The 2012 Essential Guide to INSEAD

2011/12 EssentialGuide to
INSEAD

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2011/12EssentialGuide

INSEAD

The Veritas Prep 2011/12 Essential Guide to INSEAD
We’ve worked with thousands of business school candidates over the past decade of GMAT prep and admissions consulting, and we’re most often asked for advice on a relatively small list of the top U.S. programs. Whenever a client of ours is interested in exploring a business education outside the U.S., almost inevitably, INSEAD is at the top of the list. While INSEAD doesn’t have the same name recognition in the U.S. as American schools like Harvard and Stanford, it hits in the top of all major international rankings systems, and has for years. We’ve always been struck by the drive and focus that we see in INSEAD students, staff, and faculty. The quality of an INSEAD education is hard to beat, and the unique structure of the program makes it a compelling choice for many highly qualified applicants. This Essential Guide is designed to help those who are interested in going beyond the standard American two-year program to see what other formats and locales for an MBA education might also serve their needs. The Veritas Prep website also contains helpful (and free!) resources to guide you in the process of applying to the best business schools in the world.

“At INSEAD, you will have one year to challenge your thinking, change your outlook and choose your future.” INSEAD

What’s Inside
About INSEAD................................................................................................................................................2 What’s New at INSEAD.............................................................................................................................5 What Makes INSEAD Different.............................................................................................................6 Admissions at INSEAD..............................................................................................................................9 2011-12 Essays (for the Class of 2013)...........................................................................9 Admissions Criteria ...............................................................................................................12

Deadlines ....................................................................................................................................13 INSEAD Students .....................................................................................................................................15 INSEAD Academics & Grading Policies........................................................................................16 Notable Courses & Faculty at INSEAD..........................................................................................19 APPENDIX......................................................................................................................................................22 GMAT Statistics..........................................................................................................................22 Visiting INSEAD: Fontainebleu and Singapore......................................................22 Costs & Financial Assistance at INSEAD ....................................................................24 Student Organizations ........................................................................................................27 Professional Recruitment at INSEAD ..........................................................................28 Employment Statistics ........................................................................................................29

Veritas Prep and Your INSEAD Application...............................................................................31

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About INSEAD
The INSEAD tagline is “The business school for the world” and more than any other top school, INSEAD distinguishes itself through the international scope and the emphasis it places on producing graduates with a business mindset unrestricted by national boundaries. INSEAD was co-founded by Georges Doriot, an American who is considered “the father of venture capital” (he founded American Research and Development Corporation, to provide capital to veterans returning home from WWII, which essentially launched the VC industry). The school’s ties to both venture capital and private equity remain deep, though connections to investment banking are more limited. Major consulting firms often value the unique experience and differentiated skill set that INSEAD graduates bring. From the school’s two campuses in France and Singapore to a requirement to speak three languages by the time you graduate, INSEAD’S commitment to international diversity is real, and applicants must demonstrate both significant international experience and a thoroughly global outlook in order to be admitted. INSEAD’s students come from over 80 different countries, with generally no more than 10% of participants from any given nation. As a result, no one culture dominates INSEAD’s MBA program (though there can seem to be a predominance of Americans, since there are 14% from North America including a number of faculty). Coursework is completed in English for the majority of the INSEAD program offerings. The INSEAD MBA is sometimes seen as less ideal for career changers because the September intake is a straight-through program that does not accommodate an internship which is usually seen as critical to making a jump. Students starting in the January intake have a natural break in studies, which does allow for an internship. All INSEAD students must hit the ground running almost immediately when courses begin, so there is much less time for exploring and figuring out what you want to do here - students really should have a plan for the future in hand before they start the program. The INSEAD MBA and EMBA options are also pricey, although because of their compressed format, applicants have lower opportunity cost and are able to re-enter the workforce more quickly, with less overall expenses than what a typical two-year full-time student at a U.S. school would incur.

“INSEAD’s notion [is] of ‘The Business School for the World.’ Here we create leaders who can go beyond their personal success, doing something for the world, and having a purpose.” INSEAD Dean Dipak Jain

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Degree Programs at INSEAD
The educational options available at INSEAD include: • MBA This is as the most popular program, a 10-month intensive experience that prepares students to quickly advance in their career. INSEAD offers two intakes, with rolling admissions processes, and a competitive applicant pool. This Essential Guide was developed to guide those interested in this full-time MBA program. While the INSEAD program is much shorter than a standard American two-year MBA, it is literally the same amount of learning - and the same amount of class time - simply compressed into a shorter calendar. Global Executive MBA Two flavors of the 14-month INSEAD GEMBA are available, each with different intakes, one focusing on Europe and Asia, the other, which launched in Abu Dhabi in 2009, on the Middle East. Successful candidates are typically well into their 30s with significant career experience. PhD A very challenging doctoral course that typically requires five years, INSEAD PhD candidates study in either France or Singapore in behavior research or through the various INSEAD initiatives such as eLab for the digital economy or the INSEAD Blue Ocean Strategy Institute. Joint Degree Programs In the past year, INSEAD has been extending its reach through partnerships with other premier institutions around the world. A variety of dual degree and cooperative educational tracks exist for MBA students, including an LL.M. to study international business law with Sorbonne University in France, a MA/MBA in international relations with Johns Hopkins in the U.S., and a streamlined admissions process with LKY, a public policy graduate program in Singapore. Non-degree executive education For those looking to increase skills, and for corporations seeking specialized, custom-built training for managers, the INSEAD Executive Education programs offer the strength of the school’s faculty and research in the most customizable formats.

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The INSEAD Campuses
As part of INSEAD’s commitment to providing an MBA education with a truly international perspective, the 10-month MBA program is run concurrently on two campuses, located in Europe and Asia. INSEAD currently defines itself around this physical distinction and format, however this setup is a relatively new development, as the Asia campus only opened in the year 2000. The school has expanded to the Middle East as well recently, and as a presence in Israel with a research facility. INSEAD maintains business offices in New York City mostly to support candidates from North America. European Campus - Fontainebleau The town of Fontainebleau-referred to by INSEAD students as “Fonty”-has been a fashionable weekend getaway for the French aristocracy since the 16th Century due the town’s location in the middle of one of Western Europe’s largest forests (about 40 minutes south of Paris). The forest provides extensive opportunities for walks, running, biking and rock climbing. The INSEAD campus contains 28 lecture halls, two restaurants, a bar, a bookshop, a gym, squash courts and extensive library resources. Additionally, INSEAD is just a ten-minute walk from the center of town. Fontainebleau itself is dominated by the massive Chateau de Fontainebleau, which served as a “hunting lodge” for French rulers from Francois I to Napoleon, who was escorted from the Chateau’s grand horseshoe staircase into exile on Elba (from which he would eventually return).

“MBA participants in Fontainebleau must make their own arrangements for accommodation, which range from apartments in the town itself to rented country houses and private chateaux that dot the surrounding countryside.”

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MBA participants in Fontainebleau must make their own arrangements for accommodation, which can range from apartments in the town itself to rented country houses and private chateaux that dot the surrounding countryside. Renting a car during your stay is virtually a necessity. When you tire of French country living, Paris is only 40 miles away to the north (the trip about 90 minutes by car, given typical traffic patterns, or train service is available from the neighboring town of Avon). If you have never visited, prepare to be dazzled. During breaks, students explore France’s wine regions, lay on the beach in St. Tropez, ski at Courchevel or go on shopping trips to Milan, where there are many bargains to be had. Barcelona and London are also popular weekend and holiday destinations. Asian Campus - Singapore In contrast to INSEAD’s European campus, the Asian campus in Singapore is located in one of the world’s most highly urban settings. The campus accommodates 950 students and includes lecture halls, a library, meeting rooms, extensive workspaces and a fully equipped fitness center. As in Europe, MBA students in Singapore make their own accommodation arrangements, which range from modern condominiums with swimming pools and tennis courts, to government-subsidized apartments. The MBA office has a listing of local real estate agents and landlords who can assist with the housing search. Singapore is a bustling, modern city-state that combines Chinese, Indian, Malay and British culture. It is known for its fantastic shopping, a wide array of culinary experiences and an impressive selection of cultural events. Sentosa Island is a popular island resort that includes a dizzying selection of recreational facilities including volleyball, roller-blading, cycling, canoeing, miles of tropical beaches, two golf courses, a butterfly park and an oceanarium, to name just a few. After dark, Singapore has a lively nightlife. Fortunately it is all a breeze to explore-getting around Singapore is both easy and cheap thanks to the city’s excellent public transportation system. The INSEAD campus is located a short distance from the subway, buses run frequently and taxis are plentiful and cheap. MBA participants take advantage of their breaks and weekends to explore South East Asia, with visits to Bali, Angkor Wat and Bangkok being the most popular. The Indonesian island resort of Bintan is only a 45-minute ferry ride away. Middle East campus - Abu Dhabi The newest addition to the INSEAD global “campus” is a location in Abu Dhabi in mid 2010, which currently houses only the Executive MBA and executive education options, but not full MBA nor PhD programs, though students in those programs visit and take elective classes there.

