MBA 2007 Employment Statistics

2007 Employment Statistics A World of Talent

MBA Graduates 2007

Contents

3 4 6 8 29 34 38 40

Highlights of 2007: The Business School for the World A World of Talent Profile of the 2007 MBA graduates Full-time jobs & compensation trends — Overview — ob locations J — verall annual base salaries O and sign-on bonuses — Career changes — Consulting — Finance — Industry Employers of 2007 INSEAD MBA Graduates — 2007 Recruiting partners Summer internships and compensation trends — Overview — Summer job: monthly base salaries — ompanies which hired C summer interns in 2007 List of countries per region Important INSEAD recruiting guidelines

INSEAD MBA GRADUATES 2007 

885

participants of 76 nationalities

now working in

55 350+

countries companies

+92% _/3

with job offers within three months of graduation

~

split between each major recruiting sector: consulting, finance and industry

Sandra Schwarzer Tel: +33 (0)1 60 72 91 13 [email protected]
2 INSEAD MBA GRADUATES 2007

Highlights of 2007: The Business School for the World
In February 2008 I had the great pleasure of being appointed Director of INSEAD Career Services and I am pleased to present the MBA Employment Statistics for the classes graduating in July and December 2007. 2007 marked yet another year of success for INSEAD MBA students. The 885 graduates from our two graduating classes representing 76 nationalities set out to take their outstanding talent to countries, sectors and organisations that represent the diversity on which INSEAD is founded. In a growing MBA job market, our students found employment in a particularly wide range of sectors around the world. Three months after graduation, 92% of participants reported having received a job offer. The 2007 classes chose positions in 350 different companies and in 55 countries. The median base salary increased to US$115,000 (€78,200), and over 70% of the class received a sign-on bonus (the median sign-on was US$23,500/€16,000). In 2007 almost 400 recruiters from a wide range of industries and countries turned to INSEAD to source talent for their offices worldwide. In addition to 184 on-campus presentations, the bi-annual Career Fair hosted in Singapore and in France attracted close to 100 companies. Furthermore, Career Services made over 3000 jobs accessible to participants through our in-house job board CareerLink. In addition, the Career Services team helped companies organise more than 5,000 face-to-face and 800 video-conference interviews. In order to give participants maximum exposure to different sectors and regions, we continued to help organise career treks and club events. In 2007, participants joined Investment Banking Treks to London and Hong Kong, an Asset Management Trek to Singapore, a Private Equity Trek to London and a Media Trek to London as well as regional treks to Australia and the USA. A variety of sector-specific participant clubs, including Social Impact (INDEVOR), Consulting, Private Equity, High Tech & Media, Real Estate, Women in Business and Entrepreneurship are currently active at INSEAD. Working with the clubs on their various events enables recruiters to target, and to network efficiently with, groups of motivated participants. We highly value the partnerships with our recruiters and the daily interactions with our participants. We would particularly like to thank our alumni community for continuously offering their support to Career Services. We look forward to another exciting year for our recruiters and students and will be happy to help you with any questions you may have. Warm regards.

Sandra Schwarzer Director, Career Services, Europe & Asia Campuses Tel: +33 (0)1 60 72 91 13 [email protected]

INSEAD MBA GRADUATES 2007 3

A World of Talent
One school, two campuses and two intakes The INSEAD MBA programme runs in parallel on two campuses: one in Europe (Fontainebleau, France) and the other in Asia (Singapore). Two classes of approximately 450 students each graduate every year in July and December respectively. This gives you the opportunity to recruit twice during the year. The most international business school If you are looking for executives who are comfortable working across national and linguistic borders, both sensitive to other cultures and proficient in local business practices, then it is only natural to partner with INSEAD. Our uniquely diverse environment attracts young professionals with a solid international experience. Throughout the programme, they learn from their classmates’ experiences, as well as from our global curriculum and faculty, before moving on to pursue careers throughout the world. Our campuses in Europe and Asia provide students with a global perspective; over 67% of participants transfer between campuses during the year. – he top five nationalities make up less T than 42% of total participants; the top five job destinations make up less than 44% of total destinations. – ll participants are proficient in three or A more languages on graduation. A first-class business school We attract some of the most talented and ambitious young professionals in the world, drawn to the school by our world-class faculty and unparalleled global alumni network, they leave INSEAD to create value and growth in companies across the globe. – verage GMAT score (2007): 701. A – ajor international rankings: consistently M in the top ten business schools worldwide since 2000. – he alumni network includes CEOs, T CFOs, CTOs and Chairmen of global companies including LVMH, Unilever, L’Oréal, Power Corporation of Canada, F .Hoffman – La Roche, Danfoss, Statoil, Heineken, AON, Deutsche Bank, Goldman Sachs, Henkel and BASF . An intensive preparation for a successful career INSEAD graduates do not just offer you the latest business insights. They bring stamina, teamwork, entrepreneurialism, organisational skills and effectiveness in the face of pressure to the companies they join. At INSEAD, participants develop the capacity to master a large amount of material in a short period of time. In this high-pressure environment, they develop collaborative skills through group work in diverse teams. The one-year programme provides in-depth knowledge of the conceptual models and analytical tools in Accounting, Entrepreneurship, Economics, Finance, Marketing, Organisational Behaviour and Strategy.

4 INSEAD MBA GRADUATES 2007

67%



The top five nationalities

of the participants transfer between campuses during the year

<42%
of total participants

Average GMAT score (2007):



701

All participants are proficient in

3+

INSEAD MBA Programme: Consistently ranked in the top 0 business schools worldwide since 2000

languages

on graduation

INSEAD MBA GRADUATES 2007 5

7%

0%

7%

Profile of the 2007 MBA graduates
Total number of MBAs
Asia / Asia Pacific 27% (1)

Nationality

1 1 1 7 7 7 7 7 7 6 6 6 5 5 5 2

7%

885
Gender

5%

5%

9%

5% 5% 2%

8%

24% 76% Male

Female

Central / Eastern Europe 29% Asia Pacific 5% Asia / Asia Pacific 27% Asia / Asia Pacific 27% Latin America 6% Central / Eastern Europe 5% Central / Eastern Europe 5% Central / Eastern Europe 5% Middle East / Africa 9% Latin America 4% Latin America 5% Latin America 5% North America 11.5% Africa / Near / East / Africa 9% Middle Middle East 9% Middle East / Africa 9% Northern America 11% North Europe 2.5% North America 11.5% North America 11.5% Southern Europe 12% Northern Europe 2% Northern Europe 2.5% Northern Europe 2.5% Western Europe 12% Southern Europe 28% Southern Europe 12% Southern Europe 12% Western Europe 27% Western Europe 28% Western Europe 28% < 26 years 5% 26 - 28 years 33% Age < 26 years 5% 29< 31 years 44% - 26 years 5% 26 - 28 years 33% 26> 31 years 18% - 28 years 33% 29 - 31 years 44% 29 - 31 years 44% > 31 years 18% > 31 years 18% 1 - 2 years 7%

23 2 3 4 3 4 4

Average: 29 years

Work Experience 3 - 5 years 28%
1 - 2 years 7% 1> 5 years 65% - 2 years 7% 3 - 5 years 28% 3 - 5 years 28% > 5 years 65% > 5 years 65%

Average: 6 years

Education
Art 5% Business 21% Art 5% Economics 10% Art 5% Business 21% Engineering 40% Business 21% Economics 10% Law / Political Sciences 10% Economics 7% Engineering 40% Science 40% Engineering 10% Law / Political Sciences 7% Other 7% Law / Political Sciences 7% Science 10% Science 10% Other 7% (1) For the list of countries per region, please refer to pages 38 and 39. Other 7%
6 INSEAD MBA GRADUATES 2007

