INSEAD MBA 2008 Employment Statistics

INSEAD MBA GRADUATES 2008 1
2 INSEAD MBA GRADUATES 2008

Contents
3 From the Director

4 Highlights of 2008
6 A World of Talent
8 Profile of the 2008 MBA graduates
10 Full-time jobs & compensation trends
— Overview
12 Job locations
14 Salaries and sign-on bonuses
by region and country
16 Career changes
18 Consulting
20 Consulting salaries and sign-on bonuses
22 Finance
24 Finance salaries and sign-on bonuses
26 Industry
30 Industry salaries and sign-on bonuses
32 The INSEAD Corporate Affiliation Programme (CAP)
33 Employers of 2008 INSEAD MBA Graduates
— Top employers
34 2008 Recruiting partners
38 Summer internships and compensation trends
40 Summer job: monthly base salaries
42 Companies which hired summer interns in 2008
44 List of countries per region
46 A wide choice of recruiting methods
48 Important INSEAD recruiting guidelines

The 2008 MBA Graduates came from
Asia Pacific 29%
Central / Eastern Europe 6%
Latin America 4%
Africa / Near / Middle East 9%
915
North America 11%
Northern Europe 2%
participants of
72 nationalities
+85%
with job offers within
three months of
Southern Europe 12%
graduation
Western Europe 27%
now working in 56 countries
300+ companies

From the Director
Rising to the challenge – together
With the global economy particularly the members of our Corporate

shaken to its foundations, Affiliation programme. Our warmest thanks
the second half of 2008 go out to you all.
was for us – as for many
of you – a challenge. For our part, in 2009 we are, as ever, striving
However, I am pleased to report that the to support our entire network of alumni and
outcome, for INSEAD at least, was far better recruiters, as well as current participants.
than expected. Sharing our own market intelligence in the
form of this report is just one small part of
The diverse and international backgrounds the service.
of our MBA graduates, their ability to adapt
to the rapidly changing environment, and Thanks to this model of mutual support,
the support we received from alumni and I am confident that we can sustain each
recruiters all over the world resulted in job other through the difficult times and emerge
offers for an impressive 85% of the 2008 stronger than before. Together, we can learn
classes – across more countries than ever from the challenge and look forward to an
before. Our experience over half a century easier road ahead.
has taught us to remain optimistic even
in difficult times. Yet we are also realistic Warm regards.
and anticipate that the next year or so will
continue to present challenges for everyone
in the recruitment community.
However, speaking on behalf of the team Sandra Schwarzer

at INSEAD, I would like to say how much Director, Career Services,
we have been heartened in 2008 by the Europe & Asia Campuses
response of our alumni community and the Tel: +33 (0)1 60 72 91 13
continued support of our recruiter network, sandra.schwarzer@insead.edu

Highlights of 2008
Despite challenging market conditions It was also a busy year for ‘career
in 2008, 85% of MBA graduates found treks’, which enable participants to see
employment within three months of a selection of companies at first hand.
leaving INSEAD. Building on the school’s INSEAD’s first ever Career Trek to the
international brand, they went to work in Middle East took place in February 2008,
over 300 companies and in 56 countries. followed by the first Carbon Finance
Indeed, our international reach is wider Career Trek in the spring. In addition, a
than ever before. In 2008 12% of graduates wide range of sector treks were on offer:
accepted jobs in the Near / Middle East investment banking, media and high-tech,
region and Africa region – twice as many private equity, real estate and energy.
as in the previous year. And, thanks to our Further regional treks took participants to
strong presence in Asia, 22% of our MBAs Australia, Japan, Korea, India, Brazil and
took up opportunities in Asia Pacific. Ireland.
As expected, employment in the finance Our traditional role has recently expanded
sector was down on previous years. to cover INSEAD’s two Executive MBA
Nevertheless, thanks to strong hiring programmes for senior managers. We offer
in private equity and venture capital career counselling to all participants and
(representing 28% of our finance full job-search assistance to those who do
recruitment), as well as financial services not have company sponsorship. Currently,
(27%), this decrease was smaller than we are serving 66 participants on the
anticipated. Meanwhile, around 40% of Global EMBA and 33 on the dual-degree
graduates went into the industry sector Tsinghua-INSEAD EMBA.
– with the highest representation in
manufacturing (21% of industry jobs), high- Last but not least, in November 2008, we
tech and telecommunications companies launched an exclusive job board for our
(17%), followed by energy (10%) and 38,500-strong INSEAD alumni community –
healthcare (9%). allowing recruiters to source talent from our
MBA, EMBA and alumni populations – at
Online media and personal networks all career stages and all over the world –
became a key element of the job search through the same CareerLink platform.
in the second half of 2008. As companies
reduced travel spending, registrations on
our online platform, CareerLink, increased
by 43%, and over 2500 opportunities were
posted to the MBA population.

A World of Talent
One school, two campuses and two intakes Candidate Body of Knowledge in their degree
The MBA programme runs in parallel on programmes. INSEAD’s MBA programme was
two campuses in Europe (Fontainebleau, selected for being academically rigorous and
France) and Asia (Singapore). Two closely aligned to professional practice.
classes of approximately 455 participants
A first-class business school
graduate every year: in July and December
We attract some of the most talented and
respectively. This gives you the opportunity
ambitious young professionals in the world.
to recruit twice during the year.
Drawn to the school by our world-class
The most international business school faculty and unparalleled international
If you are looking for executives who are alumni network, they leave INSEAD to
comfortable working across national and create value and growth in companies
linguistic borders, both sensitive to other across the globe.
cultures and proficient in local business – Average GMAT score (2008): 700
practices, then it is only natural to partner –M ajor international rankings: consistently
with INSEAD. Our uniquely diverse in the top ten business schools worldwide
environment attracts young professionals since 2000; number 5 in FT ranking 2009,
with a solid international experience. They number 3 in Business Week ranking 2008.
then learn from each other’s differences – The alumni network includes CEOs,
and similarities, as well as from our global CFOs ,CTOs and Chairmen of global
curriculum and faculty, before moving on to companies including AON, BASF,
pursue careers throughout the world. Danfoss, Deutsche Bank, Diageo,
F.Hoffman – La Roche, Goldman Sachs,
Our campuses in Europe and Asia provide
Heineken, Henkel, L’Oréal, LVMH, Power
graduates with a global perspective.
Corporation of Canada, Statoil, Unilever.
– Over 70% of participants transfer
between campuses during the year. An intensive preparation for a successful
– The top five nationalities make up less career
than 40% of total participants and the top INSEAD graduates do not just offer you
five job destinations make up less than the latest business insights. They bring
45% of total destinations. stamina, teamwork, entrepreneurialism,
– All participants are proficient in three or organisational skills and effectiveness in
more languages on graduation. the face of pressure to the companies they
join. At INSEAD we develop the capacity
INSEAD Recognised by CFA Institute as a
to master a large amount of material in a
Programme Partner
short period of time. In this high-pressure
INSEAD has joined an elite group of global
environment, we foster collaborative skills
academic institutions by becoming a
through group work in diverse teams.
Programme Partner with CFA Institute, the
international association for investment The one-year programme provides in-
professionals. The CFA Programme Partner depth knowledge of conceptual models
Initiative recognises select colleges, and analytical tools in Accounting,
universities and business schools from Entrepreneurship, Economics, Finance,
around the world that have incorporated a Marketing, Organisational Behaviour and
significant percentage of the CFA Programme Strategy.

The top five
nationalities
70% <40%
of the participants
of total
transfer between participants
campuses during the year
Average GMAT
score (2008):
700
18% Native
English Speakers
Participants speak
3+ languages Over
on graduation
2/3 change
country of work
post INSEAD

8%
9%
8%
Profile of the 2008 MBA graduates
Total number of MBAs Nationality(1)

Asia / Asia Pacific 27% 1
915 1
7% Asia / Asia Pacific27%
AsiaPacific 29%
Central / Eastern Europe 5%
Asia / Asia Pacific 27% 1
Central
Central//Eastern Europe 5%
EasternEurope 6%
Latin America 5%
Central / Eastern Europe 5% 2
5% Latin America 5%
LatinAmerica 4%
Latin America 5%
2
5% Africa
Africa//Near
Near//Middle East 9%
MiddleEast 9% 23
9%
North America 11.5%
7 3
North America
North America11.5%
11% 7 3
5% Gender
Northern Europe 2.5%
North America 11.5% 7 4
5%
Northern Europe2.5%
NorthernEurope
Southern Europe 12%
2% 4
29% 4
Northern Europe 2.5%
2% Southern Europe12%
SouthernEurope 12%
Female Western Europe 28% 5
Southern Europe 12%
Western Europe28%
WesternEurope 27% 7 6 5
8%
71% Male Western Europe 28% 7
7
6
6
5
< 26 years 6%
Age
6%
26<- 26
28 years
years 42%
< 26 years 6%
26
29 -- 28 years 42%
31 years 34%
26 - 28 years 42%
29>- 31 years 34%
31 years 18%
29>- 31
31 years 34%
years 18%
> 31 years 18%