“We have one MBA program delivered seamlessly across both continents.”

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What’s New at INSEAD
• A new dean. Dipak Jain took over as Dean of INSEAD in 2011, coming out of retirement to do so after a career at the Kellogg School at Northwestern University. Dean Jain brings his very complementary and relevant expertise in marketing and entrepreneurship with him to Fontainebleu; his past research has been focused on innovation in the high-tech space and the diffusion of innovation. He takes over a position that has changed hands several times over the past ten years in a very confusing fashion, due at least in part to the extended and involved process for installing a dean at the school. Appointing an American dean is a sign that INSEAD intends to expand to North America in the coming years (while Jain was born and educated primarily in India, he is an American citizen). The school’s first focus, and Dean Jain’s first priorities, will be on strengthening its presence in Asia and the Middle East. Several new educational partnerships for public policy, international relations, and law students. In Spring of 2011, INSEAD and the SAIS school of international relations at Johns Hopkins in Washington, D.C. announced a new MA/MBA degree program designed for those interested in working in public policy, government, and NGOs. Students complete both degrees in 2½ years, which is less than would be required if tackling the programs separately. INSEAD also formalized an agreement with the Lee Kuan Yew School of Public Policy in Singapore whereby students in each program may easily continue their studies at the partner school, allowing for INSEAD MBA students to also pursue an MPA (Master’s of Public Administration) if desired. And, INSEAD has forged a partnership with France’s leading law school to create a LL.M. (Master of Laws) in International Business Law. This INSEAD/Sorbonne partnership is Europe’s answer to the JD/MBA. Further emphasis on Asia. The newest programs at INSEAD are executive education tracks in Singapore, with an expansion of its Global EMBA, and an overhauled offering of the Advanced Management Program for senior executives. The Singapore location is also growing, with a new facility in the works. GRE now accepted. Finally, INSEAD made the change in 2011 to open up its admissions process to candidates who have only taken the GRE. This is likely due to an effort to be accommodating to INSEAD’s new partner schools, and the propensity of students in those programs who have the GRE in hand, but not the GMAT.

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“Teachers and administrators describe the experience of the one-year accelerated program as ‘drinking from a fire-hydrant’.”

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What Makes INSEAD Different
One Program, Two Campuses. Unlike its top American competitors, INSEAD is not affiliated with a larger university. What INSEAD may lose from being affiliated with a larger institution, it gains from having two fully-integrated campuses in Europe and Asia. The French campus is located in the weekend resort town of Fontainebleau, approximately 40 miles south of Paris. The town itself is dominated by one of France’s largest palaces, which served as a hunting lodge for French kings since the 16th Century up until the time of Napoleon. By contrast, INSEAD’s Asian campus is in the middle of highly urban Singapore, a city-state known for its fusion of Chinese, Indian, Malay, and British culture. One-Year Accelerated Program. Teachers and administrators describe the experience of the one-year accelerated program as “drinking from a fire-hydrant.” Indeed, days are long and studying is intense. The school points out that the cost of a one-year program provides a better return on investment than a traditional two-year program, and many of INSEAD’s graduates would agree. INSEAD’s MBA curriculum matches that of a two-year program, with students attending over 350 class sessions in 10 months, or approximately 80% of the course volume of a traditional, two-year MBA program. Many students arrive with a great deal of knowledge and professional experience under their belt and are better prepared to handle the intense pace and accelerated learning schedule. Staggered Intakes. INSEAD’s MBA program lasts 10 months and is divided into two staggered classes: one running from January - December (called the January intake) and September - July (called the September intake). Students in the January intake take two months off during the summer to either pursue an internship or to travel in Europe or South East Asia. Both intakes run concurrently on the Fontainebleau and Singapore campuses. In addition to providing a unique international MBA experience, INSEAD also ensures that its students discover exactly how much learning, work, fun and cultural exploration they can pack into 10 months. Few come away without having increased their motivation and capacity to use their time and energy for maximum results. Mobility. The unique structure of the program with the different campuses - and the number of relationships with other top schools - means that many students move around to different countries to explore educational opportunities through INSEAD in different locales. It is not uncommon for a student to experience six different countries in just the first six months of the program. And, with these very unique experiences of living and working in-country, students can get a feel for what a career in that region would really be like - before accepting a job offer. Employers benefit too, as their new hires bring a sophistication about culture and international business that is unparalleled, and are often more flexible in terms of where they might take new assignments, having the confidence in knowing they can adapt to different environments in the future. Diversity. Each graduating class of nearly 1,000 students at INSEAD (two intakes) is full of rich and varied backgrounds, more so than any other school in the world. Only about 19% of students speak English as their mother tongue - in fact, 43% speak “other”, meaning too numerous to identify individually. No more than 10% of the class is from any one country. Fewer Women. Diversity at INSEAD unfortunately doesn’t completely encompass gender. Like other business schools, INSEAD struggles to fill its classes with women, and despite more concentrated efforts and generous financial support to attract more women in recent years, only 33% of students are female. This is a little low compared to some American schools (Stanford has 39% women) but about the same compared to other international programs, and it’s a remarkable improvement from the mere 14% women that INSEAD reported only about five years ago. Many may be surprised to know that Middle Eastern countries are some of the strongest supporters of the education of women, and with INSEAD’s presence in Abu Dhabi and its collaboration with Sheikh Mohammed, the number of women students from this important region may soon be on the increase. Maturity. Regardless of chronological age, INSEAD requires students to bring maturity to their experiences on campus, and to be self-motivated and proactive about their life. The main reason for this is the pace of the program: once it starts, it doesn’t let up, and it would be easy for an introvert or an emotionally younger person to be overwhelmed. If you get left in the dust out of the gate at INSEAD, it’s unlikely you’ll be able to catch up. You need to be able to make decisions, and be unafraid to dive in. The INSEAD admissions team actively screens candidates for these qualities through the various components they’re evaluating.

“Without actions, the world would still be an idea.” Georges Doriot, Co-Founder, INSEAD

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Myths and Misperceptions about INSEAD
• Is INSEAD really a global school? Or is it just an American school located overseas? While INSEAD may have physical locations in three very different countries, with students representing over 80 nations on campus, and it has been successful in defining itself as a global education, some still criticize INSEAD as being an American school experience, given the large number of U.S. nationals who attend, the concentration of American faculty, and the relationships with so many American companies. In the past, this was simply a reflection of the power of the U.S. in business the world over, and that may be changing. Regardless of nationality, all students and faculty at INSEAD have a global worldview, and all are interested in learning about business from this broader perspective which is simply not as pervasive (yet?) at any American school. INSEAD is in France so I need to speak French to apply. No - but you need to speak a second language to gain entry (and a third to graduate). Courses are taught in English, not French, and the program rotates through the different campuses - and in fact, applicants to the program are not guaranteed that they will be assigned to one location or the other to start the program, and a large number switch campuses at least once. The main language requirement to apply is to be fluent in English, though students must be familiar with at least one more language before entering, and must demonstrate a working knowledge of a third during the course of study. INSEAD is only good for someone who wants to work in Europe. The location in France can be an advantage if your goals are to stay in Europe however many American graduates do return to the U.S. after finishing school. The job search can be more difficult for these students, but that can be true for American graduates of any international program, including those at London Business School, HEC Paris, IE, IESE, etc. INSEAD students are older. Actually, the average age in each intake is currently 28 - the same as for American schools like NYU and UC-Berkeley Haas. The average age decreased in recent years as INSEAD has accepted a wider range of candidate profiles. Successful applicants at INSEAD definitely are able to articulate how they are ready for the experience, and often students will have already led rich lives with diverse and impressive accomplishments. All INSEAD students are sponsored. Just like with other full-time MBA programs, some students do have their tuition covered by their employers and will return to work after graduation, but the vast majority are self-funded. (The number of sponsored students increased in the past year, no doubt a result of the economic downturn that made the security of staying with their employer more enticing for those pursuing their MBAs.) The major exception to this are students who come from the Big Three consulting firms - McKinsey, Bain and Booz. These students typically are sponsored, in exchange for a commitment to return to their firm. However, candidates may be pleased to note that all three of these marquee companies recruit a large number of additional INSEAD graduates each year. Since it’s a #1 program, INSEAD must require a stratospheric GMAT score to get in. Actually, GMAT scores on average are lower at INSEAD. This program, as some other international schools do as well, values a variety of attributes in a profile, with test scores being just one. As with any MBA program, a high GMAT can help, and a low GMAT can hinder, a candidate’s chances, but there are lots of other factors taken into consideration by the INSEAD Admissions Committee when evaluating an application.