INSEAD MBA GRADUATES 2007 7

Full time jobs & compensation trends
Overview Out of the 885 participants in the two classes who completed the MBA Programme in 2007, 841 (95%) responded to the Career Services survey. Of these 841 graduates, 771 (92%) reported having received at least one job offer 3 months after graduation, 717 (85%) gave us details of their career decision and 591 (70%) reported full salary INSEAD Career Services / Alumni 54% information, on which the salaries section of the following report is based. Own contacts / Networking 21%
Pre-INSEAD employer 19% Creating own company 4% Internships 2%

How did they find their job?
Career Services / Alumni Own contacts Pre-INSEAD employer Summer job Creating own company Total 55% 19% 17% 4% 5% 00%

By sector
Total 717

Consulting 39%

Finance 28%

Industry 33%

8 INSEAD MBA GRADUATES 2007

Consulting 36% - 1

Sectors: comparison over 5 years
2007 Consulting Finance Industry 39% 28% 33% 2006 35% 29% 36% 2005 35% 30% 35% 2004 38% 20% 42% 2003 37% 20% 43%

By function By function
Total 717 Consulting 41% Corporate Planning / Business Development 10% Finance 21% General Management 8% Marketing / Sales 8% Production / Operations Management 2% Rotational programmes 2% Other* 8%

Total 727

* ncludes: Audit & Accounting (2), HR Management (3), Legal I (2), Research & Development (5), Staff Management (1), System Analysis (2) and a further 48 who did not provide a category.

Disclaimer: The information reported to the INSEAD Career Services by both the MBA Graduates and the recruiters and included in this report has not been independently verified. INSEAD Career Services provides no guarantee as to its accuracy. INSEAD MBA GRADUATES 2007 9

Job locations
Reflecting the diversity of our participants, recruiters turned to INSEAD to fill positions in locations throughout the world. In 2007, INSEAD graduates took jobs in 55 countries and in over 350 different companies. As in previous years, Europe continues to attract many graduates. About half of those working in Western Europe started their post-MBA career in the United Kingdom. Due to a favourable immigration policy, a strong finance industry, and the fact that all INSEAD graduates speak excellent English, London is the top city in 2007. For the third year in a row, one in five of INSEAD graduates accepted their first post-MBA job in Asia Pacific. Thanks to INSEAD’s well established presence in Singapore, 34% of these graduates joined international and local firms in this booming economy. Hong Kong is at its highest level ever with 14% accepting a job there, followed by China, Australia, Korea, Southeast Asia and Taiwan.

By region(1)
Total 77 6% Africa / Near / Middle East 20% Asia Pacific 3% Central / Eastern Europe 2% Latin America 6% North America 1% Northern Europe 10% Southern Europe 52% Western Europe

(1)

For the list of countries per region, please refer to pages 38 and 39.

0 INSEAD MBA GRADUATES 2007

Belgium 2%

Belgium 7% Germany 2% Ireland 1% France 20% Ireland 1% Switzerland 9% Belgium 2% Germany 7% Belgium 9% Switzerland 2% The Netherlands 8% France 20% Ireland France 1% The Netherlands 51% 8% United Kingdom 20% Germany 7% 7% Switzerland 9% United Germany 51% Kingdom 2% Other* 1% Ireland Ireland 1% The Netherlands 8% Other* 2% Switzerland 9% United Kingdom 51% Switzerland 9% The Netherlands 8% Other* 8% The Netherlands 2% United Kingdom 51% Greece 51% United Kingdom 13% Other* 13% Greece 19% Italy 2% Other* 2% Italy 19% Portugal 20% Greece 13% Portugal 42% Spain 20% Southern Europe Italy 19% Spain 6% Turkey 42% Greece 13% Greece 13% Portugal 20% Turkey 6% Italy 19% Italy 19% Spain 42% Portugal 20% Portugal 20% Turkey 6% Spain 42% Czech Republic 27% Spain 42% Turkey 41% Czech Republic 27% Russia 6% Turkey 6% Russia 41% Other* 32% Czech Republic 27% Other* 32% Eastern Europe Russia 41% Czech Republic 27% Czech Republic 32% Other* 27% Russia 41% Russia 41% Denmark 27% Other* 32% Other* 32% Denmark 33% Finland 27% Finland 33% Norway 13% Denmark 27% Norway 27% Sweden 13% Finland 33% Sweden 27% Denmark 27% Denmark 13% Norway 27% North America Finland 33% Finland 33% Sweden 27% Canada 20% Norway 13% Norway 13% Canada 27% USA 20% Sweden 80% Sweden 27% USA 80% Canada 20% Canada 20% Australia 11% China 80% USA 8% USA 80% HongChina 14% Kong 11% Australia 8% Hong Kong 11% India 14% China 11% India Japan 11% Australia 6% 8% Australia 8% Hong Kong 14% Japan 8% 6% Korea 11% China China 11% India Korea 8% Singapore 34% Hong Kong 14% Hong Japan 14% Kong 6% Singapore 34% Other*11% India 8% India 8% Korea 11% Other* 8% Japan 6% Japan 6% Singapore 34% Korea 8% Korea Other* 8% Singapore 34% Singapore 34% Other* 8% Other* 8%

Western Europe France 7% Germany 20%

Belgium 20% France 2%

Total 373

* ncludes: countries where fewer than 5 jobs were reported: I
Austria (3), Lichtenstein (2) and Luxemburg (4)

Total 69

Total 22

* ncludes: Poland (2), Slovakia (1), Slovenia (1), I
Romania (2) and Bulgaria (1)

Total 45

Asia Pacific Australia 20% Canada 8%

USA 80%

Total 146

* ncludes countries where fewer than 5 jobs were reported: I
Indonesia (2), Malaysia (2), New Caledonia (1), New Zealand (1), Taiwan (3), Thailand (1), Vietnam (1)

INSEAD MBA GRADUATES 2007 

Overall annual base salaries and sign-on bonuses
One of INSEAD’s strengths is the diversity of geographies, sectors and functions chosen by its graduates. As there are different standards of living and taxation levels in the various regions, we have included some salary information at a regional and local level, which should be factored into any comparative analysis of the figures below. Overall salaries remain at the 2006 level in euros which is partly due to the strong euro exchange rate over the past year. In US dollars, median salaries increased by 8%. Around 70% of graduates now receive a sign-on bonus (compared to 62% in 2006), and the median sign-on bonus increased by 9%. The median salary in the USA increased by 9% and salaries even showed double-digit growth of 18% in Canada. In Europe, Belgian salaries showed the largest rise (11%), followed by Italy (8%) and Switzerland (6%). In Asia Pacific, the base salary range has widened again with salaries in the region now ranging from €13,000 to €204,000, with a 4% increase in the overall mean salary.

Overall annual mean salary Overall annual median salary Overall median sign-on bonus*
* 70 % of salaries overall reported with sign-on bonus Exchange rate: €1 = US$ 1.47069

€ 79,000 € 78,200 € 6,000

US$ 6,200 US$ 5,000 US$ 23,500

How salaries have evolved: comparison over 5 years in local currency (median salary)
France (€) Germany (€) Singapore (SG$) Switzerland (SFr) United Kingdom (£) USA (US $) 2007 81,000 90,000 149,500 135,000 65,000 120,000 2006 77,900 87,100 141,000 129,800 64,800 109,300 2005 76,300 82,000 158,700 139,000 60,000 110,000 2004 76,300 90,000 147,500 136,000 60,800 105,000 2003 75,000 82,500 120,000 141,400 59,900 100,200

By region()
Africa / Near / Middle East Asia Pacific Central / Eastern Europe Latin America North America Northern Europe Southern Europe Western Europe Total # 29 120 19 13 41 6 54 309 59 Range e 36,700 – 108,700 13,000 – 204,000 52,000 – 95,000 45,100 – 96,400 40,500 – 102,000 77,600 – 130,000 30,000 – 125,800 29,400 – 240,000 Mean e 69,900 69,300 74,900 74,400 79,800 100,600 67,400 85,700 Median e 74,800 70,900 80,000 74,800 81,600 97,900 70,000 82,000 Median Sign-on e** 15,000 14,300 13,000 13,600 13,600 18,000 20,000

(1)

For the list of countries per region, please refer to pages 38 and 39.

