A World of Talent Financial Times #1 Global MBA Programme Contents

MBA Employment Statistics 2016

A World of Talent Financial Times #1 Global MBA programme Contents

Introduction 02 A World of Talent 04 Profile of 2016 INSEAD MBA Graduates 07

Employment and CompensationTrends 08 • Job Locations 10 • Career Changes 12 • Compensation Trends by Region and Country 14 • Management Consulting 16 • Financial Services 19 • Technology, Media & Telecommunications (TMT) 22 • Corporate Sectors (excluding TMT) 26 • Entrepreneurship 31

Summer Internships and Compensation Trends 32 • Monthly Base Salaries 33

Employers of 2016 INSEAD MBA graduates 35 • Top Employers 35 • The Corporate Associate Programme 35 • Prominent INSEAD Alumni 36

Working with The Career Development Centre 37

List of Recruiting Organisations 41 List of Countries Per Region 50 89% of our December 2015 and July 2016 graduates had secured employment within 3 months of graduation, a remarkable achievement given the intensive nature of our 10-month global MBA programme and the macro-economic uncertainty in some of our traditional sectors and geographies.

This year, our students chose exciting roles with more than 300 different employers in 68 countries, which represents by far the most global and diverse reach of any top MBA programme. This is made possible thanks to strong employer relations with Introduction nearly 600 companies and an alumni network of more than 52,000 in more than 89% of our 2016 170 countries. In terms of career change, graduates reported nearly 80% of the class changed one employment dimension of sector, function or country, 3 months after with 27% of the class making simultaneous graduation changes in all 3 dimensions.

2016 was a very good year for the INSEAD 46% of the class joined the management MBA, starting with the programme taking consulting sector, up from 43% last year. the #1 slot in the Financial Times global Among those joining management MBA ranking. This accolade added to our consultancy, 34% of them were returning #1 position in the Forbes ranking as the to their former employers. Corporate programme with the highest return on sector hiring has stabilised at 21% of the investment anywhere in the world and to class, with increases in the healthcare, the success of our students and alumni in manufacturing and retail / consumer / luxury securing the #1 global employment rates with sectors, a welcome growth to cushion the the world’s most attractive MBA recruiters. downward trend in hiring within the energy

2 sector. INSEAD’s MBA graduates continue been a great success, with a take-up rate of to be attracted to the technology / media / 97% and very positive feedback from students. telecommunications (“TMT”) and financial Building even more global relationships with services sectors, which accounted for 19% MBA recruiters, the team now has an active and 14% of the class. Similar to previous recruiting relationship with 560 companies, years, 6% of our MBA graduates became resulting in over 6,200 job opportunities for entrepreneurs post-graduation. our 1,000 MBA students.

Looking at remuneration, the average base All these achievements would not have salary was US$103,700 which was a US$2,000 been possible without the support of our (1.9%) decrease over last year. This was global network of recruiters and alumni, driven purely by changes in exchange rates, who continue to advise and hire our MBA which saw local currencies depreciate by talent. I would like to take this opportunity 3.6% against the US$ in 2016. Removing to thank them for their support and currency effects, average base salaries confidence. Together, we will continue to actually increased by 1.7%. Median sign- build INSEAD’s reputation as the Business on and performance bonuses remained in School for the World. line with previous years’, at US$22,800 and US$22,300 respectively.

At the highest level of leadership, INSEAD alumni continue to perform very highly, as reaffirmed by the Financial Times, Graham Hastie (INSEAD MBA‘95J) which ranked us #2 in terms of the number Interim Global Director, of CEOs amongst FT500 companies, with 8 Career Development Centre INSEAD MBA alumni in these roles. Associate Dean, Degree Programmes

2016 was a significant year for the INSEAD careers team, which is made up of 40 professionals on 3 continents. For the first time, we have offered a personal career coach to every MBA student. This initiative has

3 A World of Talent

Leadership positions in major Our campuses in Europe, Asia and the Middle East international rankings provide graduates with a global perspective

Financial Times #1 in the Global MBA Programme 703 ranking in 2016 average GMAT Score (2016)

% Forbes 70 #1 Highest return on investment of any MBA Programme in of participants transfer the world in 2015 between campuses during the year

% Bloomberg 39 Business Week of total participants make up the top five nationalities #2 in the International Full Time MBA ranking in 2016 1. Indian 2. American 3. Chinese 44% QS World’s Top 200 Business Schools of total destinations make up the top five job destinations #1 according to employers in Asia and Europe 1. United Kingdom 2. Singapore 3. United States

FT 500 CEOs 3 minimum #2 8 FT 500 CEOs are INSEAD Alumni languages our MBA students speak on graduation

4 Carolyn Fairbairn MBA’88J Director-General, Confederation of British Industry Arthur Sadoun MBA’98D CEO, Publicis Worldwide Profile of 2016 INSEAD MBA Graduates

Total MBA Average Average Work Graduates 999 Age 29 Years Experience 5.5 Years

30Gender +70x 5Age +4113+x 11Work Experience +383318+x

Female 30% < 26 years 5% 1 – 2 years 11% Male 70% 26 – 28 years 41% 3 – 5 years 38% 29 – 31 years 41% 6 – 7 years 33% > 31 years 13% > 7 years 18%

33Nationality +3012854x 34Education +271197516x 27Pre-MBA Sector +23109764321x Asia Pacific 33% Business / 34% Management Consulting 27% Northern / Southern / 30% Administration Financial Services 23% 27% Western Europe Engineering TMT * 10% 12% 11% North America Economics Retail, Consumer and 9% Central / Eastern 8% Sciences 9% Luxury Goods Europe Law / Political Sciences 7% Manufacturing / 7% 8% Latin America Humanities & Arts 5% Conglomerates / 5% Construction Middle East Media & 1% Africa 4% Communication Energy 6% Other 6% Public Sector / 6% Social Impact Healthcare 4% Corporate Services 3% Primary Industries 2% Transportation 2% Travel / Leisure Services 1%

* TMT includes: Advertising & Publishing, E-Commerce, Information Technology / Telecommunications, Media & Entertainment 7 Employment and Compensation Trends

999 975 17 958

Participants in the two 98% responded Reported not Graduates actively classes completed the to the Employment having started their looking for a job INSEAD MBA programme Statistics survey job search in Dec 2015 and Jul 2016

89% 84% 72%

854 reported having 805 gave us details of 691 reported full salary received at least one their career decision information job offer 3 months after their graduation date

How did they find their job?

# % Career Development Centre / Alumni network 428 53% Pre-INSEAD employer 169 21% Own contacts 91 11%

Summer job * 67 9% Creating own company 50 6% Total 805 100%

* Summer job only open to the December class

Social Impact

Students pursued summer internships and full-time roles in the ~40 Social Impact field across all sectors.

Note: MBA students can benefit from the INSEAD Social Stipend and Loan Forgiveness Award programmes if they accept employment with an organisation registered as a not-for-profit organisation, NGO, public sector organisation, for-profit social venture, or social investment firm.