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“The most important thing business schools can teach today are the foundations of business. That means skills, tools, concepts, and a way of thinking: how to put a structure on unstructured problems, how to develop a framework for execution.” INSEAD Dean Dipak Jain

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INSEAD Is a Good Fit for You If...
• You want to work in a multinational company or you want to work overseas. This is a common profile for an INSEAD candidate and its unique program offers obvious advantages to candidates with goals in an international context. It can be somewhat more challenging for graduates to find jobs in the U.S. when coming out of INSEAD, although they can leverage the recruiting resources available at INSEAD’s partner schools like Wharton and Kellogg to gain a “home field advantage” in the job search process. You have clear goals and are not changing careers (much). With the need to hit the ground running on Day One at INSEAD, students don’t have much time to figure out what to do next. They should have career goals well defined in advance. If changing careers, then the January intake might be a more suitable option, and students need to be prepared to put in extra effort to secure the right internship to enable their transition. You are headed to work in a family business. Only a few schools have resources devoted to the challenge faced by those taking over a family legacy (ESADE is another). INSEAD has a specialized Family Enterprise Challenge executive education program and faculty such as Christine Blondel have focused their research on multi-generational family business and the successor’s dilemma. You are interested in entrepreneurship or private equity. Given INSEAD’s roots in venture capital, it is not surprising that it is a powerhouse for all things entrepreneurial. The INSEAD Private Equity Conference offers significant access to the industry each year, and students report excellent opportunities and connections coming out of the school. You want to be a consultant. The major consulting firms often recruit at INSEAD due to the quality of its graduates. The preparation you can receive at INSEAD to tackle global issues in strategy, operations, organizational structure, or other important practice areas is comparable to none. You love languages. This goes without saying: with the emphasis on language arts at INSEAD, a proclivity for language and a love of culture are of paramount importance. You want to take advantage of multiple programs and opportunities in different countries. With INSEAD’s close partnership with Wharton and Kellogg and affiliations with major business schools in Asia and elsewhere, students are able to study at multiple premier graduate schools all while pursuing their INSEAD degree. You are flexible and can deal with ambiguity. When applicants don’t even know where they’ll literally be going to school if accepted - Europe or Asia - they need to bring with them a resilience and a willingness to adapt, just to survive the admissions process. One sign of the maturity that INSEAD values in candidates is the ability to roll with the punches and be agile to change. The INSEAD program is so fast-paced and hectic that it might be a burden to someone who is ill prepared.

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Admissions at INSEAD 2011-12 Essays (for the Class of 2013)
INSEAD requires two essay sets - the first labeled “Job Description Essays” and the second a more general group of questions. Because of their two intakes and rolling admissions for both, the INSEAD application tends to stay quite stable; it is somewhat difficult for the admissions committee to introduce changes to the essay questions since they are always in the midst of evaluating an incoming class, and they need to be able to evaluate all applicants on an apples-to-apples basis. Where many American schools are reducing word counts and eliminating essays entirely from their application, the INSEAD essays still represent a significant amount of effort and should not be treated lightly. It is far more common for an applicant to be dismissed based on a poor showing in the written presentation than for an admissions team member to be impressed. Take the time to reflect on what INSEAD is asking and use concrete examples to present the details of your candidacy, so that you have a better chance of seeing the latter outcome.

Job Description Essays

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Briefly summarise your current (or most recent) job, including the nature of work, major responsibilities, and, where relevant, employees under your supervision, size of budget, clients/ products and results achieved. (250 words) Many applicants have a very difficult time fitting all this information into the limited space requirements of about two paragraphs. The key here is to be incredibly specific in terms of answering each element of the question, without straying outside the borders at all. This question is not asking about what you want to do in the future, and it’s not asking for a list of accomplishments or even a complete job history. - there are other questions for all that. While you might indicate a recent promotion in your answer, you should not describe anything beyond what you currently do at work today. Please give us a full description of your career since graduating from university. If you were to remain with your present employer, what would be your next step in terms of position? (250 words) Again, two paragraphs may not feel like much room to handle this question, yet one factor that the admissions team is looking for is, can the candidate follow directions? This question should be strictly linear (chronological) in presentation, and it should be brief. If you are applying to NYU Stern, then this question is essentially the same as its essay 1, part a: it should highlight how you have moved from A to B to now. The second part of this INSEAD question is actually asking for you to tell the admissions committee what you will do if you are not accepted into business school. This is letting them get a sense for what your career trajectory currently is and what your options are. INSEAD is not interested in candidates who are looking to go to business school to escape a dead-end career or who feel that the MBA is the answer to all their problems. Candidates should be using this question to start to establish their platform and to implicitly show how an MBA is the natural and logical next step for their careers.

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If you are currently not working, what are you doing and what do you plan to do until you start the MBA programme? (250 words) This question is new this year, and it’s clearly a byproduct of the economic downturn, where many people have decided to pursue an MBA after getting laid off. The fact of the matter is that regardless of when you’re applying to INSEAD, there will be some time between the moment you submit your application, and the start date of the next MBA intake. The adcom wants to see evidence here that you’re looking to use that time wisely in pursuit of further skills. Ideally you will be able to show them through this essay that you are already advancing towards your career goals, regardless of the circumstances that may have resulted in your current unemployment. Make sure that you don’t appear to be waiting for admission to INSEAD as the way out of your economic difficulties. Instead, show the admissions committee how you are making progress with your life today.
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Main Essays

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Give a candid description of yourself, stressing the personal characteristics you feel to be your strengths and weaknesses and the main factors, which have influenced your personal development, giving examples when necessary. (600 words maximum) You already told the admissions team what you do, and what you have done, in your professional life. This question is the common “getting to know you” essay that many schools ask. This question is an opportunity to demonstrate maturity and the ability to self-reflect. Using actual examples from your life to illustrate how you have grown and changed is crucial; in this respect, this question is quite similar to UCLA Anderson’s main essay (though Anderson allows 750 words). Describe what you believe to be your two most substantial accomplishments to date (if possible specify one personal and one professional), explaining why you view them as such. (400 words maximum) This is clearly a riff off of Harvard’s essay 1 - nearly exact language, except that Harvard asks for three achievements in 600 words. Your accomplishments are a way for the admissions committee to see your impact on the world, on the job, and in your life. One of these accomplishments should be taken from a professional context, and the other can have a more personal slant, though it’s fine if both are professional (it’s not recommended to use only personal accomplishments in this essay). These stories should be pulled from the last several years; it is less helpful to present an accomplishment from when you were a child or teenager than it is for the admissions committee to see how you have worked towards and delivered something as an adult. Accomplishments that are hard to come by, where significant obstacles had to be overcome, are often the most compelling. And, don’t forget to share the impact with the reader. The SAR structure - Situation, Actions, Results - is the ideal way to model your story for this essay question. Describe a situation taken from your personal or professional life where you failed. Discuss what you learned. (400 words maximum) “Failure” questions were in vogue for a couple years; it seemed all the schools had one. Not so much this season; INSEAD seems to be one of the only schools asking for a story of a failure. Be very careful about attempting to re-purpose one of Harvard’s “setback” stories; in our experience, there are some radical differences that cannot easily be cut-and-pasted away. As you’d want to do in any such essay - and as INSEAD is asking directly - the key is to put enough emphasis on what you learned. This sort of self-awareness is what admissions officers look for when they ask a “failure” question. Ideally you will be able to describe a later time when you applied what you learned to a new situation and turned it into a success (or at least avoided a repeat failure). That’s the best way to demonstrate that you really, truly have learned from the experience, and can make for a very well-rounded presentation on the whole.

