MBA Graduates 2011: 2011 Employment Statistics. A World of Talent. doc

MBA Graduates 2011
2011 Employment Statistics. A World of Talent.
INSEAD MBA Graduates 2011 1
Contents
From Career Services 2
Highlights of 2011 3
A World of Talent 4
Profile of 2011 INSEAD MBA graduates 6
Full-time jobs and compensation trends 8
• Overview 8
• Job locations 10
• Career changes 12
• Compensation trends by region and country 14
• Corporate Sectors 16
• Consulting 22
• Finance 26

Employers of 2011 INSEAD MBA graduates 30
• Top employers 30
• The INSEAD Partnership 31
• 2011 Recruiting Partners 32
Summer internships and compensation trends 36
• Companies which hired summer interns in 2011 40
A wide choice of recruiting methods 42
List of countries per region 46
INSEAD MBA Graduates 2011
2 INSEAD MBA Graduates 2011 INSEAD MBA Graduates 2011 3
Highlights of 2011
INSEAD’s graduating classes were as
diverse as ever – with 86 nationalities,
33% women and an average of 5.5 years’

experience across many sectors.
Graduates’ career destinations were as
diverse as their origins: 41% Western
Europe, 25% Asia Pacific (both roughly
the same as last year), 9% North America
(up from 8% last year), 7% Africa/
Middle East and 7% Latin America. The
most significant increases were in those
opting for jobs in Brazil and India.
Perhaps the most interesting increase,
however, was in the number of new
graduates starting their own company –
up from 3% in 2010 to 8% in 2011. This
reflects INSEAD’s strong reputation and
range of activities in entrepreneurship
– including, in 2012, the first
“Entrepreneurial Careers Corner” at our
Career Fairs.
In 2011, 82% of our graduates changed
their career in terms of job function,
geography and/or industry (and
23% changed all three). Base salaries
reflected the wide range of career
destinations and currencies – ranging
from €10,600 to €250,000. And though
mean salaries decreased slightly across
most sectors, mean sign-on bonuses
were up slightly.
Our targeted CV books continue to play
an important role, as do our other recent

innovations, such as use of social media
and support for student clubs’ “career
treks”. These are just a few of the initiatives
that contributed to a successful year
despite a challenging employment market.
From Career Services
A school that mirrors the
global economy
After a year of record-breaking success
in 2010, we watched the economic storm
clouds gather over Europe in 2011 with
some trepidation. But the beauty of INSEAD
is that it is a truly global school with truly
global employment opportunities. While
recruitment to Southern Europe fell, we
saw a surge in the BRIC countries, a small
increase in North America and stability in
Western Europe. As a result, we were only
just short of our 93% record – with 92% of
graduates reporting employment within 3
months of graduation across 64 countries
and 455 companies.
Another global trend reflected in our
statistics is the increased use of social
media by all involved in the recruitment
process. In fact, we’re pleased to report,
Careers_insead@twitter is now avidly
followed throughout the world!
In 2011 too, we did set one new record. A
staggering 98% of graduates responded to

our survey.
But, as ever, this report is really a testimony
to the talent of INSEAD students, the
strength of our Corporate Partners and
the power of our global alumni network.
We would like to thank them all for their
contribution to a near-record year in 2011.
INSEAD Career Services,
Europe & Asia Campuses
92% of our
2011 graduates
reported
employment
within 3 months
Graduates
starting own
ventures rose
from 3% to
8% in 2011
4 INSEAD MBA Graduates 2011 INSEAD MBA Graduates 2011 5
A World of Talent
One school, two campuses
and two intakes
The MBA programme runs in parallel on
two campuses in Europe (Fontainebleau,
France) and Asia (Singapore). Two
classes of approximately 500 participants
graduate every year: in July and December
respectively. This gives employers the
opportunity to recruit twice during the year.

The most international
business school
If you are a recruiter looking for executives
who are comfortable working across national
and linguistic borders, both sensitive
to other cultures and proficient in local
business practices, then it is only natural to
partner with INSEAD. Our uniquely diverse
environment attracts young professionals
with a solid international experience. They
then learn from each other’s differences
and similarities, as well as from our global
curriculum and faculty, before moving on to
pursue careers throughout the world.
A first-class business school
We attract some of the most talented and
ambitious young professionals in the world.
Drawn to the school by our world-class
faculty and unparalleled international alumni
network, they leave INSEAD to create value
and growth in companies across the globe.
• Average GMAT score (2011): 703
• Major international rankings: regularly
ranked in the top ten business schools
worldwide since 2000; number 1 in
Bloomberg Businessweek’s 2010
ranking of international business
schools (non US schools) number 2
in Forbes’ ranking of one-year MBA
programmes outside the US in 2011 and

number 6 in the Financial Times’ Global
MBA ranking in 2012
• The alumni network includes Chairmen,
CEOs, and other senior level directors
at a large number of global companies
including LVMH, L’Oréal, Power
Corporation of Canada, Roche Holding
Ltd, Danfoss, Statoil, Heineken, AON,
Deutsche Bank, Goldman Sachs, BASF,
Sanofi-Aventis, McKinsey & Company,
Rio Tinto, Siemens, Prudential Plc,
Lloyds Banking Group, Groupe Galeries
Lafayette, L’Occitane International.
An intensive preparation for
a successful career
INSEAD graduates do not just offer recruiters
the latest business insights. They bring
stamina, teamwork, entrepreneurialism,
organisational skills and effectiveness in the
face of pressure to the companies they join.
At INSEAD we develop the capacity to master
a large amount of material in a short period
of time. In this high-pressure environment,
we foster collaborative skills through group
work in diverse teams.
• The one-year programme provides in-
depth knowledge of conceptual models
and analytical tools in Accounting,
Entrepreneurship, Economics, Finance,
Marketing, Organisational Behaviour

and Strategy.
Dual-Degree Programme between
INSEAD and the John Hopkins
University Paul H. Nitze School of
Advanced International Studies (SAIS)
The INSEAD-SAIS Dual-Degree Programme,
launched in 2011, prepares students for
careers that combine international relations
and business administration. Students
admitted to both programmes are able
to complete the two degrees in two and a
half years, instead of three years required
to complete the degrees separately, by
spending one and a half years at SAIS and
one year at INSEAD.
Over
71%
of participants
transfer between
campuses during
the year
The top five
nationalities
<39%
of total participants
The top five job
destinations
<44%
of total destinations
Participants are

proficient in
3+
languages on
graduation
Our campuses in
Europe and Asia
provide graduates
with a global
perspective
6 INSEAD MBA Graduates 2011 INSEAD MBA Graduates 2011 7
Africa / Near / Middle East 11%
Asia Paci c 26%
Central / Eastern Europe 9%
Latin America 7%
North America 14%
Northern Europe 1%
Southern Europe 9%
Western Europe 23%
Nationality
Education
Age
Average: 29 years
Average: 5.5 years
Work Experience
Profile of 2011 INSEAD
MBA Graduates
Total number of
MBA graduates:
1,009
Gender

33% Female
67% Male
< 26 years 6%
26 – 28 years 44%
29 – 31 years 38%
> 31 years 12%
1 – 2 years 8%
3 – 5 years 36%
5 – 7 years 34%
> 7 years 22%
Arts 4%
Business 26%
Economics 15%
Engineering 33%
Law / Political Sciences 7%
Sciences 6%
Other 9%
8 INSEAD MBA Graduates 2011 INSEAD MBA Graduates 2011 9
Disclaimer: The information included in this report was provided by both MBA graduates and recruiters and has not been
independently veri ed. INSEAD Career Services gives no guarantee as to its accuracy.
2011 jobs by sector group
2011 jobs by function
Full-time jobs and
compensation trends
Overview
Of the 1009 participants in the two
classes which completed the INSEAD
MBA programme in July and December
2011, 992 (98%) responded to the Career
Services survey and 24 reported not

having started their job search.
Of these 968 graduates actively looking
for a job, 888 (92%) reported having
received at least one job offer 3 months
after graduation, 838 (87%) gave us
details of their career decision and 654
(67%) reported full salary information,
on which the salaries section of the
following report is based.
How did they find their job?
INSEAD facilitated activities
Career Services / Alumni network 426 51%
Summer job 33 4%
Graduate facilitated activities
Pre-INSEAD employer 179 21%
Own contacts 136 16%
Creating own company 64 8%
TOTAL 838 100%
Sectors: comparison over 5 years
Consulting 39%
Financial Services 23%
Consumer & Luxury Goods 10%
High-Tech / Telecommunications 9%
Manufacturing 4%
Energy / Petroleum 3%
Healthcare 3%
Primary Industries 3%
Advertising / Publishing 1%
Construction 1%
Corporate Services 1%

