MBA & MSc international FINANCE

MBA&Mif

2015

foreword

HEC Paris has always been at the forefront of innovation in business education.
The financial crisis challenged us to find new ways to equip our graduates with
the right set of knowledge, skills and values. With this goal in mind, we have
designed the MBA-MIF Dual Degree for young professionals who wish to acquire
not only the general management education and leadership skills from a leading
MBA program but also advanced technical knowledge in Finance to differentiate
themselves from their peers. This unique combination will allow dual degree
students to fast-track on to senior management positions within Finance and
Consulting.

Jacques Olivier, PhD,

Professor of Finance
and Program Director,
HEC MIF

There are many ways in which education at HEC Paris is different. Our approach
is deeply rooted in the French tradition of strong analytics. We are looking for
candidates who are strong quantitatively and we seek to challenge them during
the program. Another difference is our ability to 'tailor' our programs to fit
our students. The two different tracks of the MIF - business and accelerated
- allow us to leverage pre-existing skills and knowledge. The choice of a MBA
specialization, of a HEC certificate and of MIF electives further tailors the
curriculum of each student to his or her specific career objectives. Finally,
not only do we believe in giving our students strong theoretical grounding with
courses taught by leading researchers, but also practical knowledge with courses
taught by top practitioners from the Finance and Consulting sectors. This unique
combination is a key reason why HEC Paris graduates are so sought after by
international recruiters.
Successful applicants will need to meet the high admissions standards of both
the HEC Paris MSc in International Finance and the HEC Paris MBA. They should
not only be ready and able to absorb academically challenging material designed
for young graduates of top universities but also be prepared to share their
professional experiences with senior MBA participants.

Bernard Garrette,
Strategy and Business
Policy Professor,
Atos-Origin Professor,
Associate Dean of
HEC MBA

We look forward to meeting you soon!

#1

business
school
in Europe

(All programs - 2013 Financial Times

general ranking of European business
schools - http://rankings.ft.com)

#1

Pre-experience
Global Masters
in Finance

(2014 Financial TimesPre-experience

Global Masters in Finance ranking http://rankings.ft.com)

HEC Paris Campus

The French
language
Dual degree students
do not need to speak
French to enroll in
the program as all
courses are offered in
English. However, some
knowledge of French
can be useful to enjoy
the full HEC experience:
becoming professionally
bicultural and optimizing
networking with French
students and alumni.
This is why HEC Paris
offers optional French
language classes
free of charge to its
international students.
Students may also register
for a French language
course (TEF certificate
all levels) in August.
This is an exceptional
opportunity to learn
French and to live in the
very heart of Paris before
joining the Campus.
Dual degree students are
required to speak at least
one language other than
English at intermediate
level upon graduation.
Thus students who speak
only English and no other
language are strongly
encouraged to attend
either the Preparatory
Intensive French Course in
August or French Classes
offered during the year.

General overview

Program structurE

Dual degree students receive both a MBA and an MSc in International Finance when
completing the program. The dual degree program has been designed to maximize
synergies between MBA and MIF so as to allow students to get the best of both
programs in a total of 20 months. It has also been designed to retain the flexibility
to tailor design the curriculum based on the specific knowledge and experience
students have acquired before joining HEC Paris.
Business track dual degree students: already have taken classes in financial
accounting, corporate finance, investments and statistics in a Tier-1 international
business school or university. They have at least two years professional experience in
banking, consulting or the finance department of a multinational corporation.
Accelerated track dual degree students: already have received first class education
in a quantitative field (maths, physics, engineering, economics...) and wish to switch
their field to finance. They have at least two years professional experience in a
challenging international environment.
Business and accelerated tracks mainly differ in courses taught during the Fall
term of the first year of the program. Business track students start all courses
at an advanced level. Accelerated track students start all finance courses at an
introductory level. However, they go through an intensive Fall term of the first year
of the program.
Business track and accelerated track dual degree students take the same MBA core
courses in January-April of year 1. They have access to the same specializations with
the HEC Paris MBA or one of our international partners: Strategy, Entrepreneurship
and Leadership.
They also have access to the same range of MIF electives.