Average: 29 years
Work1Experience
- 3 years 8%
1
3 -- 3 5 years 8%
years 35%
351 --- 573 years 8%
years 35%
years 31%
3 - 5 years 35%
5>- 77 yearsyears 31%
26%
5>- 77 years 31%
years 26%
> 7 years 26% Average: 6 years
Education
Arts 5%
5%
Arts 23%
Business
Arts 5%
Business 23%
Economics 12%
23%
Business 12%
Economics
Engineering 35%
Economics 12%
Law / Political Sciences 35%
Engineering 8%
Engineering 35%
Sciences 8%
Law / Political Sciences 9%
Law / Political Sciences
Sciences 9%8%
Other 8%
Sciences
Other 8%9%
For the list of countries per region, please refer to pages 44 and 45.
(1)
Other 8%

Full time jobs
& compensation trends
Overview
Of the 915 participants in the two classes
which completed the INSEAD MBA How did they find their job?
programme in July and December 2008,
872 (95%) responded to the Career Career Services / Alumni 48%
Services survey. Own contacts 19%
Pre-INSEAD employer 25%
Of these 872 graduates, 738 (85%) Summer job 4%
reported having received at least one job Creating own company 4%
offer 3 months after graduation, 676 (78%)
Total #676 100%
gave us details of their career decision
and 536 (61%) reported
INSEAD Careerfull salary
Services / Alumni 54%
information, on which the salaries
Own contacts section
/ Networking 21%
of the following report is based.
Pre-INSEAD employer 19%
Creating own company 4%
Internships 2%
By sector
Total 676
Consulting 42%
Finance 18%
Industry 40%
Consulting 36% - 1
Sectors: comparison over 5 years
2008 2007 2006 2005 2004
Consulting 42% 39% 35% 35% 38%
Finance 18% 28% 29% 30% 20%
Industry 40% 33% 36% 35% 42%
By function Total 727

By function
Total 676
Consulting 47%
Corporate planning / Business development 8%
Finance 15%
General management 11%
Marketing / Sales 8%
Production / Operations management 2%
Rotational programmes 1%
Other* 8%
* Includes: audit & accounting (2), communications (1),

information technology (1), legal (3), logistics & purchasing (5),
research & development (5), systems analysis (1),
technology management (3) and a further 28 who did not
provide a category.
Disclaimer: The information included in this report was provided by both MBA graduates and recruiters and has not been indepen-
dently verified. INSEAD Career Services gives no guarantee as to its accuracy.
Job locations
INSEAD’s global footprint is reflected in Within Europe, Germany, Belgium and

the career destinations of its graduates. The Netherlands attracted a significantly
Statistics show that an INSEAD MBA really higher number of graduates than in 2007,
is a passport to a career anywhere in the while the proportion of those heading
world. Over two-thirds of 2008 graduates for the UK dropped by 16% as a result of
changed their country of work after reduced recruitment in the financial sector
attending INSEAD – a unique achievement and tighter immigration policies. Italy
for a business school. No wonder and Portugal are now the top Southern
companies turn to us, year after year, to European destinations, while fewer
source global talent for their organisations. participants decided to work in Spain on
graduation than in 2007.
In 2008, building on their international
background, their multi-cultural Beyond Europe, the Near / Middle East
management experience and adaptability, and Africa region attracted 12% of
our MBA graduates accepted jobs in graduates – double its 2007 recruitment
56 countries – more than ever before. rate. Asia Pacific continued to grow in
popularity, with increased opportunities
With new opportunities in emerging in Singapore (38% of the jobs accepted in
markets more MBA graduates accepted this region), China (14%) and India (13%).
positions outside Europe than in 2007
(down 11%). INSEAD’s strong presence
in Asia and the Middle East is also a
significant factor.
By region(1)
Total 676
12% Africa / Near / Middle East
22% Asia Pacific
5% Central / Eastern Europe
4% Latin America
7% North America
2% Northern Europe
6% Southern Europe
42% Western Europe
(1)

Belgium 9%
Belgium
Belgium 9% 21%
9%
France
Western Europe
France
France 21% 13%Total 282
21%
Germany
Belgium 13%
Germany 9%
Germany 13% 9%
Switzerland
France
Switzerland 21%
9% 11%
Switzerland
The 9%
Netherlands
Germany
Belgium
The Netherlands
The Netherlands 13%
9% 35%
11%
11%
United Kingdom
Switzerland
United
United France
Kingdom
Kingdom 9%
21%
35%
35%
Other* 2%
The Netherlands
Other* 11%
2%
Other* 13%
Germany 2%
United Kingdom 35%
Switzerland 9%
2%
Other* 11%
The Netherlands
* Includes countries where fewer than 5 jobs were reported:
United Kingdom 35%
Greece 14%Austria (1), Ireland (2), Lichtenstein (2) and Luxemburg (1)
2%
Other* 14%
Greece
Greece 14%
Italy 32%
Italy
Italy 32% 27%
32%
Portugal
14%
Greece 27%
Portugal 27% 25%
PortugalSpain
32%
Italy 25%
Spain
SouthernSpain
Europe25% 2%Total 44
Turkey
Portugal
Greece
Turkey 2%27%
14%
2%
Turkey
Spain 25%
Italy 32%
2%
Turkey 27%
Portugal
Spain 25%
Turkey 2%
Africa / Near / Middle East

Israel 9%Total 78
Israel
Israel 9% 17%
9%
Lebanon
Lebanon
Lebanon
United Arab 17% 63%
17%
Emirates
United Arab
Arab Emirates
Emirates 9%
Israel 63%
United 63% 11%
Other*
Lebanon 17%
11%
Other* 11%
Other*
Israel 63%
United Arab Emirates 9% * Includes: Egypt (3), Morocco (2), Nigeria (1), Saudi Arabia (1),
Tunisia (1) and Zimbabwe (1)
11%
Other* 17%
Lebanon
United Arab Emirates 63%
Other* 11%
Asia Pacific
Australia 7%Total 151
Australia 7% 14%
AustraliaChina
7%
China
Hong 14% 5%
ChinaKong
14%
Australia 7%
Hong Kong
Hong 5% 13%
KongIndia
5%
China 14%
13%
IndiaJapan
India 13% 7%
Hong Kong 7%
Australia
Japan 5%
7%
Japan 7%
Korea 9%
13%
India 14%
China
Korea
Korea 9% 38%
9%
Singapore
Hong Japan
Kong 38%7%
5%
Singapore
Singapore 38% 3%
Taiwan
9%
India 13%
Korea
Taiwan
Taiwan 3% 4%
3%
Other*
Japan 38%
Singapore 7%
Other* 4%
Other* 4%
Korea 9%
Taiwan 3%
Indonesia (1), Malaysia (2), Pakistan (2) and Vietnam (1)
4%
Other* 38%
Singapore
Taiwan 3%
Other* 4%
Salaries and sign-on bonuses
Our graduates accept jobs in a highly Overall, salaries ranged from €18,400
diverse selection of countries, sectors and to €163,900. The widest regional range
functions. This is reflected in the diversity continues to be in Asia Pacific – from
of their salaries. To allow a comparative €18,400 to €150,400.
analysis, we have included salary
information at a regional and national level. Around 61% of graduates reported sign-on
bonuses (down 9% on 2007), but with a
Despite the economic downturn, salaries significant increase in Central / Eastern
remained more or less stable in 2008 Europe (up 35% on 2007). Sign-on bonuses
(the average base salary was down decreased by 20% in Asia Pacific and by
2% on 2007). The apparent fall in US 8% in Western Europe, mainly as a result of
dollar figures is mainly due to currency lower levels of recruitment in sectors which
fluctuations. Compared to 2007, average traditionally offer sign-on bonuses.
salaries increased in Africa / Near /
Middle East (up by 17%), Central / Eastern Please note that all salary figures quoted
Europe (6%) and North America (3%). The are gross, annual and basic – exclusive of
country with the most significant annual all extras such as fringe benefits or sign-on
increase in salary was the United Arab bonuses. The data should be interpreted
Emirates (up 17%). in the context of widely differing national
employment markets, levels of taxation
and costs of living, as well as possible
variations in exchange rates.
Overall annual mean salary € 77,500 US$ 109,500

Overall annual median salary € 79,500 US$ 112,300
Overall median sign-on bonus* € 15,000 US$ 21,200
* 61 % of salaries overall reported with sign-on bonus
Exchange rate: €1 = US$ 1.41277
By region(1)
# Range e Mean e Median e Median
Sign-on e**
Africa / Near / Middle East 62 30,000 – 135,400 83,800 92,000 15,000
Asia Pacific 105 18,400 – 150,400 67,100 70,400 11,500
Central / Eastern Europe 21 40,900 – 123,900 80,200 80,000 20,000
Latin America 21 35,600 – 84,400 68,700 77,500 14,200
North America 35 53,800 – 128,200 81,800 84,900 12,700
Northern Europe 13 50,200 – 125,000 70,000 63,500 -
Southern Europe 35 55,000 – 99,700 68,300 69,250 18,000
Western Europe 244 36,700 – 163,900 81,800 82,000 18,400
Total 536
(1)