Media / Entertainment 1%
Public Sector / Social Impact 1%
Travel / Leisure Services 1%
Consulting 40%
Finance 18%
General Management 12%
Corporate Planning / Business Development 11%
Marketing / Sales 8%
Other* 5%
Rotational Programmes 3%
Production / Operations Management 2%
Technology Management 1%
39% 23% 38%
44% 20% 36%
39% 17%
42% 18%
44%
39% 28% 33%
40%
2011
2010
2009
2008
2007
Consulting Finance Corporate Sectors
Corporate Sectors 38%
Finance 23%
Consulting 39%
By sector

* includes: Accounting & Control, Communications/PR, Human
Resource Management, Legal, Logistics & Purchasing, Project
Management, Research & Development, and a further 3% who
did not provide a category.
10 INSEAD MBA Graduates 2011
INSEAD’s reputation as “The Business
School for the World” is built on the
diversity of our graduates’ career
destinations and the global reach of
our alumni network – over 43,000 in
160 countries. In 2011, our record was
as impressive as ever. More than 450
companies in 64 countries recruited
our graduates.
Our twelve-year presence in Singapore
makes us notably strong in Asia Pacific.
In 2011, as in the previous year, 25% of
our students went to work in this region.
We saw a particularly big increase in
those choosing to work in India – from
6% in 2010 to 14% in 2011.
On the other side of the world, there
was a slight rise in the percentage of
graduates recruited to jobs in North
America – 9% compared to 8% in 2010 –
perhaps reflecting economic recovery in
the region. In contrast, but also reflecting
the pattern of the global economy,
there were significant decreases in the
numbers working in Italy, Spain and

Portugal. Only 5% of graduates obtained
jobs in Southern Europe, compared to
7% in 2010.
The numbers recruited to Western
Europe and Latin America remained
stable in comparison with last year. A
decrease in France was balanced by
increases in UK and Germany. And Brazil
was by far the most popular destination
in Latin America, accounting for 45
students (compared to 27 in 2010).
INSEAD MBA Graduates 2011 11
Job Locations
Companies in 64 countries
turned to INSEAD to
source talent
By region

Africa / Near / Middle East 7%
Asia Paci c 25%
Central / Eastern Europe 5%
Latin America 7%
North America 9%
Northern Europe 1%
Southern Europe 5%
Western Europe 41%
12 INSEAD MBA Graduates 2011 INSEAD MBA Graduates 2011 13
Region or country changes
Nationalities #
Home Abroad

38%
45%
50%
52%
64%
72%
72%
79%
62%
55%
50%
48%
36%
28%
28%
21%
Regions #
Home Abroad
Nationalities: who stays home and who goes abroad
(1)

Within selected nationalities*
(1) For the list of countries per region,
please refer to pages 46, 47 and 48.
* includes nationalities with more than 10 participants
Career changes
In 2011, true to past form, INSEAD
MBA participants demonstrated their
extraordinary capacity for change. An
impressive 82% of graduates succeeded

in changing their function, sector or
country of work – and 23% changed all
three at once.
The statistics reveal a few new trends.
More former finance professionals joined
the corporate sectors (up from 20% in
2010 to 26% in 2011) and fewer went
into consulting (down from 25% to 17%).
Similarly, we saw more people returning
to the corporate sector (up from 55% the
previous year to 58%) and fewer former
corporate-sector professionals took jobs
in consulting (down from 35% to 32%).
In geographical terms, we noted a
tendency for Australian, Bulgarian, Israeli
and Portuguese students to take jobs
away from home, while Brazilian,
Singaporean and Swiss students
were more likely to return to their
home countries.
Finance 11%
Corporate Sectors 20%
Consulting 69%
Former consultants
Changes of business sector
An appetite for change
Consulting 17%
Corporate Sectors 26%
Finance 57%
Former finance professionals

Finance 10%
Consulting 32%
Corporate Sectors 58%*
Former corporate sectors professionals
of 838 MBAs:
82% 691 changed sector or
country or function
23% 190 changed all
3 dimensions
59% 495 changed country
40% 333 changed sector
62% 517 changed function
*
Of 199 participants who remained in corporate sectors, 43%
(85) stayed in the same sector of industry, while 57% (114)
opted for a change.
North America 116
Southern Europe 87
Africa / Near / Middle East 82
Central / Eastern Europe 67
Northern Europe 14
Asia Paci c 205
Latin America 60
Western Europe 207
20% 80%
23% 77%
24% 76%
24% 76%
29% 71%
33% 67%

33% 67%
33% 67%
42% 58%
43% 57%
44% 56%
52% 48%
55% 45%
60% 40%
60% 40%
61% 39%
69% 31%
70% 30%
76% 24%
82% 18%
84% 16%
88% 12%
50% 50%
Bulgarian 10
Australian 13
Israeli 25
Portuguese 17
Canadian 52
Indian 83
French 61
Greek 12
American 64
Spanish 21
Italian 27
Russian 18
Lebanese 27

Korean 11
Belgian 10
Turkish 10
German 46
Chinese 36
British 43
Dutch 25
Swiss 11
Brazilian 31
Singaporean 17
14 INSEAD MBA Graduates 2011 INSEAD MBA Graduates 2011 15




# Range Mean Median % of Sign-on Median
Bonus Sign-on**
Australia (AUS$) 12 114,250 – 176,600 144,000 147,750 83% 20,000
Belgium (€) 9 73,000 – 110,000 85,100 83,000 78% 28,000
Brazil (Real) 40 106,000 – 457,000 226,800 220,300 55% 36,600
Canada (CDN$) 15 96,500 – 160,000 125,100 130,000 60% 20,000
China (Renminbi) 26 400,000 – 1,100,000 658,300 605,500 85% 167,500
France (€) 35 67,000 – 130,000 87,300 85,000 51% 22,500
Germany (€) 35 61,200 – 144,000 95,300 95,000 34% 22,500
Hong Kong (HK$) 12 575,000 – 1,636,600 936,500 840,000 42% 310,000
Hungary (Forint) 5 17,142,900 – 21,714,300 20,057,100 21,714,300 20% -
India (Rupee) 13 850,000 – 5,491,500 3,388,600 3,560,000 62% 500,000
Italy (€) 12 70,000 – 90,000 73,500 71,000 92% 15,000
Korea (Won) 15 100,000,000 – 241,333,300 129,775,500 126,700,000 93% 35,600,000
Luxembourg (€) 7 75,000 – 133,000 92,600 80,000 86% 22,500

Malaysia (Ringgit) 7 210,000 – 440,000 312,400 320,000 86% 61,000
Russia (Rouble) 15 1,810,000 – 5,995,000 3,853,600 3,958,300 73% 1,041,700
Singapore (SG$) 60 36,000 – 205,000 135,300 142,000 52% 30,000
South Africa (Rand) 5 455,300 – 900,000 723,900 820,000 40% -
Spain (€) 12 58,700 – 82,000 72,800 75,000 33% -
Sweden (SEK) 6 600,000 – 1,800,000 942,000 726,000 50% -
Switzerland (SFr) 36 98,500 – 235,000 140,200 135,000 33% 19,000
The Netherlands (€) 25 48,000 – 125,000 84,800 89,000 36% 20,000
UAE (UAE Dirham) 17 241,000 – 549,100 424,200 440,000 76% 76,100
United Kingdom (£) 116 40,000 – 180,000 77,600 73,000 66% 15,000
USA (US$) 36 75,000 – 175,000 124,500 125,000 67% 20,000
Total 578
By country in local currency*
The exchange rates used to compile the tables above are given below.
Cur
rency 2011 per
€
*
2011 per US$
*
Australia (AUS$) 1.3468 0.9403
Brazil (Real) 2.2595 1.5774
Canada (CDN$) 1.3873 0.9685
China (Renminbi) 9.1909 6.4165
**Euro (€) 1 0.6980
Hong Kong (HK$) 11.1516 7.7924
Hungary (Forint) 269.023 188.155
India (Rupee) 64.3435 44.9184
Korea (Won) 1524.79 1064.47
Malaysia (Ringgit) 4.2747 2.9843