8 2016 Jobs by Sector Group

Management Consulting 46% Financial Services 14% Technology, Media & Telecommunications E-Commerce / Internet 10% Information Technology / Telecommunications 7% Media / Entertainment / Advertising 2% Corporate Sectors Retail / Consumer & Luxury Goods 6% Manufacturing / Conglomerates 5% Healthcare 4% Education 1% Energy 1% Public Sector / Social Impact 1% Transportation / Logistics 1% Travel & Hospitality 1% 44+1397354211+x Corporate Services 0.5% Primary Industries 0.5%

2016 Jobs by Function

Consulting 48% Finance 12% General Management 11% Leadership Development Programmes 10% Corporate Planning / Business Development 8% Marketing / Sales 5% Project Management 2% * Includes: Administrative, Advertising, Production / Operations Management 2% Communication / PR, Customer Service, 48 Engineering, Human Resource Management, +1211108522+x Other * 2% Legal, Logistics / Purchasing, Medical / Healthcare, Specialised Services, Technology Management

9 Job Locations

68 countries of employment post-graduation

Western / Northern Europe

36% Central / Eastern Europe

North America 3% 8%

Asia Pacific Africa / Middle East 29% Latin America 10% 7% Southern Europe 7%

No single country accounted for more than 14% of jobs Lucy Quist MBA’05J Managing Director (CEO), Airtel Ghana Career Changes

An Appetite for Change Changes of Business Sector

Before INSEAD % Former Management Consultants 78 9% 12% changed sector and/or country and/or function 12% 67%

% 67+129x 27 Former Financial Services Professionals changed all 3 dimensions 34% 33% 48% 19% 14% changed country 34+141933x Former TMT * Professionals

7% 35%

% 52 46% 12% changed sector 35+12467x Former Corporate Sectors Professionals

6% % 16% 63 38% changed function 40%

After INSEAD38+40166x Management Consulting TMT * Corporate Sectors Financial Services

* TMT stands for Technology, Media & Telecommunications 12 Region or Country Changes Nationalities: who stays home and who goes abroad *

Total: 805 Regions # Home Abroad

Central / Eastern Europe 70 31% 69%

North America 83 43% 57%

Southern Europe 89 57% 43%

Africa / Middle East 62 61% 39%

Asia Pacific 272 66% 34%

Northern Europe 6 70% 30%

Latin America 64 72% 28%

Western Europe 159 78% 22%

Within selected nationalities **

Nationalities # Home Abroad

Pakistani 10 10% 90%

Canadian 26 15% 85%

Indian 92 17% 83%

Korean 12 25% 75%

Lebanese 14 29% 71%

Russian 33 30% 70%

Turkish 12 42% 58%

Portuguese 21 43% 57%

Chinese 55 44% 56%

American 57 47% 53%

Australian 16 50% 50%

Belgian 12 50% 50%

French 50 53% 47%

Polish 13 54% 46%

British 29 59% 41%

Spanish 27 59% 41%

German 25 60% 40%

Swiss 10 60% 40%

Japanese 14 64% 36%

Italian 20 65% 35%

Dutch 22 68% 32% * For the list of countries per region, please refer to pages 50 & 51 Brazilian 38 71% 29% ** Includes nationalities with more than 10 participants Singaporean 31 80% 20% 13 Compensation Trends by Country

Overall Annual Overall Annual Overall Median Overall Median Mean Salary Median Salary Sign-on Bonus * Performance Bonus * US$ 103,700 US$ 102,500 US$ 22,800 US$ 22,300 * 65% of salaries overall reported with sign-on bonus and 74% with performance bonus

By Country in # Range Mean Median Median Median Local Currency * Sign-on Performance Bonus ** Bonus **

Australia (A$) 26 100,000 – 194,000 149,500 160,000 30,000 26,000 Belgium (€) 16 56,000 – 106,000 79,200 76,000 22,500 13,250 Brazil (Real) 31 164,400 – 590,500 287,700 280,000 140,800 89,000 Chile (CL Peso) 9 50,000,000 – 79,300,000 63,000,000 63,700,000 20,830,600 25,528,000 China (RMB) 29 240,000 – 919,000 710,000 728,000 200,000 200,000 Denmark (DKK) 5 725,000 – 894,000 796,000 805,000 - - France (€) 41 60,000 – 120,000 84,700 85,000 25,000 17,000 Germany (€) 31 40,000 – 120,000 91,100 92,400 15,000 15,000 Hong Kong (HK$) 13 600,000 – 1,469,000 934,900 840,000 188,000 - India (Rupee) 6 2,600,000 – 6,000,000 3,600,300 3,200,000 - - Italy (€) 13 56,400 – 120,000 75,900 70,000 10,000 21,000 Japan (Y) 8 6,000,000 – 13,500,000 9,900,200 9,250,000 2,000,000 3,200,000 Korea (Won) 8 84,000,000 – 163,200,000 124,400,800 128,206,000 46,620,000 25,641,000 Nigeria (NGN) 5 15,000,000 – 27,100,000 18,800,000 17,000,000 - - Poland (PLN) 7 250,000 – 522,000 365,800 348,000 - 90,000 Portugal (€) 9 34,000 – 75,000 60,600 65,000 17,500 13,000 Russia (Ruble) 6 4,000,000 – 7,210,000 6,254,000 6,517,000 - - Singapore (S$) 75 36,000 – 200,000 133,800 140,000 20,000 25,500 South Africa (Rand) 5 600,000 – 1,800,000 1,020,700 900,000 - - Spain (€) 19 50,000 – 90,000 75,700 80,000 20,000 16,000 Switzerland (CHF) 21 105,000 – 200,000 134,900 135,000 16,000 20,000 The Netherlands (€) 26 59,400 – 135,000 86,900 90,000 20,000 15,000 Thailand (THB) 5 1,200,000 – 3,425,000 2,800,000 3,400,000 - 1,100,000 UAE (Dirham) 50 300,000 – 750,000 483,900 478,000 91,800 119,400 United Kingdom (£) 99 20,000 – 144,000 79,300 80,000 20,000 20,000 USA (US$) 50 60,000 – 190,000 132,400 130,000 25,000 25,000 Total 613

* Where at least 5 salaries were reported ** Where at least 5 bonuses were reported

14 By Region # Range Mean Median Median Median US$ US$ US$ Sign-on Performance Bonus US$ ** Bonus US$ **

Africa / Middle East 71 24,000 – 204,100 119,400 130,000 25,000 28,600 Asia Pacific 184 22,400 – 189,200 99,700 103,300 18,200 22,200 Central / Eastern Europe 20 33,400 – 133,500 87,800 90,600 24,500 23,000 Latin America 51 33,500 – 200,000 84,050 80,500 31,500 26,700 North America 53 60,000 – 190,000 131,300 130,000 25,000 30,000 Northern Europe 10 69,000 – 142,200 110,100 116,200 27,800 27,800 Southern Europe 49 37,800 – 140,400 82,000 79,000 20,000 17,800 Western Europe 253 28,100 – 203,800 105,500 102,500 24,500 20,400 Total 691

How Salaries have Evolved with Selected Countries: comparison over 5 years in local currency (median salary)

2016 2015 2014 2013 2012

Brazil (Real) 280,000 250,000 230,000 230,000 227,000 France (€) 85,000 80,000 80,000 82,800 85,000 Germany (€) 92,400 95,000 95,000 96,000 90,600 Singapore (S$) 140,000 140,000 145,000 120,000 135,000 Switzerland (CHF) 135,000 135,000 135,000 126,000 136,000 United Kingdom (£) 80,000 75,000 75,000 73,000 74,000 USA (US$) 130,000 120,000 128,000 130,000 122,000

Exchange Rates *** The exchange rates used to compile the tables above are given below

Currency per US$ Currency per US$ Currency per US$

Australia (A$) 0,74 India (Rupee) 0,0148 South Africa (Rand) 0,0668 Brazil (Real) 0,2806 Japan (Y) 0,0091 Switzerland (CHF) 1,019 Chile (CL Peso) 0,0014 Korea (Won) 0,0008 Thailand (THB) 0,0282 China (RMB) 0,1522 Nigeria (NGN) 0,0044 UAE (Dirham) 0,2722 Denmark (DKK) 0,1494 Poland (PLN) 0,2556 United Kingdom (£) 1,4037 Eurozone (€) 1,1132 Russia (Ruble) 0,0146 USA (US$) 1 Hong Kong (HK$) 0,1288 Singapore (S$) 0,7273

* Where at least 5 salaries were reported ** Where at least 5 bonuses were reported *** Source: Oanda.com - average exchange rate 01/12/2015 – 30/09/2016 - from graduation date of 1st class (15D) to 3 months out of 2nd class (16J)

15 Management Consulting

The management consulting sector continues to recruit large numbers of our talented MBA students, attracting 46% of this year’s graduates, up from 43% last year, of which, 34% were graduates returning to their former employers. Our high quality students and global reach means that we are the #1 source of talent for sector leaders McKinsey & Company, The Boston Consulting Group and Bain & Company. Among those who have joined the management consulting sector, 25% of them will be based in Asia (compared to 22% in 2015), taking away geographical share from Europe (falling from 48% in 2015 to 45% in 2016), with the share of the other regions largely unchanged. This mix mirrors the growth expectations of these regions. Average salaries remained mostly flat for most regions, with the exception of Asia and the Americas. In Asia, average base salary increased by around 3% while the average base salary fell by 4.3% for the Americas. The fall in average salary in the Americas is mainly due to exchange rate impact and the reversal in regional mix between Latin America (65% in 2016 vs 33% in 2015) and North America (35% in 2016 vs 67% in 2015). This brought the overall average down despite the rise in average salary in the North and Latin America regions of 11% and 17% (without currency effects), respectively.

