one of under 1% of business schools in the world to have achieved accreditation from all three major international accrediting bodies (AACSB, AMBA, and EQUIS). Studying an MBA at our campus in the heart of Paris, you will join one of the largest business school alumni networks in France (55,000+ alumni). Programme Presentation Following its inaugural class in 1972, today

the NEOMA BS One-Year MBA emphasises developing high-level personal skills along with modern business knowledge through hands-on educational experience. • An intensive format in the heart of Paris with strong international exposure; 100% in English, 80% foreign participants; world class international faculty • An MBA with international recognition, ranked one of the five best French MBAs by the Financial Times • An innovative programme structure organised over 5 Key Phases to provide a 360° strategic vision of modern business • Action-based Learning: participants engineer a real company’s globalisation strategy through the International Consulting Project or launch a business through the Entrepreneurial Development Project • Emphasis on career services and personal development, featuring an Integration Seminar in the French Alps, and a Leadership seminar with the French Air Force NEOMA BS also offers the Executive MBA as a part-time course, three days per month for 18 months, to develop the competencies expected from top management.

Programme Info: Accreditations: Rankings: Type of Programme: Programme format: Content Strength or Specialisation:

EQUIS, AMBA, AACSB, RNCP registered “Cadre Dirigeant” #5 Ranked MBA Programme in France by The Financial Times 2015 European Business School Ranking #5 Ranked MBA Programme in France by SMBG/Eduniversal 2016 Ranking MBA with a 360° vision of managerial practices and a totally unique approach to Strategy strongly linked to Business Full-time starting in September and ending in mid-July

Admission Requirements University degree: Bachelor’s or Master’s degree TOEFL: 550 /667 (PBT) 220/330 (CBT) 79/120 (IBT) References: Two Minimum Length of Work Experience: Three years, professional experience

Costs Application Fees: 150 EUR Tuition Fees: 36,000 EUR Scholarships: A wide range of scholarships based on merit, diversity and other criteria

Contacts Name: Will TOUSSAINT Email: [email protected] Telephone: +33 01 73 06 98 06 Website: www.neoma-bs.com

Content specialisation is possible in the fifth and final phase of the MBA

Application Deadlines:

Up to 90 hours of French Language and Cultural Instruction for beginners and intermediate students August

Starting Dates:

Beginning of September

Languages Courses:

Ratio of Applicants to Places: 3/1 Male Female Ratio: 60/40% Age Range: 26-40 Average Range: 33 Degree Background: Business & Economics 29%, Sciences & Engineering 54%, Social Sciences & Law 13%, Others 4% International Students: 80% Europe: 30% North America: 10% Central/South America: 15% Middle East: 10% Oceania and Asia: 15% Africa: 10% Latin America: 10%

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MBA INTERVIEW

Exploring Practice on the Nottingham MBA Jeti-Oluwai Olafimihan, Full-time MBA student in Entrepreneurship shares with us about Business Practice Week Each year Full-time Nottingham MBA students take a one week experiential tour to get a firsthand taste of different types of organisation, examining their business models and approach to problems. This year students were treated to talks by a record breaking polar explorer (and fellow Nottingham MBA alumnus) Adrian Hayes, and renowned business leader and CEO of International Airlines Group, Willie Walsh. They also visited workplaces as diverse as global aerospace company Rolls Royce, a contemporary art gallery, financial services giant Bloomberg, Experian, Boots, and easyJet. Business Practice Week is part of a wider programme of opportunities for Nottingham MBA students to engage directly with a variety of organisations and understand how key business concepts are most effectively applied. Business Practice Week allows students to anchor their learning in contemporary issues. Students on the Nottingham MBA may also choose to undertake an International Study Tour to China, the USA and Malaysia, offering invaluable insight into global business. Business Practice Week, or what is fondly known as “BPW” was an insightful experience for a budding MBA like myself; a week of early mornings, late nights, lots of reflection, listening and writing. Day one focused on Strategy and Leadership. We started off BPW with the most motivating and inspiring speaker, Adrian Hayes, an adventurer, speaker and business coach who really set the tone for our week. He spoke about his inspiring

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journey and how he had managed to find the holy grail of balancing passion and business. We spent the rest of the day visiting businesses that opened our minds to the intricacies, struggles and tricks of growing, building and managing strategy.

Nottingham University Business School

South Building, Jubilee Campus

The Nottingham MBA is an advanced management course for ambitious people who aim to develop informed perspectives on business functions in a rapidly changing global environment. Choose between Full-time or Executive MBA, with the opportunity to study some modules in Singapore, Malaysia, China or the US. With a wide range of pathways to focus your MBA on your career objectives (such as entrepreneurship, CSR, finance, & healthcare) the Nottingham MBA enables you to discover and grow your leadership potential.

Day two focused on Operations Management, Sustainability and Business Economics. We visited operations at Rolls Royce, saw logistics in action at Cooperative Distribution Centre and watched cosmetics production at Boots. Day two’s take-always focused on efficient business models, and key operational issues and their solutions. Next, we were off to Birmingham and Luton. Tarmac was a great example of how a constantly changing company could be managed effectively and easyJet was an excellent example of diversity, company culture and strategy. After a short walk to the hotel, we all ended our day with some dinner and a relaxing drink! Already the last day of our packed week and we were off to London! After a hearty breakfast at around 6am, we loaded up the coach and headed to the tube station to catch our train to London. Our first stop, The Trampery, was an amazing visit for budding entrepreneurs like myself. We were fortunate to listen to three inspiring people speak about their experiences with startups. Shortly after lunch, we made our way to our final visit for the week, Bloomberg. Overall, BPW was inspiring and a great complement to studying and lectures. I think I can speak for most students in our cohort when I say this was a nice break from our linear lifestyles. □

Ten reasons to do a Nottingham MBA 1.

Global Top 100 ranked Business School

2.

Equipping you with the skills and knowledge to succeed in today’s complex business environments 7.

3.

Taught by world leading academics with research expertise in leadership, entrepreneurship, risk management and sustainability

4.

Specialisms in CSR, Entrepreneurship, Finance and Healthcare (Executive MBA only)

5.

Strong links with industry and unrivalled networking opportunities such as Business Practice Week, International Study Tours (e.g. USA and China), Business School events and high profile business speakers

6.

Excellent career opportunities with higher than average salaries Beautiful green award winning sustainable campuses with superb facilities in the UK, China, Malaysia, and Singapore

8.

Flexible study options for the Executive MBA programme e.g. 2-4 years to complete with various start times, modules to suit your needs, and ‘Pay As You Go’ payment

9.

Generous discounts for Nottingham alumni

10. Range of scholarships available

Contact Meet us at one of our MBA ‘Breakfast’ or ‘Taster’ events. For more information on how to apply, details of discounts and scholarships, and general enquiries about our range of MBA programmes, please contact the MBA team at Telephone: +44 (0) 115 951 5501

E-mail: [email protected]

Web: www.nottingham.ac.uk/business/mba

MBA SCHOOL PROFILE

From Insight to Impact S wit z erland Student Body

Founded in 1898, the University of St. Gallen has become a centre of excellence through our practice-oriented approach, international flair and integrative view of studies. Today, we are one of Europe’s leading business schools. The University has a particularly strong reputation in the German-speaking European countries of Germany, Switzerland and Austria. At an institution level, we are #4 in the Financial Times European Business Schools 2015 ranking. Programme Presentation The Full-time MBA programme spans Core Courses, Integration Courses, electives and a 10 to 12-week MBA Project solving a strategic issue at a company. The MBAs may alternatively work on a business plan

or opt to write an academic research paper. Roughly 20% of our MBA curriculum is dedicated to careers and corporates. This includes external experts who train the MBAs in public speaking, external coaches who challenge the MBAs in career development strategies and corporate executives who run the MBAs through a series of Leadership Trainings. Additionally, all MBAs have a comprehensive career services experience. We enable students to have over 100 corporate handshakes throughout their MBA through initiatives such as weekly company presentations on campus, a Munich career trek and our annual recruitment event Take Off Day at which students are interviewed by corporates for post-MBA jobs.

Ratio of Applicants to Places: 5/1 Male Female Ratio: 80/20% Age Range: 26-35 Average Range: 30 Degree Background: Mixed International Students: 85% Europe: 71% North America: 6% Middle East: 2% Oceania and Asia: 12% Africa: 5% Latin America: 4%

Admission Requirements University degree: Bachelor’s GMAT: No minimum TOEFL: No minimum References: Two Minimum Length of Work Experience: Two years (Four recommended)

Costs Application Fees: 100 CHF Tuition Fees FT: 56,500 CHF Scholarships: Please contact Admissions for more information

Contacts Name: Jonas Revensburg Email: [email protected] Telephone: +41 (0)71 224 73 55 Website: mba.unisg.ch

Programme Info: Accreditations:

AACSB, EQUIS

Type of Programme:

MBA

Programme format: Content Strength or Specialisation: Languages Courses:

Full-time

Application Deadlines:

Rolling Admissions

Starting Dates:

September 2016, September 2017

Exchange Programme:

Copenhagen Business School, Imperial College London, Nanyang Technological University (Singapore)

Percentage of salary increase after graduation:

39% (base salary)

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Integrative learning German (for non-German speakers)

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Educating Next-generation Leaders in Montreal & Toronto CANADA Student Body

Programme Presentation

Concordia University’s John Molson School of Business (JMSB) is one of the leading business schools in Canada, offering programmes at the undergraduate, graduate and doctoral levels. JMSB’s internationally renowned faculty members are constantly pushing the boundaries of business research and many of them have been recognised for their exceptional teaching and scholarship. The school’s state-of-the-art Montreal facilities are housed in the LEED silvercertified John Molson School of Business building, the dynamic green centre of Concordia University’s city centre campus. The MBA with Complete CFA® Integration programme’s Toronto facilities are located in the heart of the city on Bay Street – the centre of Canada’s main financial district. JMSB’s mission is to provide an engaging learning and research environment that inspires us to go beyond the commonplace for the development of business and society. Its flagship programme, the John Molson MBA is consistently recognised by some of the top international rankings bodies.

John Molson MBA in Montreal The John Molson MBA addresses the issues of a global economy through an interdisciplinary general management perspective. The programme is diverse, multicultural and aimed at preparing students for managerial success in an increasingly globalised and competitive business environment. One of the programme’s great strengths is its flexibility—we are truly focused on our students’ needs. Our experiential learning model is proven to give students a competitive edge. MBA with Complete CFA® Integration in Montreal & Toronto This is the world’s only MBA programme that fully integrates the Chartered Financial Analyst® (CFA) Body of Knowledge™ into its curriculum, enabling our students to study towards two world-recognised designations simultaneously. Offered in Toronto and Montreal, our programme prepares students to take all three levels of the CFA exams while completing an MBA degree. Since the programme’s establishment in 2001, our students’ CFA Level 1 pass rates have consistently doubled the worldwide rates.

Programme Info: Accreditations: Rankings: Type of Programme: Programme Format: Content Strength or Specialisation: Application Deadlines: Starting Dates: Percentage of graduate students employed 3 months after graduation:

Male Female Ratio: MBA: 69/31 MBA/ CFA: 75/25 Average Age: MBA: 29 MBA/CFA: 26 Degree Background: Varies International Students: MBA: 21% MBA/CFA: 36%

Admission Requirements University Degree: Bachelor’s degree with GPA 3.0 or equivalent GMAT: MBA: 580 MBA/CFA: 550 TOEFL: 90 IELTS 7.0 References: : MBA: three MBA/CFA: two Minimum Length of Work Experience: MBA: two years MBA/CFA: n/a

Costs Application Fees: 100 CAD Tuition Fees: MBA: 42,000 CAD approx. MBA/CFA: 54,000 CAD Scholarships: : Competitive entrance and in-course scholarships available

Contacts Name: Graduate Student Recruitment Advisor Email: [email protected] Telephone: + 1-514-848-2424, ext 2727 Website: www.concordia.ca/mba & concordia.ca/mbacfa

AACSB The Economist: #88 Bloomberg Businessweek: #24 among international programmes Corporate Knights: #12 at integrating sustainability into the MBA experience MBA: 2 years full time, 3.5 years part-time MBA/CFA: 3 years MBA: Flexible schedule MBA/CFA: Classes held on Wednesday evenings and Saturdays to accommodate students’ work schedules MBA: General management, experiential learning, Coop, diverse and flexible specialisations MBA/CFA: Investment Management, Chartered Financial Analyst® (CFA) Body of Knowledge™ MBA: 15 February, 15 June MBA/CFA: Rolling admission MBA: September, January MBA/CFA: September 85%

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The Global Business School united states Student Body

Boston, San Francisco, London, Dubai, Shanghai, New York and Ashridge Estate (UK) Hult is The Global Business School, located in San Francisco, Boston, London, Dubai, Shanghai, New York and Ashridge Estate (UK). Our programmes enable you to study in multiple locations as you learn from internationally renowned faculty alongside students from over 120 countries, and join a network of more than 16,000 alumni working across the globe. Global Hult is not just a business school. It’s a global network that educates, inspires and connects some of the most forward-thinking business talent from around the world. The Hult experience is about becoming part of an international academic and professional community that fosters the boldness, curiosity and resilience needed to become a global business leader. Innovative Our innovative programmes are designed to give students a global perspective on the issues shaping today’s business world, and enable them to move seamlessly between our campus locations to gain first-hand experience in some of the world’s most influential markets. Practical Bringing fundamental global business

concepts to life through real-world practice is the cornerstone of all our programmes. We believe people learn better by doing, so we have developed academic curricula that reflect this. We have won awards for our cutting-edge approach and are ranked in the top 1% of business schools worldwide. Programme Presentation Global One-year MBA – Full-time programme Hult’s Full-time Global One-year MBA is a highly customisable and practical programme designed for experienced professionals who want to build a global career. Study in any three of our seven locations, specialise in your chosen area, and learn to lead in a global environment with this award-winning programme. All MBA students compete in our sevenmonth Business Challenge, solving a real challenge set by a major corporation, or getting a startup ready to bring to market. Global Executive MBA – Part-time programme Our Part-time Global Executive MBA is a highly flexible programme designed for experienced professionals who want to expand their global career without taking time out from work.

Rankings: Type of Programme: Programme Format: Content Strength or Specialisation: Application Deadlines: Starting Dates: Exchange Programme: Percentage of salary increase after graduation:

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Admission Requirements University Degree: Bachelor’s degree or equivalent GMAT (minimum): Contact us to see if you qualify for a GMAT waiver TOEFL: Evidence of English proficiency (GMAT, GRE, TOEFL or Hult Business Assessment Test) References: Two Minimum Length of Work Experience: Three years

Costs Application Fees: 150 USD Tuition Fees: 73,000 USD (Boston Campus) 75,000 USD (San Francisco Campus) 49,900 GBP (London Campus) 265,000 AED (Dubai Campus) Scholarships: Scholarships, financial assistance and educational loans available

Contacts

Programme Info: Accreditations:

Male Female Ratio: 62/38% Average Age: 31 Degree Background: Diverse International Students: Europe: 25% North America: 20% Central/South America: 23% Middle East and Africa: 9% Oceania and Asia: 23%

AMBA, NEASC, BAC We are ranked in the top 1% of business schools worldwide by The Economist and Bloomberg Business Global One-year MBA, Global Executive MBA MBA: 1 year of full-time study EMBA: 2 to 4 years of part-time study General Management, Finance, Marketing, Sustainability, Entrepreneurship, Project Management Rolling September Study at any three of our seven campus locations 130%

Email: Europe: [email protected] North America: [email protected] Latin America: [email protected] Middle East Africa: [email protected] Asia: [email protected] South Asia: [email protected] Website: www.hult.edu

The Global Business School Our global seven-campus network allows you to study in multiple locations in some of the world’s most influential markets. Learn from internationally renowned faculty alongside students from over 120 countries and join an alumni network that spans the globe.

Global campus network: San Francisco | Boston | London | Dubai Shanghai | New York | Ashridge Estate—U.K.

hult.edu

MBA SCHOOL PROFILE

Business with a Purpose in the Heart of New York City united states Student Body Programme Presentation

The Gabelli School of Business at Fordham University educates students who have the knowledge, creativity, and skills to make a defining and lasting impact. Gabelli students share a “business with a purpose” approach that balances the demands of profit with the interests of their communities and the world. They refine their business philosophy, along with industry and function specific knowledge, using a mix of practical and theoretical learning experiences. Top firms seek out Gabelli graduates for their analytical and strategic thinking, strong communication and interpersonal skills, principled leadership, sense of humility, and commitment to collaboration and community. Fordham produces graduates whom people will hear about and admire, not in 15 or 20 years, but in one or two.

The mission of the Gabelli School of Business is to develop business leaders who are equipped for continuous growth in the changing global environment. Located in the commercial capital of the world, the Gabelli School is uniquely positioned to offer students the opportunity to participate in regional and global economies. Its reputation is built upon scholarship and excellence in teaching. The faculty includes distinguished scholars, as well as senior business leaders from Fortune 500 firms. Community is a hallmark of the Gabelli School, where an open, supportive environment proves that it is possible to be both competitive and collaborative. MBA students receive special attention in their internship and job searches from a dedicated team of career services professionals and, at the conclusion of their programme, join a global network of 175,000 Fordham University alumni.

Male Female Ratio: 62/38% Average Age: 28 Degree Background: Various International Students: 59%

Admission Requirements University Degree: Bachelor’s GMAT (minimum): 610 TOEFL: (100)/IELTS: (8) References: Two Minimum Length of Work Experience: Three years

Costs Application Fees: 130 USD (as of 1st May 2016; the application fee for the 2016-2017 academic year has not been set. Please visit: www.fordham.edu/info/21259/tuition_ and_fees for updated information on fees.) Tuition Fees FT: 81,120 USD (as of 1st May 2016; tuition for the 2016-2017 academic year has not been set. Please visit: www.fordham.edu/info/21259/ tuition_and_fees for updated tuition information.)

Programme Info: Accreditations: Rankings: Type of Programme: Programme Format: Content Strength or Specialisation: Application Deadlines: Starting Dates: Exchange Programme:

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AACSB, Middle States Bloomberg Businessweek 2015 (#72) U.S. News and World Report 2017 (#83) Full-time MBA Programme 20 months Accounting, Communications and Media Management, Finance, Information Systems, Management, Marketing, Public Accounting (CPA-Licensure Track) For more information regarding the application deadlines, please visit http://www.fordham.edu/info/20484/graduate_admissions September SDA Bocconi (Italy), ESADE (Spain), Koc University (Turkey), Peking University (China), Skema Business School (France), Xavier Institute of Management (India)

Scholarships: For specific information related to merit-based scholarships and financial awards, please visit www.fordham.edu/info/20491/ financial_assistance

Contacts Name: Gabelli School of Business Graduate Admissions Office Email: [email protected] Telephone: + 1 (212) 636-6200 Website: www.fordham.edu/business

MBA SCHOOL PROFILE

Beyond Business as Usual canada Student Body

Programme Presentation About McGill University’s Desautels Faculty of Management:

Many great business minds choose to pursue their MBA at Desautels.

Since 1821 McGill University in Montreal has been one of Canada’s leading and most international post-secondary institutions. It is consistently ranked among the world’s top 20 research-intensive universities, with two campuses, 11 faculties, 11 professional schools, 300 programmes of study and some 38,000 students from over 150 countries around the world. For over 100 years, the Desautels Faculty of Management at McGill has been recognised as one of the top international business schools in the world.

Want to be a mover, shaker or impact maker? Then join an MBA programme known internationally for developing worldly leaders with a global perspective and a holistic approach to problem-solving. A unique combination of curriculum and practical experience; celebrated professors and leading industry experts; a diverse student body; first-hand global experience through our international study trip – this is the winning formula for producing graduates who display strong analytical ability, creativity, teamwork and responsible leadership.

The Desautels Faculty of Management emphasises an integrated and holistic approach to the teaching, research and practice of management. Desautels’ exacting standards, innovative approach and historic reputation for excellence continue to attract the finest students, the most prominent professors and the most demanding recruiters from around the globe. Education choices at Desautels include all management disciplines, with programmes at the undergraduate, Master’s, Doctorate, and Executive levels.

With 39,500 students, 250,000 alumni and a reputation for excellence, McGill has carved out a spot among the world’s greatest universities. Our diverse group of accomplished students have journeyed from all over the world to study here in Montreal, a city where Europe meets North America. McGill’s Desautels Faculty of Management is located right in the heart of the city, with Montreal ranked number 1 in Canada and Top 10 in the world as a student-friendly city. Join us. Become a leader.

