When Anke graduated in 2008, none of the jobs she had expected to be there were available
What is the value of an MBA in a crisis? We spoke to Anke Dassler, who graduated from ESMT Berlin in 2008, months before the start of the global financial crisis
The current economic forecast is fairly bleak, making it a particularly uncertain time to apply for business school.
Anke Dassler can understand how prospective students might be feeling. She enrolled on the MBA program at ESMT Berlin. Job prospects disappeared, but she managed to keep her job at KPMG. She now works for Evonik, a chemicals company in Germany.
We spoke to Anke about the lessons she learned from the experience of graduating from business school during a crisis, and asked about her advice for prospective students.
Value of an MBA in a Crisis
Read other stories of MBA graduates from the 2008 financial crash.
When Lehman Brothers crashed in September, this was a signal. None of us had experienced a situation like that, we had all been raised under economic certainty, and then suddenly you realise that they can crash. Towards the end of 2008, it was quite shocking.
What you must keep in mind is that ESMT Berlin, in 2008, was only three years old. We were the third class, the whole school was quite an experiment, and it didn't have the reputation which it has at the moment. It was basically a startup.
Two things that came together—there was the crisis, but also people wondering what we signed up to, we could have gone to Stanford, but now we can’t find jobs. What was the MBA worth at all?
It was quite depressing, a lot of uncertainty, a lot of international students who came to the school with the intent to stay in Europe or Germany, and work for a big company, and all of them had a hard time to get jobs or even get interviews. It took some of our class six to eight months to find a job back then. It was quite difficult.
What were your key takeaways and lessons learned?
When you do an MBA, you see a lot of cases of when companies struggle. We had lots of masterclasses with c-suite level executives from German companies, talked about how they failed, and what it felt like.
If you have a lot of this, it puts things in perspective. Things can happen, it's always a matter of finding inner balance and strength to go through this. It was definitely a crisis, but there are always other things you have to think about. It meant even more that these experiences were shared by other experienced professionals.
What advice would you give to prospective students?
The level of uncertainty is comparable. We don’t know how bad it's going to be, the difference I think is the magnitude.
On a personal level, though, it's comparable. You always look at yourself first and think about where you’re going, so you just have to build up resilience and go through it somehow.
Is now a good time to apply to business school?
I would advise people to think long term. If you’re planning an MBA, do it. Who knows, next year could be even worse.
If you’re in the middle of one already, you should just follow your plans. The investment is always worth it. You’ve probably made up your mind for a reason—like if you’ve quit your job.
The economy will pick up. I would advise someone to look for those case studies, masterclasses, where you can learn from managers about how they acted in tough situations. For me, the MBA is a great place to do that.
Well qualified professors and great connectons with the industry
Well structured programs, great facilities and very good career development team. The alumni relations with the school are great and well maintained and fostered. Overall a great school right in the middle of Berlin.
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The European School of Management and Technology has completely exceeded my expectations. I was blown away by the quality of education here and how much I have learned in such a short amount of time. Every class is made incredibly exciting by the passionate and knowledgeable professors who go above and beyond to ensure that we are fully engaged and learning. I never thought I would enjoy studying so much, but thanks to this school, I am constantly motivated and eager to learn more. The hands-on approach to learning and the challenging yet supportive environment have truly made my educational experience here far better than I could have ever imagined.
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Studying at the European School of Management and Technology has exceeded all my expectations. I thought I was just signing up for a solid business education, but what I got was so much more. Every class is dynamic, with professors who are not just academics but actual leaders in their fields, bringing real-world case studies and fresh insights into every discussion. They make even complex topics exciting and easy to understand by linking theory to what’s happening right now in the global business world. The interactive approach, combined with a diverse group of classmates, makes every class feel like a new challenge and opportunity. I never imagined learning could be this engaging and inspiring.
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ESMT Berlin has been a revelation! I was drawn to its top-tier rankings and location in Germany's vibrant capital, but the experience has shattered my expectations. The education here is exceptionally practical, with professors who are renowned experts and industry veterans. Each class is a high-energy, interactive session that tackles real-world challenges, from strategic innovation to digital transformation. I'm constantly impressed by the diversity of perspectives and expertise among my classmates, who hail from over 50 countries. ESMT's focus on leadership development, entrepreneurship, and social responsibility resonates deeply with me.
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I cannot believe how amazing my experience at the European School of Management and Technology is! I was initially hesitant about going to a business school, but ESMT has exceeded all my expectations. The professors here are not just knowledgeable, but they are passionate about their subjects and make every class exciting and engaging. The education I am receiving here is far better than what I thought it would be, and I am constantly challenged and motivated to learn more. I am so grateful to be a part of such a prestigious and dynamic institution. ESMT truly lives up to its reputation as one of the top business schools in Europe.
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My time here's has been truly exceptional. The professors are supportive and welcoming, creating an ideal learning environment. Various campus activities cater to diverse interests, and hands-on experiences prepare students for their future careers. One area for improvement is the dining options, but overall, I've thoroughly enjoyed my experience.
