The aim of the survey was to gather feedback from EBS alumni regarding their professional careers and EBS's contribution to them - to what extent the degree obtained at EBS has enhanced graduates' career opportunities and how well the knowledge acquired at EBS aligns with market demands. The summary provides a detailed overview of alumni's professional careers and economic well-being (salary levels and net worth), entrepreneurial activities, contributions to charity, and evaluations of EBS education in their career advancement. A total of 472 alumni responded to the survey, 15% of whom were English-speaking graduates.
Professional Career and Entrepreneurial Contribution
Most EBS alumni have worked during their studies (87%), 40% of graduates have founded their own companies, and one in three works in their companies even at the time of the survey (30%). Of the alumni who responded, 20% have founded 3+ companies (with two or more employees/board members), and 21% of respondents provide employment for 10+ employees in the companies they have founded.
Regarding the current employer's background, it was found that 30% of the alumni who responded are currently working in a company they founded or co-founded, 23% are working in a local private company, 36% in an international private company, and 14% in a state-owned, public, or municipal organization.
EBS alumni are engaged in a wide range of sectors: 17% in financial intermediation, 14% in wholesale and retail trade, and 7% in manufacturing.
Analyzing professional positions, it was found that 23% are entrepreneurs, 14% are top executives, 29% are middle managers, and 12%-18% are mid- to top-level specialists.
The top target countries and regions for professional activity are: Estonia 71%, Finland 8%, Western Europe 6%, and the Nordic countries 4%.
Economic Background and Social Contribution
The survey revealed several long-term trends in alumni careers and economic well-being. Most alumni worked during their studies, indicating a strong early focus on employment. Additionally, 40% of graduates have founded a company, and 30% currently work in their own company. The earlier the graduate, the more likely they are to have founded a company, be an entrepreneur or top executive, and have a higher net worth. The later the graduate, the more likely they are to work as a specialist, often in an international company, and have been in their current job for less than 5 years. Alumni income and net worth increase over time, with earlier graduates more likely to hold higher positions and have greater net worth. 52% of respondents have a monthly net income of up to 4000 euros, and 53% have a net worth (assets minus liabilities), excluding assets acquired through gifts, inheritances, marriages, etc., of up to 500,000 euros.
Examining whether and to what extent alumni have supported charity in recent years (both as company leaders/decision-makers and personally), it was found that 61% of donors have contributed between 500 and 5000 euros.
Evaluation of EBS Education
Half of the alumni (51%) rate the contribution of EBS education highly to their success in the job market, and 41% are willing to recommend EBS education to others (the recommendation index for English-speaking respondents was 39%). Estonians, graduates from 2000-2018, and those with a master's or doctoral degree rate EBS education higher and are more willing to recommend it. Positive keywords highlighted include modern and practical education, contacts and networks, good lecturers, and a personal approach. English-speaking and bachelor's degree graduates rate it slightly lower.
Positive aspects highlighted include EBS’s modern and practical education, contacts and networks, good lecturers, and a personal approach. It was emphasized that EBS provides an excellent foundation for entering and succeeding in the labor market.
Focus Needs and Future Outlook
Several respondents pointed out specific fields and practical skills that EBS should continue to and increasingly focus on - such as analytics, IT, data management, AI, investments, finance, accounting, risk management, leadership, psychology, coaching, negotiations, modern marketing, etc. Alumni also recognize that innovation in the entrepreneurial world is crucial - the process of creating and applying new ideas, methods, or products/services, discovering new technologies, or improving existing processes. Innovation is essential for economic growth, competitiveness, and social development, helping to solve problems, open new markets, and create jobs.
Sirli Kalep, Impact Fund and Alumni Relations Manager:
"In summary, the EBS alumni survey provides us with important feedback that helps the school improve its curriculum, strengthen the alumni community, and broadly enhance the EBS community. Special and even more attention is needed for English-speaking students, who, due to the distance between countries, may find it more difficult to maintain regular contact. At the same time, the survey also highlights positive aspects that have influenced alumni success, such as a strong EBS network, practical skills, and good personal mentoring.
We are certainly proud of the contributions EBS alumni have made to the Estonian entrepreneurial landscape by creating companies and jobs. Equally valuable is the contribution of EBS alumni in international markets. One of the significant future directions for EBS and its community is to promote a culture of donation within our community. We aim to encourage EBS alumni and find more ways to contribute to society and charity."