Male Female Ratio: 30/70% Age Range: 28 Degree Background: Business / Commerce: 29%, Engineering: 38%, Law: 4% Science: 13%, Social Science: 16% International Students: 30 Countries represented

Admission Requirements University Degree: Undergraduate degree TOEFL IBT: Yes (minimum 100, with 20 in each category) References: Two Minimum Length of Work Experience: Two years

Costs Application Fees: 105.80 CAD (2016 Entering Class) Tuition Fees: 79,500 CAD (2016 Entering Class) Scholarships: Variable

Contacts Name: Marie-Eve Roy Email: [email protected] Telephone: + 1 (514) 398-4066 Website: www.mcgill.ca/mba

Programme Info: Accreditations:

EQUIS

Type of Programme:

Financial Times Global MBA Ranking 2016: 85th / BusinessWeek MBA Ranking 2015: 16th Full-time, Part-time, MBA/Law, MBA/MD

Programme Format:

2-year programme – Part-time 3-year programme

Content Strength or Specialisation:

Global Strategy & Leadership / Finance / Marketing / Business Analytics (scheduled for autumn 2016) English

Rankings:

Languages Courses:

Starting Dates:

1st November, 15th January, 15th March (Final deadline for International Students), 1st May (Final deadline for Canadian Citizens and Permanent Residents) Beginning of August

Exchange Programme:

Available

Application Deadlines:

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A Flexible and Highly Personalised Approach to Management Education CANADA Student Body

A 12-month programme starting in January which offers a flexible and highly personalised approach to management education, built around your career goals. We believe strongly in our team-based approach because it mirrors today’s progressive workplace. You will leave the programme with a thorough understanding of the best practices for successful teambuilding and teamwork, well-prepared to be a valuable member of a high-performance team. We are seeking exceptionally motivated candidates who have demonstrated:

academic excellence, career progression (i.e. increased responsibility with each successive position), leadership or leadership potential, integrity and a strong sense of ethics, superior communication and interpersonal skills, ability to work well in a team environment. Programme Presentation The curriculum for Queen’s MBA is very flexible and can be built to meet your career goals. There are two modules – the Foundations Level, which provides an overview of business fundamentals, and Mastery, which enables you to choose an area of specialisation. Upon completion of the MBA, you may then choose to advance to the Expert level by pursuing a second Master’s degree in this area of specialisation.

Ratio of Applicants to Places: 350/75 Male Female Ratio: 45/36% Age Range: 22-38 Average Age: 28 Degree Background: : Business 23%, Arts 21%, Science 19%, Engineering 16%, Technology 11%, Economics 5%, Healthcare 5% International Students: 35 (43%) Europe: 2% North America: 55% Central/South America: 10% Middle East: 3% Oceania and Asia: 15% Africa: 3% Latin America: 10%

Admission Requirements University Degree: 4 Year U/G degree GMAT (minimum): 600 TOEFL: 100 min. References: Three professional Minimum Length of Work Experience: Two years

Costs Application Fees: No fee Tuition Fees: 89,000 CAD International, 79,000 CAD Domestic Scholarships: Merit Based (range 15,000 - 60,000 CAD)

Programme Info: Accreditations: Rankings: Type of Programme: Programme Format: Content Strength or Specialisation: Language Courses: Application Deadlines: Starting Dates: Exchange Programme: Percentage of salary increase after graduation:

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AACSB, EQUIS #1 Value for Money - Financial Times, #1 Highest Salary Increase – Financial Times, #4 Overall –Financial Times. #2 BusinessWeek, #2 Canadian Business Full-time MBA programme (residential) 12 months 12 month, modules Finance, Consulting, Marketing & Sales, Entrepreneurship & Innovation, Healthcare Management, General Management English 14 March, 2016, 13 June, 2016, 12 September, 2016, 14 November, 2016 – Rolling Admissions 16th January, 2017 Yes, 30 partnering schools in 19 countries 25-35%

Contacts Name: Teresa Pires Email: [email protected] Telephone: + 1 (844) 533-1651 Website: www.queensmba.ca

your career starts in luxembourg!

WELCH MBA WITH INTERNSHIP • 16 month program • Paid internship of 6-9 months at a top international company such as PwC, ArcelorMittal, BBH, DuPont, Lombard, SES, UBS, Vodafone... • Individual coaching • International faculty & student body • American MBA, all courses taught in English • Optional: complete final courses in the US on main SHU campus • 2 year work permit for non-EU students after graduation

DEVELOPING LEADERSHIP IN THE HEART OF EUROPE +352 22 76 13 1 | [email protected] | shu.lu

MBA SCHOOL PROFILE

Personalised Experience in the Heart of Vancouver CANADA Student Body

Since the creation of Canada’s first Executive MBA in 1968, the Beedie School of Business has championed lifelong learning, productive change and the need to be innovative as we deliver research and teaching that makes an impact. That we have achieved some measure of success is confirmed by our accreditation by the AACSB (Association to Advance Collegiate Schools of Business), and by receiving the EQUIS Quality award from the EFMD (European Federation for Management Development), globally recognised accrediting agencies for business schools. Less than 1% of business schools worldwide have earned both of these international accreditations. Undergraduate, graduate and PhD. programmes demonstrate a spirit of innovation, flexibility and relevance. Supported by extensive partnerships with public, private and not-for-profit organisations, our goal is to produce broadly educated, enterprising and socially responsible managers capable of making lasting contributions to their communities.

Programme Presentation Based in central Vancouver, the SFU MBA is a collaborative and connected MBA. Our maximum class size of 55 students isn’t a random figure. We’ve tested it and know that a more personal, collegial approach lets you build stronger connections and get more from your MBA. You’ll learn with and from a diverse group of classmates from different countries and educational backgrounds. And smaller classes let your professors get to know you better and provide more personalised guidance. Our comprehensive and challenging curriculum incorporates real-world business challenges and explores relevant topics such as sustainability, new ventures and international business. You’ll graduate with a business management toolkit that applies across industries, providing you with more career options and mobility. The programme consists of a 12-month academic component followed by a 4-month paid internship.

Ratio of Applicants to Places: 300/55 Male Female Ratio: 55/45% Age Range: 23-45 Average Age: 29 Degree Background: Arts, Kinesiology, Economics, Biology, Physics, Psychology, Engineering, Education, Mathematics, Communication, Political Science, Music, Biochemistry, Geography, Medicine, Business, Philosophy International Students: 45%

Admission Requirements University Degree: Bachelor’s Degree GMAT (minimum): 550, average 612 TOEFL: 93+/IELTS 7+ if student studied outside of Canada/US References: Required to submit three reference letters Minimum Length of Work Experience: Two years

Costs Application Fees: 90 CAD (students with Canadian transcripts) or 125 CAD (students with international transcripts) Tuition Fees: 37,000 CAD Domestic; 46,500 CAD International Scholarships: Available from 3,000 CAD to full

Contacts Programme Info: Accreditations: Type of Programme: Programme Format: Content Strength or Specialisation: Language Courses: Application Deadlines: Starting Dates: Exchange Programme:

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EQUIS, AACSB, PRME 12-month Full-time MBA programme followed by a 4-month internship 18-20 hours each week, at least four days out of five; additional 30 hours Our comprehensive and challenging curriculum incorporates real-world business challenges and explores relevant topics such as sustainability, new ventures and international business n/a 4 deadlines (Nov 2016, Jan 2017, March 2017 and May 2017) 5 September 2017 International cross-cultural trip (China, Japan, Argentina, Chile – includes site visits, cultural events, meetings with business leaders in different industries) OR local (first nations – Barkley and Clayoquoit Sound – site visits, meetings etc.)

Name: Shane Moore Email: [email protected] Telephone: + 1 778-782-5259 Website: www.beedie.sfu.ca/mba

MBA SCHOOL PROFILE

Make an Impact C anada Student Body

The Sauder School of Business is one of the world’s leading academic business schools, recognised globally for its contributions to the transformation of business practices through innovative research and teaching. Sauder offers a wide range of Graduate Programmes, including full-time MBA, parttime MBA, International MBA and Master of Management. The school has more than 37,000 alumni in 77 countries around the world. Programme Presentation The UBC MBA programme ranks among the top 100 programmes in the world by the Financial Times Global MBA Rankings and places among the top five Canadian schools to make the top 100. The Financial Times

also ranked the UBC MBA #1 in Canada for International Faculty, #1 in Canada for Female Students, and #1 in Canada for Placement Success, recognising the UBC MBA for its strength as a preferred source of top talent for employers around the world. The 16-month, full-time UBC MBA at Sauder’s Robert H. Lee Graduate School offers a uniquely integrated vision. With three career tracks or the choice to develop a custom career track tailored to your interests, and a focus on experiential learning, global immersion and personalised leadership development, you’ll gain confidence to innovate on the world stage. Learn more: www.sauder.ubc.ca/FTMBA

Male Female Ratio: 65/35% Age Range: 23-45 Degree Background: Business 35%, Engineering 29%, Social Sciences 9%, Humanities 8%, Science 7%, Economics 6%, Computer Science 5%, Law 2% International Students: 59%

Admission Requirements University Degree: A Bachelor’s degree with a B average, or recognised equivalent from an accredited institution GMAT or GRE: min 550 GMAT or 300 GRE score TOEFL, IELTS, MELAB or PTE: when applicable (for all candidates whose degrees are from a university outside Canada or the U.S.A. in which English was not the official language of instruction) References: Resume and professional letters of reference Minimum Length of Work Experience: Two years of full-time work experience

Costs Application Fees: 125 CAD Tuition Fees: Canadian Citizens and Permanent Residents: 46,569 CAD* International Students: 71,278 CAD*

Programme Info: Accreditations:

Rankings:

Type of Programme: Content Strength or Specialisation: Application Deadlines: Starting Dates: Percentage of salary increase after graduation:

EQUIS, AACSB Financial Times 2016 Global MBA Ranking #96 in the world and Top 5 in Canada #1 in Canada for female students #1 in North America for international faculty #3 in North America for international students #4 in North America for international mobility 16-Month Full-time MBA Finance, Product and Service Management, Innovation and Entrepreneurship, Custom 2 November, 2016 11 January, 2017 1 March, 2017 3 May, 2017 August/September 72% salary increase by Financial Times 2016 MBA Ranking

*Subject to UBC Board of Governor’s approval. The university may adjust fees at any time with limited notice

Scholarships: For more information, please visit:

http://www.sauder.ubc.ca/FTMBA-Admissions

Contacts Robert H. Lee Graduate School, Sauder School of Business, UBC Email: [email protected] Telephone: + 1 604-822-8422 Website: www.sauder.ubc.ca/FTMBA

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Leading Discovery and Innovation since 1785 CANADA Student Body

Programme Presentation

Established in 1785, the University of New Brunswick is the oldest English speaking university in Canada. We are #1 at fostering innovation and entrepreneurial thinking, which is why Startup Canada named us Canada’s most entrepreneurial university in 2014. Do you have an innovative mind? Then we are the right fit for you!

The University of New Brunswick Saint John’s Master of Business Administration (MBA) programme provides world-class education. Among the top ten in Canada, we were also ranked the top MBA school in Atlantic Canada by the Business Canada Review. Our MBA is an investment in your future. We have one of the shortest payback periods in North America for a one-year full-time programme.

UNB has among the lowest student-tofaculty ratios of Canada’s comprehensive universities. We offer world-class programmes with a small-university experience. Accomplished academics and industry professionals provide an engaging learning experience and personal mentorship support.

An intensive programme blending classroom and experiential learning with internships in business and community organisations, the programme is designed to develop innovative entrepreneurial leaders. Our students enjoy small class sizes, a diverse international student body, accessible faculty and a dedicated staff.

UNB - 230 years of history, 16 Students for every faculty member, 75+ Programmes to choose from. The choice is clear!

Join us! We will work together to develop the skills you need to compete and succeed in the global marketplace.

Ratio of Applicants to Places: 3/1 Male Female Ratio: 1.5/1 Age Range: 27-53 Average Age: 30 Degree Background: Various areas International Students: 79% Europe: 4% North America: 21% Central/South America: 2% Middle East: 7% Oceania and Asia: 52% Africa: 14%

Admission Requirements University Degree: Bachelor’s degree with CGPA 3.0/4.3 or higher GMAT (minimum): 550 TOEFL: 580, IBT 93, IELTS 7 References: Three from both academic and professional sources Minimum Length of Work Experience: Two years

Costs Application Fees: 100 CAD Tuition Fees: International Students: 24,500 CAD, Domestic Students: 18,000 CAD Scholarships: Merit Awards up to 10,000 CAD

Contacts Programme Info: Accreditations: Rankings: Type of Programme: Programme Format: Content Strength or Specialisation: Language Courses: Application Deadlines: Starting Dates: Exchange Programme: Percentage of salary increase after graduation:

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AACSB member Top 10 Canada, 2014 1-year Full-time MBA In class Project management, entrepreneurship and technology management, international business and general management English International Applications: 15 June, Domestic Applications: 15 July Late September Yes, France and China 25-50%

Name: MBA recruitment team Email: [email protected] Telephone: + 1 506-648-5973 Website: www.unb.ca/saintjohn/ business/mba/

MBA SCHOOL PROFILE

#1 MBA Programme in Canada

ROTMAN

CANADA Student Body

The Rotman School of Management at the University of Toronto has been ranked the number 1 business school in Canada for the past 10 years by the Financial Times. Students also leverage the global reputation of the University of Toronto itself, consistently ranked in the global Top 20 and currently number 4 in the world outside of the United States. Over the past 15 years, Rotman has quadrupled its endowment, expanded its faculty to include some of the world’s most cited academics and top business thinkers, and opened a new stateof-the-art $93-million building that more than doubles the school’s research, teaching and study space. This year, Rotman has received a generous $45 million donation from the estate of Joseph L. Rotman to establish the Rotman Catalyst Fund, ensuring the School’s continuing commitment to innovation, entrepreneurship and global impact.

Programme Presentation The Rotman Full-Time MBA programme is the largest and most internationally diverse class in Canada with 350 students from 47 birth countries. Our large class size and two-year format mean students can triple their personal network to over 1,000+ Rotman MBAs upon graduation (350 + 350 + 350). Rotman is located in the heart of Toronto, a distinct advantage in meeting with corporate recruiters, alumni and executives headquartered minutes away from campus for coffee chats and interviews. Our Flexible Internship Programme helps students access organisations year-round to convert to full-time roles - the preferred method of recruiting for many Canadian employers. All international graduates are eligible for a 3-year post grad work permit in Canada (versus only 1 year for one-year programmes in Canada, and no work permit for US-based schools).

Male Female Ratio: 68/32% Age Range: 21-37 Average Age: 27 Degree Background: : Business/ Commerce, economics, life sciences, humanities, physical science, law, engineering, social sciences, maths and computer science, other International Students: 53%

Admission Requirements University Degree: 4 year Bachelor’s GMAT (minimum): There is no minimum GMAT requirement. The range for the class of 2017 is 500-780. Average GMAT is 663 TOEFL: TOEFL iBT (internet based test) score of 100 overall, with a minimum of 22 on speaking and writing References: Two reference forms, preferably from workplace supervisors, must be completed online by your referees Minimum Length of Work Experience: We recommend candidates have at least two years of work experience but there is no minimum requirement.

Costs Application Fees: 175 CAD Tuition Fees*: 98,424 CAD Canadian, 107,800 CAD international

*Please note that Tuition Fees, University incidental fees and the Rotman ancillary fees are set annually and are subject to change

Programme Info: Accreditations: Rankings: Type of Programme: Programme Format: Content Strength or Specialisation: Starting Dates: Exchange Programme: Percentage of salary increase after graduation:

AACSB # 1 in Canada, 60 in the world (2016 Financial Times Ranking) Full-time MBA 16 months of study, four-month flexible internship Finance and consulting September of each year Yes NA

Scholarships: 4,000,000 CAD in scholarships and financial aid awarded each year. Scholarships range from 5,000 CAD to 50% of tuition

Contacts Email: [email protected] Telephone: + 1 416-946-8463 Website: www.rotman.utoronto.ca/mba

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Canada’s Preeminent Business School CANADA Student Body

Ranked number 1 in Canada, Schulich is Canada’s pre-eminent MBA Programme according to The Economist, Forbes and CNN Expansion. At Schulich it’s not just about the answers – it’s about learning how to ask the right question and then framing the answer in the right context. The Schulich MBA combines classroom learning of fundamental and advanced management concepts with real world experience, including a six-month strategic consulting project where students will work with real clients on real business problems and solutions. Throughout the programme, students will have the opportunity to build expertise in up to 2 of the 20 areas of specialisation. The programme offers flexible study options including full-time, part-time and weekend or evening courses. For individuals who are interested in international immersion, there is also an option to complete a 4-month exchange with a partner school. The Schulich MBA will equip you with the specialised knowledge and leadership skills you will need to gain a competitive advantage. You will learn to manage complexity, ambiguity and change as you examine business issues in a global environment. If you seek a highly rewarding and stimulating programme in a learning environment that is truly diverse then you will want to consider Canada’s Global Business School - the Schulich School of Business.

Programme Presentation Rankings:

• The Economist - #1 in Canada and top 50

in the world in the 2015 global MBA ranking and #1 in Canada and 5th in the world in the 2015 global Executive MBA ranking • Forbes- #1 in Canada and 9th in the world among two-year MBA programmes outside the US in the 2015–2016 Best Business Schools ranking • CNN Expansion - #1 in Canada and 24th in the world in 2016 global MBA ranking • Corporate Knights- #1 in Canada and in the 2015 ranking of the top MBA programmes integrating social, ethical and environmental impact management issues into the curriculum • eFinancial Careers- #1 in Canada and 23rd in the world in the 2015 Top MBAs to Get a Job in Investment Banking survey Content Strength or Specialisation: 20 areas of specialisation Accounting, Arts and Media*, Business and Sustainability*, Business Consulting, Economics, Entrepreneurial Studies, Finance, Financial Engineering*, Financial Services, Global Mining Management, Health Industry Management*, International Business, Marketing, Operations Management and Information Systems, Organisation Studies, Public Management*, Real Estate and Infrastructure*, Social Sector Management*, Strategic Management, Global Retail Management. *graduate diploma available

Programme Info: Accreditations: Type of Programme: Programme Format:

Starting Dates: Exchange Programme:

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AMBA, EQUIS, AICTE MBA, International MBA, MBA in India MBA: Full-time or Part-time 16 months (FT) or ~40 months (PT) IMBA: Full-time only 20 months (including 4-month work term) MBA Full-time: January or September Part-time: January, May or September IMBA Full-time, September start only 54 schools (in 31 countries)

Ratio of Applicants to Places: 4/1 Male Female Ratio: 65/35% Age Range: 25-38 (MBA and IMBA programme) Average Age: 28 Degree Background: Business 28%, Arts 40%, Engineering 32% International Students: 55% Europe: 3% North America: 59% Central/South America: 1% Middle East: 3% Oceania and Asia: 33% Africa: 1% Latin America: 1%

Admission Requirements University Degree: 4-year Bachelor’s degree (honours) GMAT (minimum): 550 TOEFL: 100 (iBT) References: Two professional Minimum Length of Work Experience: Two full years

Costs Application Fees: 150 USD Tuition Fees: Domestic students – 74,000 CAD (FT) 79,000 CAD (PT) International students – 94,000 CAD Scholarships: Various (ranging from 2,000 CAD to 76,000 CAD)

Contacts Name: Imran Kanga Email: [email protected] Telephone: +1 416-736-2100 x22062 Website: www.schulich.yorku.ca

MBA SCHOOL PROFILE

Graduate School of Management, GLOBIS University JA PA N Student Body

Located in the heart of Tokyo, GLOBIS University’s fresh look at business education has driven it to become Japan’s largest MBA in a short space of time. Combining a highly practical and interactive methodology with the uniqueness of time-tested Japanese management concepts, GLOBIS equips students to take on tomorrow’s challenges in a global context, and become visionary leaders who create and innovate societies. As Japan’s largest business school, GLOBIS offers a door to an expansive network of business professionals and executives throughout Japan and around the world. Our graduates apply their skills in all arenas, from start-up ventures to the largest bluechip global companies. Programme Presentation Beyond developing practical business skills, GLOBIS MBA students are pushed to find their place in society and think practically about the enduring and unique value that they can add.

Entrepreneurship is more than a buzzword at GLOBIS. As a former start-up that grew into one of Japan’s top-ranked business schools, GLOBIS aims to develop the next generation of entrepreneurs by offering a space for students to share innovative ideas and experiences, and learn essential start-up skills through courses taught by successful entrepreneurs. All courses at GLOBIS are taught by top business professionals, allowing students to tap into real-world insights in small, discussion-based classes. Beyond this, GLOBIS MBA students must think deeply about their ultimate goal in life, and how they can leverage their new-found skills and network to achieve this mission. This kokorozashi, or sense of mission, is a unique cornerstone of the GLOBIS MBA that sets it apart from other business schools. Interested students can take real MBA classes online before applying, through the Pre-MBA Programme, with new courses offered every three months.