The structure of the program has been designed so as:

To leverage on past experience: students with experience in finance do not need to
take introductory classes in accounting and finance.
To provide an early intensive training in finance and thereby optimize the preparation
for banking and consulting interviews.
To allow for a double specialization: in finance with the MIF and in strategy,
entrepreneurship or leadership with the MBA.
To optimize opportunities for networking both with younger MIF students and with
more senior MBA students.
An important component of the dual degree learning experience is the writing of
a professional thesis. The objective of the thesis is to explore how cutting-edge
research is being implemented in the daily practice of finance in a highly competitive
environment. It may be started as early as April of the first year of the program and
needs to be defended before April of the second year.

MIF Business Track:

Core Courses
Block electives
210 hours

MIF Accelerated Track:

MBA Core Courses:

Certificates

Business Economics
Ethics
Marketing
Operations Management
Organizational Behavior
Strategy

or

Core Courses
B
 lock electives

Summer
Internship
(or Summer
break)

Advanced

Management
Electives

MIF Core Courses

Strategy
Entrepreneurship
Leadership

30 hours

MIF electives
130 - 160 hours

or

or

MBA Exchange Program

Fieldwork

250 hours

September
2015

MBA specializationS:

Professional thesis
December

January
2016

April

April

June

July

August

September

December

January
2017

April

MIF Core courses and block electives*

In business track:
Asset Management
Asset Pricing Theory
Corporate Finance Theory
Derivatives
E
 mpirical Methods for Finance
Ethics Seminar
F
 inancial Dimensions of Strategic Decisions
Financial Modeling
Financial Regulation
Financial Statement Analysis Refresher
Fixed Income
FX Derivatives Trading
International Finance
Mergers and Acquisitions
Security Markets: Mechanisms, Liquidity and Investment Decisions
S
 oft Skills Seminar
V
 aluation Refresher.
In accelerated track:
A
 ccounts and Financial Statement Analysis
A
 sset Pricing Theory
Empirical Methods for Finance
Ethics Seminar
F
 inancial Regulation
Fixed income and derivatives
FX Derivatives trading
International Macroeconomics
I ntroduction to Finance
Mergers and Acquisitions
Security Markets: Mechanisms, Liquidity and Investment Decisions
Soft Skills Seminar
Structured Finance
Taxation.

6
*subject to change

meet mIF professors

David Thesmar, Professor of Finance, teaches corporate Finance in the MIF. David
is a member of the French Council of Economic Advisors. He was awarded in 2007
the prize for best French Economist below 40. He is also an Associate Editor for the
Journal of Finance:
Can you tell us a little about your background?
After doing my Ph.D., I joined the French National Statistics Institute as a researcher
and teacher, and worked on macroeconomic forecasts as well. I joined HEC Paris in
September 2005, working for the Economics and Finance Department where I teach
mainly corporate finance.

All MIF students go through two core courses in corporate finance. Why do you feel it
is important for a future trader or asset manager to learn about corporate finance?
Securities traded on markets are issued by firms. Without a clear view of the tradeoff
faced by firms in their financing decision, it is hard to have a sense of their actual value.
For instance, when a firm borrows from a bank, its stock price may increase, because
of tax savings, or decrease, because of risk. When a firm spins off a major asset, it
may be good or bad news for stockholders. When a firm announces an equity issue or
a hostile takeover, you need to know if you should buy or sell its stock. Whether you
invest for the short run or for the long term, you need to be comfortable with this type
of reasoning. This is exactly what a first course in Corporate Finance focuses on: the
impact of a firms financing choices on market value.

David Thesmar,
Professor (Finance),
HEC Paris

Ioanid Rosu, Associate Professor at HEC Paris since 2010. He teaches core finance
courses in both HEC MBA and HEC MIF. A graduate of University of Bucharest, he
earned two PhDs from MIT, one in mathematics and one in financial economics.
Prior to HEC Paris, he taught at Chicago Booth.
Can you tell us a bit about your work?
My research focuses on the liquidity of financial markets and its effect on asset prices
and investor decisions. I am also interested in mergers and acquisitions, option pricing,
and high frequency trading.