30By Region +25169542x 27Within Europe +10987654x 30Within Asia Pacific +2619520x Western Europe 30% United Kingdom 27% Singapore 30% Asia Pacific 25% The Netherlands 10% Australia 26% Africa / Middle East 16% France 9% China 19% Southern Europe 9% Germany 8% India 5% Latin America 9% Italy 7% Other ** 20% North America 5% Spain 6% ** Includes countries where fewer than 5 jobs Central / Eastern Europe 4% Belgium 5% were reported: Hong Kong, Indonesia, Northern Europe 2% Switzerland 5% Japan, Korea, Malaysia, Philippines, Taiwan Poland 4% and Thailand Denmark 4% Portugal 4% Russia 4% Other * 7%

* Includes countries where fewer than 5 jobs were reported: Austria, Georgia, Greece, Hungary, Ireland, Norway and Turkey 74Within Africa / Middle+917x East United Arab Emirates 74% South Africa 9% Other *** 17%

*** Includes countries where fewer than 5 jobs were reported: Ghana, Israel, Jordan, Lebanon, Nigeria, Saudi Arabia and Morocco

How did they find their job?

55.5% 34% 3% 7% 0.5%

Career Development Centre / Alumni network Own contacts Creating own company Pre-INSEAD employer Summer job ****

**** Summer job only open to the December class 16 Management Consulting Salaries and Bonuses

Overall Annual Overall Annual Overall Median Overall Median Mean Salary Median Salary Sign-on Bonus * Performance Bonus * US$ 107,300 US$ 109,500 US$ 25,000 US$ 24,500 * 76% of consulting salaries were reported with sign-on bonus and 83% with performance bonus

By Region # Range Mean Median Median Median US$ US$ US$ Sign-on Performance Bonus US$ ** Bonus US$ **

Africa / Middle East 55 24,000 – 204,100 120,800 130,000 25,000 30,000 Asia Pacific 83 38,700 – 145,500 107,700 113,500 19,000 27,900 Central / Eastern Europe 13 46,800 – 133,500 94,400 92,000 24,500 23,000 Latin America 31 46,100 – 165,700 83,500 81,300 34,100 28,100 North America 17 135,000 – 190,000 152,700 145,000 25,000 34,500 Northern Europe 6 108,300 – 142,200 122,800 120,400 - 27,800 Southern Europe 33 37,800 – 133,600 80,500 77,900 17,800 17,800 Western Europe 104 57,900 – 154,900 108,500 109,500 27,800 20,000 Total 342

Within Selected # Range US$ Mean Median Median Median Countries * US$ US$ Sign-on Performance US$ ** Bonus US$ **

Australia 23 74,000 – 143,600 113,600 118,400 24,100 20,700 Belgium 9 62,300 – 100,200 83,500 83,500 27,800 13,900 Brazil 22 46,100 – 165,700 81,700 79,800 43,600 25,000 Chile 5 91,300 – 96,200 94,200 94,600 30,600 39,000 China 17 76,100 – 139,000 117,400 121,800 26,600 41,100 Denmark 5 108,300 – 133,600 119,000 120,200 - 27,800 France 16 83,500 – 126,300 98,000 94,600 27,800 17,000 Germany 10 67,000 – 122,500 105,400 114,100 - 17,000 Italy 11 71,200 – 133,600 84,000 77,900 11,100 23,400 Poland 7 63,900 – 133,500 93,500 89,000 - 23,000 Portugal 6 37,800 – 83,500 69,600 72,400 17,000 11,100 Singapore 23 61,100 – 145,500 110,100 113,500 16,800 25,500 Spain 11 66,800 – 91,500 85,400 89,100 22,300 17,800 Switzerland 8 137,600 – 154,900 140,100 137,600 - 20,400 The Netherlands 16 79,000 – 111,300 97,900 100,200 22,300 20,000 United Arab Emirates 42 90,000 – 204,100 134,300 130,000 25,000 35,500 United Kingdom 41 91,200 – 154,400 117,300 115,100 28,100 26,700 USA 16 140,000 – 190,000 153,800 145,000 27,500 35,000 Total 288

* Where at least 5 salaries were reported ** Where at least 5 sign-on bonuses or performance bonuses were reported 17 Karien van Gennip MBA’95D CEO, ING France Financial Services

The proportion of INSEAD MBA graduates joining the financial services sector fell to 14% in 2016 from 15% in 2015, mirroring trends in the external environment. Within the financial services sector, more than half of our graduates chose investment-related roles. Among them, more than half are joining Private Equity / Venture Capital firms and more than one-third investment banking. Private Equity / Venture Capital continue to be an area that attracts graduates, growing by 11% in 2016 compared to the previous year. Whilst there is a reduction in hiring of front offices roles in the sector, demand for middle and back office roles remains high, making up 16% of total hiring within the financial services sector. Opportunities are still concentrated in Asia Pacific and Western Europe with preference at the hubs (Singapore and Hong Kong in Asia and London in Europe). Unsurprisingly, average salaries for the financial services sector fell in 2016 by around 3% to US$ 105,100.

52Within Europe +1533x 47By Region +2676541x 24Within Asia Pacific +241735x United Kingdom 52% Western Europe 47% Hong Kong 24% France 15% Asia Pacific 26% Singapore 24% Other * 33% Latin America 7% India 17% Africa / Middle East 6% Other ** 35% Southern Europe 5% * Includes countries where fewer than Central / Eastern 4% ** Includes countries where fewer than 5 jobs were reported: Czech Republic, Europe 5 jobs were reported: Australia, China, Germany, Norway, Portugal, Russia, Indonesia, Japan, Korea, Myanmar North America Spain, Switzerland, The Netherlands 4% and Thailand and Turkey Northern Europe 1%

31By Sub-Sectors +26251251x 53By Top Job Title +131065x Private Equity / Venture Capital 31% Associate / Senior Associate 53% Investment Banking / Sales & Trading 26% Founder / CEO 13% Investment Management / Hedge Funds 12% Vice President / Director 13% Real Estate 5% Manager / Consultant 10% Insurance 1% Analyst (Asset Management) 6% Other Financial Services 25% Other 5%

How did they find their job? 30% 16% 25% 17% 12%

Career Development Centre / Alumni network Own contacts Creating own company Pre-INSEAD employer Summer job ***

*** Summer job only open to the December class 19 Financial Services Salaries and Bonuses

Overall Annual Overall Annual Overall Median Overall Median Mean Salary Median Salary Sign-on Bonus * Performance Bonus * US$ 105,100 US$ 106,200 US$ 35,600 US$ 37,300 * 42 % of finance salaries were reported with sign-on bonus and 59% with performance bonus

By Sub-Sector * # Range Mean Median Median Median US$ US$ US$ Sign-on Performance Bonus US$ **Bonus US$ **

Investment Banking / Sales & Trading 28 58,200 – 167,500 107,100 112,300 43,500 40,500

Investment Management / Hedge Funds 9 67,000 – 200,000 110,400 89,100 - 46,900

Other Financial Services 18 33,900 – 147,800 89,100 91,700 24,700 20,400

Private Equity / Venture Capital 27 55,700 – 202,100 112,500 106,900 22,300 56,150

Real Estate 5 54,800 – 180,000 104,600 80,000 - -

Total 87

By Top Job Title * # Range Mean Median Median Median US$ US$ US$ Sign-on Performance Bonus US$ ** Bonus US$ **