Programme Info: Accreditations:

Accredited by the Japan University Accreditation Association

Rankings:

Ranked second by Nikkei and Nikkei HR in 2014

Type of Programme:

Full-time, Part-time

Languages Courses:

Full-time: 12-month programme, classes held during day time, on-campus Part-time: 24-month programme, classes on weekday nights & weekends, on-campus and online Entrepreneurship, General Management, Japanese Management, Cross Cultural Management English

Application Deadlines:

Full-time: November 2016, January 2017 and March 2017 Part-time: September 2016, February 2017 and June 2017

Programme Format: Content Strength or Specialisation:

Starting Dates: Exchange Programme (not necessary for EMBA):

134

Full-time: September 2017 Part-time: October 2017 Exchange Programme (not necessary for EMBA): Overseas Module with China Europe International Business School (CEIBS) Overseas Module with China Europe International Business School (CEIBS)

Male/Female Ratio: 46/54% Age Range: 25-40 Average Age: 30 Professional Experience: 8 years International Students: 92% Europe: 23% North America: 8% Oceania and Asia: 65% Africa: 4%

Admission Requirements University Degree: Bachelor’s Degree GMAT: Optional References: One (work related) Minimum Length of Work Experience: Two years

Costs Full Time Application Fees:11,000 JPY (outside Japan) Tuition Fees: 3,771,000 JPY + Enrolment fees: 210,000 JPY = Total fees: 3,981,000 JPY Scholarships: Up to 50% of the total tuition Part Time Application Fees: 11,000 JPY (outside Japan) Tuition Fees: 2,961,000 JPY + Enrolment fees: 23,000 JPY = Total fees: 2,984,000 JPY Scholarships: Up to 50% of the total tuition (for non-Japanese students)

Contacts Name: Mr Jake Pratley Email: [email protected] Telephone: +81 3 5275 3850 Website: www.globis.ac.jp

MBA SCHOOL PROFILE

Leading From Asia SINGAPORE Student Body

National University of Singapore (NUS) Business School is known for providing management thought leadership from an Asian perspective, enabling its students and corporate partners to leverage global knowledge and Asian insights. The school has consistently received top rankings in the Asia-Pacific region and is accredited by organisations of high repute in the education circle, endorsements that the school has met the highest standards for business education. The NUS MBA is 32nd in the Financial Times Global Rankings 2016. In 2015, Forbes also ranked the NUS MBA as the #3 MBA programme in Asia in the two-year International MBA programmes category.

Programme Presentation The NUS MBA programme aims to ensure that our graduates acquire the knowledge and skills to bridge theories with handson practical experience. Insightful Asian content and experiential learning offerings, such as the Management Practicum and Management Communication modules are imperative to offering an immersive and authentic experience in the world of business. The programme also offers internship opportunities and student exchange options, as well as specialisations in Strategy & Organisation, Finance, Marketing, Healthcare Management and Real Estate Management.

Male Female Ratio: 57/43% Age Range: 24-42 Average Age: 30 Degree Background: From any undergraduate faculty International Students: 90% Europe: 4% North America: 2% Oceania and Asia: 90% Latin America: 4%

Admission Requirements University Degree: A recognised Bachelor’s Degree GMAT: Good GMAT score English Proficiency: TOEFL/IELTS/ PTE (if undergraduate degree was not conducted in English) ** minimum TOEFL score is 100, minimum IELTS score is 6.5 and minimum PTE score is 68 References: Two professional references Minimum Length of Work Experience: Two years of post-university full-time work experience

Costs

Programme Info: Accreditations: Rankings: Type of Programme: Programme Format: Content Strength or Specialisation: Application Deadlines: Starting Dates: Exchange Programme:

AACSB and EQUIS accredited Ranked 32nd MBA Globally – Financial Times Global Rankings 2016. Ranked #3 in Asia for two-year International MBA Programmes – Forbes 2015 MBA Programme 17 Months Full Time Experiential Learning Modules (Management Practicum and Management Communication) and Specialisations in Strategy & Organisation, Marketing, Finance, Healthcare Management and Real Estate Management 1st Oct 2016 - 31st January 2017 (Round 1/Scholarship Qualifying Round) and 1st February 2017 - 31st March 2017 (Round 2) July/Aug 2017 (one intake per year) Yes

Application Fees: 100 SGD Tuition Fees: 62,000 SGD Scholarships: The NUS MBA Study Awards The NUS MBA ASEAN Scholarship The NUS MBA Women-in-Business Scholarship The NUS MBA Diversity Scholarship Asian Development Bank – Japan Scholarship Lam See Chiew Memorial Scholarship in Entrepreneurship & Philanthropy NUS-APEC Scholarship

Contacts Name: Teo Su Ann Email: [email protected] Telephone: +65-65167363 Website: www.mba.nus.edu ACCESS MBA GUIDE 2016-2017

135

MBA SCHOOL PROFILE

Empowering the Next Generation of Leaders AUSTRALIA Student Body

Monash Business School is a progressive academy delivering the highest quality teaching, learning and research. As one of the world’s leaders in business education, our ambition is to transform business by advancing knowledge and addressing global challenges. We do this by educating the world’s future business and societal leaders and by contributing to the development, growth and transformation of local, national and international economies. In our increasingly complex world, the ability to make sense of what is happening around us and to prioritise strategically will be the hallmarks of executive capability. We are continually developing programmes, courses and materials that empower the next generation of leaders. Programme Presentation The Monash MBA is a two-year programme designed for professionals with 3-7 years’ experience. The programme combines cutting-edge business skills development with extensive practical project experience,

opportunities for the completion of an international business project and an advanced and integrated leadership and professional development programme. We constantly strive for the right balance between intellectual rigour and experiential learning. This is a powerful way to add immediate impact to the learning, skills and experiences of our students. The Leadership and Personal Development Programme is an integral part of the MBA, and includes critical and reflective work on personal style, networking and career management. This focal aspect of the Monash MBA supports the development of transformational leaders with a global perspective, agility and integrity. Monash MBA candidates can demonstrate authority and responsibility in their current roles, career progression, project, staff and budget management capabilities and desire to share their unique experiences with likeminded individuals. The Monash Executive MBA Programme is also available for experienced professionals with at least 10 years’ work experience.

Ratio of Applicants to Places: 5/1 Male Female Ratio: 60/40% Average Age: 33 Degree Background: Science Business/Commerce, Engineering, Arts, Applied Science, IT, Law International Students: 30% Europe: 3% North America: 3% Central/South America: 2% Middle East: 4% Oceania: 69% Asia: 15% Latin America: 4%

Admission Requirements University Degree: An Australian Bachelor’s degree or equivalent GMAT: not required TOEFL: minimum test score of 550 with a Test of Written English score of at least 4.5. Internet based TOEFL overall 79, Writing 21, Listening 12, Reading 13 and Speaking 18 References: Two Minimum Length of Work Experience: Three years, including 1 year of professional/managerial experience

Costs Application Fees: 100 AUD Tuition Fees: 65,400 AUD (2016 indicative fees for two-year programme) Scholarships: Scholarships and study support grants up to 50%

Contacts

Programme Info: Accreditations: Type of Programme: Programme Format: Content Strength or Specialisation: Application Deadlines: Starting Dates:

136

AMBA, AACSB, EQUIS MBA Combination of block, evening and intensive modes Leadership and Personal Development Programme, experiential learning, international module, global, addressing next generation challenges and cohort approach Application rounds – 31 May, 31 July, 30 September March

Name: Monash MBA Office Email: [email protected] Telephone: + 61 3 9903 4355 Website: mba.monash.edu

MBA INTERVIEW

The Monash MBA Develops Entrepreneurial Insights and Skills for the 21st Century Monash Business School is based in Melbourne, Australia. Monash University also has campuses in Malaysia, South Africa, China, India and Italy. It is ranked in the world’s
top one per cent of universities by
 the Times Higher Education World University Rankings, and the Business School has achieved ‘triple crown’ accreditation from the AACSB, EQUIS and AMBA. Featuring a commitment to leadership development and true global orientation, the Monash MBA and Executive MBA suite prepare next-generation leaders for the 21st century.

Could you give us a brief overview of your MBA programme?

The Monash MBA is a two-year programme that incorporates class-based learning, experiential modules, supervised consulting projects and an overseas international business module. Designed for ambitious young professionals with a minimum of three years, work experience, it combines academic, practical and reflective dimensions. The Monash Leadership and Professional Development modules develop critical executive capabilities and personal leadership style. The programme brings together international and local students with a wide range of professional and cultural backgrounds, and is committed to a global orientation in all of its activities.

What is the profile of your students?

The profile of students on the Monash MBA programme is truly diverse. For example, in the 2016 class of 70 students, the international cohort represents one third of the student body, from 22 different countries. Women make up 40% of the

Could you describe the structure of your programme?

The two-year model commences with MBA Orientation and then moves through a series of broad-based strategic issues and functional and operational disciplines. At all stages of the programme students engage directly with businesses and organisations on consulting project work. Projects on strategy, technology and entrepreneurship are designed into the programme, and an international business project and strategy capstone complete the journey. Study is undertaken in a combination of daytime, evening, occasional weekend and intensive study modes.

Prof Patrick Butler Director MBA Programmes Monash Business School

What business areas do your students generally enter after graduation?

class. All of the major business sectors are represented, and the professional backgrounds include engineering, science, the arts, medicine, healthcare and commerce. Such diversity in the classroom engenders a respect for different social and cultural backgrounds and helps participants to embrace new and enlightening perspectives.

What makes your MBA special?

In the Monash MBA programmes we constantly strive for the right balance of the intellectual rigour of a graduate university programme and the application capabilities necessary for management practice. This requires us to combine the leading insights of our researchoriented academic staff with the hardwon experience of reflective executives and leaders. So, for example, in our MBA consulting projects we work directly with firms in cutting-edge technologies and develop the entrepreneurial insights and skills that are increasingly sought by progressive organisations and employers.

Monash MBA graduates take up positions in a wide range of sectors and roles. In many cases, students return to their original employers to move into more senior managerial positions. Students who are seeking a change of career deliberately seek opportunities in new sectors and often in new countries. Undertaking MBA projects in different and challenging areas provides a terrific opportunity to experience new contexts and sectors.

What advice would you give to potential candidates?

Applicants for the MBA programme should be able to communicate clearly their expectations of the programme. Demonstrating a sound knowledge of the purpose and role of an MBA is important at a general level; being informed about the particular details and content of a specific programme is critical for a formal application. Connecting their personal career plans with the programme they are applying for is the key. And applicants should always remember to outline what they can contribute to their classmates’ learning, and show how they can add real value to the experience. □

ACCESS MBA GUIDE 2016-2017

137

MBA

2016-2017 LISTING

Table of Some of the Top Full-time MBA Programmes in the World

77,459 USD

59,500 USD

France

Switzerland

IESEG School of Management

IMD

82,253 USD

Spain

Spain

70,295 USD 69,800 USD

China

US / UK / UAE / China

Hong Kong UST Business School

Hult International Business School

IE Business School

58,500 USD 29,000 EUR

France

Germany

HEC Paris

HHL - Leipzig Graduate School of Management

Iese Business School

28,062 USD

Canada

HEC Montréal

41,592 USD

ACCESS MBA GUIDE 2016-2017 93,366 USD

20,000 EUR

100,192 USD

61,225 USD

France

US

Grenoble Graduate School of Business

Harvard Business School

3,981,000 JPY

59,756 USD

US

Japan

46,890 USD

Globis University

31,900 EUR 33,000 USD 53,850 USD

George Washington University Georgetown University: Robert Emmett McDonough School of Business Georgia Institute of Technology: Scheller

Frankfurt School of Finance and Management

US

China

Fudan University School of Management

15,900 EUR

50,495 USD

79,330 USD

59,132 USD

49,600 USD

50,495 USD

17,085 GBP

41,618 USD

US

Germany Spain/ Germany/ Switzerland Germany

ESMT - European School of Management and Technology

EU Business School

Netherlands

Spain

Erasmus University: Rotterdam School of Management

US

Emory University: Goizueta

Esade Business School

France

EMLyon Business School

54,481 USD

France

Scotland/ UAE

EDHEC Business School

Edinburgh Business School - Heriot-Watt

35,800 EUR

UK

Spain

Durham University Business School

EADA Business School

64,200 USD 66,056 USD

US

US

Dartmouth College: Tuck School of Business

59,930 USD

64,427 USD

Duke University: Fuqua School of Business

US

UK

Cornell University: Johnson

63,148 USD 37,622 USD

US

Canada

Columbia Business School

Concordia University – John Molson School of Business

Cranfield School of Management

65,757 USD

China

UK

CUHK Business School

City University: Cass

15,500 EUR 63,994 USD

Hungary

China

China Europe International Business School (CEIBS)

60,000 USD 75,000 USD

US

US

23,240 USD

47,578 USD

92,844 USD

90,540 USD

70,000 USD

Carnegie Mellon University Tepper School of Business Case Western Reserve University – Weatherhead School of Management CEU Business School

US

US

Brandeis International Business School

Brigham Young University: Marriott

US

US

Boston College: Carroll School of Management

Boston University School of Management

US

US

Babson College: Olin Graduate School of Business

Bentley University

72,960 AUD

12,000 EUR

Greece

Australia

Athens University of Economics and Business

UK

Australian Graduate School of Management (AGSM)

69,800 USD 25,250 GBP

Ashridge Business School (see Hult Internatrional Business School) UK

Aston Business School

43,886 USD

US

Arizona State University: W. P. Carey School of Business

19,750 EUR

Costs

Greece

Country

ALBA Graduate Business School

School name

13

16

12

14

15

2

94

71

44

78

47

64

23

42

55

84

66

21

22

57

31

6

37

26

17

33

80

78

69

90

66

32

14

17

65

78

5

94

4

84

40

81

49

21

76

25

75

34

68

20

3

52

23

88

12

54

100

86

30

73

47

5

7

4

10

29

1

23

26

61

15

11

26

15

8

14

13

16

6

84

18

27

57

56

49

Financial The Business Times Economist Week

Rankings

USD

139

21

11

12

19

13

12

16

15/21

12

12

24

12

12

21

21

21

24

15

12

12

12

12

12

12

12

10

11

12

22

21

13

21

16

20

12

16

18

12

21

21

24

24

22

22

11 / 21

157,439

140,185

159,266

144,303

134,299

172,501

93,680

118,900

130,950

112,291

96,884

107,234

132,119

107,998

127,938

106,761

98,029

144,455

156,652

116,604

142,764

169,866

121,402

124,268

147,716

136,996

123,655

109,775

119,538

118,458

83

121

104

114

108

94

80

92

95

98

170

62

117

81

90

66

77

94

95

64

102

99

82

120

157

108

120

97

94

86

82

11

61

16

77

5

>100

85

47

37

100

22

6

48

24

78

51

71

44

57

49

39

91

62

58

90

13

18

40

5

81

23

13

26

82

51

46

99

93

40

1

60

20

76

3

14

97

91

22

78

92

28

34

41

79

16

64

71

66

88

85

83

84

84

85

79

84

85

81

80

84

86

82

85

79

77

84

85

81

83

84

84

79

81

84

82

82

86

81

87 (100)

91 (93)

92 (90)

88 (94)

91 (87)

91 (100)

88 (68)

96 (100)

86 (96)

93 (91)

97 (100)

71

84 (97)

83 (95)

83 (96)

94 (99)

80 (87)

86 (97)

94 (98)

95 (100)

90 (100)

88 (97)

92 (92)

70 (96)

91 (99)

93 (99)

89 (100)

92 (100)

90 (89)

88 (97)

86 (97)

66

33

42

87

59

>100

30

52

53

84

82

9

95

21

12

48

92

40

6

63

46

>100

5

>100

77

96

54

64

40

SD

22

FT

50

42

SD AMBA, NEASC AACSB

21

20

13

5

61

3

79

11

71

29

51

12

42

33

54

43

25

37

17

55

30

58

77

22

8

55

92

64

92

80

99

92

72

70

30

28

29

34

28

42

34

17

31

56

51

29

31

37

34

28

49

34

42

29

26

36

32

49

37

26

19

39

35

32

51

55

30

54

47

57

35

39

38

50

30

30

AMBA

AACSB, AMBA, EQUIS

AACSB, EQUIS

AACSB, AMBA, EQUIS

AACSB, AMBA, EQUIS

AMBA, BAC, NEASC

AACSB

AACSB, ACQUIN

AACSB, AMBA, EQUIS

AACSB, AMBA, EQUIS

AACSB

AACSB By the Japanese Ministry of Education AACSB, AMBA, EQUIS

AACSB

AACSB

AACSB, EQUIS

AACSB, EQUIS

ACBSP, IACBE, CEEMAN

AACSB, AMBA, FIBAA

AACSB, AMBA, EQUIS

AACSB, AMBA, EQUIS

AACSB

AACSB, AMBA, EQUIS

Royal Charter – United Kingdom

AACSB, AMBA, EQUIS

AMBA, EQUIS

AACSB, AMBA, EQUIS

AACSB, SACS

AACSB

AACSB, AMBA, EQUIS

AACSB

AACSB

AACSB

AACSB, AMBA, EQUIS

AACSB

AACSB, ADCSC, EQUIS

AMBA

AACSB

AACSB

AACSB

AACSB

AACSB

AACSB

AACSB, EQUIS, NEASC   

AACSB, EQUIS, NEASC

AACSB

MBA LISTINGS

100

80

90

70

90

34

100

30

42

56

15

88

95

98

38

96

95

44

39

84

46

47

81

41

32

41

22

38

32

67

69

>100

TE

15 92

FT

67

62

TE

11 85 (86)

FT

Accreditation(s)

16

83

FT

Women students (%)

AACSB, AMBA, EQUIS

49

FT

International students (%)

AACSB, AMBA, EQUIS

4

TE

Value for Aims achieved Employed at three money rank rank months (%)

88 61

FT

Salary percentage increase

12

109,273

FT

Weighted salary (USD)

12

22

12

Course Length

140 40,000 USD 44,460 USD 87,436 USD 35,883 USD 40,861 USD

India

India

US

France / Singapore

Japan

Monaco

Indian Institute of Management, Bangalore

Indian School of Business

Indiana University: Kelley School of Business

Insead International University of Japan – Graduate School of International Management International University of Monaco

31,000 EUR 65,750 USD 26,850 EUR 46,485 USD

UK

Netherlands

Australia

UK

Germany

Canada

Australia

US

Italy

US

Germany

London Business School

Maastricht School of Management

Macquarie Graduate School of Management

Manchester Business School/ Alliance MBS

Mannheim Business School

McGill University: Desautels

Melbourne Business School

Michigan State University: Broad

MIP Politecnico di Milano

MIT: Sloan

Munich Business School

44,948 USD

US

Portugal

Belgium/France

Netherlands

US

US

Ireland

The Lisbon MBA

Solvay Brussels School of Economics and Management

Tilburg University: TiasNimbas

UCLA: Anderson School of Management

University at Buffalo School of Management

University College Dublin: Michael Smurfit Graduate School of Business

Stanford Graduate School of Business

SP Jain School of Global Management

Texas Christian University: Neeley School of Business

Italy

SDA Bocconi

US

US

Rice University: Jones

Texas A & M University: Mays

Canada

Queen's School of Business

US

US

Purdue University: Krannert

Temple University – Fox School of Business

US

Pennsylvania State University: Smeal College of Business

US

US

Ohio State University: Fisher

Syracuse University: Whitman School of Management

UK

Nottingham University Business School

South Korea

US

Northwestern University: Kellogg School of Management

Sungkyunkwan University GSB

178,000 RMB

US

Northeastern University D'Amore-McKim School of Business

China

US

North Carolina State University: Jenkins Graduate School of Management

US Dubai/Singapore/ Sydney US

US

New York University: Stern

Shanghai Jiao Tong University: Antai

UK

Newcastle University Business School

Southern Methodist University: Cox School of Business

62,454 USD

France

NEOMA Business School

45,844 USD

33,848 USD

102,318 USD

37,500 EUR

32,000 EUR

35,000 EUR

44,605 USD

35,122 USD

58,158 USD

74,762 USD

44,500 KRW

64,050 USD

19,500 USD

44,200 USD

51,400 USD

87,000 CAD

44,816 USD

36,962 USD

49,099 USD

39,953 USD

64,059 USD

88,602 USD

39,954 USD

60,744 USD

21,000 GBP

36,000 EUR

58,000 SGD

Singapore

Singapore

Nanyang Business School

National University of Singapore Business School

44,860 USD

71,949 USD

79,500 CAD

33,000 EUR

42,000 GBP

65,600 AUD

14,900 EUR

112,785 USD

25,000 GBP

UK

UK

Lancaster University Management School

Leeds University Business School

26,600 USD

37,160 USD

India

Indian Institute of Management, Ahmedabad

39,000 GBP

Costs

UK

Country

Imperial College Business School

School name

79

34

40

69

5

39

25

53

93

89

75

11

19

32

29

9

65

87

85

49

38

56

3

98

35

1

54

29

62

24

35

56

9

63

53

13

82

50

45

80

62

31

74

7

11

87

59

15

35

43

38

28

24

85

83

90

8

29

60

66

11

38

22

67

7

32

12

19

9

53

43

39

3

61

29

49

22

4

30

23

16

19

2

3

28

20

Financial The Business Times Economist Week

Rankings

12

21

24

12

12 to 15

12

12

16

24

21

16

24

12

21

24

12

22

12

21

21

21

12

24

24

21

22

12

12

17

12

15

24

12

24

12

16

12

18

24

12

15

12

12

10

24

10

21

11

24

22

12

Course Length

107,185

140,067

92,289

123,584

107,362

185,939

113,340

122,955

126,207

93,761

104,612

110,129

162,923

150,510

115,148

119,032

159,909

103,672

95,356

88,345

109,622

117,918

126,736

154,150

89,202

106,638

166,510

119,970

138,454

137,294

174,274

112,301

FT

73

89

100

80

87

168

116

100

85

105

100

93

97

121

105

90

120

72

76

79

96

58

100

79

111

94

103

142

84

96

83

FT

45

53

29

87

95

89

12

31

59

30

35

68

83

66

97

73

76

2

34

80

>100

84

46

>100

72

75

15

3

TE

12

88

16

2

43

83

33

32

65

35

48

52

89

98

39

38

96

50

37

70

9

53

21

72

17

6

10

68

45

61

36

31

FT

78

83

82

82

85

76

84

83

82

80

83

85

84

80

79

83

84

81

83

83

82

80

87

78

85

84

84

80

74

80

82

FT

91 (100)