You have taught in both the HEC MBA and the HEC MIF programs. In your view,
who are the individuals who can best fit in and benefit most from the MBA-MIF
dual degree?
Dual degree students need to be strong quantitatively to benefit from the rigorous MIF
training. At the same time, the broader business perspective that the MBA program
offers will help them move toward senior leadership positions.
You are teaching in the MIF a course about market liquidity. Why should a student
who wants to work in corporate finance or consulting care about market liquidity?
Liquidity, alongside return and risk, is a central concept in finance, yet is not as clearly
understood. Liquidity impacts firms' cost of capital and therefore their financing
decisions. As recent financial crises made it painfully obvious, liquidity simply cannot
be ignored when making sound investment decisions.

Ioanid Rosu,
Associate Professor (Finance),
HEC Paris

MBA portfolio for dual degree students*

meet mBA professors

MBA Core courses

B
 usiness Economics
E
 thics
M
 arketing

Gonalo Pacheco de Almeida, Associate Professor of Strategy and Business Policy

and the Academic Director of the MBA Strategy Specialization at HEC Paris. Prior
to HEC, Gonalo was an Assistant Professor of Management at New York University
(2002-2011) and a strategy consultant:

MBA Specializations
Strategy:
Strategy Backbone
Big Data and Business
Analytics
Competing for Advantage
Entrepreneurship:
Entrepreneurship Backbone
Development Strategy for Early Stage
Companies
Entrepreneurial Finance
Leadership
L
 eadership in Global Organizations
backbone
A
 dvanced Financial Analysis
C
 ompeting to Advantage

Exchange programs
Asia / Oceania:
The Chinese University of Hong Kong
The Hong Kong University of Science
and Technology
Indian School of Business
Keio Business School
National University of Singapore
Europe / Middle East:
IE Business School
Universit Luigi Bocconi
Erasmus University,
North America:
Berkeley
Cornell University
Tuck
University of Southern California
Chicago Booth
Babson College
McGill University
Latin America:
Instituto Tecnolgico Autnomo de
Mxico (ITAM)
Fundaao Getulio Vargas (FGV).
*subject to change

Operations Management
Organizational Behavior
Strategy.

Growing outside the core

Management Consulting
Strategy Beyond Markets
Technical Product Development.
Intellectual Property Law
Investing in Science & Technology
Technical Product Development
Technology Evolution.
Futures Analyses
Managing Global Supply Chain
People and Business Performance
The Business of Web 2.0.

Tsinghua University Beijing

University of Melbourne, Melbourne
Business School
University of New South Wales, AGSM
...
Rotterdam School of Management
London Business School
...
Wharton
Duke University
Fletcher School, Tufts University
Yale
Georgetown University
UCLA
...
...

Tell us a bit about your work

I am essentially interested in problems of business strategy and competitive
strategy, business analytics, the economics of strategy, and negotiation with a focus on
strategy dynamics.

What are the key take-aways of the HEC MBA Strategy specialization for someone
who wants to pursue a career in finance?
The MBA Strategy specialization introduces students to advanced strategy frameworks
and quantitative techniques that support a rigorous analysis of profitable business growth
in dynamic market and non-market environments. Recent surveys show that finding
future sources of business growth is the single most important strategic problem that
top executives have on their agendas. By taking the MBA Strategy specialization, Finance
students will develop a solid understanding of the strategy fundamentals behind key finance
topics such as corporate valuation, investment analysis, and mergers and acquisitions.
Could you give an example of a course taught in the Strategy specialization which
is unique to HEC?
The new MBA Strategy specialization has a strong emphasis on Business Analytics and
Big Data. This BA/BD curriculum is jointly developed by HEC Paris and IBM Business
Analytics (US and EMEA Offices). HEC Paris aims at becoming a premier training center
on Business Analytics worldwide.