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a) Discuss your short and long term career goals. (300 words maximum) and b) How will studying at INSEAD help you achieve your vision? (250 words maximum) This is the standard goals question that you may encounter at many other schools. This is another one where an essay written for a different school might work as a foundation, but it almost definitely will need to be radically reworked in order to be effective for INSEAD. This essay needs to express your understanding for, and appreciation of, the very unique aspects of the INSEAD program, and demonstrate how those differences are going to help you achieve your goals. This requires an intimate understanding of the program. Failing to express this understanding is a common reason for dismissing an otherwise strong application. This essay is where you prove that INSEAD is a good fit for you.

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Please choose one of the following two essay topics: (250 words maximum) A. Have you ever experienced culture shock? What insights did you gain? B. Describe the ways in which a foreigner in your country might experience culture shock. This essay is where you prove that you are a good fit for INSEAD. This is a similar question to what London Business School has asked in past years, to “Describe any significant experiences outside your home country or culture.” These are questions that are designed to evaluate whether you’re ready for the truly international experience that these programs provide. An American going to school in London may face some culture shock, but at least there’s no language barrier. An American going to school in Fontainebleu or Singapore or Abu Dhabi is likely to experience culture on a whole different level. It may be possible to gain an offer from INSEAD if you have literally never left your home country, but it may be difficult in such a circumstance to prove to the admissions committee that you are prepared for the intense experience of their program. INSEAD also has two additional essays available, one for reapplicants to show how they have improved their candidacy in the time subsequent to first applying, and another to capture an explanation of any unusual circumstances not covered elsewhere. These are both standard to what other schools allow. Veritas Prep clients working on their INSEAD applications will receive expert guidance on each of these essay questions. Head Consultants help clients understand how to highlight strengths and weaknesses as well as unique elements within the confines of the question, while also addressing each of the key business school admissions themes. Furthermore, INSEAD Specialists will help clients decide whether to make use of the optional “anything else you have not mentioned” essay and will ensure that all essay responses are in keeping with what INSEAD is looking for in its applicants and that the program highlights included in this guide are used as appropriate reference points and examples.

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Admissions Criteria
Successful candidates to INSEAD’s MBA program have a track record of academic excellence and professional achievement. In addition, applicants must demonstrate an international perspective, highly developed communication skills, strong analytical and quantitative abilities, and the potential to succeed as business leaders. Most importantly, INSEAD students have lived, worked, and studied in a number of different countries and are comfortable engaging in an international environment. Languages English is the language of instruction at INSEAD and all students are required to be fluent. In addition, students must have a working knowledge of one additional language to be accepted to the MBA program and often should demonstrate at least a basic grasp in a third “commercially useful” language before graduation. INSEAD’s website provides information on which third-party exams are accepted as proof of language proficiency. Students may also take a language exam at the school to pass the language requirement. In general, it is easier to pass the language requirement by taking the school’s own tests than through a third party exam, which tend to be more rigorous. Language instruction is available during the MBA program through affiliated language schools in both Fontainebleau and Singapore. Applicants should determine if they will be able to meet the requirements before applying. GMAT or GRE Starting in 2011, INSEAD began accepting the GRE as well as the GMAT. Note that unlike other schools, it requests that all test scores be sent and disclosed on the application. Work experience INSEAD does not require work experience, however generally it finds a common range of 2 to 3 years of work experience as a minimum - and perhaps 8 to 10 years of experience as an upper limit for those who it feels will gain value from its program. There are no quotas or cut-offs in either direction however. Extracurriculars INSEAD is interested in knowing applicants’ hobbies and activities, however it weights community service quite low in its assessment. This is because the U.S. is the only country that puts such an emphasis on volunteer work. Most applicants to INSEAD do not have extensive volunteer “resumes” and so what might be seen as a weakness in a profile at an American school is a complete non-issue at INSEAD. Reapplicants INSEAD is unusual - and unusually blunt - in stating that it “does not encourage applications from previously rejected applicants.” They will accept a reapplication and review it, but they’re signaling is quite clear that your chances are slim. This is unlike other schools which are often reapplicant-friendly.

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Deadlines
INSEAD has two intakes - September and January - with three application rounds for each. The September intake has deadlines that closely pattern the major U.S. schools’ Round 1 and Round 2 deadlines in early October and early January. The round deadlines for the January intake start in the Spring. These rounds are the same for applying to either campus.

September 2012 (Class of July 2013) Round 1
Application Deadline September 28, 2011 Interview Decision Deadline November 4, 2011 Decision Release Date December 16, 2011

January 2012 (Class of December 2013) Round 1
Application Deadline April 11, 2012 Interview Decision Deadline May 18, 2012 Decision Release Date June 29, 2012

Round 2

Application Deadline December 7, 2011 Interview Decision Deadline January 13, 2012 Decision Release Date February 24, 2012

Round 2

Application Deadline June 20, 2012 Interview Decision Deadline July 27, 2012 Decision Release Date September 7, 2012

Round 3

Application Deadline March 21, 2012 Interview Decision Deadline April 30, 2012 Decision Release Date June 1, 2012

Round 3

Application Deadline August 16, 2012 Interview Decision Deadline September 14, 2012 Decision Release Date October 26, 2012

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When to apply?
With its rolling process, INSEAD is very unusual in that there literally is no advantage to applying in any particular round. A strong application coming in Round 3 will be just as well received as in Round 1. (This is not true at all schools.) Because of INSEAD’s clear bias against reapplicants, it’s critically important to make your first showing count. If you are at all hesitant when the deadline is approaching and unsure if you’re ready, Veritas Prep strongly recommends that you wait and take the time necessary to make your application perfect. With the two intakes and the rolling admissions process at INSEAD, there’s always another chance to apply coming up in a month or two, so if you don’t have everything ready when a deadline arrives, it’s best to take a conservative approach and hold off. Deferrals are rarely granted; applicants should be committed to attending in the intake to which they apply. If their preferred campus is already full, successful candidates may either enroll at the other campus or be placed on a waitlist for their preferred location. Applications are due at 23:59 PM (11:59 PM) Central European time on the dates noted above. Applications received late or incomplete will be pushed to the next round (or the next intake).

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INSEAD Students
Student Stats
Total INSEAD Enrollment....................................................... 1,131 Total full-time MBA Enrollment.............................................. 998 Percent Female ..............................................................................33% Percent Married..............................................................................28% Percent International .................................................................92%

Geographic Representation
Africa 3% Middle East 4% Latin America/ Caribbean 6% Eastern Europe & Central Asia 8% Oceania 2% Dual Citizenship 19%

North America 14%

Western Europe 41%

“INSEAD is fun. It’s probably the most fun you’re ever going to have in your life. The atmosphere is absolutely electric, and I think it probably has something to do with the fact that everyone’s from somewhere else, everyone’s out of their comfort zone, and in that kind of environment, you have to form friendships, not just networks, but friendships, really early on, to get through this crazy intense 10 months.” Cassandra Pittman, Assistant Director of Marketing, INSEAD

Asia 22%

Other Demographic Information
Average Age ........................................................................................28 Average Work Experience ........................................66 months 80% Range of Work Experience................36 to 96 months

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INSEAD Academics & Grading Policies
Teaching Philosophy
INSEAD does not have a preferred teaching method, and each professor is free to choose whichever method he or she deems most appropriate for the subject matter. In practice, most courses are lecture based, supplemented with case studies and team based assignments. INSEAD uses case studies developed by the school’s faculty, which are written with an emphasis on global business issues and cross-cultural management.

