Sl. No. Topic Page No.

1 Considerations for European B- 1-4

Schools(Complete Guide

2 ESMT Berlin 4-5

3 Post MBA Career in Germany 5-7

4 Harvard Business School 8-11

5 Stanford Graduate School of Business 11-13

6 No GMAT MBA 14-15

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 Considerations for business schools in Europe

A general overview of business schools in Europe

The scope of this write-up covers the general trends of business schools in Europe. I
stress again that key facts, average figures, and other claims are from highly
subjective sources. I have focussed on broader themes of the business schools in
Europe, such as the extant cultural and business trends, employability, and the key
differences between them and their North American counterparts. Some figures and
facts from the previous document have been retained, in order to provide a more
comprehensive overview.

The crux of the matter:

Business schools across Europe have seen an inflation in both the number of
International students that apply to them, and in the number of the programmes
that are on offer. With respect to the institutions themselves, a lot of European
programmes are relatively cheaper, offer quicker employment (in terms of sheer
numbers and the frequency of jobs), are more ethnically and culturally diverse, and
have different teaching philosophies. The average GMAT scores required to gain
admissions, are also relatively lower. The average acceptance rates are higher in
Europe at 31%, when compared to 11% in the U.S.A. 61% of MBA students at
international European programmes pro-actively recruit women, entrepreneurs, and
business owners. It is also noteworthy that despite this claim, women have an overall
lower representation in the student body.

Europe boasts of the world’s highest average ROI for MBA graduates at USD 0.67
Million, at the 10-year mark and of USD 2.9 Million, at the 20-year mark. Further,
graduates from business schools in Europe can recoup their expenses in an average
duration of 30 months. It is observed that their average salary increased by a factor
of 85%, from what it used to be pre-MBA. In Europe, as it is globally, it can be
inferred that a lot of the conventional pedagogical methods, modes of learning,
environments, are some parameters, that must adapt to the global industries which
leverage technology. This change is reflected in the programmes offered by many
schools, but they are largely missing from the other facets of this change. As big data,
AI and machine learning, virtual reality, and 3D printing grow, they can become
powerful tools that stimulate growth.For admission, the average academic
requirements are as follows. A CGPA of 3.0 out of 4.0 (or it’s equivalent in other
curricula). The average GMAT score required is in the range of 500 - 600. Excellent
language skills are expected from the candidates. The average work experience
required is in the range of 2 - 3 years, but here, there are conflicting pieces of
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information that claim that the average work experience of MBA applicants in Europe
is greater than that of those in North America, which, as the research suggest is
around 5 years. Thus, this is at best, unclear. The average class size is in the range of
90 - 150 students across one or more sections.

The U.K., France, and Spain, are the countries with the top-tier institutes, while some
Italian, Danish, and German institutes also seep through in to the top 50 rankings
consistently. These rankings must be viewed with skepticism as some business
schools are considered to better for certain specializations, even though they are
ranked lower, and an informed decision can be made only through rigorous enquiry.

Other informal sources claim that the percentage of international students studying
in business schools across Europe, is higher than that of the students in the U.S. It
was observed that out of the 59 business schools worldwide that possess a triple
accreditation status, about three-fourths or 45 (approximately) are situated in
Europe.

With reference to the top schools; I have tried to focus on what makes the schools
different from one another:

1. INSEAD, France:

59% percent of the students were Internationals. 29% percent of those were from
the Asia-Pacific region. INSEAD’s in-house career development services enable their
students to be promoted and marketed to prospective employers. They also aid the
students in developing their skills-set and networking. A lot of insights gained from
going through their website lead me to conclude that INSEAD has a recruitment
culture of hiring individuals from non-traditional backgrounds, if these claims are to
be taken at face-value. Their teaching methods include case studies, lectures, P2P
learning, simulations, mock plays, and comprehensive tutorials.

2. HEC, Paris:

Among some of the services that promote career advancement at HEC Paris are self-
assessment tools, one-on-one career coaching, access to alumni, recruiting events, to
name a few. They claim to have a student body that is 92% international. The
curriculum is 12-months long and is imparted to pedagogical methods, and also as a
final project, in two deliverables. The first is the issue statement which should
capture the strategic significance of the project, both for decision-making and for the
individual. The second deliverable is the final report which should discuss and
document the findings as well as provide the student's strategic recommendations.

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3. London Business School:

It is possible for candidates to opt for a flexible curriculum, by which they can choose
to complete the core of the coursework within 15, 18, or 21 months. They also offer
an international exchange programme with 30 partner schools, of which, the
candidate may choose the one they like.

