Placement Report 2012 Master of Science Program in Business & Economics Placement Report 2012 Master of Science Program in Business & Economics Students in the two-year Master of Science Program in Business and Economics graduating from the specializations in Accounting & Financial Management, Economics, Finance, Management and Marketing & Media Management, who finished their studies by January 31, 2012, were the sample for this survey.* The response rate was 52 percent based on a cohort of 110 students The Placement Report is published annually for all Bachelor and Master of Science programs * The Master of Science Program in General Management is presented in a separate survey GRADUATE PROFILE Graduates had a median age of 26 Thirty-three percent of the graduates responding to the survey were female and 67 percent male The median number of jobs applied for was 6, and the number of offers (also median) was Age on graduation (median) Twenty-one percent of the respondents earned an additional joint degree in Management, through SSE´s CEMS affiliation, a global consortium of business schools in which SSE represents Sweden exclusively CEMS was ranked as No among the MSc Programs in the world in Financial Times (2012) 26 Women 33% Men 67% CEMS 21% Total no of respondents: 57 2011 – SSE MSC GRADUATES SHOW HIGH HIRING RATES LENGTH OF TIME TAKEN TO FIND EMPLOYMENT Ninety-four percent of the graduates had jobs within three months of graduation Seventy percent had accepted a full-time offer by graduation date Nineteen percent of the graduates had accepted an offer more than six months before graduation Seventy-four percent of the female graduates and 67 percent of the male graduates had found employment by graduation date All Women Men > months before graduation 19% 16% 20% 4 – 6 months before graduation 15% 22% 12% 2 – 3 months before graduation 28% 31% 26% 0 – 1 months before graduation 8% 5% 9% 0 – 1 months after graduation 7% – 12% 2 – 3 months after graduation 17% 16% 18% 4 – 6 months after graduation 4% 5% 3% > months after graduation 2% 5% 100% 100% – 100% LENGTH OF TIME TAKEN TO FIND EMPLOYMENT WITHIN DIFFERENT INDUSTRIES Advertising/PR/Information/ Market Communication Investment Banking Consulting, other Financial Services Management Consulting > months before graduation – 50% 33% 25% 10% 4 – 6 months before graduation – 12,5% 23% – 30% 2 – 3 months before graduation 20% 12,5% 11% 25% 50% – – 11% – – 0 – 1 month before graduation 0 – 1 month after graduation 20% – – 25% – 2 – 3 months after graduation 20% 25% 11% 25% 10% 4 – 6 months after graduation 20% – 11% – – > months after graduation 20% – – – – 100% 100% 100% 100% 100% 10 Number of respondents WAYS TO FIND JOB Career portals on company website, company presentations on campus, previous internship and acquaintances were the four main ways to find employment Ads on SSE Placement board and by contacting an employer were also frequently used channels Finding a job through a company presentation on campus, trough acquaintances or previous employer, are channels used more frequently by female graduates while career portals on company websites, ad on SASSE Placement board*, and previous internship were more common among male students MAIN WAYS TO FIND JOBS Career Portal on Company website Men Ad on the Placement board (SASSE)* Women Previous internship position I contacted an employer Company presentation on Campus Inquiry from employer / recruitment company Newspaper advertisement Friends or other contacts Previous employment, temporary work Other Ad of another recruitment center % 10 15 20 25 Women Men * The Student Association of the Stockholm Scool of Economics POPULAR INDUSTRIES Management Consulting, Other Consulting and Investment Banking are the most popular industries among the responding graduates Forty-nine percent of the respondents choose to start their careers in one of these industries Advertising/PR/ Information/Market Communication and Financial Services are also popular choices There are no equally popular industries amongst men and women Investment banking and Management Consulting are mostly preferred by men and Consulting, Other and Advertising/PR/Information/ Market Communication by women For those employed outside Sweden, Consulting, Other, Investment Banking and Financial Services attracts the greatest share of the graduates PLACEMENT BY INDUSTRY PLACEMENT IN SWEDEN AND ABROAD GRADUATES EMPLOYED: All Women in Sweden Abroad Consulting, other 10% 27% Management Consulting 26% 9% Investment Banking 13% 18% Men Management Consulting 18% 5% 26% Consulting, other 16% 32% 9% Investment Banking 15% 11% 17% Advertising/PR/Information/Market Comm 9% 16% 6% Advertising/PR/Information/Market Comm 11% 9% Financial Services 8% 5% 9% Financial Services 3% 14% Consumer Products 6% – 9% Consumer Products 10% – Accounting/Audit 4% – 6% Accounting/Audit – 9% Manufacturing industry 4% 11% – Academic Research 6% – Academic Research 4% – 6% Manufacturing industry 6% – Computer/IT 2% 