Analyst 5 66,800 – 200,000 114,200 77,900 - -

Associate / Senior Associate 56 33,900 – 168,450 106,000 106,800 40,700 45,400

Manager / Consultant 9 54,800 – 147,800 87,000 77,900 - 22,300

Vice President / Director 10 72,750 – 202,140 121,600 120,800 - 29,300

Total 80

* Where at least 5 salaries were reported ** Where at least 5 sign-on bonuses or performance bonuses were reported

20 By Region * # Range Mean Median Median Median US$ US$ US$ Sign-on Performance Bonus US$ ** Bonus US$ **

Africa / Middle East 7 74,900 – 180,000 122, 200 120,000 - -

Asia Pacific 20 33,900 – 167,500 95,400 91,700 24,900 38,500

Latin America 6 58,900 – 200,000 92,000 72,900 - 43,100

Western Europe 45 42,100 – 202,100 108,700 106,900 40,000 35,600

Total 78

Within Europe * # Range Mean Median Median Median US$ US$ US$ Sign-on Performance Bonus US$ ** Bonus US$ **

France 8 72,400 – 133,600 90,400 82,900 - 27,800

United Kingdom 29 42,100 – 202,100 112,400 112,300 40,700 42,100

Total 37

Within Asia Pacific * # Range Mean Median Median Median US$ US$ US$ Sign-on Performance Bonus US$ ** Bonus US$ **

Hong Kong 7 80,000 – 167,500 124,100 135,300 - -

Singapore 5 58,200 – 119,300 84,200 76,400 - -

Total 12

* Where at least 5 salaries were reported ** Where at least 5 sign-on bonuses or performance bonuses were reported

21 Technology, Media & Telecommunications

This year, there is a slight decrease in the proportion of graduates entering the TMT sector from 21% in 2015 to 19%. The small dip in the proportion of MBA graduates joining the sector within 3 months of graduation is driven by the hiring practices and the dynamic nature of the TMT sector. The split across sub-sectors stays largely unchanged. There’s a slight increase in IT / Telecommunications and Media balanced with a small dip in e-commerce related jobs. However, there are more graduates entering leadership development programmes (35%) compared to last year (22%) as the sector begins to structure its hiring process and plans for expansion into new markets and for succession. Western Europe, Asia Pacific and North America continue to dominate the regional distribution of our TMT graduates with China and the UK leading the skew. Salaries rose on the whole for TMT by ~3% with Media companies leading the rise, whilst salaries in IT / Telecommunications stayed relatively consistent with prior years.

By Sub-Sector

E-Commerce / Internet * 54% Information Technology / 36% Telecommunications ** Media / Entertainment / Advertising 10%

* Includes: Online Travel, Online Fashion, Online Retail, Online Food Delivery, Collaborative Economy, Social Media, Payments and Online Services ** Includes Computer Software, Hardware, 54+3610x Consumer Electronics, Semiconductors By Function

Leadership Development Programmes 35% General Management 18% Corporate Planning / Business Development 15% Marketing / Sales 14% Production / Operations Management 7% Consulting 3% Project Management 3% Technology Management 2% Finance 1% 35+1815147321x Other 2%

How did they find their job? 66% 1% 12% 11% 10%

Career Development Centre / Alumni network Own contacts Creating own company Pre-INSEAD employer Summer job ***

*** Summer job only open to the December class 22 41+3217321x 51+1435x 41Within Europe +15131120x By Region Within Asia Pacific

Western Europe 41% Singapore 51% United Kingdom 41% Asia Pacific 32% China 14% France 15% North America 17% Other * 35% Luxembourg 13% Africa / Middle East 3% Germany 11% Southern Europe 3% Other ** 20% Central / Eastern Europe 2% * Includes countries where fewer than ** Includes countries where fewer Latin America 1% 5 jobs were reported: Australia, than 5 jobs were reported: Austria, Hong Kong, India, Indonesia, Japan, Gibraltar, Ireland, Portugal, Russia, Northern Europe 1% Korea, Pakistan, Taiwan and Vietnam Serbia, Spain, Sweden, Switzerland, The Netherlands and Turkey

Company Size 1 - 500 25%

By Company Size 8By Company Size 1-500+243137x +21025x Number of Employees61 Number of Employees

> 10 000 61% 201 - 500 8% 5001 - 10 000 2% 51 – 200 24% 1001 - 5000 10% 11 - 50 31% 501 - 1000 2% 1 - 10 37% 1 - 500 25%

23 Technology, Media and Telecommunications Salaries and Bonuses

Overall Annual Overall Annual Overall Median Overall Median Mean Salary Median Salary Sign-on Bonus * Performance Bonus * US$ 98,600 US$ 99,500 US$ 21,100 US$ 20,000 * 67% of TMT salaries were reported with sign-on bonus and 63% with performance bonus

By Function * # Range Mean Median Median Median US$ US$ US$ Sign-on Performance Bonus US$ ** Bonus US$ **

Corporate Planning / 20 53,400 – 150,000 102,700 103,500 15,000 21,250 Business Development

Consulting 5 77, 300 – 125,000 101,400 106,900 - -

General Management 14 26,200 – 150,000 97,700 111,100 10,000 20,800

Marketing / Sales 19 36,900 – 150,000 90,500 85,200 14,000 13,600

Production / Operations Management 9 48,900 – 130,000 91,700 85,100 30,000 22,300

Leadership Development Programmes 50 43,500 – 140,000 99,800 102,200 27,800 18,900

Total 117

* Where at least 5 salaries were reported ** Where at least 5 sign-on bonuses or performance bonuses were reported

24 By Sub-Sector * # Range Mean Median Median Median US$ US$ US$ Sign-on Performance Bonus US$ ** Bonus US$ **

E-Commerce / Internet 65 26,200 – 150,000 98,000 98,000 28,100 20,000 Information Technology / 50 28,100 – 150,000 96,400 97,900 17,400 20,000 Telecommunications Media / Entertainment / Advertising 11 65,800 – 150,000 113,000 114,300 - 15,400 Total 126

See page 22 for details of sub-sectors

By Region * # Range Mean Median Median Median US$ US$ US$ Sign-on Performance Bonus US$ ** Bonus US$ **

Asia Pacific 36 26,200 – 137,000 89,000 90,900 12,100 16,700 North America 23 85,000 – 150,000 123,900 125,000 20,000 20,000 Southern Europe 5 66,800 – 140,400 97,500 94,600 - 20,000 Western Europe 56 28,100 – 133,600 96,600 98,000 27,800 19,500 Total 120

Within Europe * # Range Mean Median Median Median US$ US$ US$ Sign-on Performance Bonus US$ ** Bonus US$ **

France 10 73,300 – 114,700 93,700 92,400 20,600 18,900 Germany 8 44,500 – 133,600 87,900 89,100 - 44,500 United Kingdom 24 28,100 – 124,900 101,800 102,500 35,100 21,100 Total 42

Within Asia Pacific * # Range Mean Median Median Median US$ US$ US$ Sign-on Performance Bonus US$ ** Bonus US$ **

China 5 80,400 – 137,000 100,650 99,000 - 17,200 Singapore 21 26,200 – 119,300 91,400 90,900 11,300 14,500 Total 26

* Where at least 5 salaries were reported ** Where at least 5 sign-on bonuses or performance bonuses were reported

25 Corporate Sectors

The percentage of INSEAD MBA graduates joining corporate sectors remained stable at 21% in 2016. Average base salaries saw an increase, up by almost 5% after removing currency effects. The healthcare, manufacturing / conglomerates and retail / consumer / luxury goods sectors formed the bulk of the increase in hiring within the corporate sector, hiring 71% of graduates going into the sector. The healthcare sector has proven to be recession-proof, with hiring activity growing aggressively and doubling the number of INSEAD MBA hires in 2016 compared to the previous year. The retail / consumer / luxury goods sector also saw a similar growth, increasing its hiring of INSEAD MBAs by 40% and paying an average base salary that was 16% higher than the previous year. This development is a welcome growth in light of the decline in hiring within the energy and primary industries sectors, which decreased to 8% in 2016 from 17% the year before. The outlook for these sectors remains challenging amid low oil and commodity prices, and is reflected in the reduced number of hires and lower average base salaries.