Class Organization
Both intakes of INSEAD’s 10-month MBA run concurrently on the Fontainebleau and Singapore campus. Applicants must specify on which campus they prefer to begin their studies. While admission decisions are not based upon campus preference, administrators sometimes push accepted students to begin in Singapore (the less popular of the two campuses), but ultimately the choice is left to the applicant - provided there is space available. In addition to the flexibility, the staggered classes maximize participants’ interactions with each other. Students study with their own class of approximately 450 people throughout the length of the program, combined first with the 450 students from the previous intake for five months, then with the 450 students from the following intake during the remaining half of the program. To make the class size more manageable, students are divided into sections of approximately 80 students each, and these sections remain together throughout the core instruction (Sessions 1 - 3). Sections meet daily Monday through Friday for approximately seven to nine hours a day, five days a week. This is required in order to cover all the standard MBA material in the shorter timeframe of just 10 months. All the slack is taken out of the standard MBA schedule, and the school is very upfront that students should expect to work 70 to 80 hours per week. Students are further divided into study groups of five to six people, with no more than two people from any one country or from the same industry background. Study groups typically meet to complete group assignments in the evenings for two or three hours and on weekends if necessary. These study groups can be challenging as students must reach a shared perspective in order to complete assignments; not always an easy mission given the divergent cultural, social, economic and political beliefs of team members. Students from the U.S. should be aware that the American perspective on business and global politics is not automatically accepted. However, much of INSEAD’s unique learning experience comes from these interactions, and MBA participants are expected to use their teammates’ perspectives as a way to evaluate and challenge their own assumptions and professional practices.

“INSEAD does not have a preferred teaching method, and each professor is free to choose whichever method he or she deems most appropriate for the subject matter.”

“Students are divided into sections of approximately 80 students each, and these sections remain together throughout the core instruction.”

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Core Classes
The first three periods are devoted to core courses in business fundamentals. Each section of approximately 80 students meets in the same amphitheatre daily for the duration of the core instruction, Monday through Friday for six to nine hours a day. The students stay in the classroom and the professors rotate in and out. The core courses are: Period 1

• • • • • • • • • • • • • • • •

Financial Accounting Financial Markets & Valuation Organizational Behavior I Prices & Markets (Microeconomics) Uncertainty, Data & Judgment (Statistics) Business Ethics Corporate Financial Policy (Corporate Finance) Marketing Management Organizational Behavior 2 Managerial Accounting Process & Operations Management Strategy Business Ethics International Political Analysis Macroeconomics in the Global Economy Business Ethics

Period 2

Period 3

Course Enrollment
Students are assigned professors for the core courses. MBA participants may get an exemption from a core course by sitting for the exam at the beginning of each Session. Students who are exempt from a core course select an elective to replace it. In general, there is always enough space in an elective course to accommodate demand and rarely are students unable to fully customize their MBA instruction after the core courses.

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Campus Exchange
A unique feature of the INSEAD MBA program is the opportunity to study on both the European and Asian campuses. Again, applicants to INSEAD must indicate on which campus they prefer to begin the program: Singapore or Fontainebleau. Campus selection does not influence admission decisions. After completing Session 1 and Session 2, MBA participants may spend any number of the remaining three Sessions on the other campus, and can switch back and forth as often as desired. The campus exchange is popular, with nearly 70% of students participating in the campus exchange (and Wharton exchange; see below). Assignments are made through a bidding system and it is generally easier to have a bid accepted to study for a single period than for multiple periods.

Wharton Collaborations
Wharton Exchange In addition to studying at INSEAD’s Fontainebleau and Singapore campuses, MBA participants may choose to spend either Session 4 or Session 5 at Wharton in Philadelphia. For the January intake, the Wharton exchange is available during Session 4 or Session 5 (September - October or November - December) and for the September intake, the exchange is available during Session 4 (March - April). An INSEAD Session is equivalent to one quarter at Wharton. The exchange is popular, with about 90 students trading places each year, and assignments are made through a bidding process. INSEAD students interested in working in the U.S. often time their exchange to coincide with Wharton’s on campus recruitment period. Since the program’s inception in 2001, more than 900 MBA students have participated in the exchange. The exchange program also provides for the exchange of faculty across the two schools and to date more than 60 faculty members have visited partners schools to teach or carry out research. Prices & Markets One benefit of INSEAD’s close relationship with Wharton is their collaboration: The simulations that students run in the Prices & Markets class at both schools was developed together.

“INSEAD students interested in working in the U.S. often time their exchange to coincide with Wharton’s on campus recruitment period.”

Grading Policies
INSEAD uses a forced curve, called the Z-Curve, in all classes to combat grade inflation. Grades for INSEAD courses are based primarily on exams with a mix of class participation and group projects, typically in an 80/10/10 split. Each year a few students are expelled due to low grades. While the atmosphere is tense around exam time-held every eight weeks after Sessions 1, 2 and 3-INSEAD students are distinctly uncompetitive and always willing to share their knowledge and expertise. The school has also adopted a grade non-disclosure policy, meaning that recruiters are forbidden to ask, and students cannot disclose, anything about academic performance. This policy is intended to give students freedom to experiment in classes they might otherwise be unwilling to risk, and it also levels the playing field for those who are looking to change into a career for which they have limited prior experience.

“The school has adopted a strict non-disclosure policy on grades, so recruiters and employers have no access to students’ academic records.”

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Notable Courses & Faculty at INSEAD
The INSEAD faculty features many prominent business leaders, researchers and teachers that come from more than 35 different countries and further reinforce INSEAD’s commitment to international diversity. Students do not select their professors for the core courses. However, among INSEAD students there are a handful of professors who are considered a “must” for electives during the remainder of the program, due to their reputation both as educators and as experts. This list isn’t merely a collection of famous names, but rather the instructors that INSEAD students deem to be essential for the full experience. These notable professors include: Renee Mauborgne (U.S.A.) & Chan Kim (S. Korea) These two professors are often mentioned in the same breath due to the pair’s groundbreaking work in the fields of Strategy and Innovation. Renee Mauborgne is Affiliate Professor of Strategy, INSEAD Distinguished Fellow of Strategy and International Management and Co-Director of the INSEAD Blue Ocean Strategy Institute. Chan Kim is Professor of Strategy and International Management, the Boston Consulting Group Bruce D. Henderson Chaired Professor of International Management and Co-Director of the INSEAD Blue Ocean Strategy Institute. Together, Professors Mauborgne and Chan wrote the international bestseller Blue Ocean Strategy: How to Create Uncontested Market Space and Make Competition Irrelevant, which sold more than one million copies in its first year of publication and has been translated into forty-one languages. Based upon the book’s success, INSEAD has established the Blue Ocean Institute in one of the most prominent buildings on the Fontainebleau Campus. As such, INSEAD has a great deal invested in the institute and the pioneering work of its founders. One of the MBA program’s most popular electives is the Blue Ocean Study Group that teaches students a new framework in which to view competition and harness the value unleashed by innovation. Manfred Kets de Vries (Netherlands) Clinical Professor of Leadership Development Professor Kets de Vries’ approach to leadership and the dynamics of individual and organizational change is as innovative and daring as the man himself. Professor Kets de Vries is a member of the New York Explorers Club and in his spare time he can be found in the rainforests or savannas of Central Africa, the Siberian Taiga, Australia’s Arnhem Land, the Pamir Mountains, or the barren wastelands of the Arctic. On the academic side, he is the author of more than thirty books, and his writings have been translated into twenty languages. MBA students get a new perspective on leadership through Professor Kets de Vries’ dazzling synthesis of international management, psychoanalysis and psychotherapy. His students rarely see leadership in the same way after attending one of his classes. Linda Brimm (U.S.A.) Emeritus Professor of Organizational Behavior INSEAD students tend to speak lovingly of Dr. Brimm, who is known for her insight into organization behavior and management. Dr. Brimm sees INSEAD’s MBA participants as people first, and students second. Trained as a clinical psychologist, she has conducted crosscultural research examining the complexity and development of people’s careers over time, and is available outside the classroom to any MBA participant who needs help defining their future course. Dr. Brimm’s total lack of stuffiness is also highly valued by INSEAD’s students, as she unswervingly seeks out new ways to think about what is on every MBA student’s mind: professional development. Her current research centers on a study of identity development and the reaction to life changes in the next generation of global leaders, and the innovative use of narrative writing and analysis as a tool in professional and personal development. Enrico Diecidue (Italy) Associate Professor of Decision Sciences Enrico Diecidue joined the Decision Sciences department at INSEAD in 2001 and has remained one of the MBA program’s favorite professors ever since. Young and very charming, Enrico - as all his students call him - can make any subject interesting and accessible. You should count yourself lucky if you are able to get him as your Statistics professor. Enrico is one of the very few faculty members regularly invited to student parties, which is a testament to how “cool and fun” he is. His genuine interest in his academic field and his insistence that it can be readily understood by any INSEAD student continue to make him a standout professor.