Cur
rency 2011 per
€
*
2011 per US$
*
Russia (Rouble) 40.5048 28.2775
Singapore (SG$) 1.7374 1.2129
South Africa (Rand) 9.9057 6.9089
Sweden (SEK) 9.1482 6.3860
Switzerland (SFr) 1.1497 0.8023
UAE (Dirham) 5.2602 3.6723
United Kingdom (£) 0.8810 0.6150
USA (US$) 1.4324 1
Exchange rates
2011 2010 2009 2008 2007
France (€) 85,000 80,000 81,000 72,000 81,000
Germany (€) 95,000 90,000 92,750 95,000 90,000
Singapore (SG$) 142,000 147,500 140,000 141,300 149,500
Switzerland (SFr) 135,000 132,800 145,000 130,000 135,000
United Kingdom (£) 73,000 70,000 65,000 67,800 65,000
USA (US$) 125,000 125,000 120,000 117,700 120,000
How salaries have evolved: comparison over 5 years in local currency (median salary)
Compensation trends
by region and country
All of the data below (and indeed
INSEAD’s position in the MBA rankings of
the world’s media) should be interpreted
in the context of widely differing national
employment markets and variations

in exchange rates. Thus, although the
average salary decreased slightly in 2011
(and average sign-on bonus increased
slightly), there are strong regional and
sector-specific counter-trends.
Overall, base salaries ranged from
€10,600 to €250,000 in 2011. The mean
was €86,200 (compared to €87,400
in 2010) and the median was €84,500
(compared to €85,000 the previous year).
As far as specific key recruitment markets
are concerned, salaries remained stable
in the USA while they increased in France,
Germany, Switzerland and the UK and
decreased slightly in Singapore.
In 2011 58% of students received a sign-
on bonus (fractionally down from 59%
in 2010) – with a higher percentage
reported in Korea and Italy and a lower
percentage in Hungary, Germany, Spain
and Switzerland.
Please note that all salary figures quoted
are gross, annual and basic – exclusive of
all extras such as fringe benefits and sign-
on bonuses. Levels of taxation and costs of
living are as variable as the employment
markets themselves.
Overall annual mean salary € 86,200
Overall annual median salary € 84,500
Overall median sign-on bonus* € 17,000

# Range € Mean € Median € % of Sign-on Median
Bonus Sign-on €**
Africa / Near / Middle East 45 24,750 – 144,800 79,800 83,700 67% 15,000
Asia Paci c 159 10,600 – 152,000 76,100 76,000 65% 17,000
Central / Eastern Europe 30 30,600 – 143,900 78,900 81,300 57% 22,500
Latin America 53 44,800 – 193,400 91,000 93,100 57% 15,300
North America 51 54,300 – 126,700 90,300 90,500 65% 14,500
Northern Europe 10 65,800 – 197,300 99,400 85,500 50% 13,200
Southern Europe 37 48,700 – 137,000 72,100 72,000 51% 15,000
Western Europe 269 46,100 – 250,000 93,700 87,500 52% 17,300
Total 654
By region
*
* 58% of salaries overall reported with sign-on bonus
* where at least 5 salaries were reported **where at least 5 sign-on bonuses were reported
* Source: Oanda.com (average exchange rate 01/07/2011 - 31/12/2011)
** European countries represented in the table above include: Belgium,
France, Germany, Italy, Luxembourg, Spain and The Netherlands
16 INSEAD MBA Graduates 2011 INSEAD MBA Graduates 2011 17
Total 286 (92% of total Corporate Sectors)
Top functional areas
All Corporate sectors
“
INSEAD graduates consistently demonstrate the creativity, cultural
awareness, and analytical skills set needed to tackle our varied and
complex challenges. These skills and values have allowed INSEAD
graduates to succeed both within Global Strategy Group, and in line
management positions with Samsung affiliates.
”

Samsung Global Strategy Group
Corporate sectors
2011 was another strong year for
recruitment into the corporate sectors,
which accounted for the employment
of 38% of INSEAD graduates, compared
to 36% in 2010. More specifically, it was
a boom year for high-tech / telecoms
(23% of graduates, up from 14% in
2010) and primary industries, such as
agriculture (7% of graduates, up from
4% in 2010).
In terms of job functions we saw an
increasing number of students going
into corporate planning and business
development. There was also a rise in
the number of graduates who created
their own company.
In addition, there were some notable
geographical trends. The percentage of
students going to work in the corporate
sectors in Latin America doubled in
2011 (from 4% to 8%). Meanwhile the
equivalent percentage fell significantly
for Southern Europe (from 8% in 2010
to 2% in 2011). Within Asia Pacific, India
accounted for a full 20% of those going
to work in the corporate sectors.
After a year of big salary increases in
2010, there was a small fall in the overall

mean salary for the corporate sectors
(from €81,500 to €80,000). However,
there were significant salary increases
in high-tech / telecommunications and
media / entertainment, while salaries
in construction and energy / petroleum
decreased. The number of students
receiving sign-on bonuses remained
stable at 51% with the median sign-on
bonus increasing slightly (from €14,200
to €15,000). The highest average sign-on
bonuses within the sector were found in
consumer & luxury goods.
INSEAD facilitated activities
Career Services / Alumni network 164 53%
Summer job 6 2%
Graduate facilitated activities
Pre-INSEAD employer 34 11%
Own contacts 72 23%
Creating own company 34 11%
TOTAL 310 100%
Advertising / Publishing 1.5%
Construction 2%
Consumer & Luxury Goods 26%
Corporate Services 4.5%
Energy / Petroleum 7%
Healthcare 8%
High-Tech / Telecommunications 23%
Manufacturing* 10%
Media / Entertainment 3.5%

Primary Industries 7%
Public Sector / Social Impact 2.5%
Transportation 0.5%
Travel / Leisure Services 4.5%
Consulting 8%
Corporate Planning / Business Development 23%
Finance 7%
General Management 21%
Marketing / Sales 18%
Production / Operations Management 4%
Research & Development 1%
Rotational Programmes 8%
Technology Management 2%
How did they find their job?
* includes Aeronautics, Automobiles, Electronic Equipment,
Fabricated Metal Products, Miscellaneous Manufacturing
Products, Non Electric Machines.
INSEAD MBA Graduates 2011 19
Corporate Sectors by region
18 INSEAD MBA Graduates 2011
Within Asia Pacific
Within Europe
Africa / Near / Middle East
5%
Asia Paci c
31%
Central / Eastern Europe
3%
Latin America
8%

North America
11%
Northern Europe
1%
Southern Europe
2%
Western Europe
39%
China 15%
Hong Kong 7%
India 20%
Korea 13%
Singapore 35%
Other* 10%
France 18
%
Germany 13
%
Luxembourg 4
%
Russia 4
%
Switzerland 17
%
The Netherlands 6
%
United Kingdom 23
%
Other* 15
%

Total 95
Total 142
* includes countries where fewer than 5 jobs were reported:
Indonesia, Japan, Pakistan, Sri Lanka, Thailand and Vietnam.
* includes countries where fewer than 5 jobs were reported:
Austria, Belgium, Bulgaria, Greece, Hungary, Ireland, Italy,
Kazakhstan, Norway, Romania, Spain, Sweden and Turkey.
20 INSEAD MBA Graduates 2011 INSEAD MBA Graduates 2011 21
By region*
Within Asia Pacific*
China 13 45,200 – 100,000 66,000 62,400 77% 19,800
India 7 12,700 – 81,800 45,000 45,400 57% -
Korea 10 63,000 – 79,600 74,800 76,000 100% 21,700
Singapore 28 20,800 – 115,300 66,300 67,750 39% 14,400
TOTAL 58
Within Africa / Near / Middle East*
United Arab Emirates 5 47,500 – 90,700 70,400 74,000 20% -
TOTAL 5
Within North America*
Canada 7 69,800 – 94,000 81,800 83,200 43% -
United States 18 54,300 – 110,000 83,500 83,300 72% 14,500
TOTAL 25
Within Europe*
France 16 67,000 – 109,800 86,100 85,750 25% -
Germany 14 70,000 – 115,000 92,000 91,500 50% 15,000
Luxembourg 5 75,000 – 90,000 81,000 80,000 100% 25,000
Russia 5 43,400 – 120,000 81,600 80,600 80% -
Switzerland 22 82,400 – 167,300 114,400 110,800 27% 9,200
The Netherlands 7 48,000 – 100,000 74,900 75,000 29% -
United Kingdom 25 46,100 – 123,300 85,300 80,600 64% 11,500