Gonalo Pacheco de
Almeida, Associate
Professor (Strategy
and Business Policy),
Academic Director
of the MBA Strategy
Specialization,
HEC Paris

Cdric Lesage, Associate Professor at HEC Paris. Prior to joining HEC, Cdric was
auditor at Ernst & Young then Professor at Sorbonne University, Paris. He teaches
Ethics in the MBA program:
Can you tell us about your work?
My past practitioner experience has made me sensitive to fraudulent behavior in
firms. Part of my research work deals with studying, and questioning, the auditor's
claim as a watchdog (i.e. as a trust provider in the financial markets). I also study
managers' behavior, with a specific focus on the top management personality features
which constitute a risk factor of fraudulent behavior.

What is the content of the MBA Ethics course?

This course looks at the ethical responsibilities of managers and corporations. We
look at individual and organizational business decisions in the light of moral principles
and values. We propose difficult ethical challenges and provide students with a
framework to identify common patterns of success or failure in managing corporate
responsibilities.
How can a school like HEC have an impact on the values and ethics of its graduates?
We view ethics as a crucial component of individual and group behavior inside
organizations. Leveraging on the diversity of our student body, we provide the
necessary multicultural context to allow participants to critically re-examine the
assumptions and values they bring to the table when solving complex business
problems with ethical issues.

Cdric Lesage,
Associate Professor
(Accounting and Management
Control), HEC Paris

certificatEs

MIF electives

Sponsored by a company, The certificates are a set of interdisciplinary courses

corresponding to approximately 100 contact hours as well as business projects and
other types of field work related to a given sector. Each student joins one certificate
and will be awarded an additional HEC certificate if he/she validates all the requirements of the course.

Advanced Asset Pricing

Advanced Financial Statement Analysis
Alternative Investments
Bond Portfolio Management
Credit Crisis: Historical and Technical Analysis
Debt Restructuring
Distressed Firms and Credit Risk
Due Diligence
Energy and Finance
Energy Trading
Equity Capital Markets
Ethics: Financial Analysts and Portfolio Managers
Financial Dimensions of Strategic Decisions (accelerated track)
Financial Engineering and Derivatives
Financial Institutions and Corporate Strategy
Financial Modeling (accelerated track)
Financing Decisions of Firms
Fixed Income - Emerging Markets
LBO Structuring and Modeling
Legal and Contractual Issues in Corporate Finance
Macroeconomics of Crisis Economics
Modeling Techniques for Financial Engineering
Models of Volatility
Numerical Analysis
Origination of Structured Products
Probability and Stochastic Processes
Quantitative Asset Management
Quantitative Strategic Management
Strategies for International Expansion
Structured Finance (business track)
Sustainable and Responsible Investing
Topics in Valuation.

Dual degree students are guaranteed admission in the Energy & Finance, Merger
& Acquisition and Social Business Certificates. They are eligible for all other
certificates:
E
 nergy & Finance (chaired by Deloitte and Socit Gnrale): Investment decisions
have become more and more complex with the discovery that most current forms
of energy have a negative climatic impact. This reality requires corporations to
deeply rethink their business models, individuals to change their behavior, and
governments to adopt visionary policies. The Energy & Finance Certificate is an
exceptional opportunity for participants to confront the issues in the sector and
acquire the knowledge and analytical skills that will help them make informed
decisions as important contributors to the current industrial revolution.
Merger & Acquisition: Position in Merger and Acquisitions are among the leading
job opportunities for HEC graduates. The M&A certificate will bring students a
multidisciplinary understanding of the sector (finance, strategy, legal, tax, HR).
The aim is to prepare to face such situation in their career and give them the skills
to deal with such situations. This certificate is open to all but it has some clear
adequacy with Strategic management, International finance and Law.
Social Business (chaired by Danone, Schneider Electric and Renault): The aim
of the Social Business Certificate is to train students in the innovative business
approaches that reduce poverty by offering new economic models for both
developed and developing countries, and investigating new methods of co-creation
and distribution of wealth to reduce poverty.
Digital Innovation for Business (chaired by Free, PriceMinister and Vente-privee.com)
I nnovation Management in Aviation & Aerospace (chaired by Safran)
L
 uxury Strategies (chaired by Kering)
Leadership (chaired by Pernod Ricard)

All electives listed above are taught in English. A few additional electives taught in
French are also available. 10-15% of electives are renewed every year.

