Nervous anticipation

My INSEAD life begins in a matter of days; this morning I am starting to realize it. I have a bit of a knot in my stomach...not sure if it is more nerves or excitement. Nerves because I am going from a VERY relaxed summer break to a VERY hectic INSEAD schedule where even Saturdays and Sundays are fair game for scheduled classes. It feels like I'm waiting for the starters gun at a big race...I can't even enjoy these last moments of tranquility.

The nerves also come from the huge expectations I have for myself to come away from this experience with not only great memories and friends, but a career that I am for once fulfilled by. For me, at this moment, this means something very entrepreneurial. IDEAL SCENARIO: I meet the partner of my dreams (business partner that is) and launch some business or start a small turnaround operation. A less risky alternative would be to do a stint in Private Equity although I'm not sure how many openings for these jobs will be around next year (it is a very closed industry and no formal recruiting programs on campus, plus the industry has peaked and there's no telling what toll the credit crunch will play on upcoming deals). A more practical alternative would be to do a stint in a corporation in business development. So where do I dedicate my energy over the next year... how do I juggle my dream with what's practical so that I don't fall short on all options???

Also nervous because I move away from my true partner, the most important person in my life! Luckily she is incredibly supportive and we will no doubt make it through the MBA (a.k.a. divorce degree) as we have made it through similar challenges in the past. Finally, that 3rd language test lingers in my mind...test is one week from tomorrow, let's see how it goes!

But finally, I think it is more excitement than anything. I'm already hearing (and seeing on youtube) great stories from the Fundamentals program which I chose not to attend. Plus, many of my roommates have already moved in leaving me now very anxious to join the fun. The packing is almost complete, France here I come!

P0 is coming to an end

The first day of welcome week is just over 2 weeks away. There are so many things I want to do in this calm before the storm...

- update CV and convert to INSEAD format
- conduct serious homework on PE field, deals, players, etc
- brainstorm entrepreneurial options
- connect with boss of 3 years and 2 jobs ago (there may be an ingesting project in Europe post-INSEAD and, anyways, I've got to start fine tuning the networking skills!)
- study more for my exit language test (I now think a 3 week intensive course is just shy of what I need to pass)
- plan first house dinner/party
- play lots of golf (great success on this one!!)

Unfortunately, my average daily productivity has been languishing at < 4 hours per day of value added work. While the average resident of France may consider this crazy I-banker type of hours, it won't cut it once P1 begins... I've been browsing past intake blogs to get a feel for what I'm in for come August 27. It seems that welcome week will be no walk in the park; aside from lots of administrative work, there are introductory lectures and even an initial group project to complete. Combine this with trying to make 400 witty first impressions and I anticipate a seriously hectic time. Plus, the first weekend will be comprised of only Sunday...we've got 10 hour days lined up Monday through Saturday.

Hectic but sure to be an exhilaratingly fun week as well. I'm especially interested in who will end up in my group! Got my fingers crossed that it will be a likable group, but given the administrations aim at creating a dysfunctional mix, there are sure to be challenges ahead. All part of the fun and something only INSEAD can bring given the diversity of the class!

Career Leader Results

I sat down today to take the Career Leader test. INSEAD career services recommends that all incoming students take this online assessment because...

"Most MBA students (typically 70-80%) don't know what their career goal is when they enroll - you come here to discover options! Don't be afraid to admit that you don't know...."

That's funny, is it just me or does this message differ significantly from what we were told when going through the application process. Essays were supposed to show a well thought out and quite specific plan for what we were going to do with our MBA degree. Anything less than that showed a "lack of focus". In retrospect, I think that whole exercise was just to show the admissions committee that we at least were realistic about what the MBA could do for us even though most of us weren't really sure what we wanted to do post-MBA.

My Career Leader Results

Most promising career paths:
General Mgmt, Private Equity, Entrepreneurship, Strategic Planning & Business Development

Here's how the test works. It matches both your ability & interest in various business activities to those required in various fields. For example, I showed a high level of interest in Enterprise Control (enjoy setting strategy and seeing it carried out, want to have ultimate decision-making authority for complete operations, etc) which is exactly why I am really keen on the first 3 career paths above. Contrarily, I did not score high on Investment banking because I place value on having a life outside of work. OK, so a lot of it is common sense, but I'm sure it can be very useful to those with less an idea of what is involved in the various business fields.

On the improvement side, the test thinks I may be too honest, sensitive, and modest. I do agree to an extent, luckily I have picked up a step or 2 in the great corporate politics dance. However, it does point out real improvement areas.... negotiation, influence, self-marketing.

In the end, I think it was a well spent 1.5 hrs. Sure, a lot of it one should already have a feel on, but I think there can never be enough introspection over the next year and this test definitely helps add a little structure.

Lesson #2: remember... this is France

I am reminding myself often these days that this is France that I'm dealing with....

Luckily, INSEAD is a bit on an anomily in France with respect to how efficient things seem to run . All my interactions with the school have been efficient, straight forward, and generally positive.

But most of us INSEAD students will sooner or later be exposed to some of the less pleasurable parts of French living....stumbling our way through the tangled web of red tape and some mind boggling "is this really a western economy" inefficiencies of both public and private French institutions.

The biggest beast of all was the one I wished to avoid at all costs...the French government. In the end, no such luck. Well the student visa will have to wait.. glad to see that the French embassy in my country complies with the mandatory shutdown for the entire month of August. Can't I just leave the country every 3 months and remain on a tourist visa. INSEAD documents say no...apparently they are obliged by the French government to ensure all their Non-EU students have a carte de sejour (obtained after you have received the student visa...)

So I'm estimating at least 3 days on non-value added, administrative hell plus a couple hundred euros in fees to obtain this thing. Some of the most annoying points: french bank account containing at least 4.500 euros (I've already got accounts in too many countries...why must I have another one in France?), health inspection in Paris sometime during the first weeks of class (come on, we are already required to have proof of medical insurance ), a dozen other documents (usually originals plus 3 copies stamped, certified, etc).

Private enterprises are no better. Many of us have had to BEG the dedicated BNP Paribas rep to open us accounts. This guy's only job is to support INSEAD students... I know, I saw his job title at the bottom of his out of office reply (his vacation started even the last week of July...I'm just happy as an out of office reply is the only clue I've gotten in weeks that this guy actually receives my emails.) How is it that French customer service people can come across as so stressed out??? On top of 5+ weeks of vacation, they have the plush 35 hr workweek (and that is being generous...if you netted out coffee breaks, uber lunch hour(s), etc. we may be into the single digits).

oh well....I should stop getting bothered... this is France et c'est la vie

L’été de hog

Work has been over for more than a month. I’m currently in a very beautiful setting taking a several week intensive language course to satisfy my 3rd and final language requirement for INSEAD. Are there students who actually take the language classes during the MBA? This is a possibility in principle, but with the intensity of the 10 month program as it is, I have got to believe that this would be a huge mistake. Then again, not many of the students actually need to worry about languages.

Yes, life is good. Outside of 4 hours of language class per day, I’ve got beautiful beaches, beautiful culture, beautiful food, and beautiful women (but of course a more beautiful partner back home!). After all of this, I have no fewer than 3 trips to look forward to where I’ll visit future INSEAD colleagues in their home towns/countries. I am enjoying the summer and have got to wonder if life can ever resemble this post-MBA.

I see other students fretting about the pre-reading. I’ve gone as far as to look at the list of suggested pre-reading material. That’s as far as I’m going to take it. Fortunately for me, I feel confident enough in finance/accounting/econ to not feel the need to do this sort of prep work. Instead, my best prep work is going into even more self-reflection as to why I’m doing this MBA and what it is that I want to walk away with. More on this later.

I’m happy to report that my INSEAD housing situation has worked out better than I could have expected. I will be living in the French countryside with around 10 fellow students in a semi-famous INSEAD house…exactly what I was looking for! In addition, the roommates are fantastic…well at least the ones I’ve met. There are 1 or 2 wildcards that could make for interesting stories down the line. All in all, it will be a very social living situation…lots of fun!

MBA ROIs are understated

Congratulations to all of the July 2007 graduates! I can imagine this must be such a bitter sweet moment for you all. On one hand you look forward to reentering the workforce with a bright new perspective and dreams of big successes to come. On the other hand, more acute at this moment is the realization that you must say goodbye to what was one of the greatest years of your lives. This environment, this set of diverse, smart, interesting, ambitions people living in the woods sharing this amazing experience can sadly never be recreated as much as you would wish it could.

These feelings were exactly what I felt after participating in an amazing Erasmus program while in University. It was so hard to say goodbye to that environment and it took so long to accept the fact that it was over and I could never again recreate that experience. Luckily for me, I have one more shot at something similar and, based on how I have grown as a person since University, I am positive that it will be even better this time around at INSEAD.

One has few opportunities in life to experience something like this. I am 100% sure the next year will be one of the most enriching personal experiences in my lifetime. It's an intangible benefit of the MBA program that isn't captured in a purely rational ROI calcuation (you know, the comparison of how much you will spend on your MBA + lost earnings vs. incremental future earnings post MBA). I assign A LOT of value to this intangible aspect of the MBA. Lets face it, MBA programs are great fun and (for me) INSEAD is quite probably the most fun program out there. I love the international aspect; INSEAD is the most international program out there. I love the fact that we are isolated together among the chateaus and farmhouses of Fontainebleau. Of course doing a program in London is nice, but how different are the bonds and experiences when everyone melts away into the depths of of such a city once classes are over for the day. You can't compare the two!

To all of my future classmates... I look forward to sharing this unforgettable experience together and building lifelong friendships. Let's do our best to remember that it's not just about future earning potential; let's make sure we enjoy it for what it is before all we can do is look back and reminisce!

Year of the consultant

Recruitment season at INSEAD starts early. In fact, for a Banking job, you better be prepared for the "grip & grin" schmoozing events and then interviews within the first few weeks of the program. Those who start the INSEAD program in January have a bit more time to prepare, and crucially an internship period to impress a banking employer of choice. But let's face it, if one really wants a career as an I Banker, they should not be going to INSEAD but rather LBS in Europe or Wharton in the US.

No, INSEAD is not a banker's school. Rather, it is a management consultants school and here the recruitment process starts even earlier! The final admissions decisions haven't even been given out, I've not even finished my pre-MBA job, there are months to go before the program begins and already the consulting firms have started their dance. I have now seen invitations for events to take place in the next few months from McKinsey and BCG, the top of the top consulting firms. For those interested in consulting, this must be vindication that INSEAD is indeed an expensive but effective entry ticket to the famous case study interview.

I think 2008 will be a record year for the consultant. I've heard through the grapevine that the top tier firms are selling more engagements than they can keep up with. I've seen this in Europe and Asia, not sure about the US but again, if one wants to work in the US, they shouldn't be coming to INSEAD. For all you wannabe consultants, this means "beach time" is at record lows (the downtime between engagements that is part of the consulting business model for good reason...to delay consultant burnout to at least the 2 year mark).

I'll reserve most of my consulting cynicism for a later time. On the bright side, the career does offer a great opportunity to work with smart & driven people, learn great project management skills, and pay off student loans quickly. For those who do go down this path, best of luck, for me I hope more fulfilling opportunities await graduation.