How salaries have evolved: comparison over 5 years in local currency (median salary)
2008 2007 2006 2005 2004
France (€) 72,000 81,000 77,900 76,300 76,300
Germany (€) 95,000 90,000 87,100 82,000 90,000
Singapore (SG$) 141,300 149,500 141,000 158,700 147,500
Switzerland (SFr) 130,000 135,000 129,800 139,000 136,000
United Kingdom (£) 67,800 65,000 64,800 60,000 60,800
USA (US $) 117,700 120,000 109,300 110,000 105,000
By country in local currency*

# Range Mean Median Median
Sign on**
Australia (AUS$) 7 85,000 – 275,000 151,300 135,000 -
Belgium (€) 20 48,000 – 100,000 79,700 80,000 25,000
Brazil (Real) 13 110,800 – 228,600 198,100 212,100 38,300
Canada (CDN$) 11 99,800 – 135,000 122,400 134,700 -
China (Renminbi) 16 305,300 – 958,600 670,000 695,000 86,100
Finland (€) 7 61,000 – 68,700 63,500 62,000 -
France (€) 49 40,800 – 160,000 73,600 72,000 25,000
Germany (€) 33 60,000 – 152,000 94,700 95,000 15,000
Hong Kong (HK$) 5 644,600 – 1,003,500 832,500 816,400 -
India (Rupee) 10 1,200,000 – 3,592,400 2,336,100 2,489,100 443,800
Italy (€) 9 67,000 – 72,000 68,600 68,500 10,000
Japan (Yen) 9 8,560,000 – 20,000,000 11,676,700 11,788,400 -
Korea (Won) 11 69,763,600 – 132,822,200 116,730,200 126,784,800 42,125,700
Lebanon (LBP) 10 106,174,400 – 199,077,000 178,145,100 192,944,400 29,683,750
Portugal (€) 12 50,000 – 80,000 67,400 70,000 25,000
Russia (Rouble) 14 2,711,500 – 4,478,300 3,038,200 2,892,300 723,100
Singapore (SG$) 40 89,800 – 239,400 141,900 141,300 24,000
Spain (€) 7 55,000 – 75,000 68,600 75,000 18,000
Switzerland (SFr) 22 95,900 – 156,700 131,400 130,000 20,000
The Netherlands (€) 23 69,300 – 105,000 84,100 82,000 16,500
UAE (UAE Dirham) 41 154,600 – 697,700 442,600 474,300 77,300
United Kingdom (£) 92 29,900 – 133,500 66,200 67,800 15,000
USA (US$) 24 80,100 – 180,000 117,600 117,700 17,500
Total 468
* where at least 5 salaries were represented. ** where at least 5 sign-on bonuses were reported.
Exchange rates
The exchange rates used to compile the tables above are given below.
Currency 2008 per e* 2008 per US$* Currency 2008 per e* 2008 per US$*
Australia (AUS$) 1.82855 1.30942 Lebanon (LBP) 2156.45375 1526.45696
Brazil (Real) 2.76103 1.97723 Russia (Rouble) 36.05715 25.79044
Canada (CDN$) 1.58024 1.12522 Singapore (SG$) 2.03189 1.44245
China (Renminbi) 9.68174 6.85307 Switzerland (SFr) 1.56903 1.11529
Hong Kong (HK$) 10.99627 7.77734 UAE (Dirham) 5.19102 3.67437
India (Rupee) 65.89187 46.88386 United Kingdom (£) 0.81739 0.58296
Japan (Yen) 144.59563 102.00007 USA (US$) 1,41277 1
Korea (Won) 1700.65957 1215.74239 * Source: Oanda.com (average exchange rate 01/07/2008 -31/12/2008)

Career changes
It is clear that INSEAD MBA participants Changes of business sector

have a huge appetite for change. Thanks
to their international experience and Former consultants
renowned adaptability, 87% of INSEAD’s
2008 graduates succeeded in changing Finance 10%
their function, sector or country of work on
leaving the MBA programme. Nearly 20%
Industry 20%
changed all three, which is an impressive Consulting 70%
achievement.
Positions in industry gained in popularity

Former finance professionals
not only among former consultants but
also among those coming from the finance
sector (up 12% on 2007). Almost one-third Industry 16%
of finance professionals joined consulting Consulting 26%
firms on graduation.
Finance 58%
Compared to previous years, more
Brazilian, Portuguese, Russian, Italian,
Chinese, Lebanese, American and Indian Former industry professionals
participants decided to return to their
home country after their MBA. On the other Finance 9%
hand, a significantly higher number of
British and South Korean graduates took up Consulting 31%
opportunities outside their home country. Industry 60%*
* Of 208 participants who remained in industry, 33% stayed in
the same sector of industry, while 67% opted for a change.
An appetite for change
87% of INSEAD MBAs changed career
66% function
58% country
38% sector
and
19% changed all three
dimensions

Region or country changes
Nationalities: who stays home and who goes abroad(1) Total 676
Regions # Home Abroad

North America 80 34% 66%
Latin America 49 53% 47%
Eastern Europe 80
North America 53 34%
55% 66%
45%
Latin America
Asia 49
Pacific 166 53%
60% 47%
40%
Eastern
Africa / Near / Middle East 53
Europe 56 55%
66% 45%
34%
Northern Pacific 166
AsiaEurope 12 60%
67% 40%
33%
Africa / Near / Middle
Southern East 56
Europe 58 66%
69% 34%
31%
Northern
Western Europe 12
Europe 202 67%
81% 33%
19%
Southern Europe 58 69% 31%
Western Europe 202 81% 19%
Within selected nationalities*

Indian 68 28% 72%
Regions # Home Abroad
American 39 31% 69%
Indian 68
Canadian 41 28%
32% 72%
68%
Israeli 39
American 14 31%
36% 69%
64%
British 41
Canadian 30 32%
47% 68%
53%
Israeli 14
Korean 11 36%
55% 64%
45%
British 30
Lebanese 20 47%
55% 53%
45%
French 11
Korean 68 55%
56% 45%
44%
Chinese 20
Lebanese 23 55%
57% 45%
43%
French 68
German 35 56%
63% 44%
37%
Italian 23
Chinese 22 57%
64% 43%
36%
Brazilian 35
German 25 63%
68% 37%
32%
Italian 22
Singaporean 22 64%
68% 36%
32%
Belgian 25
Brazilian 23 68%
70% 32%
30%
Dutch 22
Singaporean 27 68%
70% 32%
30%
Belgian 23 70%
71% 30%
29%
Japanese 14
Dutch 27 70%
79% 30%
21%
Russian 19
Japanese 14 71%
86% 29%
14%
Portuguese 14
Russian 19 79% 21%
Portuguese 14 86% 14%
* Includes nationalities with more than

10 participants.
(1)

Consulting
Recruitment in consulting remained strong new destinations such as Belgium or Greece

in 2008 with 42% of our MBA participants emerged as popular. Hiring also increased
joining the sector, compared to 39% in in Germany and The Netherlands, while
2007. While global firms were still the most opportunities in the United Kingdom, France
active recruiters, medium-sized and smaller and Spain continued to decrease.
specialised boutique firms continued to
increase their visibility on campus. As a Overall, salaries and sign-on bonuses in
result of the global economic situation, a consulting remained fairly stable. However,
larger number of MBAs than usual decided there was a significant increased in Africa /
to return to their previous employers. Near / Middle East as well as Asia Pacific.
In terms of geographical distribution, while

58% of those MBAs who chose consulting
joined firms in Europe, other regions How did they find their job?
attracted a higher number of graduates than Career Services / Alumni 56%
in the previous year. The biggest growth can Pre-INSEAD employer 33,5%
be seen in Africa / Near / Middle East, which
Own contacts 6%
accounted for 17% of consulting jobs (up
10% on 2007). In Asia Pacific, the number Summer job 4%
of graduates working as consultants in Own company 0,5%
China increased by 11%, while numbers in Total #283 100%
Singapore remained stable. Within Europe,
By region(1)
Total 283
13% Asia Pacific
5% Latin America
7% North America
1% Northern Europe
10% Southern Europe
40% Western Europe
(1)

Within Europe Total 164
Belgium 9%
France 10%
Germany 14%
Greece 3%
Italy 7%
Portugal 4%
Russia 9%
The Netherlands 14%
United Kingdom 20%

Other* 10%
Austria (1), Czech Republic (1), Hungary (3), Norway (1), Poland (1),
Romania (2), Spain (4), Sweden (1), Switzerland (3)
Within Asia Pacific Total 37
Australia 16%
China 24%
Singapore 30%
Other* 30%
Hong Kong (1), India (4), Japan (4), Korea (1), Malaysia (1)