TOTAL 94

# Range
€
Mean
€
Median
€
% of Sign-on Median
Bonus Sign-on
€
**
Africa / Near / Middle East 14 43,400 – 94,120 68,100 67,400 29% -
Asia Paci c 71 10,600 – 133,900 64,400 66,000 58% 17,000
Central / Eastern Europe 9 30,600 – 120,000 66,500 63,000 67% 20,000
Latin America 22 44,800 - 133,300 87,100 86,700 41% 12,700
North America 25 54,300 – 110,000 83,000 83,300 64% 14,500
Southern Europe 8 48,700 – 137,000 83,700 75,000 62% 15,000
Western Europe 91 46,100 – 167,300 92,200 87,500 45% 15,000
TOTAL 240
By sector*
Overall annual mean salary € 80,000
Overall annual median salary € 79,800
Overall median sign-on bonus* € 15,000
By top function*
Corporate Sector salaries
and sign-on bonuses by
region and country

# Range

€
Mean
€
Median
€
% of Sign-on Median
Bonus Sign-on
€
**
Construction 6 30,600 – 125,500 88,000 95,000 50% -
Consumer & Luxury Goods 65 41,500 – 167,300 83,100 79,600 62% 20,500
Corporate Services 8 18,700 – 142,200 104,600 111,600 12% -
Energy / Petroleum 18 43,400 – 119,500 73,400 69,900 44% 15,800
Healthcare 19 37,200 – 129,700 77,900 76,000 68% 14,500
High-Tech /
Telecommunications 51 20,800 – 133,300 75,200 80,000 55% 10,400
Manufacturing 28 10,600 – 126,700 81,500 84,000 46% 14,400
Media / Entertainment 9 46,100 – 115,300 81,300 79,600 33% -
Primary Industries 19 28,200 – 125,500 86,000 83,200 42% 14,500
Travel / Leisure Services 11 12,700 – 121,300 78,200 74,900 45% 9,300
TOTAL 234

# Range
€
Mean
€
Median
€
% of Sign-on Median
Bonus Sign-on

€
**
Consulting 21 54,300 – 120,000 84,100 80,600 86% 19,500
Corporate Planning /
Business Development 61 12,700 – 167,300 83,300 83,000 39% 14,700
Finance 16 36,500 – 110,000 74,600 80,400 75% 17,200
General Management 41 26,800 – 137,000 76,700 75,000 37% 14,500
Marketing / Sales 44 10,600 – 142,200 78,200 75,500 52% 15,000
Production /
Operations Management 9 20,800 – 126,700 69,500 69,800 22% -
Rotational Programmes 25 45,400 – 123,300 86,200 82,400 72% 14,700
Technology Management 5 72,000 – 107,100 86,900 80,600 60% -
TOTAL 222
Brazil 18 44,800 – 133,300 88,900 92,000 39% 16,900
TOTAL 18
Within Latin America*
* 51% of corporate sector salaries were reported with sign-on bonus
* Where at least 5 salaries were reported
** Where at least 5 sign-on bonuses were reported
22 INSEAD MBA Graduates 2011 INSEAD MBA Graduates 2011 23
Within Europe
Total 183
Total 56
Within Asia Pacific
“
With a broad diversity of backgrounds, INSEAD is an important
MBA recruitment pool for BCG. Here we consistently find many
exceptional candidates with sharp analytical minds and strong
leadership capabilities. BCG is looking for smart people who have
the drive, passion, curiosity, and humility to work in client service –

and that is exactly who INSEAD attracts.
”
The Boston Consulting Group
Consulting
After an unusually strong year in
2010, when an extraordinary 44% of
INSEAD graduates went into consulting,
recruitment returned to normal levels in
2011, with 39% joining this sector.
There were no major regional surprises
this year, except perhaps that the
percentage of students going to France fell
slightly, while the percentage going to the
UK, Australia and Malaysia increased.
Contrary to the overall trend, the mean
and median salaries and sign-on bonuses
for the consulting sector increased slightly
in 2011. Consulting salaries increased
particularly in Australia, Singapore and
Switzerland, but decreased in Canada
and Brazil. The percentage of students
reporting a sign-on bonus remained stable
compared to the previous year, at 71%.
By region
11% Africa / Near / Middle East
17% Asia Paci c
6% Central / Eastern Europe
8% Latin America
7% North America
2% Northern Europe

8% Southern Europe
41% Western Europe
How did they find their job?
INSEAD facilitated activities
Career Services / Alumni network 162 53%
Summer job 11 3.5%
Graduate facilitated activities
Pre-INSEAD employer 122 38%
Own contacts 14 4%
Creating own company 5 1.5%
TOTAL 324 100%

Belgium 4%
France 9%
Germany 11%
Italy 7%
Russia 5%
Spain 3%
Switzerland 7%
The Netherlands 9%
United Kingdom 30%
Other* 15%

Australia 25%
China 23%
Malaysia 12%
Singapore 29%
Other* 11%
* includes countries where fewer than 5 jobs were reported:
Austria, Czech Republic, Denmark, Finland, Greece, Hungary,

Norway, Poland, Portugal, Romania, Sweden, Turkey and Ukraine.
* includes countries where fewer than 5 jobs were reported:
India, Indonesia, Hong Kong and Korea.
24 INSEAD MBA Graduates 2011 INSEAD MBA Graduates 2011 25
Consulting salaries and sign-on
bonuses by region and country

# Range
€
Mean
€
Median
€
% of Sign-on Median
Bonus Sign-on
€
**
Africa / Near / Middle East 26 67,700 – 108,300 88,500 94,100 100% 15,100
Asia Paci c 47 41,700 – 152,000 90,600 90,500 85% 14,700
Central / Eastern Europe 18 47,700 – 143,900 88,800 94,000 55% 27,500
Latin America 24 50,700 – 193,400 96,500 93,100 79% 15,400
North America 19 67,300 – 123,100 96,900 97,600 79% 14,500
Northern Europe 5 78,900 – 90,100 83,800 81,000 60% -
Southern Europe 25 55,000 – 82,000 70,000 72,000 56% 12,500
Western Europe 112 61,200 – 250,000 95,200 89,000 61% 18,400
TOTAL 276
By region*
Overall annual mean salary € 91,100
Overall annual median salary € 89,700
Overall median sign-on bonus* € 17,000

Within selected countries*

# Range
€
Mean
€
Median
€
% of Sign-on Median
Bonus Sign-on
€
**
Australia 12 85,300 – 131,800 107,500 110,300 83% 14,900
Belgium 8 73,000 – 110,000 85,700 84,000 87% 28,000
Brazil 18 86,700 – 193,400 104,900 93,300 78% 15,300
Canada 6 94,000 – 108,500 99,500 97,600 67% -
China 10 67,900 – 124,400 88,500 87,700 100% 18,200
France 14 72,000 – 110,000 87,700 85,000 86% 25,000
Germany 16 61,200 – 144,000 100,200 97,000 19% -
Italy 11 70,000 – 75,000 72,000 70,000 91% 12,500
Malaysia 7 49,200 – 103,200 73,250 75,000 86% 14,300
Russia 9 93,000 – 143,900 100,800 95,000 78% 30,000
Singapore 13 50,200 – 106,700 89,100 94,100 77% 14,400
Spain 6 72,000 – 82,000 75,300 75,000 17% -
Switzerland 11 97,000 – 171,500 118,900 117,100 27% -
The Netherlands 15 78,000 – 125,000 90,400 89,000 40% 21,500
United Arab Emirates 12 71,000 – 108,300 89,200 94,100 100% 16,400
United Kingdom 45 78,300 – 161,300 89,600 86,400 82% 17,300
USA 13 67,300 – 123,100 95,700 94,100 85% 10,900
TOTAL 236

* 71% of consulting salaries were reported with sign-on bonus
* Where at least 5 salaries were reported
** Where at least 5 sign-on bonuses were reported
26 INSEAD MBA Graduates 2011
France 8%
Germany 6%
United Kingdom 57%
Other* 29%
INSEAD MBA Graduates 2011 27
By region
6% Africa / Near / Middle East
30% Asia Paci c
3% Central / Eastern Europe
6% Latin America
6% North America
3% Southern Europe
44% Western Europe
By division
By top job title
Within Europe
* includes countries
where fewer than 5 jobs
were reported: Austria,
Belgium, Bulgaria, Georgia,
Greece, Luxemburg,
Romania, Russia, Sweden,
Switzerland, Spain,
The Netherlands,
Turkey and Ukraine.
Total 101