4. Oxford (Said):

Case-based learning is imparted and is at the heart of the Oxford pedagogy. The
demographics claim a total representation of 13% percent of student from the South
- Asia region. They interleave the options of doing a summer internship along with
doing a strategic consulting project in a team, from a corporate sponsor.

5. IE Business School, Spain:

45% of the syllabus is customizable. Students have a choice when it comes to

choosing their labs, apart from the elective subjects themselves. Finally, there is also
the option of extending the length of the programme, under their “IMBA Unplugged”
scheme. Furthermore, they also offer a dual degree which is the International MBA
with a Master’s in Business Analytics and Big Data.

ESMT BERLIN

Full Time MBA Programme:

Statistics from the class of 2018:

1. 68 students in the class.

2. Average work experience of 7 and a half years.

3. The average required GMAT score is 640.

Total Tuition:

INR 36,33,555/- (€ 43,500)

The tuition fees may be reimbursed by way of being tax-deductible, as the tax laws in
Germany allow for this. Citations are needed to ascertain this, as it was only vaguely
mentioned on the website.

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Finance:

A number of scholarships are available to students. They range from being available
on the basis of academic merit, to bringing socio-political advancement (30% Club &
Women’s Scholarship which is valued at INR 15,87,070).

Third-party scholarship programmes are also available.

Careers:

According to their website, ESMT organises a career fair to which a lot of

conglomerates and MNCs are invited. They are meant to attract candidates. They are
given the list of candidates from which they are to choose the ones they like for
interviewing and further shortlisting.

Job Posting platform:

This is a platform for ESMT students. Companies can post jobs with all the pertinent
information, thereby allowing students to reach out to them directly.

Notwithstanding campus interviews, there are other facets of employment services

and tie-ups to organise recruitment drives within the management itself. From the
information gleaned, it seems like the employment services that are offered by ESMT
are the modus operandi of this school.

Post MBA Career Trends in Germany

Specifically with relevance to the Indian context.

Work opportunities in Germany post MBA graduation is found to be not as well

renowned as a degree as it is from their American counterparts. This does not mean
that it holds less value. The schools that were found to be the most sought after -
ESMT, Berlin and Mannheim Business School.

The work culture in Germany:

The information rounded up through my research can broadly be categorised into

two. The first section focuses on the Indian context, although, the compiled
information is from highly subjective sources.

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To expound the first:

With reference to the many subjective sources:

1. The German language is of paramount importance. A predominant share of

companies prefers candidates who speak German. The recommended level of
proficiency required was found to be at least of level B2 (Goethe Zertifikat B2 -
German Language Level).

2. Most German companies are hard-lined when it comes to hiring individuals from
outside their specific domain of specialisation.

3. Managers prefer prospective graduates who have worked in competitive

environments for the period of completion of their internship or, apprenticeship as a
consultant. They also prefer candidates who have had hands-on experience in
dealing with the business.

4. By all accounts, there seems to be no preference in terms of nationality when

hiring candidates.

5. Students can stay in Germany for a period of one year to one-and-a-half years post
completion of their MBA. (Citations needed)

6. Salary levels of Indians who complete their MBAs and seek out employment in
Germany - An average of 60 Thousand to 90 Thousand Euros.

7. Most class profiles generally hover around having had 80 students per class or
programme, which is much lower than that of schools in the U.S.A., thereby allowing
for clearer interaction, although it may be argued that both scenarios have their
pitfalls.

8. Tuition fees were generally found to be lower than that of schools in the U.S.A.,
ranging from 20 Thousand to 40 Thousand Euros.

To expound the second:

Source: 1www.f1gmat.com, 2http://www.feaco.org/sites/default/files/Feaco

%20Survey%202010-2011.pdf (Survey 2010 - 2011),
3
https://www.statista.com/statistics/460525/ict-market-market-volume-germany,
4
https://www.topmba.com/system/files/pdf-
uploads/qs_topmba.com_jobs_salary_trends_report_2018.pdf

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1. The export industry in Germany is the 3rd largest in the world. This, in-turn
translates to a large number of work prospects.

Job figures by Industry:

Consulting is a top sector in Germany. The market valuation was at 26.5 Billion
Euros2. Business consulting dominates the sector at 15 Billion Euros2. The top
Business Schools responsible for churning out candidates for this sector - ESMT and
Mannheim Business School. The consulting sector also has the largest market share
in Europe at 32.3%, followed by the U.K. At 22%. At ESMT, Berlin - 30% of the class
hired by firms were for this sector. At Mannheim Business School - The figures were
similar.