Consulting salaries & sign-on bonuses
Overall annual mean salary € 82,500 $ 116,600
Overall annual median salary € 83,500 $ 118,000
Overall median sign-on bonus* € 15,000 $ 21,200
* 77 % of consulting salaries were reported with sign-on bonus
Exchange rate: e1 = US$ 1.41277
By region*(1)
Sign-on e**
Africa / Near / Middle East 43 35,000 – 130,000 88,000 92,000 15,000
Asia Pacific 29 18,400 – 104,000 70,900 72,000 10,800
Central / Eastern Europe 19 70,000 – 90,000 79,700 80,000 20,000
Latin America 13 35,600 – 84,400 68,400 77,500 14,100
North America 17 80,000 – 128,200 88,900 85,600 12,700
Southern Europe 21 55,000 – 75,000 68,900 70,000 18,000
Western Europe 100 52,900 – 160,000 87,300 85,000 18,400
Total 242
Within selected countries*

Sign-on e**
Belgium 13 71,400 – 90,000 80,800 80,000 25,000
Brazil 9 40,900 – 84,400 72,100 77,500 14,200
Canada 8 80,000 – 88,600 85,200 85,500 12,700
China 7 50,000 – 88,600 75,300 80,000 10,500
France 14 59,000 – 160,000 84,700 81,250 25,000
Germany 21 80,000 – 152,000 97,200 97,000 15,000
Italy 9 67,000 – 72,000 68,600 68,500 10,000
Lebanon 9 51,000 – 95,600 87,900 92,600 14,200
Portugal 7 70,000 – 75,000 70,700 70,000 25,000
Russia 12 75,000 – 90,000 81,100 80,000 20,000
Singapore 10 60,100 – 104,000 73,200 71,400 11,100
The Netherlands 18 77,200 – 105,000 83,400 81,500 15,000
United Arab Emirates 31 50,900 – 100,000 88,600 92,000 15,000
United Kingdom 30 52,900 – 135,100 86,300 85,600 18,400
USA 9 84,900 – 128,200 92,200 88,500 14,200
Total 207
* where at least 5 salaries were reported
** where at least 5 sign-on bonuses were reported
(1)

Finance
Despite the current turmoil in the financial As well as assisting participants in their
sector, the number of graduates accepting finance job search, Career Services
a full-time position in finance decreased continues to work closely with the Finance
by only 10% compared to 2007. Within the Club and IPEC (INSEAD Private Equity
sector there was a distinct decline in the Club) across both campuses. Both clubs
number of graduates taking up a career remain very active and organised career
in banking (down from 58% in 2007 to treks for investment banking and private
45%). However, as in previous years, the equity to London, Hong Kong and the
trend was for offers to be made as a result Middle East in 2008. Private equity and
of summer associate programmes. On venture capital alumni and professionals
a positive note, recruitment increased in came to the Europe campus for the 6th
financial services (up from 22% to 27%) IPEC Conference in May 2008, which was a
and private equity (up from 20% to 28%). resounding success, and a number of other
speakers came to campus to give specific
As expected, fewer graduates with a insights into their industries.
finance background returned to the sector
in 2008 (down from 65% in 2007). Instead,
they showed a strong interest in consulting
(up from 17% to 26%). How did they find their job?
In geographical terms, fewer 2008 Career Services / Alumni 38%
graduates accepted a finance position in Own contacts 33%
Western Europe than in previous years. Pre-INSEAD employer 20%
The UK was notably less popular, although Summer job 8%
finance recruitment increased slightly in
France. However, there was a large increase Own company 1%
in finance recruitment in Asia Pacific, Total #125 100%
especially India, and Africa / Near / Middle
East.
Salaries decreased this year throughout

the finance sector. As in previous years, the
range of salaries is extremely wide. This is
largely due to the wide variety of locations
where INSEAD graduates choose to work.
Only just over half of graduates entering the
sector reported the offer of a sign-on bonus
(compared to 74% last year). However, the
size of bonus seems to be stable, even in
Western Europe.
(1)

By region(1)
Total 125
31% Asia Pacific
2% Latin America
4% North America
1% Northern Europe
3% Southern Europe
49% Western Europe
Financial services 27%

Financial services
Investment banking 27%
45%
By division Total 125
Financial services
45%
Private equity 28%
Financial services
45%
Private equity 28%
Investment banking
Private 45%
equity 28%
Private equity 28%
Analyst / Research analyst 5%

By top job titles Total 125 (out of total finance)
Analyst / Research 5%
analyst 42%
Associate
analyst 42%
Investment Associate
executive 13%
analyst 42%
Associate
Manager 13%
Investment executive 15%
Investment Associate 42%
executive 13%
President15%
Vice Manager 5%
Investment executive 13%
President15%
Vice Manager 5%
President15%
Vice Manager 5%
Vice President 5%

France 17%
France 17%
Switzerland 9% * Includes countries where
fewer than 5 jobs were
France 17%
Switzerland 9% reported: Belgium (3),
United Kingdom 54% Germany (3), Italy (1),
France 17%
Switzerland 9% Lithuania (1), Norway (1),
Other* 54%
United Kingdom 20% Portugal (2), Russia (1),
Switzerland 9% The Netherlands (1),
Other* 54%
United Kingdom 20% Turkey (1)
United Kingdom 54%
Other* 20%
Other* 20%
Within Asia Pacific Total 39
Honk Kong 15%
India 15%
Honk Kong 15%
* Includes countries where
India 15%
Honk Kong
Singapore 15%
46% fewer than 5 jobs were
Honk Kong 15%
15%
India 46%
reported: Australia (1),
Singapore
Other* 24% China (3), Indonesia (1),
Japan (3), Pakistan (1)
India 15%
Other* 46%
Singapore 24%
Singapore 46%
Other* 24%
Other* 24%
Finance salaries & sign-on bonuses
* 52% of finance salaries were reported with sign-on bonus
By division
Sign-on e**
Financial services 22 31,900 – 135,400 77,700 79,650 17,200
Investment banking 45 27,300 – 92,500 70,400 71,200 27,000
Private equity / VC 28 41,000 – 163,900 90,500 81,600 10,400
Total 95
Top job title*

Sign-on e**
Associate 45 31,900 – 163,900 75,100 71,200 27,000
Investment executive 13 59,200 – 150,000 91,500 91,800 -
Manager 16 27,300 – 95,600 67,100 71,800 18,700
Vice president 5 59,000 – 127,400 79,200 64,100 -
Total 79
By region*(1)
Sign-on e**
Asia Pacific 25 27,300 – 150,400 68,800 70,400 13,000
Africa / Near / Middle East 6 64,600 – 135,400 94,900 86,100 -
North America 6 56,600 – 95,600 74,500 77,300 -
Western Europe 52 45,000 – 163,900 79,700 74,300 27,000
Total 89
(1)

Within Europe*
Sign-on e**
France 8 45,000 – 120,000 74,100 70,000 -
Switzerland 5 76,500 – 92,500 82,900 79,800 -
United Kingdom 34 58,000 – 163,900 78,400 73,400 27,300
Total 47
Within Asia Pacific*

Sign-on e**
Singapore 14 44,300 – 104,000 67,700 69,000 14,800
Total 14
Within Africa / Near / Middle East*

Sign-on e**
United Arab Emirates 5 64,600 – 135,400 99,800 102,000 -
Total 5

Industry
In 2008, INSEAD graduate employment in This is partly due to the large number who
industry was back to 2004 levels at 40% (up returned to their previous employers (19%
from 33% in 2007). Within the wide range of of industry recruits), probably in reaction
sectors covered by the term ‘industry’, there to global economic circumstances. The
was also a rise in the number of graduates number of graduates starting their own
going into manufacturing. Despite this – and companies also rose slightly (to 8.5% – up
a fall in healthcare recruitment – there was from 6% in 2007).
no significant overall change in the spread
of industries where participants found jobs. As in other sectors, the number of jobs
accepted in Europe fell significantly (from
As far as job functions are concerned, the 62% of total industry recruitment in 2007
number of people going into in-house to 48% in 2008). This can be explained
consulting rose significantly (up from 4% by an overall reduction in recruitment in
of industry jobs in 2007 to 12%). There mature markets and particularly the UK. In
was also greater recruitment into general contrast, the strong trend towards greater
management and production / operations recruitment in Asia Pacific continues – up
management. 6% to 28% in just one year. China, India
and Korea showed significant growth, as in
Networking remains the key to finding a job previous years, while Taiwan, Malaysia and
in industry (either on campus or externally). Pakistan figure prominently in our statistics
In 2008, however, there was a small for the first time. As expected, the regional
decrease in the number of participants exception is Japan. Economic factors
finding jobs through alumni and Career contributed to a fall in recruitment from
Services, compared to previous years. 12% in 2007 to just 4% in 2008.
By region(1)
Total 268
28% Asia Pacific
4% Latin America
9% North America
4% Northern Europe
4% Southern Europe
40% Western Europe
(1)