“Professor Kets de Vries is a member of the New York Explorers Club and in his spare time he can be found in the rainforests or savannas of Central Africa, the Siberian Taiga, Australia’s Arnhem Land, the Pamir Mountains, or the barren wastelands of the Arctic.”

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David Young (U.S.A.) Professor of Accounting and Control David Young is nobody’s fool and he wants to make sure that MBA participants in his Accounting course don’t become anyone’s fool either. His approach to Accounting can be neatly summed up in the title of his book, Profits You Can Trust: Spotting and Surviving Accounting Landmines. Going beyond the mechanics tallying your cash flow statement with the balance sheet, Professor Young instills in his students a real appreciation for the value of accounting as an investigative tool by providing concrete advice on how to uncover misleading accounting practices. Professor Young is an expert on developing economies and devoted much of his efforts throughout the early and mid-1990s to Central and Eastern Europe. Pierre Chandon (France) Associate Professor of Marketing Perhaps not surprising for a Frenchman, Professor Chandon’s research centers around how perceptual biases influence food consumption decisions. But make no mistake: having lived in the U.S. and taught at Wharton, Professor Chandon’s approach to marketing is informed by an excellent grasp of both French and American culture. His declaration that most people choose a wine based on the label demonstrates a willingness to challenge cultural truths: a hallmark of the INSEAD MBA program. His course in Brand Management - in which he uses his own awardwinning case studies - is amongst INSEAD’s most eye-opening and entertaining electives.

“Going beyond the mechanics tallying your cash flow statement with the balance sheet, Professor Young instills in his students a real appreciation for the value of accounting as an investigative tool by providing concrete advice on how to uncover misleading accounting practices.”

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The INSEAD faculty is divided into 9 academic areas
1. Accounting and Control 2. Decision Sciences 3. Economics and Political Science 4. Entrepreneurship and Family Enterprise 5. Finance 6. Marketing 7. Organizational Behavior 8. Strategy 9. Technology and Operations Management

INSEAD Business Plan Competitions
INSEAD holds only one business plan competition, a bi-annual event run the by school’s Entrepreneurship Department. The competition is open to all MBA students. However, the majority of entries come from students who take the Business Plan Workshop elective. The winning plan is provided with financial assistance and incubator/support facilities on INSEAD’s Fontainebleau campus.

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APPENDIX GMAT Statistics
Admissions to INSEAD is definitely a competitive process, however not completely tied to the standard dimensions of GMAT and GPA that other schools focus on. INSEAD also does not disclose the same level of data on its students and overall admissions statistics as many other schools do. Average GMAT score...........................703 80% GMAT Range........................680-760

Visiting INSEAD: Fontainebleu and Singapore
One of the best ways for candidates to truly understand if INSEAD is a proper fit is to visit a campus and get a feel for the academic environment, student life, and overall campus culture. Visiting the school offers the opportunity for face-to-face contact with current students, professors, and admission representatives. INSEAD offers a variety of ways for candidates to come and experience the school for themselves: In-House Events INSEAD holds In-House Events seven times a year at both the Fontainebleau and Singapore campuses. These include a tour of the campus as well as a presentation on the MBA program, the admissions process and INSEAD’s Career Services department. The In-House events also include a Master Class conducted by a member of INSEAD’s faculty, followed by an opportunity to meet current students and MBA staff. Information Sessions In addition to the In-House events, INSEAD hosts weekly Friday Information Sessions on both the Fontainebleau and Singapore campuses. The Friday Sessions consist of a campus tour, a presentation on the MBA program and the opportunity to attend a lecture. Information sessions are held every Friday at 2 p.m. and last approximately an hour and a half. No reservation is required. Visitors can simply show up. Outreach Events Throughout the year, INSEAD conducts information sessions in major cities around the world, though with the economic crisis, travel at all schools has been more restricted. This may start to change again as the world’s economies improve.

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INSEAD and Social Media
As a non-U.S. based program, INSEAD has long had to rely on less traditional and more creative ways of getting the word out about their strengths and differences. In order to be a global program, it must do significant global outreach, as it is not common for foreign prospective students to visit campus. With the economic downturn, travel budgets were slashed at most major MBA admissions offices, yet the schools still had to find the most qualified candidates to fill their classes. INSEAD rose to this challenge by embracing social media more than some of its peers, seeing it as a cost-effective way to get their branding out into the market and interact with potential applicants. INSEAD even has a directory page on its website prominently featured, with links to all its social media channels. • Facebook - http://www.facebook.com/insead - INSEAD is quite active on Facebook and its Wall has many interesting announcements, some of which are duplicates which are also cross-posted to other channels Twitter - http://twitter.com/inseadmbateam - Interesting tidbits from INSEAD admissions including status updates as they move through their round evaluations; this Twitter stream is worth following. The school also has a separate Twitter stream capturing school-specific events and announcements: http://twitter.com/mbaexperience YouTube - http://www.youtube.com/insead#g/c/88AED17F8FA46DBA - INSEAD is a very prolific producer of video content, with a variety of offerings on pressing issues of the day from economic concerns about the euro to healthcare to China. iTunes - http://itunes.insead.edu/ - INSEAD features free audio content on iTunes including interviews with faculty and conference material INSEAD Blog - http://the-insead-mba-experience.insead.edu/ - Contains irregular posts from current students, a selection of faculty, and admissions staff. The INSEAD Website - http://www.insead.edu - contains a lot of information, though as with other schools, it may require digging to uncover the details (and the pages may load slowly for some U.S. users). Virtual Tours Prospective students can attend a virtual information session through Second Life - and INSEAD is the first major business school to embrace virtual reality. The agenda includes a presentation on the MBA program, a Q&A session and the opportunity to chat informally with MBA staff and fellow applicants.

Contact Information
[email protected]

Europe Campus
Boulevard de Constance 77305 Fontainebleau Tel: +33 (0)1 60 72 40 00 Fax: +33 (0)1 60 74 55 00

Asia Campus
1 Ayer Rajah Avenue 138676 Singapore Tel: +65 6799 5388 Fax: +65 6799 5399

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And of course the Veritas Prep Blog is an active resource for MBA information and targeted admissions strategies, available for free and updated every weekday.

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Costs & Financial Assistance at INSEAD
Estimated Expenses
Living expenses for INSEAD’s two main campuses are detailed below. Both the January and the September intake last for 10 months, with a summer break of two months for students in the January intake (or 12 months duration for the January intake). Campus exchanges typically take place in Sessions 4 & 5.

Tuition and Cost
These estimates provided by INSEAD are for September 2011 and January 2012 intakes. Tuition:...........................................................€56,000 Additional Academic Expenses..................................................... €3,900* Language Course Fees (optional): ............................................. € 500 *Includes books, student council fees and a laptop, if needed

Singapore
Accommodation:......................................................................................€6,000 - €11,000 (average €8,500) Meals:.....................................................................................................................................€4,700 Local Transportation:.................................................................................... €500-€1,500* Telephone:............................................................................................................................. €750 Personal Insurance:............................................................................................€200 - €700 (average €500) Miscellaneous (excludes leisure):..........................................................................€1,500 Hardware/software:......................................................................................................... €800 Travel for exchange program and Job Search (optional): ....................€2,000 *Students on the Singapore Campus primarily use public transportation

Fontainebleau
Accommodation: ....................................................................................€6,000 - €10,000 (average €8,700) Meals: ....................................................................................................................................€5,000 Local Transportation: .............................................................................. €1,800-€6,000* Telephone:............................................................................................................................. €800 Personal Insurance: ..........................................................................................€200 - €900 (average €500) Miscellaneous (excludes leisure): ........................................................................€1,500 Hardward/software:........................................................................................................ €900 Travel for exchange program and Job Search (optional): ....................€1,900 *Students at the Fontainebleau Campus typically lease a car at a cost of approximately €4,500 for the year. Information on how to lease a car in France is provided by INSEAD upon acceptance to the MBA program. If your French is good, you can save money by leasing a car directly from Peugeot.