In the Finance Sector, Deutsche Bank is an exemplary financial tycoon, known

worldwide, with net profits that amounted to 13 Billion Euros. At ESMT, Berlin - 20%
of the class chose the financial sector while 16% chose Insurance. At Mannheim
Business School - 13% chose this sector, being the third most popular option.

The ICT sector in Germany, despite being the fourth largest of the world, and
contributing to over 40% of the total economic growth in Germany, had just 6% of
ESMT graduates. Although, it is interesting to note that this number has jumped to
35% starting in 2017. The total valuation of the ICT sector is at 164 Billion Euros 3.

Salary Trends:

My observation is that the salary trends in candidates who opt to come back to India
after their studies has been generally lower that what they would have been offered
overseas.

1. MBA Salary Levels in the Asia - Pacific Region: USD 71, 300 (2017).

2. Total MBA Compensation in the Asia - Pacific Region: USD 85,900 (2017).

3. Worldwide salary ranking:

India - Rank 12 - An overall salary of USD 76,300.

Germany - Rank 10 - An overall salary of USD 94,100.

Finance - USD 97,100.

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 Harvard Business School

Enrolments: 938 | Applicants: 9228 | Acceptance Rate: 10.16 %

50% of HBS students are eligible for need-based scholarships.

Tuition Cost (per year): $73,440

Average Age: 27

GMAT given by 80% of the batch

Median Verbal 41
Median Quantitative 48
Median Total 730
GRE given by 20% of the batch
Median Verbal 163
Median Quantitative 163

International Students: 37% (14 % from Asia)

Average Work Experience: 4.7 years

Eligibility:

 A GMAT/GRE Score appeared before the deadline.

 A 4-year undergraduate degree or its equivalent / An international 3-year
undergraduate degree
 TOEFL, IELTS, or PTE test results are required for international applicants who
attended a non-English-speaking undergraduate university.

Application:

 Transcript
 One essay (no word limit). Question: As we review your application, what
more would you like us to know as we consider your candidacy for the
Harvard Business School MBA program?
 Two recommendations submitted online by the application deadlines.
Recommenders will be asked to fill out a personal qualities and skills grid and
answer our two additional questions. There is no set formula for who should
be your recommenders. This can be a former supervisor, a colleague,
someone you collaborate on an activity outside of work. How well a person
knows you should take priority over level of seniority or HBS alumni status.
The recommendation form includes the following questions, along with other
types of questions:

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 How do the candidate's performance, potential, background, or personal
qualities compare to those of other well-qualified individuals in similar roles?
Please provide specific examples. (300 words)

Please describe the most important piece of constructive feedback you have
given the applicant. Please detail the circumstances and the applicant's
response. (250 words)

 Resume
 Application Fee: $ 250 USD

Interview:

Interviews are 30 minutes and are conducted by an MBA Admissions Board member
who has reviewed your application. Candidates will be required to submit a written
reflection after their interview. Within 24 hours of the interview, candidates are
required to submit a written reflection through our online application system.

MBA Interview Probability (GPA Under 3.4)

GPA (< 3.4) Under 700 700-730 740 +

Harvard Business School 5% 1O% 13%

Stanford GSB 3% 3% 12%

Application Rounds:

R1 Deadline  1st week of September | Results  1st Week of January

R2 Deadline  1st week of January | Results  31st March

Looking For?

 Leadership: From college extracurricular activities to academic or business

achievements, from personal accomplishments to community commitments.
 Analytical Aptitude
 Engaged Community Citizenship: Who exhibit the highest ethical standards
and respect for others, and can make positive contributions to the MBA
Program. The right candidates must be eager to share their experiences,
support their colleagues, and teach as well as learn from their peers.

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2+2 Applicants (Deferred Admission):

Students in the final year of study are eligible to apply in the current application
cycle. It is comprised of at least two years of professional work experience followed
by two years in the regular HBS MBA Program. Only one cycle (Deadline: 2 April
2020). Application fee is 100 USD. Application process is the same. Acceptance rate
 9 % (50% of those have STEM degrees)

Eligibility: Candidates from bachelor degree programs or joint bachelor/master's

degree programs. Candidates from master's degree programs who have not held a
full-time work position (other than internships or co-ops). To be eligible for the 2+2
program, candidates need to have gone directly from undergraduate to graduate
school. Students enrolled in PhD programs, law school or medical school are not
eligible for the 2+2 Program; instead these students should apply through the regular
admissions process.

To be considered for admission to the 2+2 Program Class of 2024 (entering fall 2022),
a student must graduate between October 1, 2019 and September 30, 2020.