5% – Power/Energy – 5% Insurance 2% 5% – Electronics – 5% Education/teaching 2% 5% – Other – 4% Electronics 2% 5% – Media/Culture 3% – Media/Culture 2% – 3% Insurance 3% – Power/Energy 2% – 3% Computer/IT 3% – Public Administration 2% – 3% Education/teaching 3% – Other 2% – 3% Public Administration 3% – 100% 100% 100% No of resp 53 100% No of respondents 100% 31 22 LARGE COMPANIES MOST POPULAR Large companies attract SSE graduates Thirty-six percent chose to start their career in a company with more than 10,000 employees Men are more attracted to larger companies than are women The median working hours was 53 per week Investment Banking and Financial Services required most working hours per week with a median of 78 EMPLOYMENT IN INDUSTRIES FOR DIFFERENT SPECIALIZATIONS SIZE OF COMPANY % Number of Employees 100 All Women 90 80 3–10 6% 10% 3% 70 11–50 13% 16% 12% 60 51–250 13% 16% 12% 50 251–1 000 9% 16% 6% 23% 16% 26% 001–10 000 40 Consulting, other Management Consulting Other industries Advertising/PR/Information/ Market Communication Investment Banking Financial Services 30 20 10 a M t en & & g nt g nt tin e tin me un gem rke age a co na M an Ac Ma M l a i cia ed an M Fin em g na ce an Fin – – 36% 26% 41% 100% 100% 100% NUMBER OF WORKING HOURS PER WEEK cs mi no o Ec > 10 000 – Men 1–2 Median Investment Banking 78 Financial Services 78 Management Consulting 53 Consulting, Other 53 Advertising/PR/Information/Market Communication 43 LOCATION OF PLACEMENT SALARIES BY INDUSTRY Interest among SSE graduates in pursuing an international career is very high Forty-one percent chose to accept their first job abroad Europe is attracting most of them The median monthly basic salary had a median range of – 30,000 – 34,000 SEK Management Consulting is the highest payer with a median range of 38,000 – 42,000 SEK Investment Banking and Financial Services had a median range of 34,000 – 38,000 SEK Consulting, Other had a median range of 30,000 – 34,000 SEK The median salary level in both Sweden and abroad is 30,000 – 34,000 SEK TOTAL ASIA 4% Sixty-two percent of the respondents answered they have received bonus or commission in relation to signing up for their first job The median sign-on bonus had a range of 20,000 – 34,999 SEK and the median yearly bonus a range of 25,000 – 49,999 SEK EUROPE 37% SWEDEN 59% SALARIES IN SWEDEN AND ABROAD GRADUATES EMPLOYED: WOMEN Monthly Base Salary EUROPE 37% in Sweden Abroad < SEK 18,000 (< EUR 2,000) 3% 4% SEK 18,000 – 21,999 (EUR 2,000 – 2,400) 3% 13% SEK 22,000 – 25,999 (EUR 2,400 – 2,850) 3% 14% SEK 26,000 – 29,999 (EUR 2,850 – 3,300) 7% 5% 3% 9% SEK 42,000 – 45,999 (EUR 4,600- 5,050) 10% – 6% 5% SEK 50,000 – 53,999 (EUR 5,500 – 5,950) – 5% SEK 54,000 – 57,999 (EUR 5,950 – 6,400) – 14% SEK 58,000 – 61,999 (EUR 6,400 – 6,800) EUROPE 38% 18% SEK 38,000 – 41,999 (EUR 4,200 – 4,600) ASIA 6% 9% 26% SEK 46,000 – 49,999 (EUR 5,050 – 5,500) MEN 39% SEK 30,000 – 33,999 (EUR 3,300 – 3,750) SEK 34,000 – 37,999 (EUR 3,750 – 4,200) SWEDEN 63% – – >=62,000 (EUR 6,800 ) – 4% 100% 100% SWEDEN 56% No of respondents 31 22 BONUS AND COMISSIONS GRADUATES RECEIVED Sign-on bonus Median range Yearly bonus 20,000 – 34,999 SEK 25,000 – 49,999 SEK SALARIES BY INDUSTRY GRADUATES EMPLOYED IN: Advertising/ PR/Information/ Market Communication Monthly Base Salary All < SEK 18,000 (< EUR 2,000) 4% – – SEK 18,000 – 21,999 (EUR 2,000 – 2,400) 7% 20% 12% SEK 22,000 – 25,999 (EUR 2,400 – 2,850) 8% – 13% SEK 26,000 – 29,999 (EUR 2,850 – 3,300) 26% 40% 25% 22% 25% – SEK 30,000 – 33,999 (EUR 3,300 – 3,750) 22% 40% – 23% – 30% SEK 34,000 – 37,999 (EUR 3,750 – 4,200) 6% – – – – 20% SEK 38,000 – 41,999 (EUR 4,200 – 4,600) 6% – – – 25% 20% SEK 42,000 – 45,999 (EUR 4,600 – 5,050) 6% – 25% – – 10% SEK 46,000 – 49,999 (EUR 5,050 – 5,500) 6% – – 11% 25% 10% SEK 50,000 – 53,999 (EUR 5,500 – 5,950) 2% – 12% – – – SEK 54,000 – 57,999 (EUR 5,950 – 6,400) 5% – 13% 22% – – SEK 58,000 – 61,999 (EUR 6,400 – 6,800) – – – – – – >=SEK 62,000 (EUR 6,800 ) 2% 100% – 100% Investment Banking Consulting, Other 10% Financial Services Management Consulting – – – – – 12% 25% – – – – 10% 100% 100% 100% 100% MAIN REASON FOR CHOOSING THIS EMPLOYMENT When asked to state the key reason for their choice of employment, female graduates identified type of work/ responsibility and professional / personal development as number one Male graduates also stated these reasons, but also career opportunities as most important for their choice of employment Neither male nor female graduates stated a high salary as a motivation for accepting an offer MAIN REASON FOR CHOOSING THIS EMPLOYMENT Professional / Personal development Type of work / Responsibility Career possibilities Lack of alternatives Location Company culture / Value Other SIGNIFICANCE OF SPECIALIZATION FOR THIS EMPLOYMENT Almost 50% of the 2011 graduates give their specialization subject great significance for employment The specialization is considered to have great significance for employment equally for both women and men Sixty-seven