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INSEAD presents the following options for exploring financial assistance: INSEAD Merit-Based Scholarships INSEAD provides a limited number of merit-based scholarships. No additional application is required for the following: • INSEAD Weston Scholarship: All admitted candidates will be considered on the basis of merit as per the quality of their admission application. Two awards are granted per class of up to €15,000. INSEAD Louis Franck Endowed Award for Excellence: One award will be made per class to the most outstanding applicant, as determined by the school, as per the quality of their admission application. All admitted candidates will be considered. The award is for US$10,000. INSEAD Admiral Scholarship: One award of €15,000 is awarded per class. All admitted candidates will be considered on the basis of merit as per the quality of their admission application.

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INSEAD Need-Based Scholarships & Grants The majority of scholarships available to MBA candidates are awarded based on need, as well as on various criteria ranging from nationality, gender, professional background, leadership abilities and previous field of study. Some of the largest include: • INSEAD Alumni Fund (IAF) Robin Hood Scholarship: Awarded to candidates admitted to the INSEAD MBA program who can justify difficulty in raising finances for their studies. One award of €10,000 is given to a participant from each class. INSEAD L’Oreal Scholarship: Candidates of any nationality who demonstrate a capacity for creativity and innovation through diversity and entrepreneurial activity. The amount of the award varies, but can include partial tuition. INSEAD Alumni Fund (IAF) Diversity Scholarship - ‘86D: One award of up to €10,000 is granted per class. This scholarship fund was created by INSEAD class of ‘86D. It is awarded to participants with a not-for-profit background or a demonstrated exceptional personal commitment to not-for-profit work. INSEAD Alumni Fund (IAF) Women’s Scholarship(s): 0-15 awards per class ranging from € 5,000 to € 15,000 awarded to female participants who have made significant achievements in their professional and/or personal lives. INSEAD Andrew Hordern Endowed Scholarship - ‘91D: Approximately €10,000 awarded to a participant of each class from a non-traditional background: performing artists, journalists, architects, medical practitioners, military, lawyers, research scientists, not-for-profit, etc. This scholarship was created by the INSEAD class of ‘91D. INSEAD Andy Burgess Endowed Scholarship for Social Entrepreneurship: Awarded to candidates who demonstrate experience or commitment to social entrepreneurship. One award of €10,000 is given to a participant in the January intake. INSEAD ifs/Henry Grunfeld Foundation Scholarship: Awarded to candidates with a UK background with an interest in pursuing a career in investment banking. Award in the amount of €12,500 given to a participant from each intake. This scholarship is currently administered by ifs (the Institute of Financial Services).

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INSEAD How 2011 Graduates Financed Their INSEAD MBA Company Sponsored: .................................15% INSEAD Scholarships: ..................................17% Loans & Savings: .............................................67% External Scholarships: ....................................1%

For U.S. students, INSEAD recommends the following: Federal Stafford Loans - The maximum amount of a subsidized Federal Stafford loan is $8,500 ($12,000 for an unsubsidized Loan). The Stafford loan interest rate is fixed at 6.8%. Federally mandated origination fees of up to 3%, depending on the lender, are deducted from your loan checks at disbursement. To apply for a Federal Stafford loan, borrowers are required to complete a Free Application for Federal Student Aid (FAFSA) on-line. Federal Plus Loans - The maximum amount a student can borrow through the PLUS program is the Cost of Attendance (COA), as determined by the school, minus any Stafford loans, minus any other aid. PLUS loans have a fixed interest rate of 8.5%, although many major lenders are offering reduced interest rates. A 3% origination fee is mandated by law on all PLUS loans. To apply for a Federal Plus loan, borrowers are required to complete a Free Application for Federal Student Aid (FAFSA) on-line. Private Loans through SallieMae - To help finance tuition and living expenses while attending INSEAD, participants can apply for private loans through SallieMae. Applications for Federal Stafford and Plus loans can also be made through SallieMae. The amount of private loans through SallieMae is based on the tuition fees plus estimated living expenses (less any financial aid received). Competitive interest rates are tiered based on an applicants credit rating, so the better your credit, the lower your interest rate. If you apply with a co-borrower, your rates and fees are based on your co-borrower’s credit. Bank of America Alternative Loan - Visit the Bank of America website for further details. National City Bank - National City Bank offers both federal and private loans. Check the company website for more details.

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Student Organizations
Student organizations do not play a large role in the INSEAD MBA experience given the fast pace of the accelerated program and the distributed locations. Just with academics alone, INSEAD students have a full schedule of lectures, group projects, and personal study time, leaving little room on the calendar for extracurriculars. Only about 15 clubs and student organizations currently exist on campus. Some of the most active are: • • • • INSEAD Women in Business INSEAD Private Equity Club OUTSEAD: Lesbian, Gay & Bisexual Community INSEAD Rugby Club

However, that doesn’t mean that campus life is dull. Far from it. INSEAD’s National Weeks are a mainstay of an MBA participant’s social life and guarantee that there is always something to do. National Weeks are arranged by students from each country and are intended to showcase their national culture, music, food and pastimes. What these events often turn into is a chance for students to come together for drinking and dancing in one of the area’s many private chateaux. National Weeks are usually sponsored by a variety of companies from the student’s home country and a healthy competition exists to raise the most money and outdo the previous nation’s festivities.

“In a typical year, INSEAD will have an even split of 30% of graduates into consulting, 30% into finance, and 30% into industry.”

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Professional Recruitment at INSEAD
Career Development Resources
INSEAD is recognized by companies worldwide as a key source for individuals with proven academic excellence, strong managerial potential, and an international perspective on business. The MBA Career Services team assists both companies wishing to recruit at INSEAD and MBA participants as they develop their job search strategy. Career Management. Career Management begins almost from the first day of the MBA program. Periods 1 & 2 are devoted to self-assessment tests, career counseling sessions, investment banking workshops and resume preparation. Period 3 focuses on company research, job-hunting skills, networking events, industry discussion panels and career development workshops. On- and off-campus recruitment, interview preparation and salary negotiation skills take place in Periods 4 & 5. The recruitment period begins with three weeks of company presentations in the evenings, after course lectures. Interviews are held on campus or in local hotels, and sign-ups are coordinated through INSEAD’s on-line interview scheduling system. State-of-the-art telecommunications enable students on both campuses to watch company presentations and interview with recruiters by videoconference. INSEAD’s students who participate in the Wharton exchange may also take part in Wharton’s on-campus recruitment. MBA Job Postings. Specific career opportunities and summer jobs are posted on-line at INSEAD’s dedicated job database: CareerLink. Students may also access job listings from Harvard, Stanford and Kellogg as part of INSEAD’s reciprocal agreement with the MBA Career Services at these schools. Resumé Books. INSEAD’s Career Services office publishes a resume book of all MBA participants, which is available both online and in hard copy. Resume books are an important tool for both prospective recruiters and for MBA participants who wish to reach out to alumni in their prospective fields. Summer Internships. Students beginning in January have the option of using their 8-week summer break for employment. Alumni Network. INSEAD’s 32,000 alumni live in over 150 countries across all continents, giving a breadth and depth that is unmatched by the alumni networks at INSEAD’s peer schools. A majority of alumni are members of the INSEAD Alumni Association with its 40 national alumni associations. Alumni can connect online through a dedicated website called INSEAD Connect which allows participants to search for alumni across countries, industry sectors, interest and more. There are websites for each class where alumni post messages, exchange files and share photos. INSEAD’s dedicated job database - CareerLink - can also be accessed by alumni through INSEAD Connect.