Top functional areas Total 268 (out of total industry)
Consulting 12%
Finance 7%
12%
Consulting 25%
General management
7%
Finance 5%
Production / Operations management
General management 25%
Production / Operations management 5%
Advertising / Publishing 1%
Construction 1%
All industry sectors Total 268
Consumer / Luxury goods 7%
Advertising
Corporate/ Publishing 1%
services 7%
Construction
Energy / Petroleum 10%1%
Consumer / Luxury 7%
goods 9%
Healthcare
Corporate services 7%
High-Tech / Telecommunications 17%
Energy 10%
/ Petroleum 21%
Manufacturing*
Healthcare 9%
Media / Entertainment 6%
High-Tech sector / Non-profit 17%
/ Telecommunications
Public 7%
Primary metals 21%
Raw materials / Manufacturing* 4%
Media / Entertainment
Trade 6%
5%
Public
Travel sector / Non-profit
/ Leisure services 7%
4%
Raw materials / Other
Primary metals
services 4%
1%
Trade 5%
Travel / Leisure services 4%
Other services 1%
* Includes aeronautics, automobiles, electronic machines,
electronic equipment, fabricated metal products, miscellaneous
manufacturing products, plastics / rubber, textiles.
Belgium 6%
Finland 6%
France 23%
6%
Belgium 7%
Germany
Finland 6%
Spain 5%
23%
France 12%
Switzerland
Germany 7%
The Netherlands 5%
5%
Spain 21%
United Kingdom
Switzerland 12%
Other* 15%
The Netherlands 5%
United Kingdom 21%
Industry
In 2008 salary levels did not change

greatly compared to the previous year. How did they find their job?
While the mean salary decreased, the
Career Services / Alumni 44%
median increased. However, the number
of graduates reporting sign-on bonuses Own contacts 27%
fell (from 53% to 47%), as did the size of Pre-INSEAD employer 19%
the bonuses themselves. Within individual Summer job 1,5%
industry sectors, the broader spread of
Own company 8,5%
jobs in energy away from the traditional
focus on oil and gas resulted in a wider Total #268 100%
range of salaries in 2008 than in previous
years. Average salaries and sign-on
bonuses decreased in high-tech, media
and entertainment, but salaries increased
slightly in manufacturing and raw materials.
Within regions, there are not many

significant salary trends to report. Within
Europe, 2008 salaries were more balanced
between Southern and Western Europe
than in previous years. Corresponding to
increased employment in Africa / Near /
Middle East, there were also higher salaries
in that region than in 2007. And in Asia
Pacific, salaries in China were down slightly
but up in Singapore and India.

Public sector / Non-profit 7%
Other services 1%
Raw materials / Primary metals 4%
Trade 5%
Travel / Leisure services 4%
Other services 1%
Belgium 6%
Finland 6%
France 23%
Germany 7%
Belgium 6%
Spain 5%
Finland 6%
Switzerland 12%
France 23%
The Netherlands 5%
Germany 7%
United Kingdom 21%
Spain 5%
Other* 15%
Switzerland 12%
* Includes countries where fewer than 5 jobs reported: Azerbaijan
The Netherlands 5% (1), Czech Republic (1), Greece (1), Iceland (1), Ireland (2), Italy
(1) Liechtenstein (2), Luxembourg (1), Poland (1), Portugal (3),
United Kingdom 21% Romania (2), Russia (2), Sweden (2) and Ukraine (1)
Other* 15%
China 12%
India 13%
Within AsiaKorea 17%
Pacific Total 75
Singapore 37%
China 12%
Taiwan 7%
India 13%
Other* 14%
Korea 17%
Singapore 37%
Taiwan 7%
Other* 14%
* Includes countries where fewer than 5 jobs reported: Australia (3),
Japan (4), Malaysia (1), Pakistan (1), Vietnam (1)

Industry salaries & sign-on bonuses
* 47% of industry salaries were reported with sign-on bonus
By sector*
Sign-on e**
Consumer / Luxury goods 13 25,000 – 104,400 68,900 75,000 6,100
Corporate services 13 19,700 – 140,800 66,500 61,400 5,500
Energy / Petroleum 20 40,900 – 129,100 77,300 74,500 19,800
Healthcare 19 35,400 – 100,000 73,200 73,000 13,900
High-tech /
Telecommunications 38 30,000 – 114,000 69,300 67,100 12,200
Manufacturing 44 20,000 – 100,000 71,600 74,800 15,900
Media / Entertainment 10 36,500 – 125,000 71,100 68,100 15,100
Public sector / Non-profit 12 51,500 – 118,100 70,900 65,800 -
Raw materials /
Primary metals 6 61,700 – 99,400 80,800 84,700 20,900
Trade 5 37,900 – 104,400 68,700 65,000 -
Travel leisure services 10 42,000 – 90,000 60,900 55,400 -
Total 190
By top functions*
Sign-on e**
Consulting 27 37,400 – 100,000 72,400 74,800 21,400
Corporate planning /
Business development 39 41,200 – 129,100 72,100 71,100 12,100
Finance 12 40,900 – 92,000 78,400 84,500 15,300
General management 42 19,700 – 118,100 66,800 67,800 10,200
Marketing / Sales 33 25,000 – 114,000 67,800 72,000 15,900
Production /
Operations management 8 36,500 – 100,000 73,700 72,100 -
Rotational programme 8 46,500 – 125,000 79,800 82,200 12,500
Other 13 55,800 – 96,000 71,000 67,000 10,600
Total 182


By region*(1)
Sign-on e**
Africa / Near / Middle East 13 30,000 – 92,000 65,100 71,700 -
Asia Pacific 51 19,700 – 140,800 64,100 64,100 10,500
Latin America 6 44,300 – 83,400 68,800 75,200 -
North America 14 53,800 – 114,000 74,700 72,300 8,900
Northern Europe 10 50,200 – 70,000 62,800 62,500 -
Southern Europe 8 50,000 – 80,000 64,400 62,500 -
Western Europe 92 36,700 – 129,100 77,200 79,300 12,800
Total 194
Within Europe*
Sign-on e**
Belgium 6 48,000 – 100,000 77,200 78,200 -
Finland 7 61,000 – 68,750 63,500 62,000 -
France 27 40,800 – 105,000 67,600 67,000 7,000
Germany 9 60,000 – 125,000 88,300 85,200 -
Switzerland 14 61,200 – 100,000 83,200 82,900 11,700
United Kingdom 28 36,700 – 129,100 79,600 82,700 12,300
Total 91
Within Asia Pacific*

Sign-on e**
China 8 36,500 – 100,000 69,900 70,100 -
India 5 19,700 – 55,000 38,500 37,900 -
Korea 10 41,200 – 78,400 69,800 74,800 24,900
Singapore 16 52,800 – 118,100 70,100 66,300 9,900
Total 39

(1)

The INSEAD Corporate Affiliation
Programme (CAP)
INSEAD’s global structure opens the door
to unique opportunities for company INSEAD thanks our 2008/09 CAP
visibility, recognition and impact at “The Recruitment Partners for their support!
business school for the world”©.
Accenture
CAP members participate in advancing A.T. Kearney
the school’s mission through annual CAP Bain & Company
contributions. As a not-for-profit- school, Barclays Capital
we seek to build our base of annual gifts in The Boston Consulting Group
order to build new initiatives and support Booz & Company
fundamental programmes and research BP Group
for the school. Our corporate friends play Citi
a crucial role in this regard with their Credit Suisse
generous financial support. Deutsche Bank
Egon Zehnder
In addition to a wider and enhanced Eli Lilly
range of benefits for recruitment partners, Emerson Electric
CAP now offers fresh opportunities for Firmenich
visibility and networking across the school Goldman Sachs
under two new partnership headings - Holcim
Sponsorship and Knowledge: Johnson & Johnson
L.E.K. Consulting
– CAP Recruitment Partners have a new McKinsey & Company
range of benefits designed to add more Merrill Lynch Europe
value for its members. Nomura
– CAP Sponsorship Partners sponsor Novartis
events and activities ranging from The Olayan Group
Student Clubs to the INSEAD Leadership Oliver Wyman
Summit. Philip Morris International
– CAP Knowledge Partners underpin Robert Bosch
INSEAD research initiatives through our Roland Berger Strategy Consultants
academic Centres of Excellence. SABMiller
Schindler Management
Solvay
The Timken Company
Value Partners
WPP Group
Yapi ve Kredi Bankasi
For further information please contact:
Ida LE DUC
Associate Director of Corporate
Relations – Development
Tel: +33 (0)1 60 71 26 64
Email: ida.leduc@insead.edu

Employers of 2008 INSEAD MBA
Graduates
Top employers
We would like to highlight those employers who recruited most INSEAD graduates in
2008 and thank them for their continued support.
Finance # Industry #
Standard Chartered Bank 8 Nokia 13
Credit Suisse 6 (1) Samsung 11 (1)
Deutsche Bank 4 (1) Shell 8 (2)
Grupo Santander 4 (2) Alstom 5
HSBC 4 British Telecom 5
Admiral Group 3 Schlumberger 4 (1)
Barclays 3 Siemens 4
Citi 3 Syngenta 4
Merrill Lynch 3 Eli Lilly 3
UBS 3 Google 3
Johnson & Johnson 3
LVMH 3
Novartis 3
Consulting # Philips 3
McKinsey & Company 97 (39) Procter & Gamble 3
The Boston Consulting Group 51 (22) Rolls Royce Plc 3
Booz & Company 39 (8)
Bain & Company 21 (10)
A.T. Kearney 13 (2)
Accenture 6 (3)
Roland Berger Strategy Consultants 6 (1)
Oliver Wyman 5 (2)
Deloitte Consulting 4
Monitor Group 4
Opera Solutions 4
PricewaterhouseCoopers 3 (1)
Numbers in brackets are former employees returning to the organisation after graduation.

