Regional MBA Job Markets: Belgium

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Regional MBA Job Market: Belgium – Straight Talk from a Booth Alum

Today we’re speaking with Kris Vansanten, MBA Booth ’95, who shares this thoughts on the small country that could just be the job gem you’ve been looking for. Let’s hear more. . .

CareerMee: Is the MBA as ingrained in business culture in Belgium as it is in the States/other places in Europe? Have you noticed any trends?

Kris: In Belgium the MBA is less embedded in business than it is in the States. Many people are in top management positions without an economic education background. However we see increasingly a trend wereby people are sent to a business school for (tailor made) top executive programs. Although costly, these programs provide a fast and effective way for top executives to get introduced into the latest business trends and thinking, and offer them the basic insights required for good corporate governance.

CareerMee: Can you give us a bit of information on the differences between working in the US and working in Belgium; cultural differences, work conditions, quality of life, etc?

Kris: Belgium has a more relaxed way of life. As our economy is more focused on the objective of reaching ‘social welfare’, more attention is given to obtaining an acceptable work/life balance, especially at the lower management level. This is embedded in the legislation, social security system etc.

This also has a flipside: the result is a highly inflexible, rigid labor market and strong unions, making it difficult to implement change.  In the current economic downturn it imposes additional limitations on companies to carry on with required downsizings, making it more difficult to restructure and cope with reduced revenues.

One might conclude by saying that Belgium is a good place to work for employees (both white and blue collar workers) as they are well protected by the legislation and the social security system, but probably less so for top management who is often constrained in its ambition level by too restrictive legislation.

CareerMee: As someone who studied in Chicago, if class of ’09 MBAs have the language skills, do you think Belgium/Western Europe offers a better job market than the US?

Kris: Probably so, but the salary levels will be less attractive for them.

Finance Sector: What Recruiters Are Saying

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Interview with a Finance Headhunter

Speaking with Kristen Lalla of Dowd Associates, a boutique executive search firm specializing in the recruitment of senior level financial professionals.

CareerMee: So, you recruit exclusively in corporate finance. I can imagine you’ve experienced a bit of a slowdown – some say a complete collapse of the sector. Is that true? Can you tell us about recruitment trends in your industry?

Kristen: Well, there has definitely been a slowdown. But it hasn’t been crippling or anything. If it was, you wouldn’t be talking to me. I’m still in business recruiting for these positions, so that tells you something. In fact, we’re recently seeing an uptick in hiring for corporate finance.

CareerMee: An uptick? I didn’t expect to hear that – good news for MBAs with finance degrees, though. But has the value of an MBA been diluted by all this?

Kristen: Oh no, an MBA definitely still gives you an edge. Right now the market is flooded with candidates. When you’ve got an MBA, it only serves to pull you out from the crowd.  An MBA is basically required in the corporate finance sector now. In the late 90’s, this really wasn’t the case. But now, more than ever, you really do need an MBA in this field.

Kristen Lalla, Partner, Executive Vice President & Managing Director of Dowd Associates

CareerMee: So, if you want to pull yourself out of the crowd, does proving you’re an ethical MBA help? Something like the MBA Oath – if you’ve signed it, are you more likely to be looked at by recruiters? Does this have an effect on employability?

Kristen: This is a fairly new development. But I don’t think it really is effecting how we recruit. However, this is definitely a great way to set yourself apart on resume, I’d think. The Oath can even be a great icebreaker, in interviews and meetings.  In this climate, you need to do as much as you can to set yourself apart.

And Kristen isn’t the only one at here firm with a careful optimism. Dowd Associates CEO and President Richard Dowd spoke recently in CFO Magazine about the ‘uptick’ in finance sector recruiting.

” Financial risk management is certainly moving beyond Wall Street. According to Dowd, the treasury departments of some big consumer companies are now looking for managers to help them manage interest rate and currency risk. The corporations are especially interested in people with technical undergraduate degrees and MBAs in finance, usually from top-20 schools. Strong candidates can command base salaries starting at $150,000 to $200,000 plus bonuses, Dowd says.”

Thanks so much, Kristen! Good news MBAs! Recruiting still happening in Finance! Update your profile on CareerMee and post your resume on our site for senior finance recruiters like Dowd Associates to view.