percent of the responding graduates had an internship during their studies The majority (79%) claim that the internship had an impact on getting their job Most graduates (74%) found their occupation corresponded well to their level of education Seventeen percent thinks that their position requires fewer qualifications Company image / reputation % 15 10 20 25 30 35 Women Men SIGNIFICANCE OF SPECIALIZATION FOR THIS EMPLOYMENT All Women Men Very much 47% 48% 47% Quite a bit 32% 37% 30% Quite little 15% 10% 18% Very little 6% 5% 5% 100% 100% 100% OCCUPATION IN RELATION TO EDUCATION Nearly half of the graduates have used SSE Career REQUIRES MORE QUALIFICATIONS 9% Services in some way (47%) SSE Career Services offer Online Resources, CV and application guidelines, Skills courses and Career advice Almost all found the services to be useful in their job search REQUIRES FEWER QUALIFICATIONS 17% IT CORRESPONDS TO EDUCATION 74% 10 ADRIAN GEHRIG (Specialization in Accounting & Financial Management) JANINE WOITHE (Specialization in Marketing & Media Management) LOUISE OSCARIUS (Specialization in Economics) After graduation from SSE I joined PricewaterhouseCoopers as a management consultant, where many of my previous classmates became work colleagues And that is really what SSE is all about – it truly sets an everlasting footprint in your life, both professionally as well as socially I am currently finishing the Global Management Trainee Program at AB InBev, the leading global brewer and one of the world’s top five consumer product companies, with brands such as Beck’s, Budweiser and Stella Artois I am currently doing a one-year trainee program rotating between Sweden’s central bank (the Swedish Riksbank), the Swedish Financial Supervisory Authority, and the Swedish National Debt Office At the end of the program I will continue working as an economist at the Riksbank With a journey through both the BSc and MSc Programs, I know that choosing SSE was one of the best decisions I have ever made The hands-on academic approach enabled me to develop an analytical toolbox of true practical relevance that I carry with me, whatever my career path or challenge The school is also a great door opener for international experiences and opportunities, something I realized from my participation in SSE’s Exchange Programs in Singapore and Chicago; I can really benefit from this when I now work in a global consultancy firm My studies provided me with a first-class education, but the friendships I made and the unique bond among the SSE students not only enhanced my student life, but rather defined my personal life SSE and its Student Association became a part of me and most certainly a part of my future career The close friends, the network, the analytical skills and the school’s great reputation constantly provided me with new opportunities and are still great accelerators long after my graduation ceremony was over After earning a Bachelor’s degree in Germany, I chose SSE for my Master because I wanted to study abroad but not compromise on the quality of education SSE has established an outstanding reputation far outside the Nordic borders The Marketing & Media Management specialization offers the right balance between a very practical approach to Marketing, strong scholarly theories, and the latest research New media usage is embedded in every aspect of studies which truly put us ahead of the corporate world Prominent companies held weekly workshops in our classes, allowing us to work with actual problems and to gain real world experience I also found it extremely rewarding to take part in the CEMS Master Program while at SSE I spent a semester at the National University of Singapore, challenging myself by experiencing a new continent and meeting many talented, inspiring students SSE was a truly international experience for me offering a multitude of perspectives Learning in such a diverse environment has prepared me for working in international teams today Students at SSE are ambitious, open-minded and motivated, which makes the educational atmosphere dynamic and rewarding As I am Swedish, I have always known that SSE is considered the best business school in Sweden I was interested in social science and economics and when finishing my bachelor at Lund University I started thinking about doing a master SSE was my only choice Since we were the first Master students in the new program structure at SSE, my first year was very interesting and I think class of 2012 played a big role in helping to shape the program into what it is today What makes SSE such a unique school is how the tough workload makes everyone come together and help each other out I found that really motivating and different from other schools where I have studied SSE and CEMS have opened up so many opportunities for me The degrees have given me the analytical and technical skills that my current position requires And on top of that, I have a network that stretches from Tokyo to São Paulo, with friends now