87 (98)

82 (100)

86 (100) 92 (97)

100 (99)

85 (86)

91 (99)

84 (97)

86 (100)

96 (91)

94 (100)

89 (96)

90 (96)

92 (97)

92 (98)

91 (100)

93 (94)

84 (92)

93 (88)

72 (95)

91 (100)

93 (99)

100 (74)

82 (94)

83 (98)

89 (100)

96 (94)

84 (100) 100 (100)

91 (94)

FT

35

69

75

57

61

27

88

50

29

59

80

25

91

14

15

16

67

22

3

56

47

31

25

76

89

31

39

17

1

TE

Weighted Salary percentage Value for Aims achieved Employed at three salary (USD) increase money rank rank months (%)

67

32

30

27

36

19

76

29

48

43

37

44

36

92

87

48

39

84

77

89

89

93

93

90

98

95

36

1

0

4

88

FT

48

52

27

40

26

>100

95

>100

>100

10

7

84

32

88

>100

44

52

55

9

66

84

23

1

18

84

TE

100

90

80

90

75

70

54

90

SD

International students (%)

31

30

36

24

40

45

30

35

31

27

23

43

35

40

33

41

40

25

35

40

31

34

37

57

43

30

29

29

26

19

45

FT

29

40

20

29

40

43

70

65

70

35

41

54

SD

Women students (%)

AACSB, AMBA, EQUIS

AACSB

AACSB

AACSB, AMBA

AMBA

AACSB, AMBA, EQUIS

AACSB

AACSB

AACSB

AACSB

AACSB

AACSB

ABEST21, TEQSA

AACSB

AACSB, AMBA, EQUIS

AACSB, AMBA, EQUIS

AACSB

AACSB, EQUIS

AACSB

AACSB

AACSB

AMBA, EQUIS

AACSB

AACSB

AACSB

AACSB

AMBA

AACSB, AMBA, EQUIS

AACSB, EQUIS

AACSB, EQUIS

FIBAA

AACSB

AMBA, EQUIS

AACSB

AACSB, EQUIS

EQUIS

AACSB, AMBA, EQUIS

AACSB, AMBA, EQUIS

AACSB

AMBA, IACBE, ACBSP, NVAO

AACSB, AMBA, EQUIS

AACSB, AMBA, EQUIS

AACSB, AMBA, EQUIS

AMBA

Ministry of Education

AACSB, AMBA, EQUIS

AACSB

AACSB

EQUIS

EQUIS

AACSB, AMBA, EQUIS

Accreditation(s)

MBA LISTINGS

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141

77,863 USD 72,977 USD

UK

Canada

US

US

University of Birmingham – Birmingham Business School

University of British Columbia: Sauder

University of California at Berkeley: Haas

University of California at Irvine: Merage

40,220 USD

74,760 USD 71,580 USD 109,944 USD 62,061 USD

US

US

US

US

University of Rochester: Simon Graduate School of Business

University of San Diego School of Business Administration

University of South Carolina: Moore

University of Southern California: Marshall

31,816 USD

48,832 USD 105,690 CAD

US

Canada

University of Texas at Austin: McCombs

University of Toronto: Joseph L Rotman School of Management

US

US

Belgium

US

UK

US

Canada

Germany

US

US

Canada

University of Wisconsin, Madison School of Business

Vanderbilt University: Owen Graduate School of Management

Vlerick Business School

Wake Forest University: Babcock

Warwick Business School

Washington University: Olin Business School

Western University: Ivey

WHU – Otto Beisheim School of Management

Wisconsin School of Business

Yale School of Management

York University: Schulich

1. FT - Financial Times 2. TE - The Economist 3. BW - Business Week 4. SD - School Data

44,175 USD

US

University of Washington: Foster School of Business

18

68

88

80

46

71

49

27

47

63

60

52

59

86

98

4

28

76

41

71

20

51

94

91

44

98

8

76

10

57

7

96

92

98

46

19

99

66

41

18

36

57

37

2

39

48

70

71

96

51

16

69

10

77

44

33

55

27

42

73

100

72

58

79

1

61

6

89

64

93

11

46

1

35

30

34

20

12

15

14

25

13

36

44

5

6

31

17

66

45

10

33

52

57

51

41

2

65

54

9

The Business Financial Times Economist Week

Rankings

16

22

21

15

12

22

12

21

12

21

21

21

21

20

21

12

12

20

12

22

22

12

12

21

12

21

21

18

22

16

21

21

21

14

22

24

12

21

11

12

21

21

21

21

16

12

12

21

16 to 20

12

Course Length

5. Value for Money: Calculated by considering the salary earned by alumni today, course length, fees, other costs, and opportunity cost of not working for the programme duration. 6. Aims achieved rank: The level at which alumni fulfilled their purpose of doing the MBA. 7. Career progress rank: Indicates the progress in career levels that alumni made pre and post MBA.

78,488 USD

61,500 USD

53,514 USD

49,033 USD

80,113 USD

53,500 USD

57,267 USD

83,984 USD

36,000 EUR

49,950 USD

27,815 USD

61,250 USD

University of Virginia: Darden Graduate School of Business Administration US

46,612 USD

Switzerland

UK

University of St Gallen

University of Strathclyde Business School

46,000 USD

60,240 USD

US

Australia

68,210 USD

University of Pittsburgh: Katz Graduate School of Business

US

University of Pennsylvania: Wharton

78,325 USD

48,530 USD

57,510 USD

26,950 USD

45,000 USD

59,450 USD

33,768 USD

60,150 USD

45,114 USD

63,980 USD

308,000 ZAR

74,846 USD

University of Queensland – Business School

US

UK

University of Notre Dame Mendoza College of Business

US

University of North Carolina: Kenan-Flagler

University of Oxford: Saïd Business School

US

US

US

University of Illinois at Urbana-Champaign

University of Iowa Tippie School of Management

University of Missouri, Columbia Trulaske College of Business

China

University of Hong Kong

US

US

University of Georgia – Terry College of Business

University of Minnesota: Carlson School of Management

54,409 USD

US

University of Florida Hough Graduate School of Business

US

Scotland

University of Edinburgh Business School

US

US

University of Chicago: Booth

University of Maryland: Smith

52,420 USD 38,225 USD

South Africa

University of Cape Town GSB

University of Michigan: Ann Arbor Ross School of Business

64,427 USD

UK

University of Cambridge: Judge

88,000 USD

US

US

University of California, Davis

University of California, San Diego: Rady

54,066 USD

71,278 CAD

35,808 USD

46,612 USD

US

UK

50,113 CND

University of Bath School of Management

Canada

University of Alberta

15,700 GBP

Costs

University of Arizona – Eller College of Management

Scotland

Country

University of Aberdeen

School name

152,232

110,745

100,209

114,130

112,287

121,231

120,279

147,104

134,317

99,450

112,940

128,782

108,834

109,756

97897

177,877

136,959

120,721

128,240

114,404

144,961

109,982

103,058

107,052

112,518

99,144

158,259

138,466

156,323

113,098

169,395

90,413

103,344

97,908

FT

108

111

71

80

70

95

87

109

92

91

60

87

119

102

105

84

81

97

97

85

107

97

113

97

106

66

107

68

95

110

93

72

71

55

FT

80

27

42

94

24

77

63

73

75

7

18

101

56

86

58

95

19

62

87

85

74

90

25

57

54

30

84

8

4

67

69

59

15

47

FT

87

84

82

82

79

84

84

85

81

82

84

82

86

79

79

84

85

84

83

87

85

82

83

82

83

77

85

78

86

80

85

77

77

78

FT

92 (99)

90 (100)

89 (98)

97 (95)

97 (98)

92 (99)

96 (100)

95 (100)

87 (97)

97 (88)

79 (85)

81 (9W9)

64 (100)

96 (90)

91 (100)

94 (94)

82 (89)

93 (98)

94 (97)

96 (95)

92 (89)

81 (99)

98 (100)

94 (79)

72 (87)

81 (86)

95 (99)

69 (97)

89 (89)

89 (100)

94 (99)

77 (100)

94 (84)

98 (83)

FT

74

49

>100

72

6

93

32

59

10

38

13

18

99

94

>100

24

40

18

4

83

51

43

55

64

71

58

77

65

79

45

8

44

23

81

35

68

TE

48

21

31

35

85

21

34

38

29

87

90

27

73

61

50

32

96

37

34

21

35

37

32

39

70

84

42

31

92

53

43

67

100

83

FT

4

36

49

81

80

8

>100

>100

76

19

72

77

90

46

74

74

73

90

40

32

31

40

32

26

33

35

32

29

20

30

48

44

33

43

31 24

30

30

29

32

37

26

27

36

47

42

40

38

33

41

35

32

41

FT

59

53

35

59

63

SD

35

32

20

28

39

35

30

40

30

SD

Women students (%)

14

60

91

50

95

97

55

>100

45

15

39

2

65

33

TE

International students (%)

AMBA

AMBA, EQUIS

AACSB

AACSB

AACSB, EQUIS, FIBAA

EQUIS

AACSB

AACSB, AMBA, EQUIS

AACSB

AACSB, AMBA, EQUIS

AACSB

AACSB

AACSB

AACSB

AACSB

AACSB

AACSB, AMBA, EQUIS

AACSB, EQUIS

AACSB

AACSB

AACSB

AACSB

AACSB, EQUIS

AACSB

AACSB

AMBA, EQUIS

AACSB

AACSB

AACSB

AACSB

AACSB

AACSB

AACSB

AACSB

AACSB, EQUIS

AACSB

AACSB

AACSB, AMBA, EQUIS

AACSB

EQUIS

AMBA, EQUIS

AACSB

AACSB

AACSB

AACSB

AACSB, EQUIS

AACSB, AMBA, EQUIS

AMBA, EQUIS

AACSB

AACSB

Accreditation(s)

8. Weighted salary in US $: States the average salary today, includes salaries for current year and one or two preceding years. 9. %age of salary increase: Displays the percentage increase in salary pre and post MBA. 10. International students: Shows mix of international students.

7

56

96

>100

25

19

32

67

43

54

74

60

79

81

55

14

>100

8

>100

>100

10

23

9

40

38

20

90

27

42

86

14

>100

65

63

93

17

TE

Weighted Salary percentage Value for Aims achieved Employed at three salary (USD) increase money rank rank months (%)

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2016-2017 EDITION

Executive

GUIDE

Global Publication for EMBA Students

Kings and Queens Switching Gears with a GEMBA A Friend in Need is a Friend Indeed Executive Examination

The Executive MBA nurtures the leaders of tomorrow

EMBA OVERVIEW

Kings and Queens

T

he Executive Master of Business Administration (EMBA) is widely regarded as a valuable addition to any senior manager’s CV. The resulting portrait is one of an experienced professional but not without the ability to display these qualities in the first place, as experience is a prerequisite to undertaking the degree itself. As the ‘executive’ part of the degree would suggest, the EMBA requires a more senior attitude towards business and administration. Potential students will normally be required to have several years’ of experience in managerial roles due to the extensive and advanced subject matter of the EMBA.

The EMBA student The EMBA is not generally as long as a graduate degree, and includes 16 modules to be taken over a span of 20-21 months, for the part-time degree. Most universities only offer the course as part-time because most students will have organisations to run or other business to manage. The entrance criteria are usually centered around such experience as this, with prospective students on average holding 12.7 years of working experience. For example, Massachusetts Institute of Technology (MIT) won’t even accept candidates without 10 years of business related experience under normal circumstances, and the median age of EMBA students at MIT is 40. As you might expect, this means that the average age of EMBA students is markedly higher than most other degrees. The average age of students enrolled in EMBA courses worldwide is 36.3 years old, according to financial expert Dave Ross. The age of the students is not as important as experience, but there are certain things that develop with age, such as flexibility and vision. This is illustrated nicely by Christer Holloman, the former senior business development manager at Glassdoor

who, after just four months of studying the EMBA at Oxford University, left his job to pursue a previously subdued ambition of founding his very own company. He claims that the skills he learnt in the EMBA programme gave him the courage that he needed to make the final step and go out into the business world alone. His company, Divido, is an online payments business which is gradually growing in size and power due to the immense funding that Holloman and his company are receiving from Seedcamp, amongst other interested investors. The prestige of the EMBA is undoubtedly a factor in the 1 million GBP funding he is receiving from benefactors. It does however usually cost anywhere from 50,000 USD to 150,000 USD to enroll in the EMBA programme depending on the university which, judging by the return that Holloman and other EMBA students are getting on their investment, could turn out to be peanuts in the long run. Holloman also has sponsors inside the university, from fellow students to teachers. The combined force of venture capitalists and equity partners means that the staggeringly high enrolment fee could be paid back in good time if adequate action is taken, during the course of study, to network and build business.

“The average age of EMBA students is markedly higher than most other degrees. The average age of students enrolled in EMBA courses worldwide is 36.3 years old.”

The EMBA class The exclusive cohort of proven leaders, selected by MIT and other top universities providing the best EMBA courses like the London Business School, is a good reason to enroll, as it brings like-minded, driven individuals together to share their wealth of experience. The average class size is 120, so there is plenty of networking to be done amongst elite professionals. There is also the database of alumni that enables them to stay in touch even after the programme has finished and build on what they have learnt and started together. The widely clichéd phrase ‘it’s not what you know, but who you know’ to some extent rings true in this instance, but the beauty of venturing into business with people who you know and who share the same wisdom as you, relieves a lot of the stress and pressure that can ACCESS EMBA GUIDE 2016-2017

145

overwhelm ‘newbie’ entrepreneurs. The mix of professions that can be found in a lecture theatre of an EMBA is second to none, heterogeneously speaking, resulting in ‘cross-functional perspectives’ and ‘productive collaborations’ as Ivyexec correctly observe.

The EMBA curriculum The resources that can be taken advantage of in an EMBA programme include a huge library full of statistical information and other useful resources. This allows thousands to access it without going through university, and even if you did want to do that, there is no guarantee that you would know how to use that information. Students learn various soft skills as well as the ‘bigger picture outlook’ according to Clifford Brown, EMBA alumnus at Oxford University and Partner at Rockworth Management Partners. The soft skills are integrated into the management framework and later become part of working lifestyles through practice. The EMBA degree enhances not only managerial skills, but leadership qualities that can be taken anywhere in the world. It embellishes this valuable skill-set leading to efficient, proficient, and energetic workers according

146

to Oxford University’s EMBA programme director Kathy Harvey. They do this in a fairly balanced framework which aims to limit static online learning and involve more dynamic experiences for students. This model includes some classroom activities involving small groups of students, some lectures where students can meet and take notes on EMBA theory, and experiential practical use of the concepts learnt. The University of Edinburgh EMBA programme consists of core modules including strategic marketing, leadership and responsibility, creative strategy and modelling business. Apart from that, there is also a strong focus on economics and business theory. The optional modules are limited and are all based on similar subjects, so it is not for those looking for a broad perspective on any one particular subject, but for those aiming to learn and practise only the vitally important skill-sets, and who have a detailed understanding of how certain business or financial models work. Those taking C-level management (the highest level of management) are tasked with coordinating their business and their workers whilst also maintaining private equity endorsements. CEOs need to be taught how to balance these aspects and many more so that their companies can thrive. If not, they are likely to lose control of their workforce and shareholders leading to the collapse of the company. Embezzlement and pyramid schemes are not uncommon in situations such as this, which is why it is a good idea to research the financial framework theory so one can avoid being subjected to illegal practices. The set modules of the EMBA deal with these prominent issues and give advice on how to cope as a leading authoritative figure. Whilst the EMBA requires serious dedication, time and resources, it can be rewarding for those looking to boost their ‘Mid-level’ career to reach the top of their field. It is an asset to those who are already in high positions as they can immediately turn theory into practice in their workplace. Equally, for those looking to branch out and try something new, it gives a safety net in the form of advice, resources, and connections. As Janet Dawson, currently studying an EMBA at Oxford University observes, the EMBA gets you to ‘ask better questions as much as it gets you to come up with the answers yourself’. □

“The EMBA degree enhances not only managerial skills, but leadership qualities that can be taken anywhere in the world.”

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EMBA OVERVIEW

Fortune Favours the Prepared The Value and ROI of the EMBA benefit the professionally and intellectually mature

F

ew options in business education are more suitable for a certain type of highly accomplished professional than the Executive MBA. Sure, there are the part-time MBA, the Global MBA and also some other interesting options. Rarely, however, could they offer a more aptly tailored curriculum for those with management experience or for the ambitious ladder-climbers just about to break into the executive world. This is reflected in satisfaction levels which are remarkably high among EMBA students, research data shows. The average grade for the degree is 4.1 out of 5, according to the Executive MBA Council, an academic organisation representing the executive education industry. Another survey, carried out by GMAC, suggests that EMBA students are the most satisfied with their degree among all MBA programmes. Of those interviewed, 95% report that they are happy with it and 95% of them say that they would recommend it. Unsurprisingly, the payroll is also excellent. The package comprising salary and bonus at the start of the programme of EMBA students in a 2014 survey was 155,848 USD – over 15,000 USD more than that reported in 2013. The degree itself definitely impacts the paycheck of alumni. By the programme end, the average salary and bonus package of EMBAs rose to 181,965 USD, which is an increase of over 20,000 USD in comparison to the 2013 figures. This represents an average increase of 16.8% from programme start to programme end for the 2014 -2015

148

period. The data also shows that 41% of students in 2014 were promoted during their studies. There were 2,323 EMBAs from 79 programmes who took part in the survey of EMBAC.

Money and value The gigantic boost in pay of MBA students of course cannot be matched, as most EMBAs are already excellently paid at the time of admission. Perhaps this is one of the reasons why 75% of them plan to keep their current employment, compared to just 15% of the Full-time MBAs, according to GMAC. Only Online MBAs and Part-time/flexible MBAs report higher satisfaction with their companies - respectively 88% and 77% of them say they would not switch employers. Overall, mainly due to the possibility of working while studying, the ROI of the EMBA is excellent. And that goes not just for the more reputable schools, but also for some lesser-known places that offer executive degrees. In recent years many renowned universities, although geographically distant, formed joint programmes, enabling students to feel the truly global flair of modern-day business. In the 2015 Financial Times EMBA ranking, for example, the leader is Tsinghua University/INSEAD and the next 5 places are occupied by schools in partnership too. Tsinghua University/INSEAD EMBA alumni report a salary of 324,115 USD three years after graduation. This is a growth of 80% vis-a-vis prior to graduation – a huge increase for an EMBA degree. The not-so-famous Rice University: Jones

programme stands at 40th place but still provides superb opportunities: a salary of 223,307 USD representing a rise of 49%, compared to that before graduation. And there are many similar other examples. ACCESS MBA Guide believes it would be a good idea not to disregard suitable EMBA opportunities just because it is a more boutique EMBA or simply doesn’t come from a top 50 school.

Why exactly EMBA? Most often EMBA allows students to finish their degree in 2-3 years, or sometimes even less, without putting their career on hold. But there’s more. Beyond the theme of money and the more flexible work-study rhythm, are candidates also interested if there is an idea behind the EMBA, one that differentiates it from the classical MBA? Ever since 1943, when Chicago Booth started the first executive education degree, the goal was not just to form global leaders, but to provide businesses with talented people that would develop them into truly global institutions. The pace of globalisation today accelerates and intensifies the need for the sort of managers who understand the importance of worldwide expansion. Perhaps Michael Desiderio, Executive Director of EMBAC put it best: “EMBA was born from a need to accelerate the development of business leaders and prepare them for greater leadership responsibilities(...) Business are now spans the world – even local businesses now more than ever looking to the global marketplace, and advances in technology are opening new opportunities. All these

changes contribute to a desire to develop and bring to market new products, services, and ideas more quickly than ever.” The content of EMBA’s programmes does not differ that much from the MBA’s. Some of it includes Finance, Accounting, Marketing, Leadership, Strategy, Operations Management, International Business, Economics, Entrepreneurship, Ethics, and so on. The combination of studying executive education and a continuing career, breaks down the barrier between theory and practice in the most useful way. The familiar network-making potential of MBA could even be stronger for EMBAs, as students know the worth of networking from first-hand experience. In 2014 close to 95% of executive programmes had an alumni networking event, says EMBAC. Despite the high level of company satisfaction of EMBA students, more than 92% of programmes offered career services and over 72 % had executive coaching. But who is the average Joe of executive education? According to the last available Executive MBA Council survey, he or she is 37.5 years old with 13.7 years of experience. And out of those 13.7 years, participants clocked an average of 8.7 years of managerial experience. EMBA has long been considered a joint employeremployee endeavour, the former often agreeing to pick up some part of the bill, sometimes all of it. This still holds true, with 35.6% of students having partial sponsorship, 24.6% - full sponsorship and 39.8% being self-funded.