Digital Transformation (chaired by Axa)

A
 dvanced Management. Dual degree students may take advanced management
electives instead of a certificate. They have the privilege to be able to choose their
electives both from the MBA and the MiM list of courses (provided no timetable
conflict).

10

New certificates are expected in 2015/16: check out HEC website regulary for more
information!

11

Xavier Burtschell
(MBA Class of 2015)
Local Head of Credit
Arbitage Trading
at BNP Paribas

Irene Fung
(MBA Class of 2015)
Senior Associate,
at PricewaterhouseCoopers

12

General profile of the hec mba class of 2014

General profile of the HEC MIF class of 2014

M
 edian age: 30
Women: 35%
Nationalities: 42
International students: 86%
Median GMAT: 690

Median age: 23 (youngest:19, oldest: 39)

Women: 28%
Nationalities: 29
International students in Accelerated Track : 71%, in Business Track : 88%
Median GMAT: 710

Some experience before HEC

Areva
Barclays
Bank of America Merrill Lynch
Capgemini
Citadel
Crdit Suisse
Ernst and Young
Fidelity Investments
GE
Goldman Sachs
HSBC
KPMG

Some universities:
Europe/Middle East:
American University of Beirut,
Lebanon
Bocconi University, Italy
cole Polytechnique, France
coles Centrales de Lille et Nantes,
France
Imperial College London, UK
America:
Northwestern University, USA
University of British Columbia, Canada
University of Pennsylvania, USA

Some universities
Europe/Middle East:
A
 merican University of Beirut,
Lebanon
B
 ogazici University, turkey
C
 ambridge University, UK
Ecole Polytechnique, France
America:
Georgia Tech, USA
Marine Corps University Quantico, USA
Northwestern, USA
Technologico de Monterrey, Mexico
University of California,
Asia:
Fudan University, China
India Institute of Technology, Delhi,
India

Lazard
Lloyds
Millenium Capital
Morgan Stanley
PWC
Rocket Internet
Schlumberger
Tata Consultancy Services
UBS
US Department of Energy
World Bank
...

Moscow State University, Russia

Suplec, France
Universidad Politecnico de Madrid,
Spain
...
Los Angeles, USA
University of Pennsylvania, USA
Universidad Sao Paulo, Brazil
University of Toronto, Canada
...
Keio University, Japan
Tsinghua University, China
...

Lomonosov Moscow State University,

Russia
London School of Economics, UK
University of Cambridge, UK
University of Mannheim, Germany
University of St.Gallen, Switzerland
...

Mihaela-Ruxandra Albu
(MIF Class of 2013),
INSA Lyon, France,
Trading and Structuring
at Barclays, London, UK

Yale University,
USA
...

Asia:
Indian Institute of Technology, Bombay, Peking University, China
India
T
 singhua University, China
National University of Singapore (NUS), ...
Singapore
Some experience before HEC:
Accenture
Bank of America Merrill Lynch
BNP Paribas
Deloitte
Deutsche Bank
DWS Investments
Ernst & Young
Gaz de France Suez
Miscellaneous:
Junior world champion in wind surfing
Junior national champions in
basketball, fencing and mountain bike

HSBC
KPMG
McKinsey
PWC
Roland Berger
Unicredit
...

Entrepreneurs
Air Force officer
...

Andre Hillenbrand
(MIF Class of 2013),
University of Mannheim,
Investment Banking
Analyst at Deutsche Bank,
London, UK

13

Career services and placement

Dual degree students have access both to the HEC MBA Career Management
Center and to the Master's programs Career Services.
Company presentations, seminars, conferences, round tables, mock interviews,
meetings with alumni are organized throughout the year.
Several career fairs are organized on campus during the year:
International Finance Career Fair (October) with leading international financial
institutions such as:
HSBC
Rothschild
Barclays
BNP Paribas
JP Morgan
Societ Gnrale
Citi
Lazard
Thomson Reuters
Credit Agricole
Merrill Lynch
UBS
...
Credit Suisse
Morgan Stanley
Deutsche Bank Exane
Nomura International
Goldman Sachs
RBS
Consulting Career Fair (November) with leading consulting firms such as:
CSC
Oliver Wyman
Accenture
Deloitte
PricewaterhouseCoopers
Arthur D. Little
Ernst & Young
Roland Berger
AT Kearney
Bain & Co
Eurogroup
Schlumberger BC
The BCG
Bearingpoint
KPMG
...
Beijaflore
L.E.K.
Capgemini consulting
McKinsey & Co