2008 Recruiting partners
Companies in bold employed at least three MBA Graduates in 2008

Companies marked “* ” participated in on-campus recruiting activities
2Source Manufacturing Arup Canrim Ventures

3i Asklepios International* Capital Group *
AstraZeneca Career Launcher
A
Autium Pte Ltd CareerNet Consulting
A.T. Kearney*
Avaya * Cargill *
Abbott Laboratories *
Avington Financial * Carrier EMEA *
ABInBev*
AXA Real Estate Investment Catalyst Investment Managers
Abraaj Capital * Managers
CDS *
Abu Dhabi Investment Axel Springer AG
Authority Celsa *
Axios International *
Accenture * CEMEX
Acian Technologies * B Central Bank of Malaysia
Acted * Bain & Company* Chakraborty SW GmbH
ADi Alternative Investments Banco Espírito Santo Chrome Technologies
Adidas * Bank of America * CIBC World Markets
Aditya Birla Group * Barclays * Citi *
Admiral Group * Bayer * ClubMed *
Adveg Management AG BBVA * Colgate-Palmolive *
Aerovida Bertelsmann AG * Conferendum
African Development Bank Bilasuvar Agro Consulting&Co
Air Liquide Booz & Company * Copal Partners
Alcan EP Boston Scientific Corporate Value Associates *
Alghanim * BP * Credit Suisse *
AlpInvest Partners, N.V. * Brambles * Crop’s
Alstom * British American Tobacco Crystal Media Guild
Altek Corporation British Telecom * CX partners
Alvarez and Marsal * Builder Design Architects Cyrte Investments
Amadeus * Bureau Veritas
Amazon * D
Burger King
Amcor D.E.Shaw Group *
Business Development Asia
Amdocs LLC DAC Systems
American Express * Business in the Community Dalberg Global Development
Advisors *
Amphenol *
C Danaher *
Apple *
ArcelorMittal * C&J Clarks Dassault Data Services
Areva * Calyon Dassault Systèmes
Arthur D. Little * Canal + * Dell *

Deloitte Consulting * Euro Praxis Consulting * H
Delpharm Eurobank EFG * Hai Tong Securities
Delta Partners * European Investment Fund * Hay Group *
Deutsche Bank * Everest Group * HCL *
Development Bank of Japan Evoco Headstrong
Dexia * Exane * Heidelberg Cement
Diageo * Expedia * Hilti *
DIZE ExxonMobil Hineynu
Doosan House of Cool Studios
F
DSM * Hewlett-Packard *
Fidelity International *
Dubai Technology and Media HSBC *
Free Zone Authority Firmenich
HSBC Private Equity
Duff & Phelps * FOX Network
Dupont * France Telecom I
Freescale Semiconductor IATA *
E FrontierRenewables I-Com Mobile
Eaton * FSG Social Impact Advisors * IDEX Corporation *
eBay IEG Investment Banking
G
Ecenta AG Imdea
Gallup
ECI Partners LLP Imerys *
Gateway Gulf *
EDP Renovaveis IMS Health
Geenee.com
EF Education * Inditex SA *
GEMS
EFE Infosys *
General Electric (Aviation)
Efficio consulting Limited Innovator Capital
General Electric *
EFG Hermes * INSEAD Centre for
General Electric Commercial Entrepreneurship
Eli Lilly * Finance
eloVEER ergonomics Intel
Genzyme Cardiovascular *
Elsevier International Finance
Gideon Group Corporation *
Emerson Electric * GIFT International Labour
Emirates International GIMV Organization
Telecommunications (EIT)
GIP International SOS *
ENAM Holdings
Goldman Sachs * Invus *
Endeca *
Google * iRG Hong Kong
Eneco
Gov. of Canada – Climate Isla Pasión
Entegral renewables Change Negs. Office ITA Group
EON Reality Greylock Partners
EQT Grupo Santander J
Ericsson Gulf Merchant Group Janssen-Cilag
Ernst & Young GulfTalent Johnson & Johnson *
Essent Energy Trading * JP Morgan *
Estin & Co. JSFC

K Molson Coors * Paul Capital
Kantilal & Co. (Bombay) Monitor Group * PC30
KBC Group Moody’s Pepsico International *
Knolskape Solutions Morgan Stanley * PER *
Knovigate MTS Group * Permira
KPMG * Mubadala Development Pernod Ricard *
Company * Pfizer
L
N Philips International *
L.E.K. Consulting *
Nestlé PIMCO *
Lafarge
NET Serviços de Portugal Telecom
LAN Airlines
Comunicação PricewaterhouseCoopers *
Lazard *
Nike * Procter & Gamble
LBBW
Nishimura & Asahi PRTM *
LGT Capital Partners *
Nissan *
Lincoln Crowne & Company * Q
Nokia *
Lombard Odier & Cie Q-Cells *
Nomura
Lone Pine Capital QVT Financial *
Nord Stream
L’Oréal *
Nordea Bank AB, Nordea Life R
Louis Vuitton and Pension Norway Rearden Commerce
LVMH * Novartis * Recap Trading Inc
M NRG Engineering * Reliance Industries
Macquarie Bank RIM
O
Made in Office GmbH Rio Tinto Alcan *
OC&C Strategy Consultants *
Maersk Roland Berger Strategy
Oceanking Technical & Consultants *
Magnesita Trading Ltd.
Marakon Associates (Trinsum) Rolls-Royce Plc *
OECD
Marorka Royal Bank of Scotland
Old Mutual Group *
Marvell RPO Management Consultants
Oliver Wyman *
Mayoreo Electrico de RSI
Opera Solutions *
Monterrey RTE EDF Transport S.A.
Orbis Investment Advisory *
McDonalds RTL Group
Orient Global *
McKinsey & Company * RYMCO International
Oriental Petrochemicals
Medtronic * Company
Merrill Lynch * S
Owens Corning *
Mesoamerica Sagem
Michelin P Saint Gobain
Microsoft Pacific Harbor Group Salvatore Ferragamo
Ministry of Development Pantheon Capital Samsung *
Mitsubishi Corp Paques Sanford C. Bernstein *
Moet Hennessy The Parthenon Group * Sanpaolo IMI Fondi Chiusi
PastaCorp SGR *
Molten Group *
Santander *

SAP * Syngenta * Volkswagen Consulting *
SAPA Synthes * VR Consulting
Schindler *
Schlumberger T W
Schlumberger Business Taconic Capital Advisors Warburg Pincus
Consulting * LLC * Waterland Private Equity
Schneider Electric * Taitien Electronics Investments
SEA Group Taqa Energy BV * Wendel
Seabury Aviation & Aerospace Tchibo GmbH * Whirlpool *
Sensaris Technopak * Wildfire
Shackleton Ventures TECOM Investments * wilo
Shell * Teledata Marine Wipro Technologies *
Siemens * Terra Firma Capital Partners WMRC *
Siemens Management Tesco * World Economic Forum
Consulting * The Blackstone Group * WPP Group
Signatura Lazard The Boston Consulting
Group * X
Signet Capital Management
The Carbon Trust XiD Technologies
Singapore Armed Forces
Singapore Economic The Kazoo Group Z
Development Board The Rompetrol Group Zattoo *
Singapore Government Thomson Reuters ZOLL Data Systems
Singapore Land Authority TietoEnator ZS Associates
Singapore Ministry of Trade Tokio Marine & Nichido
& Industry Insurance Co. Ltd
SK Telecom Total *
Skyline Capital Partners Transocean
Société Foncière Lyonnaise Treacy and Company
Sodexo * Tristar Pacific
Solitonik Turenne Capital
Solvay SA
U
Solymer *
UBS*
Sonic Boom
UNICEF *
SPAR
Unilever *
Standard Chartered Bank *
Upline Investments
Stanton Marris *
Upstream Systems
Starwood Hotels & Resorts *
US Tool Group
STMicroelectronics *
Stryker * V
Sumitomo Mitsui Banking V Corp Interim
Corporation Vale (CVRD)
Swiss Re * Value Partners *
Symbiotics Veolia Transportation Total: 394

Summer internships
and compensation trends
With 255 participants reporting that As in previous years, finance internships
they undertook a summer job, it is clear accounted for the majority of
that internships are continuing to gain opportunities. The distribution of summer
in popularity among our December jobs across sectors remained similar to
graduating classes (those graduating that of 2007.
in July are not available for summer
internships). As in previous years the In terms of geographical diversity, Asia
average duration was seven weeks. Pacific continued to grow in popularity
as a destination, with India and China
An impressive 145 companies offered now close behind Singapore. In Western
internships to INSEAD participants in 2008 Europe, there were new opportunities
(up from 118 in 2007). And 22 companies in Germany and Belgium, while the
took more than 3 interns (the same as in number of summer jobs in other countries
2007). Around 95% of interns used their remained relatively stable.
summer job to gain experience in a new
company (up 2% on 2007) and overall
satisfaction ratings among participants
were very high.
By region(1)
Total 255
6,5% Africa / Near / Middle East
27,5% Asia Pacific
5% North America
2,5% South America
2% Eastern Europe
1% Northern Europe
2,5% Southern Europe
53% Western Europe
(1)