2 INSEAD MBA GRADUATES 2007

By country in local currency*
Australia (AUS$) Belgium (€) Brazil (Real) Canada (CDN$) China (Renminbi) Czech Republic (KC) France (€) Germany (€) Greece (€) Hong Kong (HK$) India (Rupee) Ireland (€) Italy (€) Japan (Yen) Korea (Won) Portugal (€) Russia (Rouble) Singapore (SG$) Spain (€) Switzerland (Sfr) The Netherlands (€) UAE (UAE Dirham) United Kingdom (£) United States (US$) Total # 10 5 7 9 14 6 63 18 7 16 8 5 11 9 9 11 7 45 23 27 22 16 161 33 532 Range 95,000 – 247,000 58,000 – 96,000 159,900 – 250,000 60,000 – 150,000 577,800 – 966,700 1,548,900 – 2,452,400 45,000 – 200,000 70,000 – 125,000 40,000 – 80,000 468,300 – 2,341,400 900,000 – 3,000,000 75,000 – 120,000 60,000 – 90,900 4,499,300 – 15,002,900 51,002,800 – 114,930,100 30,000 – 70,000 2,451,900 – 3,028,800 78,300 – 251,900 38,000 – 100,000 109,900 – 200,000 48,000 – 240,000 259,300 – 551,000 22,000 – 112,200 70,000 – 150,000 Mean 146,700 82,800 203,200 128,500 792,200 2,060,000 81,700 91,200 62,100 902,400 2,033,300 100,500 73,200 9,410,500 92,694,500 58,200 2,718,700 148,500 70,200 137,400 85,700 367,300 65,900 114,500 Median 126,800 90,000 210,000 135,000 790,000 2,065,200 81,000 90,000 65,000 825,500 2,100,000 102,500 70,000 8,998,600 51,026,500 70,000 2,574,500 149,500 75,000 135,000 80,000 385,700 65,000 120,000 Median Sign on** 27,500 35,200 20,000 116,200 19,500 17,500 210,700 500,000 15,000 20,012,000 25,000 490,400 29,900 18,000 25,000 13,500 91,800 15,000 20,000

* where at least 5 salaries were represented ** where at least 5 sign-on bonuses were reported

Salary figures in the 2007 Employment Statistics report are quoted in either national currency, in euros or US dollars. Note that the salary figures are gross annual base salaries exclusive of all extras such as fringe benefits or sign-on bonuses. The data should be interpreted in the context of structural differences, for example in national employment markets, levels of taxation and cost of living, as well as possible variations in exchange rates.

Exchange rates
Currency Australia (AUS $) Brazil (Real) Canada (CDN $) China (Renminbi) Czech Republic (KC) Hong Kong (HK $) India (Rupee) Japan (Yen) Korea (Won) Russia (Rouble) Singapore (SG $) Switzerland (SFr) UAE (Dirham) United Kingdom (£) USA (US $) 2007 per e* 1.64631 2.59222 1.48115 10.62255 25.81487 11.47836 58.12964 158.42602 1389.72305 36.05715 2.09381 1.61642 5.40218 0.74826 1,47069 2007 per $* 1.11947 1.76272 1.00713 7.22288 17.54823 7.80251 39.52543 107.74293 944.95305 24.51795 1.42372 1.09936 3.67322 0.50876 1

* Source: Oanda.com (average exchange rate 01/01 - 28/02/2008)

INSEAD MBA GRADUATES 2007 3

Career changes
Changes of business sector
Former consultants
Characterised by their adaptability and mobility, 87% of INSEAD’s 2007 graduates changed their country of work, sector or functional area upon leaving INSEAD. An impressive third of them rose to the challenge of entering a new country, new sector and new function all at once. The number of graduates who change country continues to grow – in 2007, 63% of participants moved to a different country after their MBA (up from 55% in 2005). While Western Europeans tend to stay in their region, a large number do not return to their home country. More North Americans stayed abroad after their INSEAD experience; while in Europe, British and Dutch nationals are more likely to return home while almost two thirds of the Italians chose to work abroad. In Asia, the economic boom has increased the number of graduates choosing to work in the region in order to participate in the expanding markets. In addition, 2007 saw a reverse in the trend of Singaporeans and Koreans with the majority opting to remain in their home country. In contrast, we see an increasing number of Chinese nationals preferring to work overseas to gain international exposure, despite the country’s economic boom. Economic growth in the Middle East also saw an increase in the numbers of all nationalities choosing to work in the region. In terms of sector changes, more than half of those with an industry background moved to either finance or consulting. Over 50% of those with no previous consulting experience moved to this sector upon graduation, where they are able to leverage on their previous knowledge.
4 INSEAD MBA GRADUATES 2007

Finance Industry Consulting

22% 5% 63%

Former finance professionals

Consulting Industry Finance

7% 8% 65%

Former industry professionals

Finance Consulting Industry

7% 35% 48%

Region or country change
Nationalities: who stays home and who goes abroad(1)
Regions # North America Eastern Europe 78 45 Home 26% 38% 26% 44% 38% 46% 44% 46% 46% 51% 46% 58% 51% 84% 58% 84% 17% Home 18% 17% 29% 18% 33% 29% 34% 33% 36% 34% 42% 36% 46% 42% 54% 46% 55% 54% 57% 55% 61% 57% 62% 61% 62% 62% 68% 62% 68% 68% 71% 68% 76% 71% 79% 76% 79%

Total 717 Abroad 74% 62% 74% 56% 62% 54% 56% 54% 54% 49% 54% 42% 49% 16% 42% 16% 83% Abroad 82% 83% 71% 82% 67% 71% 66% 67% 64% 66% 58% 64% 54% 58% 46% 54% 45% 46% 43% 45% 39% 43% 38% 39% 38% 38% 32% 38% 32% 32% 29% 32% 24% 29% 21% 24% 21%

North America 78 Latin America 32 Eastern Europe 52 Africa / Near / Middle East 45 Latin America 13 Northern Europe 32 Africa / Near / Middle East 193 Asia Pacific 52 Northern Europe 13 Southern Europe 93 Asia Pacific 211 Western Europe 193 Southern Europe 93 Western Europe 211

Within selected nationalities*

Indian 90 Regions # American 50 Indian 28 Canadian 90 American 50 Chinese 21 Canadian 28 Israeli 15 Chinese 14 Lebanese 21 Israeli 15 Italian 26 Lebanese 14 Brazilian 13 Italian 82 French 26 Brazilian 13 Greek 11 French 37 Spanish 82 Greek 28 German 11 Spanish 13 Japanese 37 German 28 Swiss 13

Japanese 19 Portuguese 13 Swiss 22 Singaporean 13 Portuguese 19 Korean 14 Singaporean 22 British 42 Korean 14 Dutch 28 British Dutch 42 28

* ncludes nationalities where above 10 respondents I were represented

(1)

For the list of countries per region, please refer to pages 38 and 39. INSEAD MBA GRADUATES 2007 5

Consulting
Recruitment in Consulting was particularly dynamic in 2007 with 39% of the class choosing to join the sector on graduation. While global firms remain the most active recruiters, smaller and more specialised boutique firms continued to increase their visibility on campus. The presence of these new and more diversified consultancies led to broader placement in the sector and kept the proportion of students who found their consulting job through INSEAD Career Services at a very high 64%. In terms of geographical distribution, while Western Europe remains strong in 2007, students chose many other locations. While almost the same proportion of students chose to work in France, Germany and the Netherlands, we noted a 7% decrease in placements in the United Kingdom compared to the previous year. At the same time, Asia Pacific now represents 19% of placements, compared to only 9% in 2006. Singapore, Australia and China remain the most preferred locations in the region. However, Hong Kong and Korea emerge as popular destinations. Overall, salaries and sign-on bonuses around the world are similar to the previous year.