Syllabus:

Year One | Fall: FIELD & the required curriculum 

Finance 1; Financial Reporting and Control (FRC); Leadership & Organizational

Behavior (LEAD); Marketing; Technology & Operations Management (TOM);
Interpersonal Skills Development Lab (ISDL); Short Intensive Programs (SIPs)

Year One | Spring:

Business, Government, and the International Economy (BGIE); Strategy; The

Entrepreneurial Manager (TEM); Finance 2; Leadership and Corporate Accountability
(LCA); FIELD Global Immersion

Year Two | Fall & Spring: During the second year, students choose from an
unparalleled range of elective courses to build on the basic concepts developed in
the Required Curriculum. This portion of the program enables students to integrate
the functional skills learned in the first year into an understanding of the firm as a
total enterprise.Students may take any combination of courses—up to five courses
per semester—and also have the opportunity to cross-register for courses in other
select graduate programs.

Placements:

75% sought placements. Out of which 94% received job offers.

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$148,750 – Median Base Salary

Major Industries – Finance, Consulting & Technology

Majority of roles – Finance, consulting & general management

86% get placed in USA. Rest 14% in the rest of the world (4% in Asia)

Stanford Graduate School of Business

Total Applicants: 7,342 | Accepted: 417 | Acceptance Rate: 5.68%

Women: 47%; International 43%

Avg. Work Exp.: 4.6 years

Avg. GMAT Score: 734

19% of the class took GRE. GRE Average: VA: 165 | Quants: 165

Undergraduate Majors: Business  17% | Engineering/Mathematics/Natural Science

 33% Humanities/Social Sciences  50%

GPA Average: 3.7

What they look for?

Intellectual Vitality: Please think about the times you have taken initiative to learn
new things, to solve challenging problems, or to develop new insights. What have
you discovered? How did you share what you learned? Why does it matter to you
and others? We would like to hear about these experiences to help us understand
how you might engage within our classrooms.

Leadership Potential: The leadership behaviours we seek when evaluating your

application include: strategic thinking, initiative, persistence, results orientation,
engaging others, and developing others.

Quantitative Proficiency: The Admissions Office will review university transcripts, any
additional coursework taken, GMAT or GRE scores, and professional experience. If
you have not already taken calculus or statistics, it will strengthen your candidacy to
do so before you apply. You can take whatever course is most convenient for you.

Deadlines:

2019–20 Deadlines Round 1 Round 2 Round 3

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Submit your application 12 Sep 2019 09 Jan 2020 08 Apr 2020
by1
We will notify you2 12 Dec 2019 02 Apr 2020 21 May 2020
Your reply and deposit 11 Feb 2020 29 Apr 2020 10 Jun 2020
are due by

Deferral Policy: The admission cannot be deferred by a year except if one meets one
of the following criteria:

 Final year of a bachelor degree or a joint bachelor/graduate program, and

your degree will be conferred between October 1, 2019 and September 1,
2020.

OR

 Currently enrolled in a graduate program, which you began immediately

following an undergraduate or undergraduate/graduate program.

One can choose either direct or deferred enrolment. But it is recommended to get
prior work experience as some companies requires so. For more info:
https://www.gsb.stanford.edu/programs/mba/admission/application-
process/deferred-enrollment

Application Process:

Education  A 4-year undergraduate degree or its equivalent / An international 3-

year undergraduate degree. Indian 3+2 masters degree is also accepted. No
minimum GPA is required for admission to the Stanford MBA Program. Also requires
transcript.

GMAT or GRE Scores are required.

TOEFL, IELTS & PTE  TOEFL, IELTS, or PTE test results are required for international
applicants who attended a non-English-speaking undergraduate university.

Professional Experience  Work Experience is not required. Requires a Business

Resume.

Letters of Reference  Two letters of reference:

 One reference from your current direct supervisor (or next best alternative)
at work
 One reference from someone else who has supervised your work

Both letters of reference must be submitted by the deadline of the round in which
you apply. You must not write, or have any involvement in the drafting, translation,
or submission of the letters.
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Personal Information, Activities & Awards

Essays  2 essays: A: What matters most to you, and why? | B: Why Stanford?

Application Fee  The MBA Program application fee is $275

Interviews:

After we have reviewed your written application, we may invite you to interview.

During your interview, a trained member of our global MBA alumni community or an
MBA Admissions Officer will ask you questions that enable us to evaluate your
candidacy. You will also have the opportunity to ask questions of us in order to assess
whether the Stanford MBA Program is right for you.

The interview complements your written application with essential insights for our
evaluation process. We generally interview two to three candidates per available seat
in the class.

What We Seek to Learn  We conduct a competency-based behavioral interview to

gain a deeper understanding of what you have done and how you have done it. We
focus on your past actions, rather than on hypothetical situations, and invite you to
discuss meaningful professional or community-based experiences you’ve had in the
past few years.