By Sub-Sector

Retail / Consumer & Luxury Goods 29% Manufacturing / Conglomerates * 22% Healthcare 20% Energy 6% Education 5% Travel / Leisure Services 5% Public Sector / Social Impact 5% Transportation / Logistics 5% Primary Industries ** 2% Corporate Services 1%

* Includes Automotive, Building Materials, Construction, 29+22206521x Electrical / Electronic Manufacturing, Mechanical or Industrial Engineering ** Includes Chemicals, Mining & Metals

By Function

General Management 22% Corporate Planning / Business Development 17% Leadership Development Programmes 14% Marketing / Sales 11% Finance 9% Consulting 8% Project Management 6% 22+17141198613x Other 13% How did they find their job? 52% 15% 20% 2% 11%

Career Development Centre / Alumni network Own contacts Creating own company Pre-INSEAD employer Summer job ***

*** Summer job only open to the December class 26 45+12111022x 16Within Europe +141210721x 7By Region +36287632x Within Asia Pacific

Asia Pacific 36% Singapore 45% Germany 16% Western Europe 32% China 12% France 14% Latin America 8% India 11% Switzerland 12% Africa / Middle East 7% Korea 10% Belgium 10% North America 7% Other * 22% The Netherlands 10% Southern Europe 6% United Kingdom 10%

Central / Eastern Europe 2% Spain 7% Northern Europe 2% Other ** 21%

* Includes countries where fewer than ** Includes countries where fewer than 5 jobs were reported: Hong Kong, 5 jobs were reported: Austria, Finland, Indonesia, Japan, Nepal, Philippines, Greece, Italy, Kazakhstan, Latvia, +65229x 58 Thailand and Vietnam Liechtenstein, Norway, Portugal, Romania and Russia

Company Size 1 - 500 29%

By Company Size 14By Company Size 1-500+332231x Number of Employees Number of Employees

> 10 000 58% 201 - 500 14% 5001 - 10 000 6% 51 – 200 33% 1001 - 5000 5% 11 - 50 22% 501 - 1000 2% 1 - 10 31% 1 - 500 29%

27 Corporate Sectors Salaries and Bonuses (excluding Technology, Media & Telecommunications)

Overall Annual Overall Annual Overall Median Overall Median Mean Salary Median Salary Sign-on Bonus * Performance Bonus * US$ 98,300 US$ 100,200 US$ 20,200 US$ 19,300 * 52% of corporate sector salaries were reported with sign-on bonus and 73% with performance bonus

By Sub-Sector * # Range Mean Median Median Median US$ US$ US$ Sign-on Performance Bonus US$ ** Bonus US$ **

Education 7 81,700 – 140,000 109,200 105,300 10,000 -

Energy 9 50,100 – 144,700 97,300 108,000 - 17,300

Healthcare 29 29,100 – 160,000 96,100 94,600 15,300 15,300

Manufacturing / Conglomerates 32 46,800 – 189,200 107,100 109,500 22,300 22,000

Public Sector / Social Impact 5 22,400 – 90,000 65,400 64,500 - -

Retail, Consumer & Luxury Goods 37 33,500 – 203,800 98,100 98,300 15,400 22,300

Transportation / Logistics 6 65,500 – 163,000 97,900 88,100 - -

Travel & Hospitality 5 55,700 – 108,200 85,900 94,800 - -

Total 130

By Function * # Range Mean Median Median Median US$ US$ US$ Sign-on Performance Bonus US$ ** Bonus US$ **

Consulting 13 46,800 – 140,000 100,200 110,000 26,900 20,000

Corporate Planning / 23 33,500 – 144,700 97,500 100,200 10,700 14,200 Business Development

Finance 13 22,400 – 140,000 87,600 80,700 24,300 14,500

General Management 18 29,100 – 160,000 94,900 100,100 10,200 22,500

Leadership Development Programmes 24 42,100 – 128,000 100,700 105,900 21,700 16,700

Marketing / Sales 15 66,800 – 189,200 99,100 89,100 15,200 20,000

Project Management 10 50,900 – 140,000 91,100 90,300 16,700 18,200

Total 116

* Where at least 5 salaries were reported ** Where at least 5 sign-on bonuses or performance bonuses were reported

28 By Region * # Range Mean Median Median Median US$ US$ US$ Sign-on Performance Bonus US$ ** Bonus US$ ** Africa / Middle East 7 64,500 – 160,000 110,600 108,000 - - Asia Pacific 45 22,400 - 189,200 95,200 98,200 21,300 20,000 Latin America 13 33,500 – 128,900 84,400 85,600 - 22,500 North America 10 60,000 – 140,000 108,500 120,000 25,000 20,000 Southern Europe 7 50,100 – 111,300 80,400 89,100 - - Western Europe 48 66,100 – 203,800 106,300 106,100 16,700 16,700 Total 130

Within Europe * # Range Mean Median Median Median US$ US$ US$ Sign-on Performance Bonus US$ ** Bonus US$ ** Belgium 7 77,900 – 118,000 94,100 100,200 22,300 15,900 France 7 66,800 – 122,500 90,800 84,600 - - Germany 10 89,100 – 128,000 108,900 111,400 17,800 15,000 The Netherlands 7 66,100 – 122,500 91,700 89,100 20,600 12,700 Switzerland 9 107,000 – 203,800 137,900 122,300 12,700 20,400 United Kingdom 5 98,300 – 112,300 102,500 98,300 14,000 - Total 45

Within Asia Pacific * # Range Mean Median Median Median US$ US$ US$ Sign-on Performance Bonus US$ ** Bonus US$ ** China 6 67,600 – 140,000 99,900 99,100 - 22,300 Korea 6 85,800 – 140,000 111,000 110,000 40,000 22,000 Singapore 26 29,100 – 126,700 93,400 97,100 13,100 18,200 Total 38

Within Latin America * # Range Mean Median Median Median US$ US$ US$ Sign-on Performance Bonus US$ ** Bonus US$ ** Brazil 5 60,300 – 111,100 85,200 88,800 - - Total 5

Within North America * # Range Mean Median Median Median US$ US$ US$ Sign-on Performance Bonus US$ ** Bonus US$ ** USA 9 60,000 – 140,000 113,000 120,000 25,000 20,000 Total 9

* Where at least 5 salaries were reported ** Where at least 5 sign-on bonuses or performance bonuses were reported

29 Roger Egan III MBA’10D Co-Founder & CEO, RedMart Entrepreneurship 6% of the 2016 graduates are entrepreneurs

64By Type of Company Created+1684x 46By Region +201242x

Startup 64% Asia Pacific 46% Returning to Own Venture 16% Western Europe 20% Social Venture 8% Africa / Middle East 12% Joining a New Venture as a 8% North America 12% Partner or an Executive / Employee Southern Europe 4% Acquiring a Company 4% Eastern Europe 2% Northern Europe 2% Latin America 2%

By Sector

Technology, Media & Telecommunications E-Commerce / Internet 16% Information Technology / Telecommunications 8% Media / Entertainment / Advertising 8%

Corporate Sectors Retail, Consumer & Luxury Goods 14% Healthcare 14% Travel / Leisure Services 6% Public Sector / Impact Economy 2% Manufacturing / Conglomerates 2%

Financial Services 26% 16+81462264x Consulting 4%

31 Summer Internships / Projects 67% of our December 2016 class did a summer internship or project

By Sector Total: 342 * Includes: Primary Industries, Energy, Investment Management / Hedge Funds, Impact Investing

22% 21%

11%

8% 7% 7% 6%

3% 3% 2% 2% 2% 1% 1% 1% 1% 1% 1%

Other * Insurance Healthcare Real Estate Transportation

Corporate Services Travel & Hospitality E-Commerce / Internet Management Consulting Other Financial ServicesEducation Management

Private Equity & Venture Capital ManufacturingPublic Sector/ Conglomerates & Impact Economy Retail, Consumer & Luxury Goods Investment Banking / Sales & Trading Media, Entertainment and Advertising

Information Technology / Telecommunications

41By Region +32965421x 48Within Europe +14764312x 54Within Asia Pacific +171059x Western Europe 41% United Kingdom 48% Singapore 54% Asia Pacific 32% France 14% India 17% Africa / Middle East 9% Germany 7% China 10% North America 6% Luxembourg 6% Australia 5% Southern Europe 5% Spain 6% Hong Kong 5% South America 4% Switzerland 4% Other *** 9% Eastern Europe 2% The Netherlands 3% Northern Europe 1% Other ** 12%