How did they find their job?
Career Services / Alumni Pre-INSEAD employer Own contacts Summer job Own company Total #284 64% 27% 6% 2% 1% 00%

By region(1)
Total 284 7% Africa / Near / Middle East 19% Asia Pacific 5% Central / Eastern Europe 3% Latin America 8% North America 1% Northern Europe 12% Southern Europe 45% Western Europe

(1)

For the list of countries per region, please refer to pages 38 and 39.

6 INSEAD MBA GRADUATES 2007

Within Europe
France 17% Germany 9% Italy 7% Portugal 4% Russia 4% Spain 7% The Netherlands 10% United Kingdom 28% Other* 14%

Total 181

* ncludes countries where fewer than 5 jobs were reported: I Austria (1), Belgium (4), Czech Republic (3), Greece (2), Ireland (2), Luxemburg (1), Norway (2), Poland (1), Romania (2), Sweden (1), Switzerland (4)

Within Asia Pacific
Australia 17% China 13% Hong Kong 10% Korea 10% Singapore 29% Other* 21%

Total 53

* ncludes countries where fewer than 5 jobs were reported: India (3), I Indonesia (1), Japan (3), Malaysia (2), Taiwan (3)

INSEAD MBA GRADUATES 2007 7

Consulting salaries & sign-on bonuses
Overall annual mean salary Overall annual median salary Overall median sign-on bonus*
* 3 % of consulting salaries were reported with sign-on bonus 8 Exchange rate: e1 = US$1,47069

€ 80,900 € 80,000 € 5,000

$ 9,000 $ 7,700 $ 22,060

By region*()
Africa / Near / Middle East Asia Pacific Central / Eastern Europe Latin America North America Southern Europe Western Europe Total # 16 45 12 6 22 28 106 238 Range e 56,400 – 88,400 15,500 – 119,400 68,000 – 84,000 74,800 – 86,000 68,000 – 95,200 60,000 – 100,000 45,000 – 130,000 Mean e 72,800 71,900 76,800 78,900 85,100 72,200 87,700 Median e 74,800 72,800 80,000 78,000 85,000 70,400 86,800 Median Sign-on e** 15,000 12,100 10,200 13,800 13,600 20,000 15,000

Within selected countries*
Australia Canada China France Germany Hong Kong Italy Korea Portugal Russia Singapore Spain The Netherlands United Arab Emirates United Kingdom USA Total # 8 6 5 29 10 5 9 5 7 6 11 11 15 10 40 16 93 Range e 57,700 – 117,200 81,800 – 94,500 73,600 – 79,100 64,000 – 130,000 80,000 – 120,000 67,600 – 74,800 60,000 – 75,000 64,800 – 82,800 65,000 – 70,000 68,000 – 84,000 47,800 – 119,400 60,000 – 100,000 48,000 – 90,000 57,800 – 78,200 45,000 – 113,600 15,500 – 93,600 Mean e 80,500 91,200 75,700 84,500 94,900 70,800 69,900 77,100 69,300 74,400 74,700 75,800 78,300 71,600 91,200 78,000 Median e 77,000 91,100 74,400 85,000 93,000 71,500 70,000 82,800 70,000 71,400 69,300 75,000 80,000 74,800 93,600 81,600 Median Sign-on e** 18,200 13,500 6,800 25,000 15,000 16,300 15,000 13,600 25,000 10,300 20,000 12,000 17,000 13,400 13,600

* where at least 5 salaries were reported ** where at least 5 sign-on bonuses were reported

(1)

For the list of countries per region, please refer to pages 38 and 39.

8 INSEAD MBA GRADUATES 2007

INSEAD MBA GRADUATES 2007 9

Finance
Building on the development in recent years, close to 30% of INSEAD MBA students joined the financial sector on graduation. Investment Banks continue to attract nearly two thirds of these graduates, the majority of whom join either Sales and Trading desks or Merger and Acquisition teams. For the first time, one out of five of these MBAs joined a Private Equity or Venture Capital fund. In addition to the traditional on-campus recruitment activities, Career Services helped students organise dedicated Career treks in 2007. Groups of students participated in Investment Banking Treks to London and Hong Kong, Private Equity and Venture Capital funds visited the school to participate in INSEAD’s 5th Private Equity Conference (IPEC), and MBAs organised career treks to Private Equity funds in London, Hong Kong, Dubai or Vietnam. INSEAD’s Investment Banking, Private Equity, Real Estate and Asset Management Clubs organised sector specific events that attracted more than 30 senior speakers to campus in 2007. In 2007 the vast majority of finance positions could be found in Western Europe, where London reinforces its dominant position and continues to attract over 70% of graduates entering the sector. Asia Pacific remains popular within the region. While Singapore continues to attract the majority of students, Hong Kong is becoming increasingly popular with one third of the Asian-based finance positions (up from 22%). Salaries remain comparable to 2005 and 2006, with an increase in the median sign-on bonus. In this sector 74% of MBAs now receive a sign-on bonus, up 15% since 2005.

How did they find their job?
Career Services / Alumni Own contacts Pre-INSEAD employer Summer job Own company Total #98
By region(1)
Total 98 4% Africa / Near / Middle East 21% Asia Pacific 2% Central / Eastern Europe 2% Latin America 3% North America 1% Northern Europe 6% Southern Europe 61% Western Europe
For the list of countries per region, please refer to pages 38 and 39.

51% 33% 6% 7% 3% 00%

(1)

20 INSEAD MBA GRADUATES 2007

By division
Investment Banking 58% Investment Banking 58% Financial Services 22% Financial Services 22% Investment Banking 20% Private Equity 58% Private Equity 20% Financial Services 22% Private Equity 20% Investment Banking 58% Financial Services 22% Analyst / Research Analyst 7% Analyst / Research Analyst 20% Private Equity 7% Associate 61% Associate 61% Analyst Associate Director 5% / Research Analyst 7% Associate Director 5% Associate 61% Director 3% Director 3% Associate Director 11% Manager 5% Manager 7% Analyst / Research Analyst 11% Director 3% Vice President 2% Vice Associate 61% President 2% Manager 11% Associate Director 5% Vice President 2% Director 3% France 5% Manager 11% France 5% Within Europe Switzerland 5% Vice President 5% Switzerland 2% France 5% United Kingdom 72% United Kingdom 72% Switzerland 18% Other* 5% Other* 18% United Kingdom 72% France 5% Other* 18% Switzerland 5% United Kingdom 72% Hong Kong 34% Hong Kong 18% Other* 34% Singapore 46% Singapore 46% Hong Kong 20% Other* 34% Other* 20% Singapore 46% Other* 20% Hong Kong 34%

Total 198

By top job titles

Total 198 (out of total finance)

Total 140

* ncludes countries where fewer than 5 jobs were reported: I Bulgaria (1), Czech Republic (2), Denmark (1), Germany (4), Greece (3), Ireland (1), Italy (1), Norway (1), Poland (1), Portugal (2), Spain (4), The Netherlands (1), Turkey (3).

