Questions to the Dean

Sept. 2015: Is EDHEC now the most expensive business school? If so, why?

The maximum cost of the EDHEC Master in Management (MIM) programme is €44,120. This amount is guaranteed from admission for the entire course of study and is not subject to any increase or supplement at a later date. It also comprises numerous services, particularly life-long career guidance and support. EDHEC is the only business school to apply such a transparent and all-inclusive approach. In other words, we know of no grounds for saying that EDHEC is now the most expensive school. In France, the minimal cost to society of a student at university or in preparatory classes equals what EDHEC charges for this programme. However, our French competitors make significant revisions annually to their fees and international schools of our standing are much more expensive.

You may recall that EDHEC is registered as a not-for-profit association under France’s Law of 1901. The school possesses the full set of national and international accreditations for its educational programmes and research, all of which testify to its organisational excellence. Decisions such as those that set tuition fees are consequently taken at the highest level, dispassionately and objectively: although tuition fees are the school’s prime source of revenues, they are used exclusively for development purposes. In June 2014, as part of the EDHEC 2020 strategic plan, we had to decide on significantly increasing tuition fees for the Master in Management programme to €44,120. Two reasons were behind this:

• As an independent institution and with no funding from any chamber of commerce, EDHEC bears the brunt of a €1m-a-year cut in government subsidies. This has been compounded by a sharp reduction in income from the French Education Tax resulting in a 40% loss in revenue from these sources. To make up for this, we have focused on controlling costs, signing corporate partnerships and mounting an ambitious fund-raising campaign to which our alumni are ever-increasingly contributing – let me take this opportunity once again to thank you for your support.
• While EDHEC is universally acknowledged for the impressive pace of its development over the last 15 year (the French business magazine “Challenges” recently ran the headline “EDHEC moves up a grade”), we need to continue investing heavily in recruiting top faculty, in our international-standard campuses, in partnerships with elite institutions, etc. to consolidate our place in the ultra-competitive environment of Europe’s top business schools.

We ought to have devoted more effort to explaining these points to our current and future students. I had this very much at heart when I talked to parents and our new students recently. I am highly ambitious for both EDHEC and its brand, and believe in our strategy and in a business model which many now envy. However, nothing can be achieved without our alumni community. You represent EDHEC every working day while also filling an essential role by promoting the school around the world. It is a great pleasure for me to inaugurate this new column in your Newsletter. It gives me the opportunity to share the school’s development with you on a regular basis, helping you all to take EDHEC even further.