#84 IMD MBA Admissions Interview with Ralf Boscheck
“We want to focus on relevance and impact in the real world. What we deliver here has been tried as sound and is directly applicable.”
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About Our Guest
Dr. Ralf Boscheck is the MBA Program Director and The Lundin Family Professor of Economics and Business Policy at IMD, where he teaches courses in economics and industry analysis. He got his PhD in economics from the St. Gallen Graduate School of Economics, Business and Law. Before joining IMD in 1990, Dr. Boscheck was a fellow at the Swiss Institute for International Economics (SIASR) and at Harvard University, Department of Economics and a consultant with Monitor Company.
What is relatively unique about the IMD MBA? What are its key advantages?
- Industry-focused general management MBA from a school that is consistently top-ranked in Europe and worldwide for ROI; over 70% of graduates go into industry
- 1-year MBA that starts in January
- Only 90 students are admitted each year from ~40 countries,
- More experienced class: the average work experience is 7 years
- There’s a 2:1 student to faculty ratio
- Instead of an interview, IMD applicants participate in an assessment day which includes a 1-1 interview with admissions, 5-minute impromptu presentation on a mini-case, lunch with IMD student, and case study class with Professor
- IMD looking for candidates with strong analytical and communication skills who are team-oriented
- IMD has 9,000 executive education participants each year, and MBAs have increasing opportunities to connect with these senior executives
- IMD is based in Lausanne, Switzerland and has over 350 MNCs
- The IMD MBA in a Tweet: “The skills to know, the confidence to act, the humility to lead.”
Touch MBA’s IMD MBA Fast Facts
Program Highlights (2:55)
- IMD established in 1990, as a merger between IMI and IMEDE business schools
- 1 intake/year in Jan
- Length: 11 months
- Campus in Lausanne, Switzerland, which is located on Lake Geneva
- 90 participants/intake
- ~40 nationalities/intake, class is ~96% international
- All students participate in 7-week international consulting project
- Rankings: #13 Financial Times 2016, #32 Economist 2015, #2 Forbes 2015 for International 1-year MBAs
- Alumni Rating Top 2: General Management, International Business
- Accredited by AACSB, EQUIS, AMBA
Admissions (25:32)
- 5 rounds from Feb – Sep
- Candidates encouraged to apply as early as possible
- 4 applicants / place
- Avg GMAT: 670, GRE: minimum 75-80% on Quant and Verbal
- Avg age: 31 (25 – 35), Avg work experience: 7 (4 – 9), 3 years min work experience required
- TOEFL not required
- Interviews done by Admissions Staff
Financing (41:06)
- Full-time MBA Tuition: 85,000 CHF
- Recommended budget: 36,000 CHF
- Scholarships & Loans
- 40% of participants awarded scholarships, ranging from 10,000 – 60,000 CHK
- Average amount awarded is 30,000 CHF
- Students can apply for up to 65,000 CHF in loans
Careers (45:25)
- Full-time placement report? Yes
- 87% of graduates had jobs within 3 months of graduation
- Average Salary (Bonus): $127,744 ($21,011)
- Graduates in 2012 experienced 83% increase in salary after 3 years
- Industry: 69% Industry (23% manufacturing, 20% tech/media, 12% consumer products), 21% Consulting, 10% Financial Services)
- Geography: 73% Europe, 10% Americas, 7% Asia, 7% Africa/Middle East
- 60,000 alumni worldwide in working in 140 countries; 40 alumni clubs in 30 countries
- Student visa expires once program ends. Companies that hire in Switzerland provide students with work permits
Get in Touch
- Connect with IMD MBA students through the MBA department
Show Notes
- Don’t Settle for Just Any MBA – Dr. Boscheck’s thoughts on key criteria MBA applicants should consider
- #145 IMD MBA Program & Admissions Interview with Dean Seán Meehan – “Be on Companies’ Leadership Radars”
This episode of Touch MBA is brought to you be Prodigy Finance – the leader in education loans for international postgraduate students. Visit prodigyfinance.com to learn more.
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