Belgium 4%
France 8%
Germany 6%
Belgium 4%
Belgium
Switzerland 4%
France 8%
France 8%
Spain 3,5%
Germany 6%
Germany 6%
UK 57%
Switzerland 8%
Switzerland
The Netherlands 8%
Spain 3,5%
UK 3,5%
Spain
Other* 10%
57%
The Netherlands 57%
UK 3,5% Austria (1), Czech Republic (1), Denmark (1), Kazakhstan (1),
Ireland (1), Italy (1), Liechtenstein (3), Luxemburg (2),
Other*3,5%
The Netherlands 10% Romania (1), Russia (2), and Sweden (1)
China 10%
Other*
WithinHong
AsiaKong
Pacific
7% Total 70
20%
India 10%
China
China
Singapore
Hong 10%
Kong 46%
7%
Hong
Other*
India 7%
Kong 20%
17%
20%
India 46%
Singapore
Singapore 46%
Other* 17%
Other* 17%
Brunei Darussalam (1), Cambodia (1), Indonesia (2), Japan (3),
Advertising / Publishing 0,5% Korea (4) and Malaysia (1)
Corporate services 1%
Investment
Advertising By sector
banking
/ Publishing 26%
0,5% Total 255
Energy//Publishing
Advertising
Corporate Petroleum 5%
services 0,5%
1%
Financial services
Corporate
Investment 12%
1%
banking 26%
Energy /Healthcare
Investment
Petroleum 2%
banking 26%
5%
Raw materials / Primary
Energy / Petroleum
Financial services 4%
metals 12%
5%
Public Financial
sector Healthcare
/ Non-profit 4%
services 12%
2%
metals 19%
Consulting
Healthcare
Raw materials / Primary 2%
4%
Media
Raw materials
Public / Entertainment
/ Primary
sector 4%
metals 4%
/ Non-profit
Manufacturing
Public sector /Consulting 4%
4%
Non-profit 19%
Construction
Media / Entertainment 1%
4%
Consulting 19%
Consumer Luxury goods 3,5%
Media //Manufacturing
Entertainment 4%
High-tech / Telecommunications 7%
Construction 1%
Manufacturing 4%
Venture capital // Luxury
Consumer Private equity 4%
goods 3,5%
Construction 1%
High-tech / Telecommunications
Consumer / Luxury goods 1%
Trade 3,5%
7%
Transportation/ /Telecommunications
Travel
Venture capital
High-tech / Aeronautics
/ Private equity 2%
4%
7%
Trade
Venture capital / Private equity 1%
4%
Transportation / Travel / Aeronautics
Trade 2%
1%
Transportation / Travel / Aeronautics 2%

Summer job: monthly base salaries
By sector*
# Range € Median €*
Consulting 48 200 – 7,800 6,500
Consumer / Luxury goods 9 1,100 – 4,400 4,100
Energy / Petroleum 9 600 – 7,300 4,500
Financial services 25 150 – 6,900 2,400
Healthcare 4 1,700 – 4,700 4,000
High-tech / Telecommunications 17 500 – 5,500 3,300
Investment banking 65 200 – 6,500 6,100
Manufacturing 10 500 – 5,500 3,600
Media 8 500 – 3,000 1,300
Non-profit 4 1,000 – 2,600 1,500
Primary materials 11 1,400 – 3,700 2,500
Travel / Leisure services 4 400 – 3,800 2,600
Venture capital / Private equity 9 200 – 5,800 2,200
Total 223
By country*
# Range € Median €*
Belgium 5 1,700 – 5,000 2,500
Brazil 5 3,100 – 7,700 6,700
China 7 600 – 6,700 2,000
France 9 1,700 – 4,700 3,000
Germany 7 1,100 – 5,500 2,000
Hong Kong 5 1,000 – 5,200 2,100
India 10 200 – 1,500 300
The Netherlands 5 2,500 – 6,200 2,500
Singapore 30 500 – 6,600 2,200
Spain 5 500 – 3,200 3,200
Switzerland 7 600 – 4,600 2,900
United Arab Emirates 8 4,400 – 7,100 6,400
United Kingdom 81 1,200 – 9,200 6,100
USA 8 1,300 – 6,800 2,600
Total 192
*where 4 or more salaries were reported
Exchange rate source: Oanda.com (average for the period: 01/07/08 – 31/08/08)

Companies which hired
summer interns in 2008
Companies in bold employed at least three interns
3i D H
A Dalberg Development HCL
A.T. Kearney Advisors Hilti
ABInBev Danaher HSBC
Abraaj Capital Databank Financial Services
AllProperty Media Ltd I
Amphenol Dell ICICI Bank
Arthur D. Little Deutsche Bank IDEO
Asia Cleantech DFS IDG Ventures
Axios International Diageo IFAAP
Discovery Communications International Finance
Donauland Corporation
B DSM
Bain & Company ILFS
Banco Santander E Industrial Investors
Bank of America Efficio Consulting Ltd Infosys
Banyan Tree Holdings Eli Lilly INSEAD
Barclays Capital Endeavour Vision Intercontinental Hotel Group
Barclays Global Investors Ernst & Young Intrinsic Value Investors
Beiersdorf AG Eternix Ltd.
Bertelsmann AG Eurasia Capital J
BMO Capital Markets EuroDNS Johnson & Johnson
Booz & Company European Bank for JP Morgan
Boyarkin & Partners Reconstruction and
BP Development L
BT Design ExxonMobil Lazard
Lehman Brothers
C F Leopard Capital
Cameron Thomson Group Fidelity Linqia
Canal Plus Franklin Templeton
Cantilllon Capital Investments M
CIBC World Markets Mahanusa Capital
Citi G McKinsey & Company
Clarks General Electric Medtronic International
Co-active Gigiwig Ltd Merrill Lynch
Cognetas Global Fund to Fight AIDS Mobiles’ Republic
Continental Capital Partners Tuberculosis & Malaria Monitor Group
Ltd. Goldman Sachs Morgan Stanley
Credit Suisse Google Mount Capital
CRH Green Eco
Cube Capital Mubadala
CVCI N
News Corp.
NRG Engineering

O T
OC&C Strategy Consultants Tag Investimentos
Oliver Wyman Tagit
ORBIS International Tata BP Solar
Overseas Private Investment TechnoServe
Corporation Teco Electric & Machinery
Pte Ltd
P Terra Firma
Pacific Star The Boston Consulting
PepsiCo Group
Petrofac Energy Developments The Carbon Trust
Philips The Walt Disney Company
Pimco Tocqueville International
Pluto Capital TPG
Population Services International
Procter & Gamble U
PricewaterhouseCoopers UBS
UN OCHA/PIC
UNIBOOKS
R United Nations
Renaissance Ventures
Renaissance Group
Rianta V
Roland Berger Strategy Vale
Consultants Value Partners
Roovno Web Services Pvt Ltd Verdane Capital
Videojet
S
Samsung Electronics W
SAP Western Asset Management
Schlumberger
Shell Z
Siemens Venture Capital ZS Associates
SingTel
SKS Microfinance
Standard Chartered Bank
Starwood Hotels & Resorts
SunCoal Industries
Symbiotics SA
Syngenta
Synovate Research
& Consulting Total: 145

List of countries per region
Africa Sao Tome And Principe Marshall Islands

Algeria Senegal Micronesia
Angola Seychelles Mongolia
Benin Sierra Leone Myanmar
Botswana Somalia Nauru
Burkina Faso South Africa Nepal
Burundi Sudan New Caledonia
Cameroon Swaziland New Zealand
Cape Verde Tanzania Niue
Central African Republic Togo Norfolk Island
Chad Tunisia North Korea
Comoros Uganda Pakistan
Congo Zambia Palau
Congo Rep.Dem. Zimbabwe Papua New Guinea
Djibouti Philippines
Egypt Asia Pacific Samoa
Equatorial Guinea Afghanistan Singapore
Eritrea American Oceania Solomon Islands
Ethiopia American Samoa Sri Lanka
Gabon Australia Taiwan
Gambia Bangladesh Thailand
Ghana Bhutan Tokelau
Guinea Brunei Darussalam Tonga
Guinea-Bissau Cambodia Tuvalu
Ivory Coast China Vanuatu
Kenya Christmas Island Vietnam
Lesotho Cocos Islands
Liberia Cook Islands Eastern Europe
Libya East Timor Albania
Madagascar Fiji Armenia
Malawi French Polynesia Azerbaijan
Mali Guam Belarus
Mauritania Hong Kong Bosnia and Herzegovina
Mauritius India Bulgaria (EEA)
Morocco Indonesia Croatia
Mozambique Japan Czech Republic (EEA)
Namibia Kiribati Estonia (EEA)
Niger Korea Georgia
Nigeria Lao Hungary (EEA)
Reunion Macau Kazakhstan
Rwanda Malaysia Kyrgyzstan
Saint Helena Maldives Latvia (EEA)

