In terms of MBA recruitment, top European business schools are comfortably and consistently among the world’s best. Institutions like London Business School, ESADE, and INSEAD can boast employment figures of over 90% within three months of graduation, rising even higher if we look at six month statistics.
Salary data is equally impressive. Candidates who have studied at European schools which fall into the top ‘elite global’ category in the QS Global 200 Business Schools report enjoy remuneration which, on average, crosses the six figure threshold – before bonuses are taken into account. The only US schools which can compete with salaries enjoyed by graduates of INSEAD and London Business School are the powerhouses of Harvard and Stanford, and IMD’s figure of US$130,000 bests even this illustrious pair.
Certainly, the selective nature of this elite combined with the higher levels of work experience often required of European business schools (often averaging around five or six years) helps to create eminently employable cohorts. Nonetheless, these schools are doing something right when it comes to MBA recruitment.
International exposure
It is almost a truism that the cohorts at European business schools are extremely diverse – a diversity which is often very deliberately maintained by the institutions themselves. At IE Business School in Spain or IMD in Switzerland, no fewer than 97% of students are international. When looking for an international MBA career, this kind of international exposure can be invaluable – the 2012/13 QS TopMBA.com Jobs & Salary Trends Report shows that 67% of MBA employers highly value international experience.
“Our student body is so international that, everyday, students learn from their peers how people from different nationalities operate; it is an on-the-job learning experience,” reflects Ana Herranz Martin, of IE’s careers department. This, she believes, encourages lateral thinking and innovation in MBA candidates – qualities which are obviously valued by MBA employers. In fact, only interpersonal and communications skills were more highly rated in aforementioned report.
Isabella Pinucci, careers service coordinator at SDA Bocconi, also highlights the advantages of gaining international exposure through regular group work projects within a diverse cohort. “It’s very good practice to learn and work with people who are very different from you. Increasingly, in global companies today, you have to function in different contexts.” The academic content of the course at Bocconi, she adds, is also geared towards helping students get an understanding of varied international contexts.
At London Business School, the introduction of treks stands as an example of ongoing program innovation, explains David Morris, head of corporate sectors. “Last year we had an MBA review; one of the things which got introduced is global business experiences. We have trips to Johannesburg, Istanbul, to the US and Asia and India, so students can learn about different aspects of leadership and business.” These trips involve working with local businesses ranging from entrepreneurial ventures to outposts of larger companies, such as McKinsey.
It’s not uncommon for careers support to begin before the program has even started. This is the case at ESADE, explains Mary Granger, regional director for Asia: “Even before students step on campus, they are in touch with a career advisor to polish their CVs; once they get on campus they hit the ground running, so it’s important to be prepared!”
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