The state of the economy, however, shifted the weight onto the shoulders of students. In 2008, when the crisis started taking its toll, 33% or one third of students enjoyed full sponsorship.

Keeping the balance With a median price of 74,883 USD for the degree it certainly does not come cheap. However, it is worthwhile, as long as it is adequately picked and suitable for the overall individual profile, professional experience, and career plans of the candidate. Since it is mostly mature people that choose to follow the EMBA road, it would be wise for the ones with spouses and children to make sure they make enough time for their personal lives. This is essential for happiness, even when one’s career is a priority. Some schools recognise this need and pay special attention to students’ partners. One way of doing this is by organising events at the programme’s expense during which the presence of spouses is encouraged - trips, dinners, orientation tours. “It is a valuable investment because it’s important for the students and significant others to know that the school cares about their families”, said Gonzalo Freixes, the associate dean of the EMBA at the Anderson School of Management in 2008 for an interview for the Wall Street Journal. And not much has changed ever since. Study/work/life balance is crucial for feeling good in one’s personal time and being productive at work. Nowadays maintaining this equilibrium seems even more valuable. □ D.G.

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E M B A F O R M AT

Switching Gears with a GEMBA The Global EMBA programme moulds three types of business executives – the trekker, the leader and the investor

I

n today’s fast-paced business environment, it is executives’ top priority to keep their competitive edge. It is one thing being a manager in a familiar environment, but a completely different story when it comes to developing into a global leader. This is where a Global Executive MBA could prove useful. Over the years, EMBA programmes have been quick to evolve and very successful in adapting to the business climate and requirements. Business education has long stopped being local. Indeed, the move by US schools into Europe, and later on the other way round, has been considered one of the major events marking business education evolution over the past 20 years, according to reputable sources such as the Financial Times (FT). “The first decade of this century saw a growing confidence at European schools as they looked overseas to develop relationships rather than competing with their peers at home. Campuses in the Middle East and Asia sprang up, the most significant being INSEAD’s in Singapore. Joint degrees, particularly with Chinese universities, flourished,” reads FT’s overview of programmes’ expansion.

The global business trekker The Global EMBA (GEMBA) is the “heavyweight” incarnation of this trend. There, executives with global aspirations

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set out on a path for uncanny knowledge that can lead to business growth on a truly international scale. The GEMBA’s focus is on creating global leaders with crossborder and cross-functional leadership and practical skills to manage their businesses in the international arena. GEMBA programmes offer the opportunity to receive first-hand experience of global business and obtain sophisticated knowledge about key world economies, all the while receiving and experiencing practical insights into local policies. Global EMBA programmes are indeed global. While the main part of the programme is carried out at a single place, certain modules are conducted at partner schools abroad. That way students can take advantage of the best those schools have to offer in terms of faculty, campus and

learning and networking opportunities. One such programme, Kellogg–WHU, named after the partnership between America’s Kellogg School of Management at Northwestern University and Germany’s WHU - Otto Beisheim School of Management, was established nearly twenty years ago, with seven campuses around North America, Asia, the Middle East and Europe. The programmes are also optimised in such a way as to offer maximum flexibility, mixing classroom training in Europe, the Americas and Asia with distance learning, making sure that executives are able to fit the programme into their busy daily schedule. The length of the programme varies from school to school – the Global EMBA offered by SDA Bocconi, for example, takes twenty months, with eight

concentrated one-week modules and two nine-day modules, carried out every other month. Bocconi is also one of the schools offering the most diverse locations, going from Milan to Los Angeles, Copenhagen, Shanghai and Sao Paulo, channelling various industries through each of these locations. The INSEAD programme is one of the most intensive, requiring 51-60 days away from the office in 14-17 months, while IESE lasts for up to 14 weeks, or 70 business days of modules in the span of 16 months.

The immersive leader The first year of a Global EMBA is focused on providing a strong foundation of essential business skills, and then building on these with advanced topics, usually electives, which can be selected based on the student’s specific interests. One of the top benefits of any EMBA programme is its multicultural nature, providing students with the opportunity to benefit from each other’s different perspectives and build knowledge on cultural and business specifics. Global EMBAs go one step further, allowing unparalleled and complete immersion in global markets and access to global study opportunities, all through local partnerships. Courses are taught in different locations, by distinguished local experts or faculty members, establishing a strong foundation of business concepts. The modules provide core business knowledge as well as valuable insights into the regional markets and geopolitical specifics. The Georgetown-ESADE programme, an alliance between Georgetown University and ESADE Business School, for example takes place in the business and government centres of Spain, Brazil, the United States, China, Qatar and India, and mirrors the complexity of the global business environment. Global immersion does not stop at the classroom door: the networking events organised at each location introduce

GEMBA participants to local alumni, as well as local business executives and officials. The schools do not simply offer a joint degree, but allow access to their full alumni networks, which often span all the continents. In the case of KelloggWHU, the alumni network includes almost 60,000 highly skilled professionals, and in Georgetown-ESADE the number is over 200,000, including noted leaders such as former US president Bill Clinton, King Felipe VI of Spain and former CIA director George Tenet. The Global EMBA provides more than just general management knowledge. It offers a good understanding of cultural specifics in international business and helps explain how geopolitics affects business decisions. However, this knowledge does not come solely from taught material and professors. Global EMBAs do a great job of capitalising on the skillsets, experience and background of their students, and use these actively in the classroom. Some programmes, such as Georgetown-ESADE, go a step further, aligning the assigned projects with the skills and interests of the entire project team. This increases the value of the experience and brings greater confidence in solving complex organisational challenges across different functions. Participants are also able to extend their learning and utilise their professional experience through live consulting projects for companies operating in different markets.

The shrewd investor The Financial Times 2015 EMBA survey shows an average salary increase of 41% in three years after graduation. Unsurprisingly, the two best-ranked programmes are global EMBAs: those offered by INSEAD and Tsinghua University (Tiemba), marking a massive 80% salary growth in a revenue segment that many already consider the “top one percent” earners in the world. Indeed, Global EMBA

programmes occupy the top five spots in the rankings. Yet, salary comes only third in importance as a criterion for enrolling in a GEMBA. Alumni have cited learning about management as their top motivator, rated 9.1 out of 10, followed by the networking opportunities. More than a quarter of the alumni started their own company during or post-graduation, and over 75% confirm having fulfilled the goals and justified the reasons they had for enrolling in an GEMBA programme. Leadership development and career coaching have also been major takeaways and critical success factors for GEMBA alumni. INSEAD students, for example, benefit from academic teaching, live fora and peer exchanges, 360-degree feedback and group coaching, while London Business School alumni work with a dedicated Career Centre coach to align career plans and receive advice on CVs, networking, interviewing and more. Joining a Global EMBA allows an entry into a world-class network of leaders. The GEMBA provides its participants with outstanding resources for leadership and personal development training. Executives will learn how to be entrepreneurs and how to build and develop a business on a global scale. In fact, career advancement, networking and cross-cultural exposure are just the tip of the iceberg. The Global EMBA programme challenges its participants to re-evaluate their career and create a story for themselves by providing a rich environment for personal and professional growth. But be aware of the fact that in order to reach new heights and reconsider a person’s value to business and society, they have to be prepared to switch the gear that has brought them this far. And that is exactly what the GEMBA excels at – catapulting executives out of their comfort zone in order to awaken the leader in them. □ E.V.

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EMBA ADMISSION

E

A Friend in Need is a Friend Indeed Convincing your employer to back your EMBA studies in a tangible way will take effort and preparation

xecutive MBA programmes are generally part-time, conducted in a modular format spanning 16 to 24 months. As most EMBA class members don’t give up their jobs while studying, business schools need to be sure that professional duties won’t hinder personal contributions to the class. That’s why EMBA students are required to have their employers’ support for their regular absences from work. Because of this, business schools have included employer endorsement as part of the admission process. It is of key importance as in this way schools ensure that EMBA students are able to commit the time, attention and energy needed to be successful in their studies. On the other hand, employers’ endorsements ensure that EMBA students are capable

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of contributing to the classroom learning environment and actively participating.

Begin with a simple letter Employer’s endorsements can be anything from an official formal letter by the student’s supervisor on company headed stationery, or a signed-and-stamped document indicating agreement between the employer and the employee. Or, it could simply be the employer’s consent for the student to attend the programme. It could also include a financial commitment by the employer. For example, at Wharton, all EMBA applicants employed by an organisation must have a formal letter of endorsement from their employer, signed by a supervisor and submitted on the company’s headed stationery. The letter should acknowledge that the company is aware of the employee’s

interest in applying for the programme; provide assurance that he or she will be able to take the time away from work to attend classes and handle approximately 20-25 hours of study during the week; and indicate the level of financial support the organisation intends to provide. The letter of endorsement is separate from the two professional recommendations required as part of the application. However, it can further support the applicant’s candidacy by providing an endorsement of the employee’s qualifications and leadership potential.

Answer the question Getting an employer’s support, especially when seeking sponsorship, might not be that easy. It definitely should be considered a serious step in the application process. INSEAD advises its executive MBA aspirants to consider efforts to seek their employer’s support as a business proposal. They should

be ready to answer a lot of questions when seeking this support. Would-be participants in the programme definitely need to know three things; themselves, i.e. their motivation in applying for the programme; their organisations and corporate policies with regard to supporting employees in their postgraduate studies; and the executive MBA programme, well enough to answer any question that may arise during the conversation with their employer. Answering the main question: “What kind of support do you need?” is of crucial importance. “Offer your employer a full and realistic picture of the time investment …,” says INSEAD in its guide to seeking an employer’s support for executive MBAs. When talking to an employer be ready to negotiate a variety of types of leave. It could consist of unpaid leave; additional paid leave; advance holiday leave; a sabbatical year; parental leave; or combining study with business trips.

Negotiate the terms The main question that employers ask when negotiating endorsements for EMBAs is “What will I get in return?” Employers see giving their endorsement as an investment and as such they need to know how this will pay off, how you getting an EMBA will contribute to the development of the organisation. Through your EMBA, you may obtain new managerial skills and improve your performance or you may learn the skills to develop new projects, or bring new networking opportunities, or get a fresh perspective on global issues. But how will this be reflected in the work you do directly for your organisation and, in general, how will you and your EMBA add value to the business in the long run?

financial sponsorship is at the discretion of the student’s organisation. It can range from covering tuition costs, to providing full financial support for the programme and travel expenses, or simply paying for some of the extra costs that attending the course entails. In recent years, financial support for executive MBA programmes has varied considerably from company to company and even within a company. Not so long ago, nearly all executive MBA students were fully sponsored financially, but that is becoming rarer. Now, most students pay for their studies themselves. Research from Poets and Quants shows that 41% of executive MBA students were fully selffunded in 2013, up from 34% in 2009. Only 24% of MBA students received full financial sponsorship. For example, at INSEAD, around 27% of the school’s executive MBA participants receive some level of financial support but typically only 19% of the class are fully sponsored. At the University of Cambridge Judge Business School, 46% of all executive MBA students have some level of financial support from their employer.

Know your options “When asking for financial support you should be realistic about the amount you ask for […]. The level of financial sponsorship you are offered may be in direct correlation to the return on investment that your employer feels they will receive from you attending the programme, or it may be attached to a retention clause stipulating that you must stay with the organisation for a set number of years post qualification. You may wish to explore the possibility of

being retrospectively sponsored, with a percentage of the fees being offered as the company sees the additional benefits you are able to bring to the organisation,” Cambridge advises. Another option to explore is a form of “retrospective” sponsorship, whereby the company pays a percentage of the total fees when the employee delivers certain pre-arranged conditions. For example, if workloads and deadlines are not compromised after attending the first couple of programme modules, the employer reimburses a pre-agreed amount to its employee. With “retrospective” sponsorship, an employer takes into consideration the real benefits you are likely to bring to your organisation through your EMBA. It might be the development of future corporate projects that you will be able to manage thanks to the degree, and so the arrangements need to be very clearly communicated between you and your employer. Some students take a wait-and-see approach. They are motivated to pursue an MBA and self-fund their education; and then, once they can demonstrate their value to their organisations, they seek reimbursement or compensation from their employer. Being flexible when negotiating your employer’s support is highly recommended. Considering it as a business proposal, particularly when it comes with financial support, is a good start. □ I.D-S.

Employers need to be persuaded that this investment in you will turn into a real business investment with real benefits. That’s why you should be very precise and talk clearly about how the organisation’s investment in your degree will enrich their overall business.

Try to get financial support Apart from time commitment, an employer’s support may also come in a financial form. While employer endorsement is required for admission, ACCESS EMBA GUIDE 2016-2017

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The Executive Assessment test may replace the GMAT in EMBA admissions

EMBA ADMISSION

Executive Examination

I

n March 2016 GMAC launched a new test to evaluate Executive MBA (EMBA) applicants. So far, leading international business schools have required that EMBA applicants sit the GMAT or a school-specific test. Some waived the GMAT requirement for applicants with considerable managerial experience. However, the issue of standardised testing for EMBA admission has been around for quite a while.

Challenges for testing executives Executive candidates typically have considerably more work experience than full-time or part-time applicants. On the one hand this means they must have developed better analytical and critical reasoning skills. On the other, they have been removed from the classroom for much longer and are not in the best position to take a standardised test. Another issue is that EMBA applicants, normally being in positions of higher responsibility, have less time to prepare for a test. GMAT preparation usually takes at least 100 hours and can span three to six months. It would seem that the Graduate Management Admission Council - creator and owner of the GMAT – has risen to the challenge and decided to develop a test tailored exclusively to EMBA students – the Executive Assessment (EA). This new type of test gives Executive MBA applicants another testing option that looks a lot like the GMAT, but may prove to be an easier path to success.

Executive Assessment (EA) vs. GMAT The key change comes with the different structure of the new exam. The EA puts a greater emphasis on critical thinking, analysis and problem solving and much less focus on pure mathematics and grammatical structures.

Another feature is the test duration. Unlike the three and a half exhausting hours of the GMAT, the Executive Assessment is over in 90 minutes. Here is a closer look at the similarities and differences between the two exams:

Test structure The GMAC Executive Assessment contains three sections: Integrated Reasoning, Verbal and Quantitative. Each section is just 30 minutes long, and the exam is delivered on demand at existing test centres around the globe. Scores are valid for five years, unofficial scores are provided at the test centre upon completion. Candidates are required to register at least 24 hours in advance. In terms of test structure, there are 40 questions: 12 Integrated Reasoning, 14 Verbal, and 14 Quantitative. The order of sections is slightly different from the GMAT, with Integrated Reasoning leading off, followed by Verbal and then Quantitative. Once you start the test, there will be no breaks between the different sections.

Test content and scoring

“This new type of test gives Executive MBA applicants another testing option that looks a lot like the GMAT, but may prove to be an easier path to success.”

From a content perspective, the test seems to be consistent with current GMAT questions, but with a slightly more skewed focus towards business. Some of the practice questions appeared in previous versions of the GMAT Official Guide. This suggests content that is consistent with current GMAT questions. The score scale is different – total scores will be reported on a scale of 100-200 (200-800 for the GMAT), and individual sections on scales of 0-20.

Is it computer adaptive? This test is not computer adaptive in the way that the GMAT is. Your answer to a single question does not determine the level of difficulty of the next question. Rather, questions are released in groups (based on your performance on the ACCESS EMBA GUIDE 2016-2017

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previous group). This type of testing is called multi-stage adaptive design.

Price and retake policy The Executive Assessment, although shorter, will actually cost you more (350 USD, compared to 250 USD for the GMAT). However, there is no fee for rescheduling – unless you are less than 24 hours from your appointment – or for additional score reports. If you are not happy with your score, you can retake the test, but you can only do so

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once. Compared to the 16 days to retake the GMAT, the EA waiting period is only 24 hours.

How business schools are welcoming the Executive Assessment GMAT has worked with business schools to develop the new exam. Currently, six schools have signed on to use the EA as part of their admissions processes: INSEAD (France), CEIBS (China), London Business School (UK), the University of Hong Kong, Columbia University (New York, US), and

the University of Chicago (Illinois, US). Some of these schools have already expressed a preference for the Executive Assessment, while others still accept the EA and the GMAT equally. While it will be some time before the new exam is well established, executive MBA applicants now appear to have a choice between the GMAT and Executive Assessment. However, before you opt for one or the other, check out the admission requirements of your selected business schools for any preference they may have between the two exams. □ I.B.

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EMBA INTERVIEW

“It’s About Confidence” One woman’s escape from her comfort zone and how that made her a stronger manager

Has the EMBA degree helped you achieve your career goals, if so, how?

Definitely yes! The EMBA has taken me on an entirely different professional path. I initially joined the programme with the ambition to further advance my career in a global corporation. The EMBA introduced me to abilities and interests, which were neither used nor developed in the corporate roles that I’ve held previously. It made me appreciate the wealth of opportunities available to me if I were to tap into them. Leveraging all the technical skills I learned throughout the programme and the inner strength and confidence I gained, I felt ready to step up my game, start my own business and write a new chapter in my professional life.

What has the EMBA given you career-wise?

The EMBA gave me an opportunity to thrive in a unique environment where I was able to meet and engage with extraordinary people from diverse backgrounds. The experience was instrumental in providing me with the confidence that I needed to try new things.

What particular soft skills did you acquire during your EMBA education and how have they made you a better manager?

The EMBA was an incredible selfconfidence booster. It enabled me to push the boundaries of my comfort zone, to go out there and dare. I learned to face challenges in new ways, but most importantly, I was able to realise that leadership is not tied to a position, but rather it is about the actions that we take

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Sandy Beky

HEC Paris EMBA Graduate, Class of 2014

Sandy Beky, a native of Madagascar, is the president and founder of the managerial innovation startup KyoSei Leadership, a partner for leadership consultancy IMV Management Partners, and a director of the adaptive software company JCLIP. Sandy has studied in the US, the UK and France, and has worked in various sectors throughout her career. She is also president of the Paris branch of PWN Global, a leadership development network for businesswomen.

and the courage to speak the truth, to behave according to one’s values. I saw myself grow as a person, and I think that allowed me to become a better manager. The EMBA took me on a creative personal and professional journey that did not end when I graduated.

What is your personal advice to managers seeking to advance to C-level?

The EMBA is a life-changing experience and can certainly open career doors. Yet, embarking on such a programme is a decision that must be viewed from different angles: the impact it will have on your family life, on your teams and colleagues at work, and on your social circles. Being able to keep those three environments stable and oneself healthy can prove to be a test of your capacity to handle a C-suite role. An EMBA is a delightfully disruptive journey, which takes us far beyond acquiring new technical skills.

Tell us about a situation where skills acquired during your studies have helped you make a vital managerial or strategic decision in your current company?

There are so many opportunities to learn throughout the programme’s duration that it is difficult to identify one in particular. And every lesson is of utmost value. The EMBA made me revisit my assumptions and reconsider the impact I want to have in life for myself and on others. I was particularly impressed by the brilliant and very talented individuals I met during the programme and I am extremely grateful for the strong connections I managed to keep with many of them since then. Some of these connections have led to strategic decisions in my professional life. In 2014, I set up my own business in Circular Economy applied to Human Resources (KyoSei Leadership) and became a partner in two different companies (IMV Management Partners and JCLIP Partners) founded by two HEC Paris EMBA alumni. □ A.Z.

GLOBAL

EMBA Features 2016-2017

Gain an In-depth Insight Through Features of Top Business Schools Ashridge Business School Hult Cass Business School Danube University Krems Edhec Business School ESCP Europe ETH Zurich ESSEC – Mannheim EMBA HEC Paris EMBA

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Kedge Business School Kellogg-WHU Manchester Business School|Alliance MBS MCI Management Center Innsbruck SKEMA Business School TELECOM Ecole de Management University of St. Gallen

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EMBA SCHOOL PROFILE

Ashridge Executive Education UNITED KINGDOM Student Body

Programme Presentation Ashridge has been a place of executive learning and development for over 50 years, having been founded in 1959 by visionary leaders from organisations including Shell, Guinness and Unilever. A World Class Business Reputation Each year, Ashridge works with two thirds of the FTSE 100 companies, over 850 corporate clients and 6500 executives across the globe. Ashridge holds triple accreditation of EQUIS, AMBA and AACSB – highly regarded hallmarks of quality and standards in education worldwide. Practical Approach Ashridge adopts an interactive and practical learning approach by having smaller classes. There is a strong emphasis on group work and discussions as opposed to traditional lecture-style classes. Learn from Real Business Leaders Ashridge faculty include high-achieving business and academic professionals who have a passion for developing leaders. We are not traditional academics. Most of us have extensive international experience, meaning we are fully immersed in the everyday issues and challenges you face.