** Includes countries where fewer than *** Includes countries where fewer than 5 jobs were reported: Czech Republic, 5 jobs were reported: Cambodia, Finland, Ireland, Italy, Norway, Portugal, Indonesia, Japan, Pakistan and Thailand Romania, Russia, Slovakia and Turkey

32 Summer Internships / Projects: Monthly Base Salaries

Overall Monthly Overall Monthly Mean Salary Median Salary US$ 5,300 US$ 5,000

By Sector * # Range Median US$ US$

Management Consulting 70 1,200 – 15,000 8,000 Corporate Services 4 740 – 3,900 1,400 E-Commerce / Internet 60 500 – 6,700 5,100 Healthcare 20 500 – 15,400 3,600 Information Technology / Telecommunications 23 700 – 6,700 2,500 Insurance 6 2,600 – 5,050 3,300 Investment Banking / Sales & Trading 35 1,500 – 12,600 8,700 Manufacturing / Conglomerates 8 1,250 – 6,500 2,750 Media / Entertainment / Advertising 9 1,600 – 7,200 2,600 Other Finance 5 3,100 – 7,600 6,000 Private Equity / Venture Capital 20 1,000 – 10,000 3,100 Real Estate 5 1,300 – 6,500 2,000 Retail, Consumer & Luxury Goods 16 1,100 – 12,000 2,600

By Country * # Range Median US$ US$

Australia 4 7,600 – 8,300 7,800 China 11 1,100 – 11,700 2,800 France 20 1,100 – 6,700 2,800 Germany 9 700 – 7,300 4,500 Hong Kong 4 1,250 – 10,000 3,300 India 15 1,200 – 6,000 2,500 Israel 4 3,500 – 7,300 3,500 Singapore 54 700 – 12,600 2,600 Spain 10 1,900 – 7,800 6,100 Switzerland 7 2,600 – 15,400 8,200 Thailand 4 1,100 – 7,000 2,300 The Netherlands 5 2,200 – 12,000 4,700 United Arab Emirates 11 6,700 – 10,800 10,100 United Kingdom 75 1,600 – 14,400 7,100 USA 17 2,000 – 15,000 6,000

* Where 4 or more salaries were reported Exchange rate: Oanda, average for the period: 01/07/16 – 31/08/16 33 Vikram Rupani MBA’10D Co-Founder & President, RedMart Top Employers of 2016 INSEAD MBA Graduates

Top Employers 2016

McKinsey & Company 125 (50) AB InBev 5 The Boston Consulting Group 67 (26) Oliver Wyman 5 (3) Bain & Company 48 (14) Apple 4 Amazon 35 Apttus 4 Strategy& 24 (8) Goldman Sachs 4 Microsoft 20 (1) L.E.K. Consulting 4 Accenture 16 (6) Nike 4 Google 12 The Kraft Heinz Company 4 Roland Berger Strategy Consultants 11 (6) Danaher 3 A.T. Kearney 10 (2) Delta Partners 3 Deloitte 7 (3) Hilti 3 Partners in Performance 7 Johnson & Johnson 3 Siemens 7 (1) Parthenon EY 3 Credit Suisse 6 QuintilesIMS 3 EF Education 6 Uber 3 Morgan Stanley 6 (1) Wipro 3 Samsung GSG 6

Numbers in brackets are former employees returning to the organisation after graduation.

INSEAD Corporate Associate Programme*

INSEAD thanks our 2016 corporate associates for their support.

Accenture JP Morgan Chase Amazon L’Occitane A.T. Kearney McKinsey & Company Bain & Company Morgan Stanley Citi Olayan Credit Suisse Philip Morris International Deutsche Bank Roland Berger Strategy Consultants Goldman Sachs Strategy& Indeed.com The Boston Consulting Group

* Partnering with INSEAD opens the door to unique opportunities for organisations seeking visibility and impact at “The Business School for the World”. Our corporate associates provide essential funding for innovative projects and join a leading group of companies that advance the school’s mission.

35 Prominent INSEAD Alumni

Our distinguished alumni network includes Chairmen, CEOs and other senior leaders at a large number of global organisations including:

Aberdeen Asset Management plc L’Occitane International Accenture Louis Delhaize Admiral Group plc Marshall Wace LLP Airbus SAS McKinsey & Company Altran Ministry of Finance, Canada Aon Group Morgan Stanley Apax Partners LLP Naspers Apttus Neptune Oil & Gas A.T. Kearney Novartis Bain & Company Octapharma AG Barry Callebaut AG Olayan Financing Company BG Group plc Permira Advisers Ltd BlaBlaCar Petit Forestier Cable & Wireless Communications plc Philip Morris International Caffè Nero Group plc Power Corporation of Canada CIMB Bank Berhad, HK Branch Rabobank Nederland Cipla Remy Cointreau Citi Roland Berger Strategy Consultants Clariant AG Rolls-Royce Power Systems AG Credit Suisse Rothschild Danfoss A/S Royal Caribbean Cruises Ltd Darty Schlumberger Business Consulting De Beers Group UK Ltd Shire Pharmaceuticals Deutsche Bank Singapore Armed Forces Eurostar Société Générale Essilor Sony Pictures Entertainment Inc Firmenich SA Standard Chartered Bank Galeries Lafayette SA Strategy& Gilt Groupe Tempur Sealy International Inc Goldman Sachs Tetra Laval Group GSK The Boston Consulting Group Indeed.com TransferWise InterContinental Hotels Group plc UBS Investment Bank Investor AB UCB SA Jardine Strategic Unilever Jones Lang LaSalle Inc Varuma AG JP Morgan Securities Inc VimpelCom Lhoist S.A. World Economic Forum Lloyds Banking Group plc WPP

36 Working with the INSEAD Career Development Centre

INSEAD Career Marketing Talent Development Marketing participants and alumni to employers in the sectors, functions Centre and geographies where they want to work.

is made up of more than forty professionals based in: Developing Talent Developing lifelong career skills so that participants and alumni can secure the right job on graduation and for the rest of their career.

Europe Campus, Fontainebleau Tel: +33 (0)1 60 72 90 90 careers.fb@insead.edu

Asia Campus, Singapore Tel: +65 6799 7228 [email protected] Connecting Talent Middle East Campus, Abu Dhabi Connecting participants and alumni Tel: +971 2 651 52 00 with the right opportunities through [email protected] on-campus recruitment initiatives, job boards and CV search as well as treks and other off-campus events.

37 The INSEAD MBA Student’s Career Development Journey 3 Steps Towards Success

Step 1 Step 2 Know Yourself Know The Market

Careers Kick-off

PERIOD PERIOD PRE- INSEAD 1 2

1 CV Online Course 3 Career Vision 7 Career Design

2 Self-Assessment 4 Online Tools 8 Make a Career Tests Change 5 CV Groups and Reviews 9 The 2-Hour Job Search 6 Early Recruitment 10 Sector Briefings

11 Job Search Stories (Panel)

Develop Your Develop Your Career Plan 1 Career Plan 2

Career Coach Sessions (1-to-1)

38 Step 3 Strategise and Execute

PERIOD PERIOD PERIOD 3 4 5

12 Telling Your Story 16 Countdown to 19 Salary Negotiation Recruitment 13 Cover Letter 17 Interview 14 Crack the Case Essentials

15 LinkedIn Profile 18 Mock Interviews Reviews

Validate Your Career Plan

Employer Employer Employer Engagement (1-to-1) Engagement (1-to-1) Engagement (1-to-1)

Career Coach Sessions (1-to-1)

39 Sarah Willersdorf MBA’05D CMO, Diane Von Furstenberg

2016 Recruiting Organisations

Organisation marked ^ are participants’ own company. Organisation marked * participated in on-campus recruiting activities.