Interview Process  The interview will last 45-60 minutes and be conducted in
English. The interviewer submits a written assessment to the MBA Admissions Office.
The MBA Admissions Office adds the interview review to your application file and
considers your entire application to evaluate your candidacy.

Interview Schedule  Round 1: mid-October to late November | Round 2: early

February to mid-March

Round 3: mid-April to early May

Employment:

Mean: 152,503 -Range: 72,000 – 300,000

Major Industries – Finance, (Private Equity; Venture Capital; Investment

Management) Consulting & Technology

Majority of roles – Finance, consulting & Marketing/Sales

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 NO GMAT MBA:

1-year programs:
1. Sloan School of Management (Fellow Program, Executive MBA – 1 year)
https://emba.mit.edu/admissions/faq/

2. Maryville University (Online MBA- 1 year or more)

http://online.maryville.edu/mba/

3. Southern New Hampshire University (15 months)

http://www.snhu.edu/campus-majors/graduate

4. Fitchburg State College(online MBA – 12 months)

http://online.fitchburgstate.edu/programs/master-of-business-administration-in-
management.aspx

5. Plymouth State University (12 months)

http://www.plymouth.edu/graduate/academics/degrees/masters/mba/

6. IIM Bangalore: PGPEM(for 7+ years of work ex, PGPEM test or IIMB test as an
alternative to GMAT)
http://www.iimb.ac.in/node/5608

2-year programs:
1. F.W. Olin Graduate School of Business (Blended Learning Program – 20 months)
Babson College
GMAT waiver policy:
http://www.babson.edu/admission/graduate/apply/Pages/default.aspx

2. DePaul University, Kellstadt Graduate School of Business (18 months)

GMAT waiver criteria: https://www.depaul.edu/university-catalog/colleges-and-
schools/business/admission-and-aid/Pages/graduate-admission.aspx

3. Kellogs (Executive MBA – 21 months): (additional requirement- sponsorship letter

from organisation)http://www.kellogg.northwestern.edu/programs/executive-
mba/applying-to-kellogg/application-requirements.aspx

4. Lake Forest Graduate School of Management (Immersion MBA and Leadership

MBA(18 months))
- could not find official confirmation though
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5. Suffolk University Sawyer School of Business (Executive MBA- 21 months)
http://www.suffolk.edu/business/graduate/62671.php

6. Pace University, Lubin School of Business

http://www.pace.edu/admission-aid/graduate-admission/application-process (may
not apply to this candidate)

7. Rutgers Business School (Full time- 21 months)

http://www.business.rutgers.edu/admissions/graduate/faqs

8. Howard University (Online executive MBA – 18 moonths)

http://www.howard-emba.com/

9. Colorado State University (Online MBA – 21 months)

https://www.online.colostate.edu/degrees/mba/faq.dot

10. UNC Kenan-Flagler (Online MBA and executive MBA – 21 months)

https://onlinemba.unc.edu/admissions/application-requirements/gmat-waiver-
policy/
http://www.kenan-flagler.unc.edu/admissions/emba/waiver-information

11. Ashridge Business School (part-time executive MBA – 21 months)

https://www.ashridge.org.uk/qualifications/mba-executive-mba/apply/

12. Boston University School of Management (Executive MBA – 20 months)

https://www.bu.edu/questrom/admissions/graduate-programs/part-time-mba/

13. Goizueta Business School (executive MBA – 20 months)- Emory University

http://goizueta.emory.edu/degree/wemba/admissions/waiver.html - evaluation

14. J. Mack Robinson College of Business (executive MBA – 17 months) — Georgia

State University
http://robinson.gsu.edu/wp-content/blogs.dir/8/files/2013/01/2014-
app_instructions_pmba1.pdf- GMAT waivers reviewed on case-by-case basis (mostly
quantitative degree)

15. Eugene W. Stetson School of Business (professional MBA- 20 months) – Mercer

University
Could not find official proof, mostly though blogs

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16. Quinlan School of Business (Executive MBA) — Loyola University
GMAT waiver policy: http://www.luc.edu/quinlan/mba/gmatgrewaiverpolicy/

17. Mendoza College of Business (Executive MBA – 22 months) – Notre Dame

University
No official confirmation for or against

18. C.T. Bauer College of Business (Executive MBA – 20 months/22 months) –

University of Houston
GMAT waiver policy:
http://www.bauer.uh.edu/departments/accy/graduate/admissions.php

19. Johns Hopkins University

http://advanced.jhu.edu/academics/dual-degree-programs/government-mba/admissions-
requirements/

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