Schools face increased challenges in post-crisis economy, not b-school grads, insists new MBA head
HEC Paris’ Professor Bernard Garrette is firmly optimistic about MBA graduates’ chances in 2011."In an uncertain and fast-moving global environment, being immersed in the exceptional blend of nationalities, academic and professional backgrounds of participants and faculty is a unique experience," he says.
Professor Garrette has been teaching and researching at HEC Paris for over 20 years. Previously a visiting professor at Cambridge and London Business School, Garrette took over the HEC Paris MBA program on 10 January. He graduated with an MSc in Management in 1985 and also gained his PhD in 1991, both from HEC. So clearly he has no worries about finding a job.
But surely there's plenty for business students to worry about. For a start, consider the risk - given total yearly costs of well over $40,000 USD at the average school, aren't many applicants making a potentially unwise choice?
Prof Garrette replies that HEC Paris isn't "Just the average Business School", and so students concerned with securing good starting salaries and quality teaching for their fees would do well to apply. The rank and reputation of the school, along with the track record of its previous students clearly say something to the 2,500 yearly applicants.
And this is all very well for the 15% who actually get into the HEC Paris MBA programme. But what about those who have to settle for a school that isn't top-ranked?
Well, that's where a look at the job market can be encouraging, claims Garrette. Despite dips in '08 and '09, both the consultancy and finance sectors are now on the mend, with hiring figures for the latter nearing pre-recession levels.
Furthermore, new sectors are growing where others have shrunk. Ten per cent of the HEC Paris 2010 MBA class went on to jobs in energy, "largely in positions which focussed on renewables". While Garrette puts this down to "a growth in student interest", he also admits that it could partly be down to France being home to companies like GDF Suez, Areva and Veolia.
However many sources suggest the overall market is still weak. In 2009, only one in four recruiters hired an MBA grad. Graduate hiring was still down overall by 50% in 2010, and many general predictions for 2011 remain grim.
But Professor Garrette points to the recent GMAT Recruiter Survey in which almost 50% of companies who responded expect to hire more MBAs in 2011. Everything considered, "the job market for MBAs has remained consistent over the past years," he insists.
In fact, Professor Garrette claims the real pressure is on individual b-schools. If they are to continue to attract good candidates, they have to make their programmes stand out from the range of rival options.
Increasing the quality of career management and introducing new courses and electives to meet the latest business trends are two ways his own school will move to meet this challenge, he says.
But even if things really are as positive as Professor Garrette claims, students can always improve their chances. The one tip he did give is that many students could use help in getting the most out of new media when job hunting.
"It's not that students overlook these tools, more that they need to be educated in how to use them." He's quick to point out that HEC provides training in getting the most (professionally!) out of websites like LinkedIn and Facebook.
Student Reviews
Cultural experience
I have met the most competent and diverse batch in this school. These people not only thrive on their own but also makes sure that you are doing it with them. The professors will take your had and walk you through all milestones and make sure you are not left behind. I have found their extracurriculars extremely engaging. There was always a room to have social life after academic life. The only hindrance is the location of the school, it is slightly outside city and living in city is expensive.
Internationality and diversity of opportunities
About my programme I would say it is very international and flexible: we have the opportunity to choose exactly the courses we want. But at the same time, the frame of the campus is crucial in students' life and enable us to create friendships.
Great selection of people
While HEC's MBA is highly selective, I really enjoy the type of people HEC's selects to make sure everybody gets the best out of their MBA experience and networking opportunities. Not only it's an incredibly diverse pool of people (~60 nationalities) but most importantly they make sure to let in friendly empathic and curious people.
Best in France for Grande ecole
A prestigious business school. Languages are important. It is better to have a scientific baccalaureate with excellent grades in high school and good assessments.
The courses are well designed as per the latest trends and practicality of learning in stressed upon. Overall, a very good experience.
Diversity and quality of fellow students
Very international and interesting place to be and opens a lot of opportunities, however the administration is very french and facilities are subpar (gym, classrooms) meaning the academic affairs is pretty much useless and lastly we are graded on a curve which can create a toxic environment because of the competition. With that being said the pros outweighs the cons by far.