Career Management Center
INSEAD’s dedicated MBA Career Services is fully integrated on both the Europe and Asia campuses. On Campus Interviews INSEAD organizes three recruitment campaigns per year: 1. January - February Summer internships for December graduates 2. March - June Full-time positions for July graduates and summer internships for December graduates 3. September - December Full-time positions for the December graduates

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Employment Statistics
INSEAD graduates work in a variety of industries, functions, and locations. Note that it is very much a “consulting school,” which stands in contrast to the London School of Business, which places most of its graduates in finance professions. Industry
Media/Entertainment 1% Travel/Leisure Services 2% Primary Industries 2% Corporate Services 2% Energy 3% Manufacturing 4% Public Sector/Social Impact 4% Technology/ Telecomm 8% Pharma/ Healthcare 8% Consumer/Luxury Goods 8% Financial Services 17% Transportation 1% Advertising/Publishing 1% Construction 1%

Consulting 39%

Function
Production/Operations 2% Rotational Programs 3% Marketing/Sales 11% Technology Management 2% Other 8%

General Management 10%

Consulting 39%

Finance 14% Corp Planning/Bus Devpmt 11%

Location

Central/Eastern Europe 7% Africa/Middle East 10% Southern Europe 12%

Latin America 6% Northern Europe 1%

Asia Pacific 27%
North American 13% Western Europe 24%

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Major Employers
Major companies across the globe recruit INSEAD graduates and many of the most common employers are similar to those that recruit at other top business schools. The following have been frequent employers for graduates of INSEAD in recent years: • • • • • • • • • • • • • American Express A.T. Kearney Bain & Company Barclays Bank Boston Consulting Group Booz & Company Credit Suisse Group Google Johnson & Johnson McKinsey & Company Morgan Stanley Standard Chartered Bank UBS

Salaries
Mean Salary...................................$110,700 Median Salary..............................$110,900 Median Signing Bonus............. $21,200

Source of Job Offers
School Facilitated...................................50% Graduate Facilitated..............................50%

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Veritas Prep and Your INSEAD Application
Veritas Prep has a distinguished track record helping our clients gain acceptance to one of the world’s truly elite business schools. The secret to our success, as always, is in first ensuring that INSEAD is a proper fit for the client, and then assisting the client in expressing that unique fit in the most articulate and impactful way possible.

Our Team
As with the Veritas Prep consultants to other elite business schools, our team of INSEAD consultants includes former admission representatives, alumni interviewers, members of influential student groups, and, of course, accomplished professionals in a variety of fields. With multiple INSEAD consultants on our admission consulting team, we are able to provide customized service to clients based on background, timing, and logistics. Our INSEAD consultants have career experience in a variety of industries and functions. Each client who works with Veritas Prep on an INSEAD comprehensive package receives a customized team of consultants: a Head Consultant and an INSEAD Specialist. Head Consultant. All of our Head Consultants have experiences as admissions representatives that afford each of them a unique perspective on the applicant pool and how candidates must position themselves to express proper fit and to stand out in an increasingly competitive process. The Head Consultant will guide the client through every step of the process: from the initial Diagnostic Session to submission of the application. INSEAD Specialist. Every comprehensive package client will also receive input from a INSEAD Specialist who is either a current student or a recent graduate. Specialists provide insider information about the program they attended to ensure that you demonstrate school fit. In addition, they offer valuable insights about how to stand out from your competition. If you select a INSEAD school package or choose to work with a specialist on an hourly basis, our team will ensure that your application components are perfectly tailored to INSEAD. For more on Veritas Prep’s incredible team and the individuals who serve as our INSEAD consultants, please visit the Consultant Profiles page of our website.

“This is just a quick note to let you know that I have been admitted to the INSEAD class of July 2010. I appreciate all the time you guys put into my application as well as your helpful feedback. INSEAD, having been my first application, was particularly difficult and the fact that I received an admission offer is a testament to your dedication and effort.” Hamed Modabber

Our INSEAD Services
The INSEAD School of Business is often a popular choice among our clients due to its reputation as one of the very best global MBA programs. The Veritas Prep process consists of a step by step methodology to walk you through an exploration and discovery of your strengths in order to best position them for this competitive school. Diagnostic Session. Our Diagnostic Session - the first step in our comprehensive packages as well as a stand-alone service - assures that your goals and prospects are properly aligned. After discussing the reasons behind seeking an MBA, we start building a strategy specifically tailored for an INSEAD application. Personalized MBA Game Plan. Your Head Consultant creates a Personalized MBA Game Plan, a strategic approach based on your professional, academic, and personal history. Those elements become the foundation of the INSEAD application story, allowing you to demonstrate leadership, innovation, maturity, teamwork skills, analytical ability, and potential for academic excellence. A major component of the Game Plan is the identification of your strengths and weaknesses - as well as truly unique qualities - relative to the INSEAD applicant pool. This creates an application platform from which to work and will help mold and shape your strategy for how to address application components such as the resumé, essays, and letters of recommendations.

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International Background. Successful applicants to INSEAD must demonstrate that they have the necessary international background to contribute to the global learning environment that INSEAD works continuously to create. Applicants should weave this theme into as many of the essays as possible, and highlight all the aspects of their background - academic, personal, professional - that demonstrate an understanding of the value of international diversity and the ability to succeed in cross-cultural environments. Most INSEAD students have extensive experience across all three of these parameters from having lived, worked and studied in a number of different countries. As such, INSEAD is not assembling an MBA program of “foreign” students, but individuals who have experience across cultures. However, it is not absolutely necessary to have had international professional experience. Successful applicants can demonstrate that they would thrive in an international environment through a discussion of their academic and personal experiences outside of their home country. Keep in mind that international travel alone is unlikely to be sufficient. INSEAD’s language policy ensures that MBA participants are more than well-traveled tourists. All applicants must speak English and one foreign language to be admitted, and demonstrate the ability to speak a third upon graduation. Our approach to the INSEAD application is to think as broadly as possible about what it means to have a global perspective and to help applicants find the right combination of experiences that best demonstrates their capacity to appreciate and contribute to INSEAD’s unique international diversity. Maturity. INSEAD’s accelerated 10-month MBA program is intense and the admissions committee needs to ensure that participants have the capacity to keep up with the pace. As such, INSEAD tends to accept older, more experienced applicants who demonstrate a high level of maturity. Maturity is assessed both through personal and professional accomplishments as well as the level of introspection a candidate demonstrates in his or her application materials. The ability to clearly outline goals, assess personal strengths and weaknesses, and articulate what you stand to gain from INSEAD’s MBA program, are all elements applicants should use to reveal their maturity. INSEAD is aware that the program is about more than time spent in the classroom. MBA participants go flat out during their time at INSEAD filling their days and nights with as much learning, socializing, travel and cultural experiences as possible. INSEAD values high-energy candidates who demonstrate that they can take on as many of life’s opportunities as possible and possess the maturity to benefit from these experiences without being overwhelmed. Balance and Perfection. Once the themes of innovation and team achievement have been installed as the backbone of the INSEAD application, the Veritas Prep Head Consultant will ensure that all of the questions have been properly answered, that the resumé has been crafted with style and efficiency, and that all of the key business school themes have been addressed in a balanced way throughout the application. It’s not easy applying to one of the most popular schools in the world, but our consulting teams ensure that Veritas Prep clients give themselves the best chance of admissions success through the most accurate, engaging, and persuasive portrayal of their candidacy that they can possibly create. This is true of our approach to all schools, but particularly at INSEAD, where the theme of innovation must resonate so strongly and consistently throughout the application.

“Your Head Consultant creates a Personalized MBA Game Plan, a strategic approach based on your professional, academic, and personal history.”

“Successful applicants demonstrate how they would thrive in an international environment through a discussion of their academic and personal experiences outside of their home country.”

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About Veritas Prep
Founded in 2002, Veritas Prep has emerged as a global leader in GMAT® education and MBA admissions consulting. The company’s business school team includes more than 300 graduates of the world’s elite MBA programs, managed from its headquarters in Malibu, California. The Veritas Prep consulting model is built on adding value to a student’s application process by providing both mentorship and expertise. The business school admissions process has become increasingly competitive and applicants must do everything possible to showcase their value. Our consultants assist applicants in presenting their unique stories in the most professional and meaningful way possible. In a sense, our consultants are translators - helping an applicant discover raw materials and information and then helping that candidate articulate a unique story in a language that admissions committees understand. More than anything, Veritas Prep gives candidates a sense of ownership and control over the process. Quality of work, attention to detail, care for the student, and integrity are the lynchpins of a successful consultation. In addition to elite MBA admissions consulting services, Veritas Prep also offers the finest GMAT preparation available in the industry, as well as admissions consulting for law school, medical school, and graduate school programs. For comprehensive information on all of Veritas Prep’s many services, please visit our website.

“Success Favors the Prepared“

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