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  • 7/29/2019 Brochure MIF 2013 Bd-1

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    international FinanCe

    2013MSc/MS

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    The financia cisis has taght s many essons. Nowmoe than ee, finance is a fied which eqiespassion and commitment bt aso stong ethics andadanced technica skis. If yo ae ooking at opogam, thee is a fai chance that yo hae eithe afist taining in finance (bsiness tack) o in maths,physics o engineeing (acceeated tack) and ae now

    ooking to acqie the exta set of skis that wi poidea pathway to a sccessf caee in finance. Many high-qaity pogams exist in Eope, so yo ae debatingwhich one to choose.

    Finance and economics hae aways been essentiacomponents of HEC Pais DNA. Oe the yeas, the MIF(Mastes in Intenationa Finance) and the "FinanceMajo" of o MSc in Management hae sppied majointenationa inestment banks with thei agestcontingent of Eopean gadates. They aso iigated

    the Fench and Eopean economies beyond the bondaies of Finance: oamni hae a stong toehod in fieds as diese as stategic consting, topmanagement of indstia fims o pbic poicy making.

    Thee ae many ways in which edcation at HEC Pais is diffeent. O appoachis deepy ooted in the Fench tadition of stong anaytics. We ae ooking focandidates who ae stong qantitatiey and we wi do o best to chaenge themding the pogam. Anothe feate is o obsession with taio designing opogams to o stdents. The two diffeent tacks, bsiness and acceeated,aow s to eeage on pe-existing skis and knowedge to design the cicmin a way that wod be impossibe in a one size fits a egime. Finay, not onydo we beiee in giing o stdents stong theoetica gonding with cosestaght by wod cass eseaches, bt aso hands on knowedge with cosestaght by top pactitiones woking fo, o at the head of, intenationa banks,

    copoations and consting fims. This niqe combination is at the heat of theattactieness of HEC Pais gadates fo intenationa ecites.

    As I wite this message, I hae jst finished eciting stdents fo the Cass of2013. I mst say that I am qite excited by the pofies of the men and womenthat I met thoghot the yea, coming fom a fie continents. I hae beendeepy impessed by thei academic, pesona and sometimes een pofessionaachieements. I am aso pod that they chose HEC Pais as the next step in theisccessf caee. I hope that yo wi want to come and join them: we ae ookingfowad to meeting yo soon!

    Jacqes Oiie, PhD, Pofesso of Finance and Pogam Diecto.

    EDITOrIAl

    3

    HEC Pais Camps

    Jacques Olivier, PhDProfessor of Finance andProgram Director

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    GENErAl OvErvIEWO pogam aims to ffi two objecties within a shot peiod of time: ay thenecessay fondations fo any caee in finance and poide in-depth knowedgein each stdents fied of speciaization. We achiee this goa by eeaging on thespecific knowedge and expeience stdents hae acqied befoe joining HEC Pais:

    Business track students: aeady hae taken at east intodctoy ee coses infinancia acconting, copoate finance, financia makets, deiaties and statisticsin a Tie-A intenationa bsiness schoo o niesity. They feqenty hae had afist intenship in banking o consting and ae ooking fo an adanced set of toosto jmp-stat thei caee.

    Accelerated track students: hae eceied fist cass edcation in a highyqantitatie fied (maths, physics, engineeing, econometics...) and wish to switchthei fied to finance. They may o may not hae taken some coses in finance andthey may o may not hae had a fist intenship in banking o consting.

    Bsiness and acceeated tacks mainy diffe in coses taght ding the Fa tem.Bsiness tack stdents foow the same coses as the Majee Finance stdentsof the HEC MSc in Management pogam, stating a coses at an adanced eeand getting a fist oppotnity to speciaize thogh bock eecties. Acceeatedtack stdents stat a finance coses at an intodctoy ee. Howee, they gothogh an intensie Fa tem whee coses ae taght making f se of theistong qantitatie skis. Business track and accelerated track students haveaccess to the same pool of electives in the Spring term and have the same careeropportunities at the end of the program.

    THE FrENCHlANGuAGE

    MIF stdents do not needto speak Fench to eno

    in the pogam as acoe coses and mosteecties ae offeed inEngish. Howee, someknowedge of Fench canbe sef to enjoy the fHEC expeience : becomepofessionay bictaand optimize netwokingwith Fench stdentsand amni. This is whyHEC Pais offes optiona

    Fench angage cassesfee of chage to itsintenationa stdents.

