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INSEAD
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2011/12EssentialGuide
INSEAD
At INSEAD, you will have one year to challenge your thinking, change your outlook and choose your future. INSEAD
Whats Inside
About INSEAD................................................................................................................................................2 Whats New at INSEAD.............................................................................................................................5 What Makes INSEAD Dierent.............................................................................................................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
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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 schools 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 schools two campuses in France and Singapore to a requirement to speak three languages by the time you graduate, INSEADS commitment to international diversity is real, and applicants must demonstrate both significant international experience and a thoroughly global outlook in order to be admitted. INSEADs 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 INSEADs 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.
INSEADs 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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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 Frances 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 INSEADs European campus, the Asian campus in Singapore is located in one of the worlds 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 citys 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.
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Teachers and administrators describe the experience of the one-year accelerated program as drinking from a re-hydrant.
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Without actions, the world would still be an idea. Georges Doriot, Co-Founder, INSEAD
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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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Briey 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 dicult time tting all this information into the limited space requirements of about two paragraphs. The key here is to be incredibly specic 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 its 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.
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 its clearly a byproduct of the economic downturn, where many people have decided to pursue an MBA after getting laid o. The fact of the matter is that regardless of when youre 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 youre 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 dont appear to be waiting for admission to INSEAD as the way out of your economic diculties. Instead, show the admissions committee how you are making progress with your life today.
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Main Essays
Give a candid description of yourself, stressing the personal characteristics you feel to be your strengths and weaknesses and the main factors, which have inuenced 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-reect. 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 Andersons 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 ri o of Harvards 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 its ne if both are professional (its 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 signicant obstacles had to be overcome, are often the most compelling. And, dont 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 Harvards setback stories; in our experience, there are some radical dierences that cannot easily be cut-and-pasted away. As youd 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 ocers 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). Thats 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.
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 dierent school might work as a foundation, but it almost denitely will need to be radically reworked in order to be eective 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 dierences 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 t 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 t for INSEAD. This is a similar question to what London Business School has asked in past years, to Describe any signicant experiences outside your home country or culture. These are questions that are designed to evaluate whether youre 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 theres no language barrier. An American going to school in Fontainebleu or Singapore or Abu Dhabi is likely to experience culture on a whole dierent level. It may be possible to gain an oer from INSEAD if you have literally never left your home country, but it may be dicult 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 rst 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 connes 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 INSEADs 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. INSEADs 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 schools 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 theyre 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.
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 INSEADs clear bias against reapplicants, its critically important to make your first showing count. If you are at all hesitant when the deadline is approaching and unsure if youre 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, theres always another chance to apply coming up in a month or two, so if you dont have everything ready when a deadline arrives, its 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%
INSEAD is fun. Its probably the most fun youre 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 everyones from somewhere else, everyones 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%
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Class Organization
Both intakes of INSEADs 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 INSEADs 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 INSEADs 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 Whartons on campus recruitment period. Since the programs 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 INSEADs 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 Whartons 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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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, Australias 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 nobodys fool and he wants to make sure that MBA participants in his Accounting course dont become anyones 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 Chandons 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 Chandons 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 INSEADs most eye-opening and entertaining electives.
Going beyond the mechanics tallying your cash ow 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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Contact Information
mba.info@INSEAD.edu
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
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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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.
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 diculty in raising nances for their studies. One award of 10,000 is given to a participant from each class. INSEAD LOreal 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-prot background or a demonstrated exceptional personal commitment to not-for-prot work. INSEAD Alumni Fund (IAF) Womens Scholarship(s): 0-15 awards per class ranging from 5,000 to 15,000 awarded to female participants who have made signicant 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-prot, 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-borrowers 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 doesnt mean that campus life is dull. Far from it. INSEADs National Weeks are a mainstay of an MBA participants 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 areas many private chateaux. National Weeks are usually sponsored by a variety of companies from the students home country and a healthy competition exists to raise the most money and outdo the previous nations festivities.
In a typical year, INSEAD will have an even split of 30% of graduates into consulting, 30% into nance, and 30% into industry.
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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%
Consulting 39%
Location
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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
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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 Preps 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 rst application, was particularly dicult and the fact that I received an admission oer is a testament to your dedication and eort. Hamed Modabber
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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. INSEADs 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 INSEADs unique international diversity. Maturity. INSEADs 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 INSEADs 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 lifes 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 resum 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. Its 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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