Within Asia Pacific

Total 41

Singapore 46% Other* 20%
* ncludes countries where fewer than 5 jobs were reported: I Australia (1), India (3), Japan (1), Korea (2), New Zealand (1)

INSEAD MBA GRADUATES 2007 2

Finance salaries & sign-on bonuses
Overall annual mean salary Overall annual median salary Overall median sign-on bonus*
* 4% of finance salaries were reported with sign-on bonus 7 Exchange rate: e1 = US$1,47069

€ 8,400 € 77,500 € 26,400

$ 9,700 $ 4,000 $ 38,900

By division
Financial Services Investment Banking Private Equity/ Venture Capital Total # 31 101 34 66 Range e 35,000 – 150,000 40,800 – 204,000 38,000 – 150,000 Mean e 83,500 78,000 89,600 Median e 82,900 77,500 90,000 Median Sign-on e** 18,700 29,400 15,500

Top job title*
Associate Associate Director Director Manager Vice President Total # 106 9 5 17 5 55 Range e 37,400 – 126,700 35,000 – 115,000 51,600 – 93,600 63,700 – 204,000 38,000 – 130,000 81,600 – 150,000 Mean e 75,100 77,900 77,300 121,900 80,100 108,000 Median e 80,200 77,500 77,300 123,700 82,900 101,300 Median Sign-on e** 17,800 27,200 13,600 17,100 Analyst / Research Analyst 13

By region*()
Asia Pacific North America Southern Europe Western Europe Total # 35 6 11 105 57
(1)

Range e 37,400 – 204,000 64,600 – 101,300 35,000 – 125,800 65,000 – 150,000

Mean e 76,000 79,200 64,100 84,700

Median e 72,800 79,900 50,000 80,200

Median Sign-on e** 27,200 15,000 26,800

* where at least 5 salaries were reported ** where at least 5 sign-on bonuses were reported

For the list of countries per region, please refer to pages 38 and 39.

22 INSEAD MBA GRADUATES 2007

Within Europe*
Switzerland United Kingdom Total # 7 90 97 Range e 68,400 – 123,700 65,000 – 150,000 Mean e 82,900 84,300 Median e 77,300 80,200 Median Sign-on e** 15,500 27,200

Within Asia Pacific*
Hong Kong Singapore Total # 11 18 29 Range e 40,800 – 204,000 37,400 – 107,500 Mean e 82,200 70,400 Median e 74,400 74,400 Median Sign-on e** 26,100 33,700

* where at least 5 salaries were reported ** where at least 5 sign-on bonuses were reported

INSEAD MBA GRADUATES 2007 23

Industry
In 2007, there was an increase both in the number and the variety of companies outside the finance and consulting sector that turned to INSEAD to source talent. Smaller players, manufacturing firms and service providers successfully competed with established MBA recruiters, often offering MBA students a clear path to general management and P&L responsibility. The variety of sectors recruiting increased also in 2007. High-Tech / telecommunications, healthcare and the energy sector continued to grow their MBA recruitment. The large increase in manufacturing hires in 2007 is mainly due to our change of industry classification and should not be interpreted as a growth area. Western Europe continues to attract half of the graduates that join industry, with the United Kingdom confirming its leadership role. However, a growing number of firms also hired for offices in Switzerland, France, Spain, the Netherlands and Germany. While the industry placement trend for Asia remains stable compared to 2006 (following the continuous market growth in the region), more recruiters came to campus and INSEAD graduates accepted job offers in a greater variety of countries in Asia than previously. Average salaries continued to increase in some sectors and countries as graduates took on a larger variety of positions but remained at a high level overall. More and more graduates join leadership or rotational programmes, especially in the healthcare and manufacturing sectors, which influences the overall salaries in these sectors.

How did they find their job?
Career Services / Alumni Own contacts Pre-INSEAD employer Summer job Own company Total #235
By region(1)
Total 235 6 % Africa / Near / Middle East 22% Asia Pacific 2% Central / Eastern Europe 2% Latin America 6% North America 1% Northern Europe 9% Southern Europe 52% Western Europe
(1)

48% 27% 16% 3% 6% 00%

For the list of countries per region, please refer to pages 38 and 39.

24 INSEAD MBA GRADUATES 2007

Finance 7% Consulting 4% General Management 20% Corporate Planning / Business Development 25%

Top functional areas Marketing & Sales 19%
Finance 7%

Total 235 (out of total industry)

Production / Operations Management 20% General Management 4% Consulting 7% Marketing & Sales 25% Corporate Planning / Business Development 19% Consulting 4% Production / / Business Management 7% Finance Corporate PlanningOperations Development 25% General Management 20% Finance 7% Advertising / Publishing 1% Marketing & Sales 20% General Management 19% Construction 2% Production / Operations Management 19% Marketing Goods 7% Consumer / Luxury& Sales 1% Advertising / Publishing 6% Production / Operations Management 2% Corporate Services 7% Construction 7% Energy / Petroleum 9% Consumer / Luxury Goods 6%

All industry sectors Corporate Services 1% Advertising / Healthcare 12% Publishing 7%
High-Tech / Telecommunications 17% Energy Petroleum 9% Construction 1% Advertising // Publishing 2% Manufacturing* 18% Healthcare 2% Consumer / Luxury Goods 12% Construction 6%

Total 235

Entertainment High-Tech Media // Luxury Goods 17% / Telecommunications 7% Corporate Services 6% Consumer Public Sector – Non Profit Organisations 18% 6% Manufacturing* 7% Energy / Petroleum 9% Corporate Services Raw & Primary Materials 12% Media / Entertainment 7% Healthcare 6% Energy / Petroleum 9% Trade Public Sector – Non Profit Organisations 17% High-Tech / Telecommunications 12% Healthcare 6% Transportation /Manufacturing* 18% Travel / Leisure 3% Raw Telecommunications 17% & Primary Materials 6% High-Tech / Trade 6% Media Manufacturing* 18% / Entertainment 7% Transportation / / Organisations 3% Public Sector – Non Profit Entertainment 6% Media Travel / Leisure 7% Raw & Primary Materials 6% Public Sector – Non Profit Organisations 6% Trade Raw & Primary Materials Transportation / Travel / Leisure Trade 6% 6% 3% 6%
* anufacturing includes M Aeronautics, Automobiles, Electric Machines, Electronic Equipment, Misc. Manufacturing Production, Stone / Clay / Glass and Textile.

Transportation / Travel / Leisure 3%

Within Europe

France 26%

Germany 4% Spain 8% France 26%

Total 149

Switzerland 14% Germany 4% The Netherland 8% Spain 6% United Kingdom 26% Switzerland 14% France 25% Other* 4% The Netherland 17% Germany 26% France 6% United Germany 25% Kingdom 8% Spain 4% Other* 17% Switzerland 14% Spain 8% The Switzerland 14% Netherland 6% United Kingdom 25% The Netherland 6% Other* 25% United Kingdom 17% Other* 17% China 19% India 19% Japan 12% China 19% Singapore 19% India 31% Other* 12% Japan 19% Singapore 19% China 31% Other* 19% India China 19% Japan 12% India 19%
INSEAD MBA GRADUATES 2007 25
* ncludes countries where I fewer than 5 jobs reported: Belgium (3), Czech Republic (1), Greece (4), Ireland (3), Liechtenstein (2), Luxemburg (3), Norway (1), Portugal (4), Russia (1), Slovakia (1), Slovenia (1), Sweden (1) and Turkey (1).