Full-time Internships Full-time Internships Company Name Company Name Hired 3+ Hired 3+ Hired 3+ Hired 3+ Hired Hired 1 or 2 Hired 1 or 2 Hired 1 or 2 Hired 1 or 2 Hired

360 Capital • Altor Equity Partners • 3M • Alvarez & Marsal * • • 5 Step Careers * Amazon * • • American Express * 99.co * • Amitell Capital A.T. Kearney * • • • Amphenol * AB Bernstein * • • • AnderSon ^ • AB InBev * • Annalect • Abac Capital • Antal International * Abéne • ANZ • Abraaj Capital Limited * • • Apax Partners • Accenture * • Apple * • Accomable • Apttus * • Acronis • AQVELL ^ • Active Capital Company • Arcade Group&CO • Adidas • Arcadia Consultancy Executive Search * Aditya Birla • • Arma Partners * • Admiral Group * • • Armgate SIA • Advancy * Arthur D Little * Adveq Management AG • Ascender Capital • Adzuna • Ascent Capital • Aéroports de Paris Ingenierie • Ashoka * (ADPI) * Asia Pacific Internet Group Africa Internet Group * (APACIG) * Africa Merchant Capital • Asian Development Bank • Agoda * Astronaut Technologies * Agromario • Audacia • Airbus AURELIUS Equity • • Opportunities Airsorted • AutoGrid Systems • Akhtaboot * Awenum • Akuo Energy Solutions • AXA * Al Futtaim – IKEA * Ayala Corporation • Alexander Hughes B Capital Group • International * BAE Systems * Alibaba • Bain & Company * • • Alicorp • Bain Capital, LLP • Alix Partners * • Balenciaga * Allnex * Bamilo •

2016 Recruiting Organisations

Organisation marked ^ are participants’ own company. Organisation marked * participated in on-campus recruiting activities.

Full-time Internships Full-time Internships Company Name Company Name Hired 3+ Hired 3+ Hired 3+ Hired 3+ Hired Hired 1 or 2 Hired 1 or 2 Hired 1 or 2 Hired 1 or 2 Hired

Bank of America Merrill • • British American Tobacco • Lynch * BAT * Banque Bemo sal • Brookfield Financial • Barclays * • Broomstick Capital • BASF • BSH • Bayer • Burger King * • Bayfront Capital Advisors • C Space • Berenberg • CallForTeam * Bertelsmann * Cando Development • Bertsica & Co Pte Ltd ^ • Capella Capital • Bicecorp • Capital Group * BID Equity • CarePay Ltd • BigchainDB • Cargill * BIMA * • Carnet de Mode • Binding Partnerships * Carrhae Capital • Biogen Biosimilars • Cdiscount.com • Bio-Optronics • Centre Medical Diamant ^ • BitTitan * Centum Adetel • BlaBlaCar * Chalhoub Group * Blackrock * Christian Dior * • Blue Marble Microinsurance • Chronocam • Blue Ridge Partners • Cilantro • Bluecap Management • Cinven • Consulting Cisco • BNP Paribas • Citi * • • BOC Aviation • CITIC Capital • Bolt Start Up Development • Clariant • Booz Allen Hamilton * • ClicInvest • Boston Scientific • • Clinton Health Access • • Bottega Veneta * Initiative BP * Cloudflare Inc. • Bread Ltd * Coca-Cola FEMSA * • BRF - Brasil Foods * Concept International • Business Consulting Pvt Ltd Brick2Wall Technologies • -CIBC Private Limited ^ Bridgewell Inc. • Coople • BrightCloud Inc. ^ • COPASA • Bristol-Myers Squibb • Cornerstone Research * • Credifi •

Total: 588 organisations of which 188 hired Summer Interns and 307 Full-time Graduates.

Full-time Internships Full-time Internships Company Name Company Name Hired 3+ Hired 3+ Hired 3+ Hired 3+ Hired Hired 1 or 2 Hired 1 or 2 Hired 1 or 2 Hired 1 or 2 Hired

Credit Suisse * • • Egremont International • Credo Ventures • Eisler Capital • Cresco Data * Eli Lilly * • • CRH • Emerson * Cultavo ^ • Emirates Group * Cummins • Emsil Techtrans • Custora • Endeavor • Dabur International * Enovos • Dalberg * • ENYSI • Danaher * • EQT • Dasym • ERAMET • Data1000 • Ericsson Management • DaVita * • Consulting * DayBreak Hotel * Ernst & Young * • Deliveroo • Escenomatica SRL • Delivery Club • Essence Digital * Deloitte * • • Essilor • Delta Partners * • • Essmart • Desigual * Estée Lauder Companies * • Detur • Etam Group * Deutsche Bank * • Evaneos * Deutsche Börse AG • Everstone Capital • DFS • Every Second Counts • DHL Consulting * • Expedia • • Externado University Discovery Networks Asia • • Pacific * Facebook • Diwanee Media Group • Falconi • Docomo Digital * Farallon • Doctena • Fastned * DogHero • Fidelity International * • Double Effect * Finalta • Double Helix * Finexkap • DPI Partners • Finquest • Drootoo • First Crayon • Edcon • First Reserve * EDP • FMC Technologies • Edwards Lifesciences * • Force Majeure LLC ^ • EF Education * • Forensic Risk Alliance • eFront * Fosun Eurasia Capital •

2016 Recruiting Organisations

Organisation marked ^ are participants’ own company. Organisation marked * participated in on-campus recruiting activities.

Full-time Internships Full-time Internships Company Name Company Name Hired 3+ Hired 3+ Hired 3+ Hired 3+ Hired Hired 1 or 2 Hired 1 or 2 Hired 1 or 2 Hired 1 or 2 Hired

Founders Factory • Hikma * • Funding XChange • Hilti * • • Future Mobility Corporation • Hitfox • Gallup Consulting * Holland Startup B.V. • Garena Online * • • HomeTouch • GasLog • Honestbee • Gelato (AS) • Hopskotch * Genentech • Hotels.com • General Electric * Hoya Surgical Optics • General Mills * • HP • Genpact • HSBC * • • Gett • Hummingbird Technologies ^ • GGH Ltd • Hurtigruten • Global Electronic Sports • Hypermarcas S/A • Championship Hystra * Global Fashion Group • IBM • Global Investment Holdings • ibrecruitment * GoCardless • ICICI Bank • Goetz Partners * ICMG • Goldman Sachs * • • Ignition Program * Good Pharma * Imerys * Google * • • Impact Marathon Series * GrabTaxi • Imperial Tobacco * Gradus Management • Consultants IMS Consulting • • Granite Holdings • Infiniti Motor Company Ltd • Green Climate Fund * Ingram Micro • Groupe Danone • Ingredion • Growth Capital Partners • Inmobi * (GCP) Innosight * GSK * • Insiders Experience * Gucci * InsideView • H&M • Integration Consulting • HAL Investments • Intel * Happy5.co ^ • Intercontinental Hotels Group • Hasbro Inc. • International Finance • • Hays Recruiting Experts Corporation * Worldwide * International SOS • HelloFresh • Intigral *

Total: 588 organisations of which 188 hired Summer Interns and 307 Full-time Graduates.

Full-time Internships Full-time Internships Company Name Company Name Hired 3+ Hired 3+ Hired 3+ Hired 3+ Hired Hired 1 or 2 Hired 1 or 2 Hired 1 or 2 Hired 1 or 2 Hired

Investec Asset Management • Litmus Group * InvOrOut.com * LIV Capital • Itau Unibanco • LM Wind Power • Jawwy • Lokeit ^ • JD Group * • Longlead Capital Partners • Johnson & Johnson * • • L’Oréal * • JP Morgan • • Loro Piana * Jumeirah Group * Lottoland • Jungle Ventures • Louis Vuitton * • Kaligo • Luxola * Kantar Health * Luxottica * Karhoo • LVMH * Kashmi * Maersk Consulting * Kasikorn Bank (PCL) • MagiLink • KE Tech • Magpie Polymers * • KEEN Footwear • Maha Awba • Kering * Mango • Kilpatrick Executive Search * Mansouri Living • Kimberly Clark * • MarketFinance ^ • • King * • • Mars & Co • Klaxoon * Massena Capital Partners • Kois Invest * Mastercard * Konica Minolta * Mattel • Korvac * MBA & Company * • KPMG * • McArthur Murray * Ky Pao School * McKinsey & Company * • • L.E.K. Consulting * • • Medallia * La Despensa Natural • MediaMath * Labatec * Melco Crown Entertainment • LaLamove * Limited LAN Airlines • Mercedes Benz Energy • Lazada * • Mercy Corps * Le Chemiseur * Michel Dyens & Co * LEGO Group • Microsoft * • • Lendable • MidStage Ventures • Lider Aviacao S.A. • Millward Brown Vermeer * • LIM Advisors • Mira Farmaceutici ^ • LinkedIn • Mitsubishi Estate Co., Ltd. •

2016 Recruiting Organisations

Organisation marked ^ are participants’ own company. Organisation marked * participated in on-campus recruiting activities.