Within Asia Pacific
Total 57
Asset Management 10%
Financial Services 18%
Investment Banking 46%
Private Equity 17%
Venture Capital 9%
China 12%
Hong Kong 21%
India 14%
Singapore 42%
Other* 11%
Analyst 5%
Associate 51%
Manager / Investment Manager 25%
Vice President 3%
Director / Executive 16%
Finance
The upward trend towards pre-crisis
levels of finance recruitment continues –
from 17% of INSEAD graduates in 2009
to 20% in 2010 and 23% in 2011. Within
the sector, there was a particularly big
increase in the percentage of students
who found jobs in private equity, which
now accounts for 17% of recruitment in
finance.
The majority of these appointments in
private equity were in the UK. Indeed,
the UK accounted for 57% of all finance

jobs accepted by INSEAD graduates in
Europe. This is nothing new. However,
the pattern in Asia was particularly
interesting in 2011. While finance
recruitment fell in Singapore, it increased
in Hong Kong and, more notably, in China
and India.
Another distinct trend of 2011 was that
fewer students obtained senior roles,
such as VP or director in finance. In line
with this fact, annual mean and median
starting salaries dropped across all the
finance sub-sectors. In addition, only 46%
of students (compared to 51% in 2010)
reported receiving a sign-on bonus and,
when awarded, sign-on bonuses were
lower on average than last year.
The biggest fall in starting salaries
occurred in Asia Pacific, where the
median was down to €78,000 from
€93,000. However, this may be accounted
for by the geographical shift towards
China and India. In India, the median
salary is particularly low for this sector
at €59,600. In contrast, finance salaries
remained stable in Western Europe and
Singapore and even increased slightly in
North America and Hong Kong.
“
INSEAD remains a leading source for our Associate hiring due to the

high quality students that meet our needs for future leaders. INSEAD
students have an international mind-set and entrepreneurial flair which
corresponds with our culture, values and footprint across the bank.
’’


Standard Chartered Bank
* includes countries where
fewer than 5 jobs were
reported: Indonesia,
Japan, Korea.
How did they find their job?
INSEAD facilitated activities
Career Services / Alumni network 90 47%
Summer job 16 9%
Graduate facilitated activities
Pre-INSEAD employer 23 12%
Own contacts 50 26%
Creating own company 12 6%
TOTAL 191 100%
28 INSEAD MBA Graduates 2011 INSEAD MBA Graduates 2011 29
Within Asia Pacific*
Within Europe*

# Range
€
Mean
€
Median
€

% of Sign-on Median
Bonus Sign-on
€
**
Hong Kong 8 53,400 – 102,200 77,600 78,000 50% -
India 5 52,150 – 74,500 59,900 59,600 60% -
Singapore 19 57,700 – 118,200 87,700 86,500 53% 21,300
TOTAL 32

# Range
€
Mean
€
Median
€
% of Sign-on Median
Bonus Sign-on
€
**
France 5 70,000 – 130,000 90,500 80,000 20% -
Germany 5 80,000 – 100,000 89,000 90,000 40% -
United Kingdom 46 54,300 – 207,400 91,500 80,600 52% 25,600
TOTAL 56
Finance salaries and sign-on
bonuses by region and country
By top job title*
By region*
By division*
Overall annual mean salary € 87,200
Overall annual median salary € 80,600

Overall median sign-on bonus* € 21,300

# Range
€
Mean
€
Median
€
% of Sign-on Median
Bonus Sign-on
€
**
Analyst 9 22,000 – 111,600 72,400 85,000 22% -
Associate 71 24,750 – 207,400 88,400 81,200 65% 25,300
Manager / Investment Manager 35 34,800 – 161,300 82,300 72,600 23% 19,800
Vice President 5 52,150 – 144,000 97,500 103,800 40% -
Director / Executive 16 53,600 – 196,600 97,200 89,600 31% 10,000
TOTAL 136

# Range
€
Mean
€
Median
€
% of Sign-on Median
Bonus Sign-on
€
**
Africa / Near / Middle East 5 24,750 – 144,800 67,200 57,200 20% -

Asia Paci c 41 22,000 – 144, 800 79,800 78,000 56% 21,300
Latin America 7 57,900 – 129,900 83,900 81,600 29% -
North America 7 72,300 – 126,700 98,200 90,500 29% -
Western Europe 66 54,300 – 207,400 93,500 83,100 50% 25,300
TOTAL 126

# Range
€
Mean
€
Median
€
% of Sign-on Median
Bonus Sign-on
€
**
Asset Management 16 57,200 – 126,700 82,600 80,600 44% 16,900
Financial Services 21 43,400 – 196,600 86,800 72,600 24% 20,000
Investment Banking 64 22,000 – 144,800 85,500 80,600 58% 25,300
Private Equity 25 24,750 – 207,400 98,400 90,000 40% 10,800
Venture Capital 10 52,150 – 110,000 77,700 71,800 40% -
TOTAL 136
Within North America*

# Range
€
Mean
€
Median
€

% of Sign-on Median
Bonus Sign-on
€
**
United States 5 86,900 – 126,700 99,900 90,500 - -
TOTAL 5
* 46% of  nance salaries were reported with sign-on bonus
* Where at least 5 salaries were reported
** Where at least 5 sign-on bonuses were reported
30 INSEAD MBA Graduates 2011 INSEAD MBA Graduates 2011 31
We would like to highlight those employers who recruited the highest number of
INSEAD graduates in 2011 and thank them for their continued support.
McKinsey & Company 107 (50)
The Boston Consulting Group 61 (18)
Bain & Company 52 (23)
Booz & Company 29 (19)
Standard Chartered Bank 16 (2)
Roland Berger Strategy Consultants 12 (1)
Samsung 12
A.T. Kearney 11 (2)
Microsoft 11
Amazon 10
Barclays Capital 10
Google 10 (3)
Rocket Internet (Groupon) 9
LVMH 8 (2)
Credit Suisse 6 (2)
Shell International 6 (1)
Siemens AG 6 (2)
HSBC 6

Apple 4
Danaher 4
Marakon 4
Monitor Group 4
Morgan Stanley 4
Nissan Motor Company 4
Syngenta 4
Abbott 3
Accenture 3 (2)
Adidas 3
British Telecom 3
Cargill 3
Citi 3
Deutsche Bank 3
EF Education First 3
KPMG 3
L'Oréal 3
UniCredit SpA 3 (1)
2011 hires 2011 hires
Numbers in brackets are former employees returning to the
organisation after graduation.
Employers of 2011
INSEAD MBA graduates
Top Employers
The INSEAD Partnership
The INSEAD Partnership engages a
growing number of organisations who
participate in advancing the school’s
mission through contributions in support
of research, career services, student life

activities and institutional events.
Partnering with INSEAD opens the door
to unique opportunities for organisations
seeking visibility and impact at
“The Business School for the World”
©
.
INSEAD Partners benefit from the
school’s international presence and
organisations can choose from a growing
range of partnership options under
the following three axes:
Knowledge - supporting strategic
research and teaching initiatives
across the school’s academic centres of
excellence.
Sponsorship - underwriting events and
activities ranging from student clubs to
the INSEAD Leadership Summits.
Careers - aimed specifically at the top
recruiters who look to our 1,000+ MBA
and EMBA students as a source of talent.
The Corporate Relations team provides a
central point of contact and continuity for
organisations seeking to engage with the
school, its faculty and talent through the
INSEAD Partnership. The team provides
partners with an overview of school-wide
activities across its three campuses and
works closely with them to put together

customised partnership packages best
tailored to their needs and field of interest.
Remaining close to business is central to
INSEAD’s values. Our corporate partners
not only provide essential funding for
innovative projects, they also join a global
community that helps the school fulfil its
mission to be “The Business School for
the World”
©
.
For further information about the
INSEAD Partnership and how your
organisation can get involved,
please contact our Corporate
Relations Team:
Ida Le Duc
Tel: +33 1 60 71 26 64

Charlotte Richez
Tel: +33 1 60 72 43 54

INSEAD thanks our 2010/2011
Recruitment Partners for their support!
Accenture
A.T. Kearney
Bank of America Merrill Lynch
Bain & Company
Booz & Company
Citi

Credit Suisse
Deutsche Bank
Egon Zehnder
Emerson
Firmenich
Goldman Sachs
Johnson & Johnson
McKinsey & Company
Novartis
Philip Morris International
Robert Bosch
Roland Berger Strategy Consultants
The Boston Consulting Group
WPP
32 INSEAD MBA Graduates 2011 INSEAD MBA Graduates 2011 33
Copperpebble Solutions
Cornerstone Research
Coronation Fund Managers
CPP Investment Board *
Credit Suisse *
Cummins *