Within Asia Pacific

Total 52

* ncludes countries where I fewer than 5 jobs reported: Australia (1), Hong Kong (1), Indonesia (1), Korea (4), New Caledonia (1), Thailand (1), Vietnam (1)

Industry salaries & sign-on bonuses by region and countries
Overall annual mean salary Overall annual median salary Overall median sign-on bonus*
* 3% of industry salaries were reported with sign-on bonus 5 Exchange rate: e1 = US$1,47069

€ 74,500 € 74,800 € 3,600

$ 09,600 $ 0,000 $ 20,000

By sector*
# Range e 30,000 – 97,200 43,000 – 200,000 50,000 – 103,700 20,600 – 99,000 31,000 – 240,000 13,000 – 105,000 43,000 – 147,000 40,100 – 83,600 57,300 – 100,000 36,700 – 105,000 Mean e 69,100 81,000 75,900 74,400 77,800 70,800 82,100 63,200 75,900 70,400 Median e 70,900 68,700 75,000 76,400 76,400 75,500 77,500 60,700 75,000 68,000 Median Sign-on e** 13,900 13,600 13,400 15,000 20,000 20,000 12,500 Consumer / Luxury Goods 10 Corporate Services 12 Energy / Petroleum 19 Healthcare 21 High-Tech 35 Manufacturing 34 Media / Entertainment 14 Public Sector – Non Profit Organisations 12 Raw Materials & Primary Metals 11 Trade 11 Total 79

By top functions*
Consulting Corporate Planning / Business Development Finance General Management Marketing / Sales Production / Operation Management Rotational Programme Total # 8 50 15 32 39 12 6 62 Range e 55,000 – 240,000 13,000 – 105,000 43,200 – 120,000 29,400 – 147,000 20,600 – 133,600 59,500 – 96,200 57,800 – 93,600 Mean e 98,900 73,000 76,100 75,000 75,800 71,500 75,400 Median e 80,000 76,000 80,000 74,300 75,000 68,800 72,500 Median Sign-on e** 18,000 14,300 13,600 15,000 13,600 7,300 13,400

* where at least 5 salaries were reported ** where at least 5 sign-on bonuses were reported

26 INSEAD MBA GRADUATES 2007

By region*()
Asia Pacific North America Southern Europe Western Europe Total # 43 13 15 98 79 Range e 36,700 – 80,000 13,000 – 120,300 40,500 – 102,000 30,000 – 75,000 29,400 – 240,000 Mean e 56,600 61,500 71,100 60,700 84,600 Median e 59,800 59,900 62,600 80,200 Median Sign-on e** 12,800 15,000 15,000 Africa / Near / Middle East 10

72,800 9,500

Within Europe*
France Spain Switzerland The Netherlands United Kingdom Total # 31 9 16 6 32 94 Range e 45,000 – 200,000 52,000 – 75,000 68,000 – 99,000 50,000 – 240,000 29,400 – 147,000 Mean e 78,100 64,800 85,800 105,800 85,700 Median e 75,000 65,000 86,600 92,500 86,900 Median Sign-on e** 14,300 15,000 15,500 13,400

Within Asia Pacific*
China India Japan Singapore Total # 9 5 6 16 35 Range e 54,400 – 91,000 20,600 – 51,600 28,400 – 70,000 40,100 – 120,300 Mean e 73,900 37,800 50,100 68,800 Median e 68,000 43,000 51,800 64,700 Median Sign-on e** 13,600 -

* where at least 5 salaries were reported ** where at least 5 sign-on bonuses were reported

(1)

For the list of countries per region, please refer to pages 38 and 39.

INSEAD MBA GRADUATES 2007 27

28 INSEAD MBA GRADUATES 2007

Employers of 2007 INSEAD MBA Graduates
Consulting
McKinsey & Company Bain & Company The Boston Consulting Group Booz Allen Hamilton A.T.Kearney Roland Berger Strategy Consultants Monitor Group L.E.K. Consulting OC&C Strategy Consultants Trinsum (formerly Marakon) Arthur D. Little Oliver Wyman

#
106 (36) 40 (9) 35 (13) 21 (9) 12 (1) 9 (4) 6 4 (1) 4 4 3 3

Industry
Johnson & Johnson Google BT Group EF Education Shell Areva Novartis Dell eBay Emerson Inditex Philips Schlumberger Schneider Electric

#
13 (1) 7 5 5 5 (1) 4 4 3 (1) 3 3 3 3 3 (1) 3 (1)

Finance
Barclays Group Deutsche Bank Lehman Brothers Credit Suisse Merrill Lynch Standard Chartered Bank American Express UBS BNP Paribas Morgan Stanley Goldman Sachs HSBC JP Morgan

#
16 (1) 13 (2) 10 (1) 9 (2) 7 (1) 7 6 6 5 5 (1) 4 4 4

Numbers in brackets are former employees. INSEAD MBA GRADUATES 2007 29

2007 Recruiting partners
Companies in bold employed at least three MBA Graduates in 2007 Companies marked “* ” participated in Europe and/or Asia on-campus recruiting activities in 2007

3i 6S Capital A A.T. Kearney* Abbey Abbott Vascular* Abengoa Solar ABN AMRO Accenture* a-connect* ACTED* Actis* ActiveTie Admiral* Advent International Advent Venture Partners African Development Bank* Agro-industries Recherche et Développement Airbus SAS Airtricity* Aker ASA* Alcan Inc.* Alghanim Industries* Alix Partners* Alliance Bernstein Allianz Private Equity Partners GmbH Alpinvest* Alstom* Altima Partners Alvarez and Marsal Amadeus Capital Amadeus IT Group amazon* American Express*

Amgen* Amlin plc Analysys Consulting ANZ Apax Partners France ArcelorMittal* Archetype Arco Capital Management Areva* Arquitectura PBA Arthur D. Little* Asian Food Channel Asklepios Kliniken GmbH AstraZeneca* ATOS ORIGIN Atria Capital Partenaires Autodesk Avaya* Avington Financial* B Bain & Company* Banco Portugues Investimento Bank of America* Barclays Capital* Barclays Plc* BASE Bausch & Lomb* BBVA* BC Partners Bear Stearns International* BearingPoint Beltone Financial Bertelsmann* Bespoke Bill and Melinda Gates Foundation

Biotronik BNP Paribas* Bookioo Booz Allen Hamilton* Boston Scientific* BP* Brambles* BRE Bank SA Bregal Investments Bristol-Myers Squibb BT Group* Bulltick Capital Markets C Caixa Capital Risc Cambridge Place* Cap Gemini* Capital Group* Cargill* Carrier* CD-adapco CDS* Celfin Capital Cemex* Centrica Cerebos Cerner* Chatham Financial* Chemoil* Cisco Systems CIT Bank Ltd. Citi* Clearwater Capital Partners Clickstream Technologies PLC CLSA

30 INSEAD MBA GRADUATES 2007

Coach Inc.* Colgate Palmolive* Comverse Corporate Executive Board Corporate Value Associates* CRA International* Credit Suisse* Crucell* D D. E. Shaw Group* Dalberg Global Development Advisors* Danaher* Dawnay Day Principal Investments Dell* Deloitte* Delta Partners* Deutsche Bank* Development Bank of Japan DFS* Diageo* Diamond Capital Dolphin Capital Partners DSM* Duff & Phelps* Dyar Shemsi E EADS Eaton* eBay EDF Energies Nouvelles Edmond de Rothschild Asset Management EF Education* Electronic Arts Eli Lilly International* Elsevier* Emap Emerson*

Energia Investments EPIC Private Equity EQT Partners Equifax Ericsson* Ernst & Young Estin & Co. Etilize, Inc EURO RSCG Eurobank* Europraxis Consulting* Everest Group* Exane* Exedra Capital Expedia* Extreme Element Ltd. F Falcon Management Partners Faurecia Fiat Group* Fiba Capital Holdings Fidelity Investments* Firmenich SA Fortis* Fortress Investment Group Fresh Minds* FSN capital Future Food Factory G Gartner GE* GEA General Motors Treasury Center* Genzyme* Ginestié Magellan Paley-Vincent Givaudan GlaxoSmithKline Global Advertising Strategies

Global Renewable Resources Goldman Sachs* Google* Grant Thornton Greenwich Consulting H H consulting Habitat for Humanity* Hal Investments HCL Group* Hieronymus Sàrl Hikma Pharma* Hilti Corporation* Hines HOIST AG Holcim Honeywell HSBC* I IBM Global Business Services IDEX Corporation* IDG Ventures International Finance Corporation* Illyria Imerys InBev NV* Inditex* Industrial Decisions Infineon* Infosys Consulting* Innocent SA INSEAD Interbrand Interket International SOS Istithmar IVI