This Executive MBA is for those looking to gain the strategic skills and vision required to respond to global and digital markets. This programme is for people working in the creative industries, such as film, TV, advertising, music, radio, games, fashion, digital, marketing, theatre, architecture, PR, publishing. Students will learn a range of skills through 12 subjects including innovation, operations management, creating strategic value, developing sustainable business practice, leadership, finance and managing globally. The course features a series of talks by leading creative industry managers, practitioners and commentators to provide students with further insight into leading in the creative sector. Students will benefit from working with and networking amongst their own peers, allowing them to gain transferable skills across the whole sector. Due to the flexibility of the combination of online learning and residential weeks at Ashridge, creative professionals can immediately begin to apply their learning to the workplace, without waiting until the end of the qualification.

Programme Info: Accreditations:

Type of Programme:

AACSB, EQUIS, AMBA We are ranked in the top 1% of business schools worldwide by the Financial Times Executive MBA

Programme Format:

Two years part-time study (blended learning, online and residential)

Content Strength or Specialisation:

Management, Leadership, Finance, Marketing, Sustainability, Entrepreneurship

Language Courses:

English

Application Deadlines:

Rolling

Starting Dates:

October2016

Exchange Programme:

International Study Trip

Rankings:

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Male Female Ratio: 45/55% Age Range: 23-51 Average Age: 36 International Students: Europe: 55% North America: 5% Central/South America: 12.5% Latin America: 2.5% Oceania and Asia: 15% Africa: 10%

Admission Requirements University Degree: Bachelor’s degree or equivalent (however experienced applicants with professional experience will also be considered) GMAT: None, however participants may have to sit an Ashridge Admissions Test TOEFL: If English is not your first language, you must provide evidence of strong English skills via either IELTS or other recognised proficiency tests References: Two Minimum Length of Work Experience: Three years with first degree, or 5 years with no degree

Costs Tuition Fees: 32,500 GBP + VAT Scholarships: Scholarships, financial assistance and educational loans available

Contacts Name: Admissions Office Email: [email protected] Telephone: +44 (0)1442 841120 Website: www.ashridge.org.uk

EMBA SCHOOL PROFILE

A Leading EMBA to Develop Your Career united kingdom Student Body

Programme Presentation Cass Business School is amongst the top one percent of Business Schools worldwide. Always aspiring to excellence, we constantly seek new ways to serve our students and the global business community. With a considered and successful balance between theory and practice, our programmes are delivered in both London and Dubai and we have an extensive business and alumni network. We attract people from all over the world and our global connections ensure that our students are immersed in a truly international environment. Cass’s location is a clear advantage for your study and career search. Situated between the financial district and Tech City, no other European business school has as many Fortune 500 companies on its doorstep. Our goal is to provide support to world-class businesses with world-leading thinking. Our research is ground-breaking and, through our partnerships with leading organisations, has a demonstrable impact on our students, business and society.

The Cass Executive MBA is one of the top ranked part-time MBAs in the UK and Europe. It offers academic excellence and outstanding connections with international businesses. Taught by leading faculty, the Executive MBA is offered over two years in a range of formats- modular and evening in London or block format in Dubai. The structure delivers core business skills with flexibility to focus on areas of personal interest. Designed for ambitious working professionals, the Cass Executive MBA focuses on real-world business. You know that what you learn in the classroom can be applied to your work environment almost immediately. From day one, you will encounter stimulating challenges and unique learning experiences. This is your opportunity to join a diverse community of equally enthusiastic and focused professionals, taught by an international faculty in the heart of London.

Modular Executive MBA 2016-18 Male Female Ratio: 48/52% Average Age: 37 Average work experience: 14 years International Students: United Kingdom: 48% Europe: 24% North America: 2% Africa and Middle East: 7% Oceania and Asia: 14% Latin America: 5% Modular Executive MBA 2015-17 Male Female Ratio: 77/23% Average Age: 34 Average work experience: 10 years International Students: United Kingdom: 61% Europe: 25% North America: 5% Africa and Middle East: 7% Oceania and Asia: 2%

Admission Requirements Admission requirements differ depending on your programme of choice. Please refer to our website for details.

Costs

Programme Info: Accreditations:

AMBA, EQUIS, AACSB

Content Strength or Specialisation:

Executive MBA ranked 5th in the UK, 14th in Europe and 32nd in the world, Financial Times 2015 Two-year Executive MBA Executive MBA Modular Executive MBA Executive MBA in Dubai General management with electives in Finance, Analytics, Strategy, Consultancy, Marketing and Entrepreneurship

Application Deadlines:

Our Executive MBA programmes have rolling admissions

Starting Dates:

Modular Executive MBA: March Evening Executive MBA: September Executive MBA in Dubai: September

Rankings: Type of Programme: Programme Format:

Tuition Fees: Executive MBA: 44,000 GBP Modular Executive MBA: 44,000 GBP Executive MBA in Dubai: 36,500 GBP Scholarships: Various awards available http://www.cass.city.ac.uk/mba/ executive-mba/scholarships

Contacts Name: Cass MBA Email: [email protected] Telephone: +44 (0)20 7040 0286 Website: www.cassmbalondon.com

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EMBA SCHOOL PROFILE

The University for Continuing Education AUSTRIA Student Body Male Female Ratio: 60/40% Age Range: 30-45 Average Age: 39 International Students: 30% Europe: 100% As the only public university for continuing education in the German-speaking countries, the Danube University Krems (DUK) sets international standards for lifelong learning. Students of DUK are managers and experts who have already completed an academic degree and/or have already gained a wealth of experience in their professional lives. They want to expand or update their expertise and competences, building upon their existing knowledge and experience. They aspire to successfully face the challenges of a rapidly changing, complex, networked and globalised society. When DUK first opened its doors to students in 1995, a competence centre for scientific specialisation was created that focused on the pressing challenges of our times, with continuously evolving study courses. Today, three faculties are successfully engaged in teaching and research; approximately 18,000 people have already graduated from the University of Continuing Education. Follow us on this site through over 25 successful, exciting years.

with a new understanding of their leadership role in a dynamic and complex global business environment. Our special focus on leadership, strategy, innovation and entrepreneurship ensures that our participants gain state-of-the-art business knowledge and leadership skills. This is also represented by the EMBA programme´s motto: “Lead innovatively. Learn globally. Act strategically”. EMBA participants study in small learning groups to reflect their knowledge and their professional experiences profoundly. They are educated and supported intensively by our internationally renowned faculty, providing our participants with a solid business and management knowledge foundation with high practical orientation.

University Degree: University degree or equivalent qualification GMAT: DUK internal management test TOEFL: Fluency in English Minimum Length of Work Experience: Five years of professional experience Three years of leadership experience Convincing personal and professional goals

Costs Tuition Fees: 29,200 EUR Scholarships: Available for selected groups of applicants. Please visit Web page for information

Two academic and corporate study programmes are included:

Contacts

• Hong Kong, China (Hong Kong University of Science and Technology – HKUST) and

Name: Dr Doris Burger Email: [email protected] Telephone: +43 (0) 2732 893 2113 Website: www.donau-uni.ac.at/ executive-mba

Programme Presentation

• Silicon Valley (Stanford University).

The Executive MBA programme (EMBA) offers a modular and executive-friendly format. Its part-time curriculum provides experienced managers and entrepreneurs

The 3 Dimensional Learning Model considers the individual, organisational and environmental perspective of the executive´s fields of learning.

Programme Info: Accreditations:

FIBAA, AQ, ACBSP-Candidate

Rankings:

# 1 EMBA Programme in Austria – Industry Magazine Ranking 2014, 2015 and 2016

Type of Programme:

EMBA

Programme Format:

Part-time, on-site, 10 six-day modules every two months (2 study programmes: Hong Kong + Silicon Valley)

Content Strength or Specialisation:

Leadership LAB, Strategy and Innovation Management, Global Business Dynamics, Complexity Management and Business Ethics

Language Courses:

English

Application Deadlines:

Rolling Admission

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Admission Requirements

EMBA SCHOOL PROFILE

EDHEC Executive MBA a Transformational Experience FRANCE Student Body

EDHEC Business School has been providing first-class management education for more than 100 years and is constantly ranked among the Top 5 Business Schools in France. EDHEC aims to be recognised for its high-quality research and education and for innovative ideas and tools that impact business. This “EDHEC for Business” strategy is underpinned by excellent academic research, the results of which are systematically disseminated through EDHEC’s academic programmes, and to the business world and society at large. EDHEC holds the ‘Triple Crown’ of international accreditations (AACSB, AMBA, and EQUIS). Key facts : • 5 campuses: Lille, Nice, Paris, London and Singapore • 7,000 students and 10,000 participants in Executive Education, conferences and seminars organised in 28 global economic capitals • 20 degree programmes: Undergraduates, Master’s in Management, Master’s of

Science, MBAs, PhD • Over 30,000 graduates in 120 countries • 142 permanent faculty • 13 research and teaching chairs Programme Presentation The EDHEC Executive MBA programme is designed for experienced managers, entrepreneurs and senior executives seeking to experience a professional transformation. It enables you to polish your leadership skills and gives you a fresh perspective on global business. WEEKEND FORMAT Lille Campus Friday & Saturday, twice a month Length: 16 months Lille Campus: located at the heart of the Euroregion. WEEKDAY FORMAT Paris Campus Wednesday-Saturday, once a month Length: 16 months Paris Campus: An exceptional business environment, in Central Paris, near Opéra.

Male Female Ratio: 66/34% Average Age: 39 International Students: 14 nationalities, 22% international students

Admission Requirements University degree: Bachelor’s degree or equivalent Minimum Length of Work Experience: 8 years

Costs Application fees: 100 EUR excl. V.A.T Tuition fees: 39,500 EUR excl. V.A.T (including Global Business Trips) Scholarships: A variety of financial aids are available for this programme

Contacts Name: Julie LE GOUËZ Email: [email protected] Telephone: +33(0)1 53 32 76 30 Website: http://emba.edhec-executive. com/ We also offer... EDHEC Family Business GEMBA: The first Executive MBA specifically created for the future leaders of Family Businesses. Find out more: www.edhec-familybusiness-gemba.com

Programme Info: Accreditations:

AACSB, AMBA, EQUIS

Type of Programme:

Executive MBA 16 months, Part Time: Paris (weekday format) and Lille (weekday format) Core courses A large choice of cutting-edge Electives Individual Consulting Project 5 Coaching sessions English 30 June and 30 December September or February

Programme Format: Content Strength or Specialisation: Language Courses: Application Deadlines: Starting Dates:

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EMBA INTERVIEW

The only Executive MBA to offer classes in five European countries Could you please describe your EMBA programme?

experience who strive to take their career to the next level. We welcome those with high potentials who are ready to share their insights with their peers and are willing to learn in return.

The Executive MBA at ESCP Europe is topranked, international, highly customisable and based on close and supportive relationships.

The current class brings together 103 participants from 31 different nationalities (all continents represented) and diverse business sectors. They have, on average, 13 years of experience and 24% of the group are women.

Singled out by the Financial Times’ 2015 Ranking, our Executive MBA ranks #13 worldwide, as well as #3 for International Course Experience and for Career Progression, with a 72% average increase in salary. ESCP Europe is the only business school to provide its Executive MBA participants with the opportunity to study at five campuses across Europe: Berlin, London, Madrid, Paris and Turin, as well as in Beirut at its sister school, ESA. This international positioning is what makes the programme unique: participants plan their curriculum in various countries, enjoying the benefits of both academic and personal experiences, and taking advantage of the wide ESCP Europe network. Our Executive MBA is a customisable, parttime programme: the length, locations and large choice of electives are all designed to meet the specific needs and schedules of busy executives. Last but not least, the Executive MBA team prides itself on providing a highquality personal development service to all participants. Our programme leads them to reflect upon themselves and to discover as-yet-untapped skills and

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Could you describe the structure and curriculum of your programme? Valérie Madon

Director of the Executive MBA Programme ESCP Europe Valérie Madon has been the Director of the Executive MBA programme at ESCP Europe since January 2011. She is the former Director of the pre-experience Master in European Business (MEB) programme and also a Professor in Financial Accounting. She has taught at ESCP Europe and other institutions.

personal resources that transform them and take their careers to the next level.

What kind of candidates are you looking for? The Executive MBA is geared towards talented and ambitious professionals with at least five years of managerial

The Executive MBA is organised as a parttime programme lasting 18 to 30 months, based on 4 pillars:

9 core courses: to become proficient in the fundamentals of effective management; 10 elective courses: chosen from a portfolio of more than 50 specialised courses across Europe; 5 international seminars: to focus on leadership, innovation management, strategy and regional developed and emerging market environments in Europe (Paris, Brussels, Madrid), Asia (Shanghai, New Delhi and Ahmedabad) and the Americas (New York City, São Paolo and Rio de Janeiro); 1 International Consulting Project: to perform a real-case executive analysis within a multicultural team. □

EMBA SCHOOL PROFILE

Manage Global Operations and Supply Chains S wit z erland Student Body Male Female Ratio: 72.5/27.5% Average Age: 35 Average Work Experience: 9 years Degree Background: All disciplines International Students: 35 nationalities

Admission Requirements ETH Zurich is one of the leading international universities for technology and the natural sciences. It is well known for its excellent education, ground-breaking fundamental research and for implementing its results directly into practice. Twenty-one Nobel Laureates have studied, taught or conducted research at ETH Zurich, underlining the excellent reputation of the university. The latest international rankings place ETH in top positions. Both the Times Higher Education Ranking and QS World University Rankings rank ETH 9th in the world, the highest overall rating for the past years. Programme Presentation Offered by ETH Zurich, the executive MBA in Supply Chain Management creates apt business leaders, capable of managing global operations and supply chains. Our students gain cutting-edge insights from our faculty and are able to put those ideas into practice in important markets. They acquire the practical tools and methodologies, enrich their leadership personalities, and build relationships required to make their companies more competitive. The 18-month part-time programme, enables students to continue to work in their organisation while gaining valuable insight into industry, the latest tools, and

cutting-edge research. The classes take place from Thursday to Sunday, starting in September every year. Benefits of joining the executive MBA at ETH Zürich: • Acquiring up-to-date general management skills, combined with in-depth knowledge of international supply chain management • Becoming familiar with process based oriented management thinking • Gaining a truly global perspective with practical on-the-spot experience through 10 VIP Talks of CEOs and Board members of large companies in the area, numerous company visits, and study trips to the USA, Russia, China, and Japan • Carrying out a Master’s Thesis of high relevance and immediate value for the employer: 71% of thesis projects have been already put into practice six months after graduation • Joining an exclusive class of managers and specialists, chosen based on the highest standards regarding educational background, job experience, and intellectual capacity • Learning in a small class, characterised by personalised teaching, as well as by intensive interactions between students and lecturers • Obtaining an MBA degree from ETH Zurich, one of the world’s leading universities

University Degree: Master’s or Bachelor’s degree with excellent grades and additional qualifications GMAT or TOEFL: Are not required Minimum Length of Work Experience: Five years

Costs Application Fees: 150 CHF Tuition Fees: 65,000 CHF (60,000 CHF if early application)

Contacts Name: Ramona Montalto and Patricia Roth, Recruiting Managers Email: [email protected] Telephone: +41-44-632 28 53 Website: www.mba.ethz.ch

Programme Info: Type of Programme:

Executive MBA

Programme Format:

Part time

Content Strength or Specialisation:

General Management with in-depth knowledge of Supply Chain Management

Application Deadlines:

30 April (28 February for early application)

Starting Dates:

September every year

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EMBA INTERVIEW

“Believe, Lead, Succeed” With the inception of the ESSEC & Mannheim Executive MBA in 2004, two of Europe’s leading business schools - ESSEC and Mannheim Business School - joined forces to create an 18-month part-time generalist MBA that is European in tradition and international in outlook. Since then, the partner schools have widened the programme’s international scope by integrating an AsiaPacific track, delivered from ESSEC’s Singapore campus. The programme now boasts over 1,500 alumni around the globe, successfully leading top international companies.

Could you give us a brief overview of your EMBA programme? The ESSEC & Mannheim Executive MBA offers senior executives a fast-track solution to career advancement through an international programme designed to expose them to both core management basics and evolving cutting-edge business topics and includes an integrated leadership track that prepares them to take on top business roles.

What are the characteristics you are looking for in applicants?

Ideal applicants believe in their potential to become global leaders. They are driven and believe in working with others. All are executives with at least a Bachelor’s degree and a minimum of eight years, work experience, part of which is international. Top applicants usually possess several years of leadership experience, and all speak fluent English.

What makes your EMBA unique amongst business schools? The Career Advancement and Leadership

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the programme. Leadership development elements and a strategic project span the entire programme.

What are the types of organisations that tend to employ your graduates the most?

Natalie Kettner Director of Executive Programmes ESSEC Executive Education Development Tracks are two unique components of this EMBA. Through coaching, workshops and networking events and leadership courses (including experiential military training) and the writing of a “Leadership Journal,” these tracks provide participants with the confidence and skills necessary to take on their next career challenge. This programme also allows you to design your own learning experience through Advanced Immersion Modules (AIMS), in-depth electives on cutting-edge topics, in Paris, Mannheim and Singapore.

Could you describe the structure of your programme?

Our EMBA programme offers an executivefriendly format with courses from Tuesday or Wednesday to Sunday every six weeks and few out-of-office days. Participants alternate taking core courses such as strategy and finance with electives on cutting-edge topics. Two international residencies occur towards the middle of

Our participants come from a variety of backgrounds and sectors and their motivations for attending the programme differ, as do their post-programme goals and paths. However, most graduates continue working for companies, many of them large and international. A number of them also go on to create and run their own companies.

What advice would you offer to a person who is thinking about getting an EMBA?

The decision to do an EMBA programme also concerns your family and colleagues. It’s thus important to discuss this project extensively with your close network so that everyone’s expectations and roles are clear. Contacting programme alumni to discuss how to balance professional, family and academic life during the programme is also recommended.

How global is the programme, and what is your school doing to reinforce this position? We recruit from our campuses in three different countries (France, Germany and Singapore), resulting in culturally diverse classes. An Asia-Pacific track was added to the programme in 2014 and ESSEC inaugurated its state-of–the art campus in Singapore last year, providing for elective options in this city-state. Participants additionally develop a cross-cultural business perspective through study trips to the United States and Asia. In 2016, ESSEC opened a campus in Morocco, a potential future EMBA programme destination. □

EMBA SCHOOL PROFILE

1 Degree, 8 Majors, 14 Locations FRANCE Student Body

Created in 1881 by the Paris Chamber of Commerce and Industry, HEC Paris aims to train high potential individuals, capable of becoming architects of a responsible world. What makes HEC Paris unique is its conviction shared by the HEC Community: knowledge determines the freedom and entrepreneurship required for a better world.

offer participants the opportunity to study in different countries with classmates from very diverse backgrounds.

HEC Paris’ mission is twofold: training the global leaders of tomorrow and taking an active part in the production of knowledge of management, thanks to our internationally renowned faculty who are at the forefront of their respective fields.

In keeping with HEC’s motto: “The more you know, the more you dare”, our goal is not only to strengthen the technical expertise and leadership skills of future global leaders, but also to enable you to “dare” to implement innovative ideas and solutions in complex professional situations.

Programme Presentation The HEC Paris Executive MBA offers modular, executive-friendly formats to suit a variety of work schedules. Delivered around the world and offering a range of majors (specialisations), it is uniquely positioned to

Our special focus on strategy, leadership and the global business environment ensures that our participants gain comprehensive, innovative and applicable knowledge and skills.

Our internationally renowned faculty members draw on extensive real world experience to provide participants with a solid foundation in management fundamentals and exposure to cutting-edge business knowledge.