The quality of the teachers, the campus, the clubs
The school is very international indeed, we have courses with international students and share things with them within the extra academic life (in the social clubs especially). We have great career prospects if we prepare ourselves well - however, the global curriculum is still very finance-oriented, which is a pity for other interesting domains of the company world, which does not rely on finance only. The social clubs are good practice for the management and for now, are quite independent.
HEC Paris awaits you
HEC Paris is really a nice place to do a master's in business. Many classes are useful and interesting (corporate finance, financial accounting, contract law…), some are less - but the curriculum is to be reviewed in the year to come. Regarding the student life, it is incredible, with about 130 clubs, lots of great parties with even greater people. The Jouy campus offers a lot of opportunities to do sports, and you can breathe fresh air every day. HEC also helps a great deal to find an internship or a job.
A dream institute
Enrolling in the HEC MBA was by far the best decision I made for myself. The people and faculty are great, with lots of opportunities to meet people and expand your horizons. Very nice campus where I have had some good running sessions.
The alumni network is superb and very helpful. It also has a good support system for entrepreneurs. Would definitely recommend it!
Good choice for a career boost
The classes were extremely practical and relevant to the current challenges that businesses are facing. You have access to a wide range of professionals and good career prospects once you leave the university.
Cultural experience
I have met the most competent and diverse batch in this school. These people not only thrive on their own but also makes sure that you are doing it with them. The professors will take your had and walk you through all milestones and make sure you are not left behind. I have found their extracurriculars extremely engaging. There was always a room to have social life after academic life. The only hindrance is the location of the school, it is slightly outside city and living in city is expensive.
Internationality and diversity of opportunities
About my programme I would say it is very international and flexible: we have the opportunity to choose exactly the courses we want. But at the same time, the frame of the campus is crucial in students' life and enable us to create friendships.
Great selection of people
While HEC's MBA is highly selective, I really enjoy the type of people HEC's selects to make sure everybody gets the best out of their MBA experience and networking opportunities. Not only it's an incredibly diverse pool of people (~60 nationalities) but most importantly they make sure to let in friendly empathic and curious people.
Best in France for Grande ecole
A prestigious business school. Languages are important. It is better to have a scientific baccalaureate with excellent grades in high school and good assessments.
The courses are well designed as per the latest trends and practicality of learning in stressed upon. Overall, a very good experience.
Diversity and quality of fellow students
Very international and interesting place to be and opens a lot of opportunities, however the administration is very french and facilities are subpar (gym, classrooms) meaning the academic affairs is pretty much useless and lastly we are graded on a curve which can create a toxic environment because of the competition. With that being said the pros outweighs the cons by far.
The quality of the teachers, the campus, the clubs
The school is very international indeed, we have courses with international students and share things with them within the extra academic life (in the social clubs especially). We have great career prospects if we prepare ourselves well - however, the global curriculum is still very finance-oriented, which is a pity for other interesting domains of the company world, which does not rely on finance only. The social clubs are good practice for the management and for now, are quite independent.
HEC Paris awaits you
HEC Paris is really a nice place to do a master's in business. Many classes are useful and interesting (corporate finance, financial accounting, contract law…), some are less - but the curriculum is to be reviewed in the year to come. Regarding the student life, it is incredible, with about 130 clubs, lots of great parties with even greater people. The Jouy campus offers a lot of opportunities to do sports, and you can breathe fresh air every day. HEC also helps a great deal to find an internship or a job.
A dream institute
Enrolling in the HEC MBA was by far the best decision I made for myself. The people and faculty are great, with lots of opportunities to meet people and expand your horizons. Very nice campus where I have had some good running sessions.
The alumni network is superb and very helpful. It also has a good support system for entrepreneurs. Would definitely recommend it!
Good choice for a career boost
The classes were extremely practical and relevant to the current challenges that businesses are facing. You have access to a wide range of professionals and good career prospects once you leave the university.