PLACEMENT
No placement report exists for the HEC MBA-MIF dual degree since it is a new
program. However, both HEC MBA and HEC MIF have a long placement history of
their own. The most common (~90%) placement outcomes for MIF graduates are:
A
 sset Management
Strategic Consulting
E
 quity Research
Structured Finance
M&A and Private Equity
Structuring
Sales
Trading.
Every year, the Financial Times conducts an independent survey of our alumni
3 years after graduation.
Results of the 2014 survey for the (pre-experience) HEC MIF are:
Average salary: $90,798
International mobility: #2 worldwide.

14

Results of the 2014 survey for the (post experience) HEC MBA are:
Average salary: $120,055
International mobility: #5 worldwide.

meet a MIF student

Philippe Chiaroni (Class of 2014)

Tell us briefly about yourself.

I studied mechanical engineering and worked more than 10 years
as a French Air Force officer. I have both Military Air Traffic
Control and Commercial Pilot licenses. I am also a fairly
experienced skydiver. I will be interning this spring with JP
Morgan in their asset management division in London and
hopefully, thanks to their ex-military program, join the company
afterwards.
How hard was it to be in the same classroom as younger students?
It was absolutely not a problem! Probably because I always liked the favorite poem of
General MacArthur:
Youth is not a period of time. It is a state of mind, a result of the will, a quality of the
imagination, a victory of courage over timidity, of the taste for adventure over the love
of comfort. A man doesnt grow old because he has lived a certain number of years. A
man grows old when he deserts his ideal
If one day you should become bitter, pessimistic and gnawed by despair, may God have
mercy on your old mans soul.
This poem is called Youth and was written by an American businessman, Samuel
Ullman, at the age of 78.
What advice would you give to someone with a similar profile as yours and who is
thinking of joining the HEC MIF?
Leaving a full-time job and going back to school is always a very difficult decision to
make. You need to accept that ALL plans eventually require to be significantly modified.
It is also important to take time to explain your significant other, kids, family and
friends that you will be less available for a while. Then focus on your goal, dont miss
any opportunity to discuss with professionals, work hard and hope to be a bit lucky!
What is your most memorable experience at HEC Paris?
I have lots of good memories! I especially appreciated the course on Securities Markets
with Professor Ioanid Rosu, the elective on volatility modelling and the two courses on
financial derivatives given by Mr Olivier Bossard and Mr Loic Henry for their handson approach and their willingness to share both their practitioner knowledge and
experiences.
I also cherish the opportunity offered by Mr Arnaud Apffel during his Responsible
Investing class to meet with Mr David Blood, Managing Partner and co-founder with Al
Gore of Generation Investment Management.
Finally, I really liked the fact that the MIF is a truly international program and that I
could make friends from all over the world.

15

THE CAMPUS: A PLAYGROUND FOR SELF-FULFILlMENT

MBA Events

Located close to Paris and Versailles, the 300-acre wooded HEC Paris campus is
one of the largest in Europe. The campus is also close to La Dfense, one of the
largest European business districts housing the headquarters of many multinational
companies. These companies interact with HEC Paris as both partners and as
potential recruiters.
Students can be housed on campus in a residence (with equipped individual rooms
and apartments reserved for couples and families), including meeting rooms, a
relaxation lounge, the Piano bar with a big screen TV, a laundromat and a reserved
indoor/outdoor parking area. The HEC gym is located a 2 minute walk from the
residence.

Cultural Weeks give the opportunity for students to show and share their cultural
awareness. They also add a fun element to the rigorous program and always finish
with an enjoyable and friendly dinner with a traditional meal
As part of HEC Paris MBA's emphasis on "learning by doing" and on experiential
learning, students are encouraged to organize conferences throughout the
year in order to put their leadership skills into practice. In recent years, the
best-recognized student-run conferences has been the Sustainable Business
Conference, which aims to discuss and look at ways to help business become
more sustainable in today's society.