Full-time Internships Full-time Internships Company Name Company Name Hired 3+ Hired 3+ Hired 3+ Hired 3+ Hired Hired 1 or 2 Hired 1 or 2 Hired 1 or 2 Hired 1 or 2 Hired

Moet Hennessy * OTB * MOH Holdings Pte Ltd • PACS – Pinnacles Advisory • Momentum Ventures * and Consulting Services Morgan Stanley * • • PAI Partners • Moynat • Palladium Group * • MSD • Parcom Capital • Multiples • Parthenon EY * • MyRepublic * Partners Group • N12 Technologies • Partners in Performance * • N26 • Passion Project * NAAS Marine & Terminals * PayPal • • Navrachana Education Society • Pedago • Nestlé • • Pepo Inc. • NetSeT Global Solutions • Percolata • Nexmo • Persistence Capital Partners • Nielsen • Philipps 66 * • Nike * • Philips * Ninja Van • Physique57 • Nissan Motor Co., Ltd * • Piing * Nomura * • PIMCO * Norinchukin Bank • Portas Consulting * Norsk Hydro • Portuguese Government • Nous Group * Pöyry • Nova Founders Capital • Premoldeados de Argentina • Nova Reperta • Primavera Capital • Novartis * • • Procter & Gamble • Nubank • Prodiet Nutriçao Clinica Ltda • Numu Consulting * Project Play Therapy, LLC ^ • OC&C Strategy Consultants * • • PropertyGuru Group • Octopus Ventures • Prophet * • • Oh! • PT. Harapan Baru Perkasa • Oliver Wyman * • Pulse Electronics • One Acre Fund * Puma * Open Society Foundations * PwC * • Open Team * Qeexo • Opportunity Network • Quadria Capital • Orbis Investment • Quilombo • Management QuintilesIMS * • •

Total: 588 organisations of which 188 hired Summer Interns and 307 Full-time Graduates.

Full-time Internships Full-time Internships Company Name Company Name Hired 3+ Hired 3+ Hired 3+ Hired 3+ Hired Hired 1 or 2 Hired 1 or 2 Hired 1 or 2 Hired 1 or 2 Hired

Quintiles Advisory Services * SMBC Nikko • Rakuten * • Société Générale • Relayto • Soko • Renaissance Capital • Solarpack • Reparando GmbH ^ • Solon Management Restaurant Brands • Consulting * International Solutions3OS * Revolution Credit • SONAE • RG SARL • South • RingMD • South32 * Riot Games * • SP Global • Rising Tide Asia * • Spisa • RNT Associates International • Spoke • Roche * • • Spotify • Rockwell Capital • Stan+ ^ • Roland Berger Strategy • • Start up Nation Central • Consultants * Sterlite Tech • Roniin • Strategy& * • • Roundforest • Stuart • Samaipata Ventures • Student.com • Samena Capital • Surgical Partners • Samsung GSG * • Swicorp • Samvad Partners • Swiss Federal Railways • Sanofi • Sygic • SAP • Symphony • Scandinavian Furnishings ^ • Taaindustries * Schneider Electric * • TabSquare * Seaya Ventures • Tag Heuer * Shell * • Tan Tock Seng Hospital • ShopBack * • Telefonica * Sia Partners * Teleios Consulting • Siam Cement Group • Tencent * Siemens * • Tesco • • Simon-Kucher & Partners • Tesla • Singapore Government • Tessa Therapeutics * Skarbek Associates * • The Blackstone Group * SKUvantage * The Boston Consulting • • Skyscanner * Group * Smartfrog • The Cantillon *

2016 Recruiting Organisations

Organisation marked ^ are participants’ own company. Organisation marked * participated in on-campus recruiting activities.

Full-time Internships Full-time Internships Company Name Company Name Hired 3+ Hired 3+ Hired 3+ Hired 3+ Hired Hired 1 or 2 Hired 1 or 2 Hired 1 or 2 Hired 1 or 2 Hired

The Communications Store • VANKE • The Flex Company • Venn Jobs * The Kraft Heinz Company * • • Villagemap * The Oddle Company * Vinci Energies • The Stakeholder Company * Vipshop • The Swatch Group • Visa • The Walt Disney Company • ViSenze • The World Bank • Vital Capital Fund • Thingmap • VMware * thyssenkrupp MC * Vu Sur ^ • Tickled Media * Waha Capital * Tile & Carpet Centre • Wamda Capital • Tiller Systems • Watchmaster • TITAN Cement Company S. A. • Waterland Private Equity • T. K. Maxx * Investments Tokini Peterside Collective ^ • Wavecell * • Topaz Energy and Marine * Wayfair * Tradewind • Wego * • Trafigura • Willis Towers Watson • Trakomatic • Winefamily • Transdev • Wipro * • Traveloka.com • Wise & Miller * Travelport • Woolworths Ltd. • Treis Partners • Work Around * Treknology 3 • • WorleyParsons • Triborg * WPP * • Twitter • Xunhui ^ • Uber * • • Yellow Door Energy • UBS (PWM) * Equipment Leasing * Unilever • Yelp • United Nations Development • Yunus Social Business * Programme Yves Saint Laurent * United Nations World Food • • Programme zeb gmbh • United Overseas Bank • zfranchises • UPS • Zilingo • Urban Engines • Zoek ^ • UTC * • ZS Associates • Value Partners * Zurich Insurance * •

48 Martin Tschopp MBA’99D CEO, Kiva.org

List of countries per region

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

Montenegro Montserrat Monaco Poland (EEA) Netherlands Antilles Switzerland Romania (EEA) Nicaragua The Netherlands (EEA) Russia Panama United Kingdom (EEA) Serbia Paraguay Slovakia (EEA) Peru North America Slovenia (EEA) Puerto Rico Canada Tajikistan St Kitts and Nevis USA Turkmenistan St Lucia Ukraine St Vincent and The Grenadines Northern Europe Uzbekistan Surinam Denmark (EEA) Trinidad and Tobago Faroe Islands (Denmark) Latin America Turks and Caicos Islands Greenland (Denmark) Anguilla Uruguay Finland (EEA) Antigua-Barbuda Venezuela Iceland (EEA) Argentina Virgin Islands (British) Norway (EEA) Aruba Virgin Islands (US) Sweden (EEA) Bahamas Barbados Middle East Southern Europe Belize Bahrain Cyprus (EEA) Bermuda Iran Gibraltar (EEA) Bolivia Iraq Greece (EEA) Brazil Israel Italy (EEA) Cayman Islands Jordan Malta (EEA) Chile Kuwait Portugal (EEA) Colombia Lebanon Spain (EEA) Costa Rica Oman Turkey Cuba Palestine Vatican Dominica Qatar Dominican Republic Saudi Arabia Ecuador Syria El Salvador United Arab Emirates Falkland Islands Yemen Grenada Guadeloupe Western Europe Guatemala Andorra In line with INSEAD’s academic calendar, this report is based on December 2015 Guiana Austria (EEA) and July 2016 classes. Guyana Belgium (EEA) Haiti France (EEA) Disclaimer: The information included Honduras Germany (EEA) in this report was provided by both MBA graduates and recruiters and has not Jamaica Ireland (EEA) been independently verified. INSEAD Martinique Liechtenstein (EEA) Career Development Centre gives no Mexico Luxemburg (EEA) guarantee as to its accuracy.

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