INSEAD MBA GRADUATES 2007 3

J Janssen-Cilag Greece (Johnson & Johnson) Jardine Schindler* Jet Multimedia John Fowler Opthalmics Ltd. Johnson & Johnson* Jones Lang LaSalle* JP Morgan* K Kamal Osman Jamjoom Est KBK 85 Ventures Ltd. Keops A/S KIMMCO Kohlberg Kravis Roberts & Co. Korea Investment & Securities Korn/Ferry International KPIT Cummins KPMG* KPN Mobile International* Krka, d.d., Novo mesto L L.E.K. Consulting* Lafarge* Lasenor last.fm Lazard Lehman Brothers* LG Electronics LGT Capital Partners* LincolnCrowne & Co.* Lingeriemad Lippincott, Mercer Oliver Wyman Liquivision Livermore Capital L’Oréal* Louis Vuitton Löwe, Schwandt & Partner (LSP)* Loylogic

Ludgate Environmental Fund LVMH* M MM3 Capital Partners Ltd* Macquarie* Macquarie Capital Group Magnum Industrial Partners Matsushita Electric Industrial Co., Ltd. McKinsey & Company* Medtronic* Mercer Oliver Wyman* Merrill Lynch* MGI Luxury Group, Concord Microsoft* Migoa MindServices Ministry of Finance Mitchell Madison Group* Moet Hennessy* Molten Group* Monitor Group* Moody’s Investor Services* Morgan Stanley* Motorola* MTS Group* Murex MYS N National Bank Financial* National Basketball Association Navgathi Nemrod Partners Sarl Neo Energia Nestle Limited New Philanthropy Capital Nike* Nissan* Nokia* Novartis*

O OC&C Strategy Consultants* Oliver Wyman* Opera Solutions* Optimal Investments - Santander Oracle* Orbis Investment Advisory Ltd* P PAI Partners Partners Group PCubed PepsiCo* Pernod Ricard* Philips* Pimco* PME African Infrastructure Opportunities Portugal Telecom Powe Capital Management PricewaterhouseCoopers* ProLogis* PRTM* PT. Idola Insani PZU SA Q Quinta Dona Matilde R RedPill Solutions* Rent Mine Online inc Retalika Revolution Health Group Rhone Group* Richemont – Cartier Rio Tinto Alcan Engineered Products Riverstone Holdings LLC RLtec Rohde & Schwarz

32 INSEAD MBA GRADUATES 2007

Roland Berger Strategy Consultants* Rolls-Royce Plc* Rothschild Royal & SunAlliance Royal Bank of Scotland* Russian Construction Group RWE AG* S Samsung* Sanford C. Bernstein* Sanofi-Aventis* Santander* SAP* Sapa Group* Schaeffler Holding (China) Co., Ltd. Schlumberger Schlumberger Business Consulting* Schneider Electric* Seashells School SES ASTRA Shell* Siemens Siemens Management Consulting* Singapore Economic Development Board Singapore Ministry of Manpower SingTel* SK Telecom Société Générale Sodepac Super U Kamére Solon Management Consulting* Sonae Com Sony Corporation SPI Ltd. ST Microelectronics* Stalac Advisory Services LLC

Standard Chartered Bank* Starfish Greathearts Foundation USA Starwood Hotels & Resorts* Stryker* Suez Energy Suez Environnement Summit Partners* SuncarShare Symantec Corporation Syngenta* T T. Rowe Price* TACA Group Taiwan Semiconductor Manufacturing Company* TechnoPak Advisors Techrete Telefonica* Telereal Tesco* Texas Instruments ThaiExpress The Blackstone Group* The Boston Consulting Group* The Executive Office The Global Fund The Redwood Group The Siam Cement Plc The Wine Society of India ThyssenKrupp Gerlach Transcosmos Trinsum (formerly Marakon)* Tristone Capital Turkven Real Estate TVM Capital TVtrip

U UBS* UBS Wealth Management* UCB Group* UNICEF V Value Partners* van Hulten Consulting VeriDoc Services Vodafone Limited Volkswagen Consulting* Votorantim Asset Management W Wealth Management Resource Center* Welcome Real-Time Wellington Management WestPac* Whirlpool* Wipro* World Business Council for Sustainable Development Z Zerohotel ZON Multimedia ZS Associates*

Total: 397

INSEAD MBA GRADUATES 2007 33

Summer internships and compensation trends
Overview Summer internships continued to gain in popularity in 2007 with over 200 MBA participants reporting a summer job. As in previous years, the average duration of the internship was 7 weeks. An impressive 118 companies recruited these students (up from 105 in 2006), and 22 companies took more than 3 interns from INSEAD. Approximately 93% of the graduates used the summer internship to work in a new company, and almost all found the experience useful in gaining insights into a new sector, function or country. Positions in finance continued to account for the vast majority of internship places in 2007 (43%), reflecting the investment banks’ recruitment strategy hiring for full-time positions primarily through their summer associate programmes. Consulting saw a major increase from 9% in 2006 to 18% in 2007, and several students joined Social Impact organisations over the summer. The geographical distribution of internships across continents was similar to that of previous years with over half the class choosing Western Europe and close to a quarter Asia Pacific, where India became the second largest destination. The biggest number of internships are still found in the United Kingdom, which is dominated by finance positions.

By region(1)
Total 204 4% Africa / Near / Middle East 23% Asia Pacific 5% North America 3% South America 3% Eastern Europe 1% Northern Europe 6% Southern Europe 55% Western Europe

(1)

For the list of countries per region, please refer to pages 38 and 39.

34 INSEAD MBA GRADUATES 2007

Within Europe France 12%
Switzerland 12% France 5% Spain 8% Switzerland 12% France 5% UK 8% Spain 58% Switzerland 5% The Netherlands 58% UK 5% Spain 8% Other* 12% The Netherlands 58% UK 5% Other* 5% The Netherlands 12% Other* 12% India 15% Singapore 15% Within Asia Pacific India 55% Other* 55% 30% Singapore 15% India Other* 30% Singapore 55% Other* 30%

Total 133

* ncludes countries where fewer than 5 jobs were reported: I Belgium (2), Czech Republic (1), Germany (4), Greece (1), Italy (2), Poland (2), Russia (1), Slovakia (1) and Turkey (2)

Total 47

* ncludes countries where fewer than 5 jobs were reported: I Afghanistan (1), Australia (2), China (3), Hong Kong (2), Indonesia (1), Japan (1), Korea (1), Malaysia (2) and New Zealand (1)

By sector
Corporate Services 2% Investment Banking 2% Corporate Services 31% Energy / Petroleum 6% Investment Banking 2% Corporate Services 31% Energy /Healthcare 6% Petroleum 3% Investment Banking 31% Raw Materials & Primary Metals 3% 3% Energy /Healthcare 6% Petroleum Public Sector – Non Profit Organisations 3% 3% Raw Materials & Primary Metals 3% Healthcare Consulting 18% Public Sector – Non Profit Organisations 3% Raw Materials & Primary Metals 3% Media / Entertainment 2% Consulting 3% Public Sector – Non Profit Organisations 18% Telecommunications 2% 2% Media / Entertainment 18% Consulting Manufacturing 5% Telecommunications 2% Media / Entertainment 2% Construction 1% Manufacturing 5% Telecommunications 2% Consumer / Luxury Goods 1% Construction 3% Manufacturing 5% High-Tech 5% Consumer / Luxury Goods 1% Construction 3% Private Equity / Venture Capital 12% High-Tech 5% Consumer / Luxury Goods 3% Trade 2% Private Equity / Venture Capital 12% High-Tech 5% Transportation / Travel / Aeronautics 2% Trade 2% Private Equity / Venture Capital 12% Transportation / Travel / Aeronautics 2% Trade 2% Transportation / Travel / Aeronautics 2%