D
dafiti.com.br
Dahlberg Global
Development Advisors
Danaher *
Danone *
Darby Overseas
DaVita *

Deallus Group *
Decision Fuel
Dell *
Deloitte Consulting *
Delta Partners *
Deutsche Bank *
Dextra group
DFS Galleria *
DHL Inhouse Consulting *
Dismatec S.A.
Diverseo
DONG Energy
Doughty Hanson & Co
Dover Investimentos
Dow Chemical *
Dream Incubator
DSM *
DuPont

E
Eastern International
Hotels Ltd
Eastman Kodak *
eBay *
Eco Adapt
Ecobank Transnational Inc
Ecospark
Educational Initiatives India *
EF Education First *
eGENTIC

Egon Zehnder International *
EkStop Private Limited
Eli Lilly *
Ellaktor SA
Elsevier
Emerson *
EMI Music
Ericsson *
Ernst & Young
Essence
European Trade Center
Europraxis *
Even Construtora e
Incorporadora
Expedia *
ExpertPlug
eyal

F
Fangda Partners
farfetch
Fenton Whelan
Ferreira Costa
Fidelity International *
Fidelity Management &
Research Company *
Finance in Motion
FINCA
First Wind
FMC Technologies *

Fokker Aerostructures B.V.
Fondinvest Capital
Freeman Spogli & Co.
FrieslandCampina
frog design
Frontier Strategy Group *
FWC Partners

G
Galactic
Galadari Brothers
Gallup *
Gategroup
General Atlantic
General Electric *
General Motors *
Generation Investment
Management
Genpact
GlaxoSmithKline *
Goldman and Young
Goldman Sachs International *
Google *
Government of Singapore
Investment Corporation
(GIC) *
Groupon *
Guidion

H

Havas Media *
Hay Group
Hearst Magazine
Heidrick & Struggles *
Hewlett-Packard
HF
HgCapital
HIG Capital
Hikma Pharmaceuticals *
Hilti *
Hirdaramani Group
Hollivine Partners, LLC.
Honeywell *
Hope Children’s Hospital
Houlihan Lokey
HSBC *
Huawei Technologies
Hudson Clean Energy

I
i-Admin *
IBM *
iDareYou
IDEX Corporation *
Imerys *
Impetus Trust
IMS Consulting Group *
Inditex *
Infineon
Infosys Technologies *

ING *
Inland Revenue Authority
of Singapore
InMobi
INNO Hospitality
INSEAD
Institute for Personal
Leadership
Intel *
2011 Recruiting Partners
3M *
55Social

A
A.T. Kearney *
AAR Consortium
AB InBev *
ABB
Abbott *
ABSA Capital
Accenture *
ACE
Acsendo
Actis *
Adidas
Aditya Birla Group *
Admiral Group plc *
AdPersonas, Inc
AFK Sistema
African School for Excellence

Airlabs
Akar Hotels
Aker Solutions
AlixPartners
Allianz Capital Partners
GmbH *
Allianz Global Investors
Allseas
Alpinvest Partners *
Alstom
Amadeus *
Amazon *
Amdocs *
American Express *
Ammann Group
Amphenol Corporation *
ANZ Bank *
Apax Partners *
Apple *
Appnexus
Ariston Thermo Group *
Arthur D. Little
Ascent Capital
Asian Development Bank *
AskHerFriends Limited
ASLAN Pharmaceuticals *
AstraZeneca *
Audi AG
Avenida Research
Avenport

AVentures Capital
Avest Partners
Aviance Corporation
Avon *
Axios International *

B
B2W
Bain & Company *
Bank Indonesia
Barclays Capital *
BASF
BBVA
BeCapital Investment Advisor
Becton, Dickinson &
Company *
Bertelsmann AG *
Bharti Airtel Ltd *
BHP Billiton *
Biogen Idec
BlackRock *
BMO Capital Markets *
BNP Paribas
Booz & Company *
Box.net *
BP
Brambles *
Braskem
Breakwater Capital
Bridges Ventures

British American Tobacco
(BAT) *
British Telecom *
Broadpeak
Bubble Motion
Burberry Asia
Burger King

C
C.I.P. Group
Calypso Technology
Canal+ *
Capgemini
Capital Group Companies *
CapitaLand
Cargill *
Carlsberg
Celsa Group *
Centrica plc *
Chanel
Chope Group Pte Ltd
Chrysses Demetriades
& Co. LLC
CIMB Investment Bank *
CIMB Principal
Citi *
City Credit Capital
Clinton Health Access
Initiative *
Cloud Silver Lining

Cobepa
Coca-Cola
CognoLink
Collaborne
Coller Capital *
COMAC Capital
Commercial Insurance
Consulting Point *
Companies in bold recruited at least three MBA Graduates in 2011.
Companies marked * participated in on-campus recruiting activities.
34 INSEAD MBA Graduates 2011 INSEAD MBA Graduates 2011 35
Pontiac Land
Posco Energy
Positivo Informática
PowerStream Inc
PrestaGrupo
PropertyGuru
Prophet Consulting *
Prosperitas
PRTM *
Puma India

Q
Q.Cells *
QNB
Quintiles *

R
Raffles Education
Corporation *

Raicommerce Construction
JSC
Ralph Lauren
Ramsons Garment Finishing
Equipment
Raycap *
Reliance Equity Advisors
Responsible Research *
Risk Management
RO International
Roche *
Rocket Internet
Roland Berger Strategy
Consultants *
Rolls-Royce Plc *
Rompr
Rothschild Bank *
Rouge Partners
Royal KPN N.V.
Russell Investments

S
Sabre Holdings
SAC Capital
Samsung *
Samsung Fire/Marine
Insurance
Sanford C. Bernstein Limited *
Santander *
SAP

Schindler Management Ltd *
Schlumberger
Schlumberger Business
Consulting *
Schneider Electric *
Seabury Group
Seedfund
Sefaira
Shearman & Sterling LLP
Shell International *
ShoreBank International
Siam Cement Group
Siemens AG *
Siemens Management
Consulting *
Sika AG
Singapore Government
SingTel
Sino French Life insurance
SkillKindle India Private
Limited
Skylake Incuvest
Skype
Smart
Société Génerale
Sodexo *
Sofinnova Partners
Solon Management
Consulting *
Solution Providers *

Sony
Sorin Group *
SSY (Simpson, Spence
& Young)
Standard Chartered Bank *
Starwood Hotels & Resorts *
Step Up Capital
STX Desenvolvimento
Imobiliario
Sunrise Brokers ltd
Syngenta *
Synthes *
Systra

T
Tana Africa Capital
TBC Bank
TD Securities
Technical Enterprises
Company
Tencent *
The Beijing Axis *
The Blackstone Group *
The Boston Consulting
Group *
The Parthenon Group *
Thomson Reuters *
Triton Advisors
Turbo Monitoring Ltd

U
UBS *
UniCredit SpA *

V
V Raheja Design Construction
Vale *
Value Partners *
Vinci Energies
VISA Inc
Viscira
Vishwajyot High School
Vodafone *
Volkswagen Consulting
Vo ox l
Votorantim

W
Wish Want Wear
Wood Mackenzie *
WPP Group *

Y
Yahoo
Yum! International

Z
ZS Associates *
Zynga
TOTAL: 455

Intercontinental Hotels Group
International Finance
Corporation *
Invesco
Investment AB Kinnevik
Isac Brandberg AB
Itaú Bank *

J
Jaguar Land Rover *
Jefferies International Ltd *
Jetstar Japan
JFP Holdings Ltd
Johnson & Johnson *
JP Morgan *
Julius Baer

K
Kaiser Associates
Kayak.com
King Street Capital
Management
Kiva *
KKR Capstone *
Koda Ltd
KoFounder Labs
Konus Advisory Group
KPMG
Kundi Networks

L
L.E.K. Consulting *
La Tour d’Argent
Labelux Group GmbH
Lafarge *
Latham & Watkins LLP
Lazard *
Le Food Trading Pte Ltd
Liebherr
LinkedIn *
LivingSocial *
Lloyds Banking Group *
L’Occitane
L’Oréal *
Louis Dreyfus Commodities
Louis Vuitton
Lumi Mobile
Luxola *
Luxottica Group *
LV China *
LVMH *