Community Life
HEC Paris considers community life as one of the cornerstones of its education. It
develops a sense of responsibility, boldness and an enterprising mind. Belonging to
one or more clubs and associations is an absolute must on the campus! It is the best
way to make friends, meet company representatives, share ideals or hobbies with
others, have fun and take part in an activity.
Over the years, HEC Paris students have founded and now manage over 130 clubs
and associations (sports, culture, professional activities, humanitarian aid, public
affairs). Among them:
W
 omen In Leadership
Energy Club
Private Equity / Venture Capital - Finance Club
C
 onsulting Club
E
 ntrepreneurship Club
P
 artners' Club
Marketing & Media Club
International Society

MBA Tournament

HEC Paris Sports Clubs and Competitions

HEC Paris has excellent indoor and outdoor facilities on campus. These include:
a multi-purpose gymnasium, an indoor mountain climbing wall, a weight training
room and facilities for aerobics, fencing and martial arts.
1
 0,000 m2 of outdoor fields including tennis courts, an athletics track and two rugby/
football pitches.
The Sports Office is managed by a permanent staff of 25 qualified professionals and
coaches who teach the various sports offered. Each sport has its own club, run by
students in collaboration with the Sports Office.
The HEC Paris teams compete with other universities in all sports, such as the MBA
Tournament, Business School Coupe de France competition, the World Business
School Rugby Tournament and Les Mercuriales.

16

The MBA Tournament (MBAT) is a student-run 3 day sporting event that takes place
on the HEC Campus every year in May, with around 1500 MBA participants from
15 international schools. By particpating, you will have a unique opportunity to put
together a large scale project with your fellow MBA participants from around the
world. You will experience what it takes to manage a complex and multinational
organization, and you will have the opportunity to network with hundreds of MBA
students from all corners of the Earth.

HEC Community
Alumni Association
Founded in 1883, the HEC Alumni Association is one of the largest in France with more
than 45,000 members in 127 countries. It provides a platform for the exchange of
experiences, ideas and information, as well as facilitating entry into the professional
world and accompanying career advancement. Services and events include career
guidance, personal coaching, career fairs and seminars, monthly meetings with
business leaders and an annual international management forum drawing together
major senior business executives, experts and international business personalities.
In order to ensure HEC Paris international reputation and to maintain an active
network, professional groups are organized in 69 countries, of which the largest
chapters are in Paris, New York, London, Shanghai and Hong-Kong.
HEC Foundation
The HEC Foundation, a non-profit organization of select corporate members,
contributes to the development policy of HEC in the fields of:
Research
Establishing professional Chairs
Financial assistance to students and campus institutions
Visiting Professors Program
Development of teaching material
Innovation in the use of new learning technologies.

17

The Profile We Value

accreditations and achievements

Recognized as one of the leading European institutions of international standards,
HEC Paris is the first French management school to have received as early as 2000 the prestigious Triple Crown international academic accreditation AMBA - EQUIS AACSB.

For the Business track, candidates must have prior training in financial accounting,
corporate finance, investments, business statistics and calculus.
The selection is a 2 phase process: a first selection is based on the evaluation of your
application and supporting documents. Pre-selected candidates are then invited for:
a MBA interview: face to face with a HEC MBA alumna / alumnus in a nearby
location from your current workplace
a MIF interview: either face to face on campus or by Skype / videoconference with
a 3-member jury including the Program Director and/or a Professor and/or a MIF
alumna / alumnus and/or a current student of the program.

H
 EC Paris has been ranked #1 in the Financial Times general ranking of European
business schools in 2013 (http://rankings.ft.com/businessschoolrankings/
european-business-school-rankings-2013).

Successful candidates need to be admitted both by the HEC MBA and by the HEC MIF .

H
 EC Paris has been ranked #5 worldwide Alma Mater of Fortune 500 CEO's by
Times Higher Education (www.timeshighereducation.co.uk/news/alma-materindex-global-executives-2013/2007032.article).