    Stdents may aso egistefo a Fench angagecose (TEF cetificate a ees) in Agst.This is an exceptionaoppotnity to eanFench and to ie in theey heat of Pais befoe

    joining the Camps (www.

    hec.ed/MSc/Camps/Fench-Smme-Schoo)

    Core Courses30 hos

    + Electives(common to the two tacks)

    150 hos

    Semester 1 Semester 2

    AccelerAted trAck:Core courses

    250 hos

    Business trAck:

    Core Courses+ Block electives210 hos

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    MSvs. MSC

    MS (Maste Spciais)and MSc ae two degeesaccedited by the FenchConfrence des GrandesEcoles. They diffe in twomain aspects: eigibiityeqiements and engthof stdy.

    An MS is a postgadatedegee which eqieshaing obtained a mastedegee pio to joining

    HEC with a toeance fostdents with 4 yeasof edcation afte highschoo (p to 30% of theCass). It coesponds to75 ECTS cedits.

    An MSc is a gadatedegee open to stdentshaing obtained aBacheo degee otsideFance o haing obtainedan M1 degee in Fance.

    It coesponds to 90 ECTScedits.

    The main impicationfo the HEC MIFis thatstdents psing anMS degee need not takecoses fom a HECcetificate to gadate.They ae ths availableto start a full-time job asearly as mid-April.

    A stdents accepted fo

    the HEC MIFpogam aeconsideed by defat topse an MSc degee.Howee, any eigibestdent may ask dingthe yea to switch to theMS cicm instead.

    The two main easons todo so ae if yo ae beingoffeed a job statingin Api o May o if yoae not inteested in

    any of the HEC Paiscetificates.

    PrOGrAM STruCTurEHEC MIF coses take pace fom Septembe to Api. Stdents psing a MScdegee contine coses nti Jne within one of the HEC cetificates. A HECcetificate coesponds to a gop of coses with a sectoia focs on a specificaea sch as Enegy and Finance, rea Estate o Socia Bsiness. HEC cetificatesae optiona fo stdents psing a MS degee. Finay, MIF stdents mst wite apofessiona thesis and ffi a 4 to 6 months intenship eqiement in ode togadate.

    The pofessiona thesis is witten ding the intenship nde the joint speision ofa pofessiona and of an HEC facty membe. It constittes an impotant componentof the HEC MIF eaning expeience. The objectie of the thesis is to expoe howctting-edge eseach is being impemented in the daiy pactice of finance in ahighy competitie enionment.

    The intenship eqiement is satisfied when the stdent competes a pofessionaexpeience of at east 4 months in finance o eated fieds sbseqent to his o hecosewok at HEC Pais. It is howee impotant to stess that this pofessiona

    expeience may not be an intenship pe se. Our policy at HEC Paris is that the besttype of internship is a full-time job! We stongy encoage o stdents to ook fopemanent hiing stating as soon as the cosewok peiod is oe.

    The MS o M.Sc. in Intenationa Finance is ganted when cosewok, pofessionathesis and intenship eqiements ae ffied.

    Certificatesoptiona fo MS stdents)

    100 hosEnegy & FinanceDigita Innoation fo BsinessInnoation Management in

    Aiation and Aeospacelxy StategiesSocia Bsiness

    Internship and ThesisSome empoyes of the cass of 2012 :Bacays Capita,Godman Sachs,Mc Kinsey,JP Mogan,lazad,uBS...

    (A f-time job satisfies the Intenship eqiement)

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    POrTFOlIOCore courses and block electives (business track)

    Adanced Financia Statement Anaysis

    Asset Management

    Asset Picing TheoyCopoate Finance Theoy

    Deiaties

    Empiica Methods fo Finance

    Ethics Semina

    Financia Dimensions of Stategic Decisions

    Financia Modeing

    Financia Statement Anaysis refeshe

    Fixed income

    FX Deiaties Tading

    Intenationa FinanceMeges and Acqisitions

    Qantitatie Asset Aocation

    Secity Makets: Mechanisms, liqidity and Inestment Decisions

    Soft Skis Semina

    vaation refeshe

    Core courses (accelerated track)

    Acconts and Financia Statement Anaysis

    Asset Picing Theoy

    Copoate Finance (I and II)

    Empiica Methods fo FinanceEthics Semina

    Fixed income and deiaties

    FX Deiaties tading

    Intenationa Macoeconomics

    Intodction to Finance

    Qantitatie Asset Aocation

    Soft Skis Semina

    Stcted Finance

    Taxation.