M
Maaple GmbH
Macquarie
Malaysia Blue Ocean Strategy
Institute
Manchester United
Mangrove Capital Partners
Mapletree Investments

Pte Ltd *
Marakon *
MarketBridge
Massey Knakal Realty
Services
MasterCard *
Mastercard Advisors
Matrix Group
McKinsey & Company *
Medtronic
Mercapital Private Equity
Mercatto Capital Partners
Mercer Consulting *
Merrill Lynch *
Merz Aesthetics Asia Pacific *
Mesoamerica Partners
MET Plc
Metail
Michel Dyens & Co
Michelin
Microsoft *
Millicom International
Cellular
Mitsulift *
Mizuho Corporate Bank
Mobile Financial Services
Africa
Mobile Mandi
Moelis & Company *
Monitor Group *

Montagu PE
Morgan Stanley *
Mountain High Resources
Mubadala Development
Company *

N
National Bank of Greece
Natura *
Nestlé
NewGenCards.com
Nexus-Carbon for
Development *
Nissan Motor Company *
Nokia
Nomura *
North East Healthcare
Novartis *
NTT DATA Institute of
Management Consulting
Nytrosoftware

O
O Boticário
Oaktree Capital
OC&C Strategy Consultants
OceanAir
OD-OS
off7
Oi Telecom

Oliver Wyman
Oman Oil Company
Onkyo
Opera Solutions *
Optionality Consulting
Oracle Corporation *

P
Pacific Alliance
Parasight Ltd
Parkway Health *
PayPal
Paywhere Pte Ltd
Paz Oil Company
PCAS Patient Care
Automation Services
Pepper Tree Pte Ltd
Pepsico *
Permira
Pernod Ricard *
Philip Morris International *
Philips International *
PIMCO *
36 INSEAD MBA Graduates 2011 INSEAD MBA Graduates 2011 37
By Sector
Total 281
Summer internships and
compensation trends
Around 56% of the December 2011 class
reported having a summer internship

(those graduating in July are not
available for summer internships). As
in previous years the average duration
was seven weeks. An impressive 150
companies offered internships to INSEAD
participants in 2011 (up from 145 in
2010) and 22 companies took more than
3 interns. The majority of students used
their summer job to gain experience in
a new company and overall satisfaction
ratings among participants were
very high.
As in previous years, internships in
financial services accounted for the
majority of opportunities with 32% of
graduates reporting an offer in that sector.
The number of internships in consulting,
consumer & luxury goods and energy
grew, while we saw fewer students take
up opportunities in healthcare.
The geographical distribution of
internship opportunities remained
relatively stable, with a small growth in
internships in South America and Africa
/ Near / Middle East. The strong summer
associate recruitment in investment
banking and consulting offered above
average salaries in internships in the UK.
Monthly salaries varied widely from €300
to €12,200.

By region
Total 281
7% Africa / Near / Middle East
33% Asia Paci c
5% North America
5% South America
4% Central / Eastern Europe
3% Southern Europe
43% Western Europe
Advertising / Publishing 0.5%
Asset Management 1%
Construction 0.5%
Consulting 19%
Consumer & Luxury Goods 10%
Corporate Services 1%
Energy / Petroleum 6%
Financial Services 2%
Healthcare 5%
High-Tech / Telecommunications 11%
Investment Banking 23%
Manufacturing 4%
Media / Entertainment 2%
Other 0.5%
Primary Industries 1%
Private Equity 3%
Public Sector / Social Impact 4%
Transportation 0.5%
Travel / Leisure Services 2%
Venture Capital 4%
Within Europe Total 138

Within Asia Pacific
Total 94
France 7%
Germany 12%
Russia 4%
Switzerland 6%
United Kingdom 57%
Other* 14%

China 16%
Hong Kong 5%
India 11%
Singapore 51%
Other * 17%
* includes countries where fewer than 5 jobs were reported:
Austria, Belgium, Georgia, Greece, Ireland, Italy, Luxembourg,
Spain, The Netherlands, Romania and Turkey.
* includes countries where fewer than 5 jobs were reported: Australia,
Cambodia, Indonesia, Japan, Korea, Malaysia, Mongolia, Philippines,
Samoa and Thailand.
38 INSEAD MBA Graduates 2011 INSEAD MBA Graduates 2011 39
Summer jobs: monthly
base salaries
# Range € Median €
Consulting 51 500 – 12,200 6,700
Consumer & Luxury Goods 26 400 – 5,500 2,200
Energy / Petroleum 15 300 – 5,700 4,500
Healthcare 13 350 – 5,600 2,000
High-tech / Telecommunications 27 300 – 7,700 2,900
Investment Banking 61 1,000 – 8,700 6,000

Manufacturing 12 1,200 – 12,200 3,500
Media & Entertainment 4 1,500 – 4,600 1,700
Other Finance 6 2,100 – 6,000 3,200
Private Equity 4 3,500 – 5,700 4,200
Travel / Leisure Services 6 2,000 – 4,500 3,350
Venture Capital 14 500 – 5,700 2,000
# Range € Median €*
Brazil 12 500 – 7,900 6,700
China 12 300 – 3,700 1,600
France 10 800 – 8,000 2,250
Germany 16 400 – 6,000 2,500
Hong Kong 5 3,600 – 6,300 5,700
India 8 500 – 4,500 2,000
Russia 6 3,000 – 10,000 6,750
Singapore 46 600 – 8,600 3,200
Switzerland 8 2,600 – 12,200 7,100
The Netherlands 4 2,500 – 8,500 8,250
United Arab Emirates 6 1,900 – 12,200 5,700
United Kingdom 75 1,000 – 7,400 5,700
USA 6 2,700 – 7,700 4,800
By sector*
By country*
Overall monthly mean salary € 4,400
Overall monthly median salary € 4,500
* Where 4 or more salaries were reported
Exchange rate: Oanda, average for the period: 1/07/11 – 31/08/11
40 INSEAD MBA Graduates 2011 INSEAD MBA Graduates 2011 41

I
Ideiasnet

IFC
IMG
Infosys Technologies
International SOS

J
Jaguar Land Rover
Johnson & Johnson
Jones the Grocer
JP Morgan
JR286
JWT

K
Kenergy

L
Labbrand
Leopard Capital
LinkedIn
Links of London, The Folli
Follie Group
Lions Head Global Partners
Lloyds Banking Group
Longscale
Louis Vuitton

M
M & G Investments
Mariwasa Ceramic Tiles

McKinsey & Company
Metail
Merz
Metier Capital
moksha8 Pharmaceuticals,
Inc.
Monitor Group
Morgan Stanley
Mubadala Development
Company

N
National Semiconductor
Natura
Nestlé
Neuhaus Partners
Newcom Group
Nomura
Novartis
Novusmodus

O
OC&C Strategy Consultants
Oracle Corporation

P
Perella Weinberg Partners
Philips International
Pimco
PlaNet Finance

Planning Management
Consultants

R
Red Bull
Responsible Research
Roland Berger Strategy
Consultants
Rothschild Bank
RTL Interactive

S
Schlumberger Business
Consulting
Shell International
ShopDaily
Siemens AG
SIT (Systematic Inventive
Thinking)
SoLoMoCo
South Pacific Business
Development
SRMG
Standard Chartered Bank
Stanley Black & Decker
STMicroelectronics

T
TBL Mirror Fund
Temasek Holdings

Tencent
The Blackstone Group
The Boston Consulting
Group
The City of London
Tommy Hilfiger
Trekiz

U
UBS
United Nations
UNICEF
UPS

V
Vialux
Virgin Green Fund

W
Warburg Pincus international
LLC
West African Cements
Wootide

TOTAL: 150
Companies which hired
summer interns in 2011

A
A.T. Kearney

Abraaj Capital
Abratable Pte Ltd
Actis
Adidas
Aditya Birla Group
All Property Media Pte Ltd
Allianz Capital Partners
GmbH
Amazon
Ameen
American Express
Amphenol Corporation
Arthur D. Little
Avenport
Avon

B
Bain & Company
Bank of America Merrill
Lynch
Barclays Capital
Becton, Dickinson &
Company
Biogen Idec
BMO Capital Markets
Boond
Booz & Company
Bridges Ventures
British Telecom

C
Caseable
Centrica plc
CIMB Investment Bank
Citi
Commercial Insurance
Credit Agricole
Credit Suisse

D
Dafiti.com.br
Danaher
Danone
Dell
Deutsche Bank
Dexus
DFR
Delta Partners
DSM

E
Earlybird Venture Capital
Ecole Polytechnique
Eli Lilly
ELMA Inc
Endeavor Global
Ericsson
ESPN Star Sports
Estée Lauder
Exploit Technologies