Lithuania (EEA) Honduras North America
Macedonia Jamaica Canada
Moldova Martinique USA
Poland (EEA) Mexico
Romania (EEA) Montserrat Northern Europe
Russia Netherlands Antilles
Denmark (EEA)
Serbia and Montenegro Nicaragua
Faroe Islands (Denmark)
Slovakia (EEA) Panama
Greenland (Denmark)
Slovenia (EEA) Paraguay
Finland (EEA)
Tajikistan Peru
Iceland (EEA)
Turkey Puerto Rico
Norway (EEA)
Turkmenistan St Kitts and Nevis
Sweden (EEA)
Ukraine St Lucia
Uzbekistan St Vincent and The Grenadines
Southern Europe
Surinam
Latin America Trinidad and Tobago Cyprus (EEA)
Turks and Caicos Islands Gibraltar
Anguilla
Uruguay Greece (EEA)
Antigua-Barbuda
Venezuela Italy (EEA)
Argentina
Virgin Islands (British) Malta (EEA)
Aruba
Virgin Islands (US) Portugal (EEA)
Bahamas
Spain (EEA)
Barbados
Near/Middle East Vatican
Belize
Bermuda Bahrain
Western Europe
Bolivia Iran
Brazil Iraq Andorra
Cayman Islands Israel Austria (EEA)
Chile Jordan Belgium (EEA)
Colombia Kuwait France (EEA)
Costa Rica Lebanon Germany (EEA)
Cuba Oman Ireland (EEA)
Dominica Palestine Liechtenstein (EEA)
Dominican Republic Qatar Luxembourg (EEA)
Ecuador Saudi Arabia Monaco
El Salvador Syria Switzerland
Falkland Islands United Arab Emirates The Netherlands (EEA)
Grenada Yemen United Kingdom (EEA)
Guadeloupe
Guatemala
Guiana
Guyana
Haiti

A wide choice of recruiting methods
The Career Services team provides Recruit on campus

advice and assistance for recruiters If you wish to build corporate brand image
throughout the hiring process. We and increase awareness of your company’s
are committed to working closely career opportunities, on-campus
with organisations to find an INSEAD recruitment is usually the best approach.
recruitment strategy that fits their needs. This consists of a one-hour presentation
Recruiters can access 930+ MBA, 100 usually followed by a networking cocktail
Executive MBA and a network of 38,500 reception, with interviews held at a
alumni through our offices. later date. Employer visits take place
during the two main recruitment periods
Identical opportunities to hire INSEAD (March–June and September–December).
MBAs are provided twice a year on both Interviews can be arranged on both
of our campuses (Europe and Asia). campuses, taking advantage of our
The MBA participants taking part in interview rooms, state-of-the-art video-
campus exchanges between Singapore, conference facilities, and the web-based
Fontainebleau (France) and the Wharton interview-scheduling system on our
School of Business (USA) is increasing. CareerLink platform.
In 2008 around 70% of participants
chose to move at least once between Participate in a Career Fair
campuses. Given such mobility, it is vital The Career Fair is a great opportunity
that recruitment messages reach all to meet and network with outstanding
participants. Ideally, companies achieve participants who are interested in posts
this by having a physical presence on in Asia, Europe and beyond. It is also a
both campuses or by taking advantage convenient way to build a company’s
of our video-conference facilities. We presence on campus and to meet future
recommend mixing and matching the key international decision-makers
following recruitment methods according and customers – without engaging
to your needs. Please do not hesitate to the resources required for a formal
contact us to discuss your best approach presentation.
for successful recruitment at INSEAD.

Post a job description Career Services sponsored events
At any time during the year, descriptions We arrange many additional events
of career opportunities (full-time positions throughout the year. Examples include:
or internships) can be posted on our panel discussions on careers in specific
user-friendly website, CareerLink, free of industries or women’s career issues;
charge and viewed by MBA participants seminars on presentation skills or case
on both campuses. The site makes it interview techniques; and preparation for
possible for applicants to respond directly finance interviews. All of these provide
to the recruiting organisation. participants with specialised insights and
allow the companies involved to promote
Contact individuals directly through the their brand on campus.
CV Book
The CVs of our MBA participants are Clubs
an important recruiting tool, whether INSEAD has a wide variety of sector-
companies plan to recruit on campus specific participant clubs, including
or by direct contact. For each class, consulting, healthcare, energy, private
we publish a CV Book, which is also equity, marketing, entrepreneurship and
available online with many useful search NGOs. Working with the clubs on their
capabilities, such as languages, previous various events enables recruiters to target
work experience and educational – and network with – groups of motivated
background. participants very efficiently.
Recruit for internships and projects For more details on recruiting at INSEAD,
The January intake has the opportunity please visit the “Corporate Recruiters”
to work on a July–August internship or section of our website:
project during the two-month summer http://www.insead.edu/mba/careers
break. Managers hiring INSEAD MBA
participants in this way benefit from having
highly motivated, self-starting individuals
work on specific business issues.

Important INSEAD recruiting
guidelines
Non-disclosure of grades: INSEAD’s
selection criteria demand a rigorous For more details on recruiting at INSEAD,
evaluation of intellectual and professional please visit Corporate Recruiters section
abilities. To obtain the MBA degree is a of our website:
significant achievement. As a matter of http://www.insead.edu/mba/careers
policy, grades are considered confidential
during the recruitment process. However, General Enquiries
participants will be able to communicate Europe Campus
about whether or not they are on the Tel: +33 (0)1 60 72 43 80
official Dean’s List of high performers. Full careers.fb@insead.edu
transcripts of grades can be obtained only
after graduation. Asia Campus
Tel: +65 6799 5428
Equal consideration for participants on careers.SGP@insead.edu
both campuses: Participants are selected
from a centralised applicant pool, so both
campuses have roughly the same MBA
profile. Recruiters are therefore expected
to consider all candidates regardless of
their campus location, including those
on the exchange with Wharton. It is also
in employers’ interests to target both
INSEAD campuses, as – after the first four
months of the programme – participants
are able to move freely between sites
every two months. Career Services has
comprehensive systems in place, such as
video-conferencing equipment, to facilitate
this process.
Non-discrimination: As an international
business school, INSEAD adheres to the
principles of equality and impartiality. We
expect companies recruiting at INSEAD to
respect these principles.


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INSEAD MBA 2008 Employment Statistics

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INSEAD MBA GRADUATES 2008 1

2 INSEAD MBA GRADUATES 2008

3 From the Director

INSEAD MBA GRADUATES 2008 1

Asia Pacific 29%

Central / Eastern Europe 6%

Africa / Near / Middle East 9%

now working in 56 countries

2 INSEAD MBA GRADUATES 2008

With the global economy particularly the members of our Corporate

However, speaking on behalf of the team Sandra Schwarzer

INSEAD MBA GRADUATES 2008 3

4 INSEAD MBA GRADUATES 2008

6 INSEAD MBA GRADUATES 2008

INSEAD MBA GRADUATES 2008 7

Total number of MBAs Nationality(1)

> 31 years 18%

> 7 years 26% Average: 6 years

8 INSEAD MBA GRADUATES 2008

Creating own company 4%

10 INSEAD MBA GRADUATES 2008

By function Total 727

Corporate planning / Business development 8%

General management 11%

Production / Operations management 2%

* Includes: audit & accounting (2), communications (1),

INSEAD’s global footprint is reflected in Within Europe, Germany, Belgium and

12% Africa / Near / Middle East

22% Asia Pacific

5% Central / Eastern Europe

42% Western Europe

12 INSEAD MBA GRADUATES 2008

Africa / Near / Middle East

Overall annual mean salary € 77,500 US$ 109,500

14 INSEAD MBA GRADUATES 2008

By country in local currency*

INSEAD MBA GRADUATES 2008 15

It is clear that INSEAD MBA participants Changes of business sector

Positions in industry gained in popularity

An appetite for change

87% of INSEAD MBAs changed career

16 INSEAD MBA GRADUATES 2008

Regions # Home Abroad

Within selected nationalities*

Portuguese 14 86% 14%

* Includes nationalities with more than

INSEAD MBA GRADUATES 2008 17

Recruitment in consulting remained strong new destinations such as Belgium or Greece

In terms of geographical distribution, while

17% Africa / Near / Middle East

13% Asia Pacific

7% Central / Eastern Europe

10% Southern Europe

40% Western Europe

18 INSEAD MBA GRADUATES 2008

The Netherlands 14%

United Kingdom 20%

Within Asia Pacific Total 37

INSEAD MBA GRADUATES 2008 19

Within selected countries*

20 INSEAD MBA GRADUATES 2008

Salaries decreased this year throughout

22 INSEAD MBA GRADUATES 2008

* Includes: audit & accounting (2), communications (1),

* Includes nationalities with more than

8% Africa / Near / Middle East