Male/Female Ratio: 80/20% Age Range: 31-49 Average Age: 39 Number of Accepted Participants Enrolled in 2015: 243 participants International Students: Europe: 66% Asia and Middle East: 22% Average Professional Experience: 15 years

Admission Requirements University degree: University Degree or equivalent (official diplomas) GMAT (minimum): Required or HEC internal management test TOEFL, TOEIC or IELTS for non-native English speakers References: Two persuasive letters of recommendation Minimum Length of Work Experience: 8 years of professional experience (International exposure, Management experience, Convincing personal and professional goals) Languages of Instruction: English, English/French or English/ Chinese (translation) Intakes Paris, France intakes: English Modular: January End-of-week: March One-day-a-week: September Paris Modular: October Doha, Qatar intake (in partnership with the Qatar Foundation): February

Contacts

Programme Info: Accreditations: Rankings: Type of Programme: Programme Format: Application Deadlines: Starting Dates:

AMBA, AACBS, EQUIS Ranked #2 worldwide by the Financial Times for Executive Education in 2015 Executive MBA One-day-a-week; Six-day modules every month; 2 nine-day modules and 4 six-day modules; End-of-week Rolling admissions January, February, March, September,October

Name: Sara Drews Email: [email protected] Telephone: +33(0) 1 39 67 75 18 Website: www.emba.hec.edu

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EMBA SCHOOL PROFILE

Global EMBA – #1 Worldwide Salary Increase (FT) F R A N C E & C hina Student Body

Programme Presentation

Paris, Bordeaux, Marseille, Shanghai Kedge Business School is the largest Business School in France and belongs to the close circle of the top 1% of Business Schools worldwide with triple accreditation (AACSB, EQUIS, AMBA). With campuses in Paris, Bordeaux, Marseille, Toulon, Dakar and Shanghai, Kedge is strategically positioned to meet the needs of both aspiring professionals and confirmed Executives. KEDGE offers a wide range of undergraduate and graduate degrees, as well as an extensive portfolio of Executive Education programmes. The internationally-focused KEDGE Business School comprises: - More than 12,000 students on 4 continents, - A network of 50,000 graduates, - 196 permanent research professors, - 300 international academic partners. Our three strategic axes to drive changе: • CREATE: pedagogical innovations of traditional approaches to higher education to strengthen creative skills • SHARE: ideas and resources to find answers to our world’s challenges. Kedge encourages all talent: 1 million EUR awarded in internal scholarships every year • CARE: about all students because the future is in their hands. CSR is embedded into the DNA of Kedge

KEDGE Part-time Global Executive MBA: A World-Class Degree The Kedge MBA is globally diverse and comprehensive, delivered across one or several of your choices of campuses in a modular format that offers enormous flexibility for busy and mobile executive participants. Personal development, creativity and responsibility remain our core values. • 14-24 month flexible & modular programme -3 days per month • 100% in English • 13 Business fundamental modules • 10 Online modules • 2 International business seminars (USA, India, China, South Africa, Russia, Brazil, UAE, Australia...) • Business development project • Personal & leadership development path through personalised Exec. Coaching • 600 Contact hours minimum • 4 Campuses (Marseille, Bordeaux, Paris and Shanghai) • 12 Global academic partners (Europe, Canada, US, Asia, Latin America, Australia, Africa) • 1,200 International Alumni • 9 Specialisations: Entrepreneurship, Aligning Global Strategy and Supply Chain Strategy, Driving Ecosystemic Innovation, Global Management, Finance, Talent Management, Branding Strategy for Business Development, Wine & Spirits Management, Driving Sustainable Change

Rankings: Type of Programme: Programme Format: Content Strength or Specialisation: Language Courses: Application Deadlines: Starting Dates: Exchange Programme: Percentage of salary increase:

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Admission Requirements University degree: University Degree or equivalent (official diplomas) GMAT (minimum): 650 or our in-house test (Global MBA Business Admissions Test) + admission interview TOEFL: 110, TOEIC: 750, IELTS 7.5 for non-native English speakers References: Two professional letters of reference (our form) Minimum Length of Work Experience: A minimum of five years, managerial experience (CV)

Costs Application fees: 120 EUR (includes the Business Admission Test) Tuition fees: 35,000 EUR

Scholarships

Programme Info: Accreditations:

Ratio of Applicants to Places: 57% Male Female Ratio: 30-35% women Age Range: 31-49 Average Age: 39 Degree Background: University Degree or equivalent International Students: 30-35% Europe: 80% North America: 6% Central/South America: 2% Oceania and Asia: 5% Africa: 7%

AMBA, EQUIS, AACSB #1 Worldwide for Salary Iincrease, 23rd Exec MBA worldwide in 2015 Financial Times Part-time Modular Executive MBA Can be completed in 14-24 months - you set your own pace A strong framework of courses, electives, specialisations and international seminars delivered in a flexible format, plus a 2-year individual accompaniment programme English All year long Marseille: Nov. 2016; Bordeaux: Jan. 2017; Paris: Oct. 2016 & Feb. 2017; Shanghai: Jan. 2017 12 EMBA partnerships with major international business schools on 4 continents 114% (FT ‘15)

Scholarships available to promote diversity (international, women, unique achievement/experience), excellence and entrepreneurship/professional conversion

Contacts Name: Kirt WOOD Email: [email protected] Telephone: +33 (0)6 03 34 32 94 Website: mba.kedgebs.com

Executive MBA Ranking 2015

FLEXIBLE, MODULAR, DESIGNED FOR BUSY PROFESSIONALS. FOCUSED ON YOUR PROFESSIONAL AIMS. “ONE OF THE MOST INTERNATIONAL MBAS” (AMBA ACCREDITORS) . 23 RD EXECUTIVE MBA WORLDWIDE (FINANCIAL TIMES).

mba.kedgebs.com

EMBA SCHOOL PROFILE

KELLOG

Local Knowledge. Global Expertise G ermany Student Body

Programme Presentation WHU – Otto Beisheim School of Management is a privately funded business school based in Vallendar/Koblenz and in Düsseldorf. It is a leading business school in Germany and is continuously ranked among the top business schools in Europe. WHU was founded in 1984 and has become a model for future-oriented research and teaching in the field of business economics. The university has placed highly in national and international rankings, coming in at number 8 in the 2015 Financial Times Master’s in Management Ranking (best German university), number 6 in the 2015 Economist Which MBA? Executive Education Ranking (best German university), and taking 4th place in the 2014 Wirtschaftswoche HR University Ranking (best private university). WHU’s academic degree programmes and executive education programmes provide excellent educational opportunities for every career stage. We are dedicated to our motto “Local Knowledge. Global Expertise.”, which can be seen in our graduates’ professional success, our faculty’s research results and our profitable collaborations with international business partners.

The Kellogg-WHU Executive MBA programme, based in Germany, is a joint EMBA between America’s Kellogg School of Management at Northwestern University in Chicago and Germany’s WHU - Otto Beisheim School of Management Vallendar /Düsseldorf. The programme combines the expertise of American and European management and offers students the opportunity to gain new perspectives from major world regions. Our top-ranked EMBA programme combines required core and advanced courses with global electives at one of the Kellogg School of Management’s international hubs: Chicago, Miami, Hong Kong, Beijing, Toronto and Tel Aviv. The faculty is composed of business experts from Kellogg, WHU and partner schools, whose innovative ideas and extensive research are constantly shaping global business education. The programme aims at developing managers into cross-border and crossfunctional leaders. Therefore, leadership and personal development activities are fully integrated into the programme’s curriculum through our Advanced Leadership Development Programme.

Programme Info: Accreditations: Rankings: Type of Programme: Programme Format: Language Courses: Application Deadlines: Starting Dates: Exchange Programme:

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AACSB, EQUIS, FIBAA Premium Kellogg-WHU Executive MBA Programme was ranked by the Financial Times (2015): Top 20 EMBA programme worldwide Top 10 EMBA programme in Europe # 1 EMBA programme in Germany Global Executive MBA Modular, 21 months + master thesis English Rolling admissions, latest by 31st July every year Mid-September, every year Global elective modules in Chicago, Miami, Tel Aviv, Hong Kong, Beijing, Toronto

Male Female Ratio: 80/20% Age Range: 31-55 Average Age: 37 International Students (entering class of 2015): 77% Europe/Non-EU-Member States: 16% Europe/EU-Member States excl. Germany: 30% Germany: 24%, North America: 4%, Central/South America: 4%, Asia: 20%, Africa & Middle East: 2% Seniority (entering class of 2015): Manager: 34%, Senior Manager: 22% Director: 28%, Owner/Partner: 6% CXO: 6%, VP: 4%

Admission Requirements University degree: Or international equivalent with satisfactory grades, fluency in English, minimum 8 years of professional experience (with substantial managerial experience), be in full-time employment. GMAT: No TOEFL: Minimum 100 points IBT References: Two Essays/interviews: Participation in one Interview Day is required, short essay questions within application form

Costs Application fees: 200 EUR Tuition fees: 79,000 EUR (early bird tuition reduction of 3,000 EUR if complete application submitted by 31st May, every year) Scholarships: Please visit website for more information

Contacts Name: Beate Allar Email: [email protected] Telephone: + 49 261 6509 186 Website: www.kellogg.whu.edu

EMBA INTERVIEW

“My Class Is Much More Diverse than I Expected” Interaction with EMBA classmates is as important as what the faculty teaches us Amaka, why did you decide to pursue an EMBA with KelloggWHU?

a business. Through my Kellogg-WHU network I am surrounded by people with this knowledge, so I can learn from them.

I’m already very technically sound; I’m a qualified accountant and I possess a lot of work experience. I always wanted to go further with my professional studies but the timing was just never right. When I eventually decided to do an MBA, it was because I wanted to start my own business. I already have a lot of entrepreneurial ideas that I want to develop. But how do you evaluate and choose the best one? That’s when I realised I needed an MBA.

How would you describe the learning environment in the Kellogg-WHU EMBA Programme?

What is your goal and how will the EMBA help you achieve it? As mentioned above, I am hoping to start my own business. The Kellogg-WHU EMBA has a strong focus on entrepreneurship, which is one of the reasons I chose this programme. I believe the diverse entrepreneurship classes will help me structure the various business ideas I already have in mind and provide me with the tools to realise my plans successfully. For instance, I am planning on writing a business plan as my Master’s thesis in order to have something concrete or in the right direction by the end of the programme. The discussions with my classmates and other EMBA students within the Kellogg EMBA Global Network also help me to evaluate and further develop a lot of my entrepreneurial ideas.

What do you expect the EMBA to give you? I hope that once I finish the EMBA I will have more confidence in my decisions

Amaka Ezike

Kellogg-WHU Executive MBA Student Class of 2017

Amaka Ezike, a current student of the Kellogg-WHU Executive MBA Class of 2017, is a fully qualified accountant (ACCA, ICAN) with over 13 years of experience cutting across treasury and investments, financial and management accounting as well as risk management. Amaka also holds a BA (Hons) in Computing and Accounting & Finance from the University of Kent. She is currently a finance and strategy consultant at Think Capital Ltd in Nigeria.

and will be able to better evaluate them. I know that making a good decision is a lot about your gut feeling, but you need to have some means of analysing as well. Another expectation concerns my work style. Right now I might be doing things the wrong way, since I am a financially technical person. I have never dealt with sales or marketing, for example. But these skills are also essential for running

My class is much more diverse than I expected. I thought people would come mainly from the EMEA region and that I would only meet people from other continents during the Global Electives. But my classmates come from all over the world and from various industries and academic backgrounds. That was a pleasant surprise as we are learning a lot from each other’s experiences on top of what the faculty teaches. Learning here is fun but very intense. The programme focuses a lot on personal and leadership development, which allows you to take a step back and thoroughly analyse a situation instead of automatically completing a task. It makes you see the bigger picture.

How do you fund your studies? The funding was definitely the biggest challenge. Even though I had help from family and friends back home, it was not enough to cover all costs. I applied for one of the Kellogg-WHU scholarships for women awarded by both the MBA for Women Foundation and the WHU Scholarship Fund. These types of scholarships are really helpful. I also chose to do an EMBA because it allowed me to keep my full-time job and continue earning money. □ ACCESS EMBA GUIDE 2016-2017

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EMBA SCHOOL PROFILE

Advance Your Global Business Career Whilst Continuing to Work Full-time U nited K ingdom Student Body

Alliance Manchester Business School has nearly 25 years’ experience in transnational education and our global reach now spans four continents. Our centres in Dubai, Hong Kong, Manchester, Sao Paulo, Shanghai and Singapore boast strong links with the local business communities, opening up a wealth of contacts and opportunities for our students and alumni. The Manchester MBA can help transform your career and change your life. Programme Presentation Global MB The two-year Manchester Global Parttime MBA is designed to fit around work and personal commitments. World class teaching is delivered in blocks at residential workshops, with online activity to enrich the learning experience. You can tailor your MBA to suit your personal goals and interests by selecting electives from the following themes; Entrepreneurship and innovation, Finance, HR Management, Leadership and

Management Practice, Marketing, Projects and Technology. There is international flexibility within the programme; you can attend workshops at any of our global centres. Kelley-Manchester MBA Our joint MBA with Kelley School of Business in the United States also allows candidates to study and work at the same time. The programme brings together two of the world’s leading business schools with a combined legacy of nearly 150 years of innovation in business and management education. This pioneering new programme will be taught using a blended format of online study and face-to-face classes, at both the Kelley School in Indiana, USA and at Alliance Manchester Business School campuses across the globe. You’ll experience British and US style business and management education, earning you two degrees from two top ranked schools in two years.

Male Female Ratio: 71/29% Age Range: 26–55 Average Range: 36 International Students: Europe: 19% North America: 4% Central/South America: 7% Middle East: 16% Oceania and Asia: 49% Africa: 5% Global Centres: Manchester Dubai Singapore Hong Kong Shanghai Sao Paulo

Admission Requirements At least four years, professional experience with strong career progression and a recognised degree, or eight to ten years, managerial experience instead of a recognised degree. Kelley-Manchester MBA requires a minimum of three years, professional experience.

Costs Application Fees: None Tuition Fees: Global MBA - 27,300 GBP Kelley-Manchester MBA – 65,000 USD

Contacts

Programme Info: Accreditations: Rankings: Programme Format: Content Strength or Specialisation: Languages Courses: Application Deadlines: Starting Dates:

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AACSB, AMBA, EQUIS We are positioned 7th in the UK, 14th in Europe and 38th in the World (Financial Times Global MBA ranking 2016) Part-time/ Distance Learning/ Executive Specialist learning themes available for the Global MBA in Entrepreneurship & Innovation, Technology, Marketing, HR, Leadership, Finance and Project Management English Global MBA: December 2016 Kelley-Manchester MBA: May 2017 Global MBA: January and July 2017 Kelley-Manchester MBA: July 2017

Name: Jane Dowson Email: [email protected] Telephone: +44 (0) 161 275 7212 Website: www.mbs.ac.uk/mba/ part-time

EMBA SCHOOL PROFILE

The Entrepreneurial School®: Mentoring the Motivated A ustria Student Body

With 3,000 students, 1,000 lecturers, 200 partner universities and innumerable graduates and employers worldwide, along with an unbroken record of top places in polls and rankings, the MCI Management Center Innsbruck is in demand as an international benchmark and partner for research, teaching and management training. Admission requirements of an international standard, consistently outstanding results in polls and rankings, MCI’s special position as the Entrepreneurial School® in the framework of the ‘Comprehensive University Innsbruck’ concept, and a network of prestigious partner universities are powerful and convincing arguments for the motivated in a key decision for their professional and personal development. At the Entrepreneurial School®, an MBA degree stands for an entrepreneurial orientation, an international mindset, new and modern ways of teaching and interaction, motivation, decisiveness, a sense of responsibility, immediate applicability of newly acquired knowledge, intercultural competence, robust networks and a credible brand with a high level of acceptance in the business world and society.

Programme Presentation With the MBA programme in International Business, the Entrepreneurial School® offers an attractive programme that puts students around the globe on the cutting edge of modern academic education. Embedded in a truly modern blended learning environment, the MBA programme is designed to effectively support the personal development and career of motivated business professionals. The twoyear part-time MBA programme comprises three five-day residence phases. The rest of the programme will be conducted in MCI’s highly interactive and sophisticated online environment that allows students to meet, discuss and learn with and from their peers and professors wherever they are and whenever they want to. The combination of interactive online learning phases with equally interactive face-to-face periods provides the perfect environment for a programme of the highest standards. Students also combine MCI’s International Business courses with graduate courses from Royal Roads University, Canada. A dual degree option in collaboration with Royal Road University is available.

Programme Info: Type of Programme:

Executive MBA

Programme Format:

Two-year part-time MBA in a blended learning format

Content Strength or Specialisation:

International Business, Entrepreneurship, Finance & Accounting, Marketing, HR Management, Organisational Behaviour, Operations Management

Language Courses:

Wide range of optional language courses available

Application Deadlines:

23 May 2016 22 August 2016

Starting Dates:

17 October 2016

Exchange Programme:

Dual degree option with Royal Roads University, Canada

Male Female Ratio: 70/30% Age Range: 25-50 Average Age: 33 Degree Background: Medicine/Pharma, Engineering, Management, Economics, Science, Art International Students: 85% (8 nationalities)

Admission Requirements University degree: Undergraduate degree from a recognised university GMAT (minimum): score of 610 for applicants with extensive work experience but no first degree TOEFL: (min. 92) or IELTS (min. 6.5) References: Motivational letter Minimum Length of Work Experience: Three years

Costs Tuition fees: 18,900 EUR Scholarships: Various (merit-based scholarships) www.mci.edu/en/study-program/ executive-master/mba-in-internationalbusiness/scholarships-grants

Contacts Name: Vanessa Walzl Email: [email protected] Telephone: +43 512 2070 – 2101 Website: www.mci.edu

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EMBA SCHOOL PROFILE

Knowledge Makes The Difference FRANCE Student Body

Programme Presentation SKEMA is one of the truly global business schools. We train and educate the talented individuals businesses require in the current competitive environment. SKEMA has AACSB and EQUIS accreditations and has been consistently ranked as one of the world’s very best business schools in the Financial Times rankings. Our graduates expand the boundaries of knowledge and innovation. They are at ease working in environments that are multicultural and socially diverse. As graduates of the school, they will go on to work towards a collective goal with a common vision: to create the right conditions for a sustainable knowledge economy. Our international structure, with campuses in Asia, Europe, Latin America and the US, enables us to remain in tune with the global business environment and the world of international higher education. With 7,200 students and 160 professors, SKEMA Business School ranks as a leading global business school.

The SKEMA Executive MBA is a high level continuing education programme for experienced executives wishing to increase their managerial and strategic skills. The Executive MBA programme offers general modules and a unique specialisation in project & programme management. This intensive programme allows managers to understand new organisational models suited to constantly changing complex environments. It also aims to foster participants’ overall strategic vision. The Skema Executive MBA is particularly well suited to managers who have pressing professional commitments. It adopts a blended learning format. The pedagogy thus combines e-learning modules with interactive seminars led by renowned professors in their fields. The programme is designed to optimise face-to-face sessions by distance mode preparation through highly structured modules that participants can adapt to their personal and professional schedule. Seminars take place in Lille (France) and in four other locations: Oslo (Norway), Dallas (Texas, USA), Belo Horizonte (Brazil) and Shanghai (China) during study trips.

Male Female Ratio: 72/28% Age Range: 36-45 Average Age: 42 Degree Background: International Bachelor’s, Master’s Degree or equivalent International Students: Europe: 59% North America: 2% Middle East: 34% Oceania and Asia: 5%

Admission Requirements University degree: International Bachelor’s, Master’s Degree or equivalent IELTS: 7(ENG) TOEIC: 875 (ENG) CECR: C1 (FR) References: Recommendation forms Minimum Length of Work Experience: Five years

Costs Application fees: 120 EUR Tuition fees: 32,000 EUR Scholarships: up to 30%

Contacts Name: Olivier Lefaivre Email: [email protected] Telephone: 01 41 16 76 94 Website: www.skema.edu

Programme Info: Accreditations: Rankings: Type of Programme: Programme Format: Content Strength or Specialisation: Language Courses: Application Deadlines: Starting Dates:

EQUIS, AACSB, ISO Financial Times 84th Executive Education (customised programme) Blended learning (Online, face-to-face and webinar modules) Executive MBA

Percentage of salary increase:

67% obtain a raise in pay after an EMBA

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Project & Programme Management English July and December August and January

EMBA SCHOOL PROFILE

Leading Innovation in a Digital World FRANCE Student Body Programme Presentation The EMBA “Leading Innovation in a Digital World” will develop your managerial and strategic skills and your leadership, while giving you the ability to seize the opportunities of the digital economy. Taught part-time in Paris, the programme will also take you to the heart of the major technological clusters in the USA, Europe and Asia.

From its creation in 1979, Telecom Ecole de Management has integrated new technologies and information systems in all its programmes. Our school has built its reputation on this unique learning experience and expertise which its corporate partners readily recognise. Accredited by AACSB and AMBA, TEM is the Business School of Institut Mines-Telecom, the leading group of engineering schools in France, under the supervision of the French Ministry of Economics, Industry and Finance.

During the programme, you will have the unique opportunity to develop your own digital project, join one of our business incubators in France and benefit from the full support of our faculty. Because we emphasise innovation, you will meet with start-ups and entrepreneurs in France and abroad, work with them on their own strategy and share their experience. Becoming a participant of our programme will give you the unique opportunity to join the alumni network of Institut MinesTelecom, one of the largest of the French Grandes Ecoles (60,000+).