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    Electives (both tracks)

    Adanced Asset Picing

    Adanced Fixed Income

    Atenatie Inestments

    Asset Management - fixed income

    Catastophe risks

    Cedit Cisis: histoica and technica anaysis

    Debt restcting

    Distessed Fims and cedit isk

    De Diigence

    Enegy and Finance - geopoitica aspects

    Enegy Tading

    Eqity Capita Makets

    Ethics : Financia anaysts and Potfoio manages

    Financia Dimensions of Stategic Decisions (accelerated track)

    Financia Engineeing and Deiaties

    Financia Instittions and Copoate Stategy

    Financia Modeing (accelerated track)

    Financing decisions of Fims

    Fixed Income - Emeging Makets

    Isamic Finance

    lBO Stcting and Modeing

    lega and Contacta Isses in Copoate Finance

    Modes of voatiity

    Nmeica Anaysis

    Oigination of Stcted Podcts

    Pobabiity and Stochastic Pocesses

    risk Management

    Secity Makets: Mechanisms, liqidity and Inestment Decisions (accelerated track)

    Stategies fo Intenationa Expansion

    Stcted Finance (business track)

    Topics in vaation.

    A eecties isted aboe ae taght in Engish. Haf a dozen additiona eectiestaght in Fench ae aso aaiabe.

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    THE CErTIFICATESSponsoed by a company, the Cetificates ae a set of intediscipinay cosescoesponding to appoximatey 100 contact hos as we as bsiness pojects andothe types of fied wok eated to a gien secto. Each stdent joins one cetificateand wi be awaded an additiona HEC cetificate if he/she aidates a the eqie-ments of the cose.

    HEC MIF stdents ae gaanted admission in Energy & Finance (with Deoitte andSocit Gnae) :

    Inestment decisions hae become moe and moe compex with the discoey thatmost cent foms of enegy hae a negatie cimatic impact. This eaity eqiescopoations to deepy ethink thei bsiness modes, indiidas to change theibehaio, and goenments to adopt isionay poicies. The Enegy & Finance Ce-tificate is an exceptiona oppotnity fo paticipants to confont the isses in thissecto and acqie the knowedge and anaytica skis that wi hep them makeinfomed decisions as impotant contibtos to the cent indstia eotion.

    HEC MIFstdents ae aso eigibe to the foowing fo cetificates:

    Digital Innovation for Business (with Fee, Meetic, Pixmania, PiceMiniste andvente-piee.com):

    The Cetificate poides HEC stdents with the oppotnity to embace e-bsinessthogh an entepeneia appoach. They wi expoe the aios ways digitatechnoogies enhance innoation thogh new bsiness modes, e-commece,

    digita commnication, coaboatie maketing, fnding of new entes, etc.Innovation Management in Aviation & Aerospace (with Safan):

    The genea objectie of the cose is to poide paticipants with a set of skisand instments to manage fims in high technoogy sectos and to ndestand theindsty dynamics in these sectos. To this end, the cose intodces conceptafamewoks based on ctting-edge eseach in economics, stategy and technoogymanagement.

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    Luxury Strategies (with PPr - Gcci, Yes Saint laent, Aexande McQeen,Baenciaga, Stea McCatney, Segio rossi, Bocheon...):

    The lxy Stategies cetificate is a bsiness oiented cetificate, seeking topoide fte manages with an in-depth ndestanding of the niqe es fo

    the effectie management of xy bands and companies.

    Social Business (with Danone, Schneide Eectic, renat and a DiectionGnae de a Cohsion Sociae and piate donos):

    The aim of the Socia Bsiness cetificate is to tain stdents in the innoatiebsiness appoaches that edce poety by offeing new economic modes fo bothdeeoped and deeoping conties, and inestigating new methods of co-ceationand distibtion of weath to edce poety.

    New cetificates ae expected in 2013/14: check ot the HEC website egay fomoe infomation !

    DOuBlE DEGrEE PrOGrAMTsinghua SEM Master in Finance

    A new 2-yea dobe degee pogam is being ceated in Fa 2012 coaboationwith the Schoo of Economics and Management of the pemie Chinese niesity,Tsingha uniesity.

    HEC stdents who want to join the dobe degee pogam need to appy ding theSping tem of the HEC MIF.