working in companies and organizations that many people dream about working for 11 ELENI MILIOU (Specialization in Marketing & Media Management) KRISTRUN GUNNARSDOTTIR (Specialization in Economics) I am an Account Planner for the Marketing Solutions team at LinkedIn in Stockholm, working with our biggest clients on online advertising, marketing strategies and brand communities I work as a Senior Consultant at Oliver Wyman, primarily working on projects for top-tier financial service companies in the Nordics and around the world SSE was my first choice from the list of top business schools in Europe, as it also offered a CEMS Master in International Management enabling me to obtain a double MSc degree—it was also an adventure to come all the way to Sweden from Greece My CEMS year gave me a large international network of business professionals, not only from my exchange semester at the University of Sydney, an unforgettable cultural and educational experience! What I liked best about SSE, though, was my classmates, who were curious, motivated, active in class, and internationally experienced; many now lead world-class business careers I stayed in Stockholm after graduation and pursued a career in media; SSE was a great conversation starter in my job interviews as many company representatives were alumni My SSE education has provided me with skills in project management, presentation and networking that I use every day at work I chose to pursue my MSc degree in Economics at SSE because it is one of the top business schools in Europe and the Master program offered great opportunity to work with students of multiple nationalities and with various backgrounds It also gave me the opportunity to enter the CEMS program through which I went on exchange at ESADE in Barcelona SSE contributed to my professional career in multiple ways In addition to providing understanding of theoretical concepts it also prepared me to apply my knowledge and technical toolkit in practical real word situations, solve complex challenges for my clients and communicate more efficiently with various people Frequent lunch lectures, company presentations and exceptionally active student association also added to the SSE experience and last but not least I made some great friends for life! This piece of printed matter was produced by the Department of Market & Communication and Student Services at SSE 12 Stockholm School of Economics Stockholm School of Economics (SSE) is one of the top business schools in Europe SSE offers Bachelor, Master and MBA programs along with highly regarded PhD programs and Executive Education SSE has earned a reputation for excellence, both here in Sweden and around the world and has schools in Sweden, Latvia and Russia The School is accredited by EQUIS (European Quality Improvement System) certifying that all of its main activities – teaching as well as research – are of the highest international standards SSE is also the Swedish member institution of CEMS (The Global Alliance in Management Education) and PIM (Partnership in International Management) SSE offers three Bachelor programs: • Bachelor of Science in Business & Economics (first two years in Swedish) • Bachelor of Science in Retail Management (first two years in Swedish) • Bachelor of Science in Economics & Business, at SSE Riga (in English) SSE offers four Master programs (all in English): • Master of Science in Business & Management Specialization in International Business (CEMS) Specialization in Management Specialization in Marketing & Media Management • Master of Science in Economics Specialization in Applied Economic Analysis Specialization in International Economics • Master of Science in Finance & Accounting Specialization in Accounting & Financial Management Specialization in Corporate Finance Specialization in Investment Management • Master of Science in General Management (for students with bachelor’s degrees in subjects other than Business or Economics) The MSc Program in Business & Economics and its specializations, reported on in this placement report, corresponds to the three current programs in Business & Management, Economics and Finance & Accounting SSE is also offering PhD programs, Executive Education and has campuses in Stockholm, Norrtälje, Riga and St Petersburg Stockholm School of Economics • Sveavägen 65 • Box 6501 • SE-113 83 Stockholm Phone: +46 736 90 00 • info@hhs.se • www.hhs.se .. .Placement Report 2012 Master of Science Program in Business & Economics Students in the two-year Master of Science Program in Business and Economics graduating from the specializations in. .. in Economics & Business, at SSE Riga (in English) SSE offers four Master programs (all in English): • Master of Science in Business & Management Specialization in International Business (CEMS)... Bachelor programs: • Bachelor of Science in Business & Economics (first two years in Swedish) • Bachelor of Science in Retail Management (first two years in Swedish) • Bachelor of Science in Economics