Ratio of Applicants to Places: 50% Male Female Ratio: 75/25% Age Range: 30-50 Average Age: 42 Degree Background: : Business Administration, IT, Electronics, Computer Networks, MIS, Chemistry Management, Engineering International Students: 37% Length of Work Experience: Average 15 years Minimum 5 years

Admission Requirements University degree: Bachelor’s or equivalent TOEFL, TOEIC, IELTS, CAE or BULATS References: Two recommendation forms, Interview + Case study for preselected candidates Minimum Length of Work Experience: Five years

Costs Tuition fees: 40,000 EUR Scholarships: several merit-based and needs-based scholarships available (upon application) Negotiated interest rates with partner banks

Contacts

Programme Info: Accreditations: Type of Programme: Programme Format: Content Strength or Specialisation: Language Courses: Application Deadlines: Starting Dates: Exchange Programme:

AMBA / AACSB Executive MBA (Part-Time) 18 months, comprising 1 kick-off seminar, 12 academic weeks in Paris (from Monday morning to Saturday evening, every 5 weeks) and 3 international study tours Digital Innovation, Innovation Management, Digital Strategy, Digital Transformation, Leadership, New Business Models Entirely taught in English Rolling 18 April 2016 24 October 2016 October 2016 USA (Silicon Valley) March 2017 Finland October 2017 India

Email: [email protected] Telephone: +33 1 60 76 43 56 +33 6 74 40 93 81 Website: www.telecom-em.eu/en/emba

ACCESS EMBA GUIDE 2016-2017

175

EMBA SCHOOL PROFILE

The World’s Most Exciting Executive MBA Programme S wit z erland Student Body Male Female Ratio: 70/30% Average Age: 38

Admission Requirements The University of St. Gallen is a leading European business school located in Switzerland. Founded in 1898, it became a fully-fledged business school in 1911 and today has the largest management faculty in the German-speaking area and more than 8,000 students. St. Gallen offers a full range of undergraduate, postgraduate, executive and PhD programmes and is accredited by both EQUIS and AACSB. Programme Presentation Executive MBA HSG: The Executive MBA HSG is designed as a part-time general management programme, consisting of 90 days structured in 5-day modules (Monday to Friday). This includes a study trip, 5 elective courses, a personal development programme and a Master’s thesis. The Executive MBA HSG is taught entirely in German and all modules, except

for the study trip, take place at the Executive Campus in St. Gallen, Switzerland. International Executive MBA HSG: The International Executive MBA HSG is an 18-month part-time programme combining general management skills with an additional focus on international business, personal development and sustainability. Courses are taught in English and take place in Switzerland, the UK, Turkey and South Africa. Global Executive MBA HSG: The Global Executive MBA HSG is an 18-month part-time programme, taught in English in St. Gallen (CH), Rio de Janeiro (BR), Cape Town (SA), Shanghai (CN), Los Angeles (US) and Istanbul (TR). It is one of the first truly global programmes, providing the participants with the skills to lead in an increasingly globalised environment and establishing a worldwide network.

University Degree: recognised Bachelor’s degree GMAT/TOEFL: not necessary, but fluency in English required for IEMBA HSG and GEMBA HSG References: References: At least two (one professional, one personal) Minimum Length of Work Experience: Five years with three years of leadership experience

Costs EMBA: 67,000 CHF IEMBA: 76,000 CHF GEMBA: 89,000 CHF Scholarships: available in the following categories: Sustainability Women in Leadership Excellence in Leadership Entrepreneurs Non-profit Management Early booking incentives: Up to 9,000 CHF depending on the programme

Contacts

Programme Info: Accreditations: Rankings: Type of Programme: Programme Format:

EQUIS, AACSB 4th in the European Business School Ranking 2015 (Financial Times) 8th in the most international universities in the world 2016 (Times Higher Education) Executive MBA (part-time) EMBA HSG: 90 days on campus IEMBA/GEMBA HSG: 70 on campus + 20 days off campus

Application Deadlines:

One month prior to the start of the programme

Starting Dates:

EMBA: 19.09.2016 and 06.03.2017 IEMBA: 08.08.2016 GEMBA: 08.08.2016

176

Name: Edna Bacopulos Email: [email protected] Telephone: +41 71 224 27 02 Website: emba.unisg.ch

EMBA 2016-2017 LISTING

Table of Some of the Top EMBA Programmes in the World

178 608,000 RMB 116,800 USD

China

Ceibs

390,000 NOK

Boston University School of Management

169,740 USD

49,500 EUR

155,718 USD 134,460 USD

Germany

France, Germany, Singapore

US

US, Spain

ESMT - European School of Management and Technology

Essec / Mannheim

Fordham University Graduate School of Business

Georgetown University / Esade Business School

UK

Spain

Spain, US

Switzerland

Hult International Business School

IE Business School

Iese Business School

IMD

37,750 GBP

UK

Germany

Henley Business School

France

Switzerland

Grenoble Graduate School of Business

HEC Lausanne

HHL Leipzig Graduate School of Management

34,500 CHF

US

Georgia State University: Robinson

105,000 CHF

99,000 EUR

55,200 EUR

25,500 GBP

45,000 EUR

31,300 EUR

69,500 USD

79,000 USD

US

US

Georgetown University: McDonough

Georgia Institute of Technology: Scheller College of Business

95,000 USD

56,000 EUR 57,500 EUR

France, UK, Germany, Spain, Italy

ESCP Europe

101,700 USD 35,000 USD

US

45,000 EUR

Lebanon

France

EMLyon Business School

166,000 USD

Emory University: Goizueta

US

Duke University: Fuqua

520,000 HKD

36,000 GBP

133,516 USD

189,600 USD

172,815 USD

ESA Business School

UK

China

Cranfield School of Management

CUHK Business School

US

US / Canada

Denmark

Copenhagen Business School

Cornell University: Johnson

US

Columbia Business School

Cornell University: Johnson/Queen's School of Business

390,000 DKK

UK / US

Columbia / London Business School

44,000 GBP

Peru / Colombia

UK / UAE

Centrum Católica

City University: Cass

97,500 USD

China

US

BI Norwegian Business School/ Fudan University School of Management

78,500 USD

33,500 EUR

Belgium, Russia

China

Antwerp Management School

43,800 EUR

Costs

Finland, Singapore, South Korea, Poland, Taiwan

Country

Arizona State University: Carey

Aalto University

School name

4

IMD EMBA

GEMBA

Global EMBA

Executive MBA

Part-Time MBA

Henley EMBA

EMBA

Part-Time MBA

EMBA

EMBA

EMBA

Global EMBA

Fordham EMBA

Essec & Mannheim EMBA

ESMT EMBA

ESCP Europe EMBA

Executive MBA

Weekend EMBA

EMBA

Duke MBA - Global Executive

EMBA

Cranfield EMBA

EMBA Americas

Cornell EMBA

CBS EMBA

18

15

8

81

49

83

87

89

89

37

28

79

45

30

13

63

96

17

31

86

53

55

62

28

EMBA-Global Americas and Europe EMBA

32

52

16

48

35

59

76

25

1

50

52

36

54

27

22

26

8

32

31

20

60

15

49

39

Financial The Times Economist

EMBA

Global MBA

Ceibs Global EMBA

Boston University EMBA

BI-Fudan MBA

Carey / SNAI EMBA

EMBA

Aalto EMBA

Programme Name

Rankings

261,397

214,049

225,033

116,043

142,037

113,604

106,568

156,963

144,762

190,675

200,170

162,877

131,037

168,636

184,730

164,676

105,123

251,645

263,132

128,048

164,027

208,058

121,752

209,988

231,836

156,631

211,812

313,442

172,984

200,144

149,590

134,477

FT

40

63

56

62

60

18

61

33

40

54

50

51

45

56

72

40

23

32

52

44

53

41

35

55

72

68

36

37

83

74

42

48

FT

31

55

56

29

24

75

95

92

59

36

53

72

25

1

3

33

17

56

91

73

40

94

13

27

30

26

50

9

38

84

77

85

FT

Career Salary today Salary percentprogress (US$) age increase rank

74

77

83

76

78

78

66

66

73

76

77

70

77

83

83

74

74

75

68

72

75

72

74

75

83

76

71

77

72

75

78

73

FT

Aims achieved rank

23

20

26

35

37

19

37

37

20

42

37

33

35

33

25

37

24

21

38

17

19

26

23

23

23

30

29

36

53

25

34

29

FT

27

21

24

40

20

14

24

26

31

21

BW

30

50

50

35

40

23

SD

Women students (%)

2

3

5

57

39

21

65

55

79

59

28

51

23

22

31

58

66

29

33

64

37

54

48

41

18

15

40

52

95

97

73

78

FT

77

17

12

30

11

33

21

21

7

10

BW

75

90

SD

International students (%)

3

13

8

100

50

16

98

51

64

60

10

97

22

19

29

74

31

12

24

48

61

47

38

89

42

68

25

18

81

40

52

53

FT

14

6

4

6

15

7

4

10

SD

Average work experience rank

AACSB, AMBA, EQUIS

AACSB, AMBA, EQUIS

AACSB, AMBA, EQUIS

AMBA

AACSB, ACQUIN

AACSB, AMBA, EQUIS

AMBA, EQUIS

AACSB, AMBA, EQUIS

AACSB

AACSB

AACSB

AACSB

AACSB

AACSB, EQUIS

AACSB, AMBA

AACSB, AMBA, EQUIS

AMBA

AACSB

AACSB, AMBA, EQUIS

AACSB, SACS

AACSB

AACSB, AMBA, EQUIS

AACSB, AMBA, EQUIS

AACSB

AACSB, AMBA, EQUIS

AACSB, AMBA, EQUIS

AACSB, AMBA, EQUIS

AACSB, AMBA, EQUIS

AACSB, AMBA, EQUIS

AACSB, EQUIS

AACSB

AACSB, AMBA, EQUIS

AACSB

AACSB

AACSB, AMBA, EQUIS

Accreditation(s)

EMBA LISTINGS

ACCESS EMBA GUIDE 2016-2017

179

95,000 SGD 540,000 NT

US

Singapore

Nanyang Business School

115,000 USD 112,270 USD

US

US

US

China, Netherlands, US, Brazil, Mexico

New York University: Stern

Northwestern University: Kellogg

Ohio State University: Fisher

OneMBA

60,000 EUR

42,500 EUR 128,000 RMB

US

Sweden

France

US

US

US

Netherlands

China

France

SMU: Cox

Stockholm School of Economics

Télécom École de Management

Temple University: Fox

Texas A & M University: Mays

Thunderbird School of Global Management

Tias Business School

Tongji University/ENPC

Toulouse Business School

25,000 EUR

125,000 USD

86,000 USD

94,992 USD

40,000 EUR

465,000 SEK

115,575 USD

32,000 EUR

Europe

Skema Business School

1,500 RMB

China

Italy

69,000 TRY

Shanghai Jiao Tong University: Antai

SDA Bocconi

23,010 USD

US

Turkey

Rutgers Business School

Sabanci University School of Management

49,000 EUR

Netherlands

Rotterdam School of Management, Erasmus University

98,000 CDN 115,000 USD

Canada

US

Queen's University: Smith

Rice University: Jones

187,290 USD

177,800 USD

95,000 SGD

Taiwan

Singapore

National Sun Yat-sen University

National University of Singapore Business School

69,000 USD

72,795 GBP

14,400 USD

100,000 KRW

71,000 TL

79,000 EUR

UK, UAE

Turkey

Koç University Graduate School of Business

Michigan State University: Broad

Germany

Kellogg / WHU Beisheim

1269,000 HKD

120,000 CDN

London Business School

China

Kellogg / HKUST Business School

South Korea

Canada

Kellogg / York University: Schulich

TBS EMBA

Shanghai International MBA

EMBA

EMBA

Texas A&M EMBA

Fox EMBA

Executive MBA

SSE MBA

SMU Cox EMBA

Executive MBA

Antai EMBA

EMBA

Sabanci EMBA

Rutgers EMBA

EMBA

Rice MBA for Executives

Queen's EMBA

OneMBA: Xiamen / RSM / UNC / FGV São Paulo / Egade

Fisher EMBA

Kellogg EMBA

NYU Stern EMBA

NUS Asia-Pacific EMBA

EMBA

Nanyang EMBA

EMBA

EMBA

EMBA

EMBA

EMBA

Kellogg-WHU EMBA

Kellogg-HKUST EMBA

Kellogg-Schulich EMBA

Kedge-SJTU Global MBA

Insead Global EMBA

35,000 EUR

Poland

France, China

Kedge Business School

10,400 EUR /125,000 USD

Korea University Business School

France, Singapore, UAE

Insead

EMBA

Programme Name

55,000 GBP

Costs

Kozminski University

UK

Country

Imperial College Business School

School name

7

97

57

73

64

78

71

10

64

92

80

60

40

67

34

22

33

25

64

10

72

19

61

27

59

20

2

25

23

62

7

45

13

28

30

3

17

29

46

6

11

5

FT

128,963

149,743

111,017

183,076

127,340

172,140

292,525

141,858

132,781

160,492

121,885

223,307

130,543

185,718

239,190

208,765

233,946

161,504

242,328

144,484

181,083

144,509

246,492

157,096

182,078

408,431

167,343

196,998

212,019

130,104

Financial The Times Economist 38

Salary today (US$)

Rankings

46

86

45

36

45

36

92

51

34

43

45

49

45

64

53

39

51

61

65

48

41

70

92

58

55

39

51

114

56

64

FT

98

80

44

35

67

11

63

79

76

32

60

64

70

62

48

52

51

71

12

41

23

49

69

46

5

14

45

22

39

18

FT

Career Salary percentprogress age increase rank

64

71

74

75

75

76

75

70

69

73

71

81

72

77

78

69

75

77

75

70

77

73

79

72

82

78

80

73

78

78

FT

Aims achieved rank

22

42

32

16

34

23

25

23

19

32

28

15

36

23

23

35

27

30

17

30

20

39

6

23

12

28

33

35

25

24

FT

31

25

BW

24

25

35

30

35

23

SD

Women students (%)

81

82

50

69

35

62

94

93

83

72

30

25

53

42

92

36

12

90

24

68

1

67

97

77

16

11

6

60

4

20

FT

31

9

BW

37

75

93

SD

International students (%)

27

76

83

23

36

55

71

62

92

85

66

43

78

28

33

67

17

93

41

91

30

80

58

72

32

2

39

99

9

90

FT

15

5

10

5

8

5

14

13

SD

Average work experience rank

AACSB, AMBA, EQUIS

AMBA

AACSB, AMBA

AACSB

AACSB

AACSB

AACSB, AMBA

EQUIS

AACSB

AACSB, EQUIS

AACSB, AMBA, EQUIS

AACSB, AMBA, EQUIS

AACSB

AACSB

AACSB, AMBA, EQUIS

AACSB

AACSB, EQUIS

AACSB

AACSB

AACSB

AACSB

AACSB

AACSB, AMBA

AACSB, EQUIS

AACSB

AACSB, AMBA, EQUIS

AACSB, AMBA, EQUIS

AACSB, EQUIS

AMBA, EQUIS

AACSB, EQUIS

AACSB, EQUIS, FIBAA Premium

AACSB, EQUIS, AMBA

AACSB, AMBA, EQUIS

AACSB, AMBA, EQUIS

AACSB, AMBA, EQUIS

Accreditation(s)

180

US

South Korea

Yale School of Management

Yonsei University School of Business

51,750,000 KRW

167,000 USD

45,200 EUR

102,000 CND

600,000 RMB

123,500 USD

49,950 USD

65,000 CHF

100,500 USD

79,000 USD

3. SD - School Data 4. Salary today: Avg salary 3 years after graduation

Austria

WU (Vienna University of Economics and Business)/University of Minnesota: Carlson

1. FT - Financial Times 2. BW - Business Week

Canada, China

Western University: Ivey

Footnotes:

China

Washington University: Olin/Fudan University School of Management

40,500 GBP

UK

US

Belgium

Vanderbilt University: Owen

Vlerick Business School

US

Switzerland

University of Zurich

Warwick Business School

US

Washington University, St. Louis: Olin Business School

38,995 EUR

US

University of Washington: Foster

111,000 CAD

113,408 USD

University of Utah: Eccles School of Business

EMBA HSG

EMBA

45

44

53

6

21

73

70

56

69

83

47

75

50

41

93

87

51

14

9

43

39

58

12

24

91

82

5

42

76

1

3

10

38

42

18

37

53

2

16

40

24

9

55

4

19

237,864

168,022

174,456

299,932

154,471

121,022

135,938

127,961

166,122

142,754

136,270

150,792

152,953

159,327

126,336

190,343

192,391

208,412

229,205

203,326

177,861

128,390

231,232

196,939

134,896

115,898

250,956

187,862

157,588

324,115

283,830

FT

Financial The Times Economist 59

Salary today (US$)

Rankings

62

35

41

49

92

55

62

34

32

41

31

40

63

47

38

51

42

54

73

42

41

88

51

55

36

48

53

37

42

80

49

FT

81

54

74

58

10

16

100

8

87

96

57

86

43

4

89

65

61

20

15

78

6

66

28

7

82

97

19

68

83

2

42

FT

72

78

74

74

76

74

79

79

70

76

73

75

72

82

75

70

71

75

83

74

83

71

75

79

75

76

82

77

70

81

82

FT

Aims achieved rank

15

15

25

37

24

20

31

26

31

33

29

19

24

27

34

36

25

28

24

19

23

53

24

18

27

19

24

27

44

18

27

FT

29

BW

30

31

43

SD

Women students (%)

97

17

46

47

27

43

80

49

85

91

38

87

13

63

70

89

44

45

14

74

86

97

9

10

61

70

8

56

76

19

7

FT

8

BW

95

SD

International students (%)

96

7

37

11

65

73

95

21

75

59

34

84

63

20

49

88

44

86

15

57

46

94

35

14

69

56

5

40

87

4

1

FT

12

12

6

7

SD

Average work experience rank

AACSB, EQUIS, KABEA

AACSB

AACSB, AMBA, EQUIS

EQUIS

AACSB

AACSB

AACSB, AMBA, EQUIS

AACSB, AMBA, EQUIS

AACSB

AACSB, EQUIS

AACSB, EQUIS

AACSB

AACSB

AACSB

AACSB, AMBA, EQUIS

AACSB, EQUIS

AACSB

AMBA

AACSB

AACSB

AMBA, EQUIS

AACSB

AACSB

AACSB

AACSB, EQUIS

AACSB

AMBA, EQUIS

AACSB

AACSB, AMBA, EQUIS

AACSB, EQUIS

AACSB, EQUIS

AACSB

AACSB, AMBA, EQUIS

AACSB, AMBA, EQUIS

AACSB,AMBA

Accreditation(s)

7. Aims Achieved: The level at which the alumni fulfilled their purpose of doing an MBA

Career Salary percentprogress age increase rank

5. Salary Inc: Displays salary increase before and after MBA 6. Career Progress: changes in career before and after the MBA

Yale MBA for Executives

Global EMBA

Ivey EMBA

Washington - Fudan EMBA

Olin’s Executive MBA

Warwick EMBA

EMBA

Vanderbilt EMBA

Zurich EMBA

EMBA

EMBA

Rotman EMBA

Texas EMBA

Strathclyde EMBA

EMBA

Modular & Part-Time MBA

EMBA Worldwide

Wharton MBA for Executives

Oxford EMBA

EMBA

Miami EMBA

Smith EMBA

HKU-Fudan IMBA

EMBA

Cambridge EMBA

Alberta / Haskayne EMBA

Smurfit EMBA

UCLA-NUS EMBA

EMBA

EMBA

Tsinghua-Insead EMBA

Trium Global EMBA

Part-Time MBA Programme

Programme Name

98,200 USD

Canada

US, Switzerland

University of Rochester: Simon

198,500 ZAR

US

South Africa

University of Pretoria, Gibs

80,000 USD

University of Toronto: Rotman

US, Brazil, Czech Republic

University of Pittsburgh: Katz

192,900 USD

University of Texas at Austin: McCombs

US

University of Pennsylvania: Wharton

72,094 GBP

144,200 USD

67,000 CHF

UK

University of Oxford: Saïd

28,000 GBP

US

University of Michigan: Ross

111,800 USD

119,500 USD

Switzerland

US

University of Miami School of Business Administration

UK, Switzerland, Greece, UAE, Bahrain, Oman

US

University of Maryland: Smith School of Business

298,000 RMB

179,000 USD

63,960 GBP

67,000 CDN

15,350 EUR

112,940 USD

University of St. Gallen

China

University of Hong Kong / Fudan University School of Management

85,000 USD 70,700 USD

University of Strathclyde Business School

UK

Canada

University of Alberta/University of Calgary: Haskayne

US, UK, China

Ireland

University College Dublin: Smurfit

University of Cambridge: Judge

US, Singapore

UCLA: Anderson / National University of Singapore

University of Chicago: Booth

US

US

UCLA: Anderson

125,000 USD

China, Singapore, UAE, France

Tsinghua University / Insead

Tulane University: Freeman

169,500 USD

France, UK, US

Trium: HEC Paris / LSE / New York University: Stern

15,000 EUR

Costs

Ireland

Country

Trinity College Dublin

School name

EMBA LISTINGS

Guide

2016-2017