    Pe-seection wi be made on the basis of academic ests in the Fa tem andfina decision wi be made on the basis of an inteiew with Tsingha SEM Factymembes. Seected stdents wi join the Tsingha SEM Maste in Finance fo asecond yea of stdy and wi eceie the two degees of HEC MIF and Tsingha SEM

    Maste in Finance at the end of the two yeas.The dobe degee pogam with Tsingha SEM is the oppotnity to combine stongacademic taining in Finance offeed by eading pogams with a niqe coss-cta expeience.

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    FACulTYThe qaity of an academic pogam no dobt depends on the qaity of the pofessos.The team teaching the MIF pogam is made p of eseaches and pofessionafinance expets o manages who ae among the best in thei fied of expetise.

    Thierry FoucaultPofesso of Finance, teaches an eectie on maket iqidityin the HEC MIF. Thiey won the Eopace pize fo BestFench reseache in Finance nde the age of 40 in 2005and moe ecenty the awad fo best eseach pape onfinancia makets and instittions by the Westen FinanceAssociation. He is an associate edito fo theJournal ofFinance:

    ca yo a abo h wo ha o yo wg

    h eopa pz?

    It was research about the impact of market organization onits liquidity and volatility. Among other things, I established, along with various coauthors,that the orders placed on the Paris Stock Exchange contain information about futurevolatility. This is an important result for valuation of financial products such as options,not yet established for the American markets due to lack of adequate data.

    Wha o o yo ah h Hec MiF?

    I give a course on the causes of financial market illiquidity and the strategies devisedby traders and portfolio managers to minimize the impact of illiquidity on their

    performance. This is a subject of utmost importance for brokers, traders and portfoliomanagers. It is right at the heart of current debates in the financial industry.

    Wha av wo yo gv a who wa o wo h wo of fa?

    Choose a finance program that gives a broad view of the conceptual and technicalknowledge required to work in finance. The training must deal with the techniques

    of financial asset valuation, but must also cover those of corporate finance (issues,mergers and acquisitions), the economics of the banking and insurance sector, etc. Itis precisely this overview that the MIF offers.

    Loc HenryHead FX Stcting Pais, Cdit Agicoe CIB:

    ca yo gv a bf mmay of yo a o fa a yo

    poo wh cayo?

    After an engineering diploma (HEI) in 1994 and the HECMIF in 1995, I started my career at Crdit Agricole Indosuezas a foreign exchange options trader in Hong Kong, then as afixed income trader in Paris. In 1999, I joined Hiram Finance as

    a capital markets consultant. From 2001 to 2005, I worked atBarep Asset Management, where I was Head of Interest Rates/Foreign Exchange alternative funds. Then, I joined Robeco asHead of money market and dynamic money market funds. And,

    since 2006, I have been working at Crdit Agricole CIB, as Head of Foreign-ExchangeStructuring in Paris.

    0Baise Aaz,Pofesso

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    Aog o yo, wha a h og po of Hec MiF ?

    The MIF students offer excellent skills in mathematics with an in-depth financialknowledge. And since the program places as much emphasis on capital markets

    as on corporate finance, alumni can be found in all the top added-value financialcareers: trading, structuring, sales, risk management, research, quantitative, fundmanagement, mergers and acquisitions, equity capital market, structured financing,

    project management.

    Wha av wo yo gv o a who wa o wo h wo of fa?

    The students who wish to make a career in finance have varied profiles and ambitions,but I would stress the following two points: choose the best possible school (orcurriculum) so that you get your career off to a good start and try to take on jobs thatwill allow you to continue to learn, even after several years experience.

    David ThesmarPofesso of Finance, teaches copoate Finance in the

    MIF. Daid is a membe of the Fench Conci of EconomicAdisos. He is aso an associate edito fo theJournal ofFinance:

    ca yo a abo yo bago?

    After studying at the Ecole Polytechnique and ENSAE,I joined the French National Statistics Institute as a researcherand teacher, and worked on macroeconomic forecasts aswell. I joined HEC Paris in September 2005, working for theEconomics and Finance Department where I teach mainly

    corporate finance.

    i 2007, h Cece des Economistes ale Monde awa yo h pz fo h byog Fh oom. ca yo gv a bf gh o h wo ha o h awa?

    Since my thesis, I have focused on corporate organization. Why are hierarchiesflatter in modern companies? Why do tasks tend to be less clearly defined? Why haveemployees been given greater autonomy? Why the upsurge in outsourcing? Gradually,my research has turned towards the financial determinants of work organization: howdoes organization in a company belonging to an investment fund differ from that in afamily firm? In what ways does shareholder pressure modify corporate governance?