Total 196

INSEAD MBA GRADUATES 2007 35

Summer job: monthly base salary
By sector*
Consulting Corporate Services Energy / Petroleum Healthcare High-Tech Investment Banking Manufacturing Raw Materials Public Sector – Non Profit Organisations Venture Capital / Private Equity Total # 36 5 12 6 8 64 10 6 4 20 67 Range € 200 – 10,400 1,400 – 7,400 1,100 – 7,100 500 – 5,000 700 – 5,000 600 – 9,600 500 – 5,900 2,000 – 4,000 2,200 – 2,600 800 – 7,400 Median €* 5,500 3,400 4,500 3,800 2,500 7,100 4,900 2,700 2,500 2,900

By country*
France India North America Singapore Spain Switzerland The Netherlands United Kingdom Total
*where 4 or more salaries were reported. Exchange rate: Financial Times, 01 August 2007

# 14 5 9 26 9 7 7 73 50

Range € 400 – 8,500 500 – 1,800 900 – 5,900 1,300 – 6,700 1,100 – 8,300 3,200 – 5,500 2,000 – 6,000 1,000 – 9,600

Median €* 4,000 1,400 3,100 3,100 3,000 3,700 2,500 7,100

36 INSEAD MBA GRADUATES 2007

Companies which hired summer interns in 2007
Companies in bold employed at least three interns 3i A Aavishkaar Abraaj Capital ADL Advention Business Partners Alcan American Express Amgen Arcapita Argos Soditic Arthur D. Little A.T. Kearney Atlantis International Dive Center B Bain & Company Bank of America Barclays Group Baxter BBVA BCP Bombardier Aerospace Booz Allen Hamilton BP Solar Bullnet Capital C Caledonia Carbon Capital Markets CDS Cerner Citi Comuto Credit Suisse D Danaher Dell Deloitte Consulting Deutsche Bank DFS DHL Diageo DSM Duet Asset Management Group E ebookers Ltd. EFG Eurobank EnerNOC Inc Expedia Extreme Element F FBS Management Fortis Bank Future Food Factory G GAZ International GFIA Private Ltd. GLG Partners Goldman Sachs International H Hexagon Partners HSBC I I2O Water Ltd. Iberinco IBM Input INSEAD Intrinsic Value Investors Isthitmar J Jet Multimedia JM Financial Consultants Pvt Ltd. Johnson & Johnson JP Morgan L Lafarge Lausanne Consulting Group LCC Lehman Brothers L.E.K Consulting LG Electronics Louis Vuitton M Macquarie McKinsey & Company Meantime Brewing Company Medtronic Merittrac Services Limited Merrill Lynch mm consulting Moody’s Investors Service Morgan Stanley Motorola N Novartis O OC&C Strategy Consultants P Pernod Ricard Philips Pictet & Cie Point Carbon PricewaterhouseCoopers R Reliance Industries Ltd. Reuters Rhone Capital Ronin Capital Llc S Sanford C. Bernstein Santander Schaeffler Group Schneider Electric SCT UAE Shell Siemens SingTel Standard Chartered Bank StratX Syngenta T Technoserve Telefonica Internacional Temasek Holdings Tesco The Boston Consulting Group T Rowe Price Turkven U UBS UNICEF Unicredit Unite Union UnLtd. V Value Partners W Walter Scott & Partners Warburg Pincus Total: 118

INSEAD MBA GRADUATES 2007 37

List of countries per region

Africa Algeria Angola Benin Botswana Burkina Faso Burundi Cameroon Cape Verde Central African Republic Chad Comoros Congo Congo Rep.Dem. Djibouti Egypt Equatorial Guinea Eritrea Ethiopia Gabon Gambia Ghana Guinea Guinea-Bissau Ivory Coast Kenya Lesotho Liberia Libya Madagascar Malawi Mali Mauritania Mauritius Morocco Mozambique Namibia Niger Nigeria Reunion Rwanda Saint Helena

Sao Tome and Principe Senegal Seychelles Sierra Leone Somalia South Africa Sudan Swaziland Tanzania Togo Tunisia Uganda Zambia Zimbabwe America North Canada Greenland Mexico USA America South Anguilla Antigua-Barbuda Argentina Aruba Bahamas Barbados Belize Bermuda Bolivia Brazil Cayman Islands Chile Colombia Costa Rica Cuba Dominica Dominican Republic Ecuador El Salvador Falkland Islands

Grenada Guadeloupe Guatemala Guiana Guyana Haiti Honduras Jamaica Martinique Montserrat Netherlands Antilles Nicaragua Panama Paraguay Peru Puerto Rico St Kitts and Nevis St Lucia St Vincent and The Grenadines Surinam Trinidad and Tobago Turks and Caicos Islands Uruguay Venezuela Virgin Islands (British) Virgin Islands (US) Asia Pacific Afghanistan American Oceania American Samoa Australia Bangladesh Bhutan Brunei Darussalam Cambodia China Christmas Island Cocos Islands Cook Islands East Timor

38 INSEAD MBA GRADUATES 2007

Fiji French Polynesia Guam Hong Kong India Indonesia Japan Kiribati Korea Laos Macau Malaysia Maldives Marshall Islands Micronesia Mongolia Myanmar Nauru Nepal New Caledonia New Zealand Niue Norfolk Island North Korea Pakistan Palau Papua New Guinea Philippines Samoa Singapore Solomon Islands Sri Lanka Taiwan Thailand Tokelau Tonga Tuvalu Vanuatu Vietnam

Eastern Europe Albania Armenia Azerbaijan Belarus Bosnia and Herzegovina Bulgaria Croatia Czech Republic Estonia Georgia Hungary Kazakhstan Kyrgyzstan Latvia Lithuania Macedonia Moldova Poland Romania Russia Serbia and Montenegro Slovakia Slovenia Tajikistan Turkmenistan Ukraine Uzbekistan Near/Middle East Bahrain Cyprus Iran Iraq Israel Jordan Kuwait Lebanon Oman

Palestine Qatar Saudi Arabia Syria United Arab Emirates Yemen Northern Europe Denmark Faroe Islands Finland Iceland Norway Sweden Southern Europe Gibraltar Greece Italy Malta Portugal Spain Turkey Vatican Western Europe Andorra Austria Belgium France Germany Ireland Liechtenstein Luxemburg Monaco Switzerland The Netherlands United Kingdom

INSEAD MBA GRADUATES 2007 39

Important INSEAD recruiting guidelines
Non-disclosure of grades: INSEAD’s selection criteria demand a rigorous evaluation of intellectual and professional abilities. To obtain the MBA degree is a significant achievement. Therefore, as a matter of policy, grades are considered confidential during the recruitment process. Students will only be able to communicate about the Dean’s List. At this stage, full transcripts of grades, can only be obtained after graduation. Equal consideration for students on both campuses: Participants are selected from a centralized applicant pool, so that both campuses have roughly the same MBA profile. Recruiters are thus expected to consider all candidates regardless of their campus location. This will also include exchange students at and from Wharton. It is also in employers’ interests to target both INSEAD campuses, as – after the first four months of the programme – participants are able to move freely between sites every two months. Career Services has comprehensive systems in place, such as videoconferencing equipment, to facilitate the recruitment process. Non-discrimination: As an international business school, INSEAD adheres to the principles of equality and impartiality. We expect companies recruiting at INSEAD to respect these principles. For more details on recruiting at INSEAD, please visit Corporate Recruiters section of our website: http://www.insead.edu/mba/careers General Enquiries Europe Campus Tel: +33 (0)1 60 72 42 24 [email protected] Asia Campus Tel: +65 6799 5428 [email protected]

40 INSEAD MBA GRADUATES 2007

Europe Campus Boulevard de Constance 77305 Fontainebleau Cedex, France Tel: +33 (0)1 60 72 42 24 Fax: +33 (0)1 60 72 44 03 Asia Campus 1 Ayer Rajah Avenue, Singapore 138676 Tel: +65 6799 5428 Fax: +65 6799 5499 www.insead.edu/mba/careers

Printed by INSEAD - 06-2008 - Photography: Philippe Aubry - Rory Daniels - CONTEXTES