F
Facebook
Fair Trade USA
farfetch
Figr
Founderslink
Frappstar

G
GE Healthcare
GlaxoSmithKline
General Motors International
Operations
Goldman Sachs International
Golien Ltd
Google
Gravity
Groupon

H
Hasso Plattner Ventures
Hach Lange
Heidrick & Struggles
Heinemann Asia Pacific Pte.
Ltd
Herma Limited
Hipoges Iberia
HSBC
Hudson Clean Energy

Companies in bold employed at least 3 interns
42 INSEAD MBA Graduates 2011 INSEAD MBA Graduates 2011 43
Post a job description
At any time during the year, descriptions
of career opportunities (full-time
positions or internships) can be posted
on our user-friendly website, CareerLink,
free of charge and viewed by MBA
participants on both campuses. The
site makes it possible for applicants
to respond directly to the recruiting
organisation.
Contact individuals directly through
the CV Book
The CVs of our MBA participants are
an important recruiting tool, whether
companies plan to recruit on campus
or by direct contact. For each class,
we publish a CV Book, which is also
available online with many useful search
capabilities, such as languages, previous
work experience and educational
background.
Recruit for internships and projects
The January intake has the opportunity
to work on a July–August internship or
project during the two-month summer
break. Managers hiring INSEAD MBA
participants in this way benefit from
having highly motivated, self-starting

individuals work on specific business
issues.
Career Services sponsored events
We arrange many additional events
throughout the year. Examples include:
panel discussions on careers in specific
industries or women’s career issues;
seminars on presentation skills or case
interview techniques; and preparation for
finance interviews. All of these provide
participants with specialised insights
and allow the companies involved to
promote their brand on campus.
Clubs
INSEAD has a wide variety of sector-
specific participant clubs, including
consulting, healthcare, energy, private
equity, marketing, entrepreneurship
and NGOs. Working with the clubs on
their various events enables recruiters
to target – and network with – groups of
motivated participants very efficiently.
For more details on recruiting at INSEAD,
please visit the “Corporate Recruiters”
section of our website:
/>recruiters/
General Enquiries
Europe Campus
Tel: +33 (0)1 60 72 90 06

Asia Campus
Tel: +65 6799 5428

A wide choice of
recruiting methods
The Career Services team provides
advice and assistance for recruiters
throughout the hiring process. We
are committed to working closely
with organisations to find an INSEAD
recruitment strategy that fits their needs.
Recruiters can access 1,000+ MBA,
150+ EMBA and a network of 43,000
Alumni through our offices. Identical
opportunities to hire INSEAD MBAs
are provided twice a year on both of
our campuses (Europe and Asia). The
number of MBA participants taking part in
campus exchanges between Singapore,
Fontainebleau (France) the Wharton
School of Business and Kellogg School of
Management (USA) has stabilized. In 2011
around 71% of participants chose to move
at least once between campuses. Given
such mobility, it is vital that recruitment
messages reach all participants. Ideally,
companies achieve this by having a
physical presence on both campuses or by
taking advantage of our video-conference
facilities. We recommend mixing and

matching the following recruitment
methods according to your needs. Please
do not hesitate to contact us to discuss your
best approach for successful recruitment
at INSEAD.
Recruit on campus
If you wish to build corporate brand
image and increase awareness of your
company’s career opportunities, on-
campus recruitment is usually the
best approach. This consists of a one-
hour presentation usually followed by
a networking cocktail reception, with
interviews held at a later date. Employer
visits take place during the two main
recruitment periods (March–June and
September–December). Interviews can
be arranged on both campuses, taking
advantage of our interview rooms, state-
of-the-art video-conference facilities,
and the web-based interview-scheduling
system on our CareerLink platform.
Participate in a Career Fair
The Career Fair is a great opportunity
to meet and network with outstanding
participants who are interested in posts
in Asia, Europe and beyond. It is also a
convenient way to build a company’s
presence on campus and to meet future
key international decision-makers

and customers – without engaging
the resources required for a formal
presentation.
Participate in a Networking Evening
Participating in a multi-industry
networking evening, where a limited
number of companies are invited, gives
you a chance to network face to face with
students in an exclusive setting.
1,000+ MBA,
150+ EMBA &
a network of
43,000 Alumni
INSEAD MBA Graduates 2011 4544 INSEAD MBA Graduates 2011
Important INSEAD
recruiting guidelines
Non-disclosure of grades: INSEAD’s
selection criteria demand a rigorous
evaluation of intellectual and
professional abilities. To obtain the MBA
degree is a significant achievement. As a
matter of policy, grades are considered
confidential during the recruitment
process. However, participants will be
able to communicate about whether
or not they are on the official Dean’s
List of high performers. Full transcripts
of grades can be obtained only after
graduation.
Equal consideration for participants

on 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 and Kellogg. 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.
For more details on recruiting at INSEAD,
please visit the “Corporate Recruiters”
section of our website:
/>recruiters/
General Enquiries
Europe Campus
Tel: +33 (0)1 60 72 90 06

Asia Campus

Tel: +65 6799 5428

46 INSEAD MBA Graduates 2011 INSEAD MBA Graduates 2011 47
Tonga
Tuvalu
Vanuatu
Vietnam

Central / Eastern Europe
Albania
Armenia
Azerbaijan
Belarus
Bosnia and Herzegovina
Bulgaria (EEA)
Croatia
Czech Republic (EEA)
Estonia (EEA)
Georgia
Hungary (EEA)
Kazakhstan
Kyrgyzstan
Latvia (EEA)
Lithuania (EEA)
Macedonia
Moldova
Montenegro
Poland (EEA)
Romania (EEA)
Russia

Serbia
Slovakia (EEA)
Slovenia (EEA)
Tajikistan
Turkey
Turkmenistan
Ukraine
Uzbekistan
Latin America
Anguilla
Antigua-Barbuda
Argentina
Aruba
Bahamas
Barbados
Belize
Bermuda
Bolivia
Brazil
Cayman Islands
Chile
Colombia
Costa Rica
Cuba
Dominica
Dominican Republic
Ecuador
El Salvador
Falkland Islands
Grenada

Guadeloupe
Guatemala
Guiana
Guyana
Haiti
Honduras
Jamaica
Martinique
Mexico
Montserrat
Netherlands Antilles
Nicaragua
Panama
Paraguay
Peru
Puerto Rico
St Kitts and Nevis
St Lucia
St Vincent and The
Grenadines
Surinam
Trinidad and Tobago
Turks and Caicos Islands
Uruguay
Venezuela
Virgin Islands (British)
Virgin Islands (US)

Near / Middle East
Bahrain

Iran
Iraq
Israel
Jordan
Kuwait
Lebanon
Oman
Palestine
Qatar
Saudi Arabia
Syria
United Arab Emirates
Yemen

North America
Canada
USA
List of countries per region
Africa
Algeria
Angola
Benin
Botswana
Burkina Faso
Burundi
Cameroon
Cape Verde
Central African Republic
Chad
Comoros

Congo
Congo Rep.Dem.
Djibouti
Egypt
Equatorial Guinea
Eritrea
Ethiopia
Gabon
Gambia
Ghana
Guinea
Guinea-Bissau
Ivory Coast
Kenya
Lesotho
Liberia
Libya
Madagascar
Malawi
Mali
Mauritania
Mauritius
Morocco
Mozambique
Namibia
Niger
Nigeria
Reunion
Rwanda
Saint Helena

Sao Tome And Principe
Senegal
Seychelles
Sierra Leone
Somalia
South Africa
Sudan
Swaziland
Tanzania
Togo
Tunisia
Uganda
Zambia
Zimbabwe

Asia Pacific
Afghanistan
American Oceania
American Samoa
Australia
Bangladesh
Bhutan
Brunei Darussalam
Cambodia
China
Christmas Island
Cocos Islands
Cook Islands
East Timor
Fiji

French Polynesia
Guam
Hong Kong
India
Indonesia
Japan
Kiribati
Korea
Lao
Macau
Malaysia
Maldives
Marshall Islands
Micronesia
Mongolia
Myanmar
Nauru
Nepal
New Caledonia
New Zealand
Niue
Norfolk Island
North Korea
Pakistan
Palau
Papua New Guinea
Philippines
Samoa
Singapore
Solomon Islands

Sri Lanka
Taiwan
Thailand
Tokelau