    A MiF go hogh wo o o opoa fa. Why o yo f

    mpoa fo a f a o a maag o hav o owg of

    opoa fa?

    Securities traded on markets are issued by firms. Without a clear view of the tradeofffaced 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, becauseof tax savings, or decrease, because of risk. When a firm spins off a major asset, itmay be good or bad news for stockholders. When a firm announces an equity issue ora hostile takeover, you need to know if you should buy or sell its stock. Whether youinvest for the short run or for the long term, you need to be comfortable with this typeof reasoning. This is exactly what a first course in Corporate Finance focuses on: theimpact of a firms financing choices on market value.

    Ulrich Hege, Pofesso

    Christophe Prignon,Associate Pofesso

    11

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    MEET A MIF STuDENT

    Why did you choose HEC?

    I chose HEC for three reasons. First: I wanted to attend a school which was reputedfor its quantitative finance program and HEC was a perfect fit. I found the quality of thecourses and the intellectual prowess of the faculty extremely impressive. The focuson developing modelling and statistical skills has helped me a great deal already. Theexcellent placement record of the Finance class in Trading and Structuring desks is acase in point.

    Second: I was looking for a shift in my career path from Engineering to Finance. HECsFinance curriculum is designed in a way which makes it easy for someone with no priorknowledge in Finance to easily comprehend and assimilate this new body of knowledge.Of course, it helped that I had studied calculus and statistics in Engineering school;nevertheless there are very few top ranked schools which accept engineering studentsinto the masters programs in Finance.

    And finally, as the third reason: I wanted to spend some time in this beautiful country,experience a non-anglican culture and learn a new language. Ergo, HEC.

    Courses, conferences, meetings, outings What are the most significant memo-ries of your year at HEC?

    Let me share a couple of experiences. I especially enjoyed my course on QuantitativeMethods for Asset Management. During this course, we were provided with a chal-lenging set of assignments that helped strengthen my skills in statistical analysis andoptimisation methods. This was very interesting since I had already used these toolsin Engineering analysis, but it was great to know how financial theories like CAPM andFactor models use a very similar kind of math to analyse securities and portfolios.During this course, we had guest lectures by the Head of Risk Management at a HedgeFund and by the Head of Asset Management of BNP Paribas. I deeply appreciated thefact that courses were often taught jointly by professors and practitioners. This helpsone develop a very balanced perspective about how markets work.

    In terms of outings and social events, I dont think theres another school in Europewhich has as vibrant a social life on campus as does HEC. There are weekend outingsto explore the museums, to the French countryside, trips to Disneyland, to Brusselsand so on. And if you enjoy partying, then ones organised on campus are the perfectway to unwind after a weeks worth of regressing, back testing, data fitting, forecasting,simulating and modeling!

    What advice would you give to students who aspire to subscribe to HEC MIF?

    15 years from now, when you are invited to speak at a conference on InvestmentManagement, you will perhaps be asked the question What is the smartest investment

    you have ever made ? For me, the answer would be simple enrolling in the HECsFinance Master! It is by far the best investment of my time and money. You will study at

    the best business school in Europe, have access to the best jobs, make friends with thesmartest people across the globe and to top it all, you will enjoy every moment of yourlife here.

    Shatajit Basu(Cass of 2011),Financia Constant,Oie Wyman,Dba

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    Some Students:

    Christian Haehl,uniesity of St Gaen,

    Switzeand

    Siguo Aoi Chen,Beijing uniesityof Aeonatics &

    Astonatics, China

    Jean-Franois Baillet,Ecoe Centae lie,

    Fance

    Alberto Ricci,Bocconi niesity,Itay

    Basak Barcin,Gaatasaay uniesity,Tkey

    Gino Kanaan,Ameican uniesity of

    Beit,lebanon

    Marc-Antoine Einsetler,Ecoe Poytechniqe,Fance

    Benjamin Laufer,rottedam Schoo of

    Management,The Netheands

    Veralene Tan

    Nationa uniesity ofSingapoe

    Sandeep Nair Sivaram,

    Indian Institte ofTechnoogy Madas,

    India

    THE MIF ClASS OF 2012 AT A GlANCE

    Average age: 23

    Average GMAT: 705

    Experience/internship before HEC: Astom, CEA (Fench atomic enegy agency),

    Cedit Sisse, Deoitte, Enst and Yong, GE, Godman Sachs, HSBC, Mc Kinsey...Miscellaneous: nationa champions (jnio ee) in tennis and swimming,

    entepenes, stdent eades...

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    THE CArEEr CENTEr

    The HEC Copoate reations Depatment aims at faciitating the pofessionaintegation of stdents. The esoces aaiabe ae:

    The Caee and Copoate Infomation Cente which poides stdents with

    fies on cent job & intenship oppotnities, onine intenationa diectoies,bsiness eiews and gides on job seach stategy, infomation on companies inFance and aboad, infomation on jobs and sectos

    The Caee Seices which oganize company pesentations, seminas,confeences, ond tabes, mock inteiews with ecites, meetings with amniand job/intenship eents thoghot the yea

    Majo Caee Fais. Seea caee fais ae oganized on camps thoghot the yea:

    International Finance Career Fair (Accacy, Axa, Bacays, Backstone, BNPPaibas, Citi, Cdit agicoe, Cdit sisse, Deoitte, Detsche bank, Enst &yong, Exane, GE, Godman Sachs, BPCE , HSBC, Jeffeies, JP Mogan, lazad,Mazas, Mei lynch, Messies Mais & Associs, Mogan Staney, NomaIntenationa, Oddo, Oie Wyman, PicewatehoseCoopes, rBS, rothschid,

    Socite Gnae, Thomson retes, uBS...) Consulting Career Fair (Accente, Ath D. litte, AT Keaney, Atos, Bain &

    Co, Beaingpoint, Beijafoe, Capgemini Consting, Coombs Consting, CSC,Copoate vae Associates, Deoitte, Enst & Yong, Estin & Co, Eogop,Kea Patnes, KPMG, Kt Samon, l.E.K., Mazas, Mckinsey & Co, Monito,OC&C, Oie Wyman, PicewatehoseCoopes, roand Bege, SchmbegeBC, Socom, Sopaconsting, The BCG, Weae...)

    PlACEMENT

    The most popa job oppotnities fo yong MIF gadates ae:

    asset management /M&A and piate eqity / stcted finance / stategicconsting / saes / tading / stcting.

    Since 2011, TheFinancial Times seys amni of mastes in finance wodwide3 yeas afte gadation. The ests of the sey fo the HEC MIF ae:

    Average salary: $93.000 ($98.000 in 2011) Placement success: #1 wodwide (pe-expeience mastes, #2 in 2011) Career rank: #2 wodwide (pe-expeience mastes, #1 in 2011).

    HEC PArIS AND COrPOrATE lEADErS

    Eey yea, a anking of niesities is done based on the nmbe of amni who

    become CEO of Fotne Top 500 companies. HEC Paris is ranked #4 in the worldand #1 in Europe. The anking's methodoogy, data and ests can be fond at:www.mines-paistech.f/Actaites/Pr/ranking2011EN-Fotne2010.htm.

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    rECENT MIF GrADuATES, WHErE ArE THEY NOW?

    Mickael Roger(Cass of 2011),

    M&A Anayst,uBS Inestment Bank,

    london

    Alexandre C. Nogueira(Cass of 2011),

    Weath Management,Godman Sachs,

    So Pao

    Badr Ababou(Cass of 2011),

    FX Saes,Bank of AmeicaMei lynch,

    london

    Victoire David-Poinsier(Cass of 2011),M&A Anayst,

    Bacays,Pais

    Delia Zanoschi(Cass of 2011),Bsiness Anayst,McKinsey & Company,Begim

    Francois Crucifix(Cass of 2011),Tading,uBS Inestment Bank,london

    Kris Bjrn Jeppesen(Cass of 2011),Piate Eqity / PIA,Godman Sachs,london

    Iulia Zanoschi(Cass of 2011),

    Financia Anayst,uBS Inestment Bank,

    london

    Kenza Zouari(Cass of 2010)Emeging Makets Saes,Bacays Capita,

    london

    Davy Ngy(Cass of 2010),

    Tading,Godman Sachs,

    london

    Jean Benot Michel(Cass of 2010),

    IBD Anayst,Bacays Capita,london

    Aurlien Roelens(Cass of 2010),Piate Eqity Associate,Cbe Infastcte,lxembog

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    CAMPuS lIFElocated cose to Pais and vesaies, the 300-ace wooded HEC Pais camps isone of the largest in Europe. The camps is aso cose to La Dfense, one of theagest Eopean bsiness disticts hosing the headqates of many mtinationacompanies. These companies inteact with HEC Pais both as patnes and as

    potentia ecites.Stdents can be hosed in one of the 1,550 indiida ooms o 70 apatments oncamps.

    Community Life

    HEC Pais consides commnity ife as one of the conestones of its edcation. Itdeeops a sense of esponsibiity, adacity and an entepising mind. Beonging toone o moe cbs and associations is an absote mst on the camps! It is the bestway to make fiends, meet company epesentaties, shae ideas o hobbies withothes, hae fn and take pat in an actiity.

    Oe the yeas, HEC Pais stdents hae fonded and today manage oe 120 clubs

    and associations (spots, cte, pofessiona actiities, hmanitaian aid, pbicaffais).

    Stdents pan socia eents, spots tonaments, concets and pays; they initepoiticians and bsiness vIPs to speak and debate on cent affais; they hep peopein need thoghot the wod; they wecome foeign stdents

    International Student Association

    HEC IS is a stdent-n association aimed at binging Fench and intenationastdents togethe thogh eents sch as the wecome week, Discoe Fanceweekends and aios on-camps actiities.

    HEC Students Union

    Known as the BDE (Bea des es), the nion is n by a team of stdents whoae eected annay. Its many esponsibiities incde wecoming incoming stdents,oganizing concets, theate podctions and othe socia eents sch as the famosHEC Pais paties and the anna HEC Gaa. It aso pbishes the camps magazineand coodinates the actiities of the othe cbs.

    HEC Paris Sports Clubs and Competitions

    HEC Pais has exceent indoo and otdoo faciities on camps. These incde amti-ppose gymnasim, an indoo montain cimbing wa, a weight tainingoom and faciities fo aeobics, fencing and matia ats.

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    8,000 m2 of otdoo fieds incding tennis cots, an athetics tack and two gby/footba pitches.

    The Spots Office is managed by a pemanent staff of 25 qaified pofessionas andcoaches who teach the aios spots offeed. Each spot has its own cb, n bystdents in coaboation with the Spots Office.

    The HEC Pais teams compete with othe niesities in a spots, sch as theBsiness Schoo Cope de Fance competition and the Wod Bsiness Schoo rgbyTonament and les Meciaes.

    HEC COMMuNITYAlumni Association

    Fonded in 1883, the HEC Amni Association is one of the agest in Fance withmoe than 45,000 members in 113 countries. It poides a patfom fo the exchangeof expeience, ideas and infomation, faciitates enty into the pofessiona wodand accompanies caee adancement. Seices and eents incde caee gidance,pesona coaching, caee fais and seminas, monthy meetings with bsiness

    eades and an anna intenationa management fom dawing togethe majosenio bsiness execties, expets and intenationa bsiness pesonaities.In ode to ense HEC Pais intenationa eptation and to maintain an actienetwok, pofessiona gops ae oganized in 63 conties of which the agestchaptes ae Pais, New Yok, london, Shanghai and Hong-Kong.

    HEC Foundation

    The HEC Fondation, a non-pofit oganization of seect copoate membes,contibtes to the deeopment poicy of HEC in the fieds of: reseach

    Estabishing pofessiona Chais

    Financia assistance to stdents and camps instittions visiting Pofessos Pogam

    Deeopment of teaching mateia

    Innoation in the se of new eaning technoogies.

    HEC Pais teams compete with othe niesities in a spots, sch as the BsinessSchoo Cope de Fance competition and the Wod Bsiness Schoo rgbyTonament and les Meciaes.

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    ACCrEDITATIONS AND ACHIEvEMENTSrecognized as one one the eading Eopean instittions of intenationa standads,HEC Pais is the fist Fench management schoo to hae eceied as eay as 2000- the pestigios Tipe Cown intenationa academic acceditation AMBA - EQuIS- AACSB.

    HEC Pais has hed the number 1 spot in the Financial Times genea anking ofEuropean business schools since 2006.(http://ankings.ft.com/bsinessschooankings/eopean-bsiness-schoo-ankings-2011)

    The HEC MIF has been anked number 1 worldwide in the Financial TimesP-xp Goba Ma Fa anking (2012) fo the ast two yeas.

    (http://ankings.ft.com/bsinessschooankings/mastes-in-finance-pe-expeience-2011)

    Othe pogams offeed by HEC Pais egay appea in top positions of ankings inthe nationa and intenationa pess, sch as Business Week, The Economist,AmericaEconomia, Forbes...

    HEC PArIS PrOGrAMS POrTFOlIO

    Maste in Management - Grande cole pogamOne yea f time Mastes PogamsMBA pogamPh.D. pogamExectie edcation pogams:TrIuM Goba Exectie MBAExectie MBAExectie Mastes pogamsOpen-Enoment pogamsCstom pogams and coaching.

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    FuNDING YOurSTuDIES

    The Fench Ministy ofFoeign and EopeanAffais aocates a agenmbe of gants tointenationa stdents.use Camps Fance -Gants Seach Engine(www.campsfance.og/fia/bose) to ean abotschoaships fitting yonationaity and backgond.

    The main FenchGoenment EiffeSchoaship is openexclusively to Novembersession candidates.Fo moe infomation:www.campsfance.og/en

    Admitted stdents mayappy fo the HEC Meitbased Schoaship. Speciaattention wi be gien toappicants fom non-Euconties.

    Stdents haing stdied inFance the yea befoe andhaing obtained a "BoseCrOuS po aison sociae"

    may appy fo the HEC Needbased Schoaship.

    Stdents may aso financethe cost of thei edcationwith stdent oans, whichtypicay cay ow inteestates and can be paidback foowing gadation.Howee, Fench banksgeneay eqie agaanto iing in Fance.

    THE PrOFIlE WE vAluEHEC wecomes appications fom candidates of a nationaities, who ae fent in

    Engish. They mst aso:Business trackHod a Bacheo o Maste's degee fom a Tie-A intenationa instittion

    2:1 honos o aboe (o eqiaent: Deans ist...) Hae pio taining (at east intodctoy ee) in financia acconting,

    copoate finance, inestments, deiaties, bsiness statistics and cacs.Accelerated track Hod a Bacheo o Maste's degee fom a Tie-A intenationa instittion, o a

    maste degee fom a Fench niesity o engineeing schoo (Gande Ecoe)2:1 honos o aboe (o eqiaent: Deans ist...)

    Hae a highy qantitatie taining: maths, physics, engineeing,econometics...

    HOW TO APPlYA appications ae made onine: https://admissions.hec.f/en

    The following supporting documents must be attached electronically to yourapplication before the appropriate deadline:

    Degee cetificate(s) o cent enoment cetificateA officia academic tanscipts obtained in a highe edcation instittion,

    exchange pogams incdedrsm (Cv)GMAT o GrE o TAGE MAGE officia test scoe epotIElTS o TOEFl o TOEIC test scoe epot except fo natie speakes of Engish

    o stdents who hae eaned a niesity degee fy taght in Engish angage2 refeence lettes to be fied ot onine by yo efeees. At east one etteshod be fom a pofesso.

    The pogam eqies payment of a non efndabe 100 appication fees(exemption fo appicants fom PaisTech schoos, ISAE, ENS um o CrOuSschoaship hodes).

    Incompete appications wi not be pocessed.

    The selection is a 2 phase process:

    A fist seection is made based on eaation of yo appication and sppotingdocments.

    The pe-seected candidates wi be then inited fo a pesona o web-based

    inteiew.The inteiew takes pace 2 to 4 weeks afte the appication deadine. Fina estsae annonced 4 to 6 weeks afte the appication deadine.

    Application Deadlines

    We hod 4 seection sessions fo one intake in Septembe 2013:

    November 4th 2012January 13th 2013March 10th 2013April 14th 2013.

    FEES AND lIvING COSTSAnna tition (2013-2014): 20,900 fo Eopean union stdents, 24,600 foNon-Eopean union stdents. Tition is paid in two instaments, the fist ponconfimation of enoment and the second in Septembe 2013.

    remaining costs (appoximatey 1,000 pe month in 2012) incde hosing and food,compsoy insance (heath and cii iabiity), spots and eise, phone and IT access

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    HeC Ps

    1, e de a libationF 78351 Joy-en-Josas CedexFrANCETe: +33 (0) 1 39 67 70 00Fax: +33 (0) 1 39 67 94 36>> www.hec.ed

    Contacts:T. : +33 (0) 1 39 67 73 52 / 95 40 / 96 95

    Fax : +33 (0) 1 39 67 73 04E-mai: [email protected]>> www.hec.ed/MSc

    Brochu

    renoncontractuelle.

    Photographies:Jean-MarcBiaisp

    ourHECParis

    Imprim

    surunpapiercertifiPEFCparunImprieurlablisIm

    primvert.