To join the program in September 2015 and be part of an exciting academic and
social student life:

The HEC MIF has been ranked #1 worldwide for the 4th consecutive year in the
Financial Times Pre-experience Global Masters in Finance ranking (2014)
(http://rankings.ft.com/businessschoolrankings/masters-in-finance-preexperience-2014).
The HEC MIF is a partner program of the CFA.

The HEC MBA is featured in all international rankings of MBA programs. It is

currently ranked #8 worldwide by the Economist (www.economist.com/whichmba/
full-time-mba-ranking) and #21 worldwide by the Financial Times (http://rankings.
ft.com/businessschoolrankings/global-mba-ranking-2014).

hec Paris programs portfolio

Grande cole Masters Programs: Master in Management (MiM), Master in
Management & Public Affairs (MPA), Master in Management & Business Law (MBL)
O
 ne year Specialized Masters/MSc Programs
M
 BA Program (including a MIF-MBA dual Degree)
PhD Program
Executive Education Programs: TRIUM Global Executive MBA, Executive MBA,
Executive Masters Programs, Open-Enrollment Programs, Custom Programs and
Coaching.

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HEC Paris welcomes applications from candidates of all nationalities who:

are fluent in English
hold a Bachelor or Master's degree from a Tier-1 international institution with 2:1
honors or above (or equivalent: Deans list...)
have a strong quantitative background
will have at least 2 years of full-time, post-graduation, work experience by August 2015

HOW TO APPLY
1. Choose a session:
Session
periods

Application
deadlines

invitation
to interviews

Final
results

November
January
March
April

November 5, 2014
January 15, 2015
March 5, 2015
April 15, 2015

2 to 3
weeks after
application
deadlines

3 to 6
weeks after
application
deadlines

2. Apply online on http://appform.topapply.com/applicationformmodule/index/hec

and choose the Dual Degree Finance and desired intake.
Degree certificate(s)
All official academic transcripts obtained in a higher education institution,
exchange programs included (also to be sent to the school by mail)
Rsum (CV)
Scan(s) of your GMAT and/or GRE official test score report
Scan of your English language proficiency test score report (native English
speakers and graduates of fully English taught programs are exempted: see our
website for details)
2 online professional recommendations
Non-refundable application fee of 180 paid by credit card through the application
system.

Fees and Living Costs

Tuition fees (2015-2017): 64,000.
Tuition is paid in three installments, the initial 8,000 non-refundable initial deposit,
the first installment of 28,000 to be paid before July 2nd, 2015 and the last installment
of 28,000 before November 15th, 2015.
Remaining costs (from 1,000 to 1,500 per month in 2014) include housing and food,
mandatory insurance (health and civil liability), sports and leisure, phone and IT access

Funding your
studies
The French Ministry of
Foreign and European
Affairs allocates a large
number of grants to
international students.
Use Campus France Grants Search Engine
(www.campusfrance.
org/fria/bourse) to learn
about scholarships fitting
your nationality, age and
background.
The main French
Government Eiffel
Scholarship is open
exclusively to November
session candidates born
after 1985. For more
information:
www.campusfrance.org/en
Admitted applicants can
apply for HEC Excellence
scholarship. Excellence
Scholarships consist in a
partial tuition waiver for
exceptional applicants. They
are in short supply, which
is why we invite applicants
to supply any relevant
additional information (e.g.
need based elements) that
will help us allocate the
scholarships in an optimal
manner.
Students may also finance
the cost of their education
with student loans, which
typically carry low interest
rates and can be paid
back following graduation.
French banks generally
require a guarantor living
in France. See our website
for student loan schemes
available by nationalities.

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HEC Paris
1, rue de la Libration
F 78351 Jouy-en-Josas Cedex
FRANCE
Tel: +33 (0) 1 39 67 70 00
Fax: +33 (0) 1 39 67 94 36
>> www.hec.edu

Contact:

Mathieu Cotton
Admission Manager
Tel.: +33 (0) 1 39 67 95 63
E-mail: info.mba-mif@hec.fr
>> www.mba.hec.edu/Dual-Degrees

Brochure non contractuelle. Photographies : Jean-Marc Biais pour HEC Paris

Imprim sur un papier certifi PEFC par un Imprieur lablis Imprim Vert.

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