When the Master of Business Administration program in English was introduced at the Helsinki School of Economics in 1983 as the first of its kind in Finland, it brought about a number of innovative changes to degree studies.
It resulted in a totally new way of teaching in the Finnish higher education sector that reminded of the American style, including features such as modularity, an international faculty, and students from around the world.
Totally new way of teaching in the Finnish higher education sector that reminded the American style."
Preparations for the first cohort were extensive, and the full-time MBA program finally commenced with twenty-four students for a duration of two years. From the outset, an international approach was at the core of the program. Until the end of the nineties, in order to graduate, students were required to spend their final semester in a foreign MBA program.
The international nature of the program continues to be an essential feature. Participants have the opportunity to attend an exchange program at one of the Aalto MBA program's partner universities around the world. The duration of the exchange program can vary from a single module to four months. Participants can also join optional study tours as part of the program.
Academic and admission requirements were strict from the very beginning. In addition to holding a bachelor’s degree, applicants were expected to possess relevant work experience. Until 2011, scoring 500 points on the GMAT tests was obligatory, which guaranteed a highly qualified student body for the program.
Currently, the participants’ high level of ambition and motivation is tested through personal interviews and thorough screening of their work experience. Participants learning from each other continues to be one of the program’s undeniable strengths.
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| The average age of participants has increased by eight years from 1983 to 2024. The change is due to a shift from full-time to part-time MBA studies. (Photo from MBA graduation in May 2012) |
Determination resulted in an MBA program in Finland as early as the 1980s
It could be argued that the introduction of an international MBA program in Finland as early as 1983 would not have been possible without Veikko Jääskeläinen’s determination, profound interest, and extensive knowledge of international relations. He served as the director of the International Center of Helsinki School of Economics (HSE) and Dean of the MBA program from 1983 to 1992 before assuming the position of Rector of HSE.
Jääskeläinen was unwavering in his belief that HSE was the ideal home for a high-level international Master of Business Administration program, and he was right. During his tenure, HSE became increasingly international, fostering a broad network of faculties from universities worldwide.
In 2007, the international MBA program was transferred under Aalto EE (previously HSE Executive Education), resulting in synergies with HSEEE EMBA programs, which began in 1988. The consolidation brought all HSE's commercial activities under one roof.
Participants learning from each other continues to be one of the program’s undeniable strengths."
In true MBA fashion, the program’s content has always offered participants a solid business education and a broad perspective on general management. Throughout the years, participants have had the opportunity to specialize in areas that often reflect the business environment and trending topics of their time, such as Biotechnology, Information Technology, and High-Technology Entrepreneurship in the early and mid-2000s.
The longest-running area of specialization has been Finance, which, after several decades, continues to showcase the outstanding expertise of Aalto University School of Business in the field and has drawn more participants into the program than any other subject matter.
Along with Finance, the latest areas of specialization include Entrepreneurship and Global Business, providing participants an introduction to Geopolitics and an opportunity to gain perspectives on different markets through an immersive international experience with Aalto MBA’s partner universities.
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| The share of females and males in the number of participants has evened out over the years. In the 2021-2024 Aalto MBA cohorts, 56 percent were male and 44 percent female, compared to 30 years ago when only 34 percent of the participants were female. (Photo from MBA graduation in June 2001) |
Participants’ seniority level has increased over the decades
The average age of participants has increased over the years, from 29 years in 1983 to 37 years in the Aalto MBA cohorts of 2021-2024. The change is in part due to a shift from full-time to part-time MBA studies in 2000. The share of males was 65.5 percent and females 34 percent in 1993, compared to a share of 56 percent males and 44 percent females in the 2021-2024 Aalto MBA cohorts.
Having reached a ripe age, the program continues to thrive stronger than ever."
The Aalto MBA program is proud of its history, while the future is looking bright. The Aalto University School of Business has achieved the prestigious triple crown accreditation, which is only granted to 1 percent of business schools worldwide. The program has been accredited by EQUIS since 1998, AMBA since 1997, and AACSB since 2007, making it the first Nordic Business School to receive the distinction.
The MBA programs have a pivotal role to play; maintaining the accreditations requires rigorous academic quality, a distinguished faculty, and carefully selected participants. Additionally, the program is proud of its over 2,500 MBA alumni around the world who have successfully completed the MBA program. Having reached a ripe age, the program continues to thrive stronger than ever.
The Aalto MBA program had its 40th anniversary in 2023, and its impressive history will be celebrated in 2024.
Our extensive international alumni network, triple accreditation, and high customer satisfaction testify to the impact of the program. The contents of the program are continuously updated to meet the timely needs of the participants and the business landscape. Learn more about Aalto MBA and join a network